Monday, september 7, 2015 binder1

Police arrest 25 in raid on Uwazurike's house }39

FG beats down refineries maintenance cost to $22m

business

Refineries: lNNPC begins recovery of $7bn excess JV taxes N1.12bn monthly Nigeria’s four refineries ects, New Telegraph has sighted by New Telegraph Adeola Yusuf and gulped about $22 million, learnt. showed that $10 million, subsidy to Anule Emmanuel saving taxpayers $1.57 bilA document from the being about 48 per cent of Turn Around Main- lion from the $1.6 billion Nigerian National Petro- the total expenditure, was persist }29 The tenance (TAM) for the earlier voted for the proj- leum Corporation (NNPC) spent on the two refineries

in Port Harcourt.

The $22 million expenditure was a 982 per cent reduction from $216 milCONTINUED ON PAGE 4

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Buhari’s cabinet: APC leaders in a fix

lNothing to worry about –Presidency

Scene of the destruction of illegal oil refineries in Bugama, Asari Toru Local Government Area of Rivers State by the navy…yesterday.

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PHOTO: NAN.

PDP to FG: Don’t turn our states into occupied territories

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Buhari’s cabinet: APC leaders in a fix

Ayodele Ojo and Donald Ojogo

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eaders of the All Progressives Congress (APC) are in a quandary over what they perceived as President Muhammadu Buhari’s decision to shut them out of the process of picking his ministers.

Buhari, who has promised to name his cabinet in September, is expected to forward the ministerial list to the National Assembly before September 26.

But multiple sources in the APC told New Telegraph at the weekend that the party leaders were in the dark over the composition of the cabinet.

“We have adopted a wait-and-see approach on Buhari’s cabinet. We have done what is expected of us, in terms of submitting nominees. You know you can’t predict the president.

So, the choice is now left for the president,” a senior member of the party said.

A cross-section of the party’s national leaders said the president had opted to “select members of the Federal Executive Council (FEC) in a closely-guarded manner” such that the party leaders did not know those to make the cabinet list.

A member of the National Working Committee (NWC) of the party stated that the APC leadership had no input in the expected cabinet, unlike what was obtainable in the days of the Peoples Democratic Party (PDP).

Sources said the president only requested for names of possible nominees from some influential members of the party, but there was no guarantee that any of the nominees would make the list in the end.

The source said: “Some of the party leaders have been given the privilege of nominating people into the cabinet. Some governors have also been given a similar privilege. But going by previous appointments made by the president, we have resigned to fate. President Buhari is unpredictable.

“You can’t change his view on his cabinet. But we have left him to make his choice. The party leaders do not have a clue of what the president intends to do. So, we have given up.

“There is no party leader that is sure of those who will make the cabinet.

The selection is closely guarded by the president.

So, we are at a loss.”

New Telegraph learnt that in the past three weeks, the Department of State Services (DSS) and the Economic and Fi-

nancial Crimes Commission (EFCC) had begun discreet screening of the would-be ministers.

A security source said some of those screened passed the integrity test while others failed.

“I can confirm to you that both the DSS and the EFCC have done integrity test on the would-be ministers. It is an ongoing exercise,” the source said.

One of the party leaders said some APC leaders were made to submit fresh nominees when their candidates failed security checks.

Another source said the recent debtors’ list published by the nation’s commercial banks affected some of the nominees.

“The president feels that if you have un-serviced debt with banks, it creates a credibility issue.

So, some of the initial nominees were affected by the development. Now, fresh names are being submitted and screened,” he added.

Some of the party leaders, however, decried a situation where persons who worked for the party were screened out because of corruption allegations.

“These are people who worked for the success of the party. They spent their monies for the party. Unfortunately, they are now seen as corrupt people.

Neither Buhari nor APC members are saints. But

we have left the choice for the president,” a party leader told New Telegraph.

Besides, it was also learnt that the party leaders were worried over the possibility of non-party men dominating the cabinet.

New Telegraph gathered that because they are uncomfortable with what they called the ‘technocrats question’, some leaders of the APC are billed to meet Buhari this week.

A top member of the party’s national caucus said the proposed meeting, if agreeable to the president, would discuss the ‘musings’ within the party

followership as a result of certain appointments that have been made so far.

The source said the recent appointments made

by Buhari had sent disturbing signals within the party even as he said some stakeholders were beginning to “take steps to pre-empt possible loss of hope.”

“We all worked for the party throughout the country and campaigned for all our candidates. We know we are indebted to Nigerians who voted us in by way of performance.

“But to say that politicians cannot perform now, that the same people

have delivered the needed change, means strange things to most of us in the party. It is like what one of our leaders called one chance bus; it is disturbing and upsetting when one thinks of it and this is just the general feeling all over the leadership of the party.

“So when we begin to hear stories that only trusted technocrats are likely to make the ministerial list, we begin to wonder what could be wrong; and the simple thing is that some people might begin to take steps to preempt possible loss of hope.

“I think that is one of

the reasons behind the issue of the former Governor of Bayelsa State, Timipre Sylva, having a re-think on his decision not to contest the governorship in his state. The truth is that he is not sure of what to get at the centre, having worked assiduously for the party.

“I can say that if others have his opportunity, they would seize it because that is the only way to get political benefit and relevance after the struggle,” he said.

But Sylva has dismissed the claim that he joined the governorship race out of fear of losing CONTINUED ON PAGE 7

L-R: Wife of the Vice-President, Mrs. Dolapo Osinbajo; her husband, Prof. Yemi Osinbajo; General Overseer, The Redeemed Evangelical Mission (TREM), Bishop Mike Okonkwo; his wife, Peace and Lagos State Governor, Mr. Akinwunmi Ambode, during Okonkwo's 70th birthday thanksgiving service in Lagos…yesterday.

PHOTO: TONY EGUAYE.

NNPC begins recovery of $7bn over deducted JV taxes CONTINUED FROM PAGE 1

lion, which the Sani Abacha regime spent for the same purpose.

The $1.6 billion was said to have earlier been voted for the repair of the four refineries nationwide by 2014.

Managing Director of the PHRC, Dr. Bafred Audu Enjugu, according to the document, authenticated the $10 million investment in the facility.

“The ongoing phased rehabilitation of the company cost a little less than $10 million. The job was holistically carried out by indigenous engineers without any foreign support,” the document quoted Enjugu as saying.

The administration of former President Olusegun Obasanjo had set aside $369 million for the TAM of the nation’s four refineries, while the Abdulsalami Abubakar and Sani Abacha regimes spent $92 million and $216 million respectively for the same purpose.

In 2007, the NNPC claimed it awarded the contract for a compre-

hensive TAM on all the refineries to a Nigerian firm. The contract sum as revealed by the then Group Managing Director of the corporation, Abubakar Yar’Adua, was $57 million.

In 2009, the then GMD of the NNPC, Alhaji Sanusi Barkindo, also said the corporation spent $20 million on the maintenance of the Kaduna refinery alone.

A whopping $1.6 billion was voted for TAM of the four refineries across the country by the end of 2014.

The country, analysts have argued, has a poor maintenance corporate culture. The 150,000 bpd Port Harcourt refinery was built in 1989. TAM operations were carried out in 1991, 1994 and 2000.

The Kalu Idika Kalu Committee had, in May 2013 during a visit to the Port Harcourt Refinery, found its four boilers nonoperational. Two out of the four power plants were down.

Besides, there was evidence of poor maintenance with serious corrosion of major key units, just as morale of the work-

ers was low and management was dysfunctional with little or no financial authority.

“The last major TAM was in 2000. It will have to be modernised and upgraded. Ditto for the 110,000 bpd Kaduna refinery, this had its last TAM in 2008. The one before that was in 1998 after a major fire. Production is at 25 per cent of installed capacity.

The 125,000 bpd Warri refinery is also operating at 25 per cent installed capacity. TAM operations were carried out in 1994, 2000 and 2008.

“The administration of a former President, Chief Olusegun Obasanjo, set aside $369 million for the TAM of the nation’s four refineries, while the Abdulsalami Abubakar and Sani Abacha regimes spent $92million and $216 million respectively for the same purpose.

“In 2007, the NNPC claimed it awarded the contract for a comprehensive TAM on all the refineries to a Nigerian firm.

The contract sum, as revealed by the then Group

Managing Director of the corporation, Abubakar Yar’Adua, was $57 million.

“In 2009, the then GMD of the NNPC, Alhaji Sanusi Barkindo, also announced that the corporation spent $20 million on the maintenance of the Kaduna refinery alone,” the document stated.

An industry source said the NNPC was already planning to run the installations through proxy.

The corporation, he said, had begun talks with Joint Venture partners for the running of the refineries.

Group Managing Director of the NNPC, Dr. Ibe Kachikwu, confirmed this after his tour of the refinery in Port Harcourt.

He said the NNPC would invite partners to support the running of the refineries to ensure efficiency.

The refineries, he said, would “not be sold, but joint venture partners with established track records of success in refining would be invited to support the running of the refineries in order to

ensure efficiency.”

He commended the NNPC’s engineers for the successful execution of the ongoing phased rehabilitation of the refineries while urging them to prepare replacement programmes for obsolete spare parts of all the corporation’s installations in order to avoid intermittent shutdown of facilities.

The NNPC boss stated that efforts were being made to fix all the crude and petroleum products pipelines nationwide.

He added that the Nigerian Air Force would be engaged to provide aerial surveillance for the pipelines, the Nigerian Army Engineering Corps to fix and police the pipelines and the Nigerian Navy to provide marine surveillance for the network of pipelines.

According to Kachikwu, the ongoing phased rehabilitation of all the refineries would be accelerated with the aim of reducing petroleum products importation.

He added that at full CONTINUED ON PAGE 6

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MONDAY, SEPTEMBER 7, 2015 NEW TELEGRAPH

PDP to FG: Don’t turn our states into occupied territories Onyekachi Eze ABUJA

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he Peoples Democratic Party (PDP) yesterday raised the red flag over attempts by the Federal Government, controlled by the All Progressives Congress (APC), to allegedly turn states under the opposition party into “occupied territories.”

The party, in a statement in which it decried last Friday’s invasion of the Akwa Ibom State Government House by operatives of the Department of State Services (DSS), said PDP states were part of Nigeria and should be so treated.

It added that what it lost was the general elections and not a war.

PDP, in the statement by its National Publicity Secretary, Mr. Olisa Metuh, also accused the Federal Government of planning to invade other PDP states such as Rivers, Delta, Abia and Taraba.

"PDP states are not occupied territories, but part of the Nigerian nation; its members are not prisoners of war, but free citizens in a democratic state," it added.

According to the statement, the planned invasion is in continuation of the APC's use of the DSS to influence the activities of the election tribunals to declare its governorship candidates winners.

It said: “We wish to state categorically that as citizens of this country, we can no longer continue to stomach such brazen attacks on our members

and elected officials. The PDP will, therefore, hold several leadership and stakeholders’ meetings to come up with its response to this barefaced assault on our democracy. Enough is enough!”

PDP said its investigations had shown that the DSS acted on the orders from the presidency, which it accused of plotting to destabilise and forcibly take over Akwa Ibom and other PDP states.

It cautioned that the invasion and other flagrant abuse of power by the Federal Government could lead to a constitutional crisis, civil unrest and anarchy.

It, therefore, urged Nigerians and the international community to take note of the alleged attempts by the Federal Government to

NNPC begins recovery of $7bn excess JV taxes CONTINUED FROM PAGE 4

capacity, all the refineries could supply only 20 million litres of petrol daily.

Meanwhile, the NNPC has submitted a report to President Muhammadu Buhari on its process for recovering about $7 billion owed Nigeria from over deducted Joint Venture taxes.

TODAY’S WEATHER FORECAST LAGOS

ABUJA

PORT HARCOURT

KANO

ENUGU

IBADAN

CALABAR

MAIDUGURI

ONITSHA

28o C 24oC Thunder Storms

24oC 10oC Mostly Sunny

18oC 17oC Storm

32o C 22oC Thunder Storms

26oC 22oC Storm

29o C 22oC Thunder Storms

23oC 22oC Storm

33o C 23oC Isolated Storms

31oC 22oC Mostly Sunny

Senior Special Assistant to the President on Media and Publicity, Mallam Garba Shehu, said in a statement yesterday that in the first 100 days of the Buhari government, the NNPC has begun the process of recovering over $7 billion in over-deducted tax benefits from JV partners on major capital projects.

The report detailed successes recorded so far.

Kachikwu had commenced Performance Measurement & Benchmarking as well as Value for Money Review of NNPC and the JV Companies covering the period 2008 – 2013. A report indicated that this process may lead to further cost recovery.

According to Shehu, "In addition, the report said that a reputable international accounting firm has been engaged by the NNPC to ascertain the exact amount due government on the Strategic Alliance Contracts entered by NPDC, where up to $2.46 billion of government money is to be recovered.

"It also revealed that consequent upon an extensive investigation of the various toxic crude oil for refined products swap contracts, a total sum of $420 million has so far been reconciled in favour of NNPC and is now due for recovery from the legacy OPA/SWAP contracts. Out of the reconciled amount, the sum of $277 million has been recovered in lieu of products and the recovery effort is still ongoing.”

He said progress was being made towards bringing back the nation’s refineries to full production before the end of this year.

If this is completed, the report said, it would achieve an annual savings of about $1 billion worth

of foreign exchange from fuel import substitution and additional total saving of over $500 million annually will be made from the petrochemical products of Kaduna Refinery and Petrochemical Company.

steal the PDP’s victories in some states.

The party recalled a similar action by the police, which in July, sealed local government secretariats in Rivers State and barred caretaker committees from taking charge of their administration.

"If such terror can be unleashed on a state gov-

ernment, one can only imagine the fate of regular citizens in the hands of this administration that has continued to show unparalleled disdain for constitutional order, with heinous penchant for oppression.

“We invite Nigerians and the international community to note that

never in the history of our democracy have we witnessed such a divisive government, whose actions and constitutional violations have so polarised the polity along its fault lines, while undermining national unity and cohesion, a development that spells doom for our democracy, if left unchecked,” PDP said.

I got ministerial approvals for recruitment –NCAA DG Wole Shadare

T

he Director-General of the Nigerian Civil Aviation Authority (NCAA), Capt. Muhtar Usman, has denied allegation that he employed 100 workers without the approval of the Ministry of Aviation.

The National Union of Air Transport Employees (NUATE) had vowed to engage the aviation regulatory body over the appointment.

Usman, in a statement made available to New Telegraph yesterday, said he sought and obtained ministerial approval for renewal of contracts for 45

Aviation Safety Inspectors (ASI) whose contracts had expired.

He said: “This was expedient to ensure the regulatory authority was adequately staffed and well-armed to provide a robust safety oversight as statutorily required.

“In addition, this same ministerial approval was granted to DG’s request to proactively beef up staff strength in some critical areas in the Authority.

These are Medical Assessors, Engineers, Air Traffic Controllers (ATC) and additional Aviation Safety Inspectors (ASI) – all totalling 33.”

The NCAA had earlier denied media reports stating that 100 employees

were interviewed in Abuja without ministerial approval.

He explained that the employment was done when the Federal Aviation Administration (FAA) recertification and the International Civil Aviation Organisation (ICAO) visited Nigeria for audit of the country’s aviation industry which he said was part of the open items in line with adequate staffing and Universal Safety Oversight Audit Programme (USOAP) in November 2015.

The request and ministerial approval obtained, according to him, was to ensure that Nigeria possesses adequate manpower to come out in flying colours again.

L-R: Guest speaker, Sir Adewale Adeeyo; Chancellor, Adeleke University, Senator Isiaka Adeleke; former Lagos State Governor, Senator Bola Tinubu; Chairman of Council, Adeleke University, Dr. Adedeji Adeleke and Vice-Chancellor, Prof. Amusan Oluwole, at the conferment of honorary doctoral degrees on Tinubu and others during the university graduation in Ede, Osun State…at the weekend.

Intention fee for Ooni contenders rises to N1m Adeolu Adeyemo OSOGBO

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ontenders for the throne of Ooni of Ife, which became vacant following the death of Oba Okunade Sijuwade in July are now being made to pay as high as N1 million as intention fee before their aspirations are considered by the ruling houses, New Telegraph has learnt.

One of the contenders confided in New Telegraph at the weekend that some of the ruling houses had to jack up the fees from N500, 000 in a bid to reduce the

growing number of aspirants.

The contenders from Lafogido ruling house showed New Telegraph a bank teller of N500, 000 with which he paid before the rise in the cost.

This, he added, he did before he was screened to enable him to join the race for the throne.

The contender, who preferred anonymity, said in some other ruling houses, contenders were made to pay N1million and above.

When asked why the rise in the cost of the intention fee, he said since the battle had become a fierce

one among the contenders, the screening committees of the various ruling houses, comprising members, adopted the system as a way to discourage “unserious aspirants”.

He, however, described the screening by the ruling houses as a first step in the qualification process, adding that the final screening would be conducted by the Ife Royal Traditional Council, which members include the kingmakers.

He said: "Before the commencement of their own (traditional council), we don’t know the amount of money we are going to

pay as their intention fee.

Who knows whether it will be N5 million or above?"

Besides the rising intention fee, the ruling houses have continued to squabble over whose turn it is to produce the late Oba Sijuwade’s successor.

At a press conference by the Lafogido ruling house at the weekend in Osogbo, it said it was its turn to ascend Ooni throne.

Head of the ruling house, Chief Sooko Adeleke Adewoyin, said the ruling house could boast many capable sons whom were of high integrity to ascend the throne.

News

NEW TELEGRAPH MONDAY, SEPTEMBER 7, 2015

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NSIA rallies pension administrators to fund infrastructure Abdulwahab Isa Abuja

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he Nigerian Sovereign Investment Authority (NSIA) is rallying stakeholders for the establishment of the Nigeria Credit Enhance-

ment Facility (NCEF).

When operational, the pension assets currently above N6 trillion could be invested in financing key infrastructure.

Already, the NSIA had met with stakeholders such as National Pension Commission (PenCom),

Pension Fund Administrators (PFAs) and pension fund custodians on the scheme.

Speaking at the weekend, NSIA Managing Director/Chief Executive Officer, Mr. Uche Orji, said the scheme may be unveiled in 2016.

He added that NSIA is working in collaboration with GuarantCo, a leading facility developed by UK DFID, which provides local currency guarantee in frontier economies, to help it establish the NCEF. "Depending on the regulators’ views, we expect

Baga: Ransome-Kuti may close defence Oct 5

lAs Army fails to produce Badeh, Minimah Our Correspondent

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here are indications that the former Commander of the disbanded Multinational Joint Task Force (MNJTF) in Baga, Borno State, Brigadier General E. RansomeKuti, may close his defence before the General CourtMartial (GCM) sitting in Abuja on October 5.

Ransome-Kuti now faces a two-count charge bordering on loss of service property and failure to perform military duties, after the Major General Ekanem-led GCM, discharged and acquitted him on the first count of cowardly behaviour.

The offences emanated

from the overrunning of the MNJTF base by Boko Haram, and the capture of Baga in January 2015.

A military source, who spoke in confidence with New Telegraph, said so far the one-star General has called three witnesses, who have since testified in his favour.

This was after he had given evidence before the court-martial, which is sitting at the Army Headquarters (AHQ) Garrison, Abuja.

According to the source, if on the next adjourned date the Army does not produce some soldiers, who fought under his command, to testify as defence witnesses, Ransome-Kuti may close his defence.

Also, it was gathered that the accused officer's request for the GCM to summon former Chief of Defence Staff (CDS), Air Chief Marshal Alex Badeh (rtd) as well as ex-Chief of Army Staff (COAS), Lieutenant General Kenneth Minimah (rtd), as defence witnesses, was not granted.

"The GCM said they could not produce or summon the former CDS and former COAS to appear as witnesses, since both senior officers have left service, and are, therefore, no longer under Service Law. "They advised him to find a way and produce them himself. And of course, you know the challenge involved in trying to

Buhari holds security, bilateral talks with Ghanaian leader Anule Emmanuel Abuja

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resident Muhammadu Buhari will today depart Abuja for Accra, the Ghanaian capital for a one-day official visit.

The president is expected to engage his Ghanaian counterpart, John Dramani Mahama, on issues bothering on regional security and bilateral rela-

tionship.

A statement by the Special Adviser on Media and Publicity to the President, Mr. Femi Adesina, yesterday, said President Buhari will discuss trade and other issues of common interest to Nigeria, Ghana and other members of the Economic Community of West African States (ECOWAS) during the visit.

Adesina said the president is also expected to

meet with members of the Nigerian community in Ghana and entrepreneurs before returning to Abuja this evening.

President Buhari is being accompanied to Accra by the National Security Adviser, Maj.-Gen. Babagana Monguno (rtd) and the Permanent Secretaries in the Federal Ministries of Foreign Affairs, Defence, Justice and Industry, Trade and Investment.

Nothing to worry about –Presidency CONTINUED FROM PAGE 4

out in the race to be one of Buhari’s ministers.

Sylva, who spoke through his media aide, Doifie Ola, said as one of the national leaders of the APC, whatever decision taken had been after due consultations with the president.

“That it is out of frustration at the centre that Sylva is running for governor cannot be true. One, the man has not officially declared that he would run for the governorship of the state.

“Second, the president has not appointed ministers, so there is no question of whether or not his desire to be governor again is borne out of whatever loss in that regard.

“I can tell you that as

one of the leaders of the APC at the national level, whatever decision taken by the former governor has always been, and can only continue to be after due consultations with the president,” Ola said.

Already, four major candidates have emerged for the only ministerial slot for Ekiti. Two former governors of the state – Segun Oni and Kayode Fayemi – are contending with a human rights activist, Mr. Femi Falana (SAN) and former Lagos State Commissioner, Mr. Dele Alake, for the slot.

Oni is the Deputy National Chairman (South) of the APC while Fayemi was the Director, Policy Directorate of the APC Presidential Campaign Council.

Falana is being tipped

as the Attorney General of Federation and Minister of Justice.

In Lagos, the choice of the ministerial nominee is between Mr. Yemi Cardoso and Wale Edun. Both served as commissioners under the Bola Tinubu administration in Lagos State.

A source said Buhari might defer to Tinubu on who gets the Lagos ministerial slot.

But the presidency has allayed fear of marginalsiation of party chiefs, as it said there was nothing to fear.

“There is nothing like that, there is nothing which indicates that; nothing to fear at all,” Senior Special Assistant on Media and Publicity, Mallam Garba Shehu, told New Telegraph on telephone.

do that without the help of the court.

"In any case, I think the General (Ransome-Kuti), may likely close his case on October 5, when he is supposed to call some soldiers as witnesses, to help his defence.

"But, from what I heard, he may proceed to close his defence, if on the next adjourned date, the soldiers are not able to show up from their different units," he stated.

The GCM had earlier discharged and acquitted three officers, who operated under the former MNJTF Commander.

The names of the freed officers are: Col. Ajunwa (his former Chief of Staff), Lt-Col. Haruna, as well as Lt-Col. Suru (who doubled as Deputy Chief of Staff).

$400 million equity can support over $8 billion of bonds. By facilitating borrowing for infrastructure projects, NCEF will manage credit risks and expand liquidity in the domestic bond market, attracting a wide range of lenders to the domestic capital markets.

“When operational, it will also play a critical role in reducing infrastructure financing costs to affordable levels for issuers. Currently, the NSIA and GuarantCo are finalising business development, hiring financial and legal advisors and raising core capital to establish the business," Orji said.

He added that with coming on board of NCEF, "Nigeria is positioned to increase the share of fiscal resources going to infrastructure.”

"The pension fund is growing but they are buying government bonds used for short to medium term borrowing. Our commercial banks have a mismatched liquidity structure with maximum tenor of loans at seven years. The law permits pension funds to invest up to 10 per cent of their assets in infrastructure, but till date they have invested a negligible amount," he

said.

He noted that NSIA cannot provide guarantees, but can facilitate the creation of a credit enhancement company.

The decision to establish the NCEF, Orji said, was based on the fact that infrastructure development requires long term investment.

"This investment is often achieved through long term bonds, running as long as 25 years. Long term investors such as SWFs, governments, pension funds and insurance companies typically invest in such bonds. Since it is not new for pension funds to finance infrastructure development in most developed countries; water, sewage, power, tolled roads and other infrastructure have been funded by pension funds. However, the issue is that pension funds need credit enhancement or some form of insurance to invest in risky infrastructure bonds."

He said the proposed NCEF will make it easy for pension funds and insurance companies to invest in infrastructure.

On the Second Niger Bridge, he doubted the completion of the project within the 48 months stipulated period.

CITIZENSHIP AND LEADERSHIP TRAINING CENTRE PLOT 1075 JOSEPH GOMWALK STREET GUDU DISTRICT, ABUJA P.M.B. 345 GARKI

1.0 INTRODUCTION

Citizenship and leadership Training Centre an Agency under the Federal Ministry of Youth Development in furtherance of its statutory mandate intended to execute the under listed works projects and therefore wishes to invite interested and reputable contractors, manufacturers and suppliers with relevant qualification to apply for pre-qualification for tender into approved projects in the 2015 appropriation such as:1.1

DESCRIPTION AND SCOPE OF WORKS LOT A :- Purchase of Training and MDG’s Equipment LOT B :- Sinking of Boreholes LOT C :- Rehabilitation of Students Hostel and Basketball Court LOT D :- Purchase of a Motor Vehicle.

2.0 ELEGIBILTY CRITERIA 1. Evidence of registration with Corporate Affair Commission 2. Details of Company profile 3. Evidence of current tax clearance certificate.

4. Evidence of compliance with Pension Reform Act, 2004 by inclusion of compliance letter from (NPC) National Pension Commission.

5. Evidence of compliance with Statutory Provision of the Amended ITF Act 2011 Section (1) – (3).

6. Evidence of VAT Registration and past VAT remittance.

7. Letter of Financial Capability and Banking support.

8. Evidence of company’s technical capability.

9. Evidence of the execution of a similar work for three years.

3.0 SUBMISSION OF PRE-QUALIFICATION PROPOSALS

A copy of proposals be dropped in the pre-qualification box in sealed envelope and marked at the top left corner “CLTC 2015 Pre-qualification” and addressed to: Director General

Citizenship and Leadership Training Centre

Plot 1075 Joseph Gomwalk Street

Gudu Abuja.

4.0 CLOSING DATE AND TIME

The closing date for the submission of proposals is on or before 12.00noon 7th October, 2015.

5.0

OPENING DATE AND TIME Applications received shall be publicly opened at 12.05 same day of closing date in the Centre’s Conference Room.

NOTE that 1. The submitting company should not make any claim whatsoever not by virtue of responding to this advert.

2. Late submission of bid proposals shall not be considered.

3. Formal Tendering will be provided only to prequalified contractors.

Signed:

Director General

Citizenship and Leadership Training Centre Gudu Abuja.

MONDAY, SEPTEMBER 7, 2015 NEW TELEGRAPH

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Metro

Girl, 12, kills self with grandpa’s gun Biodun Oyeleye Ilorin

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Some of the suspects

Robbers rape patients, hospital staff HELPLESS PATIENTS Some people seeking treatment for various ailments in a private hospital got more than they bargained for when robbers unleashed terror on them Kunle Olayeni Abeokuta

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obbers have stormed a private hospital in Ijebu-Ode, Ogun State. In their wake, they left traumatised vic-

tims.

The robbers not only robbed patients on admission and personnel of the health facility, Amazing Grace Hospital, Ijebu-Ode, they reportedly raped some of the female victims.

However, nemesis has caught up with two of the robbers - Demola

ABIODUN BELLO FEATURES Editor

abiodun. bello@newtelegraphonline.com

© Daily Telegraph Publishing Company Limited

David and Dare Oladunjoye. They are part of the 10 suspected armed robbers arrested by the police in Ijebu-Ode Local Government Area.

David and Oladunjoye were said to have earlier shot dead one Alayande Oladipo on the same date.

The state Police Public Relations Officer (PPRO), Olumuyiwa Adejobi, who confirmed this in a statement yesterday, said the suspects were arrested on Saturday at Olisa Street, Ijebu-Ode. Adejobi said that the other eight suspects were nabbed after a fierce shootout between them and the police.

He explained that the police operatives attached to Igbeba Division acted on a tip-off that armed men were seen at Molipa/Ikanga area in Ijebu-Ode about 5:30am on Saturday.

He said: “The police operatives attached to Igbeba Division of the command swung into action immediately the information got to them and rushed to the said area where the suspected armed robbers opened fire on the police operatives who responded with heavy fire power which curtailed the men before eight of them were arrested.”

The PPRO disclosed that the leader of the gang, one Ayomide Muruf, alias Sucker, sustained bullet wound in the battle.

He added: “Other members of the gang arrested included Kayode (surname yet unknown) alias Small; Tunde Ruben, Tomiwa Adekoye, Adeyemi Adegoke, Kufe Emmanuel, Moses Udoh and Akeem Adenrele alias Polo while some of the robbers

escaped with bullet wounds.”

Adejobi noted that the state Commissioner of Police, Abdulmajid Ali, had commended the police operatives who were involved in the successful operation.

He said Ali had directed that the suspects be transferred to the Special Anti-Robbery Squad (SARS), Abeokuta for further investigation and prosecution.

Meanwhile, armed robbers at the weekend in Abeokuta invaded the residence of members of the National Youth Service Corps (NYSC) serving in Ogun State.

The lodge is located behind Staff Development Centre, Presidential Boulevard, Abeokuta, the state capital. The robbers reportedly stole valuables, including undisclosed amount of cash, 10 laptops and 25 mobile phones.

The incident occurred about 3:00am on Saturday.

Some of the victims, who spoke with our correspondent on condition of anonymity, said the bandits, numbering four, escaped through a footpath after the robbery.

The corps members claimed this was the third time their lodge was raided by robbers and appealed to security agencies and NYSC authorities to come to their aid.

“We have earlier reported the two incidents to the police but no action was taken. And now the attack was the third within months. We are begging security authorities in the state and NYSC to come to our aid before the bandits start killing us,” one of them said.

12-year-old girl accidentally killed herself at the weekend in Ilorin, Kwara State, while playing with a dane gun belonging to her grandfather who died seven years ago.

The incident, which occurred at Alangua area of Tanke, caused commotion as the residents said the gun had not been used since the said grandfather, identified as Baba Ria, died. The man was said to have been a devotee of Ogun, the god of iron. But, no one had been using the shrine since he died.

Witnesses said the incident occurred on Saturday when the girl, identified simply as Ganiyat, was playing with the gun in the midst of her siblings.

A source said: “Ganiyat’s mother came to pay a visit and this happened after her departure. The kids live here with their grandmother but early this morning Ganiyat, who was playing with her peers, suddenly asked others to go away while she ran into the abandoned Ogun shrine in a room belonging to Baba Ria, a hunter and worshiper of Ogun.

“The gun has been in the shrine since the man died seven years ago. No one knows what was happening, until a deafening roar from a gun alerted everyone around 11.35am.

“We ran out only to see Ganiyat in her pool of blood with her eyes bulging out. Our neighbours rushed her to a nearby Group Medical Centre, Tanke, where she was confirmed dead.”

When contacted, the state Police Public Relations Officer (PPRO), Mr Ajayi Okasanmi, said investigation was still on going.

It was gathered that the police had seized the gun and arrested some men in the compound with a view to finding out why they had kept the gun for long after the owner had died.

Beware of beggars, hawkers, task force warns Muritala Ayinla

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agos State residents have been advised to be wary of those who pose as beggars, especially in traffic because their ‘aim is to perpetrate evil’.

The Chairman of the state Task Force on Environmental and Other Special Offences (Enforcement Unit), Superintendent of Police (SP) Olubukola Abe, who gave the advice, said the government had received reports on the activities of such persons.

Abe said the task force was going to beam its searchlight on the destitute, beggars, hawkers, etc.

The chairman added that his organisation would fully enforce the provisions of the law restricting street trading in the Lagos metropolis.

He said: “We have had reports on the activities of persons who pose as beggars, especially in traffic, but their sole aim is to perpetrate evil.”

Abe, who urged residents to refrain from patronising street traders, also appealed to Lagosians to be safety conscious and ensure they seek spaces in various markets designated for trading.

He said: “There is no way any responsible government will allow street trading to continue after providing stalls in designated market places all over the state.”

Abe added that aside ensuring security, the new drive would also reduce traffic congestion on the road, often caused by the activities of street traders.

Metro

NEW TELEGRAPH MONDAY, SEPTEMBER 7, 2015

Schoolgirls disappear after failing exams Taiwo Jimoh

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wo teenage girls left home recently to check the results of their promotional examinations to Senior Secondary School (SS2) but have not returned home since.

However, the disappearance of the two friends, Janet Abiodun (18) and Evenly Apalowe (17), has plunged their family members into anxiety.

The girls, both students of New Era Girls Secondary School, Surulere, Lagos, were believed to have gone to hiding because they reportedly failed the examinations.

Janet’s aunt, Mrs Olufolake Oyinloye, said she waited for her for a long time, thinking she might have been kept busy in school.

Oyinloye, however, became worried when it was night and there was no sign of the girl.

According to her, Janet did not own a phone, so there was no way to even call her.

She said: “The following day, I went to one of her friends, Evelyn’s home. I was shocked to discover that she too had not been seen. I have searched everywhere for her.

I have also called her friend’s

parent in Osun State to confirm if they were there. I do not think it is a crime to repeat a class. That is why she ran away.

“I went into her room to check if she dropped a note, but there was nothing. She did not take anything in the house. I just do not understand her reason for running away.”

Oyinloye recalled that when Janet collected her first term result, she had given her some gifts and urged her to do better next time. Asked if Janet might have a lover, Oyinloye said no, stressing that the girl sworn to her that she was a virgin.

She said: “The girl is my cousin. She has been living with me since December 22, 2013; after I saw the manner she was being treated by her father. I told my elder sister to persuade her to come and live with me. That was how she got to my place.

“I am not the harsh type.

The only time I would say I scolded her was when she collected her second term result and hid it from me. What my children eat is what I used to give to her. I don’t discriminate between her and my children. I don’t know why she ran away?

A

43-year-old man, Lawal Hakeem, said he impersonated a policeman to get money to fight excruciating hunger.

Hakeem was arrested along with Abiodun Ibrahim, 32, at Mile 2 area of the Lagos metropolis by operatives of the Rapid Response Squad (RRS).

The suspect, who was found with a fake police identity card, said he used to be a policeman, but was dismissed for deserting.

Hakeem, who resides at 16, Shittu Ajiron, Ajangbadi in Ojo

The fake policemen

City Briefs Accused escapes from court premises Uchenna Inya Abakaliki

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n accused standing trial for conspiracy, kidnapping and armed robbery before an Abakaliki Magistrates’ Court, Jesse Onyeukwu, has reportedly escaped custody.

Onyeukwu, 26, had claimed being pressed by nature and pleaded that he should be escorted to a convenience room to ease himself during court session.

A prison official, who brought him to the court, was thereafter assigned to escort him. As he was being escorted, he walked towards the fence and jumped into the bush and disappeared on a sand-by motorcycle.

Community parades man for defiling girl Uchenna Inya Abakaliki

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Abiodun

Oyinloye said she went to Janet’s school to find out if she had committed any offence, but was told by her teacher that after the students collected their results, one of her friends, whom they used to walk home together, told her that they should start heading home, but Janet refused, insisting that she wanted to walk with Evelyn.

Since then nobody had seen the girls.

‘Hunger drove me to impersonate police’ Taiwo Jimoh

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Local Government Area, said: “I got enlisted into the police on April 4, 1989 with force number; 180939 before I was dismissed last year due to absenteeism from work after the death of my wife. Since that time, things have not been easy for me. I was only parading myself as a policeman only to find means of livelihood.”

The RRS Commander, Assistant Commissioner of Police, ACP Olatunji Disu, said his men, while on patrol duty, sighted the suspects who were in mufti and became suspicious of their furtive movements.

According to him the RRS men approached the suspects to find out their business in the area.

The duo, believing that esprit de corps would get the policemen off their back, introduced themselves as policemen. But rather than allow them to go, the RRS men probed them further.

During interrogation, Hakeem whipped out a police identity card, later found to be fake. Immediately both of them were arrested.

On his part, Ibrahim confessed that he was not a policeman, but Hakeem’s intimate friend. He added that he was just trying to settle dispute that ensued between Hakeem and a private car driver at the spot before the arrival of the police at the scene.

Hakeem appealed to the police to forgive him, promising not to impersonate anyone again.

She added: “Three days after they left home, Evelyn called her father on phone, saying she was in Ibadan. But since then, the phone line had not been going through again.

Evelyn’s aunt told me that the girl had left home once. She was sure Evelyn would soon return home.”

Oyinloye said she also went to Area ‘C’ Police Command, where she reported Janet missing.

35-year-old father of three, Ejike Nwuzor, was at the weekend subjected to a public disgrace in Mkpuma community, Izzi Local Government Area of Ebonyi State for allegedly defiling a 12-year-old girl (name withheld).

Nwuzor was caught by a farmer, Oliver Nwegede.

Nwegede claimed he saw Ejike harassing the girl sexually.

The farmer said the screaming of the victim attracted his attention while in the farm.

He said: “The girl was struggling with Nwuzor and was crying and begging him to leave her. So instead of coming out immediately to rescue her, I hide very well in the bush.

NSCDC recovers 67,400 litres of fuel John Edu

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he Nigeria Security and Civil Defence Corps (NSCDC), Lagos State Command has handed over 67,400 litres of petroleum product to the Nigerian National Petroleum Corporation (NNPC).

The state NSCDC Public Relations Officer (PRO), Mefor Chibuzo, said the product was handed over to NNPC after it was tested by the Department of Petroleum Resources (DPR).

The product was recovered from oil vandals in different locations within Lagos State in the past four months.

“At least 1,442 kegs of 25 litres each of petroleum products were intercepted along the Badagry axis. And 204 kegs of 50 litres each were intercepted within Ikorodu-Ikeja axis, while 81 drums of 250 litres each of fuel were intercepted by the Nigerian Navy at Apapa and transferred to NSCDC Lagos Command,” Chibuzo said.

He added that the product was loaded from creeks in Ikorodu, Apapa and Festac areas of Lagos State for onward movement to neighbouring countries of Republic of Benin and Togo.

Some of the recovered kegs of fuel.

The state NSCDC Commandant, Gabriel Abafi, handed over product.

He said: “These operations were possible due to intelligence information gathered by undercover agents and other good-spirited Nigerians. I appeal to Lagosians to always provide the corps with useful information on illegal activities around their environment.”

The commandant promised that there would be zero tolerance of any form of criminality in Lagos. He also stressed that there was need

for collaboration among other security agencies in ensuring that lives and property of the citizenry of Lagos were safe.

According Abafi, NSCDC has taken cognizance of the way tanker and trailer drivers were causing a lot of discomfort to road users in the state.

He made references to the Iyana-Ipaja and Ojuelegba accidents.

Abafi, however, assured Lagosians that NSCDC would join hands with other sister agencies to prevent the occurrence of such ugly incidents in the nearest.

10 News Kunle Azeez

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ollowing the massive deactivation of over 37 million subscribers on their networks, telecoms operators have begun a struggle to quickly re-register the affected customers to retain them on their respective networks.

The development is coming as the operators move to retain their subscribers and still attract new subscribers from among their competitors' subscribers, who are currently disgruntled due the deactivation of their SIM lines.

Meanwhile, as affected subscribers continue to besiege the operators' customer centres to reregister their SIMS, operators are also strategising on ways to retain their subscribers.

Already, checks by New Telegraph showed that some of the telecoms operators have extended work hours at their various customer services centres across the country.

The move, it was learnt, was to be able reregister their affected subscribers, before they move to competitor's network out of frustration.

The telecoms operators were, on August 4, directed to deactivate over 37 million Subscriber Identity Module (SIM) lines

national

SIM validation: Telcos battle to regain deactivated customers by the telecoms regulator, the Nigerian Communication Commission (NCC).

The directive followed the NCC's discovery that over 45 per cent of alreadyregistered SIMS by the operators were invalid.

NCC said it made the discovery last December

Abuja

T

o meet the Federal Government’s expectation of increased tax revenue flow, Acting Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, has sought for collaboration of Audit Firms, Chartered Accountants, tax consultants and other professional service providers in order to ensure increase in revenue collection.

One of such meetings held in Abuja recently according to a statement issued over the weekend

by FIRS Director, Communications and SERVICOM Department, Emmanuel Obeta .

During the meeting, the statement added , Fowler pointed out that the collaboration between the profession service providers, States Board of Internal Revenue (SBIR) and FIRS will mark a turning point for taxation as well as reduce the reliance on oil for Nigeria.

Buhari has not shut down Aso Rock Chapel — Presidency Anule Emmanuel Abuja

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he leadership of the Aso Villa Chapel has denied speculations and reports in some section of the media that the President Muhamamadu Buhari has ordered the closure of the worship centre.

Officials of the chapel said yesterday that it was a rumour and handiwork of mischief makers.

Acting chaplain, Pas-

after a clean-up exercise of the already-collected subscribers' data sent to the Commission by the operators.

However, last week's massive deactivation of SIMS by the network was informed by the imposition of N120.4 million

sanction on the operators due to their reluctance to follow the directive.

Corporate Services Executive at MTN, Mr. Akinwale Goodluck, at the weekend, said the telecoms company had extended its operation times from 8am to 8pm in order

to create enough time for people to register their deactivated SIMs. "We wish to apologise to all our customers who are experiencing difficulty with the ongoing SIM registration/revalidation exercise. Affected customers can revalidate their

L-R: President, Association of Communication Scholars and Professionals of Nigeria (ACSPN), Prof. Lai Oso; Mass Communication Lecturer, Chudey Pride and Chairman, Board of Trustees, ACSPN, Prof. Idowu Sobowale, at the 2nd Annual Conference of the association in Lagos…recently.

Fowler seeks collaboration with audit firms, tax consultants Abdulwahab Isa

monday, september 7, 2015 NEW TELEGRAPH

tor Joseph Sheyi Malomo, admitted yesterday that though there were some procedural issues last Sunday that needed to be sorted out, the presidency at no time ordered the closure of the chapel.

The Presidency shared photos from the church service to back up its claim. It's been trending on social media that President Muhammadu Buhari has closed down the Aso Villa Chapel which is close to his official residence.

registration details at all MTN sales outlets including the nearest agent and dealer shops.

"We appeal for calm as customers visit our various outlets. We are committed to ensuring that all affected subscribers complete the process as directed by the Nigeria Communications Commission (NCC).

"It is for this reason that we have increased the number of staff handling SIM registration/validation across all our channels. We have also mandated all our registration outlets to remain open till 8pm every day until further notice,” he said.

MTN, with the largest number of telecoms subscribers of over 62 million on its network, has 18.6 million invalid subscribers on its network, according to NCC. Other operators share the remaining numbers of the over 37 million.

Also, Airtel had also added every Sunday of to its work days at its customer centres across the country starting from 12pm daily.

Meanwhile, investigation by New Telegraph yesterday revealed that telecos have started losing revenue due to the implementation of the regulator's directive, asking them to deactivate subscribers with defective registration data on their networks.

Crisis brews at Yaba neuropsychiatric hospital Oluwatosin Omoniyi

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fresh crisis is brewing at the Federal Neuropsychiatric Hospital, Yaba-Lagos, where workers have downed tools for three months.

The latest crisis is about the tenure of the medical director of the hospital, Dr Raman Abolore Lawal, whose tenure expired August 20.

While the medical director brandishes a letter purportedly written by the Federal Ministry of Health to prolong his ten-

ure, the workers argued strongly that, not only has his tenure expired, but he has passed the retirement age of 60.

A copy of the recommendation letter written to the Medical Director by the Permanent Secretary of the Federal Ministry of Health, L N Awute, which was cited by New Telegraph and dated August, 20, 2015, said, “I write to extend my modest compliments and to acknowledge receipt of a letter dated 19th March, 2015 from the Board Chairman of the Federal Neuropsy-

Court sacks NYCN executive council Tunde Oyesina Abuja

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n Abuja High Court has sacked the President of the National Youth Council of Nigeria (NYCN), Ikenga Ugochinyere, along with 22 other officers barely one month they were elected into office in Abuja.

The court voided the congress and the election that produced them on August 6 and barred them from parading themselves as officers of the youth body.

Delivering judgment in a suit instituted by the

Incorporated Trustees of the Peace Corps of Nigeria (PCN) to challenge the NYCN congress that brought the officers to office, Justice Valentine Ashi, ordered them removed from office on the ground that the constitution of the NYCN was grossly violated by the defendants in the court action that challenged the election.

Justice Ashi held that their election of August 6 cannot stand in the face of the law in view of the brazen breach of the NYCN constitution on election matters.

chiatric Hospital,(FNPH), Yaba, concerning the above subject matter.

While the request for the appointment as the medical director is being processed, I am also to convey approval of Management for you to act in the same capacity after the expiration of your tenure on 21st August 2015, pending conclusion of a special Committee assignment on the subject matter. The decision is predicated on the preponderances of comments and reports reaching the Ministry, each with a different interpretation of the tenureship of Dr. Lawal as the Medical Director, FNPH, Yaba, giving rise to disruption of services currently being experienced in the Federal Neuropsychiatric Hospital, Yaba. Accept the assurances of my esteemed regards, please.”

The letter was addressed to Dr. Lawal. But sources at the hospital, who spoke in confidence to New Telegraph, said that the medical director was only buying time as he attained the mandatory age of 60, early this year.

“It is either you retire at 60 or the attainment of 35 years in service. In

this case, the man is officially 60. We even learnt that he was 60 years old few years ago but went to alter his age. Our question is, why is he afraid of going home? We don’t want to dwell on mere allegations that he had influenced the latest renewal in Abuja. But we firmly believe that it is in the interest of the staff and hospital if President Buhari would look deeply into that his tenure again.”

The source added that by tomorrow(Tuesday), workers of the hospital might be forced to shut down everything in the hospital, if nothing was done urgently about Dr. Lawal.

Many of the workers are scared of voicing their opinions publicly.

But in a letter signed by the three unions of the hospital, they questioned the authentication of the letter written to Dr. Lawal. “Could this letter really be from the Permanent Secretary of the Federal Ministry of Health, MR. L. N. AWUTE?” Hence, they cautioned the Federal Ministry of Health that the hospital which is in crisis again and that has totally shut down because of the letter.

NEW TELEGRAPH MONDAY, SEPTEMBER 7, 2015

Rivers

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Amaechi: Battling probes on three fronts

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Politics Trouble times for ex-governors This, indeed, is not the best of times for some former governors. On one hand, the erstwhile state chief executives are being subjected to probes by their successors with various probe panels instituted against their administrations.

Also, the anti-graft agencies – the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) – have launched probes against them. New Telegraph’s correspondents report on the various probes Suswam contends with four probes The political feud between incumbent governor of Benue State, Governor Samuel Ortom, and his predecessor, Gabriel Suswam, has assumed a disturbing dimension following the setting up of four probe panels to investigate the eight-year tenure of the last administration in the state.

Although, the Ortom’s administration said the rationale behind the probe is not to witch-hunt anybody, the body language of the government shows its readiness not to leave any stone unturned and if found wanting, the former governor would be prosecuted.

AYODELE OJO

DEPUTY Editor, POLITICS ayodele.ojo@newtelegraphonline.com

© Daily Telegraph Publishing Company Limited

Akpabio

Chime

Governor Ortom had immediately after taken over the helm of affairs in the state, launched four probe panels to investigate Suswam. He was quick to first, raise a Personnel Audit charged with the responsibility to audit the workforce in the state even before salaries could be paid to workers. The aim was to fish out ‘ghost workers’ and possibly reduce the wage bill.

Ortom also set up a 16-man Transition Committee with former Head of Service, Mr. Mike Iordye as the chairman. Iordye served as Head of Service under the Suswam administration for six and half years. The committee was given the mandate to “study the handover notes of the last administration, interact with Ministries, Departments and Agencies (MDAs) in the state public service and ascertain the state of affairs, ascertain the assets of the state including physical assets and investments, review the revenue collection machinery of the state with a view to mproving revenue

months, will probe how such monies were applied, contracts awarded and who awarded them, status of the various jobs, identify any case of fraud and recommend appropriate sanctions.

The probe panel on assets verification was also set up and is chaired by Barrister Moses Atagher, with the mandate to determine all landed property, vehicles, shares, equipment, factories and their location and to determine whether such assets were under lease agreement, to determine the identity of the persons behind the lease, its terms and so on.

But Suswam has said he is not afraid of being probed, even as he tasked his successor to also beam his searchlight on the administration of Senator George Akume whom he alleged had collaborated with his now estranged political godfather and former Senate President, Dr. Iyorchia Ayu, to sell the state’s only standing company, Benue Cement Company (BCC).

Fashola

Suswam

No amount of intimidation will stop us from probing Shema’s administration

generation as well as ascertain the level of indebtedness of the state including commercial bank loans, state revenue bond, arrears of pensions and gratuities, indebtedness to contractors, judgement debts, foreign loans, arrears of salaries and CBN loans.”

But the committee deviated from its major responsibility and veered into a probe by visiting projects done by the last government in the 23 local government areas of the state. In the report presented to Governor Ortom on Wednesday July 12, the committee indicted the Suswam administration of massively looting the state treasury and leaving behind a N130 billion debt.

Yet, on the same day, Ortom constituted two other strong judicial commissions of inquiry with one headed by Justice Margaret Kpojime to probe all revenues that accrued to the state between 2007 and 2015 when Suswam bowed out of office. The committee, which is to submit its report within six

Chime faces graft charges Several petitions have been lodged by different groups and individuals against the immediate past governor of Enugu State, Mr. Sullivan Chime. The petitioners alleged gross misconduct, fraudulent activities and acquisition of public property by the ex-governor.

Among the groups that have raised petitions to either the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) include the Enugu State Development Association (EDA), Save Enugu Group, and former National Auditor of the Peoples Democratic Party (PDP), Mr. Ray Nnaji.

They differently alleged that Chime, with some of his former aides, separately and jointly participated in alleged N3.6 billion Enugu State Universal Basic Education Board (SUBEB) scam; converted public properties such as the Presidential Hotel, Enugu to personal use; different land acquisitions such as Polo Park, parts of International Conference centre premises, different recreation parks, Eastern region industrial park, Old motor park, government residential houses and many more properties.

Interestingly, the present administration of Hon. Ifeanyi Ugwuanyi seems to be paying deaf ears to the myriad of allegations against his predecessor and is not ready to probe Chime and his alCONTINUED ON PAGE 12

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Politics

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

leged collaborators in the looting of the state.

The can of worms was blown open by the last session of the state House of Assembly led by Hon. Eugene Odoh, which exposed the alleged fraudulent activities of Chime and made attempt to impeach him but did not succeed.

The Assembly alleged that Chime confiscated different property of the state government, using lawyers, mostly from Anambra State to convert government property to self without even paying a dime to the coffers of the state government.

Nnaji, just before Chime left office, brought before a Federal High Court sitting in Enugu, a motion on notice, seeking an order of mandamus on the EFCC to investigate the alleged gross misconduct and financial recklessness by the administration of Chime.

Joined in the suit are Chime’s sons, Nnamdi and Tochukwu; his former Chief of Staff, Ifeoma Nwobodo; his brother, Jide Chime; sister, May Orji; state chairman, Enugu PDP chapter, Ikeje Asogwa, and Accountant General of the state.

Nnaji in a petition to EFCC alleged that Chime misappropriated public funds worth N12.8 billion and forged the supplementary appropriation law 2012.

Acting President General of EDA, Chief Enechi Onyia (SAN) told New Telegraph that the organisation is compiling the litany of Chime’s recklessness and will soon take the ex-governor to court to compel him return all the alleged converted property such as the state water corporation among others.

When contacted, both the EFCC and ICPC zonal offices in Enugu said they were not handling the fraud case against Chime but their head offices in Abuja. ICPC Assistant Chief Superintendent for public enlightenment in Enugu, Chinwe Nwozor, said they were not investigating the ex-governor same as the EFCC media officer in Enugu, Jide Ilupeju who made the same remark.

It is not clear if Chime has visited any of the anti-graft agencies for questioning but his former Chief of Staff, Nwobodo, was invited for questioning.

Elechi as EFCC’s guest In Ebonyi, Governor Dave Umahi has resolved not to probe his predecessor, Chief Martin Elechi, whom he served as deputy governor. Yet he has continued to criticise some of the policies and programmes of Elechi, especially the alleged corruption that characterised the last administration.

Umahi had accused Elechi of plunging the state into debt through excessive borrowing amounting to billions of naira. He said this has affected his administration adversely as the state is yet to recover fully from the debt.

The governor also accused his predecessor of leaving behind many uncompleted projects with their contract sums highly inflated.

He puts debts owed contractors by Elechi at N52 billion. He blamed Elechi for embarking on bogus projects which he failed to complete before leaving office. Questions are being asked over the projects.

Addressing former caretaker committee chairmen of local governments and coordinators of development centres on assumption

MONDAY, SEPTEMBER 7, 2015 NEW TELEGRAPH

Fashola, Akpabio, Chime, of office on the need to work with them, Umahi said probing Elechi is like probing himself as he was part of the administration as the deputy governor.

“We have no intention of probing the past administration because I was part of that administration. Elechi was my boss and no one will probe a government he was part of,” he said.

But Elechi since leaving office on May 29, has been a regular visitor to the EFCC following petitions against him by some prominent politicians in the state who accused him of misappropriation of state funds.

It was learnt that the former governor has over 57 petitions against him before the EFCC. He had during a media interaction few days to the end of his administration said he will always answer anti-graft agencies any time he is invited on financial dealings while in office.

His lieutenants, especially former caretaker committee chairmen and development centre coordinators, have been undergoing probe by the state government and the House of Assembly.

The sacked local government bosses were accused of embezzling over N1 billion while in office. Already, the state government has set up a committee to recover the money. The former council chairmen had defected to the All Progressives Congress (APC) and said that they are being probed as a result of their defection.

But Governor Umahi had vowed that nothing will stop him from recovering the fund. While addressing contractors handling projects for the state government, Umahi called on the 13 caretaker commit-

Lamido

Shema

Aliyu

Jang

tee chairmen to make available the public funds they allegedly stole to be free from their on-going probe by the Assembly.

Already, the EFCC is investigating Elechi over allegations of fraud and diversion of local government funds. The former gover-

Amaechi: Battling probes on three fronts Former governor of Rivers State, Rotimi Amaechi, is contending with probes on three fronts – Commission of Inquiry, the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC).

EMMANUEL MASHA reports

S

ince May 29, when former Governor Rotimi Amaechi left office in Rivers State, series of petitions have flooded the Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and other Related Offences Commission (ICPC), and the commission of inquiry, instituted in the state to investigate the sale of government assets during his administration.

Since the Justice George Omereji-led Judicial Commission on Inquiry commenced sitting in Port Harcourt, there have been startling revelations over the way and manner prized state assets were disposed in the last days of the Amaechi administration, with key ministry officials giving testimonies. There have equally been allegations of shady contrac-

tual agreements on projects.

The EFCC has capitalised on the mood against Amaechi by initiating a probe of his administration after the Integrity Group petitioned the commission over alleged corrupt practices by the former governor.

Again, the ICPC has reportedly commenced investigations against Amaechi.

So, from the way things are, Amaechi is arguably the only former governor that is being investigated on three fronts over allegations of corruption.

According to documents signed by EFCC’s Head, Economic Governance, Olufunke Adetayo-Ogunbode and addressed to the Permanent Secretary, state Ministry of Finance, the former governor is primarily being investigated over the sale of valued state assets, including Clinoriv Specialist Hospital and Leisure Limited, which was engaged to construct the still-born Karibi Whyte Specialist Hospital.

Another letter was said to have been addressed to the state Accountant-General over the collection of Internally Generated Revenue (IGR) during the former governor’s time in office. Specifically, EFCC’s letter to the Accountant-General seeks to find out the details of IGR between 2007 and 2015, as well as the evidence of disbursement and five per cent retained within the period among other requests.

Part of the letter addressed to the Permanent Secretary, Ministry of Finance, reads: “The commission is investigating a case of conspiracy, abuse of office and fraud. In view of the above, you are kindly

requested to furnish the following: Details of all the assets sold to the NG Power-HPS Limited; total amount received and the account it was paid into; Sales Agreement/ Memorandum of Understanding; House of Assembly resolution/approval; investments made from the proceeds if any; documents indicating due process; and any other information that will assist the commission in its investigation.”

But, Amaechi has described his probe as a distraction put in place by Governor Nyesom Wike to siphon billions of naira from the state treasury. For this reason, he has distanced himself from the commission.

A statement from the former governor’s office states: “No matter how hard Wike tries, the public can clearly see through his fraudulent deception and the sham he calls Commission of Inquiry to probe Amaechi.

“That panel was set up to indict Amaechi of corruption. Everything about the probe commission is at variance with the ethics and laws of a fair, just and unbiased probe commission.”

What are the allegations against Amaechi before the commission? According to the head of Safety and Aviation Department in the Rivers State Ministry of Transport, Mr. Saya Antiok, the former governor sacked his cabinet during his first term in office in order to award the monorail contract to TSI Property and Investment Holding Limited, at the sum of N50 billion. Antiok further told the commission that the choice of a technical partner for the project caused disagreement

Politics

NEW TELEGRAPH MONDAY, SEPTEMBER 7, 2015

13

Suswam, ex-govs face probes the State’s Accountant General, Mr. Edwin Igbele. The commission had also grilled Elechi’s son, Nnanna. He was said to have answered questions on allegations of money laundering through contracts that were allegedly awarded to him.

Kwankwaso

Elechi

nor was quizzed by operatives of the anti-graft agencies on June 16.

The EFCC had, in January, quizzed Elechi’s Commissioner

Amaechi

between Amaechi and his cabinet, which was why he dissolved the cabinet.

Then, there is the controversial lease of Olympia Hotel through a concessionary arrangement with Centrum Properties Nigeria Limited for 40 years at a total cost of $3.450 million. According to the terms of agreement in the 40 year concession agreement, Centrum Properties was to pay the Rivers State Government a concession fee of $50,000 per annum for five years.

The Project Director, Centrum (Cenpropsaroten) Properties Nigeria Limited, Chinedu

Yuguda

Alao-Akala

for Finance, Mr. Timothy Odaa, his counterpart at the Ministry of Local Government and Chieftaincy Matters, Mr. Celestine Nwali, and Okpareke, during cross examination, said that the value of the Olympian Hotel, which was demolished to pave way for the new hotel to be built by Centrum Properties was put at between $110 and $120 million.

He noted that the value of the demolished Olympia Hotel would have risen to about $336 million in another 40 years.

Another revelation is that Amaechi made two separate request for N35 billion same day from the state’s reserve fund, and did not specify what he wanted to do with the funds. The clerk of the Rivers State House of Assembly, Sir Emmanuel Ogele, who revealed this, told the commission that Amaechi’s letter requesting the fund was missing.

Another raging issue is whether or not Amaechi left behind N7.5 billion or N10 billion in office.

It would be recalled that Amaechi alleged that Wike lied about the money he met in the state’s treasury when he assumed office, insisting that he left N7.5 billion on May 29.

Amaechi said: “We repeat that N7.5 billion cash were left behind as balances in the state IGR account with Skye Bank, FAAC account with Zenith Bank, balances with Access Bank and funds in the state reserve fund account in First Bank…”

Wike has dismissed the claim, insisting that he met an empty treasury when he assumed office. He said that Amaechi could not have been in control of such huge amount, while he was unable to pay workers, pensioners, contractors and offset the school fees of the state’s students on scholarship abroad.

Just last week, the ICPC commenced the probe of Amaechi’s administration. The antigraft agency had dispatched its operatives to Rivers State to investigate activities of the administration.

Lalong, Jang tango on the Plateau The tantrums between the PDP and APC in Plateau State prior to the May 29 handover date, clearly suggest that the probe of the immediate past administration of the PDP led by Jonah Jang was only a matter of when and not if.

Thus, it wasn’t a surprise when the APC-led government under Governor Simon Lalong announced that the Jang administration left a debt of N222.3 billion. With such a huge debt, Lalong vowed to probe former Governor Jang now a senator.

According to the report submitted by the Plateau State Transition Committee, headed by the state deputy governor, Prof. Sonni Tyoden, the sum of N747.65 billion should have been expended on Plateau State citizens in the last eight years.

The report, however, stated that, “looking at the state in its current condition, we are at a loss where all these monies went to and we maintained that an individual in the last administration became lords over others.”

However, Senator Jang described the report of the committee as untrue, insisting that he left debts and liabilities of N103.9 billion.

Former Attorney General and Commissioner for Justice in the state, Olivia Dazyem, described the committee’s report as a clear distortion and manipulation of facts, aimed at personal vendetta, witchhunt and smearing the good name and achievements of the outgone PDP government led by Jang.

Not interested in playing to the gallery on his decision to recover the state’s looted funds, Lalong came out with a strict mandate to all government officials in the Jang administration accused by the transition committee of misappropriating public funds, to within two weeks return the monies or face the wrath of the law.

Masari goes after Shema Governor Aminu Bello Masari makes no pretence about his desire to probe his predecessor, Ibrahim Shema.

Shortly after the former Speaker of the House of Representatives came into office, he set up various investigative committees to look into contract awards, state and local government joint account and financial transactions of the state government between 2007 and 2015.

At several fora, Masari accused Shema of corruption and vowed that the former governor will be prosecuted.

Governor Masari accused Shema of diverting over N7.5 billion into his private pocket. He also accused the former governor of misappropriating over N76.6 billion collected as excess crude oil allocation.

The governor said he has “concrete evidence” to drag his predecessor before EFCC to recover stolen funds.

While receiving the Emir of Daura, Alhaji Umar Faruk Umar, who paid him a visit in Katsina recently, Masari stated that Shema would only escape from the hammer of the EFCC if he agrees to return the looted funds.

The governor promised that all stolen public money would be retrieved to correct past mistakes and bring sanity into the public service.

Besides, he said that Shema and other top government officials of the Ministry of Local Government Affairs connived and faked used receipts to divert over N750 million earmarked to purchase drugs for local government councils.

“No amount of intimidation will stop us from probing Shema’s administration. It is better for them to return all the looted money or face the wrath of the EFCC. We will run an open door policy,” he said.

As it is, the state government will soon drag the former governor to any of the anti-graft agencies.

Already, the ICPC has commenced the probe of Shema.

Investigating the Chief Servant For immediate past Niger State governor, Dr. Mu’azu Babangida Aliyu, the anti-graft agencies are not yet after him. Even his successor, Governor Abubakar Sani Bello, had initially declared that he is not willing to probe him.

He, however, stated that if there are evidences of wrongdoings, he will ask questions. The governor has already asked his predecessor to refund N2.9 billion allegedly shared on the eve of his departure.

According to Bello, “there is no time for probing, but that does not mean that we will not investigate when it becomes necessary.”

But the Niger State House of Assembly is kicking. The Assembly has mandated Governor Bello to set up a Commission of Inquiry to probe Aliyu. The Assembly in a letter sent through the Clerk, Abdullahi Kagara, mandated Bello to investigate the alleged fraudulent manner in which Aliyu conducted the activities of the state for the eight years he was in the saddle.

The governing APC has thrown its weight behind the Assembly, insisting that Aliyu must be probed.

The governor seems to have made a U-turn on his initial stand not to probe Aliyu. He has set up two committees to look into the inherited finances and infrastructure.

The two committees, which are yet to come up with any findings, are to look into the finances and infrastructure between 2007 and 2015. While the infrastructure committee headed by the APC state chairman, Engr. Mohammed Jibrin Imam, is to look into the infrastructure inherited, the viabilities and the inventory of all the liabilities by connecting with the relevant MDAs; the finance committee headed by a seasoned financial manager, Alhaji Mohammed Nda, is to ascertain the financial assets and liabilities of the state and local governments as at May 29, 2015.

Already, the state government, according to the Chief Press Secretary to the Governor, Dr. Ibraheem CONTINUED ON PAGE 16

14

MONDAY, SEPTEMBER 7, 2015 NEW TELEGRAPH

Opinion The credibility crisis Dominik Umosen

A

s every social scientist worth the name knows, one of the most difficult moments for a child to manage is the disappointment of discovering that he or she might have been consistently lied to or taken advantage of by either the father or mother. The ensuing devastation there from often triggers a trauma so intense that it may lead to permanent loss of confidence in authority figures in later life.

In worse case scenarios, extreme deviance or anti-social behaviour in adulthood are usually scars nursed from traumatic experiences like this during childhood. And if he has any regard for the well-being of younger folks who will presumably inherit the change promised by his party, the Publicity Secretary of the ruling All Peoples Congress (APC), Alhaji Lai Mohammed should apologise or hide under the convenient lie that he was misquoted in his thoroughly-irresponsible statement that neither his party nor President Muhammadu Buhari made any specific promises to Nigerians within the first 100 days in office.

The eloquent propagandist told Channels Television that ‘Buhari never promised he was going to do anything in his first 100 days in office. That is the honest truth’, said the wannabe realitymanipulator whose bare-faced lie instantly triggered an uproar in the social media.

‘You see, when you are running a campaign, all kinds of literature will emerge with all sorts of volunteer groups, but I came here and I said

there are only just two documents that you can judge a party with- that is the constitution of the party and the manifesto of the party. Those are the only two documents that are registered with the Independent Electoral Commission (INEC).

You can go to court on or hold a party accountable for’, Mohammed told Nigerians most of who are yet to snap out of their shock on account of this traumatic lie.

Even if this political spin doctor saw nothing wrong in dipping the credibility of his party in avoidable crisis, he ought to have given his compatriots some credit by acknowledging that not every one might have forgotten, so soon, all the incredible tales his party told Nigerians. Lai’s shocking denial that his party ever made promises to Nigerians is not only a damning act of selfindictment but, most tragically, a vindication of former presidential spokesman, Dr. Reuben Abati who, in an interview ran by Saturday Telegraph, said that hostile and false propaganda accelerated the ouster of former president, Dr Goodluck Jonathan.

Mohammed could not have vindicated Abati better than deny, as he did on television, that the APC and President Buhari never promised to do anything for Nigerians in their first 100 days in power. And perhaps to compound the credibility crisis this denial has won for the bumbling party and the president, angry Nigerians invaded every platform in the social media to register their disgust with the party for this pathetic attempt to deny the consequences of its own propaganda.

Besides angry folks who still are yet to come to

terms with this volte-face by the party, others have openly wondered if the arrested development in governance is a confirmation of Professor Rufai Alkali that the new ruling party is finding it difficult, if not impossible, to migrate seamlessly from the rascality of political opposition to the grace that is often associated with a ruling party.

According to them, if Mohammed could lie so easily and effortlessly about promises that are welldocumented, there is legitimate basis to suspect that the party may ever fulfill any of the other promises that it also made to Nigerians.

Among those who provided cold comfort for the authors of the denial was the Centre for Democracy and Development (CDD). It responded with a rebuttal contained in an article released penultimate Monday that “it is too late for President Buhari to disown the promises on the basis of which Nigerians voted for him”.

Specifically, Oluseun Onigbinde, one of those behind the CDD’s promise-tracking Buhari Meter, referred the party to a speech he delivered in the UK in February when then candidate Buhari dismissed talk of what should be done within 100 days. He wondered how the party and Presidency could insult the intelligence of the people by going back on its promises. The only way out of this credibility crisis is a quick and graceful refutal, else Abati, Alkali and others who say the party has nothing to offer Nigerians than blackmail the former administration in the country would be vindicated.

• Umosen wrote from dominik.umosen@gmail.com

Mr. President, fighting corruption is not rocket science Aloy Ejimakor

I

n Nigeria of the Muhammadu Buhari era, fighting corruption and the methodologies have become the mother of all public debates. The renewed and heightened interest corruption has generated has somewhat diminished the importance of other hot-button national topics, such as fighting terrorism, adjusting to the free and ominous fall in oil prices, and national unity.

Yet, the way the debate is going, the President may, despite his good intentions, lose the requisite focus and despatch; and ultimately succeed only on the platitudes and prescriptions but not the cure. Such signs are already there, judging by the President's recent public appeal to lawyers to, in essence, reject corruption briefs. On the other extreme, the Sultan weighed-in by telling spouses to reject gift from their husbands if they suspect it to be from fruits of corruption. Both positions, as nice as they sound, suggest some national frustration and a creeping lack of a strong and clear handle on the task at hand.

But the most worrisome is the suggestion from some quarters that Nigeria now needs special courts to succeed in fighting corruption.

All of these declarations, as wellintentioned as they are, sadly make fighting corruption look like some rocket science, requiring the best of ingenious efforts to succeed. It is my humble submission that, instead of a rocket science, fighting corruption

is actually a basic science, comprised of basic laws, basic vision, basic guts, and basic everything else we already have in place. Below are my reasons: One: Contrary to the President's thesis, lawyers are strictly bound by their professional calling to accept any case that tickles their professional fancy. In other words, a lawyer will not reject a brief just because society considers the offence alleged as heinous. Instead, it is the enormity of the crime, especially in terms of its monetary impacts, that is often the best selling point to land the best of lawyers. Amongst these are corruption cases which are especially considered lucrative briefs because of the high personas and the sheer quantum of the legal fees involved.

Add the constitutional presumption of innocence and guarantee of fair hearing, then you can see the more reasons why the President's admonition won't fly, despite the bully-pulpit, great intentions, warts and all.

Thus, lawyers are not to be expected to reject corruption cases, even when patently egregious. So, instead of the appearance of suborning a universal rejection of cases, what President Buhari requires is a gathering of equally skilled (and yes - patriotic and idealogically-compliant) lawyers to prosecute corruption cases. When you have such lawyers, they will ensure that any corruption case that goes to court will be backed by material, relevant and admissible evidence that will have the best chance of clinching a conviction. I say this because almost all the corruption cases lost by EFCC since 1999 stemmed from a systematic lack of sufficient and damning evi-

dence, if at all they made it to trial.

Most were dismissed for failure to prosecute, an euphemism for cases that lacked the basic evidence to even sustain them on the court's criminal calendar. The few that remained in the courts are stacked on the back shelfs, gathering dust and constituting a national embarrassment.

Two: You don't need special courts to try corruption cases. James Ibori was not convicted by a special court but by some regular British court.

Plus, you can't get a special court without an Act of the National Assembly - a process likely to become dicey or gridlocked if the alpha males of the National Assembly suspect that they might be caught in the web of the procedural laxity such law is intended to create. Further, if the ultimate intention is to water-down the standard of proof in such courts, then a constitutional amendment becomes a must, all with its many complications, difficulties and profound political risks to the President.

Recall that it's the Constitution, rather than any subsidiary law, that conditioned criminal conviction on proof of guilt beyond reasonable doubt - a rigid requirement that goes to the basic tenets of Nigeria's adherence to the common law and constitutionalism. The possible exception lies in amending the laws to convert corruption to a civil wrong. In such event, proving an act of corruption will thenceforth be by a preponderance of the evidence but which, instead of imprisonment, results only in civil forfeiture of the fruits of the corrupt act.

Three: Given that special courts

may be a tall order in the interim, some special ordinary rules will do, because, as opposed to laws/acts, head judges are empowered to promulgate such rules. I'm not talking of rules of evidence or rules of criminal procedure, which even though adjectival, still require federal legislative action. I am talking of ordinary rules of court, especially those 'calendaring' rules judges are inherently empowered to make; or even the gardenvariety rules of engagement which can be enforced piecemeal to move cases forward and frustrate dilatory/ unprofessional tactics. I say this because dilatory tactics or lawyer-contrived delays contribute significantly to frustrating prosecutorial efficacy in the courts.

This is where I agree with the President that Nigeria needs tough and upright judges to help with the anti-corruption agenda. To be sure, there's a wide window here because, under the Constitution, the President can appoint as many High and Appeal Court judges as he likes; and nothing stops him from picking judges he considers ideologically committed to the anti-corruption agenda. If Buhari takes this part, his anticorruption body-language may then begin to stick where it's needed the most - the judiciary.

Four: We don't have to wait for corruption to occur before fighting it.

It's this sort of time-worn attitude that turns our entire attention to the courts and, to some extent, the EFCC alone.

• Aloy Ejimakor, a lawyer wrote from aejimakor@ gmail.com/0803 265 1660 (texts only)

NEW TELEGRAPH MONDAY, SEPTEMBER 7, 2015

15

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Thank you, history-making D’Tigers

hank you, Nigeria’s D’Tigers On Sunday, August 30,2015, in faraway Tunisia, our men’s national basketball team, known as D’Tigers, made history by winning our maiden FIBA Africa Basketball Championship, otherwise known as the AfroBasket.

For those who do not already know what the AfroBasket is all about, it is basketball’s equivalent of football’s Africa Cup of Nations, and D’Tigers’ victory on Sunday was historic in the sense that our boys had to wait for 43 long years after their AfroBasket debut, in 1972, before landing the continent’s biggest basketball prize.

Even our darling Super Eagles, then known as the Green Eagles, did not have to wait that long before claiming their maiden Africa Cup of Nations title in 1980.

Our dear country’s 43-year wait for an AfroBasket title was also longer than our 38-year wait for our maiden CAF Champions League title which came to pass just over a decade ago after Enyimba got the better of Egypt’s Ismaili in a two-legged final in 2003.

So one could only imagine the euphoria with which some of our countrymen and women – some, because a lot more Nigerians were unaware of what transpired in Tunisia on that beautiful Sunday night – greeted D’Tigers’ 7465 victory over Angola in the final of the two-week long championship.

Not many had given the team handled by American-born coach, William Voigt, any chance of emerging African champions at the end of the tournament much less getting one over the most successful country in AfroBasket his-

tory, Angola, who had won the championship a record 11 times.

We had also, heading into last Sunday’s final, never beaten Angola in nine previous encounters, two of which were in the championship games of the 1999 and 2003 finals. As a result, our boys were expected by many followers of the sport to lose to the Angolans. Maybe that was even why most media outlets, especially newspapers (not New Telegraph), failed to give our boys the much-needed attention they deserved all through the duration of the AfroBasket.

But not these Nigerians! No, these boys, like their D’Tigers nickname suggested, ran, jumped, roared, scratched and clawed their way to a hugely deserved victory over the Angolans to put their doubters to shame, much to the glory of their Fatherland.

Qualifying for the Olympics is no easy feat, and doing it via a pre-Olympic qualification tournament, as our boys had to do back in 2012 in Venezuela on their way to the London 2012 Olympics, can be likened to an African country such as Chad qualifying for the FIFA World Cup from a group comprising top football playing nations like Brazil, Germany, England, Argentina, Spain, Italy, Holland and France.

That is how tough the preOlympic qualification tournament can be and that was what our boys had to go through before qualifying for the London 2012 Olympics after finishing third in Venezuela at a tournament which had basketball powerhouses such as Lithuania, Russia, Greece, Macedonia, Puerto Rico, Dominican Republic and even Angola, in attendance.

So anyone who was left wondering why our boys and their coaches, as well as officials of the Nigeria Basketball Federation led by its president, Tijjani Umar, celebrated last Sunday’s win over Angola in such high spirits now know why, for D’Tigers have an automatic berth at next summer’s Olympics.

The Olympics will not get underway until August 2016, so the government, through the National Sports Commission, has to work hand-in-hand with the basketball federation to ensure that the boys get all they need to put in a respectable showing at the Olympics and perform better than they did at the London 2012 Games where they finished 10th out of the 12 teams in attendance, and were on the receiving end of an embarrassing 156-73 defeat to the United States of America.

All must be done to ensure that the team’s coach, Voigt, a former recipient of the Basketball Coaches Association of America Coach of the Year award, remains as the handler of our precious D’Tigers for it is apparent that the young but vastly experienced coach, like a tiger tamer, knows how to bring out the best in our boys.

In 2012, our boys embarked on various playing and training tours prior to the pre-Olympic qualification tournament in Venezuela and the London Games, which went a long way in preparing them for their maiden Olympic Games appearance.

Now that they are set to make another appearance at the Olympics, it would not be asking too much if the NSC could provide the basketball federation with

the much needed funds it requires to set up periodic training camps in Europe and America, as is the case with top countries such as the United States, where our boys can meet and train and continue to foster that indestructible spirit of camaraderie that they openly displayed for the watching world to see on their way to success in Tunisia.

But the basketball federation need not wait for government or the NSC as what better opportunity do they have to sell themselves to Corporate Nigeria than the one that has been provided by our boys’ victory in Tunisia.

Nigeria’s victory in Tunisia was absolutely deserved, and the manner in which our boys executed the final win over Angola, after getting the better of another old nemesis, Senegal, in the semi-finals, will for long be remembered by all who were opportuned to watch the final.

But, as was the case with the 1980 Green Eagles, who were each given keys to deluxe apartments in the then federal capital, Lagos, plus a Peugeot saloon car, or the Tunisia 1994 Super Eagles and their South Africa 2013 Africa Cup of Nations counterparts, who now own landed properties in various parts of the country, President Muhammadu Buhari should find some way to reward these heroes for making history in Tunisia, which would go a long way in encouraging them and those to come ahead of future challenges.

We say a heartfelt thank you to our heroes: Olumide Oyedeji, Chamberlain Oguchi, Al-Farouq Aminu, Alade Aminu, Olaseni Lawal, Michael Umeh, Michael Gbinije, Ben Uzoh, Andy Ogide, Stan Okoye, Jamal Olasewere, and Ike Diogu.

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16 Politics

MONDAY, SEPTEMBER 7, 2015 NEW TELEGRAPH

Govs probe predecessors C O N T I N U E D F R O M PA G E 1 3

Dooba, has recovered vehicles including two Range Rover jeeps, two saloon and a station wagon of Mercedes Benz brand from the former governor’s house and one Hilux Van from one of his aides.

Aliyu has said there is nothing to worry about the probe. His spokesman, Mr. Israel Ayegba Ebije, said there is nothing to link the former governor to any financial irregularities throughout his eight years in government.

Abubakar vs Yuguda: No deal yet The brickbat in Bauchi State between the incumbent governor, Muhammad Abubakar of the APC and his predecessor, Isa Yuguda of the PDP is understandable especially as the two major actors belong to different political parties.

Interestingly, the report of the Senator Mohammed Mohammed-led transition committee, set up to look into financial misappropriations as well as recovery of numerous government properties allegedly siphoned by some officials of the last government was mind boggling, especially with stories that a total of 22 vehicles were allegedly recovered from Yuguda’s wives by the committee; 11 cars recovered from his first wife, seven from the second wife and four from the third wife.

Abubakar had accused his predecessor, Yuguda, of destroying the state, explaining that he left an empty treasury and also plunged the state to a debt of N125 billion and months of unpaid salary arrears.

Speaking with State House Correspondents shortly after meeting VicePresident Yemi Osinbajo in Abuja, Governor Abubakar said the committee he set up to recover government property frittered away by officials of Yuguda’s government, already recovered 72 cars and 60 generators so far.

Though the administration is yet to arraign and prosecute the officials indicted in the report, the government said it won’t strike any deal with either Yuguda or anyone indicted with the aim of shielding them from the ongoing probe of past governors by the EFCC. Deluge of petitions against Akpabio For former governor of Akwa Ibom State and Senate Minority Leader, Godswill Akpabio, he has no problem with his successor, Governor Udom Emmanuel. But petitions against him abound with the anti-graft agencies.

The ICPC and EFCC are probing Akpabio over several petitions against him bothering on alleged money laundering, embezzlement, inflated contracts and sundry financial malfeasances while governing the oil-rich state between 2007 and 2015.

The EFCC has received a petition over alleged theft of N108.1 billion of state funds against the former governor. The petition was authored by an Abuja-based lawyer and activist, Leo Ekpenyong.

Ekpenyong had on June 8, petitioned President Buhari and the EFCC, calling for Akpabio’s probe for allegedly looting Akwa Ibom State treasury.

Investigations showed that several other indigenes of the state, who have demanded the investigation of the former governor, have been invited by the EFCC to adopt their petitions.

On his part, Ekpenyong was summoned on Wednesday, June 17, to adopt his petition and provide more details to some of the allegations he made against Akpabio.

He listed assets acquired by the former governor through surrogates to include a multi-billion naira mansion at Plot 5 Okogosi Spring Close, off Katsina-Ala Crescent, Maitama, Abuja; a multibillion naira

Masari

Ortom

Bello

Lalong

mansion at Plot 28 Colorado Close, Maitama, Abuja and another multibillion naira mansion at 22 Probyn Road, Ikoyi, Lagos.

Others include a multibillion naira mansion at Plot 23 Olusegun Aina Street, Parkview, Lagos and a multibillion naira 25-storey building at Akin Adesola Street, Victoria Island, Lagos.

In another petition on August 3rd, copies of which were sent to President Buhari and the Director General of the Department of State Services (DSS), Mr. Lawal Daura, Ekpenyong accused the former governor of having estates and properties in Port Harcourt in Rivers State; Lekki in Lagos; Banana Island in Ikoyi, Gbagada and Surulere, Lagos.

But the state Commissioner for Information, Aniekan Umana, who also served the Akpabio administration, described the contents of Ekpenyong’s petition as falsehood taken too far.

The ICPC is also probing the same allegations levelled against Akpabio by Ekpenyong.

Perhaps, CACOL’s call for the exgovernor’s probe was enhanced by the intermittent public disclosures of some contracts awarded by the Fashola administration by the Lagos State Public Procurement Agency.

Notably among information released was that the Fashola administration paid N78.3 million to a firm, Info Access Plus Limited, for the upgrade of his website through the Office of the Chief of Staff to the Governor.

The expenditure published on the state’s Public Procurement Office website, and first exposed by a budget analytic firm, BudgiT, indicated in the contracts awarded in 2014 that Fashola approved N78.3 million from the state’s treasury for the upgrade of his personal website, www.tundefashola.com.

Also, the former governor was alleged to have awarded a contract for the drilling of two boreholes for the Lagos House, Ikeja for N139 million.

Along the line, another issue that bordered on the Fashola administration was the revocation of the 50-year lease Fashola granted to Afriland Properties for the redevelopment of the Falomo Shopping Centre, Ikoyi by the current Akinwunmi Ambode-led administration.

Unlike other states where the current governors have already set up commissions of enquiry and panels to look into the books of their predecessors, Governor Ambode has not done such and it’s very unlikely he will do that.

But the ICPC has commenced the probe of Fashola on the strength of petitions against the former governor.

Fashola battles ICPC Regardless of the respite that came his way following the intervention and ‘clean bill of health’ verdict given to him by his predecessor, Senator Bola Tinubu, these are still not the best of times for the immediate past governor of Lagos State, Mr. Babatunde Fashola.

Prior to his exit as governor, Fashola acknowledged in his handover note to his successor, Governor Akinwunmi Ambode that he is leaving a debt of N418.2 billion, though some anti-corruption groups like the Coalition Against Corrupt Leaders (CACOL) argued that the debt profile is more than what was stated by the ex-governor.

No respite for Ladoja, Alao-Akala In Oyo State, there is no respite for

Governor Abiola Ajimobi’s predecessors – Senator Rashidi Ladoja and Otunba Adebayo Alao-Akala. Although, Ajimobi has not launched a probe into their administration, both the EFCC and ICPC are probing the former governors.

Ladoja was in the saddle between 2003 and 2007 of which there was interregnum of 11 months when his deputy, Alao-Akala, took charge. Alao-Akala governed between 2007 and 2011. Both had made futile efforts to return to office. Ladoja is still at the tribunal against Ajimobi over the 2015 poll, but he is being probed by the EFCC over the alleged mismanagement of N1.5 billion shares of Oyo State Government kept in some commercial banks. The former governor and one of his aides, Wale Atanda, were charged before a Lagos High Court in 2007. The case is still in court.

In 2011, Alao-Akala was also picked up by the EFCC along with his then Commissioner for Local Government and Chieftaincy Matters, Chief Hosea Agboola, and one of the government’s contractors, Mr. Femi Babalola.

The trio were arraigned by the EFCC for alleged misappropriation of N11.5 billion from the local government funds, as well as inflated road contracts. The case is still in court.

Just last week, the ICPC commenced investigation on Alao-Akala who left office in 2011.

A source said the ICPC is probing the N11.5 billion contract case which the EFCC is still handling and other petitions against the former governor.

Kwankwaso in the radar Since leaving office on May 29, former governor of Kano State and now senator, Rabiu Kwankwaso, has been contending with the anti-graft agencies.

Last week, ICPC dispatched its operatives to Kano in furtherance of investigation into corrupt allegations against the former governor.

Already, the EFCC is probing the exgovernor over alleged siphoning of over N10 billion money belonging to pensioners.

A lawyer had earlier rushed to a Kano High Court to prevent the probe of the former governor. Kwankwaso, however, disclaimed the lawyer.

Kwankwaso left N379 billion debt for his successor and former deputy, Dr. Abdullahi Umar Ganduje.

Ganduje and Kwankwaso are in good terms. There is no sign that he will probe his former principal.

A source said that the ICPC is probing the former governor in respect of the petition against him which deals with alleged corrupt practices.

Lamido battles EFCC, ICPC Despite the fact that former governor of Jigawa State, Alhaji Sule Lamido, is being probed by the EFCC and ICPC, his successor, Governor Muhammad Badaru has said he would not waste his time in probing him.

However, Badaru admitted that the EFCC had commenced investigation into certain financial mismanagement of the immediate past administration in the state.

Lamido along with his two sons – Aminu and Mustapha– is being tried by the EFCC for money laundering and other corruption related offences.

Now, ICPC has commenced another probe of the former governor.

Reports by: DENNIS AGBO (Enugu), WALE ELEGBEDE (Lagos), SOLA ADEYEMO (Ibadan), TONY ANICHEBE (Uyo), CEPHAS IORHEMEN (Makurdi), DAN ATORI (Minna), UCHENNA INYA (Abakaliki), ALHASSAN YUSUF (Bauchi), MUSA PAM (Jos), AHMED SANI MOHAMMED (Katsina) and MUHAMMAD KABIR (Kano).

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Interview

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Shittu: Why legislative agenda’ll produce effective law making

Widow asks appeal court to quash bench warrant

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Law Although the ruling All Progressives Congress (APC) has said President Muhammadu Buhari did not promise any specific achievements within his 100 days in office, notwithstanding, lawyers yesterday gave an appraisal of the President’s first 100 days in office. FOLUSO OGUNMODEDE, TUNDE OYESINA and AKEEM NAFIU report

Buhari: So far, so good

E

ven though they could not agree on what President Muhammadu Buhari has so far achieved in his 100 days in office, lawyers were unanimous that so far, so good, the President had signalled that Nigeria’s glory will shine again.

The hope of the Nigerian people has been restored within the last 100 days, one said.

It is also important for the National Assembly to perform its constitutional responsibility of checking the excesses of the President to ensure strict compliance with the provisions of the Constitution, failing which appropriate impeachment proceedings should be commenced against the president. If the president must know, nepotism, ethnic bigotry and marginalization of fellow citizens, are far worse than corruption. So, let the president put his house in order, another said.

Above all, lawyers applauded President Buhari’s 100 days in office, insisting that it is a new dawn in the country just as others have faulted the President on the recently made appointment

FOLUSO OGUNMODEDE JUDICIARY Editor

foluso.ogunmodede@ newtelegraphonline.com

© Daily Telegraph Publishing Company Limited

Buhari

of some key cabinet officers.

President Buhari who was sworn-in as Nigeria’s fifth executive president, clocked 100 days in office on September 5. He took oath of office on May 29.

There had been brickbats and accolades from Nigerians since he assumed office over his programmes especially the recent appointments into key positions including the anti-corruption war.

While Mr. Festus Okoye, Malachi Ugwumadu, Wahab Shittu and Mohammed Fawehinmi believe President Buhari has made tremendous progress in his 100 days in office, others differ.

For instance, Mr. Ebun-Olu Adegboruwa, Innocent Iginiebor and Kayode Ajulo said no tangible achievement had been recorded since President Buhari assumed the nation’s leadership since May 29.

The only achievement so far recorded in his 100 days in office could be seen as nepotism, ethnic bigotry and marginalization of fellow citizens, they chorused.

This, the trio of Adegboruwa,

It is envisaged that, in the course of running the affairs of the country, the President will carry the e

Ajulo and Iginiebor concluded were worse than corruption.

Particularly, Adegboruwa upbraided the President on the appointments of four individuals of northern extraction into key positions contrary to Section14 (3) of the 1999 Constitution.

This, alone, according to him had robbed the President of the confidence reposed in him to steer the nation’s leadership for four years.

Adegboruwa said: “In this regard, I believe that it is totally wrong to concentrate all major appointments in just one particular section of the country, in this case, the North. Virtually all major positions in the country, from the President, to the National Assembly, the judiciary, the financial sector, the armed forces, are mostly occupied by candidates from the northern part of the country in total disregard to the provisions of the Constitution.

“It is envisaged that, in the course of running the affairs of the country, the President will carry the entire section of the

country along especially in very sensitive appointments. With the latest appointments of his Chief of Staff, the Secretary to the Federal Government, the Heads of Immigration and the customs, all coming from the North, the general feeling is that the President is ruling on behalf of a particular section of the country and he does not care about the feelings or concerns of the other sections of the country.

“In particular, Section 14(3) of the 1999 Constitution stipulates that major appointments should not be concentrated in any particular section or region of the country. It is further stated that all actions of government should give due observance to the principle of federal character and the equitable distribution of all positions in order to give a sense of belonging to every section of the country.

“Furthermore, Section 42 of the Constitution prohibits any form of discrimination on the grounds of race or geographical location. These and other constitutional provisions have been wantonly disregarded by the President since he came into office.

“It would seem manifestly clear now that the President is gradually implementing his widely reported resolve, to patronize the zones that he claimed gave him victory in the 2015 polls.

“It is also important for the National Assembly to perform its constitutional responsibility of checking the excesses of the President to ensure strict compliance with the provisions of the Constitution, failing which appropriate impeachment proceedings should be commenced against the President. If the President must know, nepotism, ethnic bigotry and marginalization of fellow citizens are far worse than corruption. So, let the president put his house in order”.

Adegboruwa was echoed by Iginiebor, who said the nation had no proof to show that President Buhari meant well for the country.

To him, there had not been any tangible achievements recorded so far by the Buhari-led administration in the last 100 days.

Iginiebor said: “When people are commending this present government, I wonder the yardstick used to measure the level of the achievement.

CONTINUED ON PAGE 26

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MONDAY, september 7, 2015 NEW TELEGRAPH

Ajulo

Adegboruwa

C O N T I N U E D F R O M PA G E 2 5

“In my own view, the last 100 days were just used to enjoy the achievement of the past government. No new thing has been done.

“I know some people would say the war against corruption had since begun in full force. Well, my take on that is this: corruption is never fought and won in a hurry the way it is being done here. Take for instance, look at all the corruption cases which started recently, which of them has gone far?

“It is ridiculous that after 100 days, no cabinet has been formed”.

Ajulo simply said the President’s 100 days in office were nothing but a consistent abuse of the Constitution.

He said: “The fact that three months after his inauguration and five months after his election as President, President Buhari is yet to appoint ministers to oversee the affairs in the various ministries is in itself a mockery of the Constitution.

“Without any resort to sentiments, discerning persons across the nation have continued to wonder why the president is going about his governance and administration of the nation in such a counter-productive and archaic one-man show manner.

“Nigeria is a nation founded on law and the President’s approach to governance is fast becoming a travesty.

What makes it even more ludicrous is the fact that the Constitution which

Okoye

Buhari’s 100 days split lawyers the President has treated with such flagrant disregard is the very same document that creates, upholds and protects his office.

Ajulo although gave President Buhari a pass mark on anti-corruption war, he gave him a hard knock on his style of governance, describing it as counter-productive.

He went on: “While I totally agree with the President that corruption is an abuse of human rights, he needs to know also that our Constitution is our right to governance, therefore any violation of the Constitution is a violation of our rights as Nigerians.

“The drafters of the Constitution envisaged the enormous responsibility of the office and the burden of governance and hence made provision for the appointment of ministers to ease the burden and ensure effective governance and administration. This present resort to a solo voyage by Mr. President under the guise of shopping for competent hands is an unacceptable aberration that should be resisted by well-meaning Nigerians.

“Uncritical praise-singers of the president may want to argue that the Constitution never specifies the dates on which ministerial appointments should have been concluded, howev-

er, the truth is that a four-year mandate is what Nigerians have given President Buhari, and the questions on discerning an objective-minded persons are ‘at what point and time will the president come to terms with the reality of his emergence as president, and commence the serious business of governance and administration of the nation?’ ‘Does the president even realize that an attempt to bear the burden of governance and administration of the nation may be detrimental to his health, given the fact that he cannot be described as young and agile?’

But others diagree. Activist lawyer, Okoye, a University of Lagos law teacher, Shittu, scion of the Fawehinmi law dynasty, Mohammed and Ugwumadu insisted that Mr. President has done extremely well in his 100 days in office.

In Okoye’s view, President Buhari’s 100 days in office had indeed rekindled the hope of the Nigerian masses as the last 100 days of the Buhari administration had indeed restored people’s confidence that ‘there is light after the tunnel’.

He said: “The hope of the Nigerian people has been rekindled. The Nigerian people now believe that the country

can be fixed and that tomorrow may be better.

“No Nigerian territory has been taken over by insurgents since the new regime came to power. The difference is that services have been reinvigorated with the appointment of new service chiefs and procurement of new equipment. Nigerian troops are now doing what hitherto seemed impossible in the North East of the country.

“Some of the internally displaced persons are going back to their communities.

The international communities are poised to do business with Nigeria. Some of the countries have lifted arms embargo on Nigeria and foreign investors are in the wings and waiting for ministers to be appointed before moving into the country.

“The heads of public institutions are now taking their job and mandate seriously. The services in some of them have improved based on the credibility and no nonsense posture of the President. The zero tolerance of the regime to corruption is yielding results.

The regime should move as quickly as possible and appoint ministers and the full complement of the heads of other institutions.

Widow asks appeal court to quash bench warrant

B

arely three months after a Bench warrant was issued against her by a Lagos High Court, Ikeja, widow of a former permanent secretary of the Federal Capital Territory, late Deji Omotade, Mrs.Folashade Abiodun Omotade, has lodged an appeal.

She is asking the Court of Appeal to quash the Bench warrant, describing it as wrongly issued by the lower court.

Her husband, Omotade was one of those who died in the ill-fated Bellview Air crash on October 22, 2005.

However, Folashade

Omotade is asking the Lagos division of the Court of Appeal to invalidate the Bench warrant issued against her by the lower court.

Justice L.A.F. Oluyemi had on July 21 allegedly issued a warrant of arrest against Omotade’s widow, compelling the police to forcefully bring her before the court for allegedly refusing to appear before the court as directed.

But the widow claimed that there was nothing suggesting her appearance in court lest flouting the court’s order, insisting that the judge ‘erred in law by assuming juris-

diction over the contempt proceedings in civil suit instituted against the appellant, and issuing Bench warrant against the appellant.”

Dissatisfied, the widow’s lawyer and Senior Advocate of Nigeria, Professor Taiwo Osipitan headed for the appellate court wherein he asked the court to invalidate the warrant as it was wrongly issued.

According to him, the warrant was needless when there was a subsisting application for stay before the court.

Folashade’s appeal was filed at the Court of Appeal, Lagos on August 4.

According to the appeal, Folashade asked the appellate court to invalidate the Bench warrant as the “ learned trial Judge erred in law by issuing/ordering the issuance of a Bench warrant for the arrest of the appellant on account of appellant’s non-appearance in court on 21st July, 2015,” adding that “there was no proof of service hearing Notice of Court proceedings of 21stJuly, 2015 on the appellant.”

In the Notice of Appeal, her lawyer said that the “learned trial Judge erred in law, by assuming jurisdiction over the contempt proceedings in civil suit instituted against the

appellant, and issuing Bench warrant against the appellant.”

Besides, the lawyer insisted that “the right of the appellant to fair hearing was compromised or is likely to be compromised by the assumption of jurisdiction over contempt proceedings by learned trial Judge whose order is alleged to have been violated by the appellant.

“The learned trial Judge whose order was allegedly violated cannot be a judge in her own cause,” noting also that “the exercise of judicial power of issuance of Bench warrant for the arrest of the appellant during

the long vacation of the court compromises or is likely to compromise appellant’s right to personal liberty as enshrined by the 1999 Constitution (as amended).

Specifically, Folashade’s lawyer is seeking among others the following interlocutory reliefs; *an order restraining the court from executing the bench warrant *an order suspending the operation of the bench warrant; and *an order staying all further proceedings in respect of the contempt proceedings pending the determination of the appeal.

Law | Interview

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Wahab Kunle Shittu teaches law at the prestigious University of Lagos (UNILAG). Shittu in this interview with FOLUSO OGUNMODEDE reviewed the legislative agenda of the 8th House of Representatives and concluded that the agenda would produce effective law making and oversight responsibilities, among others if well implemented.

The 8th National Assembly is already getting back to work following its rancorous elections which dogged its leadership a few weeks ago. How would you look at its future in terms of effective law making?

Any serious minded legislature ought to be preoccupied with three fundamental functions, namely: effective representation, effective law making and effective oversight responsibilities. These are the core functions of any responsible legislature in a democratic setting. It is not the function of the legislature to turn the hallowed chambers to avenues for wrestling and boxing competitions. Nor is it the function of a responsible legislature to share money or carry ‘Ghana must go’ bags containing items of dubious origin.

A serious legislature will also not be preoccupied with jostle for leadership positions because that would border on individual interests as opposed to national interests for which they are elected.

In the same vain, a serious legislature should provide adequate checks and balances to other arms of government as well as collaborate with other stakeholders in delivering sustainable development and good governance.

The success or otherwise of any legislature is determined by its commitment to serious debates that would improve the governance process in the land. Consequently, a serious legislature must have a blueprint or a credible plan of action through which it intends to be assessed at all times, even by posterity.

It is on the strength of the above that I find the institution of a legislative agenda by the 8th Assembly of the House of Representatives a refreshing departure from the era of planlessness and lack of vision that may have characterized the legislature in the past, with only a very few exceptions.

The above commentary does not derogate from the quality of certain individuals in the previous legislature who have made substantial contributions to nation building rather than being bench warmers.

These distinguished parliamentarians certainly know themselves and may have written their names in letters of gold.

But how would you determine the scope of this National Assembly without necessarily elevating individuals for undue applause?

Shittu

Shittu: Why legislative agenda’ll produce effective law making The legislative agenda covers the following critical areas: Legislative needs assessment; Internal operations/processes; Committees of the House; E-parliament, e-voting, digitization, archiving; National Assembly Communication; Internal House Communication; Communication with the Senate; Communication with the Executive; Communication with the Public; Establishment of dedicated Radio and TV Station; Review of the National Budgetary Process; National Economy and Development; a. Nonremittance of internally generated revenue and Leakages; Infrastructure development; Legislative Initiative on New Cities and Regional Hubs of Development; Legislative initiative on North-East and NigerDelta; Legislative initiative on Unemployment; Legislative Initiative on Housing, Urban Development, Mortgages; Legislative initiative on Power; Legislative initiative on Security; Legislative initiative on Economic diversification; Priority legislation; Green legislation, Climate concerns, Desertification, Erosion, National concern, Poverty, Agriculture, Health, Gender Issues, Security, Unemployment, Water Access and Sanitation; Sectoral Debates; Review of the Laws of the Federation; Anti-Corruption; Constitution Reform Process; Harmonization of National Identity Data Management System; Reduction of Cost of Governance; Executive-Legislature Relations; Implementation.

How would this supposed agenda capture the expectations of Nigerians in the next four years?

Obviously, the significance of the document is already captured in the introductory remarks contained in the document. It states: “The 8th House of Representatives (2015 – 2019) takes off against

the 8th Assembly of the House of Representatives a refreshing departure from the era of planlessness and lack of vision

a background of huge expectations from Nigerians about the way government business is conducted.

To address these expectations, the House of Representatives will implement a legislative agenda that will position the House to deliver legislation in aid of development and reforms aimed at improving conditions of living in Nigeria.

This agenda outlines steps and prioritises legislative actions required to achieve set goals and objectives.

This Legislative agenda takes lessons from the experiences of the 7th Assembly and seeks to consolidate the gains and achievements thereof.

The House recognizes that there remains widespread citizens’ distrust of public institutions and government generally. It is also recognized that there is a lot of public misconception and misperception about the function and contributions of the legislature to Nigeria’s overall socio-economic and political development. Yet, our contributions to Nigeria’s democracy remain critical and important.

The 8th House of Representatives will assert its role in providing leadership in the areas of accountable and transparent government, citizens’ engagement as well as constituency representation. The House of Representatives will collaborate with the different arms of government and particularly its counterpart in the Senate to legislate for the common good of the Nigerian people. Our legislative activities will cover critical spheres of life in Nigeria. The House will legislate to achieve reforms in Nigeria’s national economy and development, tackle poverty, unemployment, confront the scourge of corruption, terrorism and security challenges in the country.

The House will also give prior-

ity to green legislations to address environmental challenges such as desertification, erosion and pollution. The 8th House of Representatives will also work assiduously to improve the governance process in Nigeria by legislating to cut the cost of running government, reduce wastages and tackle National Revenue leakages. The House commits to playing its part in rescuing Nigeria from the clutches of hunger, poverty, disease, social, economic, political and infrastructural quagmire. Our legislative intention is to build public confidence and trust.

We shall be responsive to citizens’ questions regarding the conduct of legislative business. The House as the people’s parliament will take legislative action that enhances citizens’ trust in our ability to stand up for their good. The House will work as the institution that defends the rights of the people to a proper accountable and transparent government in Nigeria. The House’s relationship with Civil Society Organisations (CSOs) will be that of partnership and collaboration to deliver on citizens’ expectations of the legislature. The 8th House of Representatives will be sensitive to public demands for transparency and accountability not just by the House of Representatives but also by government at all levels”.

How then would the Assembly’s leadership bring to play the major principles contained in the document?

Already the general principles underlying the document are to build a House of Representatives with integrity and capacity to effectively and efficiently deliver on its constitutional and legislative mandate.

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28 Law | Interview

MONDAY, august 31, 2015 NEW TELEGRAPH

‘Why legislative agenda’ll produce effective law making’ which aspects of the Appropriation Act it implements and will enforce a Needs Based Budgeting System rather than an ‘envelop’ Based Budgeting System. The 8th House will also ensure the coming into being of an independent effective, nonpartisan Budget Office (NABRO) by law to aid in economic and budgetary information and planning”

C O N T I N U E D F R O M PA G E 2 7

Besides, the principle mandates it to operate a House of Representatives that responds to citizens’ demands for greater transparency and accountability in the way legislative business is conducted.in other words, it must develop and implement an effective communication system for the House of Representatives in both its internal and external communications; establish an e-parliament that emphasizes use of IT and digitization in legislative business; identify priority legislation for the country and ensure passage within a defined time frame and give priority to work and collaboration with constituents, civic groups, professional bodies, international development partners and various stakeholders.

What does the document say about how the Assembly must run its affairs devoid of party’s intervention?

A glance at the document indicates that: The House shall determine and document the resources the National Assembly needs to run its legislative activities.

In the words of the document, “A proper needs assessment should conduct a comparative study of the cost of running legislatures in other jurisdictions. Furthermore, it should address the following questions: What does it cost the House of Representatives to air live its public hearings? What does it cost the National Assembly to conduct proper oversight on the Executive? What does it cost the National Assembly to maintain Constituency Relations? What does it cost to equip the offices of members both in their Constituencies and at Abuja?

What does it cost to maintain the four agencies of the National Assembly such as National Institute for Legislative Studies, National Assembly Service Commission, the National Assembly Bureaucracy, Public Complaints Commission etc. What does it cost to pay the legislative aides of members? What does it cost to hire other technocrats and consultants to assist members, the House and the Bureaucracy? What does it cost to transport members from one point to the other for official activities, locally and internationally? What does it cost to continue to build the capacity of members, locally and internationally? What does it cost to service the Standing Committees, Special Committees and Ad-Hoc Committees of the National Assembly”?

Also, on Internal operations/processes, the document states: “The 8th House of Representatives will work to improve its internal operations and processes with the aim of enhancing legislative business”.

With respect to e-parliament: e-voting, digitization and archiving, the document states: “The 8th House commits to the use of ICT in the daily conduct of legislative activities of the House. E-parliament and e-voting platforms will be made a regular feature of the House. E-voting will be used regularly during voting to properly reflect voting records and pattern of the House. The House shall collaborate with relevant stakeholders to achieve the goal of an e-Parliament.

The e-parliament initiative will operate on the platform of modern, up to date digital technology. Internet and intranet

Shittu

access supported by computerized legislative information management system will be put in place. Further, we commit to establishing and equipping a Parliamentary Information Centre where information and documents of the National Assembly will be made available”.

On the essence of National Assembly Communication, the document provides: The House of Representatives commits to improving its internal and external communications. Identified communication targets include internal house communications, communication with the Senate, communication with the executive arm of government and communications with the public.

Improved communication will change the negative perception of the House by the public, a lot of which arises from a poor understanding of the workings of the National Assembly.

What does the document say on national budgetary process?

The Budgetary process has remained one of the major challenges of our democracy since 1999. Legislative measures will be introduced to support and implement a proper budgetary process and creation of a strong and robust national economy. The budgetary process will emphasize the following: • Prioritisation of budget expenditure that reflects approved budget lines • Implementation of capital projects approved in budgets.

• Adoption of an effective MediumTerm Expenditure Framework (MTEF).

The House will promote an inclusive budgetary process and seek cooperation with the executive and in this respect pre-budget interface will be pursued.

• Effective monitoring of spending and of outcomes achieved – value for money.

• Compliance with the provisions of the Fiscal Responsibility Act (FRA) 2007.

In most cases, Appropriation Bill is often delayed, thereby leaving very little time for the National Assembly to do thorough work. What would the National Assembly do in this regard?

It is necessary that the House should revisit the Constitution Amendment passed in the 7th Assembly mandating the President to submit his Budget proposals at least three months before the end of a fiscal year, instead of “at any time” before the end of a fiscal year currently in the Constitution. This is critical in passing annual appropriations on time. The House will ensure proper functioning and operation of the Fiscal Responsibility Act, including a possible review of the Act, to streamline budgetary processes and achieve strict adherence to timelines for budget presentation and passage.

The House commits to giving the National Assembly powers to limit the time a programme would run except it is re-approved by the National Assembly.

This will enable the MDAs to be careful and accountable, as they may have to come before the National Assembly periodically for renewal of implementation mandate. We shall further commit to amending Section 82 of the Constitution to reduce the period of 6 months that the President is allowed to spend without appropriation as this provision severely distorts the Appropriation process.

The Report of Committees over-sight must be a sine qua non for the passage of their budgets. The Committees are significant focal points of legislative oversight and must assert the “Power of the Purse”.

The 8th House of Representatives will take legislative measures to ensure that the executive does not choose

What assurance did the document give on economy and development?

The document assures that: The 8th House of Representatives will put in place legislative measures to promote rapid economic growth and development. Towards this end, the parliament would prevent: Non-Remittance of Internally Generated Revenue and block Leakages in Several Departments and Agencies of Government.

It will also ensure ‘efficient Management of External Reserves’ and track the use of donor funds, grants and loans for developmental projects’.

The document also hopes to deploy legislative measures to cover ‘Infrastructure’ ‘Development and Legislative Initiative on New Cities’ and ‘Regional Hubs of Development’ including ‘Legislative Initiative on Employment and Job Creation’ and ‘Legislative Initiative on North-East and Niger-Delta’ respectively. It will also cover ‘Legislative Initiative on Housing’, ‘Urban Development’, ‘Mortgages’, on ‘Legislative Initiative’ on ‘Power’, ‘Legislative Initiative’ on ‘Security’, ‘Legislative Initiative on Economic Diversification’, ‘Priority Legislation’ and ‘Sectoral Debates’, ‘Review of the Laws of the Federation’, ‘Anti-Corruption’, ‘Constitution Reform Process’, ‘Harmonisation of National Identity Data Management System’, ‘Reduction of Cost of Governance’, ‘Executive-Legislative Relationship’ and ‘Implementation’.

The Priority Legislation shall address: ‘ Green Legislation’, ‘Climate Concerns’, ‘Desertification’, ‘Erosion’, ‘National Concern’, ‘Poverty’, ‘Agriculture’, ‘Health’, ‘Gender Issues’, ‘Security’, ‘Unemployment’, ‘Water Access and ‘Sanitation ‘, Including ‘Sectoral Debates’.

The Parliament shall also embark on ‘Review of the Laws of the Federation’ including tackling ‘anti-corruption’, ‘Constitution Reform Process’ and the ‘Harmonization of National Identity Data Management.’

The Parliament shall also be concerned with ‘Reduction of ’Cost of Governance’ and ‘Executive-Legislature Relations’. The agenda also specifies the mechanism for ‘Implementation’ with significant concluding remarks.

Any word for the Senate?

No doubt the legislative agenda is a laudable initiative providing a blueprint on how the 8th Assembly particularly the House of Representatives intends to actualize its constitutional mandate of lawmaking, representation and oversight responsibilities.

The Senate is advised to also take a clue from the House of Representatives in this direction. However for the document to be implementable, the Parliamentarians must have the right attitude and be prepared to enlist the democratic culture and tradition, meaning that they must be prepared to be democrats guided by the fundamentals of the democratic tradition.

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Rewane: Cabinet appointments’ll worsen naira volatility

Sterling Bank shakes off regulatory headwinds

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PTA suggested insurance for Unity Schools, says ministry

Business What's news

Projected $10bn ICT investment threatened The $10 billion investment expected to come into Nigeria’s Information and Communication Technology (ICT) industry towards building next-generation national broadband infrastructure is being threatened.

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Nigeria, others cut fish imports from Europe European exporters of mackerel and herring fish are battling with low exports as Nigeria and five other countries reduce imports of the commodity.

L-R: Managing Partner, Redmediaafrica, Mr. Chude Jideonwo; Publisher, Tw magazine, Adesuwa Onyenokwe; Executive Director, Sterling Bank Plc, Mr. Abubakar Suleiman and Executive Director, Field of Skills and Dreams VTE Academy, Omowale Ogunrinde, during a press conference on the lender's "get ready for work" initiative for youths in Lagos, last Thursday.

Refineries: N1.12bn monthly subsidy to persist he Federal Government will spend an average of N1.124 billion monthly (N570.8 million daily) as subsidy for Premium Motor Spirit (PMS) also known as petrol, even when the four refineries in Nigeria run on full steam, New Telegraph has learnt.

Checks by our correspondent revealed at the weekend that the

subsidy is to be paid on 20 million litres shortfall from PMS production at the refineries in Port Harcourt, Warri and Kaduna by the time they start their full capacity production.

A document from the Nigerian National Petroleum Corporation (NNPC), owner of the refineries, showed that the installations could only produce 20 million litres of fuel even when they operate at full capacity.

"The consumption and internal refining capacity of Premium Motor Spirit (PMS) stand at ratio 2 to 1. While the daily consumption is 40 million litres, the total capacity of refineries is 20 million litres," the document stated in part.

With the $47 per barrel average price of crude at the weekend, the Petroleum Products Pricing

INFLATION RATE July 2015 ..................................9.2% June 2015.................................9.2% May 2015.................................9%

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

DILLEMMA

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Daily augmentation of 20 million litres of fuel shortfall to continue

The Business Desk Ayodele Aminu

Deputy Editor (Business)

Bayo Akomolafe

Asst. Editor (Maritime)

Sunday Ojeme

Asst. Editor (Insurance)

Tony Chukwunyem

Asst. Editor (Money Market)

Dayo Ayeyemi Property Editor

Adeola Yusuf Energy Editor

Wole Shadare Aviation Editor

Chris Ugwu

Capital Market Editor

Abdulwahab Isa

Adeola Yusuf

T

Finance Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

Regulating Agency (PPPRA) puts the Expected Open Market Price (OMP), which is landing cost plus margins at N115.54 on its pricing template last updated on September 3, 2015.

Consequently, the subsidy on a litre of PMS is N28.54, translates to N570.8 million on 20 million litres if the prices of crude remain as low as $50 per barrel.

President Mohammadu Buhari had ruled out the removal of subsidy.

N570.8 million Daily subsidy payments the Federal Government would make for petrol when the four refineries in the country run on full steam

Data from the Pipelines and Products Marketing Company (PPPMC) had put the country's total fuel consumption at 40 million litres daily.

Group Managing Director of NNPC, Dr. Ibe Kachikwu, at the end of his facility visits to the refineries, confirmed that the 20 million total capacity fuel production could only be met when the 37-year old Warri Refining and Petrochemical Company (WRPC) meets up with the 90 days ultimatum, which he gave the facility to produce at full capacity.

Acting Managing Director of WRPC, Solomon Ladenegan, said that measures had been put in place to ensure that the plant is back in full operation by early November in good time for the CONTINUED ON PAGE 30

Rates Dashboard EXCHANGE RATE (BDC as at Sept 4)

USD . . . . . . . . . . . . . . . . . . . . . . N225 Pounds . . . . . . . . . . . . . . . . . . . N338 Euro . . . . . . . . . . . . . . . . . . . . . . N245

l Foreign Reserves – $31.252bn as at 03/09/2015

Source: CBN

EXCHANGE RATE (Interbank as at Sept 4)

USD . . . . . . . . . . . . . . . . . . . . . . N199 Pounds . . . . . . . . . . . . . . . N307.65 Euro . . . . . . . . . . . . . . . . . . N223.50

30

Business | News

MONDAY, September 7, 2015 NEW TELEGRAPH

Projected $10bn ICT investment threatened BARRIERS Telecoms operators continue to face challenges Kunle Azeez

T

he $10 billion investment expected to come into Nigeria’s Information and Communication Technology (ICT) industry towards building next-generation national broadband infrastructure is being threatened.

New Telegraph learnt

N1.12bn monthly subsidy to persist

As experts rate 10% penetration low

that despite the frantic efforts to boost broadband penetration in the country, telecoms companies are still facing some challenges, which are impeding investment in broadband.

KPMG, the consultants to the Nigerian Communications Commission (NCC) on broadband development, had, last year, stated that Nigeria would require $2 billion annually over the next five years, beginning from 2014, to build a “robust national broadband network.”

This investment is expected to be sourced locally and through Foreign Direct Investment (FDI).

With such investment, industry analysts say telecoms companies would be well positioned to take their idle, but live, fibre optic infrastructure

across the country.

While 30 per cent broadband penetration has been projected for the next four years, only onethird of the auspicious target has been achieved.

Already, telecoms experts and key stakeholders in the industry, speaking at a broadband investment forum orgainised by Nigeria ICT Reporters’ Association in collaboration with MTN Nigeria and Samsung, have decried the challenges impeding broadband investment in the country.

“Over one terabyte of Internet bandwidth brought about by some international fibre cables is currently Nigeria with only 10 per cent capacity utilisation,” said President, Association of Telecoms Companies of Nigeria, Mr. Lanre Ajayi.

He said that both existing and potential investors were not happy and there is a need to drive adoption and boost demand for broadband services.

“Investors are lamenting that there is no demand because efforts to engage in last-mile fibre connectivity has been greeted with many challenges, ranging from slow pace of Right of Way (RoW) approval by government and its agencies, vandalism, multiple taxations and theft of telecoms equipment, among others.

Former President of ATCON, Dr. Emmanuel Ekuwen, said that there was urgent need for Nigeria to deepen ubiquitous broadband penetration to create digital opportunities that can address the myriad of socio-political

problems in the country.

“Not paying attention to our broadband revolution by addressing all the obstacles to investment inflows would lead us to be locked under digital imperialism. When we have broadband, we are in a better stead to create more jobs and address our unemployment quagmire.

“When people get jobs as a result of opportunity created by broadband, they are able to give back to the society, but if they don’t have anything to give back, they hit back and become nuisance to the society.

“So, broadband is to help you minimise crimes, address issues in the nation’s security, education and health sectors and sundry sectors,” Ekuwem, who was the chairman at the forum had said.

A top official of Nige-

ria Computer Society, Mr. Jide Awe, said the society was concerned about the ICT development, tasking the media on the need to increase awareness through their reportage on the challenges confronting broadband penetration in the country.

Secretary General of the Association of Licensed Telecoms Operators of Nigeria, Mr. Gbolahan Awonuga, said the 30 per cent broadband penetration being targeted by the country was far from being achieved in the next two years due to the various challenges confronting the operators.

“We have had cases where state authorities engaged in careless closure of cell sites. One was shut down in Anambra due to the issue around multiple taxation,” he said, stressing that the tax laws in Nigeria should be relaxed.

CONTINUED FROM PAGE 29

three months fast- track moratorium.

The Warri Refinery, which has been undergoing phased rehabilitation exercise, was shut penultimate week due to some technical hitches in one of its units.

Speaking at the end of facility tour of the refinery and the adjoining PPMC Jetty and Depot in Warri, Delta State, Kachikwu, according to a statement, had charged the management and staff of the company to ensure that the plant is streamed back to full active service within the projected period.

“The GMD noted that he is ready to provide the management of the facility necessary support to enable them meet the fasttrack target,” the statement signed by Group General Manager, Group Public Affairs of NNPC, Ohi Alegbe, read.

“So, whatever you need to do to get your refinery back on track, please do it now because this is the time. It’s a 90 days fasttrack programme and whatever you need me to do to make that happen, let me know,’’ the GMD said.

Dr. Kachikwu also enjoined the management of the plant to resuscitate the Petrochemicals plant, which was commissioned in March 1988.

On the state of PPMC storage facility, he promised to end the era where the company relies heavily on private depots to store a bulk of its petroleum products.

L-R: Managing Director, Microsoft Nigeria, Kabelo Makwane; Chief Executive Officer, MainOne, Funke Opeke; Business Development Executive, MDX-i Data Center & Cloud Services, Rob Lever and Small, Medium and Business Partners’ Director, Microsoft Nigeria, Oluwawemimo Adeniyi, afterthe MainOne/Microsoft Cloud press conference, in Lagos.

KEY MARKETS Nigeria and the Republic of Korea remain important markets

Bayo Akomolafe

E

uropean exporters of mackerel and herring fish are battling with low exports as Nigeria and five other countries reduce imports of the commodity.

The other countries that cut imports are China, Greenland, Germany, South Korea and Japan.

Norway, the major supplier of pelagic specie to Nigeria and China, exported only 47,543 tons of herring valued

Nigeria, others cut fish imports from Europe at $60,271,585 and 50,094 tons of mackerel worth $65,838,840 in the first three months of the year.

It was learnt that Greenland had, last April, announced that it was cutting mackerel quota for 2015 by 15 per cent to 85,000 tons.

It said that only 30,000 tons would be allowed by government to be ferried by registered vessels.

Miffed by China and Nigeria’s cut in imports, some countries in the European Union have also reduced their mackerel export quotas for

2015.

During the first quarter of 2015, Norway, a major exporter of the specie to Nigeria, recorded a decline in exports of small pelagic (mackerel and herring). The value of its exports fell by 31 per cent for herring and 17 per cent for mackerel.

The average export price per kilogramme for mackerel fell by 12 per cent.

China, Nigeria and the Republic of Korea are important markets for Norwegian mackerel. Nigeria dropped from the second top market in the first

quarter of 2014 to only the fifth in 2015.

Indeed, Norwegian mackerel exports to Nigeria dropped from 7,500 tons in the first quarter of 2014 to just half of that, while only 3,600 tons were imported into the country in the same period in 2015.

Nigeria’s imports of the species have been relatively unstable since 2013 as government reduced the import quotas dramatically from time to time.

In 2013, for instance, Nigeria reduced the quota and pelagic imports fell to 497,000 tons.

Business | Money

NEW TELEGRAPH MONDAY, September 7, 2015

Rewane: Cabinet appointments’ll worsen naira volatility

PRESSURE Ministers will boost spending

Tony Chukwunyem

A

lull in demand for forex is because of two principal reasons: No cabinets in states and federal – so (this) curbed spending.

Interest rates have been at their highest level in many years (leading to) naira liquidity tightening. Once a cabinet is in place and spending starts, the naira pressure will resume.”

He attributed the recent fall in demand for foreign exchange on the parallel market to the decision by President Buhari and several state governments not to form cabinets, thereby curbing spending. According to him, soaring interest rates, which have resulted

lthough it’s a move that inter national investors and financial analysts argue would help the economy, the expected appointment of a cabinet in the next few weeks by President Muhammadu Buhari will increase pressure on the naira, renowned economist and Chief Executive Officer of Financial Derivatives Company Limited, Mr. Bismarck Rewane, has said.

He stated this in a reported entitled: “Monthly Economic News and Views” issued by the firm at the weekend.

The expert said: “The

in naira liquidity tightening has also contributed to reducing the demand for forex.

The FDC boss said that the naira has been held artificially stable by administrative measures and supported by reduced leakages from oil and revenue management.

He, however, argued that despite the apex bank’s attempts to defend the naira, CBN would yield to market pressure and allow the local currency to adjust.

He predicted that “CBN will yield to market pressure; the governor has done his best, but markets usually win

and policy makers tend to buckle.”

Noting that the naira was now at N220 at the parallel market again and dropping, he added: “Monetary policy is back between a rock and a hard place.”

Rewane said that the CBN could adopt several measures to address the problem. These include allowing the currency to float and setting a buying range of parallel market minus N10; intervening with as many levers as the CBN can spare to ensure that the market rate is between (– and + 10 per cent) of the Purchasing Power Parity (PPP) currency

Interbank rates flat on ample naira cash

N

igeria's interbank lending rates held steady at 8.25 per cent on average, last week, on ample naira liquidity after the Central Bank of Nigeria (CBN) declined to borrow funds at higher yields through its Open Market Operations (OMO) bills from commercial lenders.

dog usually sells treasury bills in the secondary market to mop-up perceived excess liquidity from the banking system.

The secured Open Buy Back (OBB) remained unchanged at eight per cent, while overnight placement was also stable at the same level as last week,

"The market has been very liquid this week because the central bank refused to sell OMO bills," a dealer told Reuters.

The lenders' balance with the apex bank stood at N261 billion in credit last Friday, boosted by about N114 billion in matured treasury bills repaid last Thursday.

The banking watch-

8.5 per cent.

"We see rates inching up gradually by this week as the central bank moves to tighten liqu idity," another dealer said.

Dealers said the CBN may resort to debiting banks for cash reserve requirements (CRR) to cover for the last four week of arrears in its bid to reduce liquidity.

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

As at Mar, 2015 Mar, 2015 July, 2015 4/6/2015 Mar 2015 4/9/2015 3/9/2015

N19,142,526.05m N18,579,219.49m 9.2 13 10.77 US$50.72 US$31,252,857,673

FGN Bonds

TTM

Price 98.60 99.74 98.61 101.22 91.65 68.00 77.56

1.65 3.82 4.44 6.40 8.52 14.88 18.87

NIBOR

Tenor (Days) Call 30 90 180

Rate (%) 9.6250 15.2645 16.3719 18.1109

Bid Yield 16.06 16.07 15.98 16.07 16.03 15.58 15.93

Change (%) 0.38 ▲ -0.32▼ -0.24▼ 0.10 ▲

T Change (%) 0.25▲ 0.11▲ 0.11▲ 0.09▲ 0.16▲ 0.00 ↔ 0.07▲

Price 98.75 100.04 98.91 101.52 91.95 68.30 77.86

Tenor (Months)

Offer Yield 15.95 15.96 15.88 15.99 15.96 15.51 15.86

Change (%) 0.25▲ 0.11▲ 0.11▲ 0.09▲ 0.16▲ 0.00 ↔ 0.07▲

NITTY

1 2 3 6 9 12

Treasury Bills

Rate (%) 13.5677 13.9802 14.1815 15.6248 15.6933 16.1487

Change (%) -0.46 ▼ -0.50 ▼ -0.42 ▼ 0.16 ▲ 0.22 ▲ 0.06 ▲

Money Market

Maturity Date Discount Bid Yield Change (%) Discount Offer Yield Change (%) Rate (%) 10.88 11.18 0.13 ▲ Open-Buy-Back (OBB) 8.17 03-Dec-15 11.13 11.44 0.13 ▲ 03-Mar-16 14.28 14.03 15.08 0.00 ↔ Overnight (O/N) 8.75 15.37 0.00 ↔ 13.67 15.64 -0.01 ▼ 04-Aug-16 13.92 15.96 -0.01 ▼

Spot($/N)

Bid 198.18

FX

Offer 198.28

Change (%) 0.43▲

NIFEX

Spot($/N)

Bid 199.0000

Offer 199.1000

Change (%) 0.67▲ 0.50▲

Change (%) 0.00 ↔

CBN Clearing Rates of September 4, 2015 Spot($/N)

196.00

197.00

value - N189 (this will result in the exchange rate being at between N210 and N215 to the dollar and allowing the naira to adjust downwards by five per cent.

He listed other measures that the monetary authorities could adopt to include the reduction of the Cash Reserve Requirement (CRR) from 31 per cent to 20 per cent; leaving the Monetary Policy Rate (MPR) unchanged at 13 per cent and eliminating some of the administrative measures.

Giving his forecast for September, the FDC boss said that the naira will fall towards N230 to the dollar at the Bureaux De Change (BDC) segment of the forex market and at N240 at the electronic transfer market.

He also predicted that the MPC would leave the MPR unchanged, but reduce the CRR from 31 to 20 per cent.

Meanwhile, analysts at FBN Capital have predicted that the CBN would devalue the naira to N215 to the dollar by the end of the year. They also forecast that the MPC is likely to raise rates at its meeting later this month.

In a note made avail-

able to New Telegraph, the analysts said: “A third devaluation by year-end: We see another devaluation this year, with an end-year interbank rate of N215 per US dollar.

The CBN, doubtless, has more administrative measures to deploy, but will struggle to hold the line in our view in the face of tightening in the US, oil market weakness and pressure from the parallel market.”

Besides, the analysts said: “A policy rate hike is also on its way: In an attempt to hold the line and in response to headline inflation above the target range, we see a policy rate hike of 100bps from the MPC later this month.

The exchange rate is the largest input into inflation, and we forecast the headline rate at 10.5 per cent at end-2016.”

They, however, noted that fiscal policy offers the best hope for its positive macro impact. “Some steps on leakages have been taken, although we must wait for the 2016 budget process to see whether a sizeable reduction in waste, more productive spending and a bolder borrowing strategy are to be delivered,” the analysts stated.

DMO to issue N70bn bonds

Source:CBN

Description 15.10 27-APR-2017 16.00 29-JUN-2019 15.54 13-FEB-2020 16.39 27-JAN-2022 14.20 14-MAR-2024 10.00 23-JUL-2030 12.1493 18-JUL-2034

31

0.00 ↔ Source: FMDQ

he Debt Management Office (DMO) has announced that it would issue Federal Government of Nigeria (FGN)'s bonds worth N70 billion with maturities of five years and 20 years on September 16.

Besides, the debt office said it would raise N40 billion in the debt maturing in February 2020 and N30 billion in the note maturing in July 2034.

All the bonds according to Reuters, are reopening of previously issued paper, while the results of the auction are expected the following day.

Meanwhile, the Central Bank of Nigeria (CBN) has announced that the Federal Government plans to borrow N814.78 billion in Treasury Bills between September 17 and December 3.

The apex bank said that it would auction N215.14 billion worth of the threemonth paper, N193.64 billion in the six-month debt and N406 billion worth of one-year paper.

The total debt proposed for the fourth quarter is 6.66 per cent short of the

872.96 billion raised in the second quarter of the year, the data released by the bank showed.

The announcement came just as Reuters analysts' predicted yields on Nigerian Treasury Bills are expected to stay flat this week.

Nigerian local debt has been under pressure, thanks to falling global oil prices, a slowing economic outlook in Africa's biggest economy and a weak naira.

"The economic outlook remain hazy and many investors are moving their funds to other assets because of the uncertainty in the market," a dealer said.

A few days ago, Nigeria released its Gross Domestic Product (GDP) data, showing weak economic output growth and this have also triggered selloffs by some offshore investors.

Nigeria's economic growth slowed sharply in the second quarter with annual growth slipping to 2.35 per cent from 6.54 per cent a year earlier, the National Bureau of Statistics (NBS) said.

32

Business | Stock Watch

Sterling Bank Plc has sustained its resilient performance despite the harsh operating milieu.

Chris Ugwu writes

MONDAY, September 7, 2015 NEW TELEGRAPH

Sterling Bank shakes off regulatory headwinds

T

he regulatory challenges in the banking industry have significantly impacted on the operating landscape of lender with some recording a dip in their bottomline. The cash reserve ratio hike forced most banks to revisit their portfolio and asset liability management strategies and in certain cases, led to the collapse of discount houses where exposures were significant.

Just like any other lenders in Nigeria, Sterling Bank Plc was not insulated from the challenges posed by the regulatory headwinds. Notwithstanding that 2014 was another challenging year for the banking industry, Sterling Bank was able to exploit the opportunities within the environment to give shareholders value both in the 2014 financial year and half year ended June 2015.

The loyalty of customers to the bank was upbeat as the second quarter of 2015 saw customer deposits rising to 2.7 per cent, one of the best among its peers in the industry.

Investors’ confidence was seen to be reengineered on the back of significant quarterly results released to the investment community and hope that the bank’s commitment to Agric finance would help the management reinforce its statutory business to unlock better potentials.

Market pundits believe the bank’s strategic plan would reposition the institution and shore up confidence of investors on its stocks.

They believe that in spite of decline in overall market indices, market sentiment for the shares of the bank will be enhanced as bargain hunters will take position on the back the stellar financial performance of the lender.

Financials For the financial year ended December 2014, Sterling Bank sustained its resilient performance in top-line and bottom-line earnings. The lender recorded growth with gross earnings rising by 13 per cent to N103.7 billion. In the same breadth, profit before tax rose by 15.4 per cent to N10.7 billion.

Key extracts of the audited report and accounts showed appreciable growths in all key performance indices.

Major highlights showed that

Adeola

net interest income leapt by 20.1 per cent to N43.0 billion in 2014 as against N35.8 billion recorded in 2013. This was driven mainly by 11.4 per cent growth in interest income to N77.9 billion, which far outweighed the 2.2 per cent increase in funding costs to N34.9 billion. This underlined the increasing cost efficiency of the lender, as cost of funds had dropped from 6.1 per cent in 2013 to 5.3 per cent in 2014. Similarly, non-interest income grew by 18.3 per cent from N21.8 billion in 2013 to N25.7 billion in 2014. This was boosted by 82.2 per cent growth in net trading income to N6.8 billion.

The bank continued to strengthen its mid and bottomline performances, as its increasing focus on cost reduction, credit risks management and operating efficiency cushioned macro headwinds and retained values for shareholders.

Net operating income rode on the back of growth in net interest income and a 10.5 per cent reduction in impairment charges to N61.4 billion in 2014, an increase of 24.4 per cent on N49.3 billion recorded in 2013.

Meanwhile, operating expenses increased by 26.5 per cent to N50.6 billion in 2014 as against N40 billion in 2013. This was due mainly to on-going investments in branch refits, expansion and rollout of alternative channels as well as regulation-induced cost.

Share price movement of Sterling Bank 2014 Oct 31

N2.33

Nov 30

N2.36

Dec 31

N2.54

2015 Jan 31

N2.32

Feb 28

N2.38

Mar 31

N2.17

Apr 30

N2.29

May 30

N2.11

June 30

N2.00

July 24

N2.05

Aug 28

N2.13

Sept 4

N2.10

The bank’s performance further validates its resilience in the face of regulatory and other macroeconomic headwinds

Consequently, profit before tax inched up by 15.4 per cent to N10.7 billion, while profit after tax increased by 8.8 per cent to N9 billion. The net profit was impacted by 68.4 per cent increase in income tax expense.

Similarly, the lender recorded a 25 per cent increase in its profit after tax for the first quarter ended March 31st, 2015, demonstrating the its ability to sustain its growth in spite of industry headwinds.

The bank’s profit after tax leapt from N3.1 billion to N3.9 billion year-on-year. Also, pre-tax profit rose by 14.1 per cent from N3.5 billion to N4.0 billion, while non-interest income grew by 31.9 per cent from N6.1billon to N8.0 billion driven by a 51 per cent growth in fees and commission, which rose to N5 billion.

In the same breadth, net operating income inched up by 6.1 per cent from N15.3 billion to N16.2 billion on the back of a growth in non-interest income and a 10.4 per cent reduction in impairment charges.

Net loans and advances also increased by 5.7 per cent from N371.2 billion to N392.4.0 billion due to the lender’s “selective approach to asset creation.”

Besides, shareholders’ funds increased marginally by 4.3 per cent from N84.7 billion to N88.4 billion due to profit accretion, while total assets excluding contingent liabilities advanced by 2.1 per cent from N824.5billion to N841.9 billion.

Sterling Bank also maintained its stellar performance in half year 2015, as top-line and bottomline earnings showed impressive growths.

Major highlights of the account showed that gross earnings rose by 12 per cent to N55 billion.

This was driven by a 32.2 per cent increase in non-interest income to N15.2 billion from N11.4 billion reported in the corresponding period of 2014. Correspondingly, profit after tax rose by 6.9 per cent to N5.4 billion during the period under review from N5.1 billion recorded a year earlier.

Operating expenses was relatively flat at N24.2 billion, leading to an improvement in cost –to-income ratio. The Bank’s balance sheet also came in stronger with shareholders’ funds increasing by 4.4 per cent to N88.4 billion as against N84.7 billion in 2014.Total assets (excluding contingent liabilities) increased by 1.2 per cent

to N834.0 billion compared with N824.5 billion in 2014.

Landmark initiatives Despite the fact that the lender ventured into agriculture finance few years ago, it has received a lot of accolades in the sector, where it currently ranks among the top three banks.

The presentation of the award as the Best Bank in Commercial Agriculture Credit Scheme (CACS) to the Bank in 2014 by the former President Goodluck Jonathan was a testimony of its soaring pedigree in the business of agriculture finance in the country.

Sterling Bank has continually restated its commitment to the strategic growth of the Agricultural Sector by providing adequate funding in alignment with the on-going reforms in the sector aimed at repositioning it as an attractive business proposition, an input provider for the manufacturing sector and a key foreign exchange earner.

A firm believer in the Agricultural Transformation Agenda of the federal government, Sterling Bank has been in the forefront of the Growth Enhancement Scheme (GES) scheme since inception and has been actively involved in financing Agro dealers under the scheme to ensure that it plays its role as a reputable financial institution determined to make a mark in all sectors of the economy especially agriculture.

In fulfillment of its commitment to raise the bar in education financing and support government efforts at repositioning the education sector, Sterling Bank has rolled out various offerings that would make going back to school in September a lot easier for all stakeholders in the value chain.

The offering include special gifts for children with the Bank’s I Can Save Account; school fees finance for parents, special training programmes and household equipment finance scheme for teachers; school finance as well as sponsorship of events organized by them.

Looking ahead Managing Director of the Bank, Mr. Yemi Adeola, said that the bank’s performance further validates its resilience in the face of regulatory and other macroeconomic headwinds.

NEW TELEGRAPH MONDAY, September 7, 2015

33

Insurance CONTROVERSY Some parents had protested against introduction of the insurance policy Stories by Sunday Ojeme

T

he controversy surrounding the provision of insurance cover for students of Unity Schools across the country has been finally laid to rest.

The Federal Ministry of Education has confirmed that the initiative was that of the Parents Teachers Association (PTA).

Acting Permanent Secretary, Federal Ministry of Education, Hajia Hindatu Abdullahi, said that the introduction of insurance premium was for the benefit of students and their sponsors.

She also said that it was informed by recent attacks in some schools and the current security situation in the country, adding that the PTA made the suggestion, which was accepted by the ministry after due consideration.

Concerned with students’ welfare and continuity of their studies nation-wide, NICON Insurance Limited was given the go ahead by the Federal Ministry of Education to package the Students Welfare Insurance Scheme.

The scheme, which is aimed at bringing succour

T

PTA suggested insurance for Unity Schools, says ministry to students that may lose their parents or sponsors either through accident or by natural means, was packaged for students of the 104 Unity Schools throughout the country.

The Students Welfare Insurance Scheme for Unity Schools is a combination of Group Personal Accident and Group Life Assurance Schemes.

In the case of accidental death of a student, the sponsor named in the policy would be entitled to N500,000.

In the event of the death of the sponsor or guardian of a student, the pupil would be entitled to the payment of school fees up to the year of graduation from secondary school up to a maximum

of N500,000 per annum.

In case a pupil accidentally sustains permanent disability, he/she will be entitled to N500,000 as compensation. For accidental medical expenses, a pupil would be entitled to N50,000 for medical treatment.

If a student is involved in accidental death, the company would pay

N50,000 for burial expenses.

Abdullahi said that the PTA initiated the insurance scheme after the incident at the Federal Government College, Buni Yadi, Yobe State, where insurgents killed over 43 students.

She said that the Buni Yadi incident and the subsequent attacks in other

schools raised concerns that made stakeholders to suggest insuring students.

She said: “When we send our children abroad to study, we pay insurance to take care of any unforeseen; why is ours looking different?

“The PTA brought in Capital Insurance and we discovered it does not have wider coverage in the country; so we decided to use NICON Insurance, which has a wider coverage.

“Is there any harm in insuring your child? PTA brought the idea and the ministry adopted and gave direction on how to go about it,’’ she said.

US resident sues insurer over mother's death in Nigeria

T L-R: Deputy General Manager/Head, Risk Management and Compliance, Sovereign Trust Insurance (STI) Plc, Sanni Oladimeji; Executive Director/Chief Operating Officer, Samuel Ogbodu; member, Chartered Institute of Taxation of Nigeria, Dr. Olateju Abiola Somorin; GM/ Head, Finance and Administration Division, STI, Kayode Adigun and Council Member, Chartered Institute of Taxation of Nigeria, Mr. Otitoloju Ayodele Oluyomi, during a courtesy visit to STI.

he National Pension Commission (PenCom) has created a multi-billion naira business for insurance companies through new guidelines on mortgage.

According to the draft guidelines on Withdrawals from Retirement Savings Account (RSA) Towards Equity Contribution for Payment of Residential Mortgage, PenCom said that properties to be acquired by RSA holders shall have comprehensive insurance policy and carry professional indemnity insurance with an insurance company licensed by the National Insurance Commission (NAICOM).

This is expected to generate stable businesses for underwriters whose covers are backed by law.

The draft stated: "An eligible RSA holder shall use the proceeds of the mortgage loan to purchase either a single-family home or an apartment in a multi-unit building, which must be owner-occupied.

"The property shall have comprehensive insurance

Insurance mandatory for mortgage, says PenCom policy in the name of the borrower, to cover the replacement or reinstatement cost of the property. The insurance policy must note the RSA fund as one of the first loss payees, to cover the equity contribution released by the PFA. "The valuation of the property to be purchased with the mortgage loan shall be carried out by a licensed, independent valuer, who is a member in good standing with the Nigerian Institution of Estate Surveyors & Valuers (NIESV) and must carry professional indemnity insurance with an insurance company licensed and in good standing with National Insurance Commission (NAICOM)," the draft said.

Meanwhile, PenCom has advised retirees to forestall the quest of withdrawing huge fund from their Retire-

ment Benefits Account balance so that they can have robust monthly pension.

The Head, Research & Corporate Strategy PenCom, Farouk Aminu, said this at the 2015 National Association of Insurance and Pension Correspondents Annual General Meeting (AGM) in Lagos.

He noted that many retirees had burnt their fingers with such decisions, adding that the quest to withdraw fabulous amounts at retirement, leaving little in the account is responsible for the little monthly pension some retirees receive.

He called on retirees to take less lump-sum payout if they don’t have need for much financial needs, stressing that less lump sum will help them keep more money in their accounts.

Aminu said: "People should take less lump sum

unless they need it. If they do not need it, they should not take it. It is important people really understand this. The more lump sum you take, the less money you leave in your RSA and the lower your pension.

"People take much of their money and blow it and expect the little they left to perform wonders. People should leave a lot of money behind so that they can have huge pension.”

He noted that the NAICOM, Nigeria Stock Exchange (NSE) and the Trade Union Congress (TUC) have been added to the board of the PenCom, which before now, had the Nigeria Labour Congress (NLC), Securities and Exchange Commission (SEC), Central Bank of Nigeria (CBN), Nigeria Union of Pensioners; the private sector and Federal Government.

exas resident, Eseoghene Ogbu-Sifo, has filed a federal lawsuit, claiming Travelex Insurance Services, Inc. should cover his mother’s 2013 death as a result of a motor vehicle accident in Nigeria.

Setexasrecord said that Ogbu-Sifo’s suit, filed in the Houston Division of the Southern District of Texas, accuses Travelex of engaging “in deceptive practices for the sole purpose of avoiding payment of the plaintiff’s bona fide claim.”

Court documents show that Ogbu-Sifo purchased the policy in question for his mother, Abiwaye Sifo, in 2013 at the same time he bought her a roundtrip ticket from Houston to Lagos, Nigeria, through CheapOair’s Web site. He subsequently bought a ticket to Lagos for himself in addition to the same policy.

According to the suit, Sifo sustained critical injuries from a collision with an 18-wheeler during her scheduled trip on December 16, 2013.

Ogbu-Sifo says he immediately notified Travelex in an attempt to quickly examine the terms of his travel insurance policy and transport his mother back to the United States to receive medical care.

Travelex, however, allegedly delayed these requests and denied the complainant’s claim on grounds Sifo’s transport was not covered by the policy.

34

Business | Insurance

SYNERGY The pact conforms to IAIS principles Stories by Sunday Ojeme

T

o ensure effective supervision of insurance business across borders, the National Insurance Commission (NAICOM) has signed a Memorandum of Understanding (MoU) with the supervisory bodies of four other countries within the region.

The countries, according to a statement from the commission, are the National Insurance Commission, Ghana; Central Bank of Liberia, Sierra-Leon Insurance Commission, the Central Bank of Gambia and NAICOM. The Commissioner for Insurance, NAICOM, Mr Mohammed Kari, while signing the agreement, said that the initiative would strengthen insurance supervision through information sharing and mutual cooperation.

He said that the new order was in conformity with the International Association of Insurance Supervision (IAIS) principles, adding that the MoU underlines NAICOM’s goal to build effective working relationships with regulators in the West African region and beyond.

He said that the collaboration would greatly enhance the cross-border supervision among the member countries.

Kari said: “Insurance in the whole of Africa has been characterised by low penetration and poor contribution to

NAICOM strengthens partnership with Ghana, others the African financial growth in most countries. Therefore, maintaining efficient, fair, safe and stable insurance market in the West African region must be promoted for the benefit of the policy holders.

“The MoU will help us to effectively communicate with each other in addressing such fraud across jurisdictions in compliance with Financial Action Task Force recommendation on Anti-Money Laundering. We look forward to our mutual assistance in the promotion of international standards to foster favourable investment environment and orderly markets in West Africa.”

The Permanent Secretary, Federal Ministry of Finance, Mrs Anastasia Daniel-Nwaobia, emphasised the need for continued collaboration to achieve more stable international economic and financial system.

While commending the initiative, she said it was heartening to see that the West African Insurance Regulators have recognised the need to come together to examine possible ways to collaborate and develop harmonised regulatory standards.

“The West African Insurance Supervisors Association is therefore vital, because of our rapidly integrating insurance industry and the growing practice of our insurance compa-

Mutual Benefits Assurance to divest

M

utual Benefits Assurance Plc plans to divest from some of its subsidiaries, the company’s Chairman, Akin Opeodu, has said.

He said this at the firm's annual general meeting (AGM) in Lagos.

Opeodu noted that the move is in line with the International Financial Reporting Standard (IFRS) requirements.

Thought he was not emphatic on the business the company wants to let go, he gave assurance to shareholders that the company wants to focus on area of core competence.

MONDAY, September 7, 2015 NEW TELEGRAPH

The firm subsidiaries presently include: Mutual Benefits Microfinance Bank Limited, which it had invested over N450 million; Mutual Benefits Assurance Company Liberia ($5 million); Mutual Benefits Assurance Plc; Mutual Benefits Life assurance Limited; Mutual Benefits Homes and Properties Limited (N3 billion) and Charks Investment Limited (N1.5 billion).

Others are Mutual Benefits Model Transport Limited (N2 billion); Assurance Generales du Cameroun ($2.1 million) and TFS Securities and investment Limited.

nies operating across regional and international boundaries,’’ she noted.

Daniel- Nwaobia, who was represented by the Director, Home Finance in the ministry, Mr Kalli Zaji, gave assurance to

the member countries of Nigeria’s support toward achieving the set objectives.

On her part, the Commissioner of Insurance, Ghana, Miss Lydia Bawa, said that the

member countries must all strive to ensure that the objectives set out in the collaboration were achieved.

“The timely provision of the information on the financial posi-

tion, compliance with the rules on solvency, risk concentration and intra-group transactions among other things, would facilitate groupwide supervision,” he said."

L-R: Non-Executive Director, UACN Property Development Company (UPDC) Plc, Mr. Kunle Awojobi; Finance Director, Mrs. Sade Ogunde; Managing Director, Mr. Hakeem Ogunniran and Chairman, Mr. Larry Ettah, at the company’s Annual General Meeting (AGM) in Lagos.

Nigeria to host World Pension Summit

F

ollowing the success recorded during the first edition of World Pension Summit, the National Pension Commission (PenCom) has rolled out plans to host the second edition next month.

Disclosing this in Lagos last Friday, the Director-General, PenCom, Mrs Chinelo AnohuAmazu, said that the event had been scheduled for October 5 and 6 in Abuja.

She said that the success recorded so far in the implementation of the Contributory Pension Scheme endeared PenCom to the WorldPensionSummit, The Netherlands, a global pension brand, to host the maiden edition of the summit last year to share ideas on pension administration in Africa.

She said: “The Summit was adjudged a great success as over 400 delegates from 23 countries, including 15 African countries attended the Summit.”

The PenCom boss said that this year’s Summit with the theme, “Building Sustainable Pension System in Africa,” would once more attract diverse experts from across the world in the areas of investment, infrastructure financing, real estate and other pensionrelated fields.

She said: “In line with the

theme of the Summit, we have painstakingly selected a number of sub-themes that we feel would resonate with all stakeholders in furthering the objective of enhancing pension administration in Africa.

“In order to build on the gains of the inaugural summit and showcase current developments in the areas of pension in Africa, a plenary tagged “Reform and Development in African Pension Systems (Regional Reports)” has been introduced as an initiative to feature high level reporting on the advancement of pension systems in Africa regions.

“Similarly, the plenary on “Global Developments in Pension Systems” would bring experts in the area of pension and investment to provide insights on global developments in pensions. It is expected that such expose would provide milestones, against, which Africa, as a continent, can benchmark its performance in the area of pension.”

The director-general lamented that Africa currently faced huge infrastructure challenges and that pension funds, as long-term capital, were ideally suited for investment in infrastructure.

She said infrastructure financing was still a major

challenge for most African countries despite the availability of huge aggregate of pension funds.

She noted: “The plenaries on, “The Real Deal: Structuring Pension Investmengts for Sustainability” and Expanding Investment Frontiers for Pension Funds” both aim to address the issue of sustainability in the investment of pension funds and the frameworks that need to be developed to achieve wider scope for investment of pension funds.”

She also recalled that not much has been achieved in Africa in the area of micropension plans, stressing that it was therefore appropriate to focus attention on the huge opportunities that exist in this area to encourage African countries take bold steps and come up with suitable and innovative pension plans for informally employed individuals.

Anohu-Amazu said, the October Summit will harness African talents in pensions and also provide a platform for pension regulators and operators in Africa to brace up to the challenge of positively contributing to the socio-economic growth of the continent, while also ensuring that retirement benefits are paid as and when due.

Business | Financial Market News

NEW TELEGRAPH MONDAY, September 7, 2015

FMDQ Daily Quotations List

35

4-Sep-15

The DQL contains data relating to, amongst other things, market and model prices, rates of foreign exchange products, fixed income securities and instruments in the financial market (the “Information”). The Information does not constitute professional, financial or investment advice. We attempt to ensure the Information is accurate; however, the Information is provided “AS IS” and on an “AS AVAILABLE” basis and may not be accurate or up to date. We do not guarantee the accuracy, timeliness, completeness, performance or fitness for a particular purpose of any of the Information, neither do we accept liability for the results of any action taken on the basis of the Information.

Bonds FGN Bonds

Price

Rating/Agency

Issuer

NA

NA

Description 13.05 16-AUG-2016 ^15.10 27-APR-2017 9.85 27-JUL-2017 9.35 31-AUG-2017 10.70 30-MAY-2018 ^16.00 29-JUN-2019 7.00 23-OCT-2019 ^15.54 13-FEB-2020 ^16.39 27-JAN-2022 ^14.20 14-MAR-2024 15.00 28-NOV-2028 12.49 22-MAY-2029 8.50 20-NOV-2029 ^10.00 23-JUL-2030 ^12.1493 18-JUL-2034

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

TTM (Yrs)

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

16-Aug-13 27-Apr-12 27-Jul-07 31-Aug-07 30-May-08 29-Jun-12 23-Oct-09 13-Feb-15 27-Jan-12 14-Mar-14 28-Nov-08 22-May-09 20-Nov-09 23-Jul-10 18-Jul-14

13.05 15.10 9.85 9.35 10.70 16.00 7.00 15.54 16.39 14.20 15.00 12.49 8.50 10.00 12.1493

581.39 480.13 20.00 100.00 300.00 351.30 233.90 311.93 605.31 599.99 75.00 150.00 200.00 591.57 370.50

16-Aug-16 27-Apr-17 27-Jul-17 31-Aug-17 30-May-18 29-Jun-19 23-Oct-19 13-Feb-20 27-Jan-22 14-Mar-24 28-Nov-28 22-May-29 20-Nov-29 23-Jul-30 18-Jul-34

0.95 1.65 1.89 1.99 2.74 3.82 4.13 4.44 6.40 8.52 13.23 13.71 14.21 14.88 18.87

15.52 16.06 16.08 16.10 16.09 16.07 16.03 15.98 16.07 16.03 15.27 15.18 15.09 15.58 15.93

15.34 15.95 15.98 16.00 16.02 15.96 15.91 15.88 15.99 15.96 15.22 15.12 15.01 15.51 15.86

97.88 98.60 90.14 88.88 88.37 99.74 73.41 98.61 101.22 91.65 98.42 84.60 61.82 68.00 77.56

98.03 98.75 90.29 89.03 88.52 100.04 73.71 98.91 101.52 91.95 98.72 84.90 62.12 68.30 77.86

TOTAL OUTSTANDING VALUE

4,971.02

TOTAL MARKET CAPITALISATION

4,433.43

Rating/Agency

Issuer

Description

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Modelled Price

03-Apr-12 09-Dec-11 20-Apr-12 06-Jul-12

17.25 0.00/16.00 0.00/16.50 0.00/16.50

2.10 112.22 116.70 66.49

03-Apr-17 08-Dec-16 19-Apr-17 06-Jul-17

0.83 1.26 1.62 1.84

2.94 1.00 2.66 1.00

18.42 16.77 18.67 17.06

99.12 99.08 103.23 101.76

Agency Bonds FMBN ***LCRM

17.25 FMB II 03-APR-2017 0.00/16.00 LCRM 08-DEC-2016 0.00/16.50 LCRM II 19-APR-2017 0.00/16.50 LCRM III 06-JUL-2017

TOTAL OUTSTANDING VALUE

297.52

TOTAL MARKET CAPITALISATION

301.41

Sub-National Bonds A-/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

2.16

30-Sep-15

0.07

3.23

17.26

99.66

BBB+/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

2.60

30-Jun-16

0.57

4.46

19.86

96.93

A/Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

3.96

30-Jun-16

0.58

3.48

18.88

98.16

A+/Agusto; ‡ /GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

1.62

1.00

17.01

90.37

‡ /Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

21.24

30-Jun-17

1.11

1.00

16.63

97.17

A-/Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

2.32

1.79

17.89

92.80

‡ /Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

30.81

30-Sep-18

1.71

1.00

17.03

95.82

A-/Agusto; A-/GCR

NIGER

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

9.00

04-Oct-18

1.72

1.00

17.03

95.77

‡ /Agusto; A-/GCR†

*EKITI

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

12.40

09-Dec-18

1.90

1.00

17.08

96.03

A-/Agusto

*NIGER

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

9.21

12-Dec-18

1.91

4.78

20.86

90.01

A-/Agusto; A-/GCR

*ONDO

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

24.44

14-Feb-19

2.09

1.00

17.10

97.34

BBB+/Agusto; A-/GCR Aa-/Agusto; ‡ /GCR

*GOMBE LAGOS

15.50 GOMBE 02-OCT-2019 14.50 LAGOS 22-NOV-2019

BBB-/Agusto; BBB+/GCR

*OSUN

14.75 OSUN 12-DEC-2019

02-Oct-12 22-Nov-12 12-Dec-12

15.50 14.50 14.75

15.09 80.00 24.74

02-Oct-19 22-Nov-19 12-Dec-19

2.32 4.22 2.39

2.02 1.00 1.00

18.12 17.02 17.10

95.38 92.56 95.69

BBB-/Agusto

*OSUN

14.75 OSUN II 10-OCT-2020

10-Oct-13

14.75

10.46

10-Oct-20

2.93

1.82

17.91

93.27

Aa-/Agusto; ‡ /GCR

LAGOS

13.50 LAGOS 27-NOV-2020

27-Nov-13

13.50

87.50

27-Nov-20

5.23

1.00

17.02

88.05

A-/Agusto; BBB+/DataPro

KOGI

15.00 KOGI 31-DEC-2020

31-Dec-13

15.00

5.00

31-Dec-20

5.32

1.00

17.03

93.02

‡ /Agusto A-/GCR

*EKITI *NASARAWA

14.50 EKITI II 31-DEC-2020 15.00 NASARAWA 06-JAN-2021

31-Dec-13

14.50

4.30

31-Dec-20

3.17

1.00

17.09

94.09

06-Jan-14

15.00

4.31

06-Jan-21

3.19

1.00

17.09

95.18

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

429.21 397.75

Corporate Bonds BBB-/Agusto

*FLOURMILLS

12.00 FLOURMILLS 9-DEC-2015

09-Dec-10

12.00

9.38

09-Dec-15

0.26

1.00

12.83

99.74

BB/GCR

*CHELLARAMS

14.00 CHELLARAMS 06-JAN-2016

06-Jan-11

14.00

0.22

06-Jan-16

0.34

2.63

15.62

99.37

A+/Agusto; A-/GCR

NAHCO

13.00 NAHCO 29-SEP-2016

29-Sep-11

13.00

15.00

29-Sep-16

1.07

1.00

16.59

96.58

A-/Agusto

FSDH

14.25 FSDH 25-OCT-2016

25-Oct-13

14.25

5.53

25-Oct-16

1.14

1.34

17.00

97.20

A/GCR

UBA

13.00 UBA 30-SEP-2017

30-Sep-10

13.00

20.00

30-Sep-17

2.07

1.00

17.10

93.06

BBB-/GCR

18.00 C&I LEASING 30-NOV-2017

30-Nov-12

18.00

0.56

30-Nov-17

1.30

1.88

17.68

101.05

Nil

*C & I LEASING *DANA#{r}

MPR+7.00 DANA 9-APR-2018

09-Apr-11

16.00

5.40

09-Apr-18

1.35

1.00

16.84

99.03

A-/DataPro†; B+/GCR

*TOWER#

MPR+7.00 TOWER 9-SEP-2018

09-Sep-11

18.00

2.54

09-Sep-18

1.51

1.00

16.98

101.25 98.80

AAA/DataPro†; A/GCR

*TOWER#

MPR+5.25 TOWER 9-SEP-2018

09-Sep-11

16.00

0.70

09-Sep-18

1.51

1.00

16.98

A+/Agusto; A/GCR

UBA

14.00 UBA II 30-SEP-2018

30-Sep-11

14.00

35.00

30-Sep-18

3.07

3.00

19.09

88.52

BBB+/Agusto; BBB+/GCR

15.75 LA CASERA 18-OCT-2018

18-Oct-13

15.75

2.10

18-Oct-18

1.62

2.29

18.30

96.64

BBB-/DataPro†; BB/GCR

*LA CASERA *CHELLARAMS#

MPR+5.00 CHELLARAMS II 17-FEB-2019

17-Feb-12

18.00

0.32

17-Feb-19

1.95

6.11

22.20

93.86

Nil

*DANA#{r}

16.00 DANA II 1-APR-2019

01-Apr-14

16.00

4.50

01-Apr-19

2.32

2.16

18.26

95.92

A+/Agusto; A-/GCR

NAHCO

15.25 NAHCO II 14-NOV-2020

14-Nov-13

15.25

2.05

14-Nov-20

5.20

2.76

18.78

88.53

BBB/GCR

FCMB

14.25 FCMB I 20-NOV-2021

20-Nov-14

14.25

26.00

20-Nov-21

6.21

1.00

17.08

89.34

A/GCR

UBA

16.45 UBA I 30-DEC-2021

30-Dec-14

16.45

30.50

30-Dec-21

6.32

1.00

17.09

97.51

A/GCR

STANBIC IBTC

182D T.bills+1.20 STANBIC IA 30-SEP-2024

30-Sep-14

16.29

0.10

30-Sep-24

9.07

1.00

16.94

97.00

A/GCR

STANBIC IBTC

13.25 STANBIC IB 30-SEP-2024

30-Sep-14

13.25

15.44

30-Sep-24

9.07

1.00

16.94

83.16

TOTAL OUTSTANDING VALUE

175.32

TOTAL MARKET CAPITALISATION

162.56

Supranational Bond AAA/S&P

IFC

10.20 IFC 11-FEB-2018

11-Feb-13

10.20

12.00

11-Feb-18

2.44

1.00

15.12

90.26

Aaa/Moody's; AAA/S&P

AfDB

11.25 AFDB 1-FEB-2021

10-Jul-14

11.25

12.95

01-Feb-21

3.66

1.00

17.08

84.93

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE

24.95 21.83

TOTAL MARKET CAPITALISATION Rating/Agency

Issuer

Description

Issue Date

Coupon (%)

Outstanding Value ($mm)

Maturity Date

Bid Yield (%)

Offer Yield (%)

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

7.60

7.33

96.29

97.44

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

6.33

5.90

96.90

97.99

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

7.87

7.66

91.36

92.52

FGN Eurobonds

Prices & Yields

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

FGN

BB-/Fitch; BB-/S&P

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,422.74

Corporate Eurobonds B+/Fitch; B+/S&P

GTBANK PLC I

7.50 MAY 19, 2016

19-May-11

7.50

500.00

19-May-16

4.33

4.33

102.13

102.13

B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

9.32

9.32

96.50

96.50

B/Fitch; B/S&P

FIDELITY BANK PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

16.99

14.55

79.00

83.51

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

9.56

8.90

90.45

92.15

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

8.88

8.88

92.00

92.00

B/Fitch; B/S&P

DIAMOND BANK PLC

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

12.53

11.83

89.05

90.94

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

FIRST BANK PLC ACCESS BANK PLC II FIRST BANK LTD

8.25 AUG 07, 2020 9.25/6M USD LIBOR+7.677 JUN 24, 2021 8.00/2Y USD SWAP+6.488 JUL 23 2021

07-Aug-13 24-Jun-14 23-Jul-14

8.25 9.25 8.00

300.00 400.00 450.00

07-Aug-20 24-Jun-21 23-Jul-21

9.71 13.27 13.64

9.71 12.80 13.64

93.70 84.09 77.00

93.70 85.74 77.00

B-/S&P

ECOBANK NIG. LTD

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

12.46

11.66

84.00

86.99

TOTAL OUTSTANDING VALUE

3,650.00

TOTAL MARKET CAPITALISATION

3,259.24

**Treasury Bills^ DTM 20 27 41 48 55 62 69 83

FIXINGS Maturity 24-Sep-15 1-Oct-15 15-Oct-15 22-Oct-15 29-Oct-15 5-Nov-15 12-Nov-15 26-Nov-15

Bid Discount (%) 10.59 13.45 13.56 13.44 13.73 11.60 13.67 13.86

Offer Discount (%) 10.34 13.20 13.31 13.19 13.48 11.35 13.42 13.61

Bid Yield (%) 10.65 13.59 13.77 13.68 14.02 11.83 14.04 14.31

Money Market Tenor

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 9.6250 15.2645 16.3719 18.1109

Rate (%)

OBB

8.17

O/N

8.75

Tenor Call 1M

REPO

Rate (%) 6.50 10.00

Foreign Exchange (Spot & Forwards) Tenor

Bid ($/N)

Offer ($/N)

Spot 7D 14D 1M 2M 3M

198.18 199.28 200.30 200.94 202.91 206.73

198.28 199.55 200.59 201.25 203.53 207.62

professional, financial or investment advice. We attempt to ensure the Information is accurate; however, the Information is provided “AS IS” and on an “AS AVAILABLE” basis and may not be accurate or up to date. We do not guarantee the accuracy, timeliness, completeness, performance or fitness for a particular purpose of any of the Information, neither do we accept liability for the results of any action taken on the basis of the Information.

Bonds FGN Bonds

Price

Rating/Agency

Issuer

Description 13.05 16-AUG-2016 ^15.10 27-APR-2017 9.85 27-JUL-2017 9.35 31-AUG-2017 10.70 30-MAY-2018 ^16.00 29-JUN-2019 7.00 23-OCT-2019 ^15.54 13-FEB-2020 ^16.39 27-JAN-2022 ^14.20 14-MAR-2024 15.00 28-NOV-2028 12.49 22-MAY-2029 8.50 20-NOV-2029 ^10.00 23-JUL-2030 ^12.1493 18-JUL-2034

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

TTM (Yrs)

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

16-Aug-13 27-Apr-12 27-Jul-07 31-Aug-07 30-May-08 29-Jun-12 23-Oct-09 13-Feb-15 27-Jan-12 14-Mar-14 28-Nov-08 22-May-09 20-Nov-09 23-Jul-10 18-Jul-14

13.05 15.10 9.85 9.35 10.70 16.00 7.00 15.54 16.39 14.20 15.00 12.49 8.50 10.00 12.1493

581.39 480.13 20.00 100.00 300.00 351.30 233.90 311.93 605.31 599.99 75.00 150.00 200.00 591.57 370.50

16-Aug-16 27-Apr-17 27-Jul-17 31-Aug-17 30-May-18 29-Jun-19 23-Oct-19 13-Feb-20 27-Jan-22 14-Mar-24 28-Nov-28 22-May-29 20-Nov-29 23-Jul-30 18-Jul-34

0.95 1.65 1.89 1.99 2.74 3.82 4.13 4.44 6.40 8.52 13.23 13.71 14.21 14.88 18.87

15.52 16.06 16.08 16.10 16.09 16.07 16.03 15.98 16.07 16.03 15.27 15.18 15.09 15.58 15.93

15.34 15.95 15.98 16.00 16.02 15.96 15.91 15.88 15.99 15.96 15.22 15.12 15.01 15.51 15.86

97.88 98.60 90.14 88.88 88.37 99.74 73.41 98.61 101.22 91.65 98.42 84.60 61.82 68.00 77.56

98.03 98.75 90.29 89.03 88.52 100.04 73.71 98.91 101.52 91.95 98.72 84.90 62.12 68.30 77.86

36 Business | Financial Market News NA

NA

PERSISTENT FALL

TOTAL OUTSTANDING VALUE

TOTAL MARKET There seemsCAPITALISATION to be no end in sight for Rating/Agency the firm’s dwindling Agency Bonds fortunes

MONDAY, September 7, 2015 NEW TELEGRAPH

CIS, AfDB collaborate on commodities market

Guinness reports 19% drop in FY profit T 4,971.02 4,433.43

Description

Issuer

FMBN

Issue Date

17.25 FMB II 03-APR-2017 0.00/16.00 LCRM 08-DEC-2016

03-Apr-12 09-Dec-11

LCRM II 19-APR-2017 Its dwindling fortune 20-Apr-12 However, 0.00/16.50 revenue rose 0.00/16.50 LCRM III 06-JUL-2017 06-Jul-12 nine per cent to N118.5 bil- continued during the six TOTAL OUTSTANDING VALUE months ended December TOTAL MARKET CAPITALISATION lion in the 12 months to uinness Nigeria June 30, year-on-year as 31, 2014 as it recorded a Sub-National Bonds against N109.202 billion 27 per cent drop in 30-Sep-10 Plc has posted profit A-/Agusto *EBONYI 13.00 EBONYI 30-SEP-2015 30-Jun-11 BBB+/Agusto19 per cent *BENUE 14.00 BENUE 30-JUN-2016 before tax. de- in 2014.

30-Jun-09 A/Agusto *IMO 15.50 IMO 30-JUN-2016 in its 2014 The company , however, The company, in19-Apr-10 a filA+/Agusto; ‡cline /GCR LAGOS 10.00 LAGOS 19-APR-2017 30-Jun-10 ‡ /Agusto *BAYELSA proposed to 13.75 BAYELSA 30-JUN-2017 full-year net earnings. pay N4.8 biling with the Nigerian 30-Dec-10 A-/Agusto EDO 14.00 EDO 31-DEC-2017 The brewing company , lion in dividends from its Stock exchange (NSE), 30-Sep-11 ‡ /Agusto; A+/GCR *DELTA 14.00 DELTA 30-SEP-2018 04-Oct-11 A-/GCR NIGER 14.00 NIGER II 4-OCT-2018 stated that the first-half profits. in‡A-/Agusto; a filing with the Nigeri09-Dec-11 /Agusto; A-/GCR† *EKITI 14.50 EKITI 09-DEC-2018 an Stock Exchange (NSE), Guinness14.00had N4.65 A-/Agusto *NIGER NIGER III also 12-DEC-2018pre-tax profit fell to12-Dec-13 14-Feb-12 A-/Agusto; A-/GCR *ONDO 15.50 ONDO 14-FEB-2019 in its billion. This indicates said that it recorded a reported a decline a 02-Oct-12 BBB+/Agusto; A-/GCR *GOMBE 15.50 GOMBE 02-OCT-2019 Aa-/Agusto; ‡ /GCR LAGOS 14.50 LAGOS post-tax profit of 1922-NOV-2019 per drop of 27.4 per cent22-Nov-12 profit after tax of N7.794 from 12-Dec-12 BBB-/Agusto; BBB+/GCR *OSUN 14.75 OSUN 12-DEC-2019 ago. billion for the full year cent to N9.573 billion BBB-/Agusto *OSUN 14.75 OSUN II from 10-OCT-2020 N6.41 billion a year 10-Oct-13 27-Nov-13 Aa-/Agusto; ‡ /GCR LAGOS 13.50 in LAGOS 27-NOV-2020 ended June 30, 2015.

This N11.863 billion its 2014 However, turnover rose 31-Dec-13 A-/Agusto; BBB+/DataPro KOGI 15.00 KOGI 31-DEC-2020 audited year.14.50 EKITI II 31-DEC-2020 to N55.26 billion in the is‡as against N9.573 billion six31-Dec-13 /Agusto *EKITI 06-Jan-14 A-/GCR *NASARAWA 06-JAN-2021 reported in 2014.

Revenues15.00 alsoNASARAWA declined month period to DecemTOTAL OUTSTANDING VALUE Also, pre-tax profit was to N109.20 billion in the ber from N52.75 billion a TOTAL MARKET CAPITALISATION down by eight per cent to 12-month period to June year earlier.

Corporate Bonds N10.8 billion as against 30, compared12.00 with N122.46 had FLOURMILLS 9-DEC-2015 The management BBB-/Agusto 09-Dec-10 *FLOURMILLS 14.00 CHELLARAMS 06-JAN-2016 BB/GCR 06-Jan-11 *CHELLARAMS N11.681 billion recorded billion during the same noted that it intends to 13.00 NAHCO 29-SEP-2016 A+/Agusto; A-/GCR 29-Sep-11 NAHCO a A-/Agusto year earlier. period last year.

14.25 FSDH 25-OCT-2016 expand its distribution 25-Oct-13 FSDH ***LCRM

Coupon (%)

Outstanding Value (N'bn)

17.25 0.00/16.00

2.10 112.22

20.00

he Chartered Insti-RiskuctsValuation and effective pricing Modelled Yield Avg. Life/TTM Premium (Yrs) (%) Price The tute of Stockbrokers mechanism to thrive. (%) (CIS) and the man- CIS trains manpower in 03-Apr-17 0.83 18.42 agement of African De- 2.94 this regard,” Abe 99.12 said.

08-Dec-16 1.26 1.00 16.77 99.08 19-Apr-17 1.62 (AfDB) 2.66 18.67 other103.23 velopment Bank He listed areas of 06-Jul-17 1.84 1.00 17.06 101.76 are set to collaborate on partnership with AfDB to the commodities market. include listing of powerThe duo, according to related institutions to acthe30-Sep-15 pact, are to0.07 work to- 3.23 cess capital through the 17.26 99.66 30-Jun-16 0.57 the vi- 4.46 various 19.86 relevant 96.93 market gether in ensuring 30-Jun-16 0.58 3.48 18.88 98.16 and partnerability of the commodities 19-Apr-17 1.62 1.00 platforms, 17.01 90.37 30-Jun-17 1.11 1.00 16.63 97.17 market and listing of Agro ship with CIS for empow31-Dec-17 2.32 1.79 17.89 92.80 Allied companies on its Diploma 30-Sep-18 1.71to boost 1.00 erment 17.03 95.82 04-Oct-18 1.72 1.00 17.03 Programme to 95.77 create activities in agriculture.

09-Dec-18 1.90 1.00 17.08 96.03 12-Dec-18 20.86 This is line with1.91the Fed- 4.78 employment and 90.01 support 14-Feb-19 2.09 1.00 17.10 97.34 eral government’s plan to 2.02 financial inclusion pro02-Oct-19 2.32 18.12 95.38 22-Nov-19 income 4.22base by 1.00 gramme 17.02of the 92.56 diversify govern12-Dec-19 2.39 1.00 17.10 95.69 shifting from oil. 1.82 ment, especially into the 10-Oct-20attention 2.93 17.91 93.27 27-Nov-20 5.23 1.00 17.02 88.05 Acting President, CIS, rural communities.

31-Dec-20 5.32 1.00 17.03 93.02 Mr.31-Dec-20 Oluwaseyi 3.17 Abe, dis- 1.00 “The17.09 CIS is willing 94.09to en06-Jan-21 3.19 1.00 17.09 95.18 closed this at the week- gage AfDB on how we can end while addressing the harmonise our Diploma Capital Market Corre- Programme. The ultimate spondents. the99.74 holders 09-Dec-15 0.26 1.00 is to empower 12.83 06-Jan-16 0.34 2.63 99.37 He also congratulated of our 15.62 Diploma to create 29-Sep-16 1.07 1.00 16.59 96.58 the25-Oct-16 newly appointed Presi- 1.34 employment and enhance 1.14 17.00 97.20 30-Sep-17 17.10 93.06 dent of AfDB, Dr.2.07 Akinwu- 1.00 the government’s financial 30-Nov-17 1.30 1.88 17.68 101.05 mi09-Apr-18 Adesina. inclusion programme es1.35 1.00 16.84 99.03 09-Sep-18 1.51 101.25 Abe explained that the 1.00 pecially16.98 into the rural com09-Sep-18 1.51 1.00 16.98 98.80 CIS had been 3.07 working 3.00 munities”, 30-Sep-18 19.09 Abe said.

88.52 18-Oct-18 1.62 2.29 18.30 96.64 closely with Dr. Adesina Collaborating with 17-Feb-19 1.95 6.11 22.20 93.86 during 01-Apr-19his tenure 2.32 as the 2.16 him, the 18.26Institute’s 95.92 Sec14-Nov-20 5.20 2.76 18.78 88.53 Minister of Agriculture. ond Vice President, Mr. 20-Nov-21 6.21 1.00 17.08 89.34 He said that both the Dapo Adekoje, reiterated 30-Dec-21 6.32 1.00 17.09 97.51 30-Sep-24 9.07 16.94 97.00 CIS and AfDB had many 1.00 the plan to deepen the 30-Sep-24 9.07 1.00 16.94 83.16 things in common, es- market through effective pecially in the areas of operation of the Comcreating awareness on modities Exchange. the11-Feb-18 benefits of2.44promot- 1.00 The 15.12 Institute’s 90.26 Reg3.66 1.00 17.08 ing01-Feb-21 active Commodities istrar and Chief 84.93 ExecuExchange and the listing tive, Mr. Adedeji Ajadi of companies in the agro explained that the proMaturityindustry Date Bid (%) Bid PriceDiploma Offer Price allied . Yield (%) Offer Yieldfessional was “We need active and Prices already generating inter& Yields transparent Commodiest in the public as many 28-Jan-21 7.60 7.33 96.29 97.44 ties Exchange in order to youths are now writing 12-Jul-18 6.33 5.90 96.90 97.99 develop our agricultural the examination.

12-Jul-23 7.87 92.52 said that the Instisector as a huge source7.66 Abe 91.36 of income rather than de- tute’s 2015 Annual Conpend on crude oil. This ference of Stockbrokers is in tandem with the would hold on October 19-May-16 4.33 4.33 29 and 102.13 Federal Government’s 30 with the102.13 theme: 25-Jul-17 9.32 9.32 96.50 96.50 policy of diversification “Entrepreneurship and 02-May-18 16.99 14.55 79.00 83.51 Market: of 08-Nov-18 the economy. 9.56 The agro-8.90 the Capital 90.45 92.15 Fast 22-Apr-19 8.88 92.00 92.00 allied companies require 8.88 Tracking a New Economy 21-May-19 12.53 11.83 89.05 90.94 standardisation of prodfor Africa.”

07-Aug-20 9.71 9.71 93.70 93.70

0.00/16.50 by 116.70 footprint covering 0.00/16.50 66.49 about 20-30 per cent more 297.52 mid-tier outlets. 301.41 Mr. Babatunde Savage, Chairman, Guinness 13.00 2.16 Ni2.60 the geria 14.00 Plc, said that 15.50 3.96 Board10.00 continues to sup57.00 13.75 21.24 port the management in 14.00 25.00 its efforts to continue 14.00 30.81 to 14.00 9.00 grow the business and de14.50 12.40 14.00 9.21 liver shareholders’ value.

15.50 24.44 “We will continue to 15.50 15.09 14.50 our cost80.00 manage base 14.75 24.74 tightly to deliver moder14.75 10.46 13.50 87.50 ate operating margins 15.00 5.00 improvement.

The Board 14.50 4.30 15.00 4.31 is confident that our focus 429.21 on our strategic priorities 397.75 will return the business back 12.00 to growth and 9.38 im14.00 0.22 proved profitability ,” he 13.00 15.00 said. 14.25 5.53

G

#

Maturity Date

A/GCR

UBA

13.00 UBA 30-SEP-2017

30-Sep-10

13.00

BBB-/GCR

18.00 C&I LEASING 30-NOV-2017

30-Nov-12

18.00

Nil

*C & I LEASING *DANA#{r}

MPR+7.00 DANA 9-APR-2018

09-Apr-11

16.00

5.40

A-/DataPro†; B+/GCR

*TOWER#

MPR+7.00 TOWER 9-SEP-2018

09-Sep-11

18.00

2.54

AAA/DataPro†; A/GCR

*TOWER#

MPR+5.25 TOWER 9-SEP-2018

09-Sep-11

16.00

0.70

A+/Agusto; A/GCR

UBA

14.00 UBA II 30-SEP-2018

30-Sep-11

14.00

35.00

BBB+/Agusto; BBB+/GCR

*LA CASERA *CHELLARAMS#

15.75 LA CASERA 18-OCT-2018

18-Oct-13

15.75

2.10

MPR+5.00 CHELLARAMS II 17-FEB-2019

17-Feb-12

18.00

0.32

9.25/6M USD LIBOR+7.677 JUN 24, 2021 8.00/2Y USD SWAP+6.488 JUL 23 2021

24-Jun-14 23-Jul-14

9.25 8.00

400.00 450.00

24-Jun-21 23-Jul-21

13.27 13.64

12.80 13.64

84.09 77.00

85.74 77.00

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

12.46

11.66

84.00

4-Sep-15

0.56

Conoil’s post-tax profit falls by 73%

C

BBB-/DataPro†; BB/GCR

onoil Plc, one of*DANA the coun- decline ofDANA 66.51 per cent.

16.00 II 1-APR-2019 Nil 15.25 NAHCO II 14-NOV-2020 A+/Agusto; A-/GCR NAHCO try’s petroleum and marThe oil firm’s revenue was 14.25 FCMB I 20-NOV-2021 BBB/GCR FCMB

by UBA 19.54 per cent, from has down 16.45 I 30-DEC-2021 A/GCR keting companies, UBA 182D T.bills+1.20 STANBIC IA 30-SEP-2024 A/GCR STANBIC IBTC billion a year earlier reported 72.82 per cent drop in N159.537 13.25 STANBIC IB 30-SEP-2024 A/GCR STANBIC IBTC net earnings for the full year to N128.352 billion in 2014.

TOTAL OUTSTANDING VALUE ended 31, 2014.

Earnings Per Share (EPS) TOTAL December MARKET CAPITALISATION Key extracts also fell by 72.85 per cent to120 Supranational Bondof the accounts statement for the fullIFCyear re- kobo during the period under 10.20 IFC 11-FEB-2018 AAA/S&P AFDB 1-FEB-2021 Aaa/Moody's; AAA/S&P AfDB leased

by Nigerian Stock Ex- review11.25 from 442 kobo in 2013.

TOTAL OUTSTANDING VALUE change (NSE) showed drops in The downstream petroleum TOTAL MARKET CAPITALISATION key performance indices, damp- sector has witnessed its share of Rating/Agency Issuer ing performance outlook of the mixed fortunes, asDescription it remained company . a partially deregulated indusFGN Eurobonds The oil company posted a try. Besides the6.75 deregulation, JAN 28, 2021 BB-/Fitch; B+/S&P profit after tax of N834.421 mil- the economy took a downward BB-/Fitch; FGN 5.13 JUL 12, 2018 BB-/S&P lion during the financial year turn with the slump of global BB-/Fitch; 6.38 JUL 12, 2023 2014 as against N3.070 billion oil prices in 2014.

This trend, BB-/S&P TOTAL OUTSTANDING VALUE recorded a year earlier.

This which continued into the second TOTAL MARKET CAPITALISATION represented a decline of 72.82 first quarter of 2015 was further per cent. Eurobonds worsened in the second quarter.

Corporate 7.50 MAY 19, 2016 B+/Fitch; GTBANK PLC I Massive disruptions in both The B+/S&P company’s profit before 7.25 JUL 25, 2017 B+/S&P ACCESS BANK PLC tax equally dropped to N1.532 the upstream and downstream 6.88 MAY 09, 2018 B/Fitch; B/S&P FIDELITY BANK PLC billion during the period under created an obvious dip08,in 6.00 NOV 2018reveB+/Fitch; B+/S&P GTBANK PLC APR 22, 2019 B+/Fitch; BB-/S&P ZENITH BANK PLC review in contrast to N4.575 re- nues due to lower6.25 sales volumes.

8.75 May 21, 2019 B/Fitch; B/S&P DIAMOND BANK PLC ported in 2013, accounting Security challenges were 8.25 AUG 07, 2020 and B-/Fitch; B/S&P FIRST BANKfor PLC

have remain concern 01-Apr-14 a major 16.00 4.50 14-Nov-13 15.25 2.05 across the country as petroleum 20-Nov-14 14.25 26.00 marketers continued 16.45 to experi- 30.50 30-Dec-14 30-Sep-14 16.29 0.10 ence violence most especially in 15.44 30-Sep-14 13.25 the northern part of the country. 175.32 The industry has also con- 162.56 tinued to experience sustained pressure on its cash flows due 12.00 11-Feb-13 10.20 to late 10-Jul-14 payments of 11.25 subsidies 12.95 resulting in huge financial ex- 24.95 21.83 penses.

Outstanding Value Issue Date (%) the Market pundits Coupon believe ($mm) sector has been affected by the delay in payment of6.75subsidy 500.00 07-Oct-11 claims as the Federal Govern12-Jul-13 5.13 500.00 ment works to weed out corruption12-Jul-13 in the system.6.38 This has 500.00 placed a huge financial burden 1,500.00 1,422.74 on the petroleum companies.

The global decline in crude oil 19-May-11 7.50 prices, devaluation of naira, and 500.00 25-Jul-12 7.25 350.00 rising 09-May-13 interest rates have also 6.88 300.00 significantly affected the opera08-Nov-13 6.00 400.00 22-Apr-14 6.25 tions of the sector and has con- 500.00 21-May-14 8.75 200.00 tinued 07-Aug-13 to raise the input 8.25 costs.

300.00

#{r}

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

ACCESS BANK PLC II FIRST BANK LTD

B-/S&P

ECOBANK NIG. LTD

FMDQ Daily Quotations List

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

3,650.00 3,259.24

86.99

The DQL contains data relating to, amongst other things, market and model prices, rates of foreign exchange products, fixed income securities and instruments in the financial market (the “Information”). The Information does not constitute professional, financial or investment advice. We attempt to ensure the Information is accurate; however, the Information is provided “AS FIXINGS IS” and on an “AS AVAILABLE” Money basis and may not be accurate or up to date. We do not guarantee **Treasury Bills^ Market Foreign Exchange (Spot & Forwards) Bid for Discount (%) Offer Discount Bid Yield (%) Tenor Rate (%) the accuracy,DTM timeliness, completeness,Maturity performance or fitness a particular purpose of any of(%) the Information, neither do we accept liability NIBORfor the results of any action taken on the basis of the Information.

20 27 41 48 55 62 69 83 Rating/Agency 90 97 104 111 125 132 139 146 153 160 167 174 NA 181 195 202 209 216 223 230 237 244

24-Sep-15 1-Oct-15 15-Oct-15 22-Oct-15 29-Oct-15 5-Nov-15 12-Nov-15 26-Nov-15 Issuer 3-Dec-15 10-Dec-15 17-Dec-15 24-Dec-15 7-Jan-16 14-Jan-16 21-Jan-16 28-Jan-16 4-Feb-16 11-Feb-16 18-Feb-16 25-Feb-16 NA 3-Mar-16 17-Mar-16 24-Mar-16 31-Mar-16 7-Apr-16 14-Apr-16 21-Apr-16 28-Apr-16 5-May-16

FGN Bonds

265

26-May-16

272 TOTAL OUTSTANDING VALUE 314

10.59 13.45 13.56 13.44 13.73 11.60 13.67 13.86 Description 11.13 13.43 13.05 16-AUG-2016 12.26 13.73 ^15.10 27-APR-2017 14.44 9.85 27-JUL-2017 14.83 9.35 31-AUG-2017 14.70 14.76 10.70 30-MAY-2018 14.49 ^16.00 29-JUN-2019 14.72 7.00 23-OCT-2019 14.42 14.61 ^15.54 13-FEB-2020 14.28 ^16.39 27-JAN-2022 13.63 13.73 ^14.20 14-MAR-2024 14.49 15.00 28-NOV-2028 14.60 12.49 22-MAY-2029 14.70 14.45 8.50 20-NOV-2029 14.73 ^10.00 23-JUL-2030 14.43

^12.1493 18-JUL-2034 14.60

10.34 13.20 13.31 13.19 13.48 11.35 13.42 13.61 Issue Date 10.88 13.18 16-Aug-13 12.01 13.48 27-Apr-12 14.19 27-Jul-07 14.58 31-Aug-07 14.45 14.51 30-May-08 14.24 29-Jun-12 14.47 23-Oct-09 14.17 14.36 13-Feb-15 14.03 27-Jan-12 13.38 13.48 14-Mar-14 14.24 28-Nov-08 14.35 22-May-09 14.45 14.20 20-Nov-09 14.48 23-Jul-10 14.18

18-Jul-14 14.35

10.65 13.59 13.77 13.68 14.02 11.83 14.04 14.31 (%) Coupon 11.44 13.93 13.05 12.71 14.32 15.10 15.19 9.85 15.66 9.35 15.57 15.69 10.70 15.42 16.00 15.74 7.00 15.44 15.70 15.54 15.37 16.39 14.70 14.86 14.20 15.80 15.00 15.98 12.49 16.14 15.89 8.50 16.28 10.00 15.97

Bonds

12.1493 16.32

2-Jun-16

14.10

13.85

14-Jul-16

14.52

14.27

16.59

335 4-Aug-16 13.92 *for the Amortising bonds, the average life is calculated and not the duration

13.67

15.96

TOTAL MARKET CAPITALISATION

15.75

Tenor O/N 1M 3M 6M

Rate (%) 9.6250 15.2645 16.3719 18.1109

8.17

O/N

8.75

REPO

Outstanding Value (N'bn)

Maturity Date

581.39 Tenor 1M 480.13 2M 20.00 3M 100.00 6M 9M 300.00 12M

16-Aug-16 Rate (%) 13.5677 27-Apr-17 13.9802 27-Jul-17 14.1815 31-Aug-17 15.6248 15.6933 30-May-18 16.1487

NITTY

OBB

351.30 29-Jun-19 233.90 23-Oct-19 311.93 NIFEX 13-Feb-20 605.31 Current Price ($/N)27-Jan-22 BID($/N) 599.99 199.0000 14-Mar-24 OFFER ($/N) 199.1000 75.00 28-Nov-28 150.00 22-May-29 200.00 20-Nov-29 591.57 23-Jul-30 370.50 18-Jul-34

Tenor Call 1M (Yrs) TTM 3M 6M

Rate (%) 6.50 10.00 Bid Yield 12.00 13.00

Tenor

(%)

Bid ($/N)

Spot 7D 14D 1M 2M Yield Offer 3M 6M(%) 1Y

0.95 15.52 15.34 1.65 16.06 15.95 1.89 16.08 15.98 :Benchmarks 1.99 16.10 16.00 * :Amortising Bond µ :Convertible 2.74Bond 16.09 16.02 AMCON: Asset Management Corporation of Nigeria 3.82 16.07 15.96 FGN: Federal Government of Nigeria 4.13Mortgage Bank 16.03 15.91 FMBN: Federal of Nigeria IFC: International 4.44 Finance Corporation 15.98 15.88 LCRM: Local Contractors Receivables Management 6.40 Aviation Handling 16.07Company 15.99 NAHCO: Nigerian O/N: Overnight 8.52 16.03 15.96 UPDC: UAC Property Development Company 13.23 15.27 15.22 WAPCO:West Africa Portland Cement Company 13.71 15.18 15.12 14.21 15.09 15.01 14.88 15.58 15.51 18.87 15.93 15.86

NOTE:

Offer ($/N)

198.18 198.28 199.28 199.55 Price200.59 200.30 200.94 201.25 202.91 203.53 206.73 207.62 Bid Price Offer 214.08 215.61 225.90 229.39

Price

97.88 98.03 98.60 98.75 90.14 90.29 NA :Not Applicable 89.03 ^ : Market88.88 Prices # : Floating Rate Bond 88.37 88.52 ***: Deferred coupon bonds 99.74 100.04 73.41 under review73.71 ‡ : Bond rating †: Bond rating 98.61expired 98.91 N/A :Not Available {r} :Issuer101.22 in receivership 101.52 91.65 91.95 NGC: Nigeria-German Company 98.42 98.72 UBA: United Bank for Africa 84.60 84.90 61.82 62.12 68.00 68.30 77.56 77.86

4,971.02 4,433.43

#

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

Rating/Agency

Issuer

Description

Issue Date

Agency Bonds FMBN Modified Duration Buckets

***LCRM <3

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

3<5 >5 Market

17.25 FMB II 03-APR-2017 0.00/16.00 LCRMValue(Bn) 08-DEC-2016 Total Outstanding Porfolio Market Volume(Bn) 0.00/16.50 LCRM II 19-APR-2017 0.00/16.50 LCRM III 06-JUL-2017 823.83 831.43

Coupon (%)

Outstanding Value (N'bn)

FMDQ FGN BOND INDEX

03-Apr-12 Weighting by 09-Dec-11 Outstanding Vol 20-Apr-12 06-Jul-12 25.11

17.25

Weighting

by Mkt 0.00/16.00 Value

0.00/16.50 0.00/16.50 27.61

1,470.17

1,517.23

45.83

49.28

689.61

962.07

29.06

23.11

2,983.61

3,310.74

100.00

100.00

2.10

112.22 Bucket Weighting

116.70 66.49 0.25

Maturity Date

03-Apr-17

% Exposure_ 08-Dec-16 Mod_Duration

19-Apr-17 06-Jul-17 11.99

Avg. Life/TTM (Yrs)

# Risk Premium (%)

0.83

2.94

Implied 1.26 Yield

1.62 1.84 16.06

Implied 1.00 Portfolio Price

2.66

Valuation Yield (%)

Modelled Price

18.42

99.12

16.77 INDEX 18.67

YTD Return 99.08 (%)

103.23

1.00 128.8890

17.06 1,172.59

101.76 5.8439 5.0076

297.520.46

44.19

16.03

122.6472

1,063.28

301.411.00

43.82

15.72

91.5508

1,103.74

9.6049

100.00

15.90

115.1784

1,096.80

3.9439

0.29

Sub-National Bonds A-/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

2.16

30-Sep-15

0.07

3.23

17.26

99.66

BBB+/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

2.60

30-Jun-16

0.57

4.46

19.86

96.93

A/Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

3.96

30-Jun-16

0.58

3.48

18.88

98.16

A+/Agusto; ‡ /GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

1.62

1.00

17.01

90.37

‡ /Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

21.24

30-Jun-17

1.11

1.00

16.63

97.17

A-/Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

2.32

1.79

17.89

92.80

‡ /Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

30.81

30-Sep-18

1.71

1.00

17.03

95.82

NEW TELEGRAPH monday, september 7, 2015

News 37

national

Buhari hails Okonkwo at 70 Anule Emmanuel ABUJA

P

resident Muhammadu Buhari has commended Bishop Mike Okonkwo on the occasion of his 70th birthday.

The President has also lauded the clergy's life-long commitment to the service of God and humanity.

Special Adviser on media and publicity to the President, Femi Adesina, said in a congratulatory letter to the Presiding Bishop of The Redeemed Evangelical Mission (TREM), President Buhari praised the Bishop’s tireless dedication to his duty as the spiritual shepherd of many Nigerians and non-Nigerians.

“It gives me immense joy to felicitate with you as you clock the landmark age of 70 years.

More than four decades of these 70 years have been dedicated to the work of God as a pastor and preacher.

“Our prayer is that God will give you longer life, strength and ability to serve Him for many more years,” the President stated.

President Buhari wished Bishop Okonkwo, members of his family and The Redeemed Evangelical Mission a very happy celebration of his birthday.

Former Anambra State Governor, Mr. Peter Obi (middle); with late Prof. Dora Akunyili’s husband, Dr. Chike Akunyili; other children of Prof. Akunyili, after the one-year memorial lecture Obi delivered in her honour, at Nike Lake Hotel, Enugu …at the weekend

Judicial workers urge Buhari to probe govs Yekeen Nurudeen

ABUJA

T

he Judiciary Staff Union of Nigeria (JUSUN) has called on President Muhammadu Buhari to probe state Governors that are deliberately refusing the financial autonomy of the judiciary.

The union at the end of its National Executive

Osun lawmaker lauds Buhari's examples member of the enough for liberal mind Osun State House to see.

A of Assembly representThe lawmaker said ing Obokun Constituency, Olatunbosun Oyintiloye has said that the activities of President Muhammadu Buhari government within 100 days in office has demonstrated that he is sincere, believable and well focused to return the nation to the path of greatness.

Oyintiloye said his activities so far had shown that he is not only meticulous, mature but full of insight. He said the president has set the right momentum in the journey of change that the people desperately sought.

Speaking at a meeting with some political leaders in Ibokun at the weekend, Oyintiloye said the input that has been made in the fight against insecurity, corruptions, as well as economic developments were quantifiable and appreciative

the President's mien and steps had revealed that insecurity can be subdued, corruption tamed, bad economy addressed and hope restored.

"The machinery that President Buhari has been able to set in motion to fight security challenges deserves applause of Nigerians. The area of note is the order for the relocation of Military Command Centre to the North-East, which is the theatre of the insurgency.”

According to him, the goodwill established by the President in the diplomatic arena and willingness of the International community including United States of America to cooperate with Nigeria in the area of economy, insecurity and corruption indicated the giant strides of President Buhari-led Administration.

Council (NEC) meeting at the Paschal Bafyau Labour House, Abuja, said disobeying the Constitution of the Federal Republic of Nigeria as well as court order by the governors is an impeachable offence and should be vigorously investigated.

President of the union, Comrade Marwan Mustapha Adamu and its General Secretary, Isaiah Adetola, stated in a com-

munique issued at the end of the meeting that corruption in the nation's judicial system and in the country can be reduced if financial and total independence of Judiciary is granted.

The union disclosed that a committee has been put in place to discuss what to do with state Governors who are fighting financial autonomy of judiciary.

T

Nigeria on right track, says FCC

he Commissioner representing Sokoto State on the Federal Character Commission, Alhaji Nasiru Zarumai, on Sunday said that Nigeria had been put on the right track in the last 100 days.

“The various tiers of government, all the agencies, both public and private, have also been striving to be more responsive to the yearnings and aspirations of Nigerians,'' he said.

The News Agency of Nigeria (NAN) reports that Zarumai spoke in Sokoto at a news conference to mark the first 100 days in office of President Muhammadu Buhari and the various state governors.

“The governments have also been employing various cost saving measures and globally-accepted style of governance.

“Although one hundred days are not a realistic target within which developmental activities can be judged, they have begun to resurface the kind of change Nigerians had yearned for,” he said.

Zarumai said that Ni-

geria's economic indices were tremendously beginning to improve.

He cited the examples of the improvement in power supply and the renewal of public trust in government, adding that Nigerians were now more confident in the responsiveness, goodwill and renewed commitment of governments at all levels. ''Nigerians, who voted the government, are happy with the way the government is responding to their expectations. We are also beginning to see how the citizens of the country

This it described as criminal for any state governor to disregard the constitution which he sworn to uphold as well as the judgement of Federal High Court, Abuja on the matter after they failed to appeal the judgement within a stipulated time.

While commending the Governors of Kastina, Jigawa, Oyo and Ondo states for respecting and complying with the provi-

sion of the constitution, the union urged other state governors to follow suit to avoid industrial crisis in their respective states.

“NEC in session frowns bitterly at deliberate refusal of the other governors to obey the constitution of the Federal Republic of Nigeria, 1999, as amended on the issue of the financial autonomy of the judiciary as declared by the Federal High Court Abuja on the 13th of January, 2014.

“NEC in session while commending President Muhammadu Buhari on his ongoing anti corruption war, also urge him to continue and sustain the fight until victory is ensure,” JUSUN stated

are positively and actively participating in ensuring good governance. ''There is also the rejuvenation of discipline in public service and organisations that were hitherto breaching the federal character provisions are now speedily retracting,'' he said.

Zarumai also said that impunity was now longer the norm in the nation as it is “no longer business as usual”.

He added that the image and respect of the country, locally and internationally, had been bol-

stered, while more foreign direct investments were flooding into the country.

Zarumai said that Nigeria was winning the war against insurgency, militancy and other related crimes.

“Nigerians are now happily going about their lawful and normal activities without any let or hindrance,'' he said.

The Federal Character Commissioner commended the appointment of Prof. Bashir Garba, as the Secretary to the Sokoto State Government by Gov. Aminu Tambuwal.

Manufacturers to chart new vista on economy Taiwo Hassan

C

iting the present economic situation in the country, the Manufacturers Association of Nigeria (MAN), has pledged to meet President Muhammadu Buhari, on for mulation of economic policy that will

sustain the country’s e c o n o m i c d eve l o p ment.

The move by MAN to meet the President may not be unconnected with recent economic policies rolled out by Central Bank of Nigeria (CBN), especially 41 items listed in the forex import restriction

(forex trade).

In the same vein, the association also stated that it had been collaborating with the Central Bank of Nigeria, to determine items that should be excluded from forex allocation based on availability of local capacity or alternatives.

38 News

monday, september 7, 2015 NEW TELEGRAPH

south south-west - south

The Bells, UNILAG, others to host The Enitan Story Kayode Olanrewaju

T

he stage is set for a oneweek awareness tour of some private and public higher institutions in Lagos by a United States-based non-profitable organsation, The Enitan Story.

The awareness tour, tagged: “Human Trafficking Awareness Tour of Nigerian Universities and Colleges - Bringing The Story Back Home,” is being organised by the Executive Director/Founder of The Enitan Story, Bukola Oriola, a Nigerian

change of name

Abdulsalam

I formerly known and addressed as Daramola Rukiyat Abolanle, now wish to be addressed Abdulsalam Rukiyat Abolanle.

All former documents remain valid. Immigration and general public take note

based in the United States of America.

Oriola, a victim and survivor of human trafficking in the United States, is deploying the platform of her pet project to bring her story of human trafficking to Nigeria, in order to educate the young ones, especially women about the ordeal of human trafficking who are being lured to travel abroad.

Oriola is the author of the book, “Imprisoned: The Travails of a Trafficked Victim,” written to chronicle her experience, ordeal and trail as a victim and survivor of human trafficking in the United States.

The tour, according to Oriola, is being organised

by The Enitan Story in collaboration with the U.S Consulate, Lagos; with the Google, Dunas (Party Planner), Metropolitan State University, U.S, and others.

PUBLIC NOTICE

LIME LIGHT CHURCH INT’L The general public is hereby notified that the above named has applied to Corporate Affairs Commission for registration under part “C” of the Companies and Allied Matters Act 2004.

The Trustees are: 1. PASTOR A DIVINE DAVID — PRESIDENT 2. OLOREDE THOMPSON ABIMBOLA 3 OLOREDE VICTORIA — SECRETARY AIMS AND OBJECTIVES 1. To preach the gospel of our Lord Jesus Christ .

2. To preach Christ love, fellowship, respect and peaceful co-existence amongst members 3. To deliver the oppressed, heal the sick and set the captive free 4. To organize seminars, conferences, workshops, faith clinics and training centers to enhance the spiritual growth of the people in the lord 5. To undertake missionary/evangelistic work in Nigeria and the whole world 6. To give welfare and empowerment to needy 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: TRUSTEES

PUBLIC NOTICE

THE CHRIST BLOOD INTERNATIONAL COVENANT MINISTRY The general public is hereby notified that the above ORGANISATION has applied to Corporate Affairs Commission for registration under part “C” of the Companies and Allied Matters Act 2004.

The Trustees are: 1. MRS OLUWASANMI TAIWO - CHAIRMAN 2. MR OGUNLEYE GBENGA GABRIEL 3. MR OGUNLADE OLADIPO - SECRETARY AIMS AND OBJECTIVES 1. To preach the gospel of Christ to all and sundry especially those in contact with us for the salvation of their souls 2. To embark on Christian education programmes for the spiritual growth of the society at large.

3. To establish and maintain church branches and fellowship centres in and outside Nigeria 4. To bring people’s soul out of darkness into the light of the world 5. To foster good relationships within church members 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: CHAIRMAN

PUBLIC NOTICE

CITY OF DAVID FAITH MISSION INTERNATIONAL The general public is hereby notified that the above named MISSION has applied to Corporate Affairs Commission for registration under part “C” of the Companies and Allied Matters Act 2004.

The Trustees are: 1. PASTOR BALOGUN EZEKIEL 2. OLOMU GODSPOWER TAMARA 3. EVANGELIST ADEDEJI ADEOLU ISAAC AIMS AND OBJECTIVES 1. To preach the gospel of our Lord Jesus Christ .

2. To preach Christ love, fellowship, respect and peaceful co-existence amongst members 3. To deliver the oppressed, heal the sick and set the captive free 4. To undertake missionary/evangelistic work in Nigeria and the whole world 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: BARRISTER MRS D.O. TITILOLA 07032951938

L-R: Oyo State Governor, Abiola Ajimobi; his Deputy, Otunba Moses Alake Adeyemo; husband of the Commissioner-in-Charge of Africa, Maryland State, United States of America (USA), Mr. Olusola Eesuola and Dr. Anu Eesuola, during a courtesy visit to the governor in Ibadan.

Kunle Olayeni Abeokuta

O

gun State command of the Nigeria Security and Civil Defence Corps (NSCDC) yesterday said its men have recovered about 10,850 litres of vandalised petroleum products from suspected vandals.

The products were recovered during an operation in Isasi-Alagbole and other areas in Obafemi-Owode and Ifo local government areas of the state.

The state NSCDC Public Relations Officer, Kareem Olanrewaju, who confirmed this in a statement made available in Abeokuta, however, said

NSCDC recovers 10,000 litres of fuel from vandals the suspects escaped.

Olanrewaju stated that the agency's antivandal team was tipped about the activities of vandals in the area and immediately moved to the scene in the early hours of yesterday (Sunday).

He said, "On getting there, the suspects who noticed their patrol vehicles from afar, took to their heels and escaped through the creek around the place.

"After a hot chase and extensive search within the vicinity, they were

unable to get any of them but recovered the products in their possession."

He explained that the NSCDC state commandant, Aboluwoye Akinwande, has already mandated the squad to intensify effort aimed at arresting the suspects, adding that "the corps will continue to carry out raids on vandals hideout around pipelines and other locations."

In another development, the NSCDC yesterday arrested a 54-year-

Caring heart initiative aimed at fighting poverty — Mimiko O

ndo State Governor, Dr. Olusegun Mimiko has said the Caring Heart initiative of his government is aimed at fighting poverty, even as he urged the Federal Government to come up with a clearly defined economic policy that will not put Nigerians in confusion.

He advised the Federal Government to pursue its privatization policy with genuine interest to promote the interest of the masses and not the one that will promote monopoly at the detriment

of the poor masses.

Governor Mimiko made the submissions at the weekend in Akure, during the 6th Gani Fawehinmi Annual Memorial Lecture and Tributes.

The event, which held at the State Cultural Centre, Akure, attracted human rights activists from across the country, including the former governor of Kaduna State, Alhaji Balarabe Musa who chairman the occasion, the chairman National Conscience Party (NCP), Dr Tanko Yinusa

and the chairman of Gani Fawehinmi Memorial Organisation, Comrade Ayodele Akele among others.

The Governor, while charging the President Buhari-led government to come out with a clearly defined economic policy that will not put Nigerians in confusion, noted that the essence of his administration in Ondo State is to fight poverty through its Caring Heart programmes of qualitative education, healthcare, urban renewal and equality.

Adeleke Varsity honours Tinubu, Dangote, Belgore Adeolu Adeyem Osogbo

T

he Adeleke University Ede, Osun State at the weekend honoured the Leader of the All Progressive Congress (APC), Asiwaju Ahmed Tinubu business mongul Alhaji

Aliko Dangote and eminent Jurist Justice Alpha Belgore at its maiden convocation that took place at the institution’s campus.

Speaking at the event, Tinubu told the graduating students that, the greatest weapon to fight poverty to a standstill is education but maintained

that, it is not the only answer to success in life.

Tinubu who was honoured with honourary Doctor of Political Science and Diplomacy, also charged graduands to be productive and self-reliant to become a productive elements in any society they may find themselves.

old woman, identified as Mary Ayede, for alleged vandalism in Abeokuta.

"The cable when converted could be used to produce expensive necklace, wire works and other valuables. The wire is hot cake, especially to those who engage in the production of the above mentioned materials," he added.

The NSCDC spokesman noted that the suspect, with others, had been engaging in the trade for a long time.

He said she will soon be charged to court.

Ekiti set for education summit Adesina Wahab Ado-Ekiti

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he Ekiti State Government has concluded all arrangements for the state Education Summit aimed at proffering solutions to the decadence and the setback in the education sector.

According to the Chief Press Secretary to the Governor, Mr. Idowu Adelusi, in Ado-Ekiti yesterday, all arrangements have been concluded for a successful event.

He noted that Governor Ayo Fayose was familiar with taking such a step, as the governor organised a similar event during his first term in office.

"The summit then was chaired by Chief Afe Babalola (SAN) and within two years, the result was clear for all to see. The performance of our students in external examinations conducted

by WAEC and NECO improved significantly.

NEW TELEGRAPH monday, september 7, 2015

Steve Uzoechi OWERRI

A

detachment of policemen from the Imo State police command early yesterday stormed the house of the leader of the Movement for the Actualisation of the Sovereign State of Biafra (MASSOB), Chief Ralph Uwazuruike and allegedly arrested over 25 members of the group on guard duty.

The policemen said to be combat-ready arrived at the MASSOB leader's

Police arrest 25 in raid on Uwazuruike's house premises in over 10 Hilux vans.

A MASSOB member, who did not want his name mentioned, told our correspondent that the policemen had condoned off the house of their leader and adjoining buildings, as they arrested all their members on duty, who were not armed.

He said the policemen had contemplated breaking into Uwazuruike’s house, but that their leader advised against it, say-

Ugwuanyi emphasises need for ICT competence Charles Onyekwere ENUGU

E

nugu State Governor, Ifeanyi Ugwuanyi, at the weekend, emphasised the need for Information Communication Technology (ICT) competence as a way of developing the society.

The governor said in “this 21st Century, no meaningful development can take place without ICT competence, adding that such training is needed to bail the people out of the clutches of poverty.

Governor Ugwuanyi spoke during the inauguration of the ICT Centre

ENUGU

E

nugu State Governor, Ifeanyi Ugwuanyi, at the weekend, resumed work at the abandoned Enugu International Conference Centre (ICC).

The resumption of work at the centre, reports said, was partly to mark his 100 days in office.

When our reporter visited the site, located oppo-

site the Michael Okpara Square in the capital city, two earth machines, including a bulldozer, were on site clearing the large expanse of land.

New Telegraph learnt that Governor Ugwanyi will visit the site today and that the machines were getting ready for his coming and onward resumption of work at the multi-million naira conference centre with a 10, 000-capacity auditorium.

I won’t implement your demand, Umahi tells striking workers Uchenna Inya ABAKALIKI

E

bonyi State Governor, Dave Umahi, at the weekend, told the state workers who are on a seven-day warning strike that he will not implement the salary structure they are demanding from the government.

The new salary structure gave junior workers seven percent increment and allotted 125 percent to senior workers.

The governor spoke while inaugurating 15

ing that he was convinced that the MASSOB leader was not at home.

MASSOB’s Assistant National Director of Information, Comrade Sunny Okereafor, alleged that the mission of the police was to assassinate the MASSOB leader in order to instigate crisis in the zone, wondering why armed policemen would storm the House at an ungodly hour of 1.45am, if not to kill him.

“The mission of the Nigeria Police that stormed the house of Chief Ralph Uwazuruike leader of

MASSOB at 1.45am, heavily armed was just to assassinate him in order to make the South-East ungovernable, which the Hausa/Fulani-led Nigerian government will use as an excuse to invade the region.

Continuing, he said: “Armed policemen rounded up our members and seized about 17 walkietalkies of those on duty, but no amount of intimidation from the Nigerian authorities can make us abandon the struggle for the actualisation of the Biafra nation.”

Okereafor, who de-

manded the immediate release of their detained members, warned that the Nigeria authorities should not push the movement to the wall.

When contacted, the state Police Commissioner, Mr. Taiwo Lakanu, said the police only arrested five members of the movement, who were protesting and chanting anti-establishment songs and not 50 members as claimed.

The Imo police chief equally denied seizing over 17 walkie-talkies from those arrested, saying that

nothing was seized from the five members that were arrested by his men.

“You know that Uwazuruike and his movement thrive on propaganda. We arrested only five members who were protesting and chanting inciting songs against the Nigerian government, but if he claims that 25 of his members were arrested, I challenge him to mention their names.

And I can also tell you categorically that nothing was seized from those arrested, so their claims were false.”

at Agbani in Nkanu West Local Government Area of Enugu State.

He expressed readiness to partner any organisation, groups or individual that is committed to the empowerment of the youths through manpower training and development in the state.

The governor commended the Chairman of Nkanu West, Hon. Afam Okereke, for establishing the ICT Centre in the council, describing it as a step in the right direction to get the rural populace competent to compete with their colleagues outside the community.

Abandoned Enugu ICC project receives attention Dennis Agbo

News 39

south-east

heavy duty trucks procured by his administration for infrastructural development projects in the state.

He said he was aware of the bulletin released by the state’s labour movement calling for the industrial action and that he cannot stop them from going on strike.

Umahi said: “I saw the bulletin being circulated by labour in the state for strike and I cannot stop them from going on strike.

But I want them to know that we will not implement their demand, we will not do that.

L-R: Dr. Mrs. Dorothy Nwodo and her husband, former Enugu State governor, Dr. Okwesilieze and Enugu State Governor, Ifeanyi Ugwuanyi, during a funeral mass in honour of late Prof. Julius Onah, at the St. Jacob’s Catholic Church, Orba, Udenu L.G.A. of Enugu State...yesterday

Why we immortalised Akunyili, by Obiano Pamela Eboh Awka

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nambra State Governor, Willie Obiano, yesterday gave reasons why he immortalised the late former Minister of Information, Prof. Dora Akunyili.

Obiano, who spoke yesterday at the Women Development Centre, Awka, the Anambra State capital, where he renamed the edifice after the late National Agency for Food and Drug Administration and Control (NAFDAC) directorgeneral, said that was the

only way to immortalise the late minister.

Akunyili died last year after suffering from cancer.

Remembering her in a brief speech titled; “Immortalising Prof. Dora Akunyili,” Governor Obiano described her as a beloved sister, daughter, wife, mother, teacher, moralist, crusader, role model, merchant of hope and angel of light, pointing out that in gathering to immortalise her, Ndi Anambra were simply trying to remind themselves that “the greatest legacy a man or woman can leave is a good name.

“Brothers and sisters,

we are gathered here to affirm the wise saying of our elders that ‘Eziafaka ego’ – A good name is better than gold.”

Obiano further noted that the life and times of Akunyili should serve as a strong call to moral re-armament among Ndi Anambra.

He said: “We finally begin to live when we choose to live in the service of the people; when our lives bring hope, happiness and fulfilment to people around us. Dora reminds us that a life of service to the community is the true life of meaning.”

Recalling some of the finest moments of Akunyili on numerous national assignments, the governor said: “We are familiar with her courage in the face of extreme danger; her unwavering commitment to the cause she believed in even when a bullet peeled off her head gear, her passionate speech at the National Conference while she endured the biting pains of cancer and of course her blunt refusal to be cowed when the struggle for succession that followed the death of President Umar Yar’Adua needed a rallying point,” he added.

Abia health workers suspend strike Nnamani loses wife Igbeaku Orji Umuahia

T

he five months old strike embarked upon by health workers in Abia State under the auspices of the Joint Health Workers Union (JOHESU), has been called off.

The state health workers union embarked on the strike to protest the

non-payment of arrears of their salary.

Chairman of the Nigerian Labour Congress (NLC), Abia State chapter, Comrade Uchenna Obi-Igwe, said in a statement that the suspension was the outcome of the meeting labour had with the state government in which the later promised to remove the disparity in the sector by October 2015.

Charles Onyekwere ENUGU

T

he former governor of Enugu State, Chimaroke Nnamani, yesterday on behalf of the Nwankwo Anike Nnamani family of Amaiyi, Amakpu Agbani in Nkanu West Local Government Area, announced the death of his wife, Nnenna Agnes Nnamani, aged 47.

The late Nnenna died

on September 4 in Orlando, Florida, United States, following complications from sickle cell disease and cerebral aneurysm.

In a statement made available to newsmen in Enugu yesterday by Nnamani's media aide, Mr. Dan Nwomeh, the former governor thanked all and sundry for their support and prayers, saying burial arrangements will announced by family.

40 News

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monday, september 7, 2015 NEW TELEGRAPH

Navy shuts illegal refineries in Rivers

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he Nigerian Navy yesterday said that it had begun mopping up of newly discovered illegal refineries which had the capacity to produce several ``thousand litres of petroleum products daily”.

The Commander, NNS Pathfinder Port Harcourt, Commodore Shuwa Mohammed, represented by Cdr. Chidi Ejiofor, Pathfinder’s Base Operation Officer, made this known in Port Harcourt.

Mohammed stated this, following the base aerial and land surveillance of the newly discovered modular refineries in Rivers State.

According tothe News Agency of Nigeria (NAN), several illegal refineries hidden under tick shed of the Mangrove forest were sighted during the aerial surveillance with the environment polluted.

He said the mop up was aimed at putting an end to colossal damage to the environment by activities of oil thieves, who were puncturing pipelines to obtain crude oil illegally. ``The mop up ordered by the Chief of Naval Staff, Vice Adm Ibok-Ette Ibas, is part of a series of operations lined up to end incessant crude oil theft and pipeline vandalism. ``During our aerial surveillance recently,

several new illegal refineries were sighted with their positions in latitude and longitude obtained prompting troops mobilisation. ``During our operation on Sunday, an illegal refinery with 15 storage metallic tanks loaded with 145,000 litres of stolen crude oil was set ablaze in Buguma, Asari Toru Local Government in Rivers.”

Mohammed said that more than 50,000 litres of illegally refined diesel

ASABA

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andemonium broke out at the Delta State University (DELSU), Abraka, at the weekend, following the allegation of the poisoning of a female student by one Bassey Aniakan, who is also a student of the institution.

The suspect, is however, said to have been arrested and taken into the custody of the State Police Command for attempting to kill his colleague.

The victim, a 17 year old student was said to

BENIN

T

he leadership of the African Bar Association (AfBA) yesterday warned the senate against the probe of the anti-corruption agency, the Economic and Finan-

tion alone.

According to him, there are about 33,000 creeks in the Niger Delta of which NNS Pathfinder is saddled with responsibility for more than 1,000 of the creeks and waterways,” he said.

The navy chief said in spite of the challenges, the mop up operation would continue until all newly discovered illegal refineries were completely destroyed and their operators arrested and prosecuted.

have fallen into convulsion after eating the cake given to her by Aniakan and was consequently rushed to a nearby hospital where it was discovered she was poisoned.

It took the spirited effort of her colleagues and the police in the university town before the victim was resuscitated.

The Police Public Relations Officer, DSP Celestina Kalu, who confirmed the incident yesterday, said men of the men of the command at the police station in Abraka, rushed to the scene and arrested the said Aniakan.

Bayelsa PDP seeks removal of chairman Chris Ejim yenagoa

S

ome members of the Bayelsa State Peoples Democratic Party (PDP) yesterday threatened to dump the party unless the acting Chairman of the party Chief Serena Spiff-Dokubo, is removed from office before the party's primary election.

The leaders who have formed a splinter group, the PDP Unity Group (PUG), were said to have insisted that Dokubo, was not qualified to hold the position.

Many stalwarts of the party, former political of-

African lawyers’ body warns Senate against EFCC probe Cajetan Mmuta

fered us a bribe of N600, 000 to leave the refinery. ``The four suspects were subsequently arrested and would be handed over to the Nigerian Security and Civil Defence Corps (NSCDC) for investigation and prosecution,” he said.

Mohammed said despite the renewed efforts by the naval high command to stop oil theft, the government should also embark on sensitisation of Nigerians to end oil theft rather than destruc-

L-R: Ogbueshi Jiduche Onyia; Parish Priest, St. Patrick Catholic Church, Cable Point, Asaba, Rev. Fr. Cajetan Metu and Ezinne Veronica Okolo, during Ezinne Okolo’s 80th birthday thanksgiving in Asaba, Delta State…yesterday.

Crisis rocks Delta varsity over alleged poison of female student Dominic Adewole

stored in 10 cooking tanks were also destroyed.

He said that a metallic badge and dump which had capacity to store thousands of petroleum products was also destroyed during the raid.

Mohammed said that operators of the illegal refinery who numbered well over 20 fled the scene on sighting advancing navy troops. ``Ironically, while setting the refinery ablaze, four out of the fleeing oil thieves came back and of-

cial Crimes Commission (EFCC), and other Federal Government agencies.

Also, the body has commended the President of the Nigerian Bar Association (NBA), Augustine Alegeh, SAN, for the success of the its recently concluded 55th annual general conference held in Abuja.

It declared that “while the Nigeria senate has the constitutional right to perform its oversight functions to ensure that various national agencies carry out their responsibilities constitutionally and in the very best interest of the citizenry, it has no constitutional power to try such

fice holders and the party's state Chairman, Col. Sam Inokoba (rtd) had earlier dumped the party for the All Progressives Congress (APC).

The PUG is an antiGovernor Seriake Dickson's group comprising mainly of governor's former aides who were controversially sacked and other party leaders not disposed to the governor's second term bid.

It was gathered that a meeting organized recently in Government House, Yenagoa, to resolve the crisis between the PUG and Dickson ended in a deadlock.

Members of the PUG led by its Coordinator, organs in the media.”

The AfBA director of media, Samuel Abasilim, in a statement made available to newsmen in Benin, the Edo State capital pointed out that any allegation of crime against the EFCC or any of its official should have been reported to the police, which has the constitutional responsibility to investigate such criminal acts.

Mrs. Marie Ebikake, were said to have rebuffed all entreaties from Dickson to them, to sheathe their sword.

Ebikake and her group were said to have argued that Dokubo, hails from a different zone (Bayelsa East) from the former chairman’s, Inokoba, (Bayelsa Central) contrary to the provisions of the party's constitution.

Besides they were said to have pointed out that Dokubo, despite parading himself as the acting chairman was also an employee in the state's judicial service commission against the provisions of the party law.

Signs that the meeting ended in fiasco emerged yesterday following the decision of the group to send a petition to the Acting National Chairman of PDP demanding immediate removal of Spiff-Dokubo.

Copies of the letter signed by Ebikake and the group's Secretary, Bokolo Bonsome, were sent to the Acting Chairman of PDP's Board of Trustees and the party's SouthSouth Vice-Chairman.

Sacked Delta workers call off strike Dominic Adewole ASABA

S

acked Delta State workers who embarked on protest to force their re-absorption by the government called off the strike at the weekend.

The workers who embarked on the strike tagged ‘Operation Bring Back Our Jobs’ and were relieved of the jobs, following the assumption of office of Governor Ifeanyi Okowa, said they adopted the approach to assist the current government staff verification exercise in the state to fish out workers allegedly fraudulently employed by the state’s Civil Service Commission (CSC).

The victims, under the aegis of the Association of Newly Employed Civil Servants, were also said to have also taken the step to assist government to identify the state of origin of those affected by the suspension order.

This was against the backdrop of the allegation that non-indigenes from the Eastern part of the country and neighbouring Edo State, hijacked the workers recruitment exercise with money.

Urhobo youths want Omene as petroleum minister Gabriel Choba Ughelli

A

group known as the Urhobo Youths Consultative Forum (UYCF) in Delta State has urged President Muhammadu Buhari to appoint Mr. Ogheneovo Imoyi Omene as Petroleum Minister.

They made this assertion recently during a rally held in the Niger Delta region, demanding that Nigerians of Urhobo extraction should be appointed into prominent positions in the Buhari’s administration.

Speaking on behalf of the group, National President, Comrade Achoja Blessing and the Secretary, Comrade Bernard drummed support for Omene, to emerge the minister.

The youth leaders noted that Omene, has over the year’s demonstrated supports and leadership by contributing his quota to the advancement of not only the Urhobo nation but also to the Nigerian state.

NEW TELEGRAPH monday, september 7, 2015

Taraba gov commended on leadership style Sabiu Mustapha JALINGO

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araba State Governor, Darius Dickson Ishaku, has been commended by the people of the state over the leadership style he exhibited in his first 100 days in office.

Ishaku marked his 100 days in office at the weekend, an event, which attracted hundreds of wellwishers from all parts of the state and the neighbouring states of Benue, Plateau as well as Kaduna State.

Hon. Abel Diah, the Speaker of the state House of Assembly, Senator Emmanuel Bwacha, a senator representing the state's southern senatorial district and his counterpart in the central senatorial district, Bashir Marafa, the state PDP Chairman, Victor Bala Kona as well as Senator Joel Ikenya, the immediate past Labour Minister, in their separate speeches at the event, threw their weight behind the governor.

“I'm very happy and positive that your body language speaks development, and we in the House of Assembly will ensure that we make laws that will bring development to Taraba State,” the speaker said.

In his address, Governor Ishaku, who enumerated some of his achievements within his first 100 days, thanked the people of the state for their support and the confidence reposed in him.

Bauchi discovers its aircraft in Morocco 2nd LEAD Bauchi State Government says it has discovered an aircraft belonging to the state which is hidden in Morocco.

The Governor of Bauchi State, Mohammed Abubakar made this known on Saturday night in Bauchi in a broadcast marking 100 days of his administration.

He said that the recovered aircraft would be received by the state government in few days

MAKURDI

T

he political marriage between the former Attorney General of the Federation and Minister of Justice, Chief Michael Aondoakaa and immediate past governor of Benue State, Gabriel Suswam, has been punctured with a group, Benue Integrity Watch (BIW), warning the former to steer clear of unwarranted attacks against the latter.

President of BIW, Mr. Terlumun Gwaza, at a news briefing in Makurdi at the weekend, expressed sadness over what he called unwarranted media attacks on the former governor bothering on Suswam’s recent meeting with Governor Ortom, whose mission he said was to plead for clemency in the ongoing probe of his administration.

Aondoakaa, it was reported had thrown his weight behind Ortom's

at the Abubakar Tafawa Balewa International Airport, Bauchi.

The governor said that the aircraft was recovered by a committee set up by the government and headed by Air Commodore Ahmed TijjaniBaba (Rtd).

“The committee will now beam its satellite on the ministry for local affairs and the State Basic Education Board to see how billions of naira allocated to them were

spent.

“Such examples are the N2 billion micro loans and others that were allocated them, but carelessly spent leaving our pupils to study under the trees,” he said.

Abubakar assured that the state government would soon embark on the construction and reconstruction of some rural feeder roads to ease transportation problems.

He said that the

government had refurbished five trucks belonging to the State Fire Service as part of safety measures.

Abubakar said that 420 youths had been engaged as street cleaners by the government under its youth employment scheme to curb youth restiveness.

He said that water supply, especially within Bauchi metropolis, had improved following special interventions such regular payment of electricity bills and upgrade of electricity gadgets at Gubi Dam. The Governor called on the people of the state to support his administration to enable it serve them. (NAN)

L-R: Deputy Speaker; Plateau State House of Assembly, Hon. Yusuf Gagdi; Speaker, Hon. Peter Azi and Plateau State Governor, Simon Lalong, during their visit to the state House of Assembly Complex, for an inspection of the chamber's facilities in Jos.

PHOTO: NAN

Aondoakaa warned against attack on Suswam Cephas Iorhemen

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north

ongoing probe and also vowed to put all spanners in the works to ensure that the governor comes out victorious at the tribunal.

But Gwaza in a swift reaction, expressed shock at the former minister’s comments, considering his background as a lawyer who is not supposed to pre-empt the outcome of a probe panel by presupposing that Suswam was going to be indicted.

ABUJA

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he Middle Belt Progressive Assembly (MBPA) yesterday accused the Independent National Electoral Commission (INEC) of unnecessary interference in the affairs of the Inter-Party Advisory Council (IPAC) which has resulted in the cur-

Abubakari Abdul Birnin Kebbi

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t least eight people were reported to have been electrocuted at the weekend in Arugungu, Kebbi State, following a downpour in the area.

The people were said to have died when electric poles collapsed and fell on two residential buildings after a heavy rainfall, which resulted in their death.

This incident plunged Arugungu, known for its famous fishing festival, into mourning throughout the period.

This tragic incident prompted Kaduna Electricity Distribution Company (KEDC) to visit the ancient town to commiserate with the Emir and the people of the town.

The visit, which was led by the Chairman of the company, Alhaji Hamisu Yusuf, saw the company paying homage to the Emir to condole with him over the tragic loss.

Addressing the visitors, the Emir of Arugungu, Alhaji Ismail Muhammed Mera, said the incident was due to the downpour recorded in the town and the windstorm that followed.

Sule cautions leaders against vengeance and witch hunt Muhammad Kabir

Group absolves Ogbeh, council boss F of alleged N68m scam

Kano

Cephas Iorhemen MAKURDI

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group under the auspices of Concerned Ogbadibo Indigenes yesterday exonerated a chieftain of the All Progressives Congress, Chief Audu Ogbeh and the Chairman of Ogbadibo Local Government Area, Mr. Paul Adoyi, of alleged N68 million scam

in the council.

The duo have been accused by top politicians in the local government of allegedly inflating the monthly wage bill of the council from N52 million to N68 million between May and June and cornering the difference of N16 million meant to fast-track development in the area.

But addressing journalists in Makurdi at the weekend, spokesman of

IPAC: Middle Belt group accuses INEC of interference Obinna Odoh

Eight electrocuted in Kebbi

rent leadership crisis in the council.

Co- ordinator of MBPA, Mr Pam Dung alleged that the Acting Chairman of INEC, Hajia Amina Zakari was responsible for crisis in the council because she took sides with the factional leadership of IPAC led

by Alhaji Bashir Yusuf Ibrahim of the Peoples Democratic Movement (PDM), against the popu-

lar wishes of the majority of members as reflected during the bye-election, where the National chairman of Peoples Progressive Alliance, PPA, Chief Peter emerged winner.

According to Dung, Ameh was elected by 16 political parties and was subsequently inaugurated by the then outgoing chairman, Dr. Yunusa Tanko, as required by the IPAC constitution.

the group, Mr. Daniel Apeh, exonerated the duo of their culpability in the deal, describing the allegation as a calculated attempt by the 'faceless group' to cast aspersions at them in some sections of the media.

He said: “The faceless group alleged through the social media that Ogbeh and Adoyi inflated the monthly wage bill of Ogbadibo Council from N52 million to N68 million. Though, we are not speaking for them, but we vouch for the integrity and character of these eminent indigenes of the local government.

“Chief Ogbeh as one time Deputy Speaker of the Benue State House of Assembly, Minister of the Federal Republic, and a former National Chairman of the Peoples Democratic Party (PDP), would not stoop low to inflate the salary or wage bill of a local government that he is not involved in its running,” said Apeh.

ormer Permanent Representative to United Nations, Yusuf Maitama Sule, has told Nigerian leaders to be wary of vengeance and Witch hunt of their followers.

Maitama Sule, who spoke in Kano yesterday during Governor Abdullahi Umar Ganduje’s 100th day anniversary, noted that leaders do succeed if they are just and fair, even if they are infidels but fail if they are cheats but believers.

He said the expectations on the new governments at all levels are high. Therefore, they should strive to justify the confidence reposed on them.

The former ambassador further explained that today, Nigerians are full of hopes that the last man standing is the leader. He said that therefore, other government institutes should up and doing in making sure that they have not fail the nation.

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WORLD | News

We shall meet Nigerians' expectations, says Osinbajo Sola Adeyemo Ibadan

V

ice President, Professor Yemi Osinbajo, yesterday stressed the commitment of the administration of President Muhammadu Buhari to meet the expectations of the Nigerian masses. He disclosed that he knew that the masses have high expectations of the All Progressives Congress regime.

Osinbajo gave the as-

surance yesterday in Ibadan, Oyo State capital, during a brief chat he had with journalists shortly after attending the grand finale of a week- long 33rd "Holy Ghost "Convention of The Christ Life Church (a.k.a "The Sword of the Spirit Ministries) held at Gbagi area of the state capital. His words, "Yes, the nation has high expectations of our regime.

By the grace of God, we shall meet the expectations. Things are getting better every day and I

promise Nigerians more exciting time ahead. "If you heard the President's speech, you would know that we are tackling such issues including power sector, roads, infrastructure generally and other issues". He had earlier told the congregation at the event that Nigerians should continue to pray for the regime, assuring them that he and the President would not abdicate the responsibility of ruling the nation which God has saddled them with.

Stop blackmailing SON, manufacturer tells counterfeiters

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former lawmaker and an industrialist, Hon Nosike Okoye, have expressed outrage at what they called “the devilish attempt of an Onitshabased company to set manufacturers in the South-east against the Standards Organisation of Nigeria (SON).”

Okoye, who was reacting on behalf of other manufacturers to the recent demonstration at the SON office in Awka, Anambra State, in which hundreds of protesters carried placards accusing SON officers of making things difficult in the

procurement of MANCAP certificate.

The ex-lawmaker, in a chat with journalists in his Nnewi office, at the weekend, dismissed the alleged SON threat to local industry as false.

Penultimate weekend ,some leading manufacturers of shaving sticks in the country called on the Federal Government to deal decisively with a notorious faker of their products, stating that the good images they built over decades risk being ruined if efforts are not made, and fast, to save them from the ravaging scammer.

According to Hon

Okoye, “the MINFOW formula includes persistent raids on substandard products to create space where standard products can sell; it also includes free certification for thousands of SMEs yearly and the refurbishment and progressive accreditation of labs to ensure that the integrity and global acceptability of Nigeria’s products are guaranteed.”

Tackling the allegation of demand for bribes, Okoye said that it should be taken with a pinch of salt considering his pleasant experience and that of several people with SON.

Babatope, Balarabe urge EFCC, governors to be fair, just Temitope Ogunbanke

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he governor of old Kaduna State, Alhaji Balarabe Musa; former Minister of Transportation, Chief Ebenezer Babatope and National Chairman of the United Progressive Party (UPP), Chief Chekwas Okorie, have advised anti-corruption agencies and governors to be fair and just in the ongoing probe of former governors.

Speaking to New Telegraph in separate telephone interviews,

Babatope, Balarabe and Okorie also warned governors against witchhunting their predecessors with probe.

It would be recalled that the Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and Other Related Offences Commission (ICPC) and Commission of Inquiry set up by some state governors are presently probing former governors over corruption related issues and abuse of office.

Babatope, a member of the Board of Trustees of

the Peoples Democratic Party (PDP), said the anti-graft agencies must not cast aspersion on the integrity of people who have done very well in office.

His words: “There is nothing bad in governors probing their predecessors but they must be very fair and just with such probes and come out with facts and not fictions. If any of the governors’ attempt to witch-hunt their predecessor with any probe, they are going to meet their waterloo.

Akpabio disowns twitter, Facebook accounts

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he Senate Minority Leader, Godswill Akpabio, has disowned twitter and Facebook accounts opened on his behalf. He advised those who are doing so to desist from such, as he has not authorized or cause to be opened any Facebook or Twitter account on his behalf.

He also charged Nigerians, particularly the political class, to desist from

politicizing disasters and tragedies, but work towards the unity and progress of the country without any political or ethnic coloration.

Akpabio, who stated this in a statement he personally signed, thanked God for his survival and said he remained grateful to Nigerians for their prayers and display of concern.

The former governor

specifically thank President Mohamadu Buhari, Vice President Yemi Osinbajo, senate president, Bukola Saraki, Speaker of the House of Representatives, Hon Dogara, his successor, Mr Udom Emmanuel, his colleagues in the National Assembly and former president Goodluck Jonathan for their concern and expression of love when the accident occurred.

MONDAY, SEPTEMBER 7, 2015 NEW TELEGRAPH

Pope calls on European parishes to host one refugee family

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ope Francis called yesterday on every European church parish and religious community to take in one refugee family in a gesture of solidarity, which he said would start in the tiny Vatican state where he lives. "I appeal to the parishes, the religious communities, the monasteries and sanctuaries of all Europe to take in one family of refugees," he said after his Sunday address in the papal enclave.

The pope's call goes out to tens of thousands

of Catholic parishes in Europe as the number of refugees and migrants arriving over land through the Balkans and across the Mediterranean to Italy and Greece hits record levels. There are more than 25,000 parishes in Italy alone, and more than 12,000 in Germany, where many of the Syrians fleeing civil war and people trying to escape poverty and hardship in other countries say they want to end up. The crowd in St. Peter's Square applauded as the pontiff said: "Every parish, every religious community, every

monastery, every sanctuary of Europe, take in one family."

In a separate message yesterday, the pope, himself the grandson of Italian emigrants to Argentina, made an apparent criticism of a wall Hungary is building at the EU's border. "It is violence to build walls and barriers to stop those who look for a place of peace. It is violence to push back those who flee inhuman conditions in the hope of a better future," he said in a letter to a Church association meeting in Albania.

Arab Israeli students holding placards as they demand more funds for Christian schools during a demonstration in Jerusalem, yesterday.

Israeli Christians protest state funding cuts

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housands of people rallied yesterday in Jerusalem to demand more funds for Christian schools which they say receive a third of what the Israeli government allocates to Jewish ones. Israel's 47 Christian schools have been on strike since the academic year started last week, with parents and school officials accusing the government of discrimination in funding their establishments.

Schools officials said the strike will end

only when the authorities in the Jewish state meet their demands. The strike affects 33,000 pupils 60 percent of them Christian and the others Muslim as well as 3,000 staff.

"If you care, then be fair," said one of the signs held up at the protest outside Prime Minister Benjamin Netanyahu's office which was attended by students in uniforms, parents and school officials. "We pay our taxes and therefore we must have the same rights as everyone," said Manal Issa, a mother

who came with her two children. Abdel Massih Fahim, a Franciscan priest and director of the Catholic church's Custody of the Holy Land which oversees the Christian schools, said state funds only cover 29 percent of costs. But Wadie Abunassar, another school official, said Jewish schools recognised by the state but not considered official public schools receive funds that cover 100 percent of their needs. "We demand equal treatment," said Abunassar.

Swaziland celebrates 47th independence

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s Swaziland celebrates its 47th independence anniversary yesterday, Africa's last absolute monarchy is still grappling with basic freedoms, a rights group said.

The southern African nation of Swaziland gained independence from Britain on Sept. 6 1968. Today it is ruled by King Mswati III, who inherited the throne in 1986 and enjoys broad authority, including appointing the prime min-

ister and his Cabinet, according to a government website. The country holds regular parliamentary elections.

"It is ironic that as Swaziland celebrates 47 years of independence from Britain today, it continues to use legislation to shut down dissenting voices used by the colonial regime for the same purpose," Deprose Muchena, Amnesty International's southern Africa direc-

tor, said in a statement.

Political activists campaigning for increased freedoms and decentralized power have been detained under these laws, Amnesty said. Human rights lawyer Thulani Maseko and journalist Bheki Makhubu spent more than one year in prison after being convicted of contempt of court for publishing articles scrutinizing threats to judicial independence.

NEW TELEGRAPH MONDAY, SEPTEMBER 7, 2015

Sport News

International Sport

44

Eagles consider Cameroon friendly in Europe

US Open

Messi needs Ronaldo, says Kluivert

Isner targets Federer’s scalp

AFCON Round up

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Sport

Adekunle Salami, DAR ES SALAAM

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fter a lacklustre the goalless draw Nigeria recorded against Tanzania on Saturday in Dar es Salaam, the Super Eagles have vowed to bounce back stronger in subsequent Africa Nations Cup qualifier games.

Stand-in captain, Ahmed Musa, said the goalless draw was not a bad result since many of the players were new to the team.

“We gave our best to win the match but somehow that did not happen but I am very hopeful that we are going to do better and win other games,” he said.

Defender Kenneth Omeruo said it was too early to talk about winning or losing a ticket after only second round of matches.

“This is a new team and also a new coach. We are going to work hard to win the ticket to the next AFCON,” he said.

Emmanuel Emenike also stated that picking four points from two games was not bad for the Eagles “The draw against Tanzania will make us to go all out in the remaining games. I am optimistic of our chances of making it to the Nations Cup in Gabon,” the striker said.

Head Coach, Sunday Oliseh, was full of praises for his players despite the draw recorded on Saturday.

“It was not easy and we expected that. I am okay with the draw and I am also positive that the team will be better in other games,” Oliseh said.

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Egypt wallop Chad to top Group G

Did you know?

That Japanese Kimiko Date-Krumn, at the age of 44, is the oldest woman in professional tennis. She retired back in 1996 only to come back in 2008.

Super Eagles vow to bounce back

• Say: “AFCON ticket still in our hands”

Nigeria’s William TroostEkong and Solomon Kwambe vying with an unindenfied Tanzanian player

AfroBasket: D’ Tigers camp unhappy with reception The Sport Team Adekunle Salami Group Sport Editor

Emmanuel Tobi Assistant Sport Editor

Ifeanyi Ibeh Sport Correspondent

Ajibade Olusesan Sport Correspondent

Charles Ogundiya Sport Correspondent

© Daily Telegraph Publishing Company Limited

Adeolu Johnson ABUJA

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he camp of the Nigerian basketball team is still fuming following the cold reception accorded the team in spite of its triumph at the just concluded AfroBasket Championship in Rades, Tunisia.

Top officials of the team felt sad that the big boys who did the country proud in Rades were not accorded any respect in spite of the record-breaking achievement. Nigeria had never won the championship since its inception in 1972.

The National Sports Commission (NSC) only paid a paltry sum of $1000 and daily allowance of $100 each for the

players.

The officials were left seething especially when they considered what the country pays professional footballers who don the country’s colours in international competitions Nigeria defeated all erstwhile nemesis, Angola 74 – 65, to win the 2015 African Basketball Nations Cup. Nigeria had never beaten Angola in nine meetings dating back to 1987.

Although the players who are top professionals around the world did not seem to bother, close watches of the situation felt the reception from the NSC was shabby judging by what the national football team, the Super Eagles receive as match bonus and allowances

The Eagles got over $60, 000 each as match bonuses for winning the 2013 Nations Cup and more than $50, 000 each as gifts from governors and corporate organisations.

A member of the Nigeria Basket Federation (NBBF), Patrick Omorodion, who was with the team throughout their campaign in Tunisia offered a glimpse of the chemistry in the Nigerian team.

“The players were driven by patriotism, discipline, commitment and hunger for success,” Omorodion said, adding, “never had we seen such display of uncommon unity and a collective sense of mission by the team.”

President Muhammadu

Buhari had congratulated D’Tigers on their victory over Angola in the FIBA Africa Basketball Championship in Tunisia. But that was not what the players were expecting.

Before the final they had been told that should they win the tournament. The country’s Vice President Yemi Osinbajo had spoken to the players before the final.

“The players were overjoyed when news about the presidential reception filtered into the camp as some of them had never been to Nigeria before. More than anything, some craved that meeting because they wanted to meet with Nigeria’s number one citizen and shake his hand,” Omorodion said.

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MONDAY, SEPTEMBER 7, 2015 NEW TELEGRAPH

Eagles consider Cameroon friendly in Europe

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igeria have proposed a friendly against the Indomitable Lions of Cameroon next month in Europe as coach Sunday Oliseh steps up rebuilding the Super Eagles.

Eagles recorded a disappointing draw in Tanzania in a 2017 AFCON qualifier at the weekend in Oliseh’s first game in charge.

And a top official has now informed AfricanFootball.

com that the Nigeria Football Federation (NFF) now working on the team to play a friendly against Cameroon in Europe early next month.

There are two FIFA friendly windows left for this year – 5 to 13 October and 9 to 17 November.

“The NFF’s looking at getting the Eagles to face Cameroon in a friendly early next month and the game will most likely be played in

Europe,” the official told AfricanFootball.com Both countries have clashed a total of 19 times since April 1960.

Nigeria have won eight times and drawn seven times, while Cameroon were victorious on four occasions.

Their last meeting was at the 2004 AFCON in Tunisia, where the Eagles topped the Indomitable Lions 2-1 to qualify for the semi-finals of the tournament.

Martins continues goal scoring spree in MLS

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Martins

igeria striker Obafemi Martins continued with his goal-scoring exploits for MLS side Seattle Sounders as he scored in a 2-1 win over Toronto FC at the weekend.

The former Inter Milan striker has scored 11 goals in 15 games for Seattle this season, he is now seven goals shy of MLS leading scorer Kamara.

Oba’ hit target in the sixth minute to give his team 1-0 lead.

He connected Clint Dempsey’s lofted pass above the Toronto defence as he sped to it and finished.

This is the first time both strikers are playing together again since June 16.

Fittingly, Dempsey scored the winner for Sounders in the 77th minute.

Seattle Sounders are now third on the MLS Western conference table with 41 points from 28 games.

Carl Ikeme in action for Super Eagles on Saturday

Golden Eaglets lose 3-2 to World Cup rivals Croatia

Niger friendly to gulp $300,000

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igeria will splash at least $300,000 for Tuesday’s friendly against next-door neigbours Niger, a top official has revealed.

This budget will include an appearance fee of $150,000 to the visiting Mena of Niger as well as their local transportation

and boarding while in Nigeria for the game.

The Eagles will each be paid $2,000 as appearance fee with coach Sunday Oliseh pocketing double that amount.

It is hoped that hosts Rivers State Government will defray part of these

expenses.

Tuesday’s match will be played at the Adokiye Amiesimaka Stadium in Port Harcourt.

Niger, who failed to qualify for Equatorial Guinea 2015, are fresh from a 2-0 defeat in Burundi in an AFCON qualifier.

• As Falcons thrash Congo 4-1 in AAG

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NPL: Enyimba, Sunshine suffer defeats

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igeria Premier League leaders Enyimba and Sunshine Stars slipped in their chase for the title after they lost at Giwa FC and Shooting Stars, respectively, on Sunday.

Giwa kept intact their unbeaten run in the league against Enyimba when they

won 1-0 in Jos and Shooting Stars edged past Sunshine Stars 2-1 in a southwest derby.

However, Enyimba remained on top of the standings with 52 points from 28 games, four points clear of Warri Wolves, who toppled Sunshine Stars from second spot.

Giwa have 46 points from

Ajibade Olusesan

28 games to move nearer the front runners.

The only goal of the game was a 74th minute penalty which was converted by Giwa captain Charles Henlong after Enyimba defender Emmanuel Anyanwu handled the ball inside the 18-yard box.

ational U-17 team, Golden Eaglets, lost their last match in the Suwon International Cup on Sunday. The team was beaten 3-2 by Croatia.

The Nigerians who had beaten Brazil 2-1 four days ago could not build on that momentum and they went down to the Europeans who are also going to FIFA U-17 World Cup slated for next month in Chile.

Incidentally, both Nigeria and Croatia will clash again at the tournament.

The Eaglets finished on four points having drawn

the first match 1-1 with hosts South Korea and defeated Brazil.

Brazil have three points, while Korea are on two points.

The Eaglets who are the reigning world champions will train in Argentina for the World Cup in Chile.

Meanwhile, Nigeria started on a bright note in the women football event of the All Africa Games as Super Falcons defeated the hosts 4-1 in their opening match on Sunday.

The Nigerian raced to a 3-0 lead in the first half and added another goal in the second half.

Port Harcourt teams win ARS 5 Emmanuel Tobi

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ort Harcourt male and female teams have emerged champions of the fifth edition of Airtel Rising Stars U-17 football tournament after an exciting final at the Sports Complex of Yaba College of Technology, Lagos.

The male team defeated their Lagos counterparts 3-1 on penalties after playing goalless at full time while the feAirtel CEO, Mr. Segun Ogunsanya, with Port Harcourt female team who emerged winner of ARS 5 national male team outclassed finals Abuja girls 2-0 to lift the

trophy.

Team Lagos won the third place in the female category while Abuja won the third place for the male category.

Managing Director and Chief Executive Officer of Airtel Nigeria, Mr. Segun Ogunsanya, while presenting the medals and trophies to the teams said, “Airtel wants to be an integral part of local communities, and our association with football has strong elements of creating positive change and engagement. ARS

is our contribution to building and developing grass roots football in Nigeria,” he said.

Sport icons such as Segun Odegbami, Larry Izamoje graced the final which also had in attendance ex-Super Eagles players such as Garba Lawal, Mutiu Adepoju, Anne Chiejine, Etim Esin, Victor Agali, and Jonathan Akpoborie.

Also popular Nigerian entertainment celebrities like Tuface Idibia, Phyno, Apororo were around to give their support to the players.

International Sport 45

NEW TELEGRAPH MONDAY, SEPTEMBER 7, 2015

Walcott: England can win Euro 2016

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Messi (second left) in action

Messi needs Ronaldo, says Kluivert

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arcelona icon Patrick Kluivert believes Lionel Messi “needs” a rival like Cristiano Ronaldo to bring the best out of him.

The Argentine has rocketed back to his best form in 2015, winning the Champions League, La Liga and Copa del Rey in a euphoric season at Camp Nou. Messi’s performances

have seen him installed as heavy favourite to win January’s Ballon d’Or, which Real Madrid’s Ronaldo has won the previous two years.

Their status as the two best players in the world playing for Spanish archrivals has elevated their rivalry – something that former Barca forward Kluivert thinks has been essential for Messi’s successes.

“Messi is in a different dimension with his football, but I also think he urgently needs someone like Cristiano Ronaldo,” the 39-year-old told Voetbal Zone.

“He needs someone who gives him an incentive to go for it every game, to see each match as a challenge. Both players are world class and a level above the rest.”

heo Walcott sees no why England cannot win Euro 2016 next summer after becoming the first team to qualify for the competition on Saturday.

A routine 6-0 win over San Marino secured Roy Hodgson’s side place in France, with the Arsenal forward scoring twice inside 10 minutes of his introduction as a secondhalf substitute.

England have failed to reach a semi-final of a major tournament since Euro 1996 and suffered their worst ever showing at a World Cup two years ago, but Walcott has faith in the current crop of players.

“I think this team is getting better and better, and that’s what we want to do going into the tournament next year,” he told reporters. “We’ve gone a long way towards

that, so I am sure things are going to improve.

“There are big tests for us, but I believe in that dressing room. We

Walcott (right)

Drogba scores hat-trick in first Montreal Impact start

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‘Arsenal will be lucky to finish fourth’

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rsenal will be lucky to finish fourth in the Premier League, according to British rap artist Lethal Bizzle, who thinks Arsene Wenger is on borrowed time at the Emirates Stadium.

Aside from poaching goalkeeper Petr Cech from rivals Chelsea early in the summer, Arsenal fans had relatively little to get excited about in this summer’s transfer

window as deadline day passed by with a whimper.

The transfer inactivity has riled famous diehard Gunners fan Bizzle - real name Maxwell Ansah who is concerned that last year’s third-placed team will be nowhere near the top of the table in 2015-16.

“I don’t know what Wenger’s playing at, he’s very stubborn,” the grime musician told talkSPORT. “I just think if we really

want to challenge for the title he needs to pull his finger out and adapt to the whole wage system.

“If we want something quality, we’re going to have to pay £30 million, £40m or £50m to get a top player in.

I think he’s so stuck in his ways and he’s so reluctant to do that. Until we manage to do that, we’re way off the title, Chelsea are the champions and they’ve strengthened.”

Hamilton Italian Grand Prix win under scrutiny

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Hamilton

ewis Hamilton led the Italian GP from lights to flag at Monza on Sunday, although Mercedes has been summoned by race stewards to answer why his car’s tyre pressures were too low.

The world champion took the chequered flag 24s ahead of Sebastian Vettel, with Felipe Massa completing the podium places after Hamilton’s team-mate Nico Rosberg suffered an engine failure with

just two laps to go.

His late retirement enabled Hamilton to extend his title lead to 53 points although, with disqualification a possibility, that could change depending on what the stewards decide.

“We don’t understand it to be honest,” Mercedes technical director Paddy Lowe told Sky Sports F1 immediately after the race. “We’ve been summoned to the stewards, so we’ll go there and explain it.”

Euro 2016: Germany expect Scotland to attack

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ermany coach Joachim Low expects Scotland to adopt an attacking approach to their Euro 2016 qualifier as they bid to salvage their hopes of reaching Euro 2016 next year.

A 3-1 victory over Poland sent Germany top of Group D on Friday, while Scotland’s chances were hit by a 1-0 defeat in Georgia.

And Low - whose side would qualify with a win in Glasgow coupled with a defeat for Republic of Ireland at home to Georgia - believes Gordon Strachan’s men will be smarting as they prepare to welcome the world champions to Hampden Park on Monday.

“Scotland lost to Georgia and so at home, if they want to have a chance of qualify-

ing, they must invest a bit more in attack,” he said.

“So we don’t expect to have such a defensive opponent as with Poland.”

Scotland dropped to fourth thanks to their slip-up in Georgia, leaving them with an uphill struggle to force their way into one of the two automatic qualifying berths with three games to go.

are playing in the best league in the world, we’re improving every day, the players are playing at the top of their game.”

Drogba

idier Drogba scored a hattrick in his first start for Montreal Impact in a 4-3 win over Chicago Fire on Sunday.

Drogba signed with the Impact in late July after leaving Chelsea but was not deemed fit enough to play until August 22 and then, after a debut as a substitute, was sidelined due to a toe injury. In the interim, Montreal lost the Canadian Championship Final to Vancouver and then to Toronto FC in the league, costing coach Frank Klopas his job.

But in his first start, Drogba’s full debut proved to be worth the wait as he delivered a crucial three points for the home side.

Drogba opened the scoring in the 27th minute, collecting a cross from Nigel Reo-Coker before holding off Eric Gehrig in the area to turn and deliver a finish into the corner and open his MLS account.

I won’t accept being benched for Brazil –Neymar

N

eymar has warned he will not accept being benched after he was left out of Brazil’s starting line-up in Saturday’s victory over Costa Rica.

The Barcelona forward, 23, has only recently recovered from a bout of mumps and is reported to have limped off during training with his compatriots on Thursday.

These factors may well have played into Dunga’s thinking when the Selecao coach restricted him to a 10-minute cameo in the 1-0 triumph over the World Cup 2014 quarter-finalists, courtesy of Hulk’s early effort.

But Neymar – who is banned from the next two competitive games for his country due to his red card after the full-time whistle against Colombia in this year’s Copa America – is re-

fusing to accept his unorthodox status as a Brazil benchwarmer.

“Being benched is not something I’m used to and I’m not willing to get used to it,” he told ESPN Brasil. “I want to play and I’m always working to be amongst the starting XI.”

Neymar

46

Sport

Murray: Extra rest helped me beat Bellucci

A

ndy Murray has thanked the US Open organisers for delaying the start of his third-round match against Thomaz Bellucci.

The world number three defeated the Brazilian in straight sets despite suffering from a cold before the match.

“I just asked if I could play slightly later rather than first or second,” Murray told reporters.

“Today (Sunday morning) I

felt much better. I slept during the day yesterday two or three times. Today I got up, and I slept again before coming out to the courts. I felt much, much better.

My voice feels like normal again.

“It’s still dull obviously, but it feels more normal today and not blocked up or anything any more, which is good.”

Murray will face Kevin Anderson in the fourth round.

US OPEN

MONDAY, SEPTEMBER 7, 2015 NEW TELEGRAPH

Isner targets Federer’s scalp

J

ohn Isner believes playing aggressively will be key to his chances of beating Roger Federer in the fourth round of the US Open.

The American has yet to drop a set at Flushing Meadows but will face by far his toughest opponent so far in the tournament when he meets the second seed on Monday.

However, Isner has defeated Federer in the past, getting the better of him in four sets as the USA beat Switzerland in the Davis Cup in 2012. The 30-yearold knows he faces an uphill battle against the veteran but believes playing aggressively will give him the best chance of reaching the quarter-finals.

“I’m going to go out there and roll the dice,” said Is-

Federer

ner. “That was the best win of my career and one of the best matches I’ve ever played, hands down. “I played ex-

tremely well that day and I needed to beat him. I’m going to need to do that again on Monday.”

Injury leaves Bouchard in fitness fight

C Bouchard

anada’s Eug enie Bouchard suffered a head injury when she slipped and fell in the US Open locker room, forcing her out of women’s and mixed doubles and jeopardizing her fourth-round singles match.

The 21-year-old from Montreal sustained the injury late Friday and she agreed with medical staff advice to withdraw from two doubles matches set for her on Saturday.

“The severity of the injury was and continues to be assessed by the on-site medical

personnel at the US Open,” US Open tournament director David Brewer said.

“No determination about competing in the singles competition has been made at this time. Ms. Bouchard will continue with medical evaluation and treatment.”

TANZANIA VS NIGERIA FALLOUT

Ikeme predicts better days with Eagles • As Musa calls for patience

S

uper Eagles goalkeeper, Carl Ikeme, has predicted a bright future with the Super Eagles after his superlative performance in his debut against Tanzania on Saturday.

“There are many expectations that include fitting the big shoes left by Vincent Enyeama who has been amazing for us. I’m glad I kept a clean sheet and wish to take time out to thank my team mates who have been

amazing and welcomed me from the moment I arrived.”

“I hope to continue from where I left off and if given the chance. All I can say is that it was indeed a great feeling putting on that jersey for Nigeria and a dream come true for me.

The team is young so we can expect better results as we go along in subsequent matches.

Meanwhile, stand in skipper Ahmed Musa is satisfied with the draw against Tanzania but has intimated

Pinnick canvasses support for Oliseh

N

igeria Football Federation President Amaju Pinnick refused to be despondent following Saturday’s 0-0 draw between the Super Eagles and Taifa Stars of Tanzania. Rather, he saw a lot of positives in the result and has called on Nigerians from far and near to exercise patience as new Head Coach Sunday Oliseh gradually steadies his ship.

“It was a good match in the sense that Oliseh has now seen his first set of players, and he has seen the good and the bad ones.

If we had been able to

that there is still room for improvement.

“We came to Tanzania hoping for a win but let’s be realistic the draw was not a bad result considering we have new players in the team and that means we have to give them time to adjust” “The game against Tanzania was not easy as they were very determined. Football has changed and nowadays we have no small or big teams.”

Nigeria Ambassador showers praises on NFF

play a friendly match before this game, he would certainly have had greater knowledge of each and everyone of his players.

“However, a lot of lessons have been learnt here.

I believe the team will get better as we go along.”

Pinnick

Tanzania coach rates Eagles high Adekunle Salami, DAR ES SALAAM

C

oach of Taifa Stars of Tanzania, Charles Mkwasa, on Saturday said the goalless draw recorded against Nigeria was not enough to say both teams were on the same level in football.

He noted that in football anything could happen as his players were even unlucky not to have won the match.

Mkwasa said: “I am

proud of my players. They played to instructions and we could have scored at least two goals.

“Nigeria has a very strong side with experience.

The result is not enough to say they are not superior. We were only able to fight for the ball and the determination in the team helped us.”

The Tanzanian coach noted that his team would work hard to improve in other games in the qualifying series.

N

igeria’s Acting High Commissioner to Tanzania, His Excellency Salisu Umaru, has applauded the arrangements made by the Nigeria Football Federation for Saturday’s 2017 Africa Cup of Nations qualifier away to Tanzania.

Speaking when some NFF management officials visited the High Commission of Nigeria in Dar es Salaam, Ambassador Umaru said the excellent arrangements for the players and officials to be comfortable for the game were worthy of praise.

“I must say that the new NFF administration is focused, and looks determined to get it right. It is important to mention that the NFF sent some persons ahead to make adequate accommodation and transportation arrangements for the team, and also got in contact with the High Commission to help mobilise Nigerians in Tanzania to support the Super Eagles.”

Nigeria’s Solomon Kwambe (left) jostling for the ball with Tanzania’s Nadir Haroub

NEW TELEGRAPH MONDAY, SEPTEMBER 7, 2015

AFCON ROUND UP

Sport 47

Ayew hails resilient Black Stars

S

tand-in Ghana captain Andre Ayew has praised his teammates for their remarkable resilience after edging Rwanda 1-0 on Saturday in a 2017 AFCON qualifier.

The Black Stars needed an 87th minute free kick from onloan Las Palmas midfielder Mubarak Wakaso to pick the points at the Amahoro Stadium.

It was a result the 2015 Africa Cup of Nations losing finalist achieved in spite of playing on a horrendous pitch that made passing and movement extremely difficult for both team.

Ayew, who had to act as leader of the team in the absence of injured Asamoah Gyan, paid tribute to his colleagues for braving the storm and getting the job done.

“Honestly I think it was a good game, difficult pitch. We knew anytime we (Ghana)

S

Egypt wallop Chad to top Group G

enegal head coach Aliou Cissé has hailed his players after watching the Lions secure a 2-0 victory over Namibia in Windhoek on Saturday, in their second Group K outing of the 2017 Africa Cup of Nations qualifiers.

• Nigeria in tough race to qualify

E

bottom of Group G after losing to Egypt on Sunday and then previously 2-0 to Nigeria in June.

Egypt came out of the blocks flying on Sunday with Morsi opening the scoring as early as the second minute after some good build-up play from the Pharaohs, 1-0.

In the 25th minute Morsi found his second of the game and doubled his country’s lead with another fine finish, 2-0.

In the 38th minute Chad managed to pull a goal back courtesy of a strike from Nadjim Haroum, 2-1.

That joy, though, was shortlived by the home side as Mohamed Salah restored Egypt’s two goal lead in the 40th minute, 3-1.

The match was really over as a result in the 56th minute when Mahamed Salah scored Egypt’s fourth goal with a superb strike, 4-1. Egypt’s final came on 62minute.

Soudani’s late goals take Algeria to victory

E

l Arbi Hilel Soudani scored two late goals as Algeria defeated Lesotho 3-1 in their Group J 2017 Africa Cup of Nations qualifier at Setsotso Stadium in Maseru on Sunday.

The Dinamo Zagreb forward struck in the 85th and 91st minutes as the Fennec Foxes powered to victory over their plucky hosts.

Algeria claimed the lead in the first half when Faouzi Ghoulam netted in the 32nd minute, but their advantage was soon erased by an equaliser from Ralekoti Mokhahlane.

The match remained at 1-1 for almost all of the second half until Soudani’s late goals took the North Africans to victory.

It was the Foxes’ second successive win to see them top Group J, having kicked off their qualifiers with an easy 4-0 win over the Seychelles back in June.

The other Group J match at the weekend saw Seychelles and Ethiopia draw 1-1 in Victoria on Saturday.

The next round of fixtures in March next year will see Seychelles host Lesotho, while Algeria will welcome Ethiopia.

played with a team, they are going to give their 100 percent and we were prepared for that,” the Swansea City star said in a post-match interview.

“We showed a lot of character, solidarity and team spirit and I’m very pleased with what my colleagues showed today on the pitch.”

Senegal boss Cissé ‘proud’ of players

Nigeria’s Kenneth Omeruo in action against Tanzania’s Thomas Ulimwengu

gypt opened a twopoint gap over Nigeria in Group G of the 2017 Africa Cup of Nations qualifier after walloping Chad 5-1 at the Stade Omnisports Idriss Mahamat Ouya on Sunday.

A hat-trick from striker Basem Morsi gave them the resounding victory over their hosts.

The win sees Egypt go top of Group G on six points after winning their opening qualifier in June 3-0 against Tanzania and also puts Nigeria’s hope of qualifying for the biennial championship in some jeopardy.

Egypt have not qualified for the last three AFCON competitions while Nigeria missed out in the last one in Equatorial Guinea.

Both sides confront each other in March 2016 and the outcome will be decisive regarding who picks the sole slot from Group G. Tanzania are in third place with one point and Chad at the

Ayew (right)

West Ham United midfielder Cheikhou Kouyaté put the visitors ahead by heading home a corner kick in the 35th minute, while Southampton ace Sadio Mané doubled their lead in the 56th minute after breaking through the ‘Brave Warriors’ defence.

“I am happy and proud of my players, as the most important thing was to win,” Cissé told the media at the post-match press conference.

“We won away from home, in a country where many teams will struggle to get points.”

Seychelles coach savours maiden point

S Saindini

RESULTS Kenya 1-2 Zambia Lesotho 1-3 Algeria Swaziland 2-2 Malawi Zimbabwe 1-1 Guinea Liberia 1 - 0 Tunisia S’Sudan 1 - 0 E’Guinea Comoros 0 - 1 Uganda Botswana 1 - 0 B’ Faso G’Bissau 2 - 4 Congo Sao Tome 0 - 3 Morocco Tanzania 0 - 0 Nigeria Rwanda 0 - 1 Ghana Seychelles 1 - 1 Ethiopia Burundi 2 - 0 Niger Namibia 0 - 2 Senegal Mauritania 3 - 1 S’Africa

eychelles coach Bruno Saindini has lauded his team’s performance after splitting points with Ethiopia in a 1-1 draw on Saturday in Mahe.

Veteran Nelson Laurence gave the Islanders a first half lead from the spot before Seyoum Tesfaye drew level for the Walias few minutes after the break.

Despite finishing the game with 10 men after midfielder Trevor Vidot was sent off

three minutes into the second half following a second yellow, Seychelles managed to steal a point off Ethiopia in the Group J encounter.

“I was very impressed with our first half performance but when we fell a man behind it was difficult against a very good team.

“I must congratulate my players for fighting till the end. I’m very happy with our overall performance and fighting spirit,” Saindini said.

Botswana may face sanctions over pitch invasion

B

otswana could face sanctions from the Confederation of African Football (CAF) for a mass pitch invasion by fans in Francistown, the country’s second largest city situated some 430km north of the capital, Gaborone, on Saturday afternoon.

Botswana Football Association (BFA) president, Tebogo Sebego told Xinhua Sunday in

an interview that his association was likely to be charged between 5,000 U.S dollars and 10,000 dollars as punishment.

This is after fans invaded the pitch after the Zebras of Botswana secured a clinical 1-0 victory over the visiting Stallions of Burkina Faso during their 2017 Africa Cup of Nations second Group D qualifying game.

Liberia shock Tunisia in Monrovia

L

iberia pulled off a shock 1-0 victory over Tunisia in Monrovia to draw level with the Carthage Eagles on three points each in Group A of AfCON 2017 qualifying.

Togo still lead the group with six points after two wins

out of two.

It was a historic occasion for Liberia who won on the day that the country hosted its first international football match since the lifting of an ebola ban.

It was thanks to Francis Forkey Doe who scored the

goal that mattered 11 minutes from time.

The result gave Liberia their first points in Group A. Togo lead the standings after their victory in Djibouti, who are rock bottom without a point.

On Marble

World Record

Sanctity of Truth

1958 Sweden World Cup:

“Indifference and neglect often do much more damage than outright dislike.”

The first live worldwide TV coverage of the World Cup was in 1958.

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

– J.K. Rowling

MONDAY, SEPTEMBER 7, 2015

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Public arena : the column you write

Buhari @ 100: Placing Nigeria on path to recovery Bola Ahmed Tinubu

T

hree months ago, the course of Nigeria’s future changed for the better. The APC won a historic election. Tired of the broken promises and damaged public institutions wrought by sixteen years of PDP misrule, the people demanded change. By virtue of the election, the people reclaimed the primacy of their sovereign will. They demanded that government should serve them before serving itself. That proclaimed that government for the people was not only possible in this land but that its establishment was overdue. The breath of hope was restored to the body politic. On that day, we all stood more proudly and more eager to walk into the new day that had come.

But change is not made simply by winning an election or ejecting a few bad seeds from office. Change requires the careful removal of the rotted timber that has made national governance such a rickety structure.

It requires the bold articulation yet wise implementation of a vision and supporting policies, programmes and projects aimed at making our country better, making our people’s lives better.

Change does not tolerate the high rates of poverty and joblessness that insult our national potential and reduce the lives of too many Nigerians.

The change we seek will revive this economy in a way that creates jobs and lifts Nigerians out of poverty that all may enjoy the dignified and secure life promised us.

Change is not weakening our military to the point where it is too demoralized and ill-equipped to protect our people from terrorist violence.Change is energizing that military with new leadership, better war materiel and the firm mandate to rout Boko Haram. Change is establishing peace and security so that the hundreds of thousands of displaced Nigerians may return home in contemplation of rebuilding their lives in ways better than what was before. And change means fighting corruption in all of its manifestations instead of consorting with it. No longer shall the public treasury, meant for the wellbeing of the many, be treated as the private reserve of the few.

Nigeria is now 100 days into President Muhammadu Buhari’s leadership. It is clear that he has begun the change Nigeria needs. He has shown the decisiveness, the incorruptibility, security acumen and progressive vision we voted for. He has brought the leadership we desperately need.

I shudder to think where we might be had the prior administration been allowed to govern even 100 days more, let alone another four years.

First, Buhari has turned the table against Boko Haram.He has not hesi-

Buhari

tated to take the fight to the terrorists, destroying their hideouts, capturing their fighters and equipment while taking the military initiative away from them. They are on their heels and on the run. To get to this better position, he dismissed general officers who had lost heart and were too hesitant to confront Boko Haram, replacing them with new military commanders selected not on regionalism or favouritism but on the strength of their military leadership and fighting spirit. The president strengthened our security partnerships with Chad, Niger, Cameroon, and the United States to build a much stronger regional and international coalition to uproot the terrorists. He continues to reach out to other nations to further strengthen that coalition. We are no longer a junior partner in a fight that mostly takes place on our soil. Because of President Buhari, we are at the head of this multilateral effort, driving it forcefully to successful conclusion.

We have still a lot of work to do.

While reeling, Boko Haram is not completely defeated

We are already seeing improvements in safety across the North-east as Boko Haram retreats and retreats.

Buhari will not relent until there is no more Boko haram left to fight.

Buhari is also tackling corruption.

He has already shown dozens of corrupt officials the exit, demonstrating that he will not tolerate corruption in his government. He is busily plugging the loopholes in the system to prevent the wholesale thievery so common under the predecessor government.The idea of a single federal government account is one such corrective measure.

Moreover, he is studiously tracking where much of the stolen funds went.

He is doing this that he may recover these public funds and bring to book those who purloined them.

He will return that money to the people, using the funds to build schools, roads, and hospitals that Nigeria needs.

The President is also taking steps to pull our economy from the dangerous brink where the PDP left it and then to strengthen and diversify the economy that it may provide jobs and prosperity to all who are willing to work to improve their lot. He has fought and already cured much of the indiscipline and subterfuge that plagued the operation of our refineries and power system. Just in the first hundred days, refinery production has increased reasonably, lowering the cost of fuel importation and thus spurring greater economic activity. He also has improved electricity production by holding the power companies accountable.

By approving a package of emergency fiscal and financial relief, he has stopped the slide of numerous states into economic depression and imminent bankruptcy. By enabling the payment of back salaries to state government civil servants, he has saved millions of Nigerians from sinking into hunger and poverty. Moreover, the funds paid to these people will be used to purchase goods and services thus energizing local economies that were becoming flaccid due to lack of aggregate consumer demand. The former government should have taken this step months ago, even before the election.

However, it let a bad situation fester into impending calamity. Had that government remained in office, it would have allowed the states to slide into bankruptcy, triggering a financial crisis that would have engulfed the banking system if not the entire economy.

In his first 100 days, President Buhari staved the financial paralysis of the states and, as such, may have prevented a sudden and crippling financial crisis. Gone are the days of rebasing falsehood and brazen theft from our treasury.

In coming weeks, he will reveal his budget. The budget will go far toward honouring his campaign promises to boost domestic industries, improve our schools to prepare our children for the jobs of tomorrow, and invest in

infrastructure that will make Nigeria a better place to run a farm, build a factory, drive your car, drink the water, construct a home, and create jobs.

We have still a lot of work to do.

While reeling, Boko Haram is not completely defeated. Ourstolen girls are not back, and too many from the North East are still unable to return home. With regard to corruption, we must not only recoup stolen money, we must rediscover lost public ethics.

We need to establish the mindset that corruption is criminal and evil and do away with the mentality that has treated it as correct public etiquette.

While actions have been taken to thwart imminent crisis, much needs to be done to place the economy on solid footing over the longer haul. I look forward with great optimism and enthusiasm to the government coming forward with plans to create jobs, modernize our infrastructure and diversify the economy so that our industrial sector may attain greater prominence.

I salute and accept the deliberate painstaking slow fix of this government which is meant to set a stronger foundation for quick economic recovery. The effort to stem the primitive pilferation of our commonwealth must attain national priority. The Buhari administration is committed to building a new country.

Looking at the fragile vehicle they inherited and at the harsh terrain they have been able to navigate, I could not be prouder of what the President, the Vice President and their team have done thus far. If they continue in this manner, they would have done more than justify the people’s faith in them.

They would have placed Nigeria on the path to its better self. We cannot ask any more from them than that.

HIGH CHIEF

BAILOUT MONEY CAN'T BAIL STATES OUT – Ajimobi

-Water don pass garri!

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