New telegraph monday, january 4, 2016 binder1 by Newtelegraphonline

PDP leaders didn’t know money was from arms deal –Babatope }12

Visits help people with dementia –Study }7

Economy tops discussion as IMF boss visits Nigeria lLagarde meets president, finance minister, CBN, stakeholders

Abdulwahab Isa Abuja

he Managing Director of the International

Monetary Fund (IMF), Ms. Christine Lagarde, is billed to undertake a fourday working visit to Nigeria effective from today, sources in the Presidency

told New Telegraph at the weekend. Already, Lagarde’s advance party had been in Abuja, the nation’s capital, since yesterday.

A source at the IMF also confirmed the visit to New Telegraph yesterday. In the course of the visit, domestic economic issues such as fuel sub-

sidy, diversifying Nigeria’s earnings to non-oil sectors, devaluation of naira, state of nation's infrastructure and the workCONTINUED ON PAGE 5

Sanctity Of Truth

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

Monday, January 4, 2016

Man seeks minister’s help after 14 years on death row }9

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Vol. 2 No. 684

Dambazzau

Girl, 19, commits suicide as boyfriend rejects pregnancy }9

Arase

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Dasuki's lawyer begs Buhari to obey court order }4

N150

Dasuki

Oil marketers ignore FG’s directive

fuel prices across the states

}2 & 5

…sell fuel at N120, N130, N150, N170 lPPPRA reduces Q1 fuel import by 70%

Motorists queuing for fuel at NNPC Mega Station at Omole in Lagos…yesterday.

PHOTO: GODWIN IREKHE

States Abia Adamawa Anambra Akwa Ibom Bauchi Bayelsa Benue Borno Cross River Delta Ebonyi Enugu Edo Ekiti Gombe Imo Jigawa Kaduna Kano Katsina Kebbi Kogi Kwara Lagos Nasarawa Niger Ogun Ondo Osun Oyo Plateau Rivers Sokoto Taraba Yobe Zamfara FCT

Price N145, N150 N100, N170 N140 N130 N87 N130 N125, N150 N87 N120, N130 N120, N143 N150, N170 N150 N130 N120 N120, N150 N150 N135 N90 No fuel N87 N120 N110, N120 N120, N130 N100, N110 N120, N130 N87 N100, N110 N125, N130 N120, N130 N120, N130 N87+ N145 N130, N170 N150, N160 N120, N150 N87 N86.50

Inconclusive elections: FG to overhaul INEC lMay recall ex-RECs as national commissioners

News

MONDAY, JANUARY 4, 2016 NEW TELEGRAPH

Oil marketers ignore FG’s directive Our correspondents

our days after the Federal Government pegged the price of fuel at N86.50k per litre, major and independent marketers across the country have defied the new pricing regime notwithstanding the threat of the Department of Petroleum Resources (DPR). The Petroleum Products Pricing Regulatory Agency (PPPRA), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), had fixed N86.50k per litre of fuel effective from January 1. By the directive, NNPC

mega stations would sell fuel at N86 per litre while other marketers would sell for N86.50k per litre. But, a survey carried out yesterday by New Telegraph correspondents across the 36 states of the federation including the Federal Capital Territory (FCT), Abuja, indicates that oil marketers are selling a litre of fuel between N100 and N170 per litre. Even in some states, NNPC mega stations still sell at N87 per litre. The situation in some states is different as some members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) closed their filling stations, as they were not

prepared to sell at the approved price.

Partial compliance in Ogun In Abeokuta and other parts of Ogun State, there is partial compliance with the new pump price. While most major marketers complied with the directive to sell fuel at N86.50k per litre, most independent marketers in the state flouted the order. The NNPC Mega Station along Abiola Way, Abeokuta sold fuel to motorists at the official rate of N86.50 per litre as directed by the PPPRA. Investigations by New Telegraph revealed that many filling stations are still selling fuel to custom-

ers between N100 and N110 per litre. In Ijebu-Ode axis of the state, several filling stations sold fuel at N87 per litre on Saturday. But as at yesterday, they closed shop and refused to sell to motorists. The situation was no different in Ilaro, as many petrol stations did not comply with the new price regime. Officials of the Department of Petroleum Resources (DPR) were not on ground to enforce the compliance in many parts of the state. However, the state Commandant of the Nigeria Security and Civil Defence Corps (NSCDC), Akinwan-

L-R: Executive Director, Stakeholder Management and Corporate Communication, Dangote Group, Mr. Ahmed Mansur; Director, Student Supports Services, National Universities Commission (NUC), Dr. Rakayatu Gurin; Executive Secretary, NUC, Prof. Julius Okojie; President, Dangote Group, Alhaji Aliko Dangote and Chief Executive Officer, Zouera Youssoufou, during NUC’s visit to Dangote corporate headquarters in Lagos...recently.

Buhari’s social package, not one-off scheme –Osinbajo

he social welfare intervention programme of the Muhammadu Buhari administration, for which N500 billion has been allocated in the 2016 budget, is not a one-off scheme. Senior Special Assistant (SSA) on Media and Publicity in the Office of Vice President Yemi Osinbajo, Mr. Laolu Akande, said this in an interview with newsmen in Abuja yesterday. He said the scheme “is a combination of several well-thought-out programmes emphasising direct connections with the extremely poor, and the needy among other categories of the masses of this country.” A breakdown of the welfare programme is contained in the 2016-2017 and 2018 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (PSP) submitted to the National Assembly for consideration and approval. According to the docu-

ment, the Federal Government will collaborate with state governments to institute well-structured social welfare intervention programmes such as school feeding programme initiative, conditional cash transfer to the most vulnerable and postNational Youth Service Corps grant. Under special intervention including cash transfer, home grown school feeding programme and micro credit loans (SMEs, market women etc), which is also covered by the social intervention programme, the government provided the sum of N300 billion for 2016, N339.05 billion for 2017, and N338.93 for 2018. According to the spokesman, the plan of the Buhari presidency is comprehensive and has taken into consideration some of the factors that led to the failure of past poverty alleviation schemes. “One of the major differences here is that the social intervention pro-

gramme, such as the Conditional Cash Transfer (CCT), would be a direct transfer of N5,000 monthly to the extremely poor among us. “And this is a safety net that several advanced nations had put in place a long time in their history, and most often at times of economic challenges." The SSA said that the money would be paid directly to the people concerned on the condition of school enrolment and immunisation. “This way, we are expanding school enrolment and also assuring physical well-being. “The home-grown school feeding programme will commence in public primary schools in 2016, providing adequate nutrition to school children, promoting local farming, boosting agriculture, and creating jobs and wealth locally. “We have experts working in the presidency, collaborating with experts from global bodies who

together bring to bear international best practices working on how best to implement these programmes. “I can tell you that no sooner than President Buhari resumed work, many of these experts have been meeting and planning on how best to implement these plans. “We are not talking here of something hurriedly put together or a programme where some consultants would take the huge chunk of the resources," he said. Akande also said there is a provision of no fewer than one million jobs in 2016, including 500,000 graduate-youths to be engaged as teachers. “There is another 500,000 non-graduate unemployed people who will be trained as artisans, making a total creation of about one million direct jobs,” he said. He added that the presidency was determined not to repeat the past failed efforts at alleviating poverty.

de Aboluwoye, told our correspondent yesterday that his agency was prepared to enforce the new pump price. But, IPMAN chairman, Mosimi, Ogun State, Adeleke Bada, denied that filling stations had yet to comply with the new pump price in the state. Bada said any marketer that flouted the directive was on his own.

...Also in Lagos Most filling stations in Lagos are yet to comply with the new pump price, while others sold a litre at N86.50k. From Ojodu Berger to Ikeja area of the state, most filling stations still sell above N100 or at N87. From Ojota to Ojuelegba axis of the state, only a few motorists bought fuel at the new price. From Oshodi to IyanaIpaja axis of the state, motorists bought fuel at N110 per litre. Speaking with New Telegraph, a motorist, who identified himself as Otunba Kolapo said he bought 25 litres of petrol at the rate of N100 per litre. Litre goes for N125, N130 in Ondo While the NNPC outlets were selling at the government approved pump price of N86 per litre, major and independent marketers in Ondo State defied the government's order to sell at N86.50 per litre. Although the major marketers have fuel in their dumps, they were only selling to selected customers and telling those who challenged them to report them to the DPR. In fact, none of the independent marketers in the state was selling at the government approved pump price as at yesterday. Most of them are selling the product between N125 and N130 per litre. Defiance in Kebbi, Kogi, Jigawa In Kebbi, some filling stations sold petrol for N100 per litre while others sold for N120 per litre as at yesterday. The NNPC mega stations in the state have no product. The situation is the same in Kogi State, as many fuel stations in Lokoja, the state capital, dispensed the product to customers at N110 and N120 per litre. In Jigawa, only the NNPC mega stations sell at control price of N86. In a few independent marketers’ outlets selling fuel, a litre is sold at N135 and above. Some of the filling stations now prefer to sell fuel at night at exorbitant prices.

In Kwara State, most independent marketers were still selling between N120 and N130 per litre. Few filling stations around Amoyo, Ganmo area of Ilorin, the state capital, had fuel for sale yesterday with few queues, but not at the N86.50k new price. Litre at N120, N130 in Nasarawa, Yobe In Nasarawa State, filling stations have not complied with government’s directive. Our correspondent who went round Lafia, the state capital, report that only the NNPC mega station along Jos road sold at government’s approved pump price of N86 per litre as at yesterday. A visit to some filling stations such as A.A Rano, Mai Doya, Adogi Oil and host of others in Shabu, Nasarawa Eggon and Akwanga still sold fuel between N120 and N130 per litre. In Yobe, most filling stations sold at N120 per litre as at yesterday. Except the NNPC and major marketers, fuel was sold between N100 and N150 on Sunday. Non-compliance in Taraba, Sokoto, Borno In Taraba, independent marketers sold a litre of fuel between N150 and N160. At the NNPC filling station in Jalingo, the state capital, the fuel was sold at the old price of N87. In Sokoto, a litre of fuel still goes for between N130 and N170 per litre. In Borno, only the NNPC mega stations sell at the N86 per litre. Most of the major and independent marketers closed their gates. The few selling fuel sold at the old price, N87 per litre. An Oando filling station along Kashim Ibrahim way sold at N87 per litre as at Sunday evening. Unregulated market in Oyo Virtually all the filling stations visited on Sunday in Oyo State were selling at N120 per litre. Many stations, however, shut their gates to motorists and were not dispensing fuel. In most of the filling stations visited in Ibadan, the state capital, fuel was sold at N120 per litre. It was the same experience in Oyo, Ogbomoso and its environs. Residents of Oke Ogun area of the state said that some filling stations were even dispensing at N130 per litre. Many of the filling stations that shut their gates yesterday morning sold at N120 per litre till late eveCONTINUED ON PAGE 4

News

NEW TELEGRAPH MONDAY, JANUARY 4, 2016

Inconclusive elections: FG to overhaul INEC Onwuka Nzeshi ABUJA

he Federal Gover nment is considering an overhaul of the Independent National Electoral Commission (INEC) following the poor outing and controversial decisions the commission took during the recent governorship elections in Kogi and Bayelsa states. The elections, the first in the series to be conducted under the leadership of Prof. Mahmoud Yakubu, ended on an inconclusive note in both states. Although, the All Progressives Congress (APC) won the Kogi governorship election, the ripples of the poll are yet to settle while the supplementary election to complete the exercise in Bayelsa is billed to hold on January 9, 2016. New Telegraph learnt that the Presidency has been embarrassed by the tales of inconclusive elections in the two states and considers them as "very bad testimonies for INEC" under its new leadership. President Muhammadu Buhari, it was learnt, is considering recalling some former Resident Electoral Commissioners (RECs) who distinguished themselves while in service in their respective states to fill the apparent gaps in the election management body. The logic, New Telegraph learnt, is to elevate these former RECs to the position of National Commissioners where they could bring their wealth of experience to bear in the conduct of elections. Apart from the former Chairman of the Commission, Prof. Attahiru Jega, who quit the stage after the 2015 general elections, INEC lost a lot of valuable manpower and 16 RECs left the commission in June at the expiration of their tenures. The appointment of a new INEC chairman and four National Commissioners by the Buhari administration appears not to have given the Commission the needed facelift as most of the new appointees were yet to have a good grasp of the intricacies of running an election. A source at the commission told our correspondent that a post-mortem on the two elections had shown that INEC suffered from lack of capacity as those at the helm of affairs were relatively new to the system having not had any field experience. According to our source, though INEC had encountered inconclusive elections in the past, the manner in which it han-

dled the Kogi election in particular only exposed the inexperience of its handlers. "A situation where you have given a Certificate of Return to somebody (Governor-Elect) who does not have a deputy does not make sense and does not show that you know what you are doing. “Even during the normal pre-elections processes, when parties submit the list of their governorship candidates to INEC, candidates who do not have deputies are automatically disqualified because under the Electoral Act, you cannot run for the governorship election without a running mate. "The embarrassing thing is that INEC has never organised this kind of election where everything and every party is in court for what ordinarily should have been resolved through the ballot box. “The supposed APC deputy governorship candidate (Hon. James Abiodun Faleke) is in court, the incumbent governor and PDP governorship candidate in the election (Capt. Idris Wada) is in court and each of them is seeking to be declared as the winner of the election. A situation where everybody has packed the matter to the court shows that INEC failed to do its work properly. "Now, if INEC were to have done its job as it should, they should have acted promptly as soon as Prince Abubakar Audu died. The leadership of INEC should have known how to nip the crisis in the bud. Since they had earlier cancelled the results in some polling units before the news of Audu's death broke, they should have known that the equation had changed with the death of the APC candidate and should have gone back to the drawing board. All they needed to do was to consider the number of eligible voters in the areas they cancelled that election. By eligible voters, I don't mean just everybody whose name is in the register, but those who had their permanent voters’ cards (PVCs) and were ready to cast their ballot. "The substitution of Audu and holding of the supplementary election were unnecessary because the elections were won and lost when he died without completing the race. What INEC should have simply done was to do away with the supplementary and declare the party with the next highest number of votes winner of that election," the source canvassed. New Telegraph learnt

that INEC had, over the years, been making the same mistake of sacrificing competence, capacity and experience at the altar of politics and bureaucracy. "The guys who run elections and have the experience are the RECs in the various states. They know the terrain of their respective states and it is only ideal that they should be elevated to the federal

level where they can bring their wealth of experience to bear on the job. Unfortunately, these RECs are usually dumped as soon as their tenure expires at the state level," our source said. However, Deputy Director, Public Affairs at INEC headquarters, Mr. Nick Dazang, has dismissed the alleged plans to overhaul the commission, describing it as untrue.

Dazang who claimed to have crosschecked the information at the Presidency, said there was no plan to restructure INEC for now. "There is nothing like that. I even called some people in the Presidency and they assured me that there was nothing like that. In fact, one of them told me that somebody from an online medium had asked him a similar

question more than a week ago and that he dismissed it," he said. Dazang blamed the reported plans to overhaul INEC on some individuals and groups who have some interests in having the commission restructured According to him, "there are people who have so many interests and they would always find a way of pushing their interests through the media."

L-R: General Overseer, The Redeemed Christian Evangelical Mission (TREM), Bishop Mike Okonkwo; wife of the General Overseer, Redeemed Christian Church of God (RCCG), Mrs. Foluke Adeboye; wife of Lagos State Governor, Mrs. Bolanle Ambode; General Overseer, RCCG, Pastor Enoch Adeboye and Governor Akinwunmi Ambode, arriving at the 2016 Annual Thanksgiving Service at the Lagos House, Ikeja…yesterday.

Economists back CBN on forex policy

resident Muhammadu Buhari and two leading Nigerian economists have endorsed the Central Bank of Nigeria (CBN)'s foreign exchange management policy, just as local manufacturers have also applauded the policy. Their support comes against the backdrop of strong criticism of the CBN forex policy of capital controls and increasing calls for the devaluation of the naira. The president noted during the last Wednesday’s Presidential Media Chat that there was no strong conviction on the need to devalue the naira, a position which is in alignment with the stance of the CBN. Buhari stressed that Nigeria as a nation has foreign exchange policy priorities, which is to provide money to fund the projects, which the CBN has highlighted, and not to waste the nation’s resources on those who want hard currency to import textiles and toothpick. Also, the Managing Director/Chief Executive Officer, Financial Derivatives Company Limited, Mr. Bismarck Rewane, also supports the CBN’s flexible managed floating rate, which is a band within which the exchange rate

will move. However, he noted the exchange rate’s improvement depends largely on improvements in Nigeria’s productive capacity through improved oil prices, production and exports. These conditions are expected to create positive appreciation of the value of the naira against other currencies. He warned that if these parameters depreciate, the naira would also depreciate. He revealed that Nigeria’s economy has depreciated sharply. Therefore, downward adjustment of the naira is inevitable. “It is not what we wish to have but that it is what we have to do. What the CBN has been doing is to manage the circumstances within the limited resources that we have, there has been rationing and other monetary control measures, all these are indications that what is available is not what is required, and therefore it is important to manage it in an orderly manner.” He also clarified that there is a difference between exchange rate uncertainty and exchange rate risk. Rewane stated that risk and uncertainty are not the same thing, pointing out that risk is the probability that something

negative will happen while uncertainty means you do not know what is going to happen. According to him, in 2016, Nigeria will be moving from uncertainty to an environment of low moderate risk. Another leading economist, Dr. Biodun Adedipe, also stated that Nigeria’s economic problem is not the naira-dollar exchange rate. He said: “The problem is the supply problem. The people want to get goods and Nigeria is not producing enough to meet local demand. Therefore, the people will have to import and that means pressure on the naira and invariable the naira dollar exchange rate. Therefore, the Central Bank of Nigeria, in my own view, has performed excellently well by placing capital controls on foreign exchange. This, however, should have a set period to encourage all stakeholders to support the initiative. “In respect of capital controls, I am firmly in support of the Central Bank of Nigeria. This is the logic and we have a reference in history, what Malaysia did in 1997, when they found themselves in the situation Nigeria has found itself today,” he added. Meanwhile, the impact

of the policy is already being felt across several sectors of the economy, as attested to by the Chief Executive Officer of Erisco Foods Limited, Mr. Eric Umeofia, who said that the foreign exchange restriction policy of the CBN has raised his firm’s production capacity from five to 25 per cent. It will be recalled that the CBN has assured Nigerians that the foreign currency restrictions will be lifted only when the reserves have been built up to an appreciable level. CBN’s Director, Monetary Policy Department, Mr. Moses Tule, recently said the restrictions would be lifted, “as soon as we build up reserves; when you see us building reserves to $50 billion, $60 billion, $70 billion, $200 billion or more.” According to Tule, “The moment we begin to build reserves, we expect that just as this restrictions were not there, most of the restrictions will be lifted. But for now, every hand needs to be on deck. We need to earn foreign exchange. As a country, you can improve your business processes in order to export and earn foreign exchange and that is what the country is calling on patriotic Nigerian businessmen to do.”

News

MONDAY, JANUARY 4, 2016 NEW TELEGRAPH

Dasuki's lawyer begs Buhari to obey court order Tunde Oyesina Abuja

ounsel to the embattled former National Security Adviser (NSA), Col. Sambo Dasuki (rtd), Mr. Ahmed Raji (SAN) has pleaded with President Muhammadu Buhari to allow all accused persons who have been granted bail by the court to go and enjoy their freedom. Dasuki is being tried over alleged diversion of funds meant for arms procurement in about three different courts. While one is before the Federal High Court sitting in Abuja, two others are before Abuja High Courts. Speaking in Abuja at the weekend, Raji said that he was too small to join words with the President. "I respect him (President Buhari) both in his personal and official capacity and I know that he means well for the country. "On the isolated case of my client – Sambo Dasuki, I plead with the president to allow him to enjoy his bail. I am too small to join words

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with the president of the country. I will only plead that he allows him to go on bail." The three courts trying Dasuki had, at various times, admitted him to bail on the different count charges preferred against him. Raji, however, noted that in law there is only judicial review of administrative actions and no executive review of judicial decisions. "That is why I would beg the president to allow all those that have been granted bail to go and enjoy it. But I am not part of the call for the resignation of the president," he said. Dasuki had, last Monday, perfected the bail condition granted him by Justice Peter Affen of an Abuja High Court.

But shortly after his release from the Kuje Prison, Dasuki was re-

arrested by officials of the Department of State Services (DSS) at the

prison gate. Buhari had, during a Presidential Media Chat

last Wednesday, said Dasuki cannot be released at the moment.

L-R: Chairman, CountryWide Housing Company Limited, Ali Magashi; Deputy Managing Director, Arik Air, Capt. Ado Sanusi; Managing Director, Chris Ndulue and Chief Pilot, Capt. Adetokunbo Adekunbi, at a function in Kano …at the weekend.

Oil marketers ignore FG’s directive CONTINUED FROM PAGE 2

ning of Saturday.

Marketers shut doors in Kano Rather than comply with the government’s directive, independent marketers in Kano State remain closed. The marketers have created artificial scarcity in the state because of their refusal to sell at the approved N86.50k per litre. Non-compliance in Osun It is the same story on non-compliance in Osun State as independent marketers are still selling fuel at N120 and N130 per litre. Only the major marketers had complied with the directive since January 1 as directed by the NNPC. The NNPC filling stations in the state sell at N86 per litre. A good number of the filling stations who have products did not open for business as some of them said they would be recording losses selling at the approved price. Ebonyi, Anambra, Imo sell fuel for N150 In Ebonyi, only the NNPC mega station, located along Abakaliki/Enugu Expressway, sold at N86. Other stations located in various parts of the state sold between N150 and N170 per litre when our correspondent visited on Sunday. In Imo, a litre of fuel was sold at N150. Fuel stations in Anambra State have remained defiant. As at yesterday, fuel pump prices were still pegged at between N135 and N140 per litre in Awka, the state capital.

No respite in Enugu, Abia A visit to some of the filling stations in Enugu and its environs yesterday revealed that the product was sold for between N140 and N150. Even, at the NNPC mega station at the New Extension, Enugu, a litre of fuel was sold for N87. Along Zik Avenue, Okpara Avenue and Abakpa Nike, all the filling stations visited sold between N140 to N150 per litre yesterday. The situation is the same in Nsukka, the second largest city in the state. The few marketers with the product in some parts of Umuahia, the state capital, sold the product at N145 and N150 per litre. Most of the marketers did not have the product as at yesterday. Partial compliance in Kaduna, Bauchi New Telegraph observed that most major marketers in Kaduna were dispensing fuel at the official price of N86.50k per litre, but the independent marketers that are on the outskirts of town sold the product at N90 per litre. Most of the NNPC filling stations in Kaduna have exhausted their products and were not dispensing fuel yesterday. In Bauchi, there is partial compliance. Some filling stations sold at N86.50k while others sold at N87 per litre. N100, N170 per litre in Adamawa Despite the government’s directive, some oil marketers in Adamawa are now selling petrol at N100 and above per litre. Our correspondent, who monitored the situation, observed that many

filling stations have had no supplies while the few others that managed to have the products are yet to comply with the new directive of N86.50k per litre. A litre of petrol is still being sold at about N170 in some areas in Adamawa, as almost all the filling stations were closed down as at yesterday. Only one or two NNPC mega stations were selling fuel, while major marketers such as Total, Conoil and Oando shut down their stations due to nonavailability if the product. Unemployed youths are now making brisk businesses at the roadside black market, popularly known as “Yan chuwachuwa” on daily basis. Baba Iro, who hawks fuel on Jimeta-Yola Road, said that he bought petrol from some filling stations in the night at N150 per litre. “We sold it to motorists between N180 and N200 per litre,” Iro said. Petrol sells at N135, N143 in Edo, Delta New Telegraph findings showed that the price per litre of fuel sells at N130 at some of the stations in Edo State. At Asolyn station on Sapele road, Total station on Akpakpava and Airport road respectively, the product was sold at N130. Also at Jeroved, VOE on Ekenwan road and Otopec stations, the pump prices as at yesterday varied from N120, N130 and N135 per litre, respectively. It is the same story in Delta State as independent marketers sell between N120 and N143 per litre. As at yesterday, no filling station had complied

with new pump price of N86.50k directive by the NNPC. Nothing changes in Niger Most filling stations in Niger State are still selling at N87. When our correspondent contacted the state controller, DPR, Engr. Abdullahi Isah Jankara, he confirmed that he has not received any letter or directive from his head office on the new price regime. According to him, "I saw it in some newspapers, but I have not received any message or letter from my head office to that effect. So, we are still selling N87 per litre in Niger." Fuel goes for N130 in Bayelsa, Akwa Ibom In the oil-rich Bayelsa State, only the NNPC mega stations sell fuel at N86 per litre. Most of the filling stations in the state sell fuel for N130 per litre. Some of the filling stations visited yesterday along Mbiama Yenagoa road like Sobaz and Makari sold fuel at N130 per litre. In Akwa Ibom, independent marketers sold fuel at N130. The product also sold for between N120 and N150 in Gombe State, while marketers sold fuel at N120 per litre in Katsina and Ekiti states. In Rivers, a litre of fuel was sold at N145. Partial compliance in Zamfara In Zamfara State, the prices differ from major marketers to independent marketers. When our correspondent went round most

of the filling stations in Gusau, the state capital, it was discovered that only the NNPC mega stations sold fuel for N86, while independent marketers like Forte Oil, Oando, Total, AA Rano and others sold for N86.50k and N87 per litre. Prices vary in Benue Owners of petrol stations in Benue State are still selling fuel at N125, N145 and N150 per litre against the new pump price of N86.50k. When New Telegraph visited filling stations such as Ikyabiz, Golden Ecstasy, Jaycycal located along Makurdi Apir road, as well as Silver Ray, Chikadef in North Bank, Tonimas at High Level area of the town, they were all selling above the new price. The situation was the same in Otukpo, (Benue South). Some of the independent marketers said they still have the old stock. No compliance in Plateau, Cross River In Plateau State, independent marketers are yet to comply with the directive. Most filling stations visited in Jos, the state capital, yesterday are still selling above N87 per litre. In Cross River, independent marketers still sell petrol for N110, N120 and N130. Even the NNPC stations are selling at the old price of N87. Full compliance in Abuja In Abuja, the NNPC retail outlets are selling at the N86 while other marketers are selling for N86:50k. A visit to most of the fuel stations within the Abuja metropolis shows compliance of the marketers to the new prices.

News

NEW TELEGRAPH MONDAY, JANUARY 4, 2016

Marketers kick as PPPRA slashes 2016 Q1 fuel import by 70% Adeola Yusuf

he Petroleum Products Pricing Regulating Agency (PPPRA) has released the first quarter fuel import allocations of about 1.5 million tonnes to marketers of Premium Motor Spirit (PMS) also known as petrol. It slashed the allocation for private depot owners and marketers by over 70 per cent. New Telegraph gathered exclusively at the weekend that the new allocation irked the marketers who perceived the move as a major threat to their multi-billion dollar investment and a way to run them out of business. The Nigerian National Petroleum Corporation (NNPC) will, according to the allocation, import 78 per cent of the allotment while the private importers, who hitherto imported

over 60 per cent of the allocation, are now left with about 22 per cent of the total allocation. A source at the PPPRA told this newspaper that the government cut the number of importing, marketing and trading firms to 20 instead of 29 marketers in the last quarter of 2015. The fuel imports are approved for all the five major oil marketers and 15 independent marketers. The allocations to five members of Major Oil Marketers Association of Nigeria (MOMAN) were, according to a PPPRA source, cut by about 70 per cent, while the NNPC allocation was jerked up from 40 to 78 per cent. These allocations have been greeted with protests from marketers who felt that government was planning to run them out of business. “Most of the marketers

who got 90,000 metric tones each in the fourth quarter of 2015 were given 30,000 metric tones in the new allocation,” he said, adding that the PPPRA took the tough stand on allocation “because so many companies could not meet up with their Q4 allocations.” The marketers, the source said, have “expressed the fear that this allocation will turn NNPC into a monopoly and portend a gloomy business for them. This has made government to slate a mid-first quarter review for February 15 when the level of their importation would be reassessed.” The source, which sighted the list, identified some of the private marketers that were given import allocations to include Masters Energy Oil and Gas Limited, MRS Oil and Gas, Heyden Petroleum, Techno Oil Limited, NIPCO Plc., Mobil Oil Nigeria

Plc., Forte Oil Plc., Conoil Plc., Oando Plc., Folawiyo Oil and Gas, and Total Nigeria Plc. The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, signed the approval and sent it to the PPPRA for disbursement to marketers. The newly released allocation is a 13 per cent reduction in the volume of imports released for the second quarter of 2015. It would be recalled that the importation of PMS by private marketers and importers crashed to 7.7 per cent in the last quarter of 2015. Meanwhile, as part of efforts to bridge the huge supply gap occasioned by the current fuel scarcity, the NNPC has commenced direct delivery of petrol to Independent Petroleum Marketers Association of Nigeria (IPMAN) retail outlets across the country. The latest intervention

by the state oil company, NNPC, was disclosed by the IPMAN’s National Operation Controller, Mr. Mike Osatuyi, during an inspection tour of some IPMAN retail outlets. Under the latest move, NNPC will provide petrol to registered and certified members of IPMAN, deliver the products at their respective retail stations, and ensure that IPMAN monitors that the products are sold at the approved price of N87 per liter. The current arrangement, according to him, has saved IPMAN members the hassles of going to depot to queue for products because NNPC has already taken off the burden of sourcing for products and transporting to the retail stations off them. In another development, oil workers and independent marketers at the weekend bickered over the sale of refineries

in Nigeria. While the marketers, under the auspices of IPMAN, declared that the government should sell the four refineries as scrap, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) described the suggestion as a fraudulent way of ripping the country of its national assets. Speaking on the sale of refineries, the PENGASSAN National Public Relations Officer, Emmanuel Ojugbana, described the call by IPMAN as sabotage against national interest. “Nigerians need to ask the IPMAN leadership why they want the refineries, which can be said to be in good form now to be sold as scrap. Even when the government has shown that the refineries can work and take care of 75 per cent of the nation’s local demand of refined products," Ojugbana said.

Dangote wants more investments in Nigeria

L-R: Commandant, Nigeria Army Armour School, Bauchi, Major General Idris Alkali; Brig.-Gen. Saviour Akpan and his wife, Mrs. Akpan, during Akpan's decoration in Bauchi. PHOTO: NAN.

Economy tops discussion as IMF boss visits Nigeria CONTINUED FROM PAGE 1

ability of the 2016 budget are some of the critical issues expected to shape the high level discussion between the IMF delegation and Nigerian officials. Lagarde's itinerary is still sketchy as at yesterday when top officials in the Presidency confirmed her visit to the country. New Telegraph learnt that the IMF boss will meet with President Muhammadu Buhari at the presidential villa during the visit. Tomorrow, Lagarde will hold session with Finance Minister, Mrs. Kemi Adeosun and meet with Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, same day. On Wednesday, Lagarde will be interfacing with a group of select stakeholders and non-governmental organisations (NGOs) during which issues on global

economy and its effects on Nigerian domestic economy will be looked at. Director in charge of information at the Federal Ministry of Finance, Mr. Marshal Gwandu, confirmed the visit to our correspondent. Gwandu said he was not privy to issues of discussion. Both the IMF and World Bank share similar disposition in respect of oil subsidy removal. The two global institutions are of the view that the subsidy funds, which cost government over N7 trillion in the last five years, is unsustainable, advising that the huge sums could be channelled to other productive areas that will have lasting positive impact on the economy. Their disposition to oil subsidy removal is further reinforced against the backdrop of crash in

crude oil prices at the international market. Last month, IMF predicted a volatile and tougher days ahead for oil-producing nations. The Fund, in its IMF Executive Board Concludes 2015 Article IV Consultation with Iran” report, highlighted that the price of crude oil could drop between $5 and $15 in 2016. According to IMF, the dwindling oil prices would not have overtly negative effect on Iran, whose gross domestic product (GDP) is expected to rise four to 5.5 per cent by 2017. “Prospects for 2016/17 are brighter, owing to the prospective lifting of economic sanctions. Higher oil production, lower costs for trade and financial transactions, and restored access to foreign assets, are expected to lift real GDP to about 4–5.5 per

cent next year,” IMF said. The same cannot be said for Nigeria, whose 2016 budget is benchmarked at an oil price of $38 per barrel for the 2016 fiscal year. With Nigeria expected to produce 2.2 million barrels of crude oil per day in 2016 and sell at $38 per barrel, the country expects to generate $83.6 million per day in 2016; $30.514 billion in the year 2016. While it appeared the administration of President Muhammadu Buhari is set to discontinue with oil subsidy starting from second quarter of 2016, the position of IMF and World Bank regarding devaluation of local currency, the naira is not likely to carry weight. Buhari and the CBN have maintained a consistent opposition to suggestion that naira should be devalued.

gainst the background of the current challenges facing Nigeria, President of Dangote Group, Aliko Dangote has urged Nigerians not to despair, but have abiding faith in the ability of the Federal Government to turn the nation's economy around in no distant future. He noted that the current challenges would soon be a thing of the past. He appealed to Nigerians to contribute their own quota by always doing what is right and adequately paying their taxes for the country to record real growth and development, pointing out that what Nigeria is going through was an experience that would guide her to plan for the future. Speaking to a group of businessmen who visited him in his office in Lagos in the spirit of the season, Aliko appealed to Nigerians to play their own civic role in the task of changing the fortunes of the nation for the better by paying their taxes, as part of their own respective contributions to the growth and development of the country. He urged the citizenry not to be discouraged by various challenges facing the nation, stating that they are necessary steps needed for the nation to rank among the best industrially in years to come. The business mogul called on both indigenous and foreign investors to invest more in the economy

of Nigeria, revealing that Nigeria is still one of the best places to have good returns on investment. Dangote explained that many investors whose businesses are thriving and doing well at present would have been discouraged if they had looked at the nation's economic indices which by mere observation might not look good for investments. He explained that with oil, the mainstay of Nigeria’s economy, now unreliable, government and other investors should focus more on agriculture and manufacturing as the potent alternative to lifting the economy out of the woods. The President of the Dangote Group said his company would invest more in Nigeria, create more jobs as he has an unwavering faith in the nation’s economy. He stated that all his investments would be tailored towards job creation for gainful employment, so as to alleviate poverty among the people. Dangote, who is a member of the committee recently set up by the government with the mandate to resettle Internally Displaced Persons (IDPs), stated that what Nigerians needed most presently is economic empowerment and that it is only a working population, whether self-employed or engaged, that could be economically empowered to contribute to the growth of the nation.

News

Fani-Kayode threatens Buhari over Dasuki, others Wale Elegbede

former Minister of Aviation, Femi Fani-Kayode, has said that hell will break loose if anything untoward happen to Colonel Sambo Dasuki,Sheik Ibrahim El Zakzaky and Nnamdi Kanu while in the custody of security agents. In a terse message posted on his Facebook page, Fani-Kayode said,

MONDAY,JANUARY 4, 2016 NEW TELEGRAPH

NATIONAL

“…. President Buhari and his government should please take note of the following: Sheik Ibrahim El Zakzaky, Colonel Sambo Dasuki and Mr. Nnamdi Kanu must NOT be beaten, tortured, poisoned or murdered whilst they are in your custody or else all hell will break loose.” While Dasuki is being prosecuted for alleged diversion of over $2.2 billion arms procurement

fund, Kanu is facing treasonable felony suit for being the arrowhead of agitators for a Biafra Republic, and El-Zakzaky, who is the leader of the Islamic Movement of Nigeria, is in police custody following the face-off his members had with troops of the Nigerian Army. Fani-Kayode, who was the Director of Media and Publicity of the Jonathan/Sambo Presidential Campaign Or-

ganisation in 2015, had recently in an open letter to the president, accused him of misinforming Nigerians on some issues. While noting that some of the president’s assertions lately have been contradictory, he vilified President Buhari for blaming his ‘failings’ on the previous administration, adding that, “We do not want and neither do we need doublespeak, lame excuses and buck-

passing.” “Instead of deploying all the power of the state against Boko Haram, you have spent all your energy and resources trying to teach the former National Security Advisor, Colonel Sambo Dasuki, and all your other perceived enemies the lesson of their lives by misrepresenting them before the world, subjecting them to state-sponsored tyranny and the most insidious form of persecution, violating their human rights and telling the world that they stole and shared money that was meant for the purchase of arms,” he wrote.

L-R: Director of Rehabilitation, Kogi State Ministry of Women Affairs and Social Development, Mrs. Motunrayo Babatunde; Government and Community Relations Officer, MTN Nigeria, Mr. Gabriel Nyam and Mrs. Caroline John, during the presentation of Perkins Brailler to CMML Special School for the Blind in the 5th Phase of MTN Foundation Disability Support Programme, Kogi State…at the weekend.

NDLEA arrested 577 drug suspects in 2015 Wole Shadare

total of 577 drug suspects were arrested by two commands of the National Drug Law Enforcement Agency in 2015. While 438 drug suspects were arrested by the Lagos command of the Agency between January and November 2015, the airport command arrested 139 suspects same period. The Lagos State commander of the NDLEA, Aliyu Sule, who disclosed this in an interview in Lagos, on the activities of his command in 2015, also disclosed that a total of 7315 kilograms (over 7 tonnes ) of various drugs were seized during the period. The breakdown showed that cannabis 7313. 06 kilo grams, Heroine 413.5 grams, Cannabis sativa 480 grams were seized. Sule disclosed that there has been a drop in the number of arrests this year compared to the previous years, adding that the command was becoming more pro-

active than before in trailing suspects. According to him, the NDLEA Lagos command between 2011 and 2012 made a seizure of drugs between 10 tonnes and eight tonnes compared to the seven tonnes this year. The commander explained that the command has continued to swoop at the drugs suspects hideout and mount road blocks on the highways to arrest suspects, adding that it was responsible for the decline. He appealed to Nigerians to cooperate with

NDLEA as the war against drug trafficking was a collective responsibility. Sule, who regretted various attacks on his men while carrying out their duties, also appealed to well meaning Nigerians, Corporate bodies and the government to come to their aid by providing logistics for them to carry out their duties more effectively. Meanwhile, the Murtala Muhammed Airport Command of the NDLEA said it also arrested 139 drug traffickers at the airport within the period under review.

Our Correspondent

Eyiboh quits PDP, joins APC

former Chairman, Committee on Media and Publicity in the House of Representatives, Hon. Eseme Eyiboh, has dumped the Peoples Democratic Party (PDP) and joined the ruling All Progressives Congress( APC). The defection, Eyiboh said, was borne out of

the failure of the PDP to live up to the vision of its founding fathers. He added that his latest move would enable him explore new grounds in his pursuit of the ideal political environment to actualise his dreams. In a statement released last night, Eyiboh said that the decision

The airport commander of NDLEA, Garba Ahmadu, also in an interview, disclosed that out of the 139 suspects, 119 were male while 20 female were apprehended. According to Ahmadu, the command made 590.9 kilo grams of seizure while between 115 and 120 cases were before the Federal High Court and 17 convicted. Ahmadu explained that the command last year made a seizure of 436,065kg while it increased this year to 590,9kg.

was predicated upon his conviction that he would be joining people of like minds in the APC to drive sustainable change that will enhance the emergence of contemporary and knowledge based social capital and new economic order. “Having had the privilege of the membership

‘Nigerians will begin to feel change this year’ Babatope Okeowo Akure

Federal lawmaker representing Akoko South East/Akoko South West Federal Constituency at the House of Representatives, Hon. Kolawole Babatunde, yesterday, said Nigerians will start to feel the change promised by All Progressives Congress (APC) when the government starts to implement its own budget. Babatunde, who spoke with reporters in Akure, the Ondo State capital, said President Muhammadu Buhari could not begin the materialization of his promises immediately he took over power just because the budget when he assumed office was visionless. The lawmaker described 2016 budget as a budget of optimism and assured Nigerians that all promises made by APC during the last general elections’ campaign would soon materialize. He also commended Buhari for stating in the budget that about N2trillion would be borrowed to finance the budget, saying no nation can do without borrowing, except it does not want to develop. His words: “The 2015 budget could be said not to have impacted on the lives of Nigerians at all. In the first instance, the Capital Component (N557 billion) which was 16 per cent of the budget was too low to be effective.”

Osun labour union loses boss Adeolu Adeyemo Osogbo

ragedy yesterday struck in the circle of Labour movement in Osun State when a former chairman of Trade Union Congress (TUC), Mr. Francis Oladele Adetunji, gave up the ghost after being hospitalized for some days in an undisclosed hospital. He was being treated for an unknown sickness. Sources close to the union disclosed to New Telegraph that the deceased before his death has been battling with of Peoples Democratic Party which platform I became its State Financial Secretary, Executive Chairman, Akwa Ibom Ethical and Attitudinal Reorientation Commission (EARCOM)and later member of the House of Representatives bespeaks the foundational vision of the progenitors of PDP as a leadership recruitment nursery.”

yet to be disclosed ailment which had even taken him from one hospital to the other in a bid to get medical solution to his sickness. One Adebayo, who claimed to be one of the deceased family close associates, said tears had rolled down from their eyes uncontrollably when the shocking news of his demise came to them. Adebayo stated that, drugs worth millions of naira had been used by Adetunji thinking that it would cure his sickness until his untimely death. While confirming his death, the Chairman, Nigeria Union of Teachers in the state, Comrade Waheed Wakil, said Adetunji died on yesterday morning. According to him:” The remains of Adetunji had been deposited at a morgue in Osogbo. However, countless sympathizers have stormed his residence, located along Osogbo/ Ilesa road to commiserate with the family of the departed soul.

NEW TELEGRAPH monday, january 4, 2016

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national

Ambode: Lagos won't stop booming Muritala Ayinla

overnor Akinwunmi Ambode of Lagos State, yesterday, assured residents in the state that in spite of the bleak economic outlook predicted in many quarters, Lagos State will grow in leaps and bounds and take its rightful place among the major citystates of the world. The governor, who spoke at the 2016 annual Thanks Giving Ceremony presided by the General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, said that the state's development will not be affected by the bleak economic predictions. He said:" This year, despite the bleak economic outlook predicted in many quarters, Lagos State will grow in leaps and bounds and take its rightful place among the major citystates of the world. Our youths will become gainfully employed. Our young girls and women will be protected and encouraged to give their best. Our entrepreneurs will experience a boom and our state will work for everyone. We are determined and God's willing, we shall achieve all-inclusive progress and prosperity." He described the annual Thanksgiving Ceremony as an acknowledgment of the overriding power of God in the affairs of men and the need for the state

to trust in God's grace and benevolence as a government and people. He added:"We are gathered this evening in thanksgiving to the Almighty for the grace to witness the beginning of 2016 This annual thanksgiving has become a tradition where we come together to sing the praise of God for the continuous peace and prosperity of our dear state.” The governor added that in 2015, the nation witnessed general election which saw a peaceful transition for the first

time ever, from one civilian government to another, despite the predictions of anarchy and possible unrest. Ambode said that despite prediction of bloodshed and possible breakup, the nation remained more united and committed to restoring the lost glories. He added: "The fact we are gathered here is enough proof that we are covered under the banner of the Lord's grace and that He surely answers prayers when He is called upon. It is with this abiding

faith that we call on Him as we commence another journey in 2016." At the inter-denomination ceremony, prayers were offered for the state Executive, Legislature and Judiciary as well as the civil service in the state. Dignitaries at the event included: Rev. E.O Adeboye, Bishop Mike Okonkwo of The Redeemed Evangelical Mission, TREM; Rev. Mercy Ezekiel of the Christ Pentecostal Mission, CPM; wife of the Governor, Bolanle Ambode; wife of the Speaker, Lagos State House of Assem-

pending time with loved ones with dementia is important even after they fail to recognise the faces of friends and family, a dementia charity has confirmed. To this end, the charity is calling on people to visit friends and relatives with dementia regularly and help them take part in activities they enjoy. Such activities will help to stimulate feelings of happiness in them. Dementia is an overall term that describe a wide

L-R: Founder/Sponsor of Mark D'ball Basketball Tournament, Senator David Mark; his son, Mark; his wife, Helen and Coordinator of Mark D'ball Tournament, Mr. Igoche Mark, at the grand finale of the 2015 Mark D' Ball Basketball Competition in Otukpo…yesterday. PHOTO: NAN

range of symptoms associated with a decline in memory or other thinking skills severe enough to reduce a person's ability to perform everyday activities. Alzheimer's disease accounts for 60 to 80 per cent of Dementia cases. Although, a survey found that 42 per cent of the public think there is no point in keeping up contact at this stage, the Alzheimer's Society said family visits stimulated feelings of happiness, comfort and security in people with dementia.

Even as their poor condition progresses, it said people with dementia can still hold an "emotional memory". This means they continue to feel happy long after a visit or experience that they may have forgotten. In a separate survey by the charity of 300 people affected by dementia, more than half said they were no longer taking part in any, or hardly any, social activities. And 64 per cent said they felt isolated following their diagnosis.

Jeremy Hughes, chief executive of Alzheimer's Society, said: "After spending time with friends and family over the festive period, New Year can be a bleak and lonely time for people with dementia and their carers. It is so important for people with dementia to feel connected throughout the year. "Spending time with loved ones and taking part in meaningful activities can have a powerful and positive impact, even if they don't remember the event itself."

2016: Nigeria will be better, says Plateau APC chair Musa Pam Jos

he Chairman of All Progressives Congress (APC) Plateau State, Hon. Letep Dabang, has expressed high hopes that Nigerians will witness good things in 2016 with the form of policy

Lawyers in the FCT yesterday expressed mixed feelings over the Federal Government's decision not to consider plea-bargain being contemplated by treasury looters and their cronies. The News Agency of Nigeria (NAN) recalls that the Attorney General of the Federation, Mallam Abubakar Malami, had declared that the Federal Government was more interested in recovering to the last kobo, all public funds stolen and stashed away by top politicians and their cronies under the guise of arms purchase. The government said that such plea bargain only allowed looters to go away with stolen public assets. Speaking with NAN in Abuja, a lawyer, Mr Silas Onu, said that government's stand was in order because plea-bargain was unconstitutional. “Plea-bargain is not in Nigerian laws and so the refusal of the government to subscribe to it is not misplaced; government is only strictly following the laws. “If you remember, the former Chief Justice of the Federation, Justice Dahiru Musdapher, spoke about the illegality of plea-bargain. “EFCC just invented a legal proceeding that is not known to our laws; and the way we even apply it in Nigeria is not as it should be."

change OF NAME

Visits help people with dementia — Study Appolonia Adeyemi

bly, Olusola Obasa; Most Rev. Ephraim Ademowo and Archbishop Adewale Martins. There are also Chief Kemi Nelson, All Progressives Congress, APC Women Leader in Lagos; Rev. Felix Meduoye, General Overseer, Foursquare Gospel Church; Chief Judge of Lagos State, Olufunmilayo Atilade; Alabi David, Chairman, Conference 57; Rev. Moses Aransiola; Pastor Wale Adefarasin of the Guiding Light Assembly, among others. Mixed reactions trail FG's stance on avoid pleabargain

approaches of the APC administrations at the center and in Plateau State. Dabang, while speaking with New Telegraph, in Jos, yesterday, said his expectations for the country, especially, Plateau State, is that the economy would improve and that will eliminate the current

suffering of the people. He said: “My expectations for Nigeria and Plateau State in 2016, is that 2016 will be better, as the economy will improve. With the anticorruption policy of the APC government and the way the process is being driven concerning stolen and looted funds, I

believe that people are going to take governance as a serious business, as it is not going to be business as usual. In 2016, it is not going to be governance by proxy or by extended family members. People are going to be committed to the duties in government by trying to give in their best".

Osun doctors allege stoppage of salaries Adeolu Adeyemo Osogbo

resident of Association Of Resident Doctors in Osun State, Dr. Owolabi Adeyinka, yesterday accused the state Governor,Mr. Rauf Aregbesola of stopping his members’ salaries. He said it was as a result of the on-going strike action embarked upon by them to fight for their unpaid accumulated entitlements. The president, who made this known in an interview with New Telegraph in Osogbo, said that, though the government did not issue an official circular on this bu, it was technically carried out by him. According to him, the state government paid their half salaries last in October last year and withheld all their legitimate entitlements.

Semasa-Talabi

I, formerly known and addressed as Kasali Saheedat Adetoro Adejoke and Esubiyi Saheedat Adetoro Adejoke now wish to be known and addressed as Semasa-Talabi Adetoro Adejoke. All former documents remain valid. General public should take note.

Audu

I, formerly known and addressed as Abdullahi Roki Omoyi now wish to be known and addressed as Audu Osagi Moyi. My real date of birth is 19th June, 1973. All former documents remain valid. General public should take note.

Kareem

I, formerly known and addressed as Munirat Balogun now wish to be known and addressed as Bintu Fatimah Kareem. All former documents remain valid. General public should take note.

Arosoye

I, formerly known and addressed as Arosoye Ayomide now wish to be known and addressed as Arosoye Bukola Victoria. All former documents remain valid. General public should take note.

Oginni

I, formerly known and addressed as Folorunsho Olumide Samson now wish to be known and addressed as Oginni Olumide Samson. All former documents remain valid. General take note.

RABIU

I, formerly known and addressed as Muhammed Jamilu Mallami now wish to be known and addressed as Rabiu Jamilu Mallami. All former documents remain valid. General take note.

MONDAY,JANUARY 4, 2016 NEW TELEGRAPH

Metro

Traders weep as fire guts Niger market

Dan Atori MINNA

ire yesterday razed the popular Abdulkadir Abdullahi Kure UltraModern Market in Minna, Niger State destroyed cash, property and goods worth millions of naira. The incident, which occurred around 1am, was blamed on the use of generators because as at the time of the incident there was no electricity supply. The fire affected 48 shops. Some of the victims expressed shock over the incident, which they described as unfortunate. One of the victims, Mrs Anne Ogale, who could not control her tears, said her husband was ill. She added that she was the one feeding the family paying their children’s school fees from what she made at the market. Another shop owner, Alhaji Babale Abubakar, disclosed that the firefighters had difficulty accessing the market to combat the fire. He said: “We have earlier complained of lack of access roads in the case of incidents like this because men of the fire service came but could not

The burnt market

do anything to save the situation.” The building, which went up in flames, housed the 48 shops where majority of the traders sell textiles, sewing materials and sewing machines.

Investigation showed that most of the victims lost millions of naira in cash because they could not go to the bank to deposit money because of public holidays and the weekend. One of the victims, who lost

equivalent of about N40 million cash in dollars, Alhaji Salisu, was said to have collapsed on his arrival at the market and was rushed to an unidentified hospital for urgent attention.

A witness told our correspondent that Salisu had changed the currency to travel to Togo between yesterday and today (Monday) to purchase goods. The victims appealed to the state government and relevant agencies to, as a matter of urgency, come to their aid. “We are appealing to government at all levels and other relevant bodies to assist us renovate the shops urgently before other assistance can be rendered, so that we can start afresh because we have lost everything,” one of them said. The state Deputy Governor, Alhaji Ahmed Ketso, had earlier visited the market to sympathise with the victims. He also held a meeting with the executive of the market, the National Emergency Management Agency (NEMA) and the State Emergency Management Agency (SEMA) to take inventory of their losses, with the view of coming to their aid soon. Ketso directed them to compile the list and channel it through Chanchaga Local Government to SEMA, which would forward it to the state government for appropriate action. While urging the victims to take it in good faith, he prayed that such would not happen again.

We’ll overrun Sambisa, hunters tell military H

unters in Borno State yesterday called on the military to allow them join in the war against insurgents in Sambisa Forest. The Borno Emir of the Hunters, Malam Mai-Gana Mai-Durma, made the appeal in Maiduguri while addressing journalists. Mai-Durma, according to

ABIODUN BELLO FEATURES Editor

abiodun.bello@newtelegraphonline.com

the News Agency of Nigeria (NAN), said the call became imperative because the hunters were familiar with the terrain at the dreaded forest, the hideout and operational base of the terrorists. He said: “We are appealing to the military authorities to allow us join the fight against Boko Haram at the Sambisa forest. “We are ready to pursue the terrorists because we know the terrain very well.” Mai-Dur ma said that the military should align them with members of the vigilance group, popularly known as the Civilian JTF, for effective result. He added: “We will overrun Sambisa in partnership with members of the Civilian JTF if given the opportunity.

“This will help to complement the effort of military in the anti-terrorism operation.” The emir of Borno State hunters regretted that his members from the 27 local government areas of the state had been rendered idle by the Boko Haram members. He said: “Hunters from all the 27 Borno local government areas are all in Maiduguri with our leaders doing nothing at present because of Boko Haram. “Rather than idling away, we will want to assist the military in crushing Boko Haram terrorists.” Mai-Durma also appealed to the Shehu of Borno, Alhaji Abubakar Ibn Garbai, to assist in forwarding the request to the military authorities for consideration.

Chief of Defence Staff, Gen. Abayomi Olonisakin

Metro

NEW TELEGRAPH MONDAY,JANUARY 4, 2016

City Briefs Toddler dies in Warri fire

Girl, 19, commits suicide as boyfriend rejects pregnancy

Joe Obende

Uchenna Inya

Warri

ire which broke out on New Year’s Eve in Warri, Delta State burnt to death a four-year-old girl, identified as Favour, who was sleeping alone. Favour was said to be left in the room by her mother, Elizabeth Paul, when the fire broke out. The fire, which engulfed parts of Makro Street in Okumagba Layout, affected a school, a Deeper Life Bible Church and seven houses. One of the affected persons, Aba Idogun, said the fire started from a candle stick. The candle, he said, was lit by a neighbour who slept off. Idogun, an information officer with a government ministry in Warri, said Favour was burnt beyond recognition. Another affected person, a poultry farmer, Emmanuel Nwodo, said the fire started from his neighbour’s apartment.

ABAKALIKI

19-year-old lady, identified simply as Chiamaka, at the weekend committed suicide for being pregnant. Chiamaka took her life in her residence at No. 17 Nwike Street, Abakaliki, Ebonyi State. The lady, who hailed from Ohaozara Local Government Area of the state, was said to have hanged herself after her parents told her that they could not buy her what she had demanded for the Yuletide because they discovered she was pregnant. A source close to the family said Chiamaka had, after discovering that she was pregnant, informed her boyfriend responsible for the pregnancy and who also lives in the same building

but the boy denied being responsible for the pregnancy. “Chiamaka was not happy that her boyfriend denied her in her trying mo-

ment because her parents threatened to sanction her for being pregnant. “The parents were very angry about it because we, the neighbours, always hear when they quarrelled with her because of the pregnancy and she thought the best thing to do was to go to her boyfriend, at least to have a rest of mind. “But she was disappointed that the boy denied her and I think this might be the reason why she hanged herself,” the source added. When our correspondent visited the house, most of the residents had fled the building for fear of arrest while residents of the street were discussing the incident in groups. When contacted, the state Police Public Relations Officer (PPRO), Assistant Superintendent of Police (ASP) George Okafor, said he was yet to receive official report on the matter.

14 years on death row, man seeks minister’s help Nasarawa LG distributes Fleeing suspect held have already over-stretched At the end of the day we did for lover’s death Muhammad Kabir tricycles to youths the two solitude compart- not see any lawyer and they Kano

Cheke Emmanuel LAFIA

n line with efforts to empower the youth, the Chairman, Akwanga Local Government Area of Nasarawa State, Mr Abashiya Koto, has distributed 10 tricycles to some youths. The tricycles tagged: “Keke Koto,” worth about N4.5 million were purchased by the local government in collaboration with WAILA Micro Finance Bank. Speaking at the distribution ceremony at Akwanga Local Government Secretariat, Koto said the gesture was in line with the determination of his administration to improve the welfare of the youth. The chairman disclosed the local government had fashioned some policies and programmes that would provide the necessary springboard for economic development of the people. According to him, each beneficiary is expected to remit N13,000 monthly for a period of 10 months to cover the cost of N450,000 being cost of one tricycle.

Mimiko’s wife donates to first baby of the year Babatope Okeowo Akure

ife of Ondo State governor, Mrs Olukemi Mimiko, at the weekend paid a visit to the State Specialist Hospital, Akure and donated gift items to the first baby of the year, Baby Adewon, and the baby’s mother, Mrs Omoboyede Adewon. She also donated gift items to the first baby born on Christmas Day, Oluwadare and many others. Mimiko, who was on the visit with wife of the deputy governor, Alhaja Fatimat Oluboyo, and the Commissioner for Health, Dr Dayo Adeyanju, among other top government functionaries, thanked the Lord on behalf of her family and the people of the state to have witnessed a wonderful 2015 and be alive to start the New Year. She said: “We received over 10 babies, all of them looking very healthy and fresh.”

Juliana Francis

nternational Police (Interpol), Benin Republic, have arrested the man who allegedly killed his live-in-lover on Christmas Day at Festac area of Lagos State and fled. The suspect, Monday Hounga, 28, was arrested on December 31, 2015, about 11:45a.m. by Nigeria/Benin joint patrol. On Friday, he was handed over to the Nigeria Police, the State Criminal Investigations Department (SCID), Panti, Yaba, Lagos State. Hounga is, however, denying being responsible for the murder of his girlfriend. Fielding questions from detectives, Hounga said he and his lover, Cecilia Joseph, 21, were attacked and stabbed by armed robbers. The suspect, on Christmas Day, was said to have stabbed Joseph to death and fled to Benin Republic. A resident, who pleaded anonymity, said the lovers quarrelled for over an hour and later resorted to fighting after Joseph received a phone call from another man in front of Hounga. After the call, Joseph wanted to go out, but Hounga ordered her not to. He felt she was going out to meet the caller. Joseph ignored the order and went on a date with the caller. This apparently infuriated Hounga. When Joseph returned, the lovers embarked on another round of fighting. The fight was said to have lasted till midnight.

did not allow us to defend ourselves before conviction and sentenced us to death. ome condemned prisPlease come to our aid.” oners, who have spent While conducting the several years in solitary minister round the ancient confinement at the Kano prison built more than 100 Central Prison, Kano State, years ago with dilapidated have appealed to the Federal structures, the Controller Government to review their of Kano Prison, Ahmad cases. Abubakar, disclosed that the One of the 92 condemned prison was presently housprisoners, Abubakar ing 3,500 inmates against Aminu, said he had been normal capacity of 1,500. on death row for 14 years. According to him, 1,066 Aminu said he was arof the inmates are still rested at Hadejia in Jigawa awaiting trial while 695 are State for a minor case of convicted. stealing duck and a car raAbubakar added that dio but later had his case more than 500 already dischanged to armed robbery. charged with fine not more The stay of the 92 conthan N5,000 were still landemned persons is said to guishing in prison. The controller of prison told Dambazzau that the prison had no operational vehicles, accommodation and facilities. This, according to him, is currently affecting smooth running of the prison. The minister, who expressed concern over the condition of the prison, said government was ready to decongest and rehabilitate the facility as well as improve the welfare of prison Some prison staff in front of Kano Central Prison. PHOTO: ONLINE staff.

ments originally meant to contain only 42 condemned prisoners. Aminu, who used the visit of the Minister of Interior, General Abdulrahman Dambazzau (rtd), to the prison on Friday, urged the minister to help him. He said: “We were sentenced to death without killing anybody. We were arrested for stealing a duck and a car radio which they valued at N3,000. But when the police framed us up and took us to court, we were charged for armed robbery. “They refused to allow us to hire a lawyer after assuring us they would provide government lawyer for us.

Youths kill two, injure others in Cross River Clement James Calabar

risis over chieftaincy matters in Odukpani, Odukpani Local Government Area of Cross River State has claimed two lives while many others received various machete cuts. It was learnt at the weekend that the crisis is between youths in the Efik-speaking area of New Netim and their Odukpani Qua counterparts. According to a youth in

Odukpani, who gave his name as Asuquo, the crisis started on December 25 when it was rumoured that somebody from Odukpani Qua was slated for a chieftaincy title which elicited anger from youths of New Netim. The resulting confrontation claimed the lives of two people, each from both sides, while several others were wounded. But in his reaction, the Chairman of Odukpani Local Government Area, Elder Bassey Eyo, denied that the cri-

sis was as a result of chieftaincy tussle. Eyo said some youths had gone to drink on Christmas Day when an argument ensued among them. He said: “The argument degenerated to the point that weapons were used and guns were shot. I can confirm that two people have been killed as a result but I cannot confirm the death of the third person.” Eyo said the youth could be cult members who were taking revenge on one another.

He added: “I think some of these youths may be cult members and that is why they have gone as far as this but this has nothing to do with chieftaincy issue. I am talking to you as the chairman of the council and there is nothing like that.” Eyo, however, said the police have stepped into the matter and that some arrests had been made. When contacted, the state Police Public Relations Officer (PPRO), ASP John Eluu, confirmed the crisis.

News

MONDAY,JANUARY 4, 2016 NEW TELEGRAPH

NATIONAL

TUC berates NASS members over proposed 469 cars

lSays lawmakers lack conscience Yekeen Nurudeen ABUJA

he Trade Union Congress (TUC) has berated members of the National Assembly over their proposal to buy 469 exotic cars at an estimated cost of N47.5billion. The TUC described such plan as misplaced priority. The TUC in a statement issued in Abuja yesterday

by its President, Comrade Bobboi Kaigama, titled “469 N’ASSEMBLY CARS: MISPLACED PRIORITY”, lamented that the lawmakers did not really know the task before them and the country with such ridiculous plan. It said using almost 40 per cent of the 2016 appropriation for cars alone, would amount to misplaced priority, noting that President Muhammadu Buhari should

stand his ground and discourage such frivolous spending. TUC also argued that the free-fall of the naira, poor medical facilities, dearth of manufacturing companies, insecurity of lives and properties, among other social crisis, were enough reasons to prick the conscience of the legislators against such action. “Where is the conscience of the so-called lawmakers? Where are

the good roads to drive these cars? It appears that the privileged in this country do not even consider the less-privileged? “Spending N47.5billion for cars alone, to us, is senseless and peak of insensitivity, and we support President Buhari to stand his ground on the issue. We are definitely not against the President holding a closed-door meeting with the lawmakers but all we are saying is no to such frivolous expenses. “Lawmakers ride in public transportation in

most developed countries to attend to state matters, despite the affluence of their country. The reason our leaders do ridiculous things beats our imagination. We are pained by the fact that it appears the lawmakers do not really know the task before them and the country. “For over two months running, the country has been experiencing

FG targeting ICT for job creation, says minister Kunle Azeez

Minister of Transport, Rotimi Amaechi (second right|); state’s governorship candidate, Dakuku Peterside and other APC chieftains on arrival at Port Harcourt, Rivers State …yesterday.

Importers may close shop over Customs’ high tariff Wole Shadare

he chairman of National Association of Government Freight Forwarders (NAGAFF), Murtala Muhammed Airport, Ikeja, Segun Musa, has said that a lot of importers will close shop in the country this year following tough operating environment. Speaking in Lagos, yesterday, Musa declared that government’s policy through the Nigerian Customs officials has forced so many importers out of business in Nigeria while others have relocated out of the country in the last few months. He alleged that the Nigeria Customs Service (NCS) have mismanaged the ports across the country, adding that the revenue leakage was more than the money collected into the coffers of the government. According to the NAGAFF chairman, high import tariff by Customs was not favourable to importers and it has led to poor relationship between importers and the Customs.

“Customs officers mismanaged the ports; they have not brought to table any meaningful policy that will actually drive the industry. Because they are saddled with the responsibility of checking revenue being collected by the freight forwarders, they actually mismanaged the ports. The revenue leakage is more than the revenue collected in Nigeria, the tariff on imports is so high and that has taken a lot of business out Nigeria”. He called on the Federal Government to engage

private sector in policy formulations in order to get things right, stressing that importation was not responsible for the demise of some major industries in the country but as a result of bad roads, insecurity and poor power generation. He explained that they will soon go into a regime of external tariff where every importer is at liberty to import goods and pay tariff anywhere in the world and go to the border to clear their goods without paying to customs.

FCT Minister warns staff against disruption in water supply Yekeen Nurudeen ABUJA

he Minister of the Federal Capital Territory (FCT), Mallam Muhammad Musa Bello has warned staff of the FCT Water Board that he would not entertain any excuse for disruption of water supply to Abuja and environs. He said the FCT Administration would work assiduously to improve the supply of po-

table water to the entire residents of the Federal Capital City in line with the change mantra of the Federal Government. Mallam Bello gave the warning at the weekend, when he inspected some strategic water infrastructure at the Lower Usuma Dam, in Abuja. The Minister charged the staff of the FCT Water Board to do everything possible towards improving on services to the residents of the Territory.

chronic fuel scarcity, the free-fall of the naira, poor health facilities, glorified primary schools as universities, closure of manufacturing companies, insecurity of lives and properties, which essentially is caused by unemployment, our case has become so deplorable that we have now become a laughing stock among the comity of nations.”

inister of Communications, Mr. Adebayo Shittu has said the Information and Communication Technology (ICT) industry is being targeted by the Federal Government to create employment. The minister stated this in a statement signed by his Special Assistant on Media, Mr. Victor Oluwadamilare, and made available to New Telegraphyesterday. Shittu explained that the government will ensure synergy in the communication sector so as to give room for Nigerians to take full advantage of the potentials in the industry. “The various complaints of telecom subscribers across board and the challenges besetting telecom operators in Nigeria are being looked into

holistically with a view to finding lasting solutions in conjunction with relevant stakeholders, within the possible shortest time,” he said. He added that the “telecom sector holds a lot of promise for the economic growth of Nigeria in terms of revenue generation and massive employment generation, if all the industry’s potentials and ICT’s limitless opportunities are well harnessed”. Shittu described his teeming supporters, in particular, Oyo State indigenes and residents in general, as his greatest asset. The minister, while reflecting on the quality support he had enjoyed from his supporters over the years and in particular the momentous events of the Year 2015, said he realized the full import of the masses support for him and all he stands for.

Lasun urges Nigerians to support FG Philip Nyam ABUJA

eputy Speaker of the House of Representatives, Hon Sulaimon Lasun Yussuff has implored Nigerians to stand for the betterment of the nation, urging them to contribute their quota so that Nigeria could be great. Lasun who stated this in Ibadan during 10th year remembrance fidau for late Alhaja Fatima Abeni Akinade-Fijabi, mother of Hon Saheed Akinade-fijabi, Chairman of the House He said that his administration was not prepared to accept excuses but to diligently work to satisfy the yearnings of the people, which is the adequate water supply to all the nooks and crannies of the Federal Capital Territory. He further assured that the FCT Administration under his leadership will support the management of the Board to improve water supply in Abuja and its environs, and urged the Board to also think of ways of providing safe and clean water to the rural areas.

Committee on Communication, maintained that it is necessary at this point to stand up for the country to develop and compete with other nations of the world. “I want to let Nigerians know that we have to stand up for our country and make sure we develop it. The citizens of the other nations at one point or the other stood up for their countries and contributed to the development. “That is why they are where they are today, therefore I am imploring Nigerians to stand for the betterment of the nation

and contribute their own quota so that the country could be great,” he said. The deputy speaker added, “We have a lot of ups and downs and I know with time, with the support of everybody, we will be able to get to where we desire and deserve to be as a country. “I am urging Nigerians to be patient with President Muhammadu Buhari, to be patient with All Progressive Party, and also remember that they must contribute their own quota and make sure Nigeria becomes a great nation.

Adebule commends Glo, others for success of One Lagos Fiesta

agos State Deputy Governor, Dr. Oluranti Adebule has commended Nigeria’s next generation network, Globacom for supporting the execution of the One Lagos Fiesta, an innovative five-day long end-of-year celebrations in five locations across Lagos State. She gave the commendation as the One Lagos Fiesta climaxed with a countdown and a spectacular fireworks display simultaneously on the stroke of

midnight of the New Year at five centres across Lagos. The centres include Bar Beach, which was personally graced by the Governor of Lagos State, Mr. Akinwunmi Ambode. The other centres are: Agege, Badagry, Epe, and Ikorodu. Dr. Adebule expressed appreciation to Globacom and other sponsors for keying into the One Lagos Fiesta project, describing their contributions as instrumental to the success of the massive project.

NEW TELEGRAPH MONDAY, JANUARY 4, 2016

Dasukigate

PDP leaders didn’t know money was from arms fund –Babatope

Guber poll

Taraba: Al-Hassan fights on

Politics

2019: Will Atiku put ambition on hold? Former Vice President Atiku Abubakar has never hidden his ambition to lead Nigeria. He has made three unsuccessful attempts at the presidency. He is yet to declare for the 2019 elections but a rumoured ambition has put him on the spot, FELIX NWANERI reports

hat is former Vice President Atiku Abubakar up to and who is afraid of him? These are questions political analysts and observers are asking over recent developments in the polity as the race for the 2019 presidency gradually begins. The former vice president is alleged to have recently hosted political meetings at Burj Al-Arab, Dubai, United Arab Emirates, apparently to revive his political machinery ahead of the next presidential election. Though details or identities of those who attended the said meetings were not disclosed by those who made allegation, Atiku however, described the rumour as the handiwork of political mischief makers, who want to draw a wedge between him and President Muhammadu Buhari. In a statement signed by his Media Adviser, Paul Ibe, the former vice president said he was embarrassed by the deliberate falsehoods being spread against him by mischief makers who are bent on causing distraction for Buhari at a time all energies should be channelled into helping the president actualise his change agenda. He explained that he is in Dubai on medical ground, which should not be politicised by anybody to

FELIX NWANERI

GROUP PoLITICAL EDITOR nwanerif@newtelegraphonline.com

Buhari and Atiku during the 2015 presidential electioneering

achieve sinister objectives, adding that the success of the Buhari administration has been his preoccupation, and that any true All Progressives Congress (APC) member should have the same zeal. His words: “Whether at home or abroad, the Turaki is preoccupied with his unassailable support to President Buhari and his administration, especially in this critical time, as it works assiduously to turn the fortunes of our dear country around and make Nigeria work for the greater good of Nigerians. “This is yet another plot of the enemies of our country and democracy to divide, divert attention and distract the APC in its avowed commitment to secure the country, provide jobs for the mass of unemployed youths, build needed critical infrastructure, enthrone a regime of probity and accountability and pull the country out of the economic woods it has been consigned to by locust years of mismanagement.” So far, no one has come out to disprove Atiku’s explanation, but some say that the allegation against him may have stemmed from the recent declaration by the leadership of the Peoples Democratic Party (PDP) that it is planning to reach out to the party’s founding fathers like Atiku, former military president, Ibrahim Babangida and former Vice-President Alex Ekwueme ahead of the 2019 elections.

Year Timeline of Atiku’s presidential bids 1991

Contested SDP presidential primaries but lost to Chief MKO Abiola

1999

Won governorship election but was picked by Obasanjo as running mate for the presidency

2003

Shunned an offer to contest the PDP presidential primaries against Obasanjo

2007

Contested the presidential election on AC platform but lost to Yar’Adua

2011

Contested PDP presidential primaries but lost to Jonathan

2015 2019

Contested APC presidential primaries but lost to Buhari ??

This is yet another plot of the enemies of our country... to distract the APC

Secretary of the PDP Board of Trustees (BoT), Senator Walid Jubrin, who disclosed this after the board’s recent meeting, said the party was ready to dialogue with the founding fathers in order to ensure their return to help restore the glory days of PDP. He said: “As the conscience of the party, we are trying to dialogue with the aggrieved people. We are ready to dialogue with the founding fathers of this party, immediately after our meeting on of January 14 and having come with a new chairman.” Apparently, this move may have prompted some elements in the APC, who have started mobilising for Buhari’s second term to view him with him suspicion.

The Turaki Adamawa has never pretended about occupying the country’s number one position. After retiring from the Customs Service in 1989, he ventured into business and politics and ran for the office of governor in the then Gongola State (now Adamawa and Taraba States) in 1991, but was not successful. He contested for the Presidency in 1993, placing third after Moshood Abiola and Babagana Kingibe in the Social Democratic Party (SDP) primaries. In 1998, he was elected governor of Adamawa State. While still Governor-elect, he was selected by the PDP presidential candidate, Chief Olusegun Obasanjo as his running mate. The duo went on to win the election in February 1999. After his first term as vice president, some governors elected on the platform of the then ruling party wanted to deny Obasanjo a second term. The plan was to hand Atiku the party’s presidential ticket in the 2003 general elections but he opted for a joint ticket with his principal and both won the election. However, the botched plot pitched him against Obasanjo and the cold war that ensued after their inauguration, degenerated to bitter political battle and by 2006, Atiku declared his ambition to succeed Obasanjo. CONTINUED ON PAGE 14

Monday Interview

Politics Monday Interview

MONDAY, JANUARY 4, 2016 NEW TELEGRAPH

PDP leaders didn’t know money was from arms fund –Babatope Chief Ebenezer Babatope is a member of the Board of Trustees (BoT) of the Peoples Democratic Party (PDP) and former Minister of Transportation. In this interview with TEMITOPE OGUNBANKE, he speaks on anti-corruption war, the arms procurement scandal and the 2015 general elections

What is your take on the revelations over the arms procurement scandal involving the former National Security Adviser (NSA), Col. Sambo Dasuki (rtd)? We have not heard the true story on the matter. What we are hearing is what media is reporting. I am a member of the Peoples Democratic Party (PDP) Board of Trustees (BoT) and most of the things the press is talking about now is very strange to me. Nobody in his senses will open his hands and collect money from what is called Dasukigate. Every political party in the world has the responsibility to carter for itself in elections; that is to prepare itself for elections. So, I hope most of the things they are talking about are not things that are mixed up with political party organisations. Let me give you an example; I was a member of the South-West zone of Contact and Mobilisation Committee, which was headed by Chief Bode George. Nobody told anyone of us that we were being given money from Dasukigate or whatever. I know Dasuki very well in terms of his name and the office he held but I have never came across Dasuki in terms of giving money or anything. And when we talk about Dasukigate, it is a terrible thing to hear. Bode George has given a right answer. The Contact and Mobilisation Committee, which composed 18 members in each geo-political zone was inaugurated by former president and PDP leader, Dr. Goodluck Jonathan in Abuja before the last general elections and nobody ever told us that he is sending money through Dasuki. But Bode George said $30,000 was given to the committee That must be. Even if it is not $30,000, it is not the N100 million they are talking about. N100 million to do what? If 18 people shared N100 million, each person will got about N5 million naira. It never happened. I have never in my life

Babatope

time held N5 million in my hand to say this is my own money. So, apparently, I want to appeal to the All Progressives Congress (APC) and President Muhammadu Buhari, that much as the battle against corruption is something which must be supported by all reasonable people, they must ensure that they don’t reduce it to a ridiculous level of drawing people that have nothing to do with it into the matter. They should not drag innocent people into what they are doing. Was money actually released to members of the committee? If money was given to the party, it was for party organisation but not the N100 million they are talking about. How much was actually released to the committee? I don’t know. Bode George was the leader and I don’t know what was released. But on my own, I have never in my lifetime got anything in respect to the N100 million because if you share N100 million between 18 people, each person is expected to get over N5 million. I have never in my life time got that kind of money. How much was actually shared by members of the committee from the arms fund? I don’t know. I am not a mem-

ber of the committee tackling Boko Haram. I am a member of the PDP and Contact and Mobilisation Committee of the party, so how do I know what is happening about somebody given money to people?

Let him send them to jail. It will be in his record ...He sent me to prison and I spent 21 months without any trial

But the former Minister of State for Finance, Ambassador Bashir Yuguda, said he released N100 million to the committee while Bode George said he collected only $30,000 on behalf of the committee. There was also an allegation that N10 billion was used to settle PDP delegates during the party’s convention and that money was released for special prayers and to fund the campaign... I know money was released to the party but nobody mentioned that money was being released to the party from money meant for purchasing of arms and ammunition to fight Boko Haram. At 73, I will never collect money that I don’t know its source or collect money from somebody I don’t know; that I have never met. I know Dasuki, but I never met Yuguda. And that is why I am saying, they must be careful not to mix up matters. I hope nobody is mixing up party organisation with what people now call Dasukigate. How does money meant for fighting Boko Haram relate to members of the political party?

But some PDP members like Attahiru Bafarawa, Raymond Dokpesi, Bode George, Tony Anenih, Jim Nwobodo, Peter Odili and Haliru Bello and others were mentioned as beneficiaries of the arms fund, and some of them have confirmed that they collected money. Let them explain themselves. Did you know as a journalist that the money allegedly released was from arms money? Do you expect the PDP members to know that the money was released from arms fund? Newspapers were also alleged to have been given some money from the fund meant to purchase arms and ammunition. The newspapers did not know where the money came from. So, these are mysteries for people to unravel. But in all these, they must never allow the innocent to suffer and they must never damage the image and character of innocent people. I never knew that Dasuki was carrying that kind of money they are talking about. He was not a PDP member; he was an official of the PDP government but not a member of the PDP. He was a public officer who was expected to be fair to all. Do you think it was right for the former NSA to release money for purposes that it was not meant for? That is meant for those who are

Monday Interview Politics

NEW TELEGRAPH MONDAY, JANUARY 4, 2016

investigating the matter to unravel. Many people don’t know about the Dasukigate until the recent revelations by some officials of the Office of the National Security Adviser and government officials in previous administration. If not for the fact that the PDP was defeated during the last general elections and some of the revelations are now coming out, nobody will talk about Dasukigate. I am not saying that there must not be systematic fight against corruption. There must be and that is why many Nigerians need to support Buhari in what he is doing but he must not cut down the green trees while the dry ones are still standing. With the revelation from the arms probe, would you still stake your neck to defend the Jonathan administration on corruption? Which administration in Nigeria has not been found to be corrupt since independence? It is just that the cases are different. If you talk about corruption, how does Dasukigate affect Jonathan’s administration? We are talking of individuals, who are accountable for their actions. Jonathan’s policies on housing and agric sectors were not disrupted because of Dasukigate. Corruption has been with us; we want to fight and lessen it, but to say that we want to eliminate it would amount to waste of time. Are you saying corruption cannot be eliminated in Nigeria? It cannot be eliminated in any part of the world not even in America. There are many ways corruption can be introduced. Corruption is in every country of the world but the degree varies because tradition and custom in those countries are able to take care of what could have been damaging effects of that. Let us build our tradition and custom along what Buhari is doing and then perfects it. Don’t you think that the issue of insurgency would have been tackled effectively if the money meant for procurement of arms and ammunition was effectively used? I am an impartial-minded Nigerian. Jonathan’s administration tried its best in fighting insurgency by buying helicopters and other equipment. If arms were not purchased to combat Boko Haram, it would have been worse than now. I was first of all thinking that the Boko Haram members were striking because of Jonathan, who was ruling the country then. Now that we have Muslim as president, it should subside, but rather it is escalating and innocent people are being killed in many parts of the country. They said they are killing because of God but God never sanctioned that. In fact, we have more problem of Boko Haram insurgency now than we ever had during Jonathan’s time. But the present administration said it is winning the war against Boko Haram? I am not saying they are not winning and may God allow them to win because if they win, Nigerians will benefits from it. But from what I am seeing, anybody saying they are winning is deceiving himself. He is living in a fools-paradise. They said they are winning and yet there were multiple bomb attacks in Borno and Adamawa states recently, which led to death of about 90 people. So, where is the win-

ning? Is it that President Buhari and the Minister of Information and Culture, Alhaji Lai Mohammed, are not being truthful with their declaration that Boko Haram has been largely defeated? When Buhari said it, I was one of those who told him to stop wasting his time. International terrorism is now in Nigeria fully. In fact the ISIS and Boko Haram are waxing stronger. Lai Mohammed is a publicist; he is a nice boy and I happened to be one of the very close people to him. I love him so much because he has handled the publicity of his party the way I did when I was in the Unity Party of Nigeria (UPN). But having said that, I told Buhari he was just joking to say everything will end on December 31. We have heard those stories before and December has come to an end and yet Boko Haram is waxing stronger. We must be very careful because it appears to me that Boko Haram may want to extend its activities across the country in one guise or the other. So, by the grace of God, Nigeria will win the war but not through empty speculations or empty media prophecies. Some PDP members have alleged that the anti-corruption war is selective. Do you share the same sentiment? That is the correct analysis because President Buhari contested election and he didn’t contest election with stones, pebbles or palm leaves. He contested election with money. So, if you are bringing ridiculous charges against the PDP members on the basis of party organisation what happens to how APC funded its campaign? Are you saying the probe should be extended to all the parties? It should be to all parties. Let us also find out how APC financed its election, who gave what. And like I have said, any country that wants to survive must invest in political parties because they are an essential part of democracy. But if you are pointing accusing fingers on somebody, saying someone gave a particular amount of money to a party or a committee, you are just wasting your time. Why are you doing that when you know that you

cannot raise your hand to God that you didn’t spend any money for election purposes? You are one of the politicians jailed for corruption during Buhari’s military regime.... Many innocent people were jailed then in the name of fighting corruption and that was why former Head of State, General Ibrahim Babangida did the right thing by setting up a committee to review detention and jail terms given to people. The chairman of the committee was from Edo State and he corrected many things. I was detained without trial and the first thing the man did was to discharge and acquit me even though Babangida had earlier released me when he found out that I did nothing wrong. So many things were done to other people too. Bisi Onabajo was freed of ridiculous charges that he wanted to enrich somebody through granting of contract by UPN governors. You don’t try people on charges that don’t have any judicial foundation.

If not for the fact that the PDP was defeated during the last general elections ...nobody will talk about Dasukigate

Would you say the president is on the same path with the ongoing probes, considering his recent statement that some looters will go to jail? Let him send them to jail. It will be in his record; he had a record before. He sent me to prison and I spent 21 months without any trial. It would be on his record. I don’t hold his sin of sending me to prison against him now because he is of the same generation with me. Buhari is only one month and nine days older than me and if you put such a man in power, you are saying I am still useful. So, I will want a member of my generation to succeed, but if he wants to make a name by sending people to ridiculous jail terms as it happened before; good luck to him. But some people are of the view that those who looted the public treasury must be punished? Why don’t you go and execute them. Ghana did the execution but Ghana is now wallowing in corruption. I am not saying that corrupt people should not be punished. The hands that steal must be cut; that is my own view. Nobody has the right to steal money meant to develop the people. But

you don’t propound a ridiculous solution and say you are fighting corruption. I read in a newspaper last week of a prophet who said the war against corruption may backfire. I believe that the prophet is a psychologist of the best order because in a developing country like Nigeria, where poverty reigns supreme, if you are not careful in fighting corruption, you may be trapped. So, we must be very careful so that the prophet would not be found to be correct in his analysis that the anti-corruption war may backfire. What I am saying is that any sensible person must support Buhari in his fight against corruption. As an individual, Buhari is winning laurels all over the country and all over the world for what he is doing, but he must do it within the realities of the socio-political situation of Nigeria inside Africa. Are you not surprised about the level of corrupt activities under Jonathan’s administration, especially the various revelations that his aides and close associates looted the treasury and abused their respective offices? It could have happened to any other person. It could even happen to Buhari, who is seen to be Mr. Clean. Have they mentioned Jonathan in what they are doing? Nobody has mentioned his name. People will continue to base their stories on speculations. When Mr. A is caught with an amount that is not defensible; whether he is in opposition or government, that person must answer to his father’s name. It has nothing to do with Jonathan. But the looting took place under his watch. Does Buhari know the entire thing that is happening under him now? He cannot because it is difficult. We are just hearing and reading someone saying he gave N500 million to somebody or N100 million to somebody. Jonathan may be reading those things the way Nigerians are also reading them. He many not know many of these things. Do you see the PDP bouncing back to dislodge the APC in 2019? By the grace of God, we are coming back to power in 2019. We are already aware of some of the dangerous things that we did in terms of party organisation and mobilisation. When I wanted to be Secretary of the PDP but was schemed out, I told those who are close to me that this is a pointer to what is going to happen in future and I think our party will have it very rough and I don’t think that we will survive it and it happened. All the elements who contributed, even those who are now in APC; they are definitely going to suffer. The PDP has had its defeat and we are correcting what we did wrong very fast. So, by the time we reach 2019, we would have corrected ourselves and come back to power because we will not do all those things that kept us far away from the people. Has the party addressed the factors that made it lose elections in 2015? We are addressing it squarely. The Board of Trustees is going to meet on January 14. The National Working Committee (NWC) has

Babatope

CONTINUED ON PAGE 15

Politics

MONDAY, JANUARY 4, 2016 NEW TELEGRAPH

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

Obasanjo’s Obstacles Obasanjo’s insistence that Atiku would not succeed him forced the latter to leave the PDP for the defunct Action Congress (AC), which handed him its presidential ticket. Despite securing the party’s ticket, another round of power play led to his exclusion from the final list of 24 candidates for the 2007 presidential election released by the Independent National Electoral Commission (INEC). INEC cited Atiku’s indictment for corruption as the reason for the omission. But Atiku headed for the court to challenge his exclusion. The matter got to the Supreme Court, which in a unanimous decision ruled that the electoral body had no power to disqualify any candidate for an election. The judgement paved the way for Atiku to contest the poll, but came a distant third. The election was won by the PDP candidate, late President Umaru Yar’Adua. He rejected the result and called for its cancellation, describing it as Nigeria’s “worst election.” After the 2007 elections, Atiku returned to the PDP in 2009. While his return was initially resisted by his state chapter of the PDP, he was granted a waiver by the party’s national leadership. That paved the way for him to contest the 2011 PDP presidential primaries. He was selected by the Northern Elders Political Leaders Forum (NPEF) led by former Minister of Finance, Mallam Adamu Ciroma, as the region’s consensus candidate but was floored at PDP’s presidential primaries alongside Mrs. Sarah Jubril by the then Acting President Goodluck Jonathan, who later went ahead to win the election. Another defection The 2011 defeat did not deter Atiku as he surfaced again in 2014 for the 2015 presidency. He had before then made good his threat of dumping the PDP should the party’s leadership fail to return to the vision of its founding fathers with his defection to the then opposition APC. He said of his defection: “As a former vice president, I am by virtue of the PDP constitution, a member of the party’s Board of Trustees and its National Executive Committee. However, I am neither invited to the meetings of those organs nor consulted on their decisions, apparently because I dared to exercise my right to contest in the party’s primary election for a chance to be its flag bearer in the 2011 elections.” Buhari snatched APC’s ticket Although many believed that Atiku would be the candidate to beat in the APC presidential primaries given his financial strength and political structure, he lost the ticket to Buhari, who enjoyed the support of party leaders and governors. The contest proved bookmakers wrong as the former vice president came a shocking third with 954 votes, trailing former Kano State governor, Senator Rabiu Kwankwaso (974 votes) and Buhari (4,430 votes). Atiku accepted the result and pledged to support the party’s choice in the election, and never reneged though some party members accused him during the campaigns of not showing much commitment.

Saraki

Obasanjo

Wamakko

2019: Options before Atiku A new battle But having ousted the PDP, a battle ensued within the APC over who gets what. The struggle was unexpected as the party was an amalgam of various parties and interests. The blocs include the Asiwaju Bola Tinubu-led Action Congress of Nigeria (ACN), Buhari-led Congress for Progressive Change (CPC), All Nigeria Peoples Party (ANPP), a faction of the All Progressives Grand Alliance (APGA) and later, a faction of the PDP led by Atiku and five governors. Though the APC leadership initially played down the squabble, it didn’t take long before it manifested. The crack was brought to the fore at the inauguration of the Eighth National Assembly on June 9, 2015, following the emergence of Senator Bukola Saraki and Hon. Yakubu Dogara as Senate President and Speaker, House of Representatives, respectively. The APC leadership had wanted Senator Ahmed Lawan and Hon. Femi Gbajabiamila for the positions but Saraki and Dogara pulled the rug off APC’s foot. It was alleged that Atiku brokered the deal that saw to their emergence. The development humbled the leadership of the ruling party and offered the opposition PDP the opportunity to clinch the position of Deputy Senate President through Senator Ike Ekweremadu. Since then, it has been an attrition war between members of the various camps in the ruling party. The battle is, however, getting messier as some leaders of the various camps have their eyes on the 2019 presidency.

All for Buhari’s second term Buhari is yet to make any declaration concerning a second term but comments by some of his loyalists indicate that he is likely to take another shot at the number one position. Proponents of Buhari’s second term are of the view that he needs to rule beyond 2019 to address the rot in the country. Senator Aliyu Wamakko, a former governor of Sokoto State, who hinted of the second term agenda, said: “To me, President Buhari must be allowed to rule beyond 2019 to address the numerous challenges bedevilling the country. Four years cannot be enough to address the

Whether at home or abroad, the Turaki is preoccupied with his unassailable support to President Buhari and his administration

rot done to the country in the last 30 years. We cannot expect miracle from the president in view of the enormous damage done to the country, he needs to be given opportunity to be around beyond 2019.” Senator Ahmad Sani Yerima, who also spoke on the issue, said: “Anybody that expects or wants Buhari to be there in four years and leave is not thinking properly. The problems with Nigeria won’t take four years to solve. If we really want change from him, we should make up our mind that he being there for eight years, would make that difference. I mean it. He needs eight years.” When asked if such comment means that the lobby for Buhari’s second tenure has started, Yerima, a former governor of Zamfara State, said: “My brother, no doubt, it has started, I can assure you. No need hiding it.” While Buhari has the constitutional right to seek for a second term, some political analysts say that it is either the arrowheads of the second term campaign are using it to test the political waters or to scare away some northern politicians who are desperate to take over from him in 2019. Such elements had even kicked against the former military ruler’s ambition to run for the 2015 presidency, suggesting that he should give way for the younger generation from the region. Options before Atiku The question over this development is: Will Atiku jettison his presidential ambition and support Buhari for a yet to be announced second term? Only the former vice president can proffer answer(s) to this puzzle, but not after weighing the implications of whatever choice he makes. Atiku is 70 years and should he opt out of the race, he would be 77 by 2023, when Buhari would be bowing out if he contests and wins the 2019 presidential election. So, can the former vice president afford to wait for another four years to actualise his dream? Would he be disposed to run for the presidency again at that age? Would he still have the financial strength to fund the project, and what happens if a new power bloc emerges in the North by then? Besides these factors, the issue would also be compounded if an-

other party other than APC wins the 2019 poll and its candidate decides to go for eight years. It then means that the former vice president would have to wait till 2027. Another factor that may guide Atiku in taking a decision on the 2019 presidency is the power sharing arrangement between the north and southern parts of the country. Assuming APC wins the 2019 presidential election, power is likely to shift to the South by 2023. That means that the North, where Atiku comes from, would have to wait for eight years before it gets the position again. Given these postulations, analysts say that the options open to the former vice president if he still wants to actualise his ambition, is to remain in the APC and fight for its presidential ticket in 2019 or return to the PDP. The former is not likely to pay him because of the incumbency factor. The latter seems more feasible as the PDP has announced that it will pick its presidential candidate for the next election from the North. The decision was based on the recommendation of the party’s Post-Election Review Committee headed by Ekweremadu. The Deputy Senate President had while presenting the report of the committee, said: “Since the last president of PDP extraction came from the southern part of Nigeria, it is recommended that PDP’s presidential candidate in the 2019 general elections should come from the northern part of the country in accordance with the popular views expressed in the submissions to the committee. This will also assuage any ill -feelings in the North over any perceived breach of the party’s zoning principle.” Analysts, who x-rayed the position, were of the view that Atiku may return to the PDP as the coast is now clear for him to pick the party’s ticket, especially with Babangida out of the way. The former military president recently turned down an offer to bring him out of retirement for the 2019 presidency. No doubt, the choice is Atiku’s but Nigerians are watching whether he will live up to his words of being “preoccupied with unassailable support to Buhari and his administration” as politics is a game of interest masquerading as contest of principles.

Politics

NEW TELEGRAPH MONDAY, JANUARY 4, 2016

Taraba: Al-Hassan fights on Though hope seems to be dimming for the Taraba State governorship candidate of the All Progressives Congress (APC) in the 2015 elections, Senator Aisha Al-Hassan, the fight is not yet over as she takes the legal battle to the Supreme Court, which is the final arbiter on the matter. FELIX NWANERI reports

ast week’s judgement of the Court of Appeal in Abuja that cancelled the purported victory handed Minister of Women Affairs, Mrs. Aisha Alhassan, by the Taraba Governorship Election Petition Tribunal, appears to have dashed the hope of many who had wished to see Nigeria’s first elected female governor. The tribunal had declared the woman popularly called Mama Taraba, winner of the April 11 governorship election on the ground that Darius Ishaku of the Peoples Democratic Party (PDP), who was declared winner of the poll by the Independent National Electoral Commission (INEC) was not duly nominated by his party for the election. But ruling on Ishaku’s appeal, the appellate court said that the tribunal was wrong in giving victory to Al-Hassan, and nullifying the election of Governor Ishaku. In a unanimous ruling by a fiveman panel led by Justice Abdul

Aboki, the court held that the constitution clearly states that unless a candidate has been indicted by a court of law, or is known to have a criminal record, or has certain degree of health condition, among others, such a person cannot be determined by a tribunal as not being qualified as a candidate. Justice Aboki said the failure of a party to conduct a conclusive primaries was clearly a pre-election matter which the tribunal has no jurisdiction on. According to him, the important question about Section 85 of the Electoral Act was whether the INEC, which the section was made for, was complaining about the candidature of Ishaku. His words: “If INEC does not see any reason to complain, can the first and second respondent be seen complaining loudly? I have found in this case that the first and second respondent have no right to challenge the emergence of the PDP governorship candidate since none of them is a member of the PDP.” The judgement is not deterring Al-Hassan as she has announced that she will head for the Supreme Court. Her counsel, Mahmud Magaji, who spoke to journalists on Friday in Abuja, said: “Their lordships have gone through our various speeches and have come up with their own ruling and we feel that we have the right to proceed to the Supreme Court.” He added that approaching the apex court “gives room for us to test the judgement so that we can expand the jurisprudence of the electoral process.” Ishaku, who reacted to the move through his counsel,

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been meeting and we are going to have our convention in March, so we are set. We will not make mistakes again. What gives you the confidence? If you look at the election results you will see that Prof. Attahiru Jega played a crucial role in getting us out of power. I am putting my compilations on Jega. He did his best as electoral commissioner but he got us out. He is an intellectual and he used his intellectual means to blow us apart. We were blown apart by Jega’s magic. Buhari has spent months in office and some people have started campaigning for the 2019 presidency. What is your take on the early campaign? That is the life of a politician. We are incurable optimists and we build our lives on the basis that we analyse events on daily basis, so it should not be a surprise at all that we have started thinking about 2019. While delivering a lecture in Benin, Edo State two months ago, I said following the convention of the PDP, the next presidential candidate of the PDP must come from the North and it is correct because our last candidate was from the South. The NWC has also come out to

Al-Hassan

We feel that we have the right to proceed to the Supreme Court

Kanu Agabi, said he would not undermine the right of the APC and its candidate to seek further appeal. “The right of appeal is what brought us here and the right of appeal is still what will take them to the Supreme Court, so I cannot underestimate the value of their appeal,” he said. A woman of many firsts – the first female Attorney General and Commissioner of Justice in Taraba State, first woman to be appointed Secretary of the Federal Capital Territory (FCT) Judicial

Council and first woman to be elected as senator in Taraba State, Al-Hassan is described as a madeof-steel amazon. It was this asset that she brought to bear in her political career, and most especially the Taraba governorship election. She not only fought her way to emerge as the candidate of a party, but a leading one. No woman had been handed the governorship ticket of a major political party before Al-Hassan became the standard bearer of the All Progressives Congress (APC). Mama Taraba was at a time the senator representing Taraba North Senatorial District in the National Assembly. She was elected on the PDP platform after defeating the then incumbent senator, Manzo Anthony, in the party’s primaries and a former governor of the state, Rev. Jolly Nyame, who contested on the platform of the defunct Action Congress of Nigeria (ACN). She later decamped to the APC and proved that her emergence as the party’s flagbearer in the governorship contest was no fluke by giving the ruling party in the state and its candidate (Ishaku) a run for their money. For the first time since democratic dispensation in 1999, the PDP, which had been the ruling party in Taraba State had to sweat to “win” the governorship election. There was no clear winner after first balloting and INEC had to conduct a re-run election on April 25 before Al-Hassan could be “defeated.” According to the commission, Ishaku polled 369,318 votes to beat Al-Hassan, who polled 275,984 votes. As Mama Taraba takes the final step left in the legal battle, she has rekindled the hope of her teeming supporters in Taraba and across the country who are anxiously waiting for the inauguration of Nigeria’s first female elected governor.

Babatope: PDP’ll bounce back in 2019 say the North will produce presidency in 2019. We are going to build all our campaign apparatus on the fact that the presidency is going to the North and we are going to get a material from the North. Do you see your party defeating Buhari if he seeks for a second term? Why not? He is free to run. Buhari defeated us against what I call the run of pay. I never knew that Buhari will win but two weeks to the last presidential election, I knew that Buhari will win because at that time, the contradiction within our party had blown up that nobody could arrest it anymore. We can beat Buhari. There is no doubt that if Buhari goes on with the fight against corruption and he does it well, it would give us a fight but then it would also make us to fish out within the PDP, a good material from the North, who will be capable to outsmart whatever Buhari must have done. What were the pointers that made you to conclude that Buhari will win two weeks to the presidential election? I knew we are going to lose and we

lost. I have been a party organiser all my life and I knew that we are going to lose. One of the playwrights said the centre cannot hold; anarchy is let loose on the world. Once you find a situation whereby the centre can no longer absorb the shocks of politics, as an organiser, you should know that there is problem. I visited our party’s campaign secretariat about three times because my childhood friend, Tunde Adeniran, was the secretary of the campaign committee and from what I heard from the workers, when I got to my hotel in Abuja, I told my friends who were there that the election is over. I sent them out to go and monitor the opinion of the workers in the hotel and those nearby. They came back to me to say people were saying they are waiting for APC government. So, what else do you need? And I knew at that time that it was too late for us to do anything. We could no longer lift our hands to build anything or push anything. We had to take it that we were gone and blown into pieces by the APCBuhari magic. I must confess to you, I wrote about Buhari, pointing out that he is a tyrant

but my write-up made no meaning in the minds of young people. Even my own son told me that; “Daddy, don’t waste your time, write anything you like about Buhari, many of my friends are going to vote for him and not APC.” He said he was going to vote for Buhari. Those were the political indices that became clear to people like me; a party organiser of all time that we were gone. Is it right then to say that the hate campaign embarked upon by the PDP and other groups against Buhari during the election didn’t yield any result? It did not work. If it worked, it only worked in the midst of people of my generation, who saw Buhari and his stark nakedness when he was in power and not the youngsters who were shouting Change! Change!! Change!!! We have seen the change and if the change remains what it is, where Buhari is telling all of us that he will send looters to jail term and all kind of things, then, we wish Nigeria the best of luck. I want him to succeed because if he succeeds, it shows somebody from my generation that is succeeding as the president of the country.

MONDAY, JANUARY 4, 2016 NEW TELEGRAPH

Opinion Nigeria: The origin, meaning and principality Arize Nwobu

here is something about a name. The name of a person, place or object encapsulates the nature, character and authority of the bearer, though not necessarily in a literal sense. The name, ‘’Nigeria’’, given us by Flora Shaw, wife of former colonial master, Frederick Lugard, bears a negative vibration. It is covertly derogatory and should be re-invented as NIGERIAH (NIGERI-AH) to make it more meaningful and symbolize a new spiritual foundation to reposition our country in the heavenlies where world events are seeded and settled. Though ‘’Nigeria’’ and the proposed ‘’Nigeriah’’ may seem and sound alike, but they differ greatly in meaning as we will later understand. We will also locate and unveil the principality of Nigeria and its dark activities which has continued to bind our country in shackles. But first, let us examine the origin and meaning of ‘’Nigeria’’. Historically, before the name was put forward, Nigeria had been known by other names, such as Central Sudan, Niger Sudan, Niger Empire, Hausa Territories and Royal Niger Company Territories, until Flora Shaw intervened as captured in her article published in Times of London in 1897, wherein she wrote, among other things, ‘’In the first place, as the title Royal Niger Company Territories is not only inconvenient to use but to some extent is also misleading, it may be permissible to coin a shorter title for the agglomeration of pagan and Mohammedan states which have been brought, by the exertions of the Royal Niger Company, within the confines of the British Protectorates, and thus need for the first time in their history to be described as an entity by some general name. To speak of them as the Central Sudan which is the title accorded by some geographers and travellers, has the disadvantage of ignoring political frontier-lines, while the word ‘’Sudan’’ is too apt

to connect itself in the public mind as the French hinterland of Algeria, or the vexed questions of the Niger Basin. The name ‘Nigeria’ applying to no other portion of Africa, may, without offence to any neighbours be accepted as co-extensive with the territories over which the Royal Niger Company has extended British influence, and may serve to differentiate them equally from the British colonies of Lagos and Niger Protectorate on the coast and from the French territory of the Upper Niger’’. From the above, it is evident that the name , ‘’Nigeria’’ is an imitation of ‘’Algeria’’. It was originally coined to identify those Flora Shaw referred to as ‘’pagan and Mohammedan states’’ and was compounded from two words Niger and Area which translates Niger Area (pronounce Nigger Area or Niggeria) in English, or, Ny-jer/Naidzer Area, or, Ny-jeria in French, or Nigerlando in Esperanto. The Niger component speaks to the ‘’perfect blackness of the pure-bred Hausa’’ and the area element, their large concentration(about 15million). It is noteworthy that the word ‘’Niger’’ as in Niger River or Niger State is not indigenous. Niger River(pronounce Nigger River) in English or, le Floev Ny-jer(River Ny-jer) in French, is the name of a river with its source in the Guinea Highlands, in the Mountains of Fouta Djalon of Guinea, a Francophone country, near the border with Sierra Leone. And notice that a common feature in all the former names of Nigeria(Central Sudan, Niger Sudan, Niger Empire, Hausa Territories and Royal Niger Company Territories) is the word, black. Sudan was derived from the word, Saoud, which means black in Arabic. The original name of Sudan was Bilad-al Sudan (Land of Blacks). And the word Niger (pronounce nigger in English, and Ny-jer in French), is a Latin adjective and offensive word for black. Also, Hausa is synonymous with black as evidenced in another extract from Flora Shaw’s piece: ‘’the Hausa who

are generally regarded as the most interesting of the races which inhabit the country, are believed to number as many as 15 million. The pure-bred Hausa is PERFECTLY BLACK (emphasis mine), but is of course, of a far higher type than the ordinary negro and differs from him especially in the fact that he is naturally active, persistent and industrious. He is essentially a man of peace as the Foulah (Fulani) is a man of war.’’ The word ‘’Niger’’(pronounce Nigger) is found in the Bible, in the book of Acts Chapter 13 verse 1. It is the other name of Simeone(Simon), a black man from Libya ( formerly known as Cyrene) in North Africa. He was the same Simon who was forced to carry the Cross of Jesus as witnessed in the Synoptic Gospels of Mathew Chapter 27 verse 32, Mark Chapter 15 verse 21 and Luke Chapter 23 verse 26. Notice the word ‘’forced’’. The reason Simon was forced to carry the Cross of Jesus was because he was ‘Niger’! He was black! In His passion, Jesus was badly scourged by the Jews and as they led Him towards outside the gate as an Outcast to crucify Him, they saw a black man who was coming from outside town in the opposite direction where Jesus was headed and FORCED him to carry the Cross because white Jews considered such service befitting only the black- the Niger. But ironically, that momentous encounter was a victorious one for the black man because it was at that point that the black race symbolically made contact and followed Jesus, the Theantropic Man. Till date, the average white man sees a black man or person with a negro descent(Niger) as inferior, servile, a foolish person and very silly fellow as is evident in the various synonyms they coined for Black and Niger. One of such is ‘’Jigaboo’’- an ethnic slur and extremely offensive name for a black person. • Rev Nwobu, is a Sociologist and Public policy Analyst. He wrote via arizenwobu@yahoo.com.

Igbo Presidency project in Nigeria (3) Romanus Arinze CONTINUED FROM LAST THURSDAY

fter all our brothers from the South-West played the opposition politics for sixteen (16) solid years, even though one of their own was president for eight (8) years. They were never deterred by the “opposition complex”. They remained focused and kept on believing that someday they will actualize their dreams. And today, not only that they are instrumental to the enthronement of the Government of the day, but they are reaping the fruits of their labours, through appointments and so on. There is always light at the end of the turnel. In fact the importance of putting our political house in order cannot be over emphasized. I see it as the “major hard nut” that has held our political dreams bound. It must be cracked for NdiIgbo to enjoy their own fair share of the National cake in Nigeria. “Agbakoo onu nyuo mamiri, okoo ufufu”. STEP 3: REKINDLING OUR POLITICAL CONSCIOUSNESS The political consciousness of our people are at it’s lowest ebb. Something must to be done to curtail this ugly trend. In relation to the execution of a project, frantic efforts are geared towards orientating the host community, to be conscious of the project cited in their

area, as such project is for their own benefit. As a result of the sensitization, the community will guard the project very jealously, as though their future depends on it. Likewise drastic measures shall be taken to re-awaken the political consciousness of our people, which has nothing to write home about. We cannot by any means dispute the fact that politics is a game of number. No matter the irregularities that accompanies it, the majority will always carry the day. This is one measure our brothers (Ndi Ugwu) always employ to outsmart us. The last 2015 General Elections is a typical example. They ensured that everyone of them obtained the voters cards, including the disabled people and even their underage children got theirs and all voted. The end result was victory of course. But as for our people, we are “too hooked” to our shops, business and so on, that we find it difficult to obtain our voters cards, let alone coming out to vote! And consequent upon this, we are the first to cry of marginalization in appointment and projects. Of course, we are being marginalized. But we can put a stop to that. Not through the “BULLETS” but through our voting power the “BALLOTS”. The power of the ballots cannot be overemphasized, because it has the ability to make one win or loose election. That was the reason behind the statement of threat issued by a high profile Monarch from the south west to Igbos

in his domain, before the April 11th 2015 Governorship Elections. That if Igbos in his domain did not vote for the candidate of his choice, they (Igbos) will be thrown into the lagoon. Were there reactions that greeted the statement? Of course, hell was let loosed but thank God that there was no tribal war. But because of the provocative nature of the statement, a lot of people and groups reacted bitterly. Unprinted names were hurled at the Royal Father. Some questioned the creditability of such a person to be a Royal Father of such class. Even non Igbos joined in the utter condemnation of the statement from such a personality. While some went as far as taking the matter to the International Court of Justice (ICCJ) at Hague. All the reactions both uttered and muttered, printed and unprinted, severed a good and excellent purposes. For once, NgiIgbo rose up and spoke with one voice in defence of the Igbo course. With nonIgbos lending their supports. In his self defence, the monarch resorted in saying that he was “misquoted”. Aside the various reactions, there are some element of benefits we will also derive from the Royal Father’s Statement. From my own perspective, the monarch was indirectly pleading with the Igbos in his domain to vote for the candidate of his choice. Because with the numerical strength of NdiIgbo in his state there were fears that his candidate might not win the Governorship Election. Already, three Igbo people in his

domain has won election in their various federal constituencies to represent his state at the National Assembly. So you can see the reason behind the “indirect appeal” (Onye gbachi nkiti, oke ya efuoo!). The statement further opened my eyes to certain realities that the political destiny of NdiIgbo in Nigeria lies in their hands, if well harnessed and utilized. With the populations of Ndi-Igbo in various Western and Northern states of the country, Igbo people stands the chance of becoming the deputy governors and even win governorship elections in those area in the near future, if allowed. But I’m not much concerned about onyeIgbo to be deputy governor or governor itself in those places. But if peradventure it happens, it’s a good development, as a way of reciprocating NdiIgbo, with regards to their immense contributions for the peace and development of our host states. Rather, I’m very much interested in the rekindling of the political consciousness of our people” which is one sure guarantee, out of our numerous political plights in this country. More so, the Royal father’s statement is a “clarion call in disguise” for NdiIgbo to arise from their slumber and take their political destiny in Nigeria into their lands. Unless drastic measures are taken to re-waken the political consciousness of our people, we will continue to go round the political circle of Nigeria. •Arinze sent in this piece via deroyalseed@gmail.com

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Need for population policy

couple of days ago, the Chinese staterun Xinhua news agency reported that the Asian country would soon change its decades’ old one child per couple policy. China, which has about a quarter of the world’s population of about 1.3 billion people, came out with the policy generally regarded as restrictive in the 1970s to check its burgeoning population. When persuasion failed, government officials resorted to abortions, heavy fines and forced sterilization to enforce the policy. Many countries across the globe, in one way or the other, come up with policies at different times to control their population growth. In some countries, especially in Europe, incentives are given, depending on the need of that particular period or future need, to parents to either encourage them to have more children or discourage them from having more. This is done when a particular country is not satisfied with the trends in its population growth. Whatever the situation, no country closes its eyes to its demographic issues. The exception, probably, is Nigeria. An attempt made by the government in the late 1980s/early 1990s during the regime of the

self-styled military President, General Ibrahim Badmus Babangida, met with a very stiff resistance. And of course, it died a natural death. Then, the government had tried to limit the number of children to four per couple. But problem arose because of the religion of some people which permits them to marry two or more wives. The question then was if a man marries four wives, would such family be regarded as four couples in one or a couple? Many people saw the policy as a direct attack on people of some religious persuasions. With that, the policy died and was buried. Since then no government, either civilian or military, has said or done anything to check population increase. In Nigeria, people see demographic issues from the narrow prism of politics. The announcement in the change of policy by the government of the Communist Party in China was received with mixed feelings. One, the country had pursued, with vigour, the one child per couple policy for about three decades. Secondly, with about 1.3 billion people, China is the most populous country on earth. Many, therefore, wonder if the country is interested in increasing the world population. But the intension is far from that.

Giving reasons for the change in policy from one child per couple to two children per couple, the Chinese government said the country could become home to the most elderly population on the planet in just 15 years, with more than 400 million people over the age of 60. But the ruling party promised in a communiqué that the new policy would not have adverse effects on the people or the economy. It said: “To promote a balanced growth of population, China will continue to uphold the basic national policy of population control and improve its strategy on population development. “China will fully implement the policy of ‘one couple, two children’ in a proactive response to the issue of an aging population.” According to observers, the Chinese ‘greying population’ will become a burden on health care and social services, and the world’s second-largest economy will struggle to maintain its growth. Back home, the effects of unplanned and unregulated population are glaring but both the government and the people are playing the ostrich. Many families are disintegrating on a daily basis because of the inability of the breadwinners to cater for the needs of such families as a result of

many factors, including lack of family planning. Recently, a mother of three sets of twins, Mrs Ruth Uche, cried to the Lagos State government for financial assistance. According to the Grade Two teacher at a private school with a paltry monthly salary of N10,000, her husband abandoned her because he could no longer shoulder the responsibility of catering for six children. Poverty, illiteracy and lack of social security are some of the factors responsible for couples going for many children in this part of the world. In traditional African setting, the more wives a man had; the higher number of children he would likely get. This would also determine how rich the man would be because he would have more hands to help him in the farm. There is also the belief that in old age, children would be able to take care of their parents, especially in countries where there are no social securities. It is time the Nigerian government came out with policy statement on the need to check the nation’s population growth. Apart from conducting a credible census devoid of socio-ethnic and political sentiments to determine the country’s population, the Federal Government must put in place incentives to discourage many children per family.

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tial candidate, Major General Muhammadu Buhari, to call his supporters to orCONTINUED ON PAGE 5

NEW TELEGRAPH

Money Line

MONDAY,

JANUARY

Stock Watch

Afromedia: Incapacitated adverse regulation by

Interview

Okonjo Iweala, a mismatch economy, says Enwegbara for Nigerian

Director mo Bassey of HOMEF, Nnimcould not , said the fishermen fisherman hope to fishing pittance was better than return in the Bodo that Shell to fered the communities creeks because rivers initially to pay of- ters hydrocarbon of the depthand with cleaner “This can. to fish. Sadly of wapollution hardly ing from a good fishing purchase Bodo pollution , although the oil spills. resultthe boat and ment necessary also damaged He equip- the Goi community amount expressed that the fishing making to return being offered the waters the community business to tinue people that to languish know each conthey choose best – that the glect without in abject is if neto move remedy,” to other he said.

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voters register across the country. Addressing a press conference yesterday in Lagos, CONTINUED ON PAGE 2

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Bodo spill: N16 billion Group faults Shell’s compensati on

Communities in the NigerDelta have been drastically affected by activities of oil companies

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Vol. 1

Insurance

Claims: Policyholder’s Leadway conflict with deepens

What's neWs

12, 2015

Naira walks tight rope knocks CBN as ICAN

Business

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Interview

News

Daramola: AGF must strengthen DPP’s prosecutorial capacity

Judges, lawyers move to fast track criminal justice system

Law

Land Use Act

Ondo, lawyers on warpath Barely two months after its passage into law by the Ondo State House of Assembly, Governor Olusegun Mimiko and lawyers on one hand and the residents on the other, may clash over what members of the wig and gown described as ‘obnoxious’ Ondo Land Use Act. BABATOPE OKEOWO writes

nger is already on the rise as lawyers and residents in Ondo State have threatened to sue the Olusegun Mimiko-led government over what they described as ‘obnoxious law’ passed by the state’s House of Assembly. The law- Land Use Act which would compel residents to pay #25, 000 and above on their property, is generating ripples with lawyers already threatening law suit on behalf of the people should the government refuse to toe popular demands that the law must be suspended. Landowners and landlords are asking the government to suspend the law on the grounds that it would add to the economic hardship currently being experienced in the state. However, lawyers have de-

FOLUSO OGUNMODEDE JUDICIARY Editor

foluso.ogunmodede@ newtelegraphonline.com

Mimiko

scribed the Land Use Act as ‘unreasonable, draconic, illegal, unconstitutional, null and void’. Government’s spokesman, Chief Yele Ogundipe had said the government was considering the law as part of its strategies to make people partake in state’s decision-making process. Ogundipe said: “It is going to be flat charge of N25, 000 for non-commercial residence but a landlord using his property for commercial purposes will have to pay more. The State Government takes into consideration the size of the house (bungalow, mansion) in the state but decided that it would be a flat rate for all sizes to eliminate the issue of discretion and corruption in the system. “It was also for the purpose of blocking IGR leakage. People have been issued notices in the past and implementation should have started and as responsible government we have decided that we ought to carry along our people before implementation begins. “You voted us in because you believe in our ability to administer. We do not want to take you for granted and

Jegede

It is patently illegal, unconstitutional, null and void. It is another way to oppress the poor masses

that is why we are holding this consultation so that people can be part of the decision to implement the Land Use Charge”. Ogundipe was echoed by the Commissioner for Economic Planning and Budgeting, Mr Akin Adaramola, who had solicited residents’ support, saying the government would not implement any policy without properly consulting the people of the state. Adaramola said “we should not see government as different from the people. Whatever misconceptions about the policy, it would be tabled for discussion, so that an appropriate decision can be taken on it. “Because of the economic situation in the country, the state government is almost becoming distressed as it would be misleading if government pretends that it has the resources to meet the needs of the people. “Apart from the fact that the crude oil we depend on is drying up, there is no way any government can meet the needs of the people and that is why it needs the cooperation of the populace to raise necessary revenue to be able to fulfill its responsibilities to the people”. Also, the Chairman of the State Board of Internal Rev-

enue, Mr. Akin Akinsehinwa while appreciating the people of the State for their cooperation with the government, said this gesture had helped “to move this State forward and to enjoin us to fulfill our civic responsibilities so that the state can continue to give us dividend of good governance. “At the state level, we will continue to engage all and sundry to support government’s efforts in bringing the dividend of good governance to our people. And as citizens, we must show commitment to the performance of our civil responsibility of tax payment if our state is to progress. “Land Use Charge is not new as many of us assumed; it is just a change of nomenclature to consolidate all the defunct charges such as Tenement Rate, ground Rent and Neighbourhood Charge. This was to address the complaints of multiple-taxation on landed property. “The N25, 000 Land Use Charge is far less than the amount that many property owners have been paying in the past only on Tenement Rate. It is also fair since everyone will know exactly what they should pay and thereby avoid any agent of government defrauding property owners. “Tax is necessary, tax is compulsory, tax is a global best practice of law abiding citizens and it is the dependable option to develop our dear state in the face of dwindling petrodollar income from oil to the nation. “Taxes are what we use to invest in infrastructure so that our generation can leave better and the coming generations leave better than us. The charge has been designed such that landlord pays less than N100 per day.” But lawyers disagree. They described as unreasonable, illegal and unconstitutional the Land Use Act which would compel landlords in the state to pay #25, 000 and above annually for their property. Apart from the economic implication on the residents, the lawyer said the Act had already robbed the third-tier of government of its statutory duty. CONTINUED ON PAGE 22

20 Law | Interview

MONDAY, january 4, 2016 NEW TELEGRAPH

Daramola: AGF must strengthen DPP’s prosecutorial capacity In this interview with AKEEM NAFIU, Mr. Olu Daramola, a Senior Advocate of Nigeria bares his mind on the nation’s justice delivery system and tasked the Justice Minister and Attorney-General of the Federation on how to strengthen the prosecutorial capacity of the Director of Public Prosecutions (DPP) The nation’s Justice Minister is about two months old now, what would you want him to do to excel in his new assignment especially as the problem of justice delivery system is assuming a twist with the newly introduced Criminal Justice Administration Act 2015? First, the Attorney-General needs to strengthen the prosecutorial capacity of the DPP’s office. The Civil litigation department must also be strengthened. A situation where most of the prosecutions that should be handled by the DPP department are farmed out to external lawyers is not good for the system. It constitutes a serious drain on the government because they have to pay the lawyers. In the past, the Ministry of Justice and not external solicitors handled most if not all government briefs. It is cheaper for the government to recruit good lawyers into the Ministry of Justice to handle all its briefs. As to the second leg of the question, there is very little the Attorney-General can do on the problem of delay in the administration of justice. The courts are not under him and he plays no role in drafting rules of the courts. He has no control over how a private legal practitioner will handle his case in court. The courts are in better positions to address the problem. The rules of court must be geared towards the quick and efficient administration of justice. A situation where civil or criminal cases take up to five years to be decided in the High Court is not good for the country. This ugly trend is a clear warning to foreign investors that they may never get justice in the jurisdiction because justice delayed is justice denied. Therefore, all the stakeholders in the administration of justice including judges, lawyers and even litigants must work together to ensure things are working well in the sector. Even though there are pressures on the Federal Government to endorse the creation of state police, do you think that the need for state police would solve many questions arising from increased crime rate in the country? There is merit in the agitation. There is no reason why even local governments cannot have their own police. We cannot rely on a unified police force to address the myriads of security challenges facing the country. The fear that the state police can be used as instruments of persecution of political opponents in the state is not sufficient to throw away the baby with the bath water. After all, the police can also be used by the party in power at the federal level to persecute its opponents. The governor being the chief security officer of a state should be able to rely on the state agencies to maintain law and order in the state. He should not be

Daramola

put at the mercy of the Federal Government. Therefore, I’m in support of the creation of not only state police, but also local government police for those who can afford it. The new INEC boss, Professor Mahmud Yakubu has conducted two governorship elections since he assumed office. What would you say he has done differently from his predecessor? Or what is your assessment of the electoral umpire under him using the Kogi and the Bayelsa governorship elections as a parameter? By his appointment, a heavy responsibility has been placed on his shoulder. Nigerians are looking up to him, not only to sustain but also to improve on the achievements of his predecessor. He must address the challenges faced in the last election from the card reader. He must ensure that there are credible voters’ register and that the votes count. Elections must be free and fair. There is no point committing huge public resources into conducting elections if the results can be manipulated. For years, corruption has undermined Nigeria’s socio-political and economic development, would you thumb up the fight against corruption under the current administration of President Muhammadu Buhari? The government has started well by initiating criminal proceedings against some highly placed government officials who were alleged to be involved in shady deals. Initiating criminal proceedings against corrupt officials is just one aspect of the fight against corruption. The most important aspect is to block the holes in the government financ-

Government must monitor banks to ensure that the loopholes through which government resources are siphoned are effectively blocked

es that make corruption possible. Government contracts must be awarded and executed in transparent manner. If the due process office and procurement department are alive to their responsibilities, it should not be possible for the costs of projects to be inflated. The lifestyle of public officers must be strictly monitored so that those who are living beyond their means are brought to book. I read in the papers this morning that a civil servant earning N120, 000 per month was able to pay N60million tithe to her church within a period of two years. She said she made the money from her business. The question is if the business is so profitable, what is she still doing in government employment? In another case, a permanent secretary who had only served for five months allegedly lodged N290million in one of his accounts. Therefore, any public official living beyond his means should be investigated. The government cannot effectively fight corruption without beaming its search light on the banks. The Bank Verification Number (BVN) and Treasury Single Account (TSA) are good steps in the fight against corruption but government must monitor the banks to ensure that the loopholes through which government resources are siphoned are effectively blocked. In summary, government must take necessary steps to minimise or eliminate corrupt practices and those who are caught must be severely pun-

ished to serve as deterrence to others. The leadership of the anti-graft agency- the Economic and Financial Crimes Commission (EFCC), Mr Ibrahim Lamorde was removed, what is your take? The man in question was asked by the president to proceed on his terminal leave, this does not amount to removal from office. Being a holder of a statutory office, he can only be removed for a cause. Although, there are speculations in some newspapers that he was removed because he failed to act on a report, which indicted a top government functionary, but government has not confirmed the speculation. The man having completed his five-year tenure cannot be said to have been removed. Sir, what is your take on the Federal Government’s proposal to pay cash to the Boko Haram insurgents in order to secure the release of the Chibok Girls? There is nothing wrong with the government negotiating the release of the Chibok Girls. Their abduction is a national nightmare. The government must do everything possible to secure their release. Government may even consider amnesty for the insurgents because without peace, there can be no meaningful development in the country. Boko Haram is a bye-product of a dysfunctional society. The root cause is poverty and religious extremism. Even though disgruntled rich people are alleged to be the sponsors of the insurgents, none of their sponsors has offered himself as a suicide bomber. Therefore, we must see most of their foot soldiers as victims of a dysfunctional society who need to be reorientated and rehabilitated. Recently, some Senior Advocates of Nigeria (SAN) walked out on the Chairman of the Code of Conduct Tribunal (CCT), Danladi Yakubu Umar, what does portend for justice system? It was not proper for the lawyers to walk out on the Tribunal. First and foremost, lawyers are officers of the court who must do everything to protect the integrity of the court and the sanctity of the judicial process. Their grouse was that the court did not adjourn the proceedings sine die to await the decision of the Supreme Court on the application for stay of proceedings. The prosecution before the tribunal is being done under the Administration of Justice Act, which forbids the granting of any application for stay of proceedings. Since it is not the duty of the court to invent law, it would not have been appropriate for the tribunal to grant the application for stay of proceedings. I’m aware that the Supreme Court has granted a stay in the matter but it was done as a result of a compromise between the prosecutor and the appellant’s counsel. The decision of the Supreme Court is reasonable having regard to the fact that the record had been complied and appellant brief filed. The court also abridged time and granted accelerated hearing of the substantive appeal.

Law | News 21

NEW TELEGRAPH MONDAY, JANUARY 4, 2016

Cross section of judges

L-R: Gbadamosi, Ige and Gbadegesin

Judges, lawyers move to fast track criminal justice system

The Oyo State branch of the Nigerian Bar Association (NBA) penultimate week, brainstormed not only on how to make justice accessible to indigent Nigerians but fast track the nation’s justice system with a view to ridding justice delivery system of delays in Oyo State in 2016. SOLA ADEYEMO was there

achinery of justice has for ages been grinding too slowly in Nigeria to an extent that major stakeholders are worried about its attendant implications on litigants, suspects, accused persons, law officers, prisons management as well as prosecuting agencies including the police, Independent Corrupt Practices and other Related Offences Commission (ICPC), Economic and Financial Crimes Commission (EFCC), Nigerian Security and Civil Defence Corps (NSCDC), National Agency for the Prohibition of Trafficking in Persons (NAPTIP),Federal Road Safety Corps (FRSC),Task Force, among others. There have been accusations and counter-accusations among the investigative agencies, Ministry of Justice, Prisons managements including the courts on what role each one plays in the delay in justice administration, particularly, the criminal aspect, and who takes the lion share in the blame. It was at the 2015 Law Week of the Ibadan branch of the Nigerian Bar Association (NBA), led by Kazeem Gbadamosi, held in Ibadan penultimate week. Its focus was on how to fast-track the criminal administration of justice in Oyo state and the need for stakeholders’ intervention. Among the discussants at the event held at the Aare Afe Babalola Hall, NBA Secretariat, Iyaganku, Ibadan were Justice Bayo Taiwo, Mr Adebayo Adenipekun (SAN), Mr Akin Onigbinde (SAN), the Solicitor-General and Permanent Secretary of the Ministry of Justice, Prince Adetunji Wasiu Gbadegesin, Ronke Ige of the Justice Development and Peace Commission (JDPC), Mr Jide Olanipekun (Secretary of the Oyo branch of the NBA). Also at the annual event were

the immediate past Attorney-General and Justice Commissioner in the state, Mr. Adebayo Ojo, a principal lecturer at the University of Ibadan Faculty of Law, Dr. Oluwole Akintayo, Judges, Magistrates, as well as the Chief Judge of Oyo State, Justice Mukthar Abimbola who moderated the discourse session, among many others. Speaking on the discourse, themed “Fast-tracking the Administration of justice in Oyo state: The need for stakeholders’ intervention”, the discussants who represented the different arms of the justice administration, passed some bucks at one another, but at the end of the storming session, all the stakeholders agreed that many innocent persons had been confined to undue prison terms for years, either as awaiting trial inmates or convicted prisoners. There was a unanimous decision that all the stakeholders should put in their best to ensure that the various prisons in the country are decongested of inmates and prisoners, just as police stations should be sanitised, lest suspects unduly stay long in custody before being granted bail or charged to court for prosecution. Anchoring the discourse, Justice Bayo Taiwo categorized causes of delay in the administration of criminal justice system in Oyo state into: delay in investigation, delay by the Ministry of Justice and delay from the courts. His observations covered slow and care-free attitude of law enforcement agencies, non-availability of modern equipment to investigate crimes, lack of funding and problem of gathering witnesses to testify in cases, non-availability of investigating police officers due to transfers, non-production of accused persons in court by the police and prison authorities, problem of interpreter where the accused per-

Investigating agencies should ensure they move faster when investigating criminal cases

son does not speak the language of the court. Withdrawal of complaint by the complainant after the accused had been arraigned particularly in rape cases, absence of state counsel in court, accused persons not being represented by counsel, and defence counsel deliberately delaying trials. Other problems associated with such delays, according to Justice Taiwo include defence counsel’s deliberate filing of interlocutory appeals, seeking stay of proceedings for the purpose of stalling trial, poor or bad court rooms which does not allow court to sit for long, deliberate delay by counsel occasioning unnecessary adjournments, non-availability of tools needed by the court like computers, electronic recording devices etc. These forms of delay have debilitating effects on criminal justice system, among which are: “prolonged detention of suspects in prison custody without trial, thereby occasioning waste of manpower, turning our prison into breeding ground for hardened criminals as notorious criminals are detained together with innocent people, wastage of government money in transporting suspects to courts, scaring away of international investors as cases take years before they are determined, discouraging of people from reporting crimes or offering to testify in courts, increasing the workload of courts unnecessarily, and cases where witnesses lose memory of the event that transpired due to years of delay in court”. Justice Taiwo, who is a firsthand witness to the causes of delays as a sitting Judge, was however not without suggested solutions to these myriad problems to fasttrack justice dispensation when he said that, ”investigating agencies should ensure they move faster when investigating criminal cases, ensure that duplicate case files are sent to the Ministry of Justice promptly for advice, have a police officer who is a lawyer to act as the liason officer with the Ministry of Justice, provide more modernised investigation equipment like DNA, laboratory, and digital equipment, provide more funding for investigation activities instead of the practice of complainants funding investigation, police attending courts to testify promptly and

having contacts with witnesses”, among others. To the Ministry of Justice, Taiwo suggested that “legal officers should move faster and ensure that legal opinions are formed promptly, charges filed as soon as possible, bail application attended to promptly, transportation fare provided the policemen who are to attend courts to testify or produce suspects before courts, provision of photocopiers, and prompt payment of allowances for legal officers appearing in court outside Ibadan”. To the courts, the following responsibilities were identified: “Provision of motivation like allowances for judicial officers that conclude more cases and write more legal opinions, computerisation of filing processes, use of electronic recording to curtail laborious long handwriting of proceedings by Judges and Magistrates, as well as provision of more conducive environments in the courts like air conditioners, to make the Judges and Magistrates sit longer”. Justice Taiwo however crowned his lecture up with recommendations to the prisons to be provided with more vehicles to transport accused persons to court, constant communication between the prison authorities and the Chief Judge so that names of awaiting trial prisoners should be submitted every month for necessary action”. In his contribution, Prince Gbadegesin of the Justice Ministry, who also identified some causes of delay akin to Justice Taiwo’s, however submitted that the state government was doing its best in terms of the areas of pitfall identified by the Judge. To him, some forms of delay associated with the Justice Ministry were beyond it. He said: “We are not culpable for the delays caused by assigning of legal officers to more than one court per day. In the past, we used to have 60 counsel in the Ministry, but we now have about 35. We can’t but assign a counsel to more than one case because there is shortage of legal officers. Many of them have resigned. But we will continue to do our best”, he promised. The JDPC representative, Ige, who lamented that the Federal Prison at Agodi, Ibadan, was constructed to accommodate 300 inmates, has over a thousand, suggested that instead of remanding all accused persons in prisons or sending them to jail, the court should embrace community service sentencing. To her, such would CONTINUED ON PAGE22

22 Law | News

MONDAY, january 4, 2016 NEW TELEGRAPH

Oyo NBA tackles delays in justice system C O N T I N U E D F R O M PA G E 2 1

aid decongestion of the prisons. She advised Judges to imbibe the culture of sincerity and improve on their jobs through selfinitiatives, citing an Oyo State Judge who she said had adopted recording of proceedings on her computer instead of engaging in long handwriting that slows down hearing. She nevertheless enjoined the state government to computerize the courts to make the job easier and more comfortable for the Judges and Magistrates. Mr Adebayo Adenipekun (SAN), Head of the Afe Babalola & Co. Chambers, in his address, blamed some lawyers who would file cases for their clients when they knew the cases were bad ones. “Some of us do this to buy time and get money from our clients. If you know your client has no case, why filing any application in the first place? Doing so unnecessarily congest courts with cases”, he said. Adenipekun also identified inadequate number of Judges, writing of proceedings manually, as well as inadequate funding from the government, thus affecting the welfare and health of many judges and legal officers from the Justice Ministry, as part of the causes of delay in justice administration. “Many Judges have too many cases to attend to. Many of them suffer from back aches and fatigue as a result of sitting for too long. They need constant re-

Some of the participants at the Oyo NBA Law week

fresher courses, trainings and seminars. The NBA too must be interested in the conduct of lawyers in courts. Filing of frivolous cases and applications by some of them must be discouraged”, he submitted. The Ibadan NBA chairman, Gbadamosi, commended the Chief Judge, Justice Abimbola, for the face lift of the High Court rooms at Iyaganku, while calling for provision of air conditioners in the rooms to make them more habitable for all stakeholders. He commented that prison officials would not come to courts on time, suggesting that “they should always convey accused persons to courts by 8.30 latest, ahead of sitting which com-

mences at 9.00. Legal officers from the Justice Ministry are also advised not to come late to courts as some of them do”. Secretary Oyo NBA, Jide Olanipekun, said that there was the need for improvement of the court rooms in Oyo, noting that the Judges and Magistrates were nevertheless actually doing their best, “but the environment is not enabling for them”. He remarked that verification of sureties at the magistrate’s courts was faulty as accused persons were being put at the mercy of the police who cash in on their condition to extort them. “We suggest that the court officers and not the police should be in charge of the verification of sureties”, lest accused persons

unnecessarily stay in prison custody due to the inhibitions being created for them, he said. On the judicial development, he also cautioned that it was not compulsory that a counsel must prosecute any case and convict if there is no evidence. “Let us do the needful. In the area of fraud, whoever is found culpable should be exposed and prosecuted”. Dr. Oluwole Akintayo of the Law Faculty of the University of Ibadan suggested that prisons administration should be put on concurrent list, while there should be a change of attitude for better on the implementation of judicial policies. He also urged that fraud among some lawyers, particular-

ly in civil/land matters through which they fleece litigants, should be abated. The Chief Judge, Abimbola, spoke on institutional stage of trials, stage of interlocutory application, and the trial period, noting that “filing of processes by lawyers must be prompt and timeous. All interlocutory applications and other questions should be determined within the space of three months. Trial period should be expedited and thorough”. He disclosed that Alternative Dispute Resolution (ADR) was being given priority attention in Oyo state towards settling disputes, and that Magistrate’s courts were to be involved to decongest courts of cases. On some developments that had taken place in the Oyo a state judiciary, the CJ said, “Affidavit Section has already been created at the High Court to discourage professional affidavit makers. Every deponent must now affix his passport photograph to the affidavit. This is to forestall fraud and sharp practices. The judiciary is poised to sanction any erring staff. “I urge the NBA to also sanction its members in order to sanitize the judicial system. Structural and attitudinal deficiencies leading to delay in administration of justice should be looked into by the NBA”, he counseled while promising that air conditioners will be provided in the state courts’ rooms as demanded by the NBA Chairman.

Anger trails Mimiko’s Land Use Act C O N T I N U E D F R O M PA G E 1 9

For instance, a rights activist, Mr Morakinyo Ogele, a former chairman of the Akure branch of the Nigerian Bar Association (NBA), Mr. Abayomi Ojo, the Akure NBA Secretary, Mr Rotimi Olorunfemi and Chief Dapo Agbede described the newly introduced law as bound to fail in view of its economic implications in the state. To Ogele, the new law was ‘patently illegal, unconstitutional, null and void’. He said: “To me it is patently illegal, unconstitutional, null and void. If you have read the Land Use Act of 1978, it is specifically stated thereon what we call Land Use Act. First and foremost the Certificate of Occupancy that the Governor sign, you are being given the land for 99 years. It is a matter of lease. Thereafter you must pay for some charges that is tenement rate. “For governor to come out to say he is charging another money is illegal. The government is introducing the illegal charge now because they are looking for money. The House of Assembly has passed an illegal law. It is a way of oppressing the poor masses.” Ogele was echoed by Agbede who described the new as ‘unreasonable’. Agbede said: “The law is not

Akindele

reasonable; those who want to enforce it will encounter the wrath of the people. When you make unreasonable law, you are promoting violence. Nobody says you should not make unreasonable law, but people have the rights to violate and disobey such law. If you make the law that people should walk nakedly, people will violate such law. The money is on the high side, many household cannot pay such money”. Another lawyer, Olorunfemi believes the state lacked the required powers to enact such law as such law falls within the pur-

Ogele

The law is not reasonable; those who want to enforce it will encounter the wrath of the people

view of the third-tie of government as the law if not reversed would rob the local government of its enabling powers to collect tenement rate on the local government of collecting tenement rate on property. It is now a centralized system. It has been the function of local governments since they came into existence in Nigeria. “The implication is that the people will have to pay more, hence the law has really submerged the local government system in the state. Ojo said “I believe that Land Use Charge is strictly within

the purview of the local governments. But unfortunately, the local government has been crippled. Ordinarily, this is the money local governments should use to develop their area. “But in a situation where it is the state government that is now collecting Land Use charge and sign Board fee, the local governments should then be cancelled because they have been rendered useless and ineffective.” He went on: “I believe if it should be done as in days of old, the charge will be very minimal. Now the government is putting so many burdens on land owners and citizens. If the government will do it although it is wrong for the state government to do it, the fee should be very minimal. “If you go to many of the houses, they cannot perform or repair their houses. The charge should be minimal for such houses. The areas should be categorized, whichever area, it should not be more than N10.000.00. “Taxes should not be made burdensome on the citizens. It should be made easier and less expensive to obey the law. If it is expensive, it will be easier for citizens to dodge payment of the money”.

Law | News 23

NEW TELEGRAPH MONDAY, JANUARY 4, 2016

Corruption: Oyebode, Shasore task Buhari, others Foluso Ogunmodede

nless there were deliberate mechanisms in place by the ruling All Progressives Congress (APC) to tackle corruption head-on, the nation called Nigeria may cease to exist, a foremost Professor of jurisprudence and international law, Professor Akin Oyebode has said. Oyebode, apparently miffed by a deluge of revelations on the stolen public funds, said corruption may nail the nation’s corporate existence should the Muhammadu Buhari-led government refuse to set in motion a mechanism that would permanently rid Nigeria of corruption. The scourge, if not dealt with, may deal a fatal blow to Nigeria’s corporate existence should they refuse to tackle it once and for all, he said. Oyebode spoke on “the war against corruption and the protection of human rights in Nigeria” at the Human Rights Summit convened by the Lagos branch of the Nigerian Bar Association (NBA) to mark ‘the 2015 International AntiCorruption Day and the Human Rights Day’. Oyebode said: “Hardly has any issue constituted a graver threat to the very survival of Nigeria than that of corruption, a phenomenon which I once stated has the capacity to put a stop to the country if Nigeria did not do all it can to stop it.” Besides, he decried what he described as the incessant adjournment of cases and dismissal of charges against accused persons on flimsy, technical grounds and “mere slapping on the wrists of those found guilty instead of inflicting maximum penalties prescribed by law,” saying “many would have loved to see confiscation of proceeds of corrupt practices and incarceration of the guilty to long terms as a deterrent to society at large.” Harping on the ogre of judicial corruption, Oyebode warned that “If the physicians cannot heal themselves, it would be no exaggeration to declare that in Nigeria, the war against corruption could

well be dead on arrival.” Oyebode, who doubles as the Chair of the Office of International Relations, Partnerships and Prospects at the University of Lagos, said “our collective success as a people wedded to the notion of democracy and good governance would, to a large extent, depend on the ability of both the government and the people to deal effectively with what is, perhaps, the most devastating scourge of our time.” He argued that while many Nigerians “can quite easily pass the acid test of probity, integrity and fidelity to propriety and public and private morality,” a few “rotten apples” have tended to give the country a bad name, “hence the seriousness with which any endeavor to clean Nigeria’s Augean stables is generally viewed.” He said: “Culprits of grand corruption are usually found among public office-holders, big time politicians, the rich, powerful and influential members of the ruling class. “Corruption furthers and promotes injustice, inequity and unfairness in human affairs with the deleterious consequence of depriving society generally of services of the best and brightest while enthroning mediocre and second order individuals in the scheme of things with devastating consequences for societal well-being. However, where corruption is reduced to the barest minimum, the meteoric rise in socio-economic progress and technological advancement soon becomes evident. This much can be seen from the experience of countries like China, India, Singapore and Korea.” “The country is believed to be currently administered by votaries of the rule of law, due process and good governance to the extent that corruption entails misappropriation of public resources by private persons, it can also be said that corruption constitutes a gross violation of collective rights of members of the community to enjoy what has come to be known here as dividends of democracy.” Oyebode applauded the “industry and tenacity” of lawyers en-

L-R: Shasore and Oyebode

War against corruption must be waged on all fronts and in a decisive manner to ensure national survival and good governance

gaged in the crusade to seek justice for victims of corruption and canvassed switching from adversarial to inquisitorial approach as “we just cannot continue to embrace the nuances of our inherited procedural jurisprudence and hope to succeed in creating a new Nigeria.” Accordingly, the law Professor canvassed that the war against corruption must be waged on all fronts “and in a decisive manner” to ensure national survival and good governance. “The simple reason for this is that the war against corruption is in the final analysis, a war to protect and sanctify the rights of us all as against those of a self-seeking, self-centred, self-opinionated and self-perpetuating group”, he said. Oyebode was echoed by the Lagos State Chief Judge, Justice Olufunmilayo Atilade who advocated a collective effort as panacea for fighting corrupt practices. Atilade who was the Special Guest of Honour, insisted that all hands must be on deck to rid the country of all forms of corrupt practices as its effect which was widespread “must

be tackled head-on by all stakeholders including the judiciary.” Justice Atilade observed that while the Criminal Justice Administration Act 2015 has been described as “revolutionary” in advancing Nigeria’s criminal procedure, “the Bench and the Bar must work together to ensure that corruption cases are speedily tried and unnecessary interlocutory applications and objections curtailed”, saying that the courts would not relent in its effort to protect the constitutional rights of suspects. At the summit tagged “Towards combating corruption and the protection of human rights”, were While the event was chaired by a former Lagos State Attorney-General and Commissioner for Justice, Mr. Supo Shasore, SAN, a Lagos High Court Judge, Justice Christopher Balogun and Lagos deputy Commissioner of Police Abiodun Odude who stood in for the Inspector-General of Police. Others include Chairman Lagos branch of the Nigerian Bar Association, Mr. Martin Ogunleye and the branch Human Rights Committee Chairman, Mrs. Uche Ikwueme.

ICCA urges lawyers to embrace ADR Foluso Ogunmodede

o explore other forms of alternative dispute resolution (ADR) by introducing aspiring practitioners into the practice of arbitration, the Young International Council for Commercial Arbitration (ICCA) has held a day training workshop for lawyers at the Teslim Elias Hearing Room, International Centre for Arbitration and ADR, Lekki, Lagos. The event which hosted over sixty young arbitration practitioners from diverse backgrounds and levels of experience; from in-house counsel to Masters of Law graduates and law students, was to make practitioners embrace ADR as panacea for delay in justice system.

However, the workshop was divided into two sessions, focusing on “How to get into International Arbitration” and “The Role of Local Counsel in International Arbitration”. Dignitaries included Yemi Candide-Johnson, SAN, Partner, Strachan Partners; Lise Bosman, Executive Director, ICCA; Megha Joshi, Executive Secretary, Lagos Court of Arbitration, Ndanga Kamau, Registrar, LCIA-MIAC, Tunde Fagbohun, SAN, Partner, Aluko & Oyebode, Chair Arbitration Committee Lagos Chamber of Commerce and Industry; Farouk El-Hosseny, Legal Counsel, Permanent Court of Arbitration and Acting PCA Representative in Mauritius, Funke Adekoya, SAN, Partner LEX Legal Practitioners & Arbitrators, Member ICCA Governing

Board; Tolu Obamuroh, Associate General Counsel, Lagos Court of Arbitration and Duncan Bagshaw, Barrister, Stephenson Harwood, United Kingdom. Members of the panel at the first session recounted their experiences from starting out in the field of international arbitration, to becoming experts. For instance, Bosman said “over the years, my experience and fascination for arbitration has evolved and deepened. Career planning as an arbitrator is no longer by serendipity, in recent times it is more purpose oriented and structured, with many renowned international institutions offering degrees and internship opportunities in the field”. To Adekoya, “I found my-

self in arbitration because while I loved resolving disputes as a lawyer in court, I found that litigation could not provide a timeous resolution of disputes”. However, participants were encouraged to actively get involved in arbitration activities. According to Tunde Fagbohun young practitioners should gain skills and competency in different industry sectors that would ultimately become the foundation for a strong and specialised arbitration practice. Besides, he advised participants to identify and take advantage of local and international internship programs, whether paid or unpaid in order to develop their competency. Ms Joshi told participants that there was an opening for an internship programme at

the Lagos Court of Arbitration for young practitioners or student desiring to gain practical experience in arbitration and other ADR mechanisms in an international setting. She however announced the launch of the Lagos Court of Arbitration’s Small Claims Scheme — a targeted scheme developed to resolve small claim disputes for general compensation arising from breach of contract and or negligence, especially where parties had agreed to settle disputes in accordance with the Scheme, either at the contact formation stage, or after a dispute had arisen. This, according to her the scheme was proposing small claims between the values of N1,000,000.00 and not exceeding the sum of N5,000,000.00 (Five Million Naira). Small businesses now have the opportunity to access resolution services for pending commercial disputes.

24 Law

MONDAY, january 4, 2016 NEW TELEGRAPH

2015 polls: CJ thumbs up tribunal judges Tunde Oyesina

he Chief Judge of the Federal High Court, Justice Ibrahim Ndahi Auta has thumbed up court’s judges who participated in the elections petitions arising from the 2015 general elections, saying they had made the judiciary proud. According to him, the judges had performed excellently well in the handling of election petitions which arose from the 2015 general

Auta

Foluso Ogunmodede

ays after 30 judges took oath office, the nation’s Chief Justice, Justice Mahmud Mohammed has offered explanation why the judges’ appointment was inevitable. Besides, he dismissed insiuations that the judges’ appointment was without merit. He said there was no under hand dealings as the judges remained the first set to undergo strict criteria under the 2014 Revised National Judicial Council Guidelines and Procedural Rules for the appointment of judicial officers of all Superior Courts of Record in Nigeria. However, Justice Mohammed applauded the new judges, describing their appointments as ‘a response to the challenge of a death of judicial officers at the federal level. Criticisms had trailed their appointments in some section that some of the newly appointed judges did not deserve to be on the Bench on the grounds that some of them were appointed based on ‘godfatherism’. But in a swift reaction, the CJN said the 30 judges were the best to be appointed in recent time as they were the first set of judges to be appointed under the

elections as they were fearless, transparent and God fearing in the discharged of their duties. Auta who spoke during a send forth party for the 2015 retired staff and merit awards ceremonies of the Federal High Court, commended the judges for their approach in the handling of petitions arising from last year general elections. The CJ said he was happy that the election cases were handled with soundness of mind and the law, which according to him created a

level playing field for all candidates. He urged the judges to ensure that all pending 2015 general election cases be concluded on scheduled He said: “There was no incidence of grant of ex parte orders of injunction or any pronouncement which threatened the conduct of the elections, qualification and or disqualification of any candidate. “The Federal High Court is very ready to conclude all criminal matters, especially matters affecting politically exposed persons within

one month provided the prosecutors will do their work efficiently and effectively”. Auta enjoined judiciary staff to contribute to the development of the court, both in infrastructure and human capital development. Earlier, the court’s acting Chief Registrar, Mr. Emmanuel Gakko assured the staff that the court’s leadership would continue to take the welfare of staff very serious just as he said that the management would not condone any acts of indiscipline.

CJN defends appointment of 30 judges 2014 Revised National Judicial Council Guidelines and Procedural Rules. He said: “This is the most rigorous selection process ever conducted by the Federal Judicial Service Commission and the National Judicial Council for appointments to this court. They are the first Judges of the Federal High Court to be appointed under the 2014 Revised National Judicial Council Guidelines and Procedural Rules for the Appointment of Judicial Officers of all Superior Courts of Record in Nigeria. “The National Judicial Council new Guidelines provide a more transparent and inclusive process for appointment of Judicial Officers. I have given my full support to the new Guidelines because they provide for a more comprehensive, robust and transparent method of appointment, leading to the emergence of only the best legal minds with high moral standards and temperament to serve as Judges in our revered temples of justice. “It may come as a surprise to some that the process began in 2014 by an advertisement in the media and

Mohammed

calling for prospective candidates to register their interest in filling the vacancies. “It is on record that over two thousand applications were received by the Federal Judicial Service Commission (FJSC) for consideration. “In furtherance of this,

former Chief Justices of Nigeria and myself, serving and retired Justices of the Supreme Court, the Presidents of the Court of Appeal serving and retired and other heads of court, as well as the President of the NBA, were all required to nominate, on behalf of the

Bench and Bar respectively, such persons they deemed fit and properly qualified for the appointment. “Having been duly nominated, comments were received from the recommenders, on the shortlisted candidates with regard to their suitability or otherwise for appointment. The prospective candidates were further assessed by the Federal Judicial Service Commission on the basis of strict criteria such as sound knowledge of the law, good reputation, and seniority, in addition to other criteria too numerous to list here. “It is important to state at this juncture that acts such as lobbying for appointment, exhibition of bad behaviour in and out of court, influence peddling, rendering dishonest or questionable legal opinions, submission of false credentials, are just some of those conducts exhaustively listed in the 2014 Guidelines as acts that would preclude appointment to judicial office and I make bold to say that all such acts were considered in the final configuration of this process”.

Contempt: Honeywell, Ecobank know fate January 15 Akeem Nafiu

ustice Mohammed Idris of a Federal High Court in Lagos will on January 15, rule on a contempt charge filed against Ecobank Nigeria Limited by Honeywell Flour Mills Plc. This was sequel to the hearing of the application after a request for an adjournment of its hearing by Ecobank’s lawyer, Mr. Kunle Ogunba (SAN) was overruled by the court. Ogunba had sought

an adjournment for the contempt proceedings to enable him prepare his response. However, Honeywell’s lawyer, Chief Wole Olanipekun (SAN) opposed the application, saying a contempt charge was sui generis (unique),adding that the court must not allow itself be brought to ridicule. However, Justice Idris described the application desirable. He said: “It is not just desirable, but essential for the court to look into

the matter of contempt before proceeding with any other issue. At all times, it is the duty of the court to guard jealously its powers and to give first consideration to the proceedings in contempt of its court. In the circumstances, I shall hear the contempt proceedings now”. In the application, Honeywell and its sister companies, Anchorage Leisures Limited and Siloam Global Services Limited accused the bank of disobeying an earlier

directive by the judge that all parties should maintain status quo antebellum. Ecobank was sued over disagreements regarding an alleged debt owed the bank by thegroup. Justice Mohammed Idris had on August 10 made an order of interim injunction restraining the bank from publishing the plaintiffs’ name as debtors and to maintain status quo pending the hearing of the plaintiffs’ suit against Ecobank. However, while the

suit was pending, Ecobank filed other suits before other judges in a bid to recover its debt from Honeywell Group and its Chairman, Oba Otudeko. Honeywell, through its lawyer, Chief Wole Olanipekun (SAN), filed Form 48 and Form 49, urging the court to hold the bank in contempt. Arguing the contempt application, Olanipekun said the order that status quo be maintained was clear and that It was not for the bank to say that the order of court was

nebulous. However, Ecobank’s lawyer, Kunle Ogunba (SAN) said the contempt proceedings was a bid to harass and intimidate the bank. Ogunba added that Ecobank did not publish Honeywell’s name as ordered by the court, therefore the bank cannot be held in contempt for filing suits against the company. After hearing the contempt application, Justice Idris adjourned to January 15 for ruling.

NEW TELEGRAPH MONDAY, JANUARY 4, 2016

Money Line

Stock Watch

Insurance

Interview

2016 Budget: Analysts seek increased non-oil revenue collection

Neimeth: Earnings hit by competition, counterfeiting

Social Security: Initiative as game changer

‘Weak risk management threat to e-payment system’

34-35

Business What's news

Monthly mobile portability lines grow 62.9% A data by the telecoms regulator, the Nigerian Communications Commission, has revealed that Nigeria’s telecoms industry has recorded a monthly growth in Mobile Number Portability (MNP) by 62.9 per cent in 2015.

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Aviation stakeholders comply with 63% AIB safety recommendations The Accident Investigation Bureau (AIB) has said that over 63 per cent of its safety recommendations had been closed in the past 15 years while 14 others were partially closed.

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L-R: Executive Director, Finance, Nigeria/ Regional CFO, West Africa, Standard Chartered Bank, Yemi Owolabi; Chief Executive Officer, Nigeria & West Africa 1, Bola Adesola; Group Chief Financial Officer, Andy Halford; Managing Director, Agusto & Co, Vivien Shobo, and Chief Executive Officer, Financial Derivatives Company, Bismark Rewane, at a stakeholders' meeting on Halford’s visit to Nigeria in Lagos.

Internet service providers’ licences expire in Nigeria CONTINUITY

The Business Desk Ayodele Aminu

Deputy Editor (Business)

Bayo Akomolafe

Asst. Editor (Maritime)

Sunday Ojeme

Renewal of the operating licensees would guarantee continuity in Internet service provisioning

Asst. Editor (Insurance)

Tony Chukwunyem

Asst. Editor (Money Market)

Dayo Ayeyemi Property Editor

Adeola Yusuf Energy Editor

Wole Shadare Aviation Editor

Chris Ugwu

Capital Market Editor

Abdulwahab Isa Finance Editor

Kunle Azeez

ome licences of individual Internet Service Providers (ISPs) operating in the nation’s telecoms sector have expired. Investigation by New Telegraph revealed that 21 of the service providers would not be allowed to operate from 2016 if

they fail to renew their licences. It was learnt that the service providers were issued the operating licences in 2011. According to information obtained from the telecoms regulator, the Nigerian Communications Commission (NCC), the ISPs were licensed for a period of five years. Some of the licensees include: Gilat Satcom Nig Limited, Quautet (W.A.) Limited, Kalex Global Solutions Limited, City Central Communications Limited and Global TT Data Networks Limited, Single Eagle Technologies Limited, Hajara Ihsan Nigeria Limited, Network Information Technology Nig, Limited and Gilat Satcom Nig Limited, Single Eagle Tech-

nologies Limited and Lexican Investment Limited. Others are Main one Cable Co. Limited, Network Auditing and Telecom Services, EF-GEE Telecorp Limited, Aida Synergy Nig Limited, Trussnet Limited, Mfreke Ventures Limited and Conecom Limited, among others. Apart from the list, 18 other ISPs would renew their licences by 2017 and in 2018 and 2019, about 21 and 20 ISPs are to renew theirs.

97 million

Being the number of Nigerians currently online

Taiwo Hassan

Industry, Agric & Brands Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

Till date, the NCC has issued close to 200 ISP licences providing Internet services either for themselves or other clients. The licensees, operating in different parts of the country, had helped in taking Internet services to individuals, businesses and governments. Their activities, experts observe, had helped in deepening Internet penetration in the country. Meanwhile, the telecoms regulator had continued to create an enabling environment to promote provision of highspeed Internet services in the country. It was learnt that the regulaCONTINUED ON PAGE 26

Rates Dashboard INFLATION RATE November 2015........................9.4% October 2015.............................9.3% September 2015........................9.4%

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

EXCHANGE RATE (BDC as at Dec 31)

USD . . . . . . . . . . . . . . . . . . . . . . N266 Pounds . . . . . . . . . . . . . . . . . . . N360 Euro . . . . . . . . . . . . . . . . . . . . . . N280

l Foreign Reserves – $29.101bn as at 30/12/2015

Source: CBN

EXCHANGE RATE (Interbank as at Dec 31)

USD . . . . . . . . . . . . . . . . . . . . . N200 Pounds . . . . . . . . . . . . . . . . . . N307 Euro . . . . . . . . . . . . . . . . . . . . . N224

Business | News

COMPETITION Porting keeps operators on their toes to boost network investment and retain subscribers Kunle Azeez

data by the telecoms regulator, the Nigerian Communications Commission, has revealed that Nigeria’s telecoms industry has recorded a monthly growth in Mobile Number Portability (MNP) by 62.9 per cent in 2015. The latest MNP status report explained that 12,494 telephone lines were ported in January. It noted that the figure climbed to 20,349 lines at the end of September, 2015, when the latest statistics was released. The monthly growth rate over a period of nine months represents about 62.9 per cent. NCC said that 379,767 telephone lines had so far ported since the introduction of porting service two years ago. Only Global System for Mobile Communications (GSM) operators, including MTN, Airtel, Glo and Etisalat, currently provides MNP services in the country. MNP was launched in 2013 as value-added service (VAS) that may be subscribed to by interested telecoms consumers. The service provides the freedom for subscribers to move from one network to another while retaining their original lines. In 2015, a total of 166,964 telephone lines ported in the first nine months of the year. According to the monthly data in January, the number of ported telephone lines was 14,330 and the figure reached 14,801 and 14,718 in February and March respectively. In April, 15,357 phone lines were ported; May, 18,071 lines and June, 21,153 lines. Accordingly, the number of ported liens in July, August and September stood at 28,712; 19,452 and 20,370 respectively. Meanwhile in the September data, 12,259 telephone lines ported out of MTN network; 3635 from Airtel network; 3,212 from Glo and 1,264 lines from Etisalat. Major factors driving the decision of subscribers to port from a network to another is the quality of service delivery provided by the receiving network. The NCC, in 2012, had set strict Key Performance Indicators (KPIs)

MONDAY, JANUARY 4, 2016 NEW TELEGRAPH

Monthly mobile portability lines grow by 62.9% on Quality of Service (QoS) for telecoms operators and has continued to sanction operators for not meeting the QoS parameters. It said that the MNP scheme was introduced to boost competition among telecoms operators on the provision of quality of service while providing wider choices for the subscribers. The Public Affairs Di-

rector of NCC, Mr. Tony Ojobo, said that MNP is a need-based value-added service for willing subscribers. He said: “MNP is not a compulsory service that people must subscribe to. If a subscriber sees a need for it, he or she may switch from his or her current network to another and if not, he or she remains on its current network.

“So, you don’t expect a surge in MNP uptake since it is based on the decision of the subscribers to either port or not to port. Yet, I believe we are having impressive uptake, coming mostly from individuals who have seen a need to migrate. The beauty of porting services is freedom of choices.” The President, Association of Licensed

Telecoms Operators of Nigeria (ALTON), Mr. Gbenga Adebayo, said that with the MNP introduction, telecoms operators were being put under ‘needful pressure’ to invest more in order to improve their network quality. Adebayo, however, said that the porting scheme was spurring network investment by the operators.

“It is instructive to note that network operators are under intense pressure to improve their networks to keep their subscribers loyal on their networks,” he said. Since the launch of MNP, telecoms firms have been investing toward improving their networks, as network providers are eager to lure customers from rival companies while making their network more attractive to retain existing subscribers. However, MTN has been the highest loser on the MNP table while Etisalat continues to lead the table as the highest gainer.

L-R: Lagos State Commissioner for Home Affairs, Alhaji Abdullateef Abdul Hakeem; Managing Director, Medview Airline, Alhaji Muneer Bankole; Head of Engineering, Mr. Lukman Animashaun and Head, Business Development, Alhaji Ishaq Na' Allah, during the presentation of award to Medview Airline for outstanding performance in the 2015 hajj pilgrims operation by Muslim Pilgrims Welfare Board, in Lagos.

Internet service providers’ licences expire in Nigeria CONTINUED FROM PAGE 25

tor is licensing special infrastructure companies (InfraCos) to accelerate the roll-out of broadband infrastructure across the country. An InfraCo would be licensed in each of the six-geo political zones and the Federal Capital Territory, Abuja. Already, two InfraCo licences had been issued to MainOne and IHS for the SouthWest North-East region of the country. The remaining five licences will be issued in 2016 in addition to auctioning some spectrum licences, especially the 2.6 gigahertz spectrum band, among others. There are currently over 97 million Nigerians online, according to the latest industry data by the telecoms umpire, NCC. Also, the country is currently ranked as the eighth largest country in the world in terms of the share of Internet users globally. Nigeria is sitting atop 190 other countries to emerge the country with the eighth largest number of Internet users in the world. This is according to the latest report by Internet Live Stats, the online portal that reports global trends on Internet usage globally.

Aviation stakeholders comply with 63% AIB safety recommendations ACCOMPLISHMENT The bureau made 158 safety recommendations from major incidents and accidents Wole Shadare

he Accident Investigation Bureau (AIB) has said that over 63 per cent of its safety recommendations had been closed in the past 15 years while 14 others were partially closed. Also, it noted that air safety had improved in the country in the past 10 years. Speaking with New Telegraph in Lagos, the spokesman, AIB, Mr. Tunji

Oketunbi, informed that since year 2000, the bureau had made 158 safety recommendations arising from major incidents and accidents in the sector. He added that 63 per cent had been complied with by the affected parties and players in the sector, while 14 per cent were partially closed. Oketunbi stressed that additional 23 per cent of its safety recommendations remained opened. He recalled that the ministerial committee set up by the immediate former Minister of Aviation, Chief Osita Chidoka, in 2014, had explained that no fewer than 100 of its safety recommendations were closed with 36 open gaps and 22 partially closed. The AIB spokesman declared that the investi-

gative agency, by law, had no right to force compliance to its recommendations, but noted that it had safety monitoring exercise, which confirmed if its recommendations had been complied with or not. According to him, “right now, a lot of safety recommendations have been implemented. There are still some that are open while others have been partially implemented. Since 2000, we have issued 158 safety recommendations and 63 per cent of them have been closed, 14 per cent partially closed and 23 per cent still open. “The current status on implementation of our safety recommendation; it is very ingenious for anybody to continue to use a data of a year or two years ago to talk about the current status.

Business | Money Line

NEW TELEGRAPH MONDAY, JANUARY 4, 2016

2016 Budget: Analysts seek increased non-oil revenue collection

Diversification Conservative projection for deficit financing sources Stories by Tony Chukwunyem

as N900 billion abroad to fund the deficit adding that N984 billion would be borrowed at home. According to him, the government was expecting revenues of around N3.9 trillion next year, of which only N820 billion would come from key oil revenues. However, in a note made available to the New Telegraph, the FBN Capital analysts, said, “We reiterate our point that the projection for other deficit financing sources of N380billion in 2016 is highly conservative. We think that the Federal Government of Nigeria (FGN) could squeeze more

nalysts at FBN Capital Limited have again urged the Federal Government to boost non-oil revenue collection so as to be able to fund the projected deficit in the 2016 budget. President Muhammadu Buhari had last week announced that the budget deficit is expected to double to N2.2 trillion in 2016 as the Federal Government plans to triple capital expenditure with a total budget volume of N6.08 trillion. He also disclosed that the government will borrow as much

from the combination of signature bonuses, asset sales and recoveries.” The analysts had in an earlier note urged the government to step up its collection of tax revenue. They had stated then that, “Companies’ Income Tax (CIT) is a significant contributor to non-oil revenue. The rates may not be raised but we expect increased efforts, as with all taxes, to strengthen compliance.” They pointed out that though Nigeria’s external partners are generally supportive of the government’s programme, the “Disbursement of their concessional loans

is dependent upon numerous procedures, however, and the new figure of N900billion in the calendar year could prove challenging.” It will be recalled that financial analysts have said that the decision of the United States (US) Federal Reserves (the Fed) to increase interest rate from 0.0 per cent to 0.25 per cent will increase the cost of financing the 2016 budget deficit. For instance, analysts at Afrinvest Research said, “The higher interest rate in the US and a stronger dollar will increase cost of foreign debt. The recently re-

958 MFBs comply with recapitalisation needs –CBN

cash centres, so that they can operate from a source (Head office). The State MFBs were asked to come up with N100 million capital base, while a National MFB mandated to recapitalise to N2 billion. In February 2014, the CBN revoked the operating licences of 83 MFBs because of their failure to meet the recapitalisation requirement. According to the CBN and the Nigeria Deposit Insurance Corporation (NDIC), many

he Central Bank of Nigeria (CBN) has announced that 958 Microfinance Banks (MFBs) were licensed to operate in the country as at December 31 2015. The apex bank stated this in statement posted on its website at the weekend. It will be recalled that the CBN had in 2011 directed that Unit-based MFBs be recapitalised to N20 million and close all their branches and

MFBs in the country are currently undercapitalised and are at the risk of becoming distressed owing to heavy losses incurred as a result of large overhead costs and lack of adept risk management strategies. Speaking at a seminar in September, CBN Director, Other Financial Institutions Department, Alhaji Ahmad Abdulahi, revealed that MFBs in the country incurred losses to the tune of N4

billion last year. He disclosed that the Non-Performing Loan (NPL) of the MFBs by June 2015 had risen to as high as 45 per cent, a far cry from the regulatory range of five per cent. Abdulahi also said many MFBs’ capital base had been eroded through losses and increasing NPLs. He revealed that the CBN and NDIC were in the process of withdrawing more licences of distressed and undercapitalised MFBs.

Economic Indicators As at M2* CPS* INF

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

N19,142,526.05m N18,579,219.49m 9.4

MPR Mar, 2015 91-day NTB Mar, 2015 Bonny Light Nov, 2015 Ext Res** Source:CBN

FGN Bonds

TTM

Price 107.97 114.78 114.68 122.24 115.77 89.89 104.28

1.36 3.53 4.16 6.11 8.24 14.60 18.58

NIBOR

Tenor (Days) Call 30 90 180

Rate (%) 1.4883 9.4370 10.0937 12.2696

Bid Yield 8.72 10.84 11.03 11.25 11.21 11.44 11.58

Change (%) 0.45 ▲ 1.20 ▲ -0.17▼ -0.59 ▼

11 10.77 US$35.7 US$29,101,401,156

Change (%) -0.09▼ 0.37 ▲ -0.18▼ -0.19▼ 0.12 ▲ -0.02▼ -0.11▼

Price 108.97 115.78 115.68 123.24 116.77 90.89 105.28

Tenor (Months)

24/11/2015 Mar 2015 31/12/2015 30/12/2015

Offer Yield 7.97 10.53 10.75 11.05 11.04 11.28 11.45

Change (%) -0.09▼ 0.36 ▲ -0.18▼ -0.19▼ 0.12 ▲ -0.02▼ -0.11▼

NITTY

1 2 3 6 9 12

Treasury Bills

Rate (%) 1.0181 1.1077 3.3245 4.7996 7.5688 8.4413

Change (%) -0.08 ▼ -0.05 ▼ 0.41 ▲ -1.29 ▼ 0.12 ▲ -0.95 ▼

Money Market

Maturity Date Discount Bid Yield Change (%) Discount Offer Yield Change (%) Rate (%) 2.38 2.39 -0.38 ▼ Open-Buy-Back (OBB) 1.04 17-Mar-16 2.88 2.90 -0.38 ▼ 16-Jun-16 5.00 4.50 4.60 0.83 ▲ Overnight (O/N) 1.42 5.13 0.83 ▲ 15-Dec-16 6.52 6.02 6.40 1.63 ▲ 6.90 1.57 ▲

Spot($/N)

Bid 199.12

Offer 199.22

Change (%) 0.28 ▲

NIFEX

Spot($/N)

Bid 199.0000

CBN Clearing Rates of December 18, 2015 Spot($/N)

196.00

197.00

0.02 ▲

Offer 199.1000

Change (%) 0.08▲ 0.04▲

Change (%) 0.02 ▲

leased Medium Term Expenditure Framework (MTEF) for 2016 shows that fiscal arm is budgeting an expansionary 2016 with a total budget of N6.08trillion relative to N4.48trillion in the 2015 budget. Consequently, the budget deficit is expected to rise from N1.04 trillion in 2015 to N2.19 trillion and foreign borrowing is budgeted to ac-

count for about 29.0 per cent (N635.88billion) of the total financing for the deficit. Following the Fed decision, the cost of borrowing for the government, is expected to rise. Furthermore, the cost of servicing FGN and corporate Eurobond worth $6.2 billion ($2.5 billion and $3.7 billion) is expected to hike as a result of stronger dollar and weaker naira.”

Naira to remain flat on weak dollar demand

he naira will remain flat on both the parallel and official interbank markets this week as weak dollar demand and businesses gradually wind down operations to prepare their books for their financial year ending, forex dealers have predicted. The local currency traded at 266 to the dollar on the parallel market last Thursday, from 272 a dollar the previous week and a low of 280

to the dollar a fortnight ago. The currency traded at 199.5 to the dollar on the official market, some 1.26 per cent weaker than the Central Bank of Nigeria’s (CBN) peg rate. Reuters quoted a trader as saying at the weekend that, "The naira should trade flat next week because of weak demand from end users and businesses closing down operations for the year end." The money market reopens tomorrow.

Bank customers warned over new phone scam

ank customers have been warned about a new text and phone scam in which fraudsters impersonate the numbers of companies to steal money from their accounts. The con, known as number spoofing, has fuelled a 95 per cent rise in telephone banking thefts in the last year alone. In some cases, victims have been swindled out of tens of thousands of pounds. Fraud investigators told MailOnline that the scam has become a 'real issue' and are holding urgent talks with Ofcom and telecoms operators to work out how to tackle the problem. But they admit facing an uphill struggle because many fraudsters are based overseas. The scam involves criminals copying the telephone number of a genuine organisation so that it appears on the victim's caller ID display, enabling them to immediately gain their trust. The fraudsters then pose as bank staff or police officers to persuade the victim to hand over details like their PIN or passwords.

Some even convince customers to transfer money directly into their accounts by pretending there has been a security breach that has left their cash vulnerable. To add an extra layer of authenticity, the scammer will sometimes send a text to the victim's mobile phone which also shows up on phone display as having come from the bank and can appear within a group of genuine messages from the company. In cases where they have transferred money to the fraudster's account, their real bank may automatically send them a genuine text saying that a payment has been made and advising for them to get in touch if they suspect anything untoward. But because it has come from the same number as the scammer, the victim will very likely not flag it up, believing it all to be above board. Tony Blake, from the Dedicated Card and Payment Crime Unit (DCPCU), has issued a warning to potential victims to never hand over sensitive details from a cold caller, even if it appears genuine.

Business | Movers, Shakers and Appointments

MONDAY, JANUARY 4, 2016 NEW TELEGRAPH

CBN approves managing director for NIRSAL

overnor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has approved the appointment of Mr. Aliyu Abbati Abdulhameed as substantive Managing Director of the Nigeria IncentiveBased Risk Sharing System for Agricultural Lending

(NIRSAL). A statement by the Director, Corporate Communications Department of CBN, Mr. Ibrahim Mu’azu, noted that the appointment underscores CBN’s determination to re-focus NIRSAL and help de-risk agricultural lending in Nigeria.

He noted that NIRSAL would help move the country towards food sufficiency, job creation and inclusive growth. Abdulhameed holds a B.Sc. in Agricultural Economics and Rural Sociology from Ahmadu Bello University, Zaria, a master degree in Public Administration with specialisa-

tion in Public Policy, and an Executive Master Certificate in Project Management from the Project Management College (UK). As an Executive Team Member of NIRSAL Plc, he has over 22 years’ experience in corporate agribusiness and in the field of Agricultural Fi-

New CEO for Jumia in Nigeria A frican Internet Group’s biggest e-commerce firm, Jumia, has appointed Mrs Juliet Anammah as head of its Nigeria operations. She took over from former co-Chief Executive Officers, Jeremy Doutte and Nicolas Martin, who are taking-over the reins of Jumia Global across the 11 African countries in which the group operates. Anammah said that her objective was to relentlessly focus on building the Jumia brand, making it the one-stop shopping destination in Nigeria by offering convenience and the widest assortment of quality products at affordable prices. She added: “We are building a platform for local and global brands to enter the market at the speed of light by going directly from the factory to the consumers. This is a game

eneral Electric (GE) has appointed four new company officers to run its affairs in Nigeria. They are Uwem Ukpong, Steven Hartman, Danielle Merfeld and Tom Mitchell. Uwem Ukpong, 44, joins GE as president and chief executive officer, Surface Product Company for GE Oil & Gas. Prior to GE, Ukpong worked for Schlumberger for 22 years where he held a series of leadership roles. Most recently, he was president of software integrated solutions. Ukpong’s experience in the oil industry spans a range of assignments in North America, Europe, North Africa, West Africa and Latin America and he is a member of the Society of Petroleum Engineers. Ukpong holds a bachelor’s degree in mathematics and computer science from the Federal University of Technology, Owerri, Nigeria and a master’s degree in petroleum engineering, Heriot-Watt University, Edinburgh, United Kingdom. Already, Steven Hartman, 50, has been appointed vice president and chief technology officer, engineering – Power Ser-

Anammah

changer for Nigeria and a major shift in the way companies look at their market entry strategy.” According to the co-CEO, Africa Internet Group, Jeremy Hodara, “Juliet brings strong leadership capacity and a consumer-driven mind-set honed from her experience in consumer

goods and services. “As Jumia moves into a new phase of growth, consolidating on the gains so far, while driving for more relevance to our customers, Juliet’s ability to focus sharply on the strategic levers of success is invaluable.” Before she joined the

company, Anammah was a partner in Accenture and the Managing Director of the firm’s Consumer Goods Practice in Nigeria. During her later years in Accenture, she focused on the digital consumer and route to market for consumer goods companies. Anammah brought to Jumia over 24 years of professional experience with six years at senior executive level. She has also served on the board of many nonprofit organisations involved in women development and trade expansion. This appointment marks a new phase of growth for Jumia Nigeria, emphasized by two key themes: the focus on the customer and the partnership of Jumia with its brands and its vendors, which will be the battlefield of the newly appointed CEO.

GE appoints four officers vices for GE Power. Hartman joined GE in 1998 and has held a series of leadership roles in GE Power. Before joining GE, he was the director of business development for Strategic Power Systems Inc. Hartman holds a bachelor’s degree in mechanical engineering from Union College in Schenectady, New York. Danielle Merfeld, 43, was appointed vice president, Niskayuna Technology Centre and technical director of electrical technologies and systems. Merfeld joined GE in 1999 and has held technology leadership roles in GE Global Research and GE Power. She holds a bachelor’s degree from the University of Notre Dame, Notre Dame, IN and a Ph.D. from Northwestern University, Evanston, IL, in electrical engineering. Also, Tom Mitchell, 45, was appointed vice president, sourcing for GE Healthcare. Mitchell joined GE in 1992 and has held a series of leadership roles in GE Aviation, Transportation, Oil & Gas and Global Growth Organization. Most recently, he served

as senior executive, manufacturing—Distributed Power for GE Power. Mitchell holds a bachelor’s degree in manufacturing engineering from Boston University, Boston, MA and a master’s degree in business administration/ management from University of North Carolina, Chapel Hill, NC, and is a

graduate of GE’s Operations Management Leadership Programme. The company said in a statement that from January 1, 2016, it would engage 193 officers globally who lead large revenue-generating businesses or are in critical technology or functional roles, helping to drive growth.

nance and Risk Management. NIRSAL, a Public Limited Liability Company, licensed as a Non-Bank Financial Institution (NBFI), is an initiative of the Central Bank of Nigeria (CBN), the Banker’s Committee (BC) and the Federal Ministry of Agriculture and Rural Development (FMARD).

NIMN gets first vice president

enior Strategy Manager at Nigerian Breweries Plc, Tony Agenmonmen, has become the first vice president of the National Institute of Marketing of Nigeria (NIMN). He was elected at the Institute’s Annual General Meeting (AGM) held in Enugu in line with NIMN Act 2003 Section 3, Sub-section 1. Also, Mrs Justie Unabuko, a professor, was elected 2nd Vice President. The National Institute of Marketing of Nigeria (NIMN) is the body charged with the responsibility of regulating the marketing profession in Nigeria. This includes the authority to determine who are marketers and the standards of knowledge and skills to be obtained by persons seeking to become members of the marketing profession. Agenmonmen will join the council of the institute led by Ganiyu Koledoye as president and chairman of council. An expert in marketing management, brand management, marketing research and business strategy, Agenmonmen obtained his first degree from Ahmadu Bello University (ABU) Zaria in 1980 and a Master degree in business administration (MBA) from the University of Benin (UNIBEN) in 1982.

Agenmonmen

Sandey joins Honeywell board

oneywell Flour Mills Plc (HFMP) has announced the appointment of

Sandey

Oluseye Sandey to its board. The Lagos-based company said that the appointment was a demonstration by the company’s vision to have a robust board with an array of talented and highly experienced executives. It was learnt that Sandey was bringing to the HFMP board over 30 years’ experience in auditing, budgeting and reporting, business development and taxation. In a statement, the company said that Sandey’s comprehensive experience would further enhance the board’s ability in its role of leading the company and guiding the management team in the achievement of

the company’s vision to become Africa’s leading food company, with a diverse portfolio of leading products and brands. She had worked at CocaCola Nigeria Limited and the mother company’s operations around the world before joining the company. Prior to her board appointment, Sandey had joined Honeywell Flour Mills Plc as Finance and IT Director in September 2015 and has responsibility for managing the Finance and IT teams. Her key areas include: strategy, organisation design and process, planning, business partnership, risk compliance and people development.

Business | Stock Watch

NEW TELEGRAPH MONDAY, JANUARY 4, 2016

Neimeth: Earnings hit by competition, counterfeiting The healthcare industry has continued to battle with operational challenges arising from competition, counterfeiting and the general harsh milieu, CHRIS UGWU reports

hese are not the best of times for the pharmaceutical industry in the country as the sector has continued to grapple with tough challenges. The problems, which range from intense competition, low capacity utilisation, serious faking and adulteration of original brands and even weak patronage, have been giving the industry low profitability as well as poor return on investment. In addition, the operating environment has remained ever challenging as a result of high cost of borrowing, epileptic power supply and lack of basic infrastructure. According to reports, despite having over 150 pharmaceutical factories in Nigeria out of which a few have complied with the World Health Organisation (WHO) current Good Manufacturing Practice (CGMP), the industry has continued to struggle. Neimeth International Pharmaceutical Plc is one of the pharmaceutical companies in the healthcare sector of the economy that have recorded significant performance over the years through enabling regulatory factors. However, the current challenging environment has inhibited its growth and bottom line. Domestic constraints such as depletion of fiscal buffers, dwindling foreign reserves, erratic supply of public electricity, poor infrastructures, among others have also remained a thorn to the business operating environment. Just like other manufacturing companies in the country, the harsh operating milieu has put its return on investment on a negative track. Though the company’s bottom line has been in the red, market sentiments for the shares of the company have firmed up in spite of the general massive sell off that hit the equities market in 2015. Although the share price, which closed at 74 kobo per share in January 31, 2015, recorded a leap in growth at the close of business on Friday, the company’s share price stood at 89 kobo. Financials The company from profit position in 2013 returned to a loss position during the financial year ended September 2014. The company’s revenue for the full year 2014 dropped by 19 per cent from N2.016 billion in 2013 to N1.628 billion during the period under review. The company recorded a loss

Orjiako

after tax of N228.535 million for the financial year ended 2014 from a profit position of N130.578 million during the comparable period of 2013, representing a loss of 275 per cent while loss before tax stood at N198.173 million from profit position of N182.135 million, accounting for a loss of 208.8 per cent. Similarly, the drug maker also declared a loss after tax of N68.088 million in its first quarter (Q1 2015) ended December 31, 2014, compared to a profit N75.763 million in the same period of 2013, representing 190 per cent increase in the negative. Revenue plunged 43 per cent to N269.262 million in the Q1 2014 from N468.530 million in the corresponding period of 2013. It continued with the trend during the second quarter ended March 31, 2015 with a loss after tax of N181.471 million as against N13.373 million posted in 2014, representing a percentage change of 1,257. The company’s revenue had also declined by 45 per cent from N807.832 million in 2014 to N440.875 million reported during the period under review. Neimeth’s financial year ended September 30, 2015 also closed red as revenue dipped 10 per cent from N1.628 billion in 2014 to N1.460 billion reported in 2015. Similarly, the company posted a loss after tax of N335.684 million in 2015 as against N228.535 million posted in 2014, accounting for a percentage change of 47. Profit deflators The Chairman of the company, Mr. A.B.C Orjiako, at the 2014 Annual General Meeting (AGM), said that the pharmaceu-

Share price movement of Neimeth Plc 2015

Pharmaceutical industry witnessed scant healthcare funding, weak patent protection and low capital spending, which impeded the market’s potential

January 31

74k

February 28

71k

March 31

73k

April 30

N1.03

May 31

N1.20

June 30

N1.39

July 31

N1.52

August 31

N1.23

September 30

N1.02

October 30

N1.03

November 31

89k

December 31

89k

tical industry witnessed scant healthcare funding, weak patent protection and low capital spending, which impeded the market’s potential. Orjiako noted that a cursory look at Nigeria’s Q115 Pharmaceutical Risk/Reward Index (RRI) scored Nigeria 37.1 per cent and placed it 21in Middle – East and Africa Matrix. “Nigeria is regarded as lowreward high-risk proposition for multinationals due to drug counterfeiting, corruption and poor pharmaceuticals regulations governing the market. "The adverse implication of this scenario on pharmaceuticals companies constitutes a major set back for the industry,” he said. Outlook Orjiako said that the compa-

ny’s 2015 budget, partly tagged a budget of reconciliation, was put in place to enhance capabilities and ambitions. According to him, it is also expected to stabilise the business and grow revenue and profit organically. He added that "to avoid forecasting and planning inaccuracies, which can erode opportunity benefits, we have put in place planning alternatives to forestall performance setbacks arising possibly from volume variances." Orjiako also pointed out that Imported Finished Pharmaceutical Products (IFPPs) focused on distinctive programmes and Neimeth's Distinct Novel Attributes (DNA) have been positioned to leverage the business. In addition to IFPPs, ACTs, analgesics and ncp will be the major budget focus in 2015. He said: “To ensure strong marketing footprint for the envisaged organic growth, marketing will focus on increased market share drive, high level awareness and demand generation as 2015 has been designated a year for active marketing while we shall keep looking out for marketing opportunities just as it happened with the Ebola outbreak. "Media focus will continue to be our priority as 85 per cent of our volume drivers are undeniably advert driven. "This way resource allocation will only be made to hot spots like our key drivers Pyrantrin, ncp.Homtamin etc, while Normoretic, Flexodene and other prescription products will be channeled to professional Journals and direct interface with prescribers. "Additionally, our ambition to introduce two new products every quarter for the next 10 quarters is being sustained with the recent launch of Co-Amoxiclav (Antibiotic) and Norduet, a novel antihypertensive and one of its kind in Nigeria that combines the Vasodilator action of Amlodipine (Amlovar) with the diuretic actions of hydrochlorothiazide. "We are confident that it is a product that will be of immense benefit to prescribers as the synergistic mode of action combines the needed qualities required in effective management of hypertension, a feature that bestows the brand as the logical combination for the black hypertensive. "Beyond all these, we are working on other products that are currently on different levels of R & D in relevant therapeutic segments such as analgesics and cough syrups and with exciting flavour variants and pack extensions. "Others are anti-malarials, hand sanitisers and different types of injectables, which cut across new pack revisions, pack extensions with highly acceptable levels of innovation." Conclusion Considering the various challenges faced by the industry, Neimeth has no choice but to continually adopt new business strategies to fit the dynamic operating environment.

MONDAY, JANUARY 4, 2016 NEW TELEGRAPH

Insurance 2016 IN PERSPECTIVE

The initiative by the Federal Government to pay out N5,000 stipends to the unemployed and vulnerable will mark a new beginning in the country’s social insurance sphere depending on the outcome of implementation in the months ahead, Sunday Ojeme reports

Social Security: Initiative as game changer Comrade Basir Lawal, the labour union has advised the Federal Government on the best way to organise the programme in order to forestall what happened during the regime of Obasanjo. Speaking with New Telegraph, he said: We have advised the Federal Government to ensure that adequate machineries are put in place otherwise the monies budgeted would go into wrong hands. The programme, as good as it is, should not be seen as another settlement channel for party loyalists and politicians. “Obasanjo also started such a programme with a promise to pay N3,500 to the unemployed but top officials of local government enriches themselves through the programme with nothing getting to those it was meant for.”

or years, social and economic opinion moulders in the country had clamoured for a social security system for the unemployed. Considering the available human and natural resources in the country and the failure of those in authority to give Nigerians a befitting standard of living through well paid employment, experts had suggested that stolen wealth be channeled into social welfare programmes in order to lessen the burden of risks on the jobless and vulnerable. Over the years, the poor and the jobless have not only been vulnerable to all sorts of risks, but have also been easy tools in the hands of desperate politicians and the wealthy, who use them to foment trouble whenever they like. In civilised climes, apart from using payment of stipends to check societal defects, it also gives a sense of belonging to those who benefit from it. Social Security is one of the largest government programs in the world, paying out hundreds of billions of dollars per year. The term in the United States refers to a specific social insurance program for the retired and the disabled. Elsewhere like Nigeria, the term is used in a much broader sense, referring to the economic security society offers when people are faced with certain risks. One of the earliest American advocates of the plan that could be recognised as modern social insurance was Theodore Roosevelt. In 1912, Roosevelt addressed the convention of the Progressive Party and made a strong statement on behalf of social insurance. He said: "We must protect the crushable elements at the base of our present industrial structure... it is abnormal for any industry to throw back upon the community the human wreckage due to its wear and tear; and the hazards of sickness, accident, invalidism, involuntary unemployment, and old age should be provided for through insurance." Although President Olusegun Obasanjo tinkered with the idea during his administration by proposing to place the unemployed on N3,500 monthly, it was, however, abused as top officials of local government swindled

Buhari

whatever was budgeted. This time around and in making good his promise, President Muhammadu Buhari, while presenting the N6.8 trillion 2016 budget to the lawmakers, made a N500 billion reservation for social welfare needs for the unemployed and vulnerable. Expectedly, although the Federal Government had given assurance on its smooth workability, certain reservations are still being anticipated over its implementation. Announcing the cheering news, the Federal Government explained that the initial delay in the commencement of the payment was because it was not captured in the 2015 budget. The Minister of Youth and Sports, Solomon Darlong, said President Muhammadu Buhari’s administration would fulfill every of his campaign promises including the payment of N5,000 stipends to unemployed Nigerians. The minister said: “I want the youths to understand that every promise must be backed up by budgetary provision and our promise to pay N5,000 is not contained in the 2015 budget. So, definitely, it is going to begin in 2016 as we have made budgetary allocations for that." As the programme takes off this year, it is assumed that those in charge would have put enough plans on ground to make it a success.

Minister of Finance, Mrs. Kemi Adeosun

The hazards of sickness, accident, invalidism, involuntary unemployment, and old age should be provided for through insurance

According to the Minister of Information and Culture, Mr. Lai Mohammed, part of what “we intend to do with the half a trillion naira is to train market women, artisans and unemployed graduates in the art of management and also give them loans to start their own businesses. Part of our social intervention also includes the transfer of N5,000 to the most vulnerable people. “And we are being partnered in this by the World Bank and other multilateral organisations. It has been done in many countries before and we believe that it can be done here. Many people have written ridiculously about N5,000 and claimed that it is not up to what they spend on recharge cards. And we said yes, those who are writing such things are not the average Nigerians we are seeking to help. “If you look at the lady who is selling water melon or pawpaw, she does not have up to N5,000 capital. People don’t know that N5,000 can be meaningful for many Nigerians because they are too comfortable in their corners. They do not know that N5,000 can make the difference between life and death for many Nigerians." As the programme effectively takes off this year, the expectation of Nigerians is the assurance that it would run without any hitch. According to the General Secretary, association of Senior Civil servants of Nigeria (ASCSN),

Sectorial expectations For the insurance sector proper, not much is expected beyond the traditional premium collection/ renewal and claims payments as the case may be. For an industry that has been stunted for years and operating deliberately on the hinges of luck and slanted patronage, the absence of creative product design and initiative to beat the odds for the development of the sector are still expected to be dominant features. At the beginning of every year, stakeholders in the sector are always quick to raise the bar with projections on how the industry would be taken to its desired place as the major pillar of the economy. This zeal, however, macerates in the first quarter of operation due to the sustained excuse of public apathy and lack of disposable income, the simple reason it has dragged on for years with penetration still below six per cent and contributing abysmally to the nation’s Gross Domestic Product (GDP). Save for the new Ministry of Finance’s renewed interest in the industry, things are probably expected to go the same way. Insurers’ Committee With the minister, Kemi Adeosun, constituting the Insurers’ Committee, a similar body to the Bankers’ Committee, where some monetary policy decisions are taken, the insurance sector is likely to become more vibrant even if at the level of redrafting issues that would maximally impact on its operations. Stakeholders and industry watchers in the months ahead would keep a close watch on the activities of the committee to see if its creation will impact any change on the sector.

Business | Insurance

NEW TELEGRAPH MONDAY, JANUARY 4, 2016

Shareholders defend underwriters’ high expenses OUTCRY There is a general outcry over insurers' inability to pay dividend Sunday Ojeme

he Coordinator, Independent Shareholders Association of Nigeria (ISAN), Sir Sunny Nwosu, has said that the need to recruit and retain the best hands by operators in the insurance sector makes high management expenses inevitable.

He noted that the acclaimed huge management expenses was often incurred in a bid to engage capable personnel to drive affairs of organisations , stressing that good services are not cheap anywhere in the world and that organisations that want to be at the top should be ready to pay for the services of professionals. He said: “If you want the best you have to pay for it, if any regulator is coming to take up an executive job, in some of these companies, you need to know how much such person would earn and the salary becomes

personal to that person. “The regulator cannot just be in their cosy offices and say management expenses are high. Go and ask for the regulator’s audited accounts, you would see certain things that you would not believe.” He, however, suggested that henceforth, payment of fines imposed on insurance companies

should be deducted from whatever should accrue to the managements and boards of the errant firms, stressing that allowing management and board to pay fine would help reduce infractions and keep executives on their toes. He expressed misgivings on how shareholders were allowed to suffer for crimes they know

nothing about, adding that the huge amounts paid as fine would have accrued to shareholders as dividends. “Penalties do not give any value to top executives, it is shareholders money that is thrown away, and that was why ISAN has spearheaded a situation to say that if any company is penalized, the management

and board should be held responsible to reform the money,” he said. He noted that the idea was muted to check the care free attitude of some management and board, stressing that making the parties responsible for the penalties would make them play with caution and protect shareholders’ investments.

Drought risk: Insurer seeks to reforest landscape

s more and more corporations voice their support for robust climate action, insurance companies in particular are becoming increasingly vocal about the need to curb emissions and reduce climate risk. treehugger reports that their ability to reduce the specific risk they are exposed to, however, is often limited. While they can buy renewable energy and call for strong legislative action, no single insurance company -however large - can really hope to move the needle on global climate action by itself. On a local level, however, that's not always the case. Take this recent story in The Guardian, for example, documenting how Santam, South Africa's largest provider of agricultural insurance, has teamed up with conservation non-profits to support large-scale tree planting and water catchment restoration. Specifically, the company has been working with its partners in the countryside surrounding Port Elizabeth - South Africa's 5th largest city - to plant 3.7 million trees in the hopes of improving water catchment, pre-

vent erosion and alleviate drought conditions that have persisted off and on since 2007. Far from being a simple case of corporate philanthropy, Santam couches its investments firmly in terms of a business imperative. In fact Ray-Ann Sedres, head of integrated sustainability at Santam, told The Guardian that the company's likelihood of sustainability is "highly dependent on this." As climate change impacts move increasingly from predictions into reality, I expect to see many more such projects cropping up from insurance companies. Not only will they continue with mitigation efforts, like Legal & General's recent investment in onshore wind, but they will also be looking at new and innovative ways to reduce exposure in regions hardest hit by climate change. Whether it's large-scale reforestation and agroforestry, drought resistant farming or climate-resilient cities, there's no shortage of ideas needing support and funding. The insurance industry would be wise to step up its search for solutions now.

L-R: Divisional Head, Retail Bank, Fidelity Bank Plc., Richard Madiebo; Regional Manager, Anglophone West Africa, MoneyGram, Kemi Okusanya; Executive Director, Lagos and South West, Nneka Onyeali-Ikpe and Regional bank Head, Apapa Regional Bank, Obaro Odeghe, at the unveiling of brand new KIA RIO (Grand Prize) for the MoneyGram Scratch and Win promotion in Lagos.

Sigma Pensions pays N45bn to clients

igma Pensions Limited, one of the Pension Fund Administrators (PFAs) in the country, has so far paid about N45 billion as benefits to its clients. Within the last 10 years of its operation, it has also registered over 650, 000 subscribers while N250 billion is currently under its management. Disclosing this in a statement, the Managing Director and Chief Executive Officer, Umaru Modibbo, said that the organisation was also in the process of consolidating all its

achievements in mergers and acquisition. He said that this year the organisation would bring in two or more acquisitions into its plan. According to him, “We are celebrating 10 years in the industry. We are moving to a greater height and the pension industry is a fast growing industry and that is where we are heading as well. “We are just saying ok we have done 10 years. I think for you to register 650,000 members it is not a small thing and for you to manage N250 billion

as a financial institution and that one we have something to celebrate.” While restating the security of the new pension scheme, he pointed out that the tripartite arrangement among the PFAs, Pension Fund Custodians and the National Pension Commission (PenCom) makes it practically impossible for fraud to be perpetrated. He said: “This our new scheme is a contributory pension scheme. There is no leakage in that one and I can say to an extent is still perfect fraud free.

“We have check and balances. We have the administrator, custodian and the regulator and we are all balancing on daily basis. “This one is individualized and it is being managed, whatever happen to your account you can come and call what is happening to my money. “We give you statement on a quarterly basis for each credit that goes to your account you will see an alert. So, how can the money get missing, since your account has been paid nobody can take it back even your employers.”

NCRIB commiserates with victims of fire disasters

he Nigerian Council of Registered Insurance Brokers (NCRIB) has condoled with management of Galaxy Television which station was gutted by fire recently in Lagos. The Council also extended the same message to victims of recent fire outbreak in Lagos and other parts of the Country. In a release signed by

President, Mr. Kayode Okunoren, the Council noted that it was most regretful that the outbreaks of fires have become a recurring decimal in the country, draining the nation of substantial material resources and loss of human lives. Okunoren stated that individuals and business owners needed to devote

more attention to risk prevention mechanisms, of which, insurance is pivotal, in preserving their material resources. “Individuals and business owners need to understand risk vulnerability occasioned by the present harsh weather conditions and poor town planning policies, and in so doing, engage insurance experts to ad-

vise them on risk prevention”, Okunoren advised. He said while the painful incidents of fires with its ravenous effects had been witnessed in Ibadan, Nnewi and Kaduna in recent times, Lagos State has also had its painful share of the incident. He however enjoined state government to get involved in massive

education of its citizens on need to engage risk prevention mechanism with special emphasis on insurance. Recently, the Lagos State Fire Service disclosed that 1,898 fire incidents were recorded in 2015 with billion of naira lost and 80 deaths. The records show that the outgoing year recorded 200 fire incidents

over that of previous year. The NCRIB advocated a synergy between the insurance industry and various organizations and agencies to continually brainstorm of preventive strategies and evolvement of public enlightenment activities to reduce the menace of fire incidents in the country.

Business | Financial Market News

MONDAY, JANUARY 4, 2016 NEW TELEGRAPH

FMDQ Daily Quotations List

31-Dec-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

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)

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 20.00 100.00 300.00 351.30 233.90 451.93 605.31 719.99 75.00 150.00 200.00 591.57 1075.92

TOTAL OUTSTANDING VALUE

5,936.44

TOTAL MARKET CAPITALISATION

6,456.23

Rating/Agency

Issuer

Description

Maturity Date

TTM (Yrs)

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

0.63 1.32 1.57 1.67 2.41 3.49 3.81 4.12 6.08 8.20 12.91 13.39 13.89 14.56 18.55

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

7.55 8.61 8.83 8.89 9.46 10.14 10.74 10.86 11.04 11.09 11.24 11.24 11.23 11.10 11.10

5.96 7.85 8.14 8.24 8.99 9.83 10.39 10.59 10.84 10.92 11.12 11.10 11.07 10.95 10.98

103.29 107.91 101.46 100.67 102.61 116.88 88.52 115.17 123.19 116.44 125.27 108.55 80.98 92.15 108.14

104.29 108.91 102.46 101.67 103.61 117.88 89.52 116.17 124.19 117.44 126.27 109.55 81.98 93.15 109.14

5891.438936

Issue Date

Coupon (%)

03-Apr-12

17.25

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

Risk Premium (%)

Valuation Yield (%)

Modelled Price

1.50

03-Apr-17

0.71

2.94

10.67

104.40

Agency Bonds Nil

17.25 FMB II 03-APR-2017

FMBN

TOTAL OUTSTANDING VALUE

1.50

TOTAL MARKET CAPITALISATION

1.57

Sub-National Bonds BBB+/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

1.30

30-Jun-16

0.50

4.46

11.70

101.09

A/Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

2.05

30-Jun-16

0.50

3.48

10.72

102.27

A+/Agusto; ‡ /GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

1.30

3.34

11.98

97.65

A-/Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

16.45

30-Jun-17

1.02

1.00

9.45

104.07

A-/Agusto

EDO

14.00 EDO 31-DEC-2017

31-Dec-10

14.00

25.00

31-Dec-17

2.00

3.94

13.08

101.57

A/Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

27.25

30-Sep-18

1.60

1.00

9.84

105.84

14.00

4.91

04-Oct-18

1.61

1.00

9.85

105.87

A-/Agusto; A-/GCR

*NIGER

14.00 NIGER II 4-OCT-2018

04-Oct-11

‡ /Agusto; A-/GCR†

*EKITI

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

10.98

09-Dec-18

1.79

2.21

11.20

105.11

A-/Agusto

*NIGER

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

8.14

12-Dec-18

1.80

2.64

11.63

103.65

A-/Agusto; A-/GCR

*ONDO

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

24.44

14-Feb-19

1.77

1.00

9.97

108.52

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

13.87 80.00 22.72

02-Oct-19 22-Nov-19 12-Dec-19

2.20 3.89 2.26

2.02 1.00 1.00

11.31 11.86 10.34

107.68 108.02 108.56

Aa-/Agusto; ‡ /GCR

LAGOS

13.50 LAGOS 27-NOV-2020

27-Nov-13

13.50

87.50

27-Nov-20

4.91

1.03

12.25

104.49

A-/Agusto; BBB+/DataPro

KOGI

15.00 KOGI 31-DEC-2020

31-Dec-13

15.00

5.00

31-Dec-20

5.00

2.39

13.61

104.91

‡ /Agusto

*EKITI

14.50 EKITI II 31-DEC-2020

31-Dec-13

14.50

4.03

31-Dec-20

3.04

1.00

10.94

108.73

A-/GCR

*NASARAWA

15.00 NASARAWA 06-JAN-2021

06-Jan-14

15.00

4.31

06-Jan-21

2.87

1.00

10.81

109.72

A-/Agusto

*BAUCHI

15.50 BAUCHI 9-DEC-2021

09-Dec-14

15.50

14.37

09-Dec-21

3.97

1.52

12.01

109.63

A-/Agusto

*OYO

16.50 OYO 16-FEB-2022

17-Feb-15

16.50

4.61

16-Feb-22

3.68

3.67

14.22

105.98

Bbb-/Agusto

*BENUE

16.50 BENUE 27-FEB-2022

27-Feb-15

16.50

4.75

27-Feb-22

3.70

1.00

11.59

113.79

Bbb+/Agusto

*PLATEAU

17.50 PLATEAU 30-MAR-2022

30-Mar-15

17.50

27.10

30-Mar-22

4.03

2.52

13.28

111.73

17.00 KOGI II 31-MAR-2022 17.00 CROSS RIVER 27-MAY-2022

01-Apr-15

17.00

3.00

31-Mar-22

6.46

1.79

13.09

116.26

27-May-15

17.00

7.68

27-May-22

3.97

3.04

14.00

108.47

A-/Agusto A-/GCR

KOGI *CROSS RIVER

456.45 482.05

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Corporate Bonds BB/GCR

*CHELLARAMS

14.00 CHELLARAMS 06-JAN-2016

06-Jan-11

14.00

0.22

06-Jan-16

0.02

2.63

2.69

100.13

A+/Agusto; A-/GCR

NAHCO

13.00 NAHCO 29-SEP-2016

29-Sep-11

13.00

15.00

29-Sep-16

0.75

1.00

8.83

102.91

A-/Agusto Nil Nil Nil A/GCR

FSDH

14.25 FSDH 25-OCT-2016 0.00/16.00 LCRM 08-DEC-2016 0.00/16.50 LCRM II 19-APR-2017 0.00/16.50 LCRM III 06-JUL-2017 13.00 UBA 30-SEP-2017

25-Oct-13 09-Dec-11 20-Apr-12 06-Jul-12 30-Sep-10

14.25 0.00/16.00 0.00/16.50 0.00/16.50 13.00

5.53 112.22 116.70 66.49 20.00

25-Oct-16 08-Dec-16 19-Apr-17 06-Jul-17 30-Sep-17

0.82 0.94 1.30 1.51 1.75

1.34 1.00 2.56 1.08 2.38

9.34 9.29 11.20 9.86 11.34

103.74 105.88 106.20 109.13 102.53

***LCRM UBA *C & I LEASING *DANA#{r}

18.00 C&I LEASING 30-NOV-2017

30-Nov-12

18.00

0.46

30-Nov-17

1.20

1.88

10.45

109.03

Nil

MPR+7.00 DANA 9-APR-2018

09-Apr-11

16.00

4.50

09-Apr-18

1.27

3.15

11.77

104.73

A-/DataPro†; B-/GCR

*TOWER#

MPR+7.00 TOWER 9-SEP-2018

09-Sep-11

18.00

2.18

09-Sep-18

1.44

1.00

9.73

110.60

AAA/DataPro†; BB+/GCR

*TOWER#

MPR+5.25 TOWER 9-SEP-2018

09-Sep-11

16.00

0.60

09-Sep-18

1.44

1.00

9.73

108.04

A+/Agusto; A/GCR

UBA

14.00 UBA II 30-SEP-2018

30-Sep-11

14.00

35.00

30-Sep-18

2.75

1.00

10.71

107.60

BBB+/Agusto; BBB+/GCR

*LA CASERA *CHELLARAMS#

15.75 LA CASERA 18-OCT-2018

18-Oct-13

15.75

1.80

18-Oct-18

1.55

5.27

14.08

102.11

MPR+5.00 CHELLARAMS II 17-FEB-2019

17-Feb-12

18.00

0.32

17-Feb-19

1.63

6.11

14.98

104.01

BBB-/GCR

BBB-/DataPro†; BB/GCR

#{r}

Nil

*DANA

16.00 DANA II 1-APR-2019

01-Apr-14

16.00

4.50

01-Apr-19

2.00

3.28

12.42

105.99

A+/Agusto; A-/GCR

NAHCO

15.25 NAHCO II 14-NOV-2020

14-Nov-13

15.25

2.05

14-Nov-20

4.87

1.00

12.22

110.85

BBB/GCR

*FCMB

14.25 FCMB I 20-NOV-2021

20-Nov-14

14.25

26.00

20-Nov-21

5.89

1.64

12.93

105.27

A/GCR

UBA

16.45 UBA I 30-DEC-2021

30-Dec-14

16.45

30.50

30-Dec-21

6.00

1.00

12.30

117.23

BBB/GCR

FIDELITY

16.48 FIDELITY 13-MAY-2022

13-May-15

16.48

30.00

13-May-22

6.37

3.90

15.20

105.03

A-/GCR

*TRANSCORP HOTELS PLC

16.00 TRANSCORP 26-OCT-2022

26-Oct-15

16.00

10.00

26-Oct-22

4.53

2.77

13.97

106.40

A/GCR

STANBIC IBTC

182D T.bills+1.20 STANBIC IA 30-SEP-2024

30-Sep-14

16.29

0.10

30-Sep-24

8.75

1.00

12.30

120.99

A/GCR

STANBIC IBTC

13.25 STANBIC IB 30-SEP-2024

30-Sep-14

13.25

15.44

30-Sep-24

8.75

1.00

12.30

104.98

AAA/GCR

*NMRC

14.90 NMRC 29-JUL-2030

29-Jul-15

14.90

7.94

29-Jul-30

9.83

1.00

12.28

114.13

10-Oct-20

2.70

3.37

13.05

103.67

TOTAL OUTSTANDING VALUE

507.55

TOTAL MARKET CAPITALISATION

543.03

Sukuk BBB-/Agusto

*OSUN

10-Oct-13

14.75 OSUN II 10-OCT-2020

14.75

10.12

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

10.12 10.49

Supranational Bond AAA/S&P

IFC

10.20 IFC 11-FEB-2018

11-Feb-13

10.20

12.00

11-Feb-18

2.12

1.00

8.31

103.57

Aaa/Moody's; AAA/S&P

*AfDB

11.25 AFDB 1-FEB-2021

10-Jul-14

11.25

12.95

01-Feb-21

3.34

1.00

11.18

100.16

Maturity Date

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE

24.95 25.40

TOTAL MARKET CAPITALISATION Rating/Agency

Issuer

Description

Issue Date

Coupon (%)

Outstanding Value ($mm)

FGN Eurobonds

Prices & Yields

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

FGN

BB-/Fitch; BB-/S&P

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

8.59

8.32

92.54

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

7.30

6.81

95.08

96.15

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

8.67

8.44

87.50

88.66

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,375.62

93.62

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

5.24

100.80

B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

8.82

97.75

B/Fitch; B/S&P

FIDELITY BANK PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

16.81

15.24

81.36

84.01

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

8.83

93.00

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

9.11

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

12.57

11.94

89.73

91.31

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

11.68 12.59 12.49

87.82 87.25 82.00

B-/S&P

ECOBANK NIG. LTD

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

12.23

11.76

84.88

86.63

TOTAL OUTSTANDING VALUE

3,650.00

TOTAL MARKET CAPITALISATION

3,295.30

**Treasury Bills^ DTM 7 14 21 28 35 42 49 56

FIXINGS Maturity 7-Jan-16 14-Jan-16 21-Jan-16 28-Jan-16 4-Feb-16 11-Feb-16 18-Feb-16 25-Feb-16

Bid Discount (%) 0.47 0.61 0.95 0.96 1.07 1.71 0.98 1.01

Offer Discount (%) -0.04 0.11 0.45 0.46 0.57 1.21 0.48 0.51

Bid Yield (%) 0.47 0.61 0.95 0.96 1.08 1.71 0.98 1.01

Money Market

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 1.0000 8.9539 10.6781 12.7629

Tenor

Rate (%)

OBB

0.50

O/N Tenor Call 1M

1.00

REPO

Rate (%) 1.33 3.83

Foreign Exchange (Spot & Forwards) Tenor

Bid ($/N)

Offer ($/N)

Spot 7D 14D 1M 2M 3M

199.25 199.31 200.10 200.86 201.83 207.19

199.35 199.62 200.45 201.46 202.63 208.49