New telegraph monday, november 9, 2015 binder1

Nigeria close to oil discovery in Chad Basin – Kachikwu

Loneliness leads to poor diet - Study }7

}4

N1trn fine: MTN must comply with Nov 16 deadline –NCC lLawyers sue telecoms regulator Kunle Azeez

B

arring last-minute change of decision on the part of gov-

ernment, MTN Nigeria is expected to pay up the N1.04 trillion imposed on it in the next seven days, New Telegraph learnt yes-

terday.

The telecoms company had been fined $5.2 billion for failing to de-active 5.1 million unregistered SIM

cards on its network.

NCC had set November 16 deadline for the telecoms company to pay up the fine.

The penalty relates to the timing of the disconnection of 5.1 million subscribers and is based on a CONTINUED ON PAGE 2

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Monday, November 9, 2015

Dasuki returns to court as DSS continues siege on residence }4

/newtelegraph

Vol. 2 No. 628

Dasuki

Olubadan's deputy, Omiyale, dies at 91 }7

@newtelegraph1 www.newtelegraphonline.com

N150

Buhari to swear in ministers Wednesday }3

The late Omiyale

Buhari

APC’s ‘onslaught’ unsettles PDP }2 & 41

lFears over Rivers, Kogi, Bayelsa lWe’ll resist one-party state – Governors lSeven killed as violence rocks Taraba lPDP paying for its impunity – Lai Mohammed Navy hands over six impounded vessels, 15 oil thieves to NSCDC }7

A 3,000-metric ton MT Everest vessel impounded by the Nigerian Navy at Okirika Local Government Area of Rivers State…yesterday.

PHOTO: NAN.

Airforce invades Benue community, destroys 20 houses }9

2

News

MONDAY, NOVEMBER 9, 2015 NEW TELEGRAPH

APC’s ‘onslaught’ unsettles PDP Donald Ojogo Abuja

P

alpable tension appears to have enveloped the leadership of the opposition Peoples Democratic Party (PDP) following the series of judicial setbacks it has suffered in the last three weeks.

The party fears that it might lose three more states – Bayelsa, Kogi and Rivers – before January next year.

These fears became heightened with Saturday’s Taraba State governorship election tribunal’s verdict that invalidated the election of Governor Darius Ishaku.

The election tribunal had equally made a consequential order declaring Senator Aisha Jumai

Al-Hassan of the All Progressives Congress (APC), a minister-designate, as the governor-elect.

Governor Ishaku has condemned the tribunal’s verdict vowing to appeal against it. His party, the PDP, as well as the Ekiti State Governor, Ayodele Fayose, has also taken a swipe at the verdict.

Also speaking on the condition of anonymity, a member of the PDP Board of Trustees (BoT) expressed regrets that the ruling APC had embarked on an onslaught against his party.

Already, both Governors Idris Wada and Seriake Dickson of Kogi and Bayelsa states respectively, have warned that democracy was at risk if such onslaught was planned for the two states ahead of the governorship elections.

November 21 and December 5 are the dates set for the governorship elections in Kogi and Bayelsa states respectively.

But APC has taunted the opposition party, saying that it was paying for its past impunity.

The PDP BoT member, however, said it was disturbing that his party was fast becoming decimated through the courts.

The source said: “First, it was Akwa Ibom, later it was Rivers and now Taraba; what we are witnessing is an onslaught against the PDP. The party has made its position clear on the matter, but the truth needs to be told that it is very disturbing to us, most of us at the level of the leadership have been disturbed and worried over the development.

“When the Akwa Ibom

verdict was given, we all smelt a rat because you either order for a fresh poll or uphold the election of the governor, but the way that judicial conclusion was reached still baffles us as a party.

“If that of Akwa Ibom was bad, then that of Rivers was a calamity as the entire election was declared invalid, yet the same prayers in the Lagos case were thrown away.

“And now we have seen that of Taraba State. We are still worried why this onslaught is being perpetrated. If they want to turn Nigeria to a one-party state they should let us know because from the way things are going, the APC wants to use what is referred to as federal might to intimidate our party.

“As it is, even the elections of Kogi and Bayelsa

L-R: Executive Director, Business Development, The Nigeria Stock Exchange (NSE), Mr. Haruna Jalo-Waziri; Acting Group Managing Director, Dangote Sugar Refinery Plc., Mr. Abdullahi Sule; Company Secretary/Legal Adviser, Ms. Chioma Madubuko and Executive Director, Corporate Communication and Stakeholder Management, Dangote Group, Engr. Mansur Ahmed, at the NSE in Lagos... at the weekend.

states are becoming more and more threatened by the antics of APC. What about our appeal for the Rivers case? Are we not heading same way?”

On its part, the PDP Governors’ Forum has also taken a swipe at the Taraba verdict, alleging that the judiciary was working in tandem with the APC to take over PDPcontrolled states.

In a statement issued in Abuja on Sunday by the Administrator of the forum, Earl Osaro Onaiwu, the governors said that they were alarmed by the ‘judicial buccaneering,’ following the annulment of Ishaku’s election.

The PDP Governors’ Forum said that the conduct of the tribunals in cases involving the PDP leaves much to be desired as it falls short of any time honoured norms of transparency and justice.

They accused the judiciary of being a pawn in the chessboard of the APC. “What has become evident is that the judiciary has cornered itself by becoming a pawn in the chessboard of APC buccaneering tactics in cases concerning governors elected on the platform of the PDP. “If it were not so, why the contradictory judgements emanating from the tribunals even in cases of clear precedence?

In Lagos, the tribunal discountenanced the use of card readers and denied the PDP its victory in the face of overwhelming evidence.

“Curiously, other tribunals, weeks after, in the matter of Akwa Ibom and Rivers states ruled on the sanctity of the card

N1trn fine: MTN must comply with Nov 16 deadline – NCC CONTINUED FROM PAGE 1

charge of N200,000 ($1,005) for each unregistered customer.

“Well, to the best of my knowledge, the November 16 date remains sacrosanct and I am not aware of any decision regarding a change in date,” a top management source, who spoke from Abuja, told New Telegraph yesterday.

“So, I want to believe that MTN has just seven days left, up until Monday next week to pay the fine, except there is anything to the contrary in the course of talks this week.”

MTN continues talks with government authorities in Nigeria for a soft landing, a source at MTN, privy to the development, said on Sunday.

MTN Group is trying to

reduce a $5.2 billion fine imposed by Nigeria’s telecommunications regulator by as much as 80 per cent and is considering borrowing money from banks to help settle the penalty, said Bloomberg, quoting Renaissance Capital.

“MTN is pushing to reduce the fine by 60 per cent to 80 per cent,” Adesoji Solanke, RenCap’s head of research in Nigeria, said in a note to clients on Wednesday, citing a bank he didn’t identify.

A second lender said that “MTN is considering borrowing from banks, as it recently checked what the banks’ lending capacity to it is,” the analyst said.

“We don’t comment on banking matters and banking regulators in Nigeria are best placed to provide context on these matters,”

MTN spokesman, Chris Maroleng, said by phone.

“I don’t have that information,” Tony Ojobo, a spokesman for NCC, said in a text message.

Meanwhile, two lawyers, Oluyinka Oyeniji and Deolu Ogunbanjo, have instituted a legal suit against the regulator as first respondent and MTN Nigeria as second respondent over the SIM registration issue.

The lawyers, both MTN subscribers and incorporated trustees of the National Association of Telecoms Subscribers (NATCOMS), are challenging the NCC at the Federal High Court in Lagos, praying the court to stop NCC from further imposition of any fine on the telecoms firm.

They also want the

court to compel NCC to account for all the monies it collected from telecoms operators in the past as fines, and to pay such monies to subscribers as compensation for poor service quality they had suffered in the past.

According to the court documents, both lawyers, who are applicants one and two respectively in the court case, are calling for an order of perpetual injunction, restraining the first respondent (NCC) from further imposing or exerting any fine in respect of registration of telephone subscribers on the second respondent (MTN).

They called for an order mandating NCC to commission, establish and conduct monthly updates on the central database and

to conduct rigorous campaign for applicants and other telephone subscribers to update their particulars with the respondents.

They equally called for an order mandating the respondents to publish newspaper apologies to the applicants and other telephone subscribers for the lack of establishment, maintenance and conducting updates on the central database.

In a sworn affidavit, the lawyers mandated NCC to account for all the fines it had imposed on telecoms operators and pay applicants as well as other telephone subscribers as compensation and to continue to pay fines exerted and imposed upon conviction as compensation to applicants and other telephone subscribers.

reader because it favours the APC. The most telling bias of the judiciary is in the Taraba tribunal ruling.

“Is it not magical that the tribunal could conjure answers to prayers not asked by the APC and its governorship candidate?

Did the PDP not ask for the disqualification of the APC candidate in Benue State, who decamped from the party and the next day was made the APC candidate without primaries?

But the tribunal found it convenient to overlook this issue.

“Does the tribunal have the powers to declare any other candidate winner in the light of the Electoral Act 2011 as amended? The onus of a winner rests only with the electoral body, the INEC and no court. What the Taraba tribunal has exposed is the grand design of the APC to entrench a one-party state through the courts and this the PDP governors will resist.

“The forum is confident that the judiciary still has the opportunity to redeem itself at the appellate and apex courts.”

Also, the Chief Communications Officer to Governor Wada of Kogi State, Phrank Shuaibu, has warned that the state governorship election was critical to the nation’s democracy.

“The Kogi election is very vital to Nigeria’s democratic experience, not just because it is the first major election that is going to be conducted under the supervision of a new president, but for the reason that it will serve well as a litmus test for President Muhammadu Buhari’s integrity and fight against corruption.

“Whether President Buhari decides to bungle the election with his federal might, waste his goodwill in the name of partisan politics or conduct a credible election, history will document him as appropriate and the international community will act in accordance to their observation.

“For us in the PDP, we do not believe that Mr. President will seek new ways to disgrace Nigeria, but we are clear eyed and focused on working for victory at the polls.

“However, we are not insensitive to the possibility of a hidden agenda. Already, the APC has exposed its insincerity to the Kogi electorate on its so-called change mantra by thrusting upon the good people of Kogi State a candidate that is undergoing trial.”

Similarly, the DirectorGeneral of Governor Dickson’s campaign organisaCONTINUED ON PAGE 5

News

NEW TELEGRAPH MONDAY, november 9, 2015

3

CCT trial: S'Court fixes Nov 12 for hearing of Saraki's appeal

lOnly political solution can save Senate president – Senators Tunde Oyesina and Chukwu David ABUJA

T

he Supreme Court has fixed November 12 for hearing of the appeal filed by the Senate President, Senator Bukola Saraki, challenging the legality of his trial

by Federal Government at the Code of Conduct Tribunal (CCT) on false asset declaration.

Saraki is standing trial on a 13-count charge of alleged false assets declaration.

The Senate President had earlier filed an appeal to challenge the legality of his trial at the CCT, but the Court of Appeal dismissed the appeal.

Not satisfied, Saraki had approached the Supreme Court, seeking to set aside the decision of the appellate court.

Meanwhile, Saraki’s legal team has denied that they walked out on the CCT at the last adjourned date to protest the alleged bias of the tribunal against their client.

At the last adjourned date, the three Senior Advocates of Nigeria (SAN), namely Mahmoud Magagi, Ahmed Raji and Saka Abimbola Isau, were said to have withdrawn their services and left the tribunal abruptly.

However, Raji, in a statement, debunked claims that the Saraki’s legal team walked out on the tribunal.

The Senior Advocate clarified that the legal team only sought and obtained permission to leave the tribunal pending when the issues at the Supreme Court would be settled, which he noted, was granted by the tribunal chairman.

Raji further clarified that even though he disagreed with the mode of the proceedings, he has utmost respect for the tribunal and never used the words ‘Judicial rascality’ as was being attributed to him.

The statement further reads: “At the resumed hearing of the case against Dr. Abubakar Bukola Saraki (‘our client’) before the Code of Conduct Tribunal on the said November 5, 2015, we, as defence counsel, notified the tribunal that we have filed an appeal to the Supreme Court against the decision of the Court of Appeal, wherewith we filed a Motion on Notice for Stay of Proceedings of the tribunal pending the determination of the appeal.

“Consequent on the

foregoing and citing a plethora of judicial authorities on the point, we respectfully urged the tribunal to adjourn the matter pending the determination of our client’s appeal filed at the Supreme Court or in the least, to await the outcome of the Motion on Notice for Stay of Proceedings filed at the Supreme Court.

“However, the tribunal overruled our application and insisted on continuing with the case. At that juncture and conscious of my responsibilities to the defendant, I sought the leave of the tribunal to withdraw my appearance and that of other defence counsel, which was granted by the tribunal.

“It was on that basis that I left the venue of the tribunal’s sitting. I did not at any point use or utter the words ‘Judicial Rascality’.”

Meanwhile, some senators are of the view that only political solution can rescue Saraki from the CCT tribunal.

One of the Like Minds Senators, who confided in New Telegraph, said that there was high-level conspiracy by those who felt slighted by the emergence of Saraki, not just to remove him from office, but also to jail him ultimately.

He said: “My friend, you people will never allow somebody to rest. You know that this matter is in court and we are not supposed to be making comments on it. However, I can tell you that I am sensing serious conspiracy within and without the Senate against the person of Saraki in this matter.

“You know that the leadership of APC and even the Presidency are still feeling very hurt and slighted by the defiant attitude of Saraki towards the decision of the party on the constitution of the leadership of the Senate.

I believe that these people are bent on doing something funny against the Senate president, to punish and teach him a hard lesson.

“But this is not the change we fought and voted for in the last general elections. That is why those of us in the Like Minds stand solidly behind our president because we voted for him to be our leader. We have an obligation to continue to support and defend him.

“However, I must confess that the matter is beyond the Senate. There is virtually nothing we, the Senators, can do to save the situation, but I also know that there are underground moves to find polit-

ical solution to the matter.

When this is done, you will just see that the court will strike out the case or give judgement in favour of Saraki,” the senator stated.

Also, another member of the Red Chamber, who spoke to our correspondent on the condition of anonymity, equally harped on political solution to the court trial, as the only vi-

able option to save him from going to jail.

He said: “Well, the political solution is what everybody is talking about because, from what is going on, the CCT appears to have defied normal judicial process by insisting on continuing with the trial, despite the appeal filed at the Supreme Court by the president of the Senate, of

which the CCT was properly served.

“So, in finding a political solution, some individuals can prevail on President Muhammad Buhari to prevail on the Code of Conduct Bureau (CCB), to either withdraw the suit or the CCT can just stall the case by giving an indefinite adjournment, and from there nobody will

talk about it again.

“To achieve this, they can agree that there is a legal loophole in what both the CCB and CCT have done so far, and from there, the matter can be thrown out of the court.

But if you allow them to continue with the case legally, there is palpable fear, my brother, as you journalists would say.”

L-R: Senator Aliyu Wamakko; Senate President Bukola Saraki and Sokoto State Governor, Hon. Aminu Tambuwal, during the wedding of Wamakko's daughter in Sokoto...at the weekend.

Buhari to swear in ministers Wednesday lINEC chairman, commissioners take oath today

Anule Emmanuel Abuja

P

resident Muhammadu Buhari will on Wednesday inaugurate a new Federal Executive Council (FEC) at the Presidential Villa, Abuja.

The president will also today swear in the newly appointed chairman of the Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu and five commissioners recently confirmed by the Senate.

A statement by the Special Adviser on Media and Publicity to the President, Mr. Femi Adesina, yesterday, said that before the commencement of the inaugural session of the council, the ministersdesignate will take their oaths of office in the Council Chambers of the Presidential Villa.

The president is also expected to announce their portfolios during the inauguration.

The statement said that the swearing-in will begin promptly at 10a.m. and the ministers-designate are expected to be seated in the Council Chambers by 9:30a.m. at the latest.

“Each minister-desig-

nate can only be accompanied to the swearing-in ceremony by a maximum of two guests,” Adesina said.

The inauguration of Buhari’s cabinet is coming over five months after the president was inaugurated on May 29.

Dates of the two inaugurations had already been communicated to those concerned by the Office of the Chief of Staff to the President.

Buhari had said that although the constitution stipulates that all the 36 states should have representatives in the cabinet, the law does not say that he must have 36 ministries.

According to the president, due to the economic situation, the nation cannot have up to 36 ministries, giving an indication that some existing ministries might be scrapped while others merged.

It was, however, not clear the number of ministries the president had settled for. Only a handful of them are, however, expected to be assigned portfolios.

“Also, following the confirmation of their nominations by the Senate, President Buhari will tomorrow (today) at the Presidential Villa, preside

over the swearing-in of Prof. Mahmood Yakubu as Chairman of the Independent National Electoral Commission (INEC) and five others as National Commissioners of INEC,” the statement stated.

The swearing-in of Prof.

Yakubu, Mrs. Amina Zakari, Mr. Solomon Adedeji Soyebi, Prof. Antonia Taiye Okoosi-Simbine, Dr. Muhammed Mustafa Lecky and Alhaji Baba Shettima Arfo is scheduled for 11a.m. in the Council Chambers.

The Office of the Secretary to the Government of the Federation (SGF) had, on Thursday and Friday, organised a presidential retreat for the ministersdesignate during which they were exposed to the focus of the present administration and expectations from them.

The retreat took the m i n i s t e r s - d e s i g n at e through the current economic and security situation of the country.

Other areas touched during the retreat were the relationship between the ministers and their colleagues as well as their permanent secretaries and aides.

The 36 ministers-designate to be inaugurated

on Wednesday are Udoma Udo Udoma (Akwa Ibom), Kayode Fayemi (Ekiti), Audu Ogbeh (Benue), Ogbonnaya Onu (Ebonyi), Osagie Ehanire (Edo), Abdulrahman Dambazau (Kano), Lai Mohammed (Kwara), Amina Mohammed (Gombe), Suleiman Adamu (Jigawa), and Ibrahim Jibril (Nasarawa).

Others are Babatunde Fashola (Lagos), Ibe Kachikwu (Delta), Abubakar Malami (Kebbi), Chris Ngige (Anambra), Aisha Jummai Alhassan (Taraba), Solomon Dalong (Plateau), Kemi Adeosun (Ogun), Hadi Sirika (Katsina), Adebayo Shittu (Oyo), Khadija Bukar Ibrahim (Yobe), Rotimi Amaechi (Rivers), James Ocholi (Kogi), Baba Mustapha (Borno), Claudius Daramola (Ondo), Heineken Lokpobiri (Bayelsa), and Usani Uguru (Cross River).

They also include Munsur Dan Ali (Zamfara), Zainab Ahmed (Kaduna), Geoffrey Onyeama (Enugu), Abubakar Buari (Niger), Isaac Adewole (Osun), Aisha Abubakar (Sokoto), Mohammed Bello (Adamawa), Adamu Adamu (Bauchi), Anthony Anwuka (Imo), and Okechukwu Enelamah (Abia).

4

News

MONDAY, NOVEMBER 9, 2015 NEW TELEGRAPH

Dasuki returns to court as DSS continues siege on residence Our Correspondent

T

he last may not have been heard of the standoff involving the Department of State Services (DSS) and former National Security Adviser (NSA), Col. Sambo Dasuki (rtd).

The embattled Prince of the Sokoto Caliphate returns to a Federal High Court in Abuja today, to enforce his fundamental human rights.

Dasuki’s fresh suit comes against the backdrop of the siege to his Asokoro, Abuja residence by operatives of the DSS, which entered its fourth day yesterday.

When New Telegraph visited the area between 2:30p.m. and 2:37p.m. yesterday, an operational vehicle of the Secret Service, which was occupied by an operative, was parked besides the gate, even as another personnel with two casually dressed young men, were seen seated by the entrance to the expansive compound.

Also, another vehicle was spotted about 100 metres away from the residence.

The former NSA to exPresident Goodluck Jonathan, who confirmed the

continuous siege to his house, in a text message to New Telegraph yesterday, said that he was proceeding to court today to enforce his fundamental rights to freedom of movement, as guaranteed in the 1999 Constitution (as amended).

“It (siege) is on. We are in court tomorrow (today) to enforce my fundamental rights, amongst others,” Dasuki stated.

The Federal Government, through the DSS, is prosecuting the former NSA on charges of alleged illegal possession of firearms and money laundering before a Federal High Court sitting in Abuja.

In the course of the

trial, Dasuki sought the permission of the court to travel abroad for medical treatment, an application, which the trial judge, Justice Adeniyi Ademola, granted last Tuesday.

But the embattled exsecurity adviser has not been able to benefit from the express order of the court as his planned medical trip abroad was said to have been aborted on Wednesday night at the Nnamdi Azikiwe International Airport, Abuja.

It was reported that another attempt to embark on the trip the following day was not successful, as state agents put him under house arrest.

Dasuki was given three

weeks within which to attend to his health abroad.

His bail condition was varied to include a surety, who will write an undertaking to produce him in court on the next adjourned date.

This was as the trial court also held that the surety should be prepared to swap his position as an accused person in the event that Dasuki refuses to return to court for continuation of trial.

The court had disagreed with the prosecution’s argument to the effect that Dasuki’s ailment could be treated at the National Hospital in Abuja.

Justice Ademola held that it was the right of

every citizen of Nigeria, to choose where to seek medical attention.

However, the DSS had issued a statement on Thursday night, wherein it dismissed reports that it was in violation of a valid court order.

It said: “Such report is not only unfounded and malicious, but aimed at tarnishing the good image of the Service.”

The Secret Service attributed Dasuki’s ordeal to his refusal to appear before a Presidential Committee probing the $2 billion arms purchase under his watch.

It said: “The public may wish to note that government set up the Commit-

tee to investigate procurement processes relating to a $2 billion arms transaction by the last administration, under which Sambo was the NSA. “It was on this premise that he was invited by the committee to shed more light on his involvement in the deal. It, therefore, remains surprising and shocking that Sambo has refused to honour invitations of the committee but, instead, resorts to grandstanding and subtle blackmail of the Service.

His refusal to appear before the committee has left the Service with no option than to adopt legal means to ensure his attendance....”

TODAY’S WEATHER FORECAST LAGOS

ABUJA

PORT HARCOURT

KANO

ENUGU

IBADAN

CALABAR

MAIDUGURI

ONITSHA

31o C 24oC Thunder Storms

35oC 23oC Mostly Sunny

L-R: Marketing Director, CBC Global China, Mr. Henry Lizheng; Managing Director, Mr. Yuan Yong; former Governor of Abia State, Dr. Orji Uzor Kalu; Chairman, CBC Global, Mr. Shi Hongbing and Executive Director, Mr. Liao Zhenqi, when the management of the company visited Kalu in Abuja... yesterday.

Nigeria close to oil discovery in Chad Basin – Kachikwu

lNNPC targets $20bn investments in 2016

22o C 18oC Thunder Storms

Adeola Yusuf and Johnchuks Onuanyim

35oC 20oC Partially Cloudy

H

30o C 23oC Thunder Storms

32o C 23oC Thunder Storms

27o C 22oC Thunder Storms

37oC 22oC Mostly Sunny

30o C 23oC Thunder Storms

ope has risen for a major oil discovery in the North, based on analysis of recent data of advanced technology generated from the Chad Basin, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Ibe Kachikwu, has declared.

Kachikwu, according to a statement from the corporation, noted that this indicated that the country may well be on the verge of a significant oil find in the Lake Chad area in the North-East based on analysis of recent seismic 3D data generated from the basin.

The NNPC boss, in a paper entitled: “Ongoing reforms in the oil industry: impact of NNPC reforms on the Nigerian economy,” presented to

the Petroleum Club, Lagos, at the weekend, added that the Corporation was injecting a lot of energy into the effort to ensure success in this regard.

“There are signs from the latest 3D seismic studies that oil may well be very close to being found now in Lake Chad after very many years of trials. I think that this is very key. It is key, both for the geographical balancing of oil production and it is also very key for the purpose of refinery placement in the North in terms of access to crude. I am optimistic that by the end of the year, we should be able to announce something major on this,” the GMD said.

Kachikwu noted that in driving and developing Nigeria’s oil and gas sector, certain key areas of urgent intervention have been identified, thus running production acreages with transparent and

profitable partnerships to bridge capacity and funding gaps; encourage investment inflow into Nigeria’s oil and gas industry; engagement with local communities and driving regulation to develop the sector income – via encouragement of the fast track Petroleum Industry Bill (PIB) to clarify direction and encourage longterm investment in the industry.

Providing specifics on the intervention targets, Kachikwu stated that the NNPC was projecting the inflow of $20 billion in 2016 to enable the Corporation fund major projects and improve its bottomline going forward.

He described 2016 as a crucial year for the NNPC as it is expected to transit from historic loss environment to profit making domain.

In the area of engagement with host communities, Kachikwu stated that

in the years ahead, NNPC as the senior partner in the various Joint Venture (JV) arrangements must take leadership in fostering a healthy and symbiotic host community engagement outlook.

He said this must focus on “what the communities want us to do for them and not what we want to do.”

Commenting on the PIB, the NNPC GMD noted that to achieve quick passage of the bill, it was crucial to isolate the fiscal regime from the current draft and move quickly to work on other pressing aspects of the proposed oil reform legislation.

He reiterated that the Corporation, under his watch, was rigorously executing “20 Fixes” project, which identified 20 critical issues that need to be addressed in order to reposition the 37-year-old national oil corporation on the track of efficiency

and profitability.

The target include: Reduce and audit cost, restructure corporate centre and staffing, renegotiate existing contracts, including PSCs, streamline subsidy management, boost pipeline security, enhance transparency and accountability, achieving zero tolerance for corruption, rebrand NNPC and unbundle PPMC. Other initiatives include: Unbundling of the Nigerian Gas Company (NGC), reduce contracting cycle, restructure refineries, improve information technology to drive business, embed staff and business performance management, restructure JV funding and reduce cash call, improve retail profitability, deploy and attract focused investments, re-kit Nigerian Petroleum Development Company (NPDC), expand crude marketing and generate power profitability.

News

NEW TELEGRAPH MONDAY, november 9, 2015

5

Committee crisis: How Dogara foiled Gbajabiamila’s plot

lSpeaker inaugurates chairmen, deputies today Philip Nyam Abuja

A

s speaker of the House of Representatives, Hon. Yakubu Dogara, inaugurates chairmen and deputies of the 96 standing committees today, facts have emerged why loyalists of House Leader, Femi Gbajabiamila, recanted from their earlier plot to reject committee chairmanship.

Hon. Garba Datti (APC, Kaduna) and Hon. Sunday Adepoju (APC, Oyo) both members of Gbajabiamila’s Loyalists Group, had rejected their appointments as committee chairman and deputy chairman respectively while Dogara

was away on pilgrimage.

While Datti was appointed chairman of solid minerals development committee, Adepoju was made deputy chairman, committee on special duties.

New Telegraph reliably gathered that shortly after the composition of the committees’ leadership, Gbajabiamila met with his group to review the appointments, which they concluded was skewed in favour of Dogara’s loyalists and the opposition Peoples Democratic Party (PDP).

At the meeting, it was agreed that they would resign en masse. Hence Datti, who was former deputy minority whip, was chosen to lead the

pack, while others were to follow.

A member of the group confided in New Telegraph that at that meeting, which was presided by Gbajabiamila, “we all agreed to reject and withdraw from heading any committee.”

“We also agreed that we will all resign and Datti was slated to start and then others would follow,” he disclosed.

The lawmaker said that they were shocked that others who were to drop their committee appointments did not resign after Datti, but chose to stay put.

According to him, before the resumption of plenary last Tuesday, the group had met at the weekend to review the situation. However, some

of the members started developing cold feet and instead challenged Gbajabiamila to resign for them to follow.

His words: “We met again, but surprisingly, two members of the group who were appointed chairman and deputy told the leader (Gbajabiamila) that he should remember he vied for speaker and is leader today. So, it is better to hang on and fight from inside.

“A member from Lagos who is holding a Grade ‘A’ committee and another a deputy chairman from Kaduna actually told Leader that a bird in hand is worth many in the bush.

So they will not resign, although they are still committed to the group.

L-R: Adamawa State Governor, Senator Jibrilla Bindow; Minister-designate, Senator A'isha Al-Hassan and former Vice-President Atiku Abubakar, during Aisha’s visit to Atiku, in Abuja …yesterday.

We’ll resist one-party state – PDP governors CONTINUED FROM PAGE 2

tion, Hon. Fred Agbedi, has vowed that the people of Bayelsa State will resist any attempt by the APC to resort to federal might.

“We don’t want to join issues with people, whether there is what is called federal might or not, what we know is that the people of Bayelsa State are solidly behind the PDP and the governor.

“They want the governor to return and complete the good things he has been doing in the state. So, if there is anything like federal might, it will not work in Bayelsa State, more so that such is a test of democracy and it must not be risked at all; the people are very much ready and prepared to resist such,” he said.

Meanwhile, the APC has said that Saturday’s

judgement of the Taraba State Governorship Election Petition Tribunal “is the clearest indication yet that the PDP has started harvesting what it sowed in its years of impunity and recklessness.”

APC said that the opposition should blame itself for whatever tragedy that has now befallen it.

In a statement in Lagos on Sunday by its National Publicity Secretary, Alhaji Lai Mohammed, the party said that PDP has always been a party of anything goes, hence it is a matter of time for the party to come to grief, first by tumbling from the pinnacle of power and now by losing, incrementally, whatever remains of its crumbled empire.

The party denied allegation by the PDP that the Presidency manipulated the judiciary in favour of

the APC. “President Buhari as well as his party, the APC, are strong believers in the rule of law, as against the rule of impunity, hence will never manipulate the judiciary for whatever reason.

“The PDP is clearly aware of this, but has chosen to blame everyone but itself for the fate that has befallen it. The PDP should have known that it will pay for its years of impunity and recklessness. For this party, the chicken has now come home to roost,” APC said.

The party said that if PDP is not blaming the judiciary, its favourite whipping boy, it is blaming the APC, the Presidency or even Nigerians for its plight, warning it to stop shifting responsibility.

“PDP should leave the

judiciary, the Presidency and the APC alone and accept responsibility for its actions. From the judgement of the tribunal, it is clear that the impunity of the PDP cost it the election. Not only did the party breach Section 78 (b) (1) (2) of the Electoral Act concerning the organisation of party primaries, it was not even deemed to have participated in the April 11, 2015 governorship election in Taraba State in the eyes of the law,” Mohammed said.

The APC also said that the PDP should blame itself for its gross impunity. “Now that the PDP’s chicken has come home to roost, the party must be courageous enough to accept full responsibility and stop seeing enemies everywhere. The PDP is its own enemy,” the party said.

“That was why nobody resigned again until the meeting with speaker on Tuesday.”

Although, the deputy chairman of the media and public affairs committee, Hon. Jonathan Gaza, has disclosed that the meeting was just a familiarisation one, New Telegraph gathered that the speaker used the meeting to blackmail the Loyalists Group members, thereby causing them to drop the idea of resignation completely.

Gaza disclosed that the Speaker will officially inaugurate all the standing committee chairmen, as well as their deputies, at a joint ceremony at the National Assembly today.

The House deputy spokesman flayed members who had rejected their chairmanship appointments on account of status, saying that lawmakers were “all elected as nationalists to come and serve and to move the country forward.

“If you are given a committee and for some reasons you feel that you cannot operate adequately in that capacity and resign, definitely someone that is equally suited will be given. What we are doing here is legislation, not for ourselves, but for the Federal Republic of Nigeria and Nigeria comes first.

“The truth is that governance is like a chain.

Which chain is more important than the other?

Each and every component is an integral part of running government, which must be effectively over-sighted. So, juicy, non-juicy, priority, nonpriority, I believe we must think nationally. We must leave party lines and think nationally, form strong fellowship and move our country forward,” he said.

A committee chairman from one of the NorthCentral states told our correspondent that “almost all chairmen and deputies were at the meeting.

“We were told those supporting Gbajabiamila would not attend, but most of them were at the meeting.

“The speaker was blunt and he told us that there is no way all the honourable members can be chairmen or deputy chairmen, so we should consider ourselves lucky,” the lawmaker said.

The source said that Dogara told the committee leadership that: “There is no committee that is useless and it depends on what we make of the committees. I believe this made many honourable members who had agreed to reject committees to

have a rethink.

“He also said that he was aware that most people did not get committees of their choice, but leadership of committee was a call to service. So, we should accept whatever was given to us.,” According to him, “the speaker even told us that other members were already lobbying to take over should anybody reject any committee.”

On the day Dogara was meeting with the appointed committee chairmen and their deputies, Gbajabiamila released the letter he earlier wrote to the speaker; a day before the full list of committee leadership was announced.

The House leader had in a letter dated October 20 and addressed to the speaker accused Dogara of sidelining him in the appointment of the committee leadership.

The letter reads: “You would recall that I have on several occasions in the last four weeks met with you both at home and your office to get an understanding and appreciation of what was going on with the composition and appointment of chairmen and deputy chairmen of House committees.

“Hon. Speaker, I acknowledge your right and prerogative to determine the leadership of the House committees and I intend to work with you after such determination has been made. I intend and have stated on many occasions privately and publicly to work with you for the progress of the House.

“However, I am constrained at this point to ask that due consideration is given to the provisions of our House Rules Order 7 Rule 10, paragraph (a) of the House rules which states that the speaker “shall in consultation with principal officers, appoint the chairmen and deputy chairmen from among the members on the committee.”

He stated that “on the role of the majority/ House leader: Order 7 Rule 27 (2) c says that the leader of the House shall liaise with committee chairmen and other functionaries of the House.”

Gbajabiamila cautioned against undermining his office. He said: “Hon. Speaker, in the light of the foregoing provisions of our Rules and in line with parliamentary tradition world over, undermining the office of the leader or any other principal officer would not strengthen the legislature or our democracy.”

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MONDAY, november 9, 2015 NEW TELEGRAPH

NEW TELEGRAPH MONDAY, NOVEMBER 9, 2015

Group wants CCT chairman prosecuted Tunde Oyesina Abuja

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group, Registered Trustees of Mission for Peace and Development Initiative have sued the Chairman of the Code of Conduct Tribunal, Danladi Yakubu Umar before the Federal High Court sitting in Abuja.

They are asking it to sack him over alleged money laundering, bribery and other vices.

The group, through its counsel, Chief Mike Ozekhome, SAN, brought the suit under, "Matter of the Interpretation of Rules 1, 5 (1) and (11), Rules 3, F and L, of the Code of Conduct for judicial officers, Part 1, Paragraph 7(b), paragraph 9, 13, Part 11 and Paragraph 12 of the fifth schedule to the Constitution of the Federal Republic of Nigeria, 1999, as altered, Sections 5, 10 (1), 13, 17 and 22(3) of the Code of Conduct Bureau and Tribunal Act and Sections 6(b) and (h) and 7(1) (a) and (b) and (2) of the Economic and Financial Crimes Commission (Establishment), Act, Cap E1 LFN 2004".

Joined alongside Umar are Code of Conduct Tribunal, EFCC and Attorney General of the Federation as 2nd to 4th defendants.

UK aids pro-women project in FCT Caleb Onwe Abuja

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he United Kingdom has partnered with an Abuja based non-governmental organization to demonstrate its sensitiveness and commitment to issues affecting women and the girl-child in Nigeria.

The support came through its agency, Justice for All(J4A)- UK Department for International Development (DFID) by way of funding a two day sensitization workshop in Abuja on “ addressing issue of violence against women in the Federal Capital Territory”, organized by (IDS) intercommunity Development Social Organization.

Disclosing the synergy between the UK agency and the NGO to the press, the Executive Secretary of IDS, Mrs. Gire Doom Eunice, said that women and the girl-child bear the brunt of a lot violence related to sexual harassment and exploitation, psychological and emotional violence.

Sola Adeyemo

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he second-incommand to the Olubadan of Ibadan, High Chief Sulaimon Adegboyega Alao Omiyale, who died in the late evening of Saturday at the University College Hospital, was buried amidst tears in Ibadan yesterday evening.

Aged 91, the Balogun Olubadan of Ibadanland was until his death, the next ranked High Chief to the Olubadan of Ibadan. His remains were conveyed to the Omiyale compound yesterday afternoon amidst tears and wailings by members of his family, who had been

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Olubadan's deputy, Omiyale, 91, dies, buried looking forward to his ascending the throne after the incumbent, Oba Samuel Odulana Odugade.

Omiyale's remains were conveyed to the family compound in a white Nissan Pathfinder ambulance, thus provoking wailings from the family members and well-wishers, who believed they had lost the chance of producing an Olubadan.

He was buried at

the Ope Agbe Palace, Omiyale house, Oja'ba, Ibadan at a brief funeral rites conducted by the Chief Imam of Ibadan, Sheikh AbdulGaniyu Abubakri Agbotomokekere.

One of the descendants of the family who is the Baale Olomi village, Ibadan, Chief Dr Samuel Layode Oyewale, revealed that the late High Chief became

the Mogaji of the compound in 1967, describing his death as a great loss to the family. He nevertheless said that "there is nothing one can do to stop the will of God".

He disclosed that the late Senior member of the Olubadan Advisory council had been sick for a while, noting that they never expected that he would not survive it.

In his sermon, the

Chief Imam said that death was a necessary penalty that any human must get, adding that "only Allah can determine when and how anybody would die".

Among the dignitaries that paid their last respect to the High Chief were a former Governor of Oyo State, Chief Adebayo Alao-Akala; High Chief (Senator) Lekan Balogun, among others.

Director General, Nigerian Employers’ Consultative Association (NECA), Mr. Olusegun Oshinowo (middle) with his team, during their courtesy visit to the management of the Lagos State Internal Revenue Service (LIRS) …at the weekend.

Loneliness leads to poor diet — Study risk of developing poor diet. Similarly, men are more at risk to succumb to consuming fast and convenient meals.

In 2012 to 2013, the Australian Bureau of Statistics found that there are approximately 2.1 million Australians who live alone and may be at risk of poor nutrition.

Although, this study was conducted in Australia, the outcome is very relevant to Nigeria where the number of singles living alone is on

the rise. Similarly, going by high divorce rate, some formerly married couples choose to live alone.

Some of these Nigerians, including some elderly adults are among those at risk of poor nutrition, according to the study.

The research team from the University of Queensland (QUT) looked into 41 separate studies that covered nutrition and eating habits. Dr. Katherine Hanna and Dr. Peter Collins from the QUT found that lack of cook-

ing knowledge and motivation, increasing food cost and lack of partner to go grocery shopping all affect the increased intake of ready-made meals among people who live alone.

"Our results found that people who live alone have a lower diversity of food intake and a lower consumption of some core food groups like fruits and vegetables and fish," said Dr. Katherine Hanna, nutrition and dietetics lecturer at QUT.

Navy hands over six vessels, 15 oil thieves to NSCDC

“On arrival at the jetty, our troops accosted five vessels and a large wooden boat loading products suspected to be stolen diesel. The vessels MV Faith, MV Lum VII, MV Denis, MV Eliora and FP Comfort had no approval from Navy headquarters for the transaction.”

Soyemi explained that the prime suspect had provided useful information during preliminary investigations.

He said that the owners of the vessels had been invited for questioning and had stated their own side of the story.

Appolonia Adeyemi

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ustralian researchers have found out that people who live alone have lesser intake of vegetables and fruits and are more likely to eat fast, convenient and ready-made meals which is majorly lacking in nutrients.

The study, which was published in the Nutrition Reviews journal, found that elderly people and those that were recently divorced were at

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he Nigerian Navy, yesterday, handed over six vessels and 15 suspected oil thieves to the Nigerian Security and Civil Defence Corps (NSCDC) in Port Harcourt for prosecution.

The thieves were arrested for illegal bunkering on Nigerian waters.

According to the Navy, the suspects were caught discretely discharging about 108, 000 litres of diesel from a large wooden boat into five vessels without licence.

Capt. Olusegun Soy-

emi, executive officer, Nigerian Navy Ship (NNS) Pathfinder, who handed over the thieves to NSCDC said that the suspects were arrested last month.

Also, the officer noted that the Navy had handed over a 3,000 metric tonne ship and its 14 member crew who allegedly attempted to steal crude oil from a major pipeline in the state to NSCDC .

“We discovered that the cargo tanks had been emptied and cleaned with hoses connected to the cargo tanks indicating

its readiness to load petroleum products.” he said.

Receiving the suspects and vessels, Mr Steven Morgan, NSCDC Head of anti-Vandal Unit, Rivers command, said that thorough and forensic investigation would be carried out on the suspects and vessels.

Soyemi noted: “On Oct. 20, we got intelligence report about an illegal bunkering activity at a private jetty situated opposite the busy Slaughter market around Trans-Woji area in Port Harcourt.

Ibori dissociates self from Biafran agitation

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ormer Governor of Delta State, Chief James Onanefe Ibori, has dissociated himself from agitations for a Biafra country, warning those misusing his name, personality and picture to desist forthwith because he has no believe in their cause.

In a statement issued by his media assistant, Tony Eluemunor, the former governor noted that all through his life, he has believed in a strong, united Nigeria where the rights of every citizen is held sacrosanct, no matter how infinitesimal.

The statement reads: “Chief James Onanefe Ibori’s attention has been drawn to the way and manner his picture has been misused by some people who are involved in the street demonstrations to drum up support for the establishment of the state of Biafra. His photograph, embossed on banners, have been reportedly held aloft by some of the demonstrators, as they marched through several cities in many states of the Southern half of the country.”

MONDAY, NOVEMBER 9, 2015 NEW TELEGRAPH

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Metro

My life is ruined, cries father of mudslide victims

The late Clinton

Taiwo Jimoh and Camillus Nnaji

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ifty-five-year-old Godwin Odia, father of the four children who died in the mudslide at Orisa in Isheri Magodo area of Lagos State, said he had been thrown into perpetual mourning.

Odia’s four male children DaSilva (24), Sayo (15), Endurance (13) and Clinton (eight) – died on Saturday when torrential rain induced a mudslide in the area.

The man also accused the owner of the fence which collapsed on his house of not showing concern for the lives

ABIODUN BELLO FEATURES Editor

abiodun.bello@newtelegraphonline.com

© Daily Telegraph Publishing Company Limited

The late Da Silva

of his children.

He said: “The owner of the building that killed my four children did not bother to come and sympathise with me over the death of my children.

Government also came after the incident to mark my house for demolition. I don’t have another house where to keep my head and my surviving family members.

“I have accepted my fate, because I never knew I would lose four of my children in a day.”

Some family members, neighbours and residents thronged to the house to sympathise with the bereaved family.

Officials of the Lagos State Building Control Agency (LASBC) stormed the area yesterday to mark every building on the street for demolition for contravening the state urban and regional planning and development rules.

Sources, however, said the agency had initially marked some buildings in the area but did not act until the disaster.

Odion Odia, one of the survivors, said he would have died alongside others if he were inside the room with them.

He said: “I slept in my father’s cousin’s house close

The late Sayo

to our building when the incident happened. It was the sound of the collapsed fence that woke everybody who was asleep. The death of my brothers is still like a dream to me.

Government should bring the owner of the collapsed fence to justice.”

Meanwhile, it was all tears and wailing yesterday as the four victims of the mudslide were buried at a Muslim cemetery in the area.

A large crowd of people, including friends, neighbors and relatives witnessed the burial at 1:45pm. It was supervised by officials of the Lagos State Emergency Management Agency (LASEMA).

Odia, a native of Edo State, was staring into the sky while tears rolled down his cheeks.

The victims’ mother, who reportedly slumped as a result of the tragedy, was said to have been rushed to Tabasco Hospital.

The LASEMA General Manager, Mr Michael Akindele, said the victims needed to be buried immediately to avoid prolonging the pains of the parents.

He said: “We decided to ensure they were buried immediately to avoid prolonging pain and sorrow. Though they are

Christians, the Muslim community in area permitted the burial in their cemetery; they were buried side-by-side.”

A resident of the area said the loud noise made by the slide woke them up.

He said: “The house did not fall on its own. The upper part of another building beside it fell on the house. Unfortunately it fell on the room where those children were sleeping.”

A sympathiser blamed the mudslide on the topography of the area.

He said: “There has been continuous digging in this is community, which is compounded by erosion from Ogun River water outlets. Houses also had been built against the natural flow of water, both on the hill top and the valley.

Natural flow of water has been disrupted so the community is exposed to this situation.”

The Public Relations Officer (PRO), National Emergency Management Agency (NEMA), South-West region, Mr Ibrahim Farinloye, confirmed the incident.

He said: “The cause of the collapse is due to heavy rainfall. A mudslide from cleavage of a hill beside River Ogun hit the three-bedroom flat. Unfortunately it was where the chil-

RRS arrests three for traffic robbery Muritala Ayinla

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fficials of the Rapid Response Squad (RRS) have arrested three men suspected to be members of robbery syndicate terrorising commuters and motorists around Bourdillion at Ikoyi in Lagos.

The suspects are Joseph Edema (24), Jamilu Musa (29) and Gambo Yunusa (30), were arrested on Saturday where they were perfecting plans for the day’s operations.

While confessing to the crime, Musa, who hails from Jigawa State, claimed that although he was not one of the robbers, he knew Edema as a member of the robbery syndicate operating in the area.

He said: “Yunusa and I are innocent. We only sell secondhand goods at under bridge before government sent us away.

In the evenings, we do relax under a tree in the field.

“But every evening, Edema and his gang numbering about 15 usually converge here to meet. Some of them will even come with travellers’ bags and schoolbags but I don’t know the content. We will just be looking at them from a far place.”

Yunusa said they were not among the notorious guys snatching handsets, bags and other valuables from motorists and passers-by in the area.

Speaking on the arrest, the RRS Commander, Assistant Commissioner of Police (ACP), Olatunji Disu, said the suspects were arrested while other gang members managed to escape.

He said: “Following the complaints from members of public of incessant in-traffic robbery attacks around the axis; our men laid an ambush on them which led to the arrest of the suspect, while others manage to escape the dragnet of the police. When the policemen combed the area, different weapons were recovered from their hideouts.”

The suspects

Metro

NEW TELEGRAPH MONDAY, NOVEMBER 9, 2015

Two killed, 150 computers stolen in Ondo school

Air Force officials destroy 20 houses in Benue community

Babatope Okeowo Akure

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wo security personnel attached to Olofin Grammar School, Idanre in Idanre Local Government Area of Ondo State were killed while about 150 computer sets were stolen in the school.

Sources in the town said the incident happened in the early hours of yesterday.

Narrating the incident, the Principal of the school, Mr Adenuoye Akin, said bandits attacked the school and killed two night guards.

The security guards, who were in their fifties, are Akingbade Adewoleoye and Akinjemiyan Babayemi.

The principal said the hoodlums, after killing the two guards, carted away all the newly purchased computer sets.

The school is about 200 metres from a police station but there was no presence of policemen throughout the time the robbers operated.

The remains of the guards have been deposited at the mortuary of the State Hospital, Idanre.

The Commissioners for Information, Kayode Akinmade, Natural Resources, Tunde Atere and Education, Jide Adejuyigbe, visited the school for an on-the-spot assessment.

Akinmade, who is an indigene of the town, said the state executive council would meet today to take position on security measures to protect schools in the state.

He said the hoodlums would not go unpunished.

When contacted on the telephone, the state Police Public Relations Officer (PPRO), Femi Joseph, confirmed the robbery and said the command had begun investigation.

He said: “We can confirm that there was a robbery incident in the school and we have started the investigation.” We will certainly arrest the hoodlums.”

One of the affected buildings

Cephas Iorhemen MAKURDI

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fficials of the Tactical Air Command of the Nigeria Air Force (NAF) in Makurdi, Benue State at the weekend invaded the Ugondo Mega Layout Phase Two and destroyed more than 20 houses.

Owners of the houses located on the outskirts of Makurdi said the state government legitimately allocated to the structures to them.

The about 200 NAF officials, who were led by the Air Officer Commander (AOC), Air Vice Marshall R. A. Ojuawo, came in three trucks and started destroying houses already occupied and those under construction.

They also harassed and beat up the residents claiming that the said land belongs to them.

This is the second time in seven months that officials of the command were carrying out such exercise. The first was in May when they demolished many houses at Akpen village, on the outskirts of Makurdi, located at kilometre 6 on MakurdiGboko Road.

That demolition was greeted by protest by youths of Apen, as most of the affected homes belonged to the poor. In that exercise, over 10,000 people were rendered homeless.

In the latest destruction, at least 20 houses were torched by the NAF officials. When our correspondent visited the area, landlords were holding meetings on the next line of action to take to forestall a repeat of the incident.

They told our correspondent that the NAF

commandant ordered his men to beat up the landlords, including women most of who were later taken to the hospital for treatment.

The landlords added that the NAF officials also carted away property worth millions of naira, including working tools belonging to labourers working on the site.

According to them, the NAF officials also destroyed bags of cement including those mixed with sand for plastering, septic tanks and electrical fittings, manhandled a lecturer of the Benue State University and forcibly snatched N3,500 from a widow, one Mrs Dorcas Kambe.

The landlords, who spoke on condition of anonymity for security reasons, insisted that the land was allocated to them with papers accompanying them by the state government.

They expressed surprise that NAF officials were trying to confiscate the land from them.

One of the victims, a lecturer at the state-owned university, Pila Nasera, said the commandant ordered him to lie face down and kiss the ground before he was given the beaten of his life.

Mrs Gladys Gaadi, who said her electrical fittings and other belongings were vandalised, added that she was given a week ultimatum to leave her house or would lose all her things when they come for proper demolition.

Ogun, RCCG on collision course over church demolition

The demolished church

Kunle Olayeni Abeokuta

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gun State government and the Redeemed Christian Church of God (RCCG) may be on collision course following the alleged demolition of a multi-million naira branch of the church by agents of the state government.

The church, which was still under construction, is located within the Olusegun Obasanjo Hilltop on the Presidential Boulevard, Abeokuta, the state capital.

It is headed by a former Deputy Speaker of the state House of Assembly, Remmy Hazzan, who is believed to be an ardent critic of Governor Ibikunle Amosun’s administration.

It was learnt that the church building was pulled down on Friday over alleged violation of estate design plan and lack of approval.

While gover nment sources insisted that failure to secure title documents led to the demolition, church members claimed the decision smacked political vendetta.

It was gathered that the project, whose construction started in 2013, had reached roofing level when the government officials mobilised bulldozers to the site.

Sources said some church members were present when the building was demolished.

The state Commissioner for Physical Planning and Urban Development, Adebola Adeife, did not respond to enquiries on the matter. The commissioner did not respond to phone calls or text message sent

to his mobile line.

But the governor’s Senior Special Assistant (SSA) on Media, Adejuwon Soyinka, said the church building had no title documents or building approval.

Soyinka also denied allegations that the demolition was politically-motivated.

He said: “I am told that the church has no title documents or approval.

The estate is strictly residential and the building has defeated the approved design plan.

“And let me quickly add this: nothing political about the action.”

Efforts to get the reaction of the leadership of the church failed yesterday but a senior official of RCCG told our correspondent that the General Overseer, Pastor Enoch Adeboye, has urged members to restrain themselves on the matter, at least for the meantime.

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City Briefs

Group condemns Edo robbery Cajetan Mmuta BENIN

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United States of America-based organisation, Igarra Progressive Union (IPU), yesterday condemned the recent robbery attack in Igarra, headquarters of Akoko-Edo Local Government Area of Edo State.

About six persons, among them two policemen, lost their lives during the robbery attack on two commercial banks while three of the bandits were arrested by police with the assistance of vigilantes in the area.

Besides, the lawmaker representing Akoko-Edo Constituency II, Emma Agbaje, has condemned the incident.

The legislator, in a statement issued by his Personal Assistant, Eyonivi Asaham, yesterday condoled with the families of the dead and the injured even as he commended security agencies for their quick and timely response.

He said: “No degree of joblessness is worth taking the life of anybody.”

But the group, in a statement by its President, Anthony Akpeji, and Public Relations Officer (PRO), Oseh Godwin, called on the government and police to strengthen vigilance groups in the area to enable them to continue to complement efforts of security agencies.

PTA slashes FSTC levies Mojeed Alabi

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he Parent-Teacher Association (PTA) of the Federal Science and Technical College (FSTC), Yaba, said the association slashed its levies by 50 per cent to ease the stress many parents were going through.

The PTA chairperson, Mrs Oby Igwillo, who disclosed this recently, said the gesture was also in appreciation of the roles of teachers and parents of the institution.

Igwillo noted that as an intervention body and critical stakeholder of the institution, it was only befitting that the teaching and non-teaching staff of the school were honoured in recognition of the role they play in shaping the lives of the children.

She said: “We appreciate these teachers annually as a way of showing appreciation to what they are doing to these children, in character and in learning.

“We believe in the welfare and motivation and therefore feel that our teachers should be given the best.

“Cutting this PTA levies by 50 cent is part of efforts to motivate these teachers because some of them have biological children here.”

Igwillo promised that the 1,000-bed-space female hostel project currently under construction would be inaugurated before the year runs out.

She noted that the project was part of the association’s effort at cushioning the acute accommodation challenge being faced in the institution.

Also speaking, the Principal of the college, Rev Chris Ugorji, noted that teachers at all levels of education must be respected.

According to him, teaching leaves the beneficiaries with a gradual process of acquiring knowledge which consequently produces skilful professionals in all spheres of human endeavour.

He said: “Imagine a country without a teacher. The upbringing and social behaviour of the children would have been disastrous and in addition, the growth of the nation would also be retarded.

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News

MONDAY, NOVEMBER 9, 2015 NEW TELEGRAPH

NATIONAL

FG approves Lagos’ $2.4bn Red Line rail project Muritala Ayinla

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he Federal Government has finally approved the construction of the $2.4 billion Lagos Red Line Rail Project after eight years of negotiation.

That was as the the Lagos State Government said that it has registered 42,982 drivers and 1,162 bus conductors across the state even as it insisted that violators of the traffic laws won’t go unpunished.

The government, which said it took Lagos four and half years to get approval for the project and another four years for discussion on the technicality of the project, also declared that the era of impunity on Lagos roads was over.

Briefing journalists on the policies of the state government regarding enforcement of the Lagos Traffic Law, 2012, the Light Rail Project, Blue and Red Line transportation system, the Commis-

sioner for Transportation, Dr Ekundayo Mobereola, who made the disclosure, said efforts were ongoing to review some of the policies of the last administration and ensure full enforcement of the existing laws.

Mobereola assured Lagosians that he would bring his wealth of experience to bear by ensuring that transportation in Lagos was more attractive.

He explained that the right of way for the red

line project falls on the Federal Government Right of Way of the Nigerian Railway corporation, saying that contributed to the delay in the commencement of the project due to the prolonged discussion. He therefore promised that the project will soon kick off as discussion with preferred the bidder had been concluded.

According to him: “It took us four and half years to get approval for

the project. It took us another four years to get them to discuss the technicality of the project with us. The right of way has been approved and we are in full discussion with the bidders.”

He added that the state has not dropped the idea of uniforms for bus conductors and drivers, saying some mechanisms were being worked on to ensure understanding of the concern stake holders.

He said:” I will like

situation whereby the bus drivers and conductor wear a uniform but even they don’t, where they don’t wear a uniform, at least, let them have badges that will show their names. And they will have a security number to show that this person is actually licenced to drive commuters. To show that someone is licenced to be a conductor, so that if there is any problem or issue, his signature, picture there, we can go after such person.”

CAN decries ban on school prayers, grazing reserves Yekeen Nurudeen Abuja

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L-R: Director, Project Gaia International, USA, Mr. Harry Stokes; Managing Director, Project Gaia Prospects Limited, Mr. Joe Obueh; Managing Director, Shell Nigeria Exploration and Production Company, Mr. Bayo Ojulari; General Manager, External Relations, Shell, Mr. Igo Weli and General Manager, Production, Shell Nigeria, Mr. David Martin, at the signing of a partnership agreement for a pilot study on the use of (M) Ethanol clean cook stoves, at the SNEPCo office in Lagos… at the weekend.

Court orders Sunny Odogwu SNEPCo promotes (M)Ethanol to pay bank N26.2bn clean cook stoves Akeem Nafiu

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ustice Saliu Saidu of a Federal High Court in Lagos has ordered businessman, Chief Sunny Odogwu, and his two companies; Robert Dyson & Diet Limited and SIO Properties Limited to pay the sum of N26.2 billion to Diamond Bank Plc for failing to repay a loan obtained from the bank eight years ago.

The judge also granted leave to the Bank to foreclose and sell ‘Luxury Collection Hotels and Apartments’, formerly Le Meridian Grand Tower, located at 31-35, Ikoyi Crescent, Ikoyi, Lagos, belonging to Odogwu.

Justice Saidu, who had earlier ordered 19 commercial banks in Nigeria not to allow Odogwu and his companies, to withdraw funds from their accounts, in his judgement held that the defendants admitted indebtedness and has not shown to the court how the indebtedness was liquidated.

The court, therefore, perpetually restrained the third defendant from dis-

posing, selling or alienating any of his personal assets, money, share, stock and other negotiable instrument until the judgment sum is fully liquidated.

The court also ordered the CAC and the Registrar of Title, Federal Land Registry to decline or expunge and delete the registration of any security interest, charge, caveat and any other instrument creating a change or an interest in favour of any other person or persons other than the plaintiff in relation to the said property and in relation to any registrable assets of the first defendant with the fourth defendant any assets already charged under the extant Trust Deed.

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hell Nigeria Exploration and Production Company (SNEPCo) has signed an agreement with Project Gaia Prospects Limited (PGPL) for the conduct of a pilot study on the use of Ethanol clean cook stoves, a cleaner and safer way of cooking. SNEPCo will provide 2,500 clean cook stoves and 15,000 canisters for distribution to households in Lagos while PGPL will ensure the supply of Ethanol fuel blended with methanol during the one-year study.

The (M)Ethanol clean cook stoves project aims to reduce mortality associated with indoor air pollution by providing cleaner and healthier cooking alternative to kerosene, firewood and charcoal.

The Global Alliance for Clean Cookstoves (GACC) estimates that household air pollution contributes to 70,000 premature deaths every year and affects 127 million people in Nigeria.

“We’re pleased to promote a safer cooking system in Nigeria as part of efforts to encourage access to a better source of energy,” said Bayo Ojulari, SNEPCo Managing Director, at the signing ceremony on November 5.

“There is a compelling case for action on a better and leaner cooking method.

I’ll be taking a personal interest to ensure the agreement we’ve just signed delivers on all promises and opens the door to safer cooking in Nigerian households.”

he Christian Association of Nigeria (CAN) has moved against plans by some state governments in the country to stop prayers and assembly devotion in primary and secondary schools.

It urged them to have a rethink because such thoughts were “evil and must not prevail.”

This, the Christians’ body argued, would take the nation back to the years of moral decadence, noting that the reasons being advanced for the planned ban were untenable.

The association, however, commended Cross River

Epileptic power: Abuja residents petition Presidency, Reps Philip Nyam Abuja

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esidents of Shebwokpma and Karu Extension layout Communities, a suburb in the Federal Capital Territory (FCT) have petitioned President Muhammadu Buhari and the leadership of the National Assembly over incessant power outage and alleged extortion by officials of the Abuja Electricity Distribution Company (AEDC).

The petition jointly signed by the community leaders, Chief Sunday Eze, John Onoja, Isah Suleiman and Israel Gokper, alleged

Investors worried as smugglers flood markets with rice

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here are indication that some smugglers are having a field day bringing in rice from the neighbouring countries of Niger, Benin and Cameroun into Nigeria markets.

It was learnt that the commodity is being shipped into the country in big trucks, laden with between 1,200 and 1,500

bags of 50kilogramme rice from Cotonou into Lagos and other Southwest states, including Ogun, Osun, Oyo, Kwara, Ondo and Ekiti.

Other states affected by the influx include Sokoto, Katsina, Kaduna, Kano, Abuja, Niger, Cross River and Plateau.

Furthermore, rice from Cameroun is said to be coming into Adamawa, Borno,

Yobe, Taraba, Benue and Enugu. Affected states from the South-East and Southsouth are Cross River, AkwaIbom, Abia and Enugu states.

A source, who did not want his name in print, told New Telegraph that the smuggled commodity may affect multinationals firms such Olam, Stallion Group and Dangote that invested huge money on rice to meet

State Governor, Professor Ben Ayade, for reversing what it described “a wrong directive of an ambitious Permanent Secretary on this matter” and advised other state governments “involved in this ungodly directive” to take a cue.

According to CAN, implementing the suggestion for the establishment of grazing reserves for Fulani herdsmen in all parts of the country portends “very grave danger to our national peace and security.”

The position of CAN is contained in a communique signed by its General Secretary, Rev. (Dr) Musa Asake, issued to journalists yesterday at the end of its National Executive Council (NEC) meeting held in Abuja.

a growing annual demand of 6.5 million tons per annum.

The source stressed that Stallion Group had expanded its capacities to produce 1.5 million tons in Nigeria, while Dangote had announced plans to cultivate 100,000 hectares for rice production.

According to the source, smuggling of rice would dis-

that while the communities enjoy electricity for only 14 days a month, they are being billed for 30 days.

The communities called on President Mohammadu Buhari, Senate President Bukola Saraki and Speaker Yakubu Dogara to urgently look into their predicament and order the Power Holding Company of Nigeria (PHCN) to immediately restore full electricity supply to the area.

The leaders said the people were enraged by the incessant disconnection of the communities from the 33 KVA line, which, he said, is the only source of power available to the entire area. courage millions of farmers to embark on rice farming.

The National Rice Millers Association of Nigeria (NRMAN), has already blamed the lifting of the ban on importation of rice through the land borders.

The Chairman of the association, Mohammed Abubakar, noted the decision would destroy Nigeria’s rice value chain attained by the previous administration.

NEW TELEGRAPH MONDAY, November 9, 2015

Governance

The coming of Buhari’s change agents

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Election tribunal

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Case closed for six governors

13

Politics The post-governorship election legal fireworks have produced several outcomes to political parties and their candidates.

From the 29 states where the 2015 gubernatorial elections held, tribunals have upturned the Rivers and Taraba elections and ordered a rerun in 18 local governments of Akwa Ibom.

While some already have a clean bill of health, others still have scores to settle in higher courts. WALE ELEGBEDE reports

Echoes from tribunals state capital, without any evidence that Jalingo was not suitable for the primary election, was a violation of the provision of Section 87(4)(b)(i) of the Electoral Act. Ishaku has instructed his counsels to proceed to the appellate court for another round of legal battles.

Wike

Six PDP candidates concede defeat Of the 29 states where governorship elections were held on April 11, only six states did not experience litigation over the outcome of the polls.

In Niger State, the Peoples Democratic Party (PDP) governorship candidate, Umar Nasko, conceded defeat to Abubakar Sani Bello of the All Progressives Congress (APC).

In Kano, Salihu Sagir Takai of the PDP accepted his fate. He didn’t challenge the election of Dr. Umar Abdullahi Ganduje of the APC. Ganduje polled 1,546,434 votes against Takai who scored 509,726 votes.

In Adamawa, Jibrilla Bindow’s election was not challenged by his opponents – Engr. Markus Gundiri of the Social Democratic Party (SDP); Nuhu Ribadu (PDP) and Dr. Ahmed Modibbo of the Peoples Democratic Movement (PDM).

Also in Jigawa, Bauchi and Katsina, the opposition did not challenge the outcome of the governorship elections.

Taraba: Alhassan on the threshold of history For many reasons, last Saturday’s

AYODELE OJO

DEPUTY Editor, POLITICS ayodele.ojo@newtelegraphonline.com

© Daily Telegraph Publishing Company Limited

Al-Hassan

Emmanuel

Umahi

ruling of the Governorship Election Petition Tribunal for Taraba State has reinvented the political landscape of not only Taraba but that of the country as a whole. The April 11 election moved from the general to supplementary election.

In its judgement, the tribunal led by Justice Musa Danladi Abubakar ordered the Independent National Electoral Commission (INEC) to immediately withdraw the certificate of return issued to Governor Darius Dickson Ishaku of the PDP after the April 11 poll and issue a new one to the candidate of the APC in the election, Senator Aisha Jumai Al-Hassan. Al-Hassan is a ministerdesignate.

According to the tribunal, which had

its sittings in Abuja, Ishaku was not qualified to contest the governorship election because the primary election held by his party (PDP) fell short of the conditions stipulated by Sections 85 and 87 of the Electoral Act (2A) 20.

The panel added that the PDP did not INEC the mandatory 21-day notice before its primary election as required under Section 85(1) of the Electoral Act, a development which prevented INEC from witnessing the primary election.

It also held that although the PDP and Ishaku claimed that they held the party’s governorship primaries in Abuja, the decision of the PDP to conduct the Taraba State governorship primary outside the

Wike appeals tribunal’s judgement The Rivers State gubernatorial tussle between Governor Nyesom Wike of the PDP and Dakuku Peterside of the APC was partially determined on October 24 as the Governorship Election Petition Tribunal sitting in Abuja nullified the April 11 governorship election which produced Wike.

The tribunal in its judgement ordered INEC to conduct a fresh election within 90 days.

In its judgement, the tribunal headed

by Justice Suleiman Ambursa, held that the said election made mockery of democracy.

The tribunal also held that the allegation of intimidation, harassment, snatching of ballot boxes, ballot papers, lack of result sheet, late arrival of election materials, diversion of election materials, ballot stuffing, allocation of figures, non-collation of result, failure to use card readers were all established by the petitioners.

Wike had, however, filed an appeal at the Court of Appeal, Abuja Division, asking the court to set aside the judgement of the tribunal which nullified his election.

A date is yet to be fixed for the appeal.

A’Ibom: Emmanuel, Umana fight on Like Rivers, the Akwa Ibom State Governorship Election Petition Tribunal had also on October 21, nullified the results of 18 local governments of the state and validated the results from 13.

The tribunal hinged its decision on ground that election in the affected local government areas were marred by violence and other infractions.

The petitioner, Umana Okon Umana, and his party, the APC, had approached the tribunal to challenge the election of Governor Udom Emmanuel on grounds of irregularities.

The tribunal ordered INEC to conduct fresh elections within 90 days.

The tribunal was, however, silent on the prayer of the petitioner, Umana, seeking the invalidation of the election of Governor Emmanuel.

However, the governor and his party, the PDP, had in separate appeals asked the Court of Appeal, Abuja Division to set aside the judgement of the state election petition tribunal.

The appellants are asking the appellate court to set aside part of the tribunal’s decision which nullified elections in Etim Ekpo, CONTINUED ON PAGE 14

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MONDAY, November 9, 2015 NEW TELEGRAPH

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efore a skyscraper rises out of the ground and becomes a towering edifice, the foundation must go deep into the ground, sometimes as low as 150ft. Month after month, the labourers continue to dig and build, their diligent work taking place completely out of sight. In the same period it takes to complete the foundation of a skyscraper, several duplexes may spring up nearby. Concerned onlookers may wonder about all the time invested in an unseen structure and ask, “But why can’t we see the building you say you are building?”

During the past few months since he took on the mantle of CHANGE, President Muhammadu Buhari has been restructuring the foundations of the Nigerian government, which have disintegrated and putrefied over decades of mismanagement.

He has been busy cleaning out debris and plugging loopholes, before laying new and fresh blocks. When he spoke to them at the three-day retreat welcoming them to the cabinet, the president told the ministers-designate that “we have already taken deliberate measures to plug leakages of government revenue and resources.”

The Treasury Single Account (TSA) is one example.

Under this new system, all government revenue, income and payments are being handled via one single account which will be maintained by the Central Bank of Nigeria (CBN). This way, the government will have direct supervision of inflow and outflow.

Cases such as that of Nigerian Maritime and Security Agency (NIMASA), which is currently under investigation by the Economic and Financial Crimes Commission (EFFC) where billions of dollars were channelled for questionable purposes will be a thing of the past. Nigerians can expect more transparency and less misappropriation of funds by agencies of government. Government will begin to realise her revenue in full measure and agencies will be able to spend only within their budgets.

Still on the issue of government revenue, the prospect of the Nigerian government generating more money through the Nigerian Customs Service (NCS) is set to increase with the change of management that was effected recently by the Buhari administration. With accountability and integrity at the top, Nigerians can expect that revenue from that agency will double or triple.

The Ministry of Finance just got the customs to repair broken down scanners at the ports to ensure maximum generation of revenue. Officers had left the scanners unrepaired, and in some known cases deliberately sabotaged them so that assessment is done manually to satisfy greed on their part.

The Federal Inland Revenue Service (FIRS) has also begun to implement a programme of increased awareness among Nigerians regarding the payment of taxes. This is being followed by a strict programme of persuasion and enforcement. Within a short while, the Nigerian government will begin to realise a marked increase in revenue from Value

L-R: Ministers-designate: Amina Mohammed, Mr. James Ocholi, Mr. Adebayo Shittu, Dr. Ibe Kachikwu and Kayode Fayemi, during a presidential retreat in Abuja…last week.

PHOTO: TIMOTHY IKUOMENISAN

The coming of Buhari’s change agents

Senior Special Assistant to the President on Media and Publicity, GARBA SHEHU, writes that President Muhammadu Buhari has laid the foundation on which new ministers are to build on as the Federal Executive Council (FEC) is inaugurated on Wednesday Added Tax (VAT).

All these foundation blocks have been laid to ensure that the Nigerian government has enough revenue with which to make life better for every Nigerian, especially as the price of oil continues to look precarious.

These measures, taken together represent a major push by the president to increase InternallyGenerated Revenue (IGR), reduce over-dependence on crude oil earnings in a way that will bring stability and predictability in the financing of government programmes.

The situation of the economy is not an ordinary one. It is a crisis; a crisis itself inherited by the Buhari administration, and one that cannot be ignored.

Two weeks ago, the International Monetary Fund (IMF) predicted that the Gross Domestic Product (GDP) growth in sub-Saharan Africa would fall to 3.75 per cent in 2015 which is the lowest in the last six years.

Nigeria along with Angola, the leading oil economies on the continent, have been hit hard by oil prices, which have gone down by more than 50 per cent in the last 12 months.

It is on account of this that the president warned the ministersdesignate of what to expect: “The work of restoration and renewal is urgent and immense. The

The work of restoration and renewal is urgent and immense. The expectations of Nigerians are high

expectations of Nigerians are high. Our determination to succeed and change the fortunes of our country must be equal to the challenge.

“I have invited you to join me in this urgent mission for our country. I am convinced that in accepting this invitation you are also equally determined to take part in this patriotic undertaking.”

So finally, the underground work is coming to an end. With the inauguration of ministers taking place on Wednesday, it is now time for Nigerians to watch the edifice of CHANGE begin to rise out of a new and strong foundation. Our country’s season of austerity is coming to an end. Life will get better for every Nigerian, in every geo-political zone of our country.

As President Buhari said in the opening address during the retreat that took place last week, “You are coming on board the ship of governance at an interesting time. So much has been said about the state of our economy. It is expected that we make the running of government at all levels as lean as possible, avoid waste and conserve resources.

As ministers, you must be the vehicle that will administer the change.”

Buhari, who shrugged off “experts” and their “scientific”

predictions to receive a historic mandate – the first time that an opposition candidate defeated an incumbent administration since independence has been speaking of the huge popular expectation of Nigerians who gave this mandate. They are waiting, impatient and agitated.

The new ministers will do well to pay heed to the president’s call for prudence, austerity through the avoidance of the type of extravagance that had weighed down the finances of government in the past. Under the past administration, some ministers had as many as 15 special assistants and so many policemen in tow.

Let the new ministers learn from the president who gave a recent directive that he didn’t want to have more than eight vehicles in his convoy.

Nigerians should get set to see and experience more of the CHANGE for which they voted overwhelmingly for the Buhari administration if the cabinet avoids micromanaging specifics and kowtowing to godfather interests to join the president in putting policies in place to make the country a favoured destination for investors both global and local.

There is little doubt that there is light at the end of the tunnel although it will take much hard work to make it a new dawn.

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NEW TELEGRAPH MONDAY, November 9, 2015

13

Case closed for six governors

“Consequently, the appeal herein is struck out for incompetence. The judgement of the lower court which upheld that of the trial tribunal and striking out the petitions is also affirmed by me,” Ogunbiyi ruled.

Ambode

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After aggrieved opponents explored all legal options at the tribunals, Court of Appeal and Supreme Court, the elections of six governors have been validated

candidate, Emeka Ihedioha, challenging the election of Okorocha.

The full panel of the court presided over by Justice John Fabiyi, held that Ihedioha’s appeal lacked merit.

The apex court affirmed the judgement of the Court of Appeal in Owerri to the effect that Ihedioha’s failure to properly serve Okorocha and his party, the APC, had robbed the Appeal Court jurisdiction to hear the case.

The Supreme Court further held that failure to indicate the addresses of other respondents on the processes of the appeal was fatal to the case.

Ihedioha, who is the immediate past Deputy Speaker of the House of Representatives, had appealed against the ruling of the Imo State Governorship Election Petition Tribunal which in its ruling delivered on July 22, dismissed his petition on the grounds that it was incompetent.

He appealed to the Court of Appeal which also on September 3, dismissed the appeal against the ruling of the tribunal.

Not satisfied, he approached the Supreme Court.

However, with the judgement of the apex court, the issue has been finally laid to rest.

date was declared winner of the epic battle for Lagos, the serene and tidy atmosphere in the state on the day of the election, made many to posit that there is nothing to contest at the tribunal.

Ambode was declared winner of the April 11 gubernatorial election after polling 811,994 votes to Agbaje’s 659,788 votes.

After weeks of legal crossfire, the three-man tribunal panel headed by Justice Muhammad Surajo, dismissed Agbaje’s petition for incompetence. The tribunal noted that the petitioner, Agbaje, did not ask for a fresh election despite asking the court to nullify the election.

Not satisfied with the tribunal’s verdict, the PDP and Agbaje headed to the appellate court for a redress. After hearing the PDP’s appeal, the Lagos Division of the Court of Appeal, on August 26, aligned with the July 1, decision of the Justice Sujaro-led tribunal and struck out the petition.

Determined to exhaust all legal means at his disposal, Agbaje headed to the Supreme Court to test the validity of the two judgements against him. In a unanimous judgement, a seven-man panel of the apex court led by Justice Tanko Muhammad struck out Agbaje’s appeal for not being competent.

In the lead judgment read by Justice Clara Ogunbiyi, the Supreme Court held that Agbaje’s appeal had been rendered incompetent and academic by virtue of the fact that the PDP refused to join Agbaje to appeal against the decision of the Court of Appeal, which had earlier upheld the judgement of the tribunal.

With only Agbaje appealing the judgement of the appellate court, Justice Ogunbiyi held that a political party was important “over and above a candidate in an election in our constitutional democracy.”

Tribunal strikes out petition against Tambuwal Governor Aminu Tambuwal did not face much challenge over his election in Sokoto State on April 11. The only petition in the Sokoto governorship election was by the Mega Progressives Peoples Party (MPPP) against INEC, APC, Tambuwal and his deputy, Ahmed Aliyu.

But the chairman of the tribunal, Justice Anselem Nwaigwe, struck out the petition for lack of evidence.

The former Speaker of the House of Representatives secured 647,609 votes to emerge victorious in the election while the PDP candidate, Senator Abdallah Wali, polled 269,074 votes.

Okorocha triumphs On October 28, the Supreme Court finally resolved the litigation on the April 11 governorship election in Imo State.

The apex court upheld the election of Governor Rochas Okorocha.

The court at the same time dismissed the appeal by the PDP’s governorship

S’Court seals Agbaje’s fate, Ambode victorious For many political analysts, the decision of the governorship candidate of the PDP in Lagos State, Mr. Jimi Agbaje, to challenge the victory of his opponent, now governor, Mr. Akinwunmi Ambode of the APC, at the court, was an unpopular move.

Aside the fact that Agbaje was one of the early callers who congratulated Ambode immediately the APC candi-

Case closed on the Plateau The tussle for the governorship seat at the election tribunal between the PDP and APC in Plateau State was decided on October 26, as the Justice Johnson Candida-led panel dismissed the petition filed by the PDP gubernatorial candidate, Senator Gyang Pwajok, for lack of merit.

Pwajok, who died three days after the tribunal’s ruling in an Indian hospital following complications from cancer, had dragged the APC and Governor Simon Lalong before the tribunal, arguing that the April 11 governorship election was marred by irregularities and non-compliance with the Electoral Act, with specific mention of seven local government areas of Jos-North, Wase, Mangu, Shendam, Pankshin, Jos East and Kanam involving 278 polling units in 89 electoral wards.

In its ruling, Justice Candida held that all the petitions presented by the petitioners were based on documentary hearsay.

With the demise of the PDP candidate, the ruling of the tribunal will not be appealed by his party.

APC withdraws suit against Ugwuanyi It was a big relief for Governor Ifeanyi Ugwuanyi of Enugu State when the Court of Appeal in Enugu dismissed the appeal of the APC governorship candidate, Mr. Okey Ezea, thereby affirming the ruling of the state governorship tribunal.

The APC candidate had approached the appellate court to test the veracity of the judgement of the tribunal which upheld Ugwuanyi’s election.

After months of legal tango, the Justice Hildad Kwajafa-led tribunal dismissed Ezea’s petition for lack of merit and competence.

Ezea then took his case to the appellate court.

Interestingly, after heading to the Appeal Court, his counsel sought for the withdrawal of the appeal, stating that his client was no longer interested in pursuing the matter.

The counsel to the respondent, Mr. Paul Onyia, also told the court that the notice for withdrawal was served on them two days earlier.

He said that his client had already prepared to argue the matter on appeal before he was served.

Justice J. H. Sanki dismissed the appeal with N100,000 as cost in favour of Ugwuwanyi, though his counsel demanded a cost of N1 million for the withdrawal.

No contest against Ayade For Governor Ben Ayade of Cross River, it was a mere walkover at the tribunal as his opponents either backed out or had their cases dismissed. The APC was the first to withdraw its petition from the tribunal.

The tribunal sitting in Calabar and presided over by Justice Aliyu Mohammed Mayaki, dismissed the petition brought before it against Ayade by the candidate of the Labour Party (LP), Ntufam Fidelis Ugbo.

The LP standard bearer had in a petition alleged that the election was marred by gross irregularities.

However, prior to the ruling, Ugbo withdrew the petition and Justice Mayaki dismissed the petition.

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After legal fireworks, governors C O N T I N U E D F R O M PA G E 1 1

Uyo, Ikono, Ibesikpo, Onna, Ikot Abasi, Oruk Anam, Uruan, Ibeno, Ibiono Ibom, Nsit Ubium, Ini, Oron, Nsit Atai, Etinan, Udung Uko and Eket Local Government Areas of Akwa Ibom State.

They also asked the court to uphold the results of the governorship election conducted on April 11, in the local government areas listed above.

The governor in his appeal submitted that the petitioners did not plead the facts of voters’ disenfranchisement in the 18 councils.

Also, the APC and Umana had also filed an appeal at the Court of Appeal, Abuja Division, challenging the judgement of the tribunal on the poll.

In their notice of appeal, the APC and Umana asked the appellate court to set aside the judgement of the tribunal in relation to the validation of election results in 13 local government areas of the state.

They also asked the appeal court to nullify the entire governorship election conducted in the state on April 11 due to non-compliance with the Electoral Act 2010 and guidelines of INEC. The appellants specifically asked that the first respondent in the appeal case, Governor Emmanuel, be removed from office and that a fresh governorship election be conducted throughout the state.

No date has been fixed for the hearing.

Dakwambo loses, court orders retrial of petition The Supreme Court on October 26 ordered the Gombe State Governorship Election Petition Tribunal to retry the petition against Governor Ibrahim Dakwambo of the PDP. The tribunal led by Justice Mohammad Sirajo, had earlier dismissed the petition filed by the African Democratic Congress (ADC), challenging the victory of Dankwambo in the April gubernatorial election.

The petition was dismissed by the tribunal over question of competency of the petitioner’s counsel, Sam Kagbo, as a legal practitioner.

The petitioner’s counsel had signed the petition as Sam Kagbo, whereas on the roll of lawyers, his name is Sam Peter Kagbo.

The respondent raised objection to that effect and prayed the tribunal to dismiss the petition.

The tribunal, however, agreed with the respondent’s counsel and consequently dismissed the petition.

Not satisfied with the ruling, ADC approached the Court of Appeal challenging the decision. The Court of Appeal in its judgement ordered the tribunal to retry the petition.

Not satisfied, Dakwambo approached the apex court, seeking to set aside the decision of the Court of Appeal.

Delivering judgement, a full panel of the apex court, unanimously dismissed the appeal on ground that the tribunal had only emphasised on technicalities in arriving at its decision.

Reading the lead judgement, Justice Kudirat Kekere-Ekun held that the tribunal was wrong to have dismissed the petition on ground of technicalities.

The court returned the petition to the tribunal to be tried on its merit.

Fresh hurdle for Amosun Since April 30 when the PDP candidate in the April 11 governorship election in Ogun State, Prince Gboyega Isiaka filed a petition to contest the victory of Governor Ibikunle Amosun of the APC, the political atmosphere of the

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state has been enveloped with anxiety, up until October 23, when the tribunal ruled in favour of Amosun.

INEC had declared Amosun winner of the governorship election having polled 306,988 votes while Isiaka scored 201,440 votes.

In his petition marked EPT/GOV/ ABK/001/15, Isiaka claimed that the election was characterised by non-compliance with the provisions of the Electoral Act, 2010 as amended.

After months of legal crossfire, the Justice Henry Olusiyi-led tribunal, in a unanimous judgement, averred that the petitioners failed to prove their case either on balance of probability or beyond reasonable doubt. The panel said the principal witnesses of the petitioners only made averments without evidence.

Hence, Justice Olusiyi dismissed Isiaka’s petition for lack of merit.

Although the PDP onslaught has been curtailed by Amosun especially with the non-appeal of the tribunal ruling

by Isiaka, another legal issue is lurking around for the APC and Amosun. The Mega Progressive Peoples Party (MPPP) recently got a judgement at the Supreme Court that its case should be given another hearing by the tribunal.

In a unanimous judgement, the seven justices of the Supreme Court held that the election tribunal headed by Justice Olusiyi was without jurisdiction when it struck out the petition filed by MPPP. The Supreme Court consequently ordered the President of the Court of Appeal, Justice Zainab Bulkachuwa to reconstitute ‘a different fresh panel to hear and determine the petition’.

The MPPP had sought the nullification of Amosun’s victory due to the alleged exclusion of its governorship candidate, Mrs. Iyabode Ogunmefun, from

the governorship election but its petition was dismissed by the tribunal.

Otti and APGA have vowed to appeal the tribunal’s judgement.

Ikpeazu brushes Otti aside After months of intense legal crossfire, the Abia Governorship Election Petition Tribunal sitting in Umuahia, on November 3, upheld the election of Dr. Okezie Ikpeazu of the PDP as the governor of the state.

The candidate of the All Progressives Grand Alliance (APGA), Dr. Alex Otti, had in a petition to the three-man panel, averred that he lost to the manipulation of the PDP in the April 11 election, stating that he won the election by an overwhelming majority of votes.

Delivering his judgement, the tribunal chairman, Justice Usman Bwala, said that the petitioners, Otti and APGA, did not prove their claim to have won the election “beyond doubt’’.

Faulting the inconsistency of Otti, the tribunal said that the petitioners called for the nullification of the election on one hand because it was marred by irregularities, and on the other hand, they asked that they should be declared winners of the same election.

Justice Bwala refused to grant the petitioners’ request for it to uphold the cancellation of the results of the election in Obingwa, Osisioma and Isiala-Ngwa North Local Government Areas of the state.

Bwala said that the State Returning Officer, Prof. Benjamin Ozumba, was not allowed under the law, to cancel the said results in the first place, hence the subsequent reversal by him had no effect.

The tribunal chairman, therefore, dismissed the petition because of the failure of the petitioners to convince the tribunal beyond doubt that they won the election.

Kebbi: Bagudu holds the ace The ruling of the Governorship Election Petition Tribunal that affirmed the victory Governor Atiku Bagudu of Kebbi State, obviously did not go down well with the candidate of the PDP in the April 11 poll, General Bello Sarkin-Yaki (rtd), hence his decision to seek redress in the Appeal Court.

Delivering the verdict of the tribunal, Justice Kazem Alogba, who is the chairman of the tribunal panel, said the petitioner failed to adhere to the process of filing a petition.

He averred that the PDP candidate abandoned the petition by filing for a free hearing notice behind time.

At the Court of Appeal in Sokoto, Justice Monica Bolna’an Dongban-Mensem, dismissed the appeal, saying that the petitioners did not take all necessary steps to ensure compliance with the time line provided by the Practice Directions.

Ajimobi floors Ladoja Expectedly, the legal battle in Oyo State was fierce, especially as it pitched former Governor Rashidi Ladoja of the Accord Party against Governor Abiola Ajimobi of the APC. Out of all the notable candidates who contested against Ajimobi, only Ladoja took to the tribunal to challenge Ajimobi’s declaration as winner of the April 11 governorship election.

Former Governor Adebayo Alao-Akala of the Labour Party, Senator Teslim Folarin of the PDP as well as Engr. Seyi Makinde of the SDP slugged it out with Ajimobi.

Delivering judgement, Justice Aliu Mohammed Mayaki, who is the chair-

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NEW TELEGRAPH MONDAY, November 9, 2015

win, lose at tribunals

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But in the judgement delivered on October 16 by Justice A. A. Adebara, the tribunal dismissed the petitioner’s prayer for cancellation of the election and affirmed el-Rufa’i as duly elected.

The tribunal equally dismissed the petitioner’s allegation of over-voting and alteration of scores for insufficient evidence and inability to prove the allegations beyond reasonable doubt.

Former Governor Mukhtar Yero of the PDP did not challenge el-Rufai’s election.

Not yet Uhuru for Ortom The chairman of the three-man panel in Benue State, Justice Elizabeth Karatu, on September 21, dismissed the petition of the PDP candidate, Mr. Terhemen Tarzoor. The Justice Elizabeth Karatu-led tribunal affirmed the election of Governor Samuel Ortom of the APC. Tarzoor had told the tribunal that Ortom was neither qualified nor sponsored by his party to contest the election following his improper resignation from the PDP. He insisted that he should be declared the rightful winner of the election.

Tarzoor has filed an appeal at the appellate court in Makurdi Division.

Yari floors Shinkafis In Zamfara, the election tribunal sitting in Gusau, Zamfara State capital, on September 17 dismissed the petitions of both APGA and PDP against Governor Abdulaziz Yari.

Former Governor Mahmud Aliyu Shinkafi of the PDP and APGA candidate, Sani Abdullahi Shinkafi, had petitioned the tribunal asking for the nullification of Yari’s election.

The tribunal chairman, Justice Grace Onyebo, held that there were no concrete evidence before the court to upturn Yari’s election.

The losers have vowed to appeal the ruling.

Waziri

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man of the tribunal, explained that the result of an election in law is presumed to be in order until proved otherwise.

Justice Mayaki said that the lead witness of the petitioner, Mr. Bimbo Adepoju, who led the inspection of the electoral materials, was a farmer and not an expert.

He said that an expert witness was very necessary in an election petition case and the tribunal could not rely on the evidence of a witness who was not an expert.

He said that the inspection of voters’ cards, voters’ registers, ballot papers and other electoral documents should have been carried out by an expert for it to be relied on by the tribunal.

The chairman said that the petitioner had failed to prove the allegation of corruption, malpractices, irregularities and manipulation levelled against the respondent.

Mayaki, therefore, dismissed the petition and upheld the declaration of Ajimobi as the winner of the governorship election in Oyo State.

Ladoja is yet to appeal the ruling of the tribunal.

Tribunal affirms Gaidam’s re-election The Yobe Governorship Petition Tribunal sitting in Abuja on October 21, upheld the election of Governor Ibrahim Gaidam.

In a judgement read by Justice Mojisola Dada, the tribunal held that the petitioners – the PDP and its governorship candidate, Waziri Maina – failed to prove their case.

The tribunal dismissed the petition for lacking in merit.

Delivering the judgment, Justice Dada said that out of the 27 witnesses called by the petitioners at the trial, none of them

Tarzoor

could give credible evidence to establish or prove the allegations before the court.

Counsel to the petitioners, Chief Adeniyi Akintola (SAN), had told the tribunal that more than 300,000 registered voters were disenfranchised.

He had also led evidence on the allegation that the Resident Electoral Commissioner (REC) was financially induced with N15 million to rig the election in favour of the governor.

Specifically, the petitioners had alleged that the governor’s ADC paid N8 million and N7 million into two accounts of the REC with Zenith and Diamond banks, respectively.

The petitioners had tendered documents and subpoenaed officials of the bank to testify to buttress their allegation.

In defending the petition, counsel to Gaidam and APC, Mr. Yusuf Ali (SAN), had submitted that in the determination of the petition, the tribunal should rely on law and facts.

Ali therefore prayed the tribunal to dismiss the petition.

In his submission also, counsel to INEC and the REC, Mr. Abeny Mohammed (SAN), described issues raised by the petitioners as “whirlwind in a tea cup or much ado about nothing.”

Okowa floors Ogboru, Emerhor Delta State governor, Ifeanyi Okowa, triumphed over his rivals – Great Ogboru of the Labour Party (LP) and O’tega Emerhor of the APC – at the tribunal.

The chairman of the tribunal, Justice Nashiru Gumi, in two separate judgements, averred that the petitioners were unable to proof their cases beyond reasonable doubt.

Justice Gumi wondered why Ogboru and Emerhor failed to convince the tri-

Isiaka

bunal that INEC breached the provisions of the Electoral Act, as contained in their petitions where they alleged over-voting and breach of the guidelines on Smart Card Readers.

He said that the allegations that the electoral process was riddled with fraud were not adequately substantiated. Justice Gumi held that the arguments of Ogboru and Emerhor’s counsels that PDP agents masterminded and supervised the ballot box snatching, stuffing and over-voting that marred the conduct of the governorship election, were not satisfactorily established.

Ogoru and Emerhor have vowed to appeal the verdict of the tribunal Maku appeals, wants Al-Makura’s election nullified Former Minister of Information and APGA governorship candidate in Nasarawa State, Mr. Labaran Maku, has not given up on his bid to unseat Governor Tanko Al-Makura.

The governorship election tribunal had dismissed his petition. But he has filed an appeal against the judgement of the tribunal at the Appeal Court, Makurdi Division.

Maku is asking the appellate court to quash the judgement of the tribunal and declare him winner of the poll.

Tribunal affirms el-Rufai’s election The Governorship Election Petition Tribunal sitting in Kaduna has affirmed the election of Malam Nasiru el-Rufai of the APC. The APGA candidate, Mr. Polycarp Danladi, who came third in the April 11 election, had prayed the tribunal to nullify el-Rufai’s election and order a fresh one as the poll did not comply substantially with the Electoral Act.

Lawan vs Shettima: Awaiting verdict The Borno State Election Petition Tribunal sitting in Abuja and headed by Justice Babs Kwewumi is yet to deliver its judgement.

The petitioners, the PDP and its guber candidate, Gambo Lawan, had approached the tribunal to challenge the election of Governor Kashim Shettima of the APC. Umahi wins The Ebonyi Governorship Election Petition Tribunal sitting in Abakaliki on October 16, upheld the election of Governor Dave Umahi.

Umahi’s election was challenged at the tribunal by the Labour Party’s candidate, Chief Edward Nkwegu.

Nkwegu had prayed the tribunal to either annul the election or declare him the winner of the poll due to several electoral malpractice and violence perpetrated by the respondent’s party.

The tribunal chairman, Justice Theresa Igoche in a judgement, that lasted more than eight hours, dismissed the petition for “lack of merit.”

Nkwegu has proceeded to the Appeal Court to challenge the verdict of the tribunal. He filed his suit at the appellate court sitting in Enugu, Enugu State, penultimate week.

Kwara: ADC challenges exclusion In Kwara State, the only one petition against the election of Governor AbdulFattah Ahmed was filed by the ADC on the ground that the party was excluded from the election in the state.

The governorship candidate of the ADC, Abubakar Abdulraheem, filed the petition challenging the victory of Ahmed.

All parties have made their submissions and are waiting for the tribunal’s verdict.

16 Politics

MONDAY, November 9, 2015 NEW TELEGRAPH

Opinion A pot pourri of contradictions Dominik Umosen

I

don’t know if I banked on a wrong horse, but after he travelled to South Africa and admitted to Nigerians there that re-fixing the country is a tax that is dear to him, especially after having lost loved ones in the struggle to stabilize the country, he remained irrevocably committed to unity of the country. For someone who doubted his readiness to deal with the peculiar Nigerian mess, this was reason for instant reconnection to the larger dream to hinge the country on the dream on her founding fathers.

You remember, how last week, I reminded the president that he straddled a unique moment of history, positioned to hammer this lingering mass of possibilities without potentialities into the original dream of our grossly-disappointed forebears. I confess that thoughts of President Muhammadu Buhari as an ordinary politician are yet to settle.

This persona is simply yet to sink. I may have ignored the fact that every man, including the most well-intentioned, is a political animal. But how can I ignore the fact that not long after he took over, the president created consternation with the revelation that the economy was in tatters.

Subsequent events eventually upturned this assessment. The economy not only failed to collapse as predicted, it bounced well enough for the president to start doling out rescue packages which partisans rechristened as bail-out packages for state governments.

I will not bother readers with the bewildering jeremiad of former Defence Minister and presi-

dential aspirant of the ruling All Progressives Congress (APC), that why Fulani herdsmen are terrorizing other nationalities is because they were denied education by corrupt regimes which they dominated. And which Rabiu Kwankwaso’s non sequitor failed to rationalize.

Part of the reason why thoughts of the president as a rabblerousing and swash-buckling politician don’t appeal is because the average politician in this part of the world abhors honour and integrity. That is why I warned the president to beware of partisans who told him that many states were owing workers salaries, instead of the honest fact that those owing are members of the rowdy ensemble of change.

A dangerous school of thought is emerging among Nigerians, for those who may not be aware.

Many commentators are given to the persuasion that fear, more than anything else, accounted for the skewed logic why the federal government shied away from probing the activities of previous governments in the country. Kwankwaso merely magnified this moral dilemma when he attributed the outrage of Fulani herdsmen in various parts of the country, especially in the North-Central and South-West, to poor education.

I simply can not rationalize this with the fact that this administration claims not to see evidence of several billions that were frittered away by a previous but bona fide administration which the president says he can not locate on his radar. But even as Kwankwaso continues to assault the sensibilities of Nigerians that Fulani herdsmen are ransacking every part of the country because they are ill-educated.

I would have loved to ask the former Kano State governor who he attributes the dilemma of the ordinary Fulani man to, even after they dominated the country politically since independence. But because of lack of opportunity, I pray that he would be honest enough to recommend to President Buhari what should befall those who collected whopping sums to educate nomadic herdsmen but simply disappeared with such amounts which actually pale in significance to Diezani Allison-Madueke’s alleged loot.

Somebody should tell me if President Buhari has transmogrified into a politician which would be bad news for ordinary Nigerians who have desperately been yearning for a statesman. Instead of another politician who is likely to recycle the same old quantum of hypocrisy which has denied the country the bounce and dynamism it required to become relevant in the comity of nations.

I have said it before and I do not mind repeating it that whether they accuse me of sounding like a broken record or not, you simply do not wash from the knees up and pretend to be clean. Or ready for change. The Ibibio of Akwa Ibom put it better when they say that any one who dwells too much in the past must be a wicked person.

We say we are not interested in probing the past but we are over-enthusiastic about exuming evidence of alleged wrongful asset declaration from the past to nail the Senate President, Dr Bukola Saraki. Please some one should help: is this a contradiction or evidence of political hypocrisy?

• Umosen wrote from dominik.umosen@gmail.com

NCC: Juwah’s graceful exit Abubakar Rabiu

T

he expected removal of the Dr. Eugene Juwah as Executive Vice Chairman of the Nigerian Communications Commission finally came on Tuesday, August 4, 2015. Prior to and since the 29th of July when his first term of five years officially ended, there had been a subtle and not too subtle fire fight in the media as to the appropriateness and legality or otherwise, of his continued retention at the NCC. But all that has passed and the man should be allowed the peace of a sober reflection of what has been and what might have been.

Eugene Ikemefuna Juwah came to the NCC in 2010 highly recommended and experienced. He was appointed following the exit of Mr. Ernest Ndukwe. Dr. Juwah boasts over 30 years of experience in the Information Technology and Telecommunications industry, about 20 of which he spent at top management levels. In 2014, he was also elected as the Chairperson of the Commonwealth Telecommunications Organisation.

With a PhD in Systems Engineering from the University of Manchester, United Kingdom, he started his career as a young graduate at Shell BP in 1976 where he was employed as a computer systems programmer working on applications in the Commercial Information Systems section.

Returning to Nigeria after his studies, he took up employment within the Leventis Group of Companies as Computer Systems Analyst. His flair for multidisciplinary functions led to his

being promoted Sales Manager (Computer Systems) in 1984, and by 1986 he had joined the ranks of management as Marketing Manager, rising to Divisional General Manager in 1988.

He played coordinating roles in the set up of Extended Total Access Communication System (ETACS), GSM and CDMA mobile networks in Nigeria, with hands on knowledge of the specification and construction of digital exchanges, base stations, data communications and subscriber access networks. As an experienced Network Operations Manager, Juwah has profound practical knowledge of regulatory issues, pricing, billing, interconnection and network fraud control within the Nigerian environment.

In 1999, he was again invited to join the management of MTS First Wireless Limited as Executive Director (Network & Operations), a position he held until 2005 when he resigned to start his own venture, Cititel Networks Communications Limited, a wireless infrastructure and services provision enterprise that specialised in the design of mobile cashless payment solutions for the unbanked.

Dr. Juwah was nominated Executive Vice Chairman/Chief Executive Officer of the Nigerian Communications Commission by President Goodluck Jonathan and confirmed by the Senate of the Federal Republic of Nigeria on the 29th of July, 2010 and is a fellow of the Nigerian Society of Chemical Engineers.

He took over leadership at the NCC following the huge vacuum created after the exit of Ndukwe and against the backdrop of challenges such as

electricity and infrastructure deficit; multiple taxation imposed on operators by various tiers of government; vandalisation of infrastructure; cross-regulation from ancillary agencies and operational sharp practices by service providers amongst others.

He therefore came prepared with an array of academic and professional qualifications as well as a wide range of experience spanning over three decades; bringing all these to bear on the NCC task.

On assumption of duty, he set out a road map known as the “Six-point Agenda”, among whose objectives were to consolidate the progress made prior to his assumption of office; improve on quality of service (QoS); enhance broadband implementation; improve competition; provide diversified choices for consumers at good quality and price and improve Nigeria’s presence in the international space.

In line with these goals, the NCC increased teledensity from 63 percent in 2010 to more than 100 percent as at July 2015. The subscriber base rose from 88 million in 2010 to more than 147 million as at July 2015.

The NCC did remarkably well in the contribution to Nigeria’s economy.

GDP contributions from the telecoms sector increased it from five percent to 8.5 percent as announced after the rebasing of the economy in 2014. Investment in the sector rose from $18 billion in 2010 to more than $32 billion today. The sector has created the most stable jobs and as investments grew, more jobs, both direct and indirect, have been created and are still being created.

Initiatives were taken to enhance broadband implementation, while spectrum licences were issued and infrastructure companies licensed to set up using an open access, non-discriminatory model. The commission also rolled out the Mobile Number Portability (MNP) scheme to deepen competition, as well as embarked on SIM cards registration to discourage the use of mobile devices for criminal activities.

Due to complaints from consumers and industry stakeholders against the various promotions offered by telecoms companies, the NCC evaluated the complaints especially against the need to sustain the integrity of the networks, the general interest of consumers, the socio-economic impact of promotions on operators and other relevant stakeholders and imposed a ban on such promotions. It took decisive steps to protect and promote the interest of consumers against unfair practices, and to promote fair competition in the industry by protecting operators from anti-competitive/unfair practices by other operators.

It is also to the credit of the leadership of the NCC that under outgone EVC, Nigeria’s international profile in telecommunications rose astronomically with several countries signing cooperative agreements to understudy Nigeria’s regulatory model. It is therefore in order that as Dr. Eugene Juwah moves on to other endeavours, he deserves all the ovations Nigeria can spare him.

•Rabiu, ICT Professional writes from Abuja

NEW TELEGRAPH MONDAY, November 9, 2015

Politics 17

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A miracle called Ada Igonoh

W

eeping may endure all night long but joy heralds the day, that is the story of First Consultant Medical Centre, Obalende, Lagos which made news headlines last year following the importation the Ebola Virus Disease EVD from Liberia by one deadly soul called Patrick Sawyer.

The phantom diplomat rushed straight to Obalende where he was warmly received by medics and given all attention befitting a roving Ambassador. Those great workers, care givers, did not know it was like dinner with the devil. One of them was Dr. Adah Igonoh.

The Chief Medical Consultant Dr. Benji Ohiaeri saw the agent of death from a distance.

The result of that August visit was lethal. Chief Physician, Dr. Stella Ameyo Adadevoh, Chief Anaesthesiologist, Dr. Amos Abaniwo and nurses Evelyn Ukoh and Justina Ejelonu lost their lives trying to save a man who deserved death.

Some of the departed were the most experienced Dr. Ohiaeri had. The CMD was preparing to hand over to Adadevoh who was in her 21st year at the Medical Centre. Abaniwo had put in 16 years. Ukoh , a widow with four children had served for 31 years and had helped deliver Dr. Adadevoh of a son in 1988, five years before the latter joined First Consultant.

Ejelonu was barely a week old when she died.

Dr. Igonoh was expected to die like the others because she was as close in contact with Sawyer as the dead. She lay in seclusion and battled for sur-

vival. Her husband, Godwin ,must have prayed more than the biblical prophets, he must have shouted Lord Jesus uncountable times to save him from widowerhood. Hours, long hours turned to days, days to weeks and weeks to months. God was all eyes and ears.

Today a little beyond one year after that near death experience, Dr Ada Igonoh is a proud mother of a bouncing baby girl. She who was to die has lived to multiply the population of the world. On Tuesday November 3, she gave birth at the Greater El- Monte Community Hospital, California , United States. As soon as the news hit the world, her colleagues could not hold their joy and tears of joy.

Dr. Ohiaeri waited for the next day to address a Press Conference in Lagos, flanked

by Mr. Igonoh, the proud father and Dr. Fadipe Akinniyi.

There he sat with smiles enveloping his face. The tears of 2014 suddenly dissolved into glee. Gloom had at last departed from his frame. The frailties of yesterday turned to fresh air of satiation. Yes Ada’s baby girl was certified Ebola free.

We congratulate the Igonohs on their baby girl, we also congratulate Management and staff of the First Consultant Medical Centre. This should not only be a time to celebrate it is a time to move ahead. And we commend Dr. Ohiaeri for also taking out time to eulogise the brave ones who died so that Nigeria would not die.

We single out Dr. Adadevoh who put in everything includ-

ing physical restraint to hold back the rabid Sawyer from sowing more Ebola seeds of death all over our beloved country. She fought the battle of her live to save this nation. Perhaps the spirit of her forebears, great compatriots, gingered her on. Adadevoh was a great grand daughter of Herbert Macaulay, Father of Nigerian Nationalism. She was also the great great great grand daughter of Samuel Ajayi Crowther, the First African Bishop of the Church Missionary Society [CMS]. She was also linked to the family of our first President , Dr. Nnamdi Azikiwe.

As we celebrate Dr. Igonoh, President Muhammadu Buhari should remember the dead. They all deserve post humous national recognition.

It is a shame that at the anniversary of the country’s freedom from Ebola, there was no delegation from Abuja. Only friends and families thronged Obalende.

However, the United States

As we celebrate Dr. Igonoh, President Muhammadu Buhari should remember the dead. They all deserve post humous national recognition

was fully represented. From Washington came a powerful delegation led by Deputy Assistant Secretary for Global Affairs, Mirch Wolfe. That did not speak well of a country that would have been partially depopulated if Sawyer had been allowed to paint Nigeria dark with Ebola.

On October 20, 2014, the World Health Organisation declared Nigeria Ebola free.

There was celebration in Abuja. Curiously, government officials did not think it was proper to invite Dr. Ohiaeri and all those who stood and worked to save the country.

We are also aware that apart from the Lagos state government and a few individuals and corporate organizations, Dr. Ohiaeri bore the burden of rebuilding the medical centre which lost equipment worth billions of Naira.

Nothing can replace the dead. Dr. Ohiaeri also lost his mother, [he is her only son].

She did not die because of Ebola but that was one of the events that made 2014 a terrible year for the Dim –NaNume, Imo state born professional. Infact, while others were celebrating Yuletide, he was busy committing her remains to mother earth.

We urge President Buhari to recognize the sacrifice of Dr. Adadevoh and her departed colleagues. They were not buried as Christians, their bodies had to be cremated so that Nigerians would live. If they gave so much to keep us all alive, then we must show appreciation. Let the birth of Baby Igonoh bring recognition to our brave dead.

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Sanctity Of Truth

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NEW TELEGRAPH MONDAY, NOVEMBER 9, 2015

19

Interview

File

Akpedeye: Lawmakers don’t deserve SAN title

‘Why APCON Act forbids non-member to practice’

20

22

Law

Anger over rights abuse TUNDE OYESINA and AKEEM NAFIU write that lawyers are pitted against each other on a verdict by an international rights organizationAmnesty International (AI) that ‘serious rights violation’ had continued unabated despite President Muhammadu Buhari’s promises of accountability.

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lthough they agreed that there are established forms of human rights abuse; impunity, killing and other forms of violation of rights in the country, lawyers differ on the alarm raised by Amnesty International (AI) that President Muhammadu Buhari had not lived up to his promise of accountability. A1 said ‘serious violations of human rights had continued unpunished’ barely six months after his swearing in as Nigeria’s fifth executive president.

The lawyer said the alleged infraction of rights particularly by the military in the ongoing war against the dreaded Boko Haram, Internally Displaced Persons, killing of a tennis star and other Lagos housewife by the police, Department of State Service’s (DSS) alleged invasion of Akwa Ibom Government House and the ‘kidnap’ of Director of Radio Biafra, Nnandi Kanu were not enough for AI’s knock on the nation’s rule of law and due process.

Amnesty International said a few days ago that despite remarkable things the nation

FOLUSO OGUNMODEDE JUDICIARY Editor

foluso.ogunmodede@ newtelegraphonline.com

© Daily Telegraph Publishing Company Limited

An alleged victim of rights violation by the police

had achieved within a short period, serious violations had continued unpunished.

Following this, AI in a statement in Abuja said it had opened a new office in Nigeria to be headed by Ambassador M. K. Ibrahim with a view to monitoring and documenting the abuse.

It said: “The new government has made promises of accountability, and we welcome that. Now, we must hold them to their words.

“Nigeria has achieved remarkable things but serious violations continue, unpunished.

“In establishing a permanent base in Nigeria, we want to send a clear message: Amnesty International stands in solidarity with the victims of human rights violations alongside the individuals and organizations already fighting abuses.”

However, AI’s perception of violation of human rights since President Buhari assumed the nation’s leadership has pitted lawyers against Amnesty. They insisted that the

The fact that the government is relatively young should not serve as an excuse for the seeming abuse of fundamental rights of citizens

body over exaggerated its claim as rights abuse had diminished in the last six months.

For instance, Chief Nkereuwem Udofia Akpan, President of Public Interest Lawyers League, Abdul Mahmud, Monday Ubani and Malachi Ugwumadu said that although it may be difficult to discountenance AI’s report, its conclusion was not enough to paint the country in bad light.

To Akpan, AI’s report could not be put on government’s doorstep where rule of force was prevalent.

According to him, the court which had vested powers to address some of these ills as said by AI must be blamed as the country operates a constitutional democracy where the rule of law rather than the rule of thumb should apply.

He said: “In that system that we operate, the courts are vested with powers to adjudicate dispute between individuals and individuals on the one hand and between individuals and government on the other hand. It is difficult to place any blame on government where due process is not followed but where there is non-compliance with statutory

provisions in the settlement of disputes, real or imaginary, then there is cause for concern.

“Having said that, the government is exclusively responsible for the protection of lives and property and where the government fails to do so in the face of the Boko Haram insurgency, the government is responsible for spike in the number of victims arising there from.

“Secondly, the soldiers have been accused of ignoring the laid down rules of engagement in the fight against Boko Haram insurgency on the one hand and the sloppy handling of internally displaced persons all added to the sheer number of rights abuses in the country today.

“I think, based on that, the Amnesty International has a point”.

Akpan was echoed by Mahmud who said even though the government was still in its embryonic stage, to assess it in view of AI’s perception of human rights could be difficult.

Mahmud said: “The fact that the government is relatively young should not serve as an CONTINUED ON PAGE 21

20 Law | Interview This year’s final Bar examination was not impressive following the percentage of failure recorded among students, what do you think is responsible?

The Council of Legal Education has released the results of both the Bar Final re-sit examinations held in April 2015 and the Bar Final examinations for regular students conducted in May 2015 in which a total of 5,588 candidates sat for the exams out of which 1,805 candidates failed the exams. 2,736 students participated in the Bar final re-sit examinations for the 2014/2015 school year. Of this number, 1,648 students were declared successful at the exams, while 98 students secured conditional pass and a total of 990 students failed.

The April results according to the law school Director-General translates to 60% pass, 3.6% conditional pass and 36.2% failure rate. For the May 2015 Bar Final Examinations conducted for the regular students, 2,852 took part in the examinations out of which four candidates made a first class, 109 candidates made Second Class Upper, 418 candidates made Second Class Lower, 1,422 got Pass, while 83 others secured Conditional Pass and 815 failed the exams. This translates to 68.5% Pass, 2.9% Conditional Pass and 28.6% failure rate.

Previous Directors-General of the school, have raised alarm over the falling standard of legal education in the country and the high failure rates being recorded in the Bar exams. Even the Vice President, Prof. Yemi Osinbajo has drawn attention to this development. In the last five years, with the exception of the 2013 set that posted impressive performance, results of the Law School examinations have recorded high number of failures, raising serious questions on the curriculum, teaching methods and capacities of individual students.

In my view, it is a reflection of the dwindling nature of the educational system in the country, legal education inclusive.

The steady decline is alarming.

Anyone that has been a student in a Nigerian university and the Nigerian Law School can attest to the marked contrast in the systems of these different educational institutions. The rigor experienced at the law school is second to known. The course are packed and rushed, the students barely have time for a breather before they are shipped out for the mandatory law office and court attachments, where in most cases they undergo certainly strenuous and energy-sapping tasks that further eats into their precious time needed for preparing for the Bar exams.

Various factors have been adduced for this decline. These include lack of consistency on the part of both NUC and CLE in ensuring compliance with the Benchmark Minimum Academic Standards for law in Nigerian universities and other stipulated requirements by the Council for Legal Education; excessive admission of stu-

MONDAY, NOVEMBER 9, 2015 NEW TELEGRAPH

Akpedeye: Lawmakers don’t deserve SAN title He is a former Delta State Justice Commissioner and Attorney-General. Dafe Akpedeye, a Senior Advocate of Nigeria speaks on the recently released final Bar examinations, public declaration of assets, NASS’ proposition to have lawyers who are members made SAN, immunity for lawmakers and sundry issues. FOLUSO OGUNMODEDE met him

Akpedeye

dents, which is often not based on merit or candidates’ scores in the university matriculation examinations; grossly dishonest methods adopted by some universities/ law faculties to secure accreditation when they are yet to meet the minimum requirements in terms of staff mix, facilities, studentstaff ratio, library etc. stipulated by both NUC and CLE; poor quality and scope of the teaching and learning processes and poor funding/financing of education (legal education inclusive) in Nigeria.

The falling standard of legal education has also been blamed on the lack of discipline on the part of the students.

What is the way out?

The Council of Legal Education (CLE) is the statutory body charged with the responsibility of ensuring standards in the teaching and learning of legal education. To arrest this development, I call on members of the council to ensure that the necessary restructuring and re-organization of the legal education is put in place so as to bring it to par with international standard. I urge them to immediately undertake a review of the curriculum of Law

Faculties and the Nigerian Law School. Efforts need to be geared towards developing a plan of action and strategic implementation framework to address the factors identified above, responsible for the falling standards of legal education. Also, the laws guiding legal education in Nigeria needed to be updated to reflect the demands of the time.

Legal education does not end in the Law School. There is also a need for mandatory continuing legal education for even practicing lawyers. I would advise the NBA to take a cue from the practice in other climes where continuing legal education is mandatory and ensure that all lawyers take part in some form of continuing professional development.

Is there a law that makes public declaration of assets compulsory?

Provisions on the declaration of assets by all public officers in Nigeria are entrenched in the Constitution. Also one of the most important provisions of the Code of Conduct for Public Officers contained in Part I of the Fifth Schedule to the 1999 Nigerian Constitution relates to the declaration of assets. By paragraph 11

There is now a growing trend toward requiring financial disclosure by government officials, including publication of asset declarations in order to combat corruption

of the Code, every public officer shall immediately after taking office and thereafter, at the end of his term of office, submit to the Code of Conduct Bureau a written declaration of his properties, assets and liabilities and those of his spouse and unmarried children under the age of 18 years. It goes on to list those considered public servants for the purposes of the Code of Conduct.

The law is clear on the matter. Public Officers are expected to declare their assets. However it is silent on whether such declaration should be announced or published by the maker.

This lacuna inadvertently has given room to different interpretations by different persons on the issue. Although they are not obligated by law to do so, public officers have gone ‘public’ on their assets declaration.

This has in turn put pressure on others to do so.

Over the years in Nigeria, corruption and the massive mismanagement of public funds have been the order of the day. Public officers treat the national and state coffers as their private fiefdom. Funds which ought to be for infrastructural and other social developments find their way into public pockets. The necessity for public declaration of assets cannot be over-emphasized.

The main aim of income and asset declaration is to combat corruption.

In a number of cases, information published in asset declarations has led to the exposure of substantial unjust enrichment in several countries.

Those countries with detailed disclosure requirements have experienced a reduction in corruption. There is now a growing trend toward requiring financial disclosure by government officials, including publication of asset declarations in order to combat corruption, foster public confidence in government and encourage foreign investment. That is what the Freedom of Information Act is for. It is expected that the Code of Conduct Bureau will uphold the requirement of FOI, by making this information available to Nigerians who request for it.

President Buhari’s portrait is missing in the Peoples Democratic Party’s Wadata’s office, does constitute a breach of the Constitution?

The Constitution does not provide for the hanging of the President’s portrait, however, it is the civic duty of all Nigerians to hang up the portraits in public places as a mark of respect for constituted authority. Convention requires that whatever public place within CONTINUED ON PAGE 24

Law 21

NEW TELEGRAPH MONDAY, NOVEMBER 9, 2015

Rights abuse: Lawyers tackle A1 C O N T I N U E D F R O M PA G E 1 9

excuse for the seeming abuse of fundamental rights of citizens and the politicization of the institutions of state that should ordinarily ensure that the state remains accountable to law, to the citizens and to itself.

“In the past five months we have experienced the incursion of the Department of State Security into the political arena and in a manner that suggests partisanship, erosion of the professional ethics and mandate of that Department.

Before our very eyes in July, we saw how the DSS literarily took over the office of INEC in Rivers, arrested and detained the Rivers Electoral umpire for weeks without charging her to court or bringing any criminal charge against her.

“But for the legal challenge mounted in court by her lawyers, this woman was subjected to untold harassment and ridicule by the DSS in flagrant violation of her fundamental rights as guaranteed by the Constitution. The same pattern of abuse was sustained in Akwa-Ibom state against INEC electoral umpire.

“The most flagrant recourse to politics was the forceful incursion of the DSS into the official residence of the Governor of the state.

“At the realm of the rights of citizens, we have seen the flagrant abuse of citizens. Take the case of Nnamdi Kanu of Radio Biafra who was literarily ambushed and kidnapped.

“For days, the DSS denied holding him only for it to arraign him four days after his kidnap at an Abuja Magistrate’s court on charges bothering on criminal conspiracy, managing and belonging to unlawful society and criminal intimidation contrary to Sections 97, 97b and 397 of the Penal Code.

“There are more civilized ways of compelling citizens to answer to their criminal comeuppance than the uncivilized manner of ambush and kidnap.

“During the past five months, officers of the Nigeria Police Force have lived to their poor reputation of abuse of the fundamental rights of citizens. In Lagos in the past few days, we have seen campaigns launched by Joe Okei-Odumakin to compel the police to prosecute a certain police for the cold murder of a Lagos housewife who refused to give the rogue police officer fifty naira bribe.

“Killings are going on everywhere in Southeast Nigeria all in an attempt by officers of the police to suppress the agitations of Igbo activists who call for the actualization of the sovereign state of Biafra.

“The question of the abuse of rights leveled against officers of the Nigeria Army in their fight against Boko Haram in the north east hasn’t been addressed. That the Nigeria Army refuses to open its operation in the north east to the scrutiny of the media raises the suspicion that it has something it hides. War doesn’t serve as a caveat for mass killing. In fact it regulates combatants’ behaviour that is consistent with international humanitarian law and the laws of the war of conflict even in the face of enemy fires”.

Ubani expressed his support for the report describing it as a reflec-

Ubani

tion of a series of rights abuses in the country.

He said: “I am a human rights lawyer and almost on a daily basis, I receive complaints from members of the public concerning violation of their rights by the police. I receive several calls by the day on how police have become more unfriendly. So, I guess the Amnesty International report might not be unconnected with the report we are getting everyday about the activities of policemen.

“It is so unfortunate that we are having this kind of report on the Nigeria Police when the Inspector General was generally seen as a humane officer and thorough bred individual who will not do anything to soil the image of the force.

“Policemen are supposed to be people’s friend. You run to them when you are in one problem or the other. So, I think more needs to be done in the area of monitoring of these officers because of the ugly trends. A lot of these officers are laws unto themselves because no one is monitoring them. We don’t want indiscipline in the Nigeria Police Force; they should be properly trained and equipped to perform their duties of maintaining law and order in the society.

“So, I think there are some elements of truth in the Amnesty International report going by what we hear every day concerning the activities of police officers”.

Another lawyer, Ugwumadu said it was very difficult to discountenance the allegation of the Amnesty International due to the fact that it now has an office in Nigeria unlike in the past, when it had a representative of their office in West Africa, saying, the integrity and content of Amnesty International was essentially data based and driven by verifiable facts.

He said: “You can also not be uncharitable to Nigeria to say we have equal or worst human rights abuses now than what we had under the military.

The question is; do we still have the challenge of human rights abuse in Nigeria at the moment?

Quite certainly, there are. Despite

Ogunade

the fact that Nigerians are now more conscious about their rights, they are not sufficiently mobilized to respond to the challenges of human rights abuses. This is because the Nigeria political class has succeeded in wiping out the middle class in this country. So, it is either you are rich or poor. The majority of the population also falls in the category of poor people.

This is the survival instinct level where you will barely want to eat, send your children to school and also have a shelter. Once you are able to do all these, you can hardly do any other thing else”.

“I think we need to engage the Solomon Arase led police force.

Why is it that at the highest echelon of the police you will find fine gentlemen but it is a different story when you get to the rank and file who interacted with the populace on a daily basis? We must also hold people directly responsible by specifically identifying officers who are culpable and ensure they are made to exit the force through legal means” Wale Ogunade simply said “I don’t agree with the Amnesty International report because as far as I am concerned, the police are trying to get better on a daily basis. I will not say that the police are involved in any human rights abuse because with the body language of President Muhammadu Buhari, these officers are trying to behave themselves.

They also know that the Inspector General of Police will not take any nonsense from them. This goes down to the various Commissioners of Police, Divisional Police Officers and other top echelons of the force. So, I don’t believe in the Amnesty International report. I don’t think there is any serious human rights abuse by the police in this dispensation.

I guess the report was all about some isolated cases where people are hit with stray bullets or manhandled by the police. You cannot compare what we are experiencing now with what happened when we have check points all around.

The contacts of the people with the police have been reduced minimally due to the non-existent of check points”.

Ex-Lagos NBA chair to bury mum November 26

The late Okoli

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former Nigerian Bar Association (NBA), Lagos Branch chair man, Mr. Chijioke Okoli will on November 26 join the Okoli clan of Otoli Nnewi, Anambra State to

pay their last respect to their depar ted matriarch and community leader, Mrs. Sophia Nwanyiafor Okoli.

Bor n on September 22, 1935 to Chukwuanu and Amana

Monica Okeke of the Ezeugbo ghalu kindred in the legendary Umuezeagha clan of Otolo, Nnewi, the deceased matriarch was aged 80 years.

She had her elementary education at New Bethel School, Onitsha before proceeding to St. Monica’s Colle ge, Ogbunike for her secondary education. She later married Fred Amadi Okoli.

She is survived by four sons, a daughter, several g randchildren, and a great g randchild among others including leading lawyer and litig ator, Mr. Chijioke Okoli and K. C. Okoli, the Dean of Nigerian lawyers in New York. She will be buried at her residence in Okofia Village, Otolo, Nnewi, Anambra State.

22 Law | File

MONDAY, NOVEMBER 9, 2015 NEW TELEGRAPH

‘Why APCON Act forbids non-member to practice’ Tunde Adedoyin

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he Outdoor Advertising Association of Nigeria is a body of all firms that have been duly licensed to engage in the practice of outdoor advertising (or out-of- Home Media - as it is popularly known) by the Advertising Practitioners Council of Nigeria (APCON). APCON as you all know is a creation of law, as it was established by Act No. 55 of 1988, as amended by Act No. 93 of 1992 and Act No. 116 of 1993 and is charged with the primary responsibilities of: l Determining who are quali fied advertising practitioners; l Setting the standard of knowledge and skills required of such practitioners; l Compiling, maintaining, and keeping the register of practitioners; l Regulating and controlling the practice of advertising in Nigeria; l Conducting qualifying examinations in the profes- sion; l Performing all such other functions as are incidental or conducive to the above responsibilities or any of them.

Where these responsibilities affect the practice of outdoor advertising, the Council has vested such powers in the Outdoor Advertising Association of Nigeria, OAAN. Thus OAAN has been duly recognized in law to regulate and control the practice of Outdoor Advertising in Nigeria. It is therefore reasonable to conclude that the Outdoor Advertising Media industry is an important sub-sector of the Nigerian economy as it is a major employer of labour; and the members pay substantial part of their income as taxes to all the tiers of government. It is also reasonable to conclude that this very important sector of our economy should be given all the necessary assistance and encouragement to flourish. The reality however is that operators, especially members of my Association, are groaning under the burden of practice, most of which are unnecessary yokes placed on us by the powers that be.

It is a well – known fact that the place of outdoor advertising to the success of all forms of marketing communications efforts cannot be over emphasized. As a matter of fact, its influence has continued to be on the increase.

This is largely because of the dynamic nature of the platform .It is one that can always easily adapt to prevailing trends. It has consistently been influenced by and has benefited tremendously from prevailing technological advancements.

Furthermore, outdoor advertising has also helped to light up and beautify our environment. It

Alegeh

makes the skyline of our cities more beautiful.

Above all, outdoor advertising is the most viewer - friendly platform when compared with other media platforms. It is the only platform from which the viewers get valuable information at no cost to them.

As a group of highly responsible professionals, our association is committed to the highest ethical standards. We are also committed to making the practice better and to accommodate the desires and expectations of the advertisers to the extent that we continue to help in the actualization of their visual communications objectives – there by further elevating their high level exposure in the market place. We are also committed to making our environment a great beneficiary of the beauty of outdoor Advertising.

There are within this gathering ladies and gentlemen that can attest to it that we are investing more than ever before in the business, and in the environment.

Challenges Distinguished ladies and gentlemen, I am mindful of the fact that this opportunity you have given me may not allow

The relevant laws, especially the APCON Act forbid anyone who has not been approved and licensed by that body to practice advertising in any aspect for gain in the country

me to present and discuss all the nagging issues in details, I crave your indulgence however to present and briefly discuss some of them here.

Prominent among the industry’s headache are the twin yokes of unrestricted government regulations and multiple taxations. Lack of appropriate and inadequate infrastructure (electricity) and influx of illegal operators are also issues that are of serious concern to us and a potential threat to the survival of the sector.

There is also the issue of huge indebtedness, especially by the clients. Permit me distinguish ladies and gentlemen to briefly discuss some of this issues.

Unrestricted government regulation: It is a common knowledge that a section of the laws of the land recognizes the local government for the purposes of controlling and deriving revenue from Outdoor Advertising, by way of permit fees. Lately, however, a number of states have hijacked such powers from the local governments and have now warehoused, so to speak, the powers in a new creation (perhaps not known to the laws of the land) called Signage and Advertise-

ment Agencies. In the Federal Capital Territory, it is known as the Department of Outdoor Advertisement and Signage, DOAS. And there is the issue of federal highways here both the respective states and the Department of Federal Highways have separate controls that the Outdoor operators have to cope with. There is so much Confusion; so much headache.

Multiple taxation: Closely related to the issue of multi – level regulation is also the issue of multiple taxation. Each level of government now arbitrarily fixes rates on the basis of which are largely – unknown. As it is, most states have identified Outdoor Advertising as a surer source of revenue after oil and gas. The effect of this on our business is that it has grossly discouraged our clients, who ultimately pick the bills from patronizing us.

Unfortunately they have other alternatives that they go to, to the detriment of our sector. The multipliers effect is the loss of business to us; the loss of employment to our staff; and the loss of lives in some cases.

Lack of appropriate infrastructure: The dynamic nature of our media platform demands the availability of the relevant infrastructure, especially unhindered supply of power. It is a well-known fact even at this gathering that this has not been the experience in a long while now. Thus, it has become fashionable for operators to invest in alternative sources of energy.

This has also added to the cost of doing the business.

Influx of illegal operators: The relevant laws, especially the APCON Act forbid anyone who has not been approved and licensed by that body to practice advertising in any aspect for gain in the country. And for a firm to practice Outdoor Advertising, it must have been duly registered as a member of OAAN, or must have obtained the APCON’s license to practice without being a member of the association. The experience, however is that a number of individuals and firms are operating in the industry and they are neither legally registered

by APCON to do so; nor are they registered with OAAN. This has been made possible by the Signage and Advertisement Agencies who allows anyone with the financial means to practice in their states, even when such violates the laws of the land.

The list of our challenges is endless. But we sincerely believe the problems are not insurmountable. And that is why we are delighted at this opportunity to make this presentation.

Our expectation is that you will help with the interpretation of the relevant laws and, beyond that, assist us in communicating it to the right places that the laws must be obeyed and respected and that illegal structures created by government (aka Signage Agencies ) should be dismantled and double taxation stopped forthwith. We do honestly think that the Signage and Advertisement Agencies are an aberration, and unknown to the laws of the land.

They are illegal structures that must be dismantled. But we need you to help us in this regards.

Law | News 23

NEW TELEGRAPH MONDAY, NOVEMBER 9, 2015

NAJUC honours Adesina, Ubani, New Telegraph, Thisday, others at dinner/award night Akeem Nafiu

T

he National Association of Judiciary Correspondents (NAJUC) honoured no fewer than 10 editors from select media houses at its maiden lecture and award night held at the weekend at the Ikeja Airport Hotels.

Honoured included the Senior Special Adviser to President Muhammadu Buhari on Media, Mr. Femi Adesina, Foluso Ogunmodede (Telegraph), Abimbola Akosile (Thisday), Barrister Ola Agbaje (Sun), Ranti Thomas, Mustapha Ogunsakin, Barrister Folorunso Ogunekun and Bertrand of the Guardian.

Other recipients of the award included the Lagos Chief Judge, Jus-

tice Atilade, a former chairman of the Ikeja branch of the Nigerian Bar Association (NBA), Mr. Monday Ubani and Adesina.

Dignitaries at the occasion were a former sports commissioner in Ogun State, Chief Fassy Yusuf, the Chief Judge of Lagos State, Justice Oluwafunmilayo Atilade, her predecessor, Justice Ayotunde Philips, the chairman of the Ikeja branch of the Nigerian Bar Association (NBA), Mr. Yinka Farounbi, the executive director, Access to Justice, Mr. Joseph Otte and scores of media executives.

A lecturer at the Faculty of Law, Lagos State University (LASU), Dr Gbenga Ojo spoke on ‘effective justice system as a panacea for change’.

In her address, Justice

Atilade assured litigants and the audience her tenure would not deviate from the reforms aimed at advancing the course of justice and ensuring quick and effective dispensation of justice in the state.

The CJ who was represented by the Deputy Chief Registrar (DCR) Legal, Mrs A.O Okunnuga, disclosed that the theme of this year’s seminar, “effective justice system as a panacea for change”, was apt and in tandem with her programs and desire for growth and transformation in the state judiciary.

She said: “Our various reforms and innovative programmes are geared towards advancing the course of justice and to ensure quick and effective dispensation of justice”.

Ojo, while delivering a lecture on the theme of the seminar, noted that the delay in the administration of criminal justice had remained a major constraint in the dispensation of justice across the country.

He however sought for the creation of a central portal for the appellate court judges to have a cross exchange of ideas in order to curtail inconsistencies in their judgements.

While maintaining that such inconsistencies in the appellate court judgments are becoming embarrassing, the law lecturer lamented that the Nigerian judicial system had continued to remain analogue rather than going digital.

Ojo said: “Legal practitioners are not doing enough in ensuring ef-

fective justice system in the country. There is therefore the need for continuous legal training for stakeholders in the Nigerian legal system”.

The lecturer while canvassing for the need for a massive deployment of Information Communication Technology (ICT) in the practice of law in Nigeria was also of the opinion that there was a need for specialised courts to deal with financial crimes.

Otteh in his speech, commended the media for its role in furthering the course of change in Nigeria.

He noted that effective justice systemwas needed to guarantee change, good governance and democracy.

According to him, “if our democracy must succeed, then our judiciary

must succeed because judiciary is the guardian of the constitution all over the world.

“The Nigerian justice system is not working because it is a major barrier to itself. Judges behave the way they do because of the oversight in the accountability expected of them”.

Otteh further asked that the corruption within the justice system should be seriously tackled while unwarranted transfers of judges and magistrates should also be halted because it slows down the course of justice.

In his welcome address, Ikeja branch Chairman of NAJUC, Akinwale Akintunde, disclosed that this year’s seminar is designed towards providing an avenue to take a critical look at the state of affairs of this nation, especially the judiciary sector, in order to identify those things to be done to achieve the desired change.

Yusuf (right) and a guest

L-R: Ogunmodede, Tunbosun, Ranti and Akosile, during NAJUC Award

CJN, Onnoghen bag NJI fellowship award Tunde Oyesina Abuja

T

he Chief Justice of Nigeria (CJN), Justice Mahmud Mohammed has been conferred with the prestigious fellowship award of the National Judicial Institute (NJI) for his outstanding contributions to the development of the judiciary in his 31 years on the Bench.

The award of a Fellowship of the National Judicial Institute is the highest recognition of distinction by the Judiciary and was conferred on him at the Supreme Court complex along with another Justice of the Apex Court, Justice Walter Samuel Nkanu Onnoghen.

Speaking after the award, the CJN remarked

that with the honour, he and his colleague had again been charged and challenged to continue to serve the country’s judiciary to the best of their abilities.

He however pledged to reciprocate the gesture by throwing his full support to the Judicial Institute in its drive to provide professional capacity building and qualitative continuing judicial education to members of the judiciary.

Recalling his 31 years of meritorious service, Justice Mahmud described the award as one of the highlights of his career as a judicial officer.

He said: “For Justice Walter Onnoghen and I to be conferred with a fellowship of the National Judicial Institute is a great privilege that mandates

Mahmud

that we extend profound gratitude to those who were instrumental in this rare honour.

“Special thanks must go to the Board of Governors for deeming us worthy of this award. Their unstinting support during my tenure as Chairman, especially through the difficult period of the

Judicial Staff Union of Nigeria strike and the 2015 elections, as well as their abiding cooperation with the Office of the Chief Justice of Nigeria is worthy of note and profound gratitude.

“This award is all the more befitting as it places us on the same pedestal as previous Chief Justices of Nigeria such as Justices Mohammed Uwais, Salihu Belgore, Idris Kutigi, Dahiru Mustapher, and my immediate predecessor, Aloma Muktar.

“These eminent jurists have doubtless written their names in the sands of time and in their contributions to the judiciary, have earned the right to be conferred with such merit. To be bestowed therefore with the same honour is not only humbling but

also challenging; it is a call to greater service.

“I would also like to thank our brilliant and truly outstanding Administrator, Justice Roseline Bozimo whose leadership and vision has steered this Institute since her appointment last year. With the support of the Institute’s amazing staff, my lord is truly on the way to transforming the Institute to achieving knowledge for excellence and better service delivery to the Judiciary”.

Speaking earlier, the NJI administrator Justice Bozimo said that the conferment was the second time in the history of the Institute and in the history of the Nigerian Judiciary that such an award is made.

The administrator ex-

plained that the fellowship was aimed at promoting integrity, accountability and transparency within the judicial process by recognizing those jurists who have stood firm over the years against unconscionable acts that may have brought the integrity and honour of the judiciary into disrepute.

“The NJI fellowship is of immense importance and significance as well.

In the journey to the establishment of the institute, noticeable number of jurists made immense contributions and sacrifice culminating in the establishment of the National Judicial Institute.

No doubt, such jurists ought to and should be recognized and their contributions formallyappreciated”.

24 Law

MONDAY, NOVEMBER 9, 2015 NEW TELEGRAPH

‘No laws make public declaration of assets mandatory’ Advocate of Nigeria has been conferred on lawyers who have practiced for at least 10 ten years and also distinguished themselves through exemplary performances in advocacy. It is also conferred on top-notch law teachers.

One of the criteria to be met for the award of the rank is that the candidate must be a legal practitioner called to the Bar and practicing in Nigeria as an advocate and must have been in active current legal practice for at least 10 years immediately preceding the date of application. Some of the lawmakers who are advocating for the conferment of the rank on lawmakers have been in the National Assembly for a long time and have been out of active legal practice during this period.

The fact that they make laws which lawyers in active practice apply does not qualify them for the title. They are in the National Assembly to enact laws for the peace order and good government of Nigeria. That is the task of lawmakers not to be hankering for honorific titles reserved for practitioner. After their tenure in office and they are back to active practice of law, then they can apply for the conferment of the rank.

Akpedeye C O N T I N U E D F R O M PA G E 2 0

the area where a person is President, his picture must be seen, whether it is provided by the law or not.

When nations of the world are adopting alternatives to capital punishment, the Nigeria Labour Congress is canvassing death penalty for corrupt officials.

Is death penalty panacea for corruption?

Though the current level of corruption in Nigeria is so high that it calls for drastic measures, I do not believe the death penalty for corrupt public officials is the way to go. The death penalty has been imposed on armed robbers since 1970. Has it stopped robbery? Capital punishment has not served as deterrent for crime and I do not believe it will do so now.

Furthermore, I share the views of the NBA President, Augustine Alegeh, SAN, that that government should evolve pragmatic measures to prevent people from looting the treasury. In corruption cases, the focus is on recovering of the money. Let us recover that money and use it to develop our country and not to kill the man.

Is there a need for Special courts to try corrupt public officials?

Corruption has remained in the front burner of serious discourse within and outside the country as an impediment to Nigeria’s development. It is against this backdrop that there is the need for concerted efforts to effectively curb the menace of corruption from our society. The reason special courts are being advocated is the failure of the court system to facilitate prompt prosecu-

tion of suspects. However my question to the proponents of the special courts is will the country import a different set of lawyers and judges to try the offenders?

Since it may not be easy to change the system because perfect humans exist nowhere, the best bet is to purify the system. The Judiciary occupies a fundamental position in the fight against corruption as such remaking the judicial process should be a cardinal point in the reformation process. Our courts can be structured in such a way that it is more efficient and effective in the administration and dispensation of justice. We also need to protect our judges and empower them. They also need to undergo trainings. We must also fund the judiciary and make it more independent.

This also goes for the institutions created to fight corruption. Merely playing lip service to this is not enough.

Lawmakers who are lawyers in the National Assembly believe they deserve to be made Senior Advocates of Nigeria because of their role in lawmaking process.

Do you share their view?

The Award of the rank of Senior Advocate of Nigeria (SAN) is a privilege awarded by the Legal Practitioners Privileges Committee as a mark of excellence to members of the legal profession who are in full time legal practice; have distinguished themselves as advocates or academic and have made significant contribution to the development of the legal profession in Nigeria. It is the equivalent of the rank of Queen’s Counsel in the United Kingdom, from which Nigeria adopted the rank. Over the years, the title of Senior

Plans by the National Assembly to give lawmakers immunity from prosecution is a setback for transparency, accountability and the rule of law

Are you satisfied with the number of law lecturers being awarded the rank of SAN in recent time?

As stated earlier, the rank of Senior Advocate of Nigeria (SAN) is

a privilege awarded by the Legal Practitioners Privileges Committee as a mark of excellence to members of the legal profession who are in full time legal practice; have distinguished themselves as advocates or academic and have made significant contribution to the development of the legal profession in Nigeria. The Legal Practitioners Privileges Committee may in appropriate circumstances, appoint an academic who has distinguished himself and made substantial contribution to legal scholarship and jurisprudence through teaching, research and published works in any Nigerian university, Research Institute, Nigerian Law School and other recognized institutions.

There are certain criteria to be met and if a lecturer meets this, why not? A lot of academics have contributed to the development of the law through their publications and the training they give to law students in the course of their career.

How would you look at the National Assembly’s plan to give lawmakers immunity from prosecution?

Plans by the National Assembly to give lawmakers immunity from prosecution is a setback for transparency, accountability and the rule of law. The problem with such immunity in Nigeria is the fact that we are a country, or a people notorious for flagrant disregard for rule of law. We do not respect

any law. In fact, Nigerians believe that when a law is made, it is meant to be broken. This is why if parliamentary immunity is granted, the level of abuse, judging by the behaviour of our legislators, will be immense. I have no doubt that such immunity conferred on them will be further used to intimidate the citizenry and their political opponents.

The IBA conference has come and gone, any lesson learnt?

The IBA conference was held from the 4th -9th of October in Vienna Austria. The conference was well organized and over 6,000 persons were in attendance. As usual, a large contingent of Nigerian lawyers was in attendance. But the heavy population of Nigerian lawyers has no impact on the stature that the Nigerian delegation ought to enjoy. I say the time has come for a rethink. It is indeed sad that Nigerians continue to attend the IBA conferences yet the impact is not felt at home. We come back and it is business as usual.

We go and listen to how lawyers in other climes have gone ahead to improve the laws in their countries and then we come home and sit and wait for another year to pass so we can attend the next IBA conference. The time has come to close the gap that exists between our legal system and other climes if we hope to compete effectively in the global market.

Businessman bags 10 years for drug trafficking Akeem Nafiu

J

ustice Musa Kurya of a Federal High Court in Lagos has sentenced a 38-year old man, Chibueze Onedigbo to 10 years imprisonment for drug trafficking.

Onedigbo, a businessman, was arraigned by the National Drug Law Enforcement Agency (NDLEA) on a one-count charge bordering on the offence.

At trial, the NDLEA prosecutor, Linus Nor told the court how the convict was arrested on April 7, 2013, at the Murtala Mohammed International Airport, Lagos about 210 grammes of cocaine during the outward clearance of passengers on board a Qatar Airline flight.

He said that the con-

vict had concealed the drug substance in a black leather bag.

The offence is said to have contravened the provisions of Sections 11 (b) of the NDLEA Act, Cap N30 Laws of the Federation, 2004.

Justice Musa Kurya, in his judgment, said that the sentence was in line with the sentencing guideline recently released for Federal High Court judges.

He said: “I have considered all the above and I am of the view that the prosecution has discharged it’s burden of proof.

“I have listened to the plea for leniency by the accused, and have taken into consideration all that has been said.

“In any case, the court is duty bound to sentence the accused having found

him guilty.

“More so, the court is guided by the sentencing guideline recently released for Federal High court Judges.

“Consequently, I hereby sentence the accused to 10 years imprisonment from the day of this judgment.

“The drug exhibits in custody of the NDLEA are to be destroyed within 30 days, if there is no appeal against this judgment”.

The convict upon his arraignment on August 29, 2013 by the NDLEA had pleaded not guilty to the charge, and was granted bail in the sum of N5 million with one surety in like sum.

The NDLEA called a total of two prosecution witnesses to prove its case against the convict

NEW TELEGRAPH MONDAY, NOVEMBER 9, 2015

25

BVN: Naira continues decline in parallel market

Stock Watch

Niger Insurance: Earnings spurred by cost optimisation

Insurance

Agricultural risks impact on poverty, says Opadokun

Govt policies creating revenue for neighbouring ports –Usifoh

27

29

30

34-35

Money Line

Interview

Business What's news

‘Nigeria controls 70% of Africa’s telecoms subscription' About 70 per cent of the total telecoms subscribers in African continent are in Nigeria, making the country the largest telecoms market in the continent, New Telegraph has learnt.

p.26

Transcorp targets 2,500MW by 2018 Transnational Corporation of Nigeria Plc (Transcorp) is planning to increase its power plant’s generating capacity to 2,500MW by 2018.

L-R: Director General of Pension Transitional Arrangement Directorate, Nellie Mayshak receiving blessings from Pensioners during the on-going civil service verification exercise in Kano.

IOCs, others deplete Nigeria’s oil reserves by 8.4bn barrels

nternational Oil Companies (IOCs) and their local counterparts in Nigeria depleted the country’s oil reserves by over eight billion barrels (8,465,967,704 barrels) between 2004 and 2014, New Telegraph gathered at the weekend.

A document of the Nigerian National Petroleum Corporation (NNPC) seen by this news-

paper revealed that 4.5 billion barrels (4, 517,802,138 barrels) were depleted through the Joint Venture (JV) between the NNPC and the IOCs while 1,323,323,531 barrels were depleted through Joint Ventures AF/CARRY production.

The crude production through Production Sharing Contracts (PSC) led to the depletion of two billion barrels (2,120,804,906 barrels); Service Contract Companies depleted 34.5 million barrels (34,522,801 barrels); Sole Risk Independent Companies depleted 412.1 million barrels (412,138,622 barrels) while a total of 57.4 million barrels (57,375,706 barrels) were depleted by Marginal Fields operators.

Meanwhile, the indigenous firms have in the last two years

INFLATION RATE September 2015.....................9.4% August 2015 ...........................9.3% June 2015.................................9.2%

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

SURGE

p.26

Indigenous firms’ crude reserves hit 10 billion barrels

The Business Desk Ayodele Aminu

Deputy Editor (Business)

Bayo Akomolafe

Asst. Editor (Maritime)

Sunday Ojeme

Asst. Editor (Insurance)

Tony Chukwunyem

Asst. Editor (Money Market)

Dayo Ayeyemi Property Editor

Adeola Yusuf Energy Editor

Wole Shadare Aviation Editor

Chris Ugwu

Capital Market Editor

Abdulwahab Isa

Adeola Yusuf

I

Finance Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

witnessed an upsurge in production and reserve strength.

This newspaper gathered that the reserves by local operators have hit 10 billion barrels.

This feat, further checks showed, was buoyed by the Local Content Act, which has given local production and contribution in the oil and gas sector a great deal.

“Twenty (20) per cent or more of the oil reserves is held by the independents, which is between

4.5 billion Being the barrels depleted through Joint Venture between NNPC and IOCs

nine and 10 billion barrels,” the document showed.

These indigenous players in the exploration and production (E&P) value chain of the oil and gas industry account for 300,000 out of the about 2.2 million barrels (bbls) of oil produced daily in the country.

The daily production, according to data, is supposed to be between 2.4 million barrels and 2.5 million barrels per day (bpd), but owing to vandalism and oil theft, the volume sometimes drops to 2.1 million bpd.

The Chairman/Chief Executive Officer of one of the indigenous E&P firms told New Telegraph that the local players were driving production growth, adding that there was CONTINUED ON PAGE 25

Rates Dashboard EXCHANGE RATE (BDC as at Nov 6)

USD . . . . . . . . . . . . . . . . . . . . . . N235 Pounds . . . . . . . . . . . . . . . . . . . N345 Euro . . . . . . . . . . . . . . . . . . . . . . N252

l Foreign Reserves – $30.308bn as at 6/11/2015

Source: CBN

EXCHANGE RATE (Interbank as at Nov 6)

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

26

Business |News

DESNITY Internet density currently stands at 57 per cent among Nigeria country’s 170 million people Kunle Azeez

A

bout 70 per cent of the total telecoms subscription in African continent are in Nigeria, making the country the largest telecoms market in the continent, New Telegraph has learnt.

This was disclosed in a chat by the Chief Executive Officer, Ntel, Mr. Kamar Abass, in Lagos.

Speaking on the potential of the market, Abass said that the country currently has over 150 million active mobile subscriptions and it is today the fastest-growing in the African continent.

The CEO said that the voice market has increased significantly in the country.

Abass noted that more attention should be paid to the development of the data segment of the telecoms market.

He said: “We have moved from General Packet Radio Service (GPRS) to 2G, to 2.5G to 3G ad to 3.5 and 3.75G and the next wave of development should be in the area 4G Long Term Evolution (LTE) technologies.

“4G LTE is the future of the internet and Nigeria cannot afford to lag behind in this area and this is where ntel, as a company,

IOCs, others deplete Nigeria’s oil reserves by 8.4bn barrels CONTINUED FROM PAGE 25

need for government to support them.

He said that the Nigerian Content Development and Monitoring Board (NCDMB) should support the growth of indigenous E&P firms by urging the IOCs to release assets (oil fields) they consider commercially less viable or low producing fields to the local companies to encourage them make more investments.

The flow stations and gas stations have been built and they are just there unused or underused. NCDMB’s collaboration with the IOCs, according to him, will ensure that percentage production matches that of reserves, improve cash flow, which will be deployed to construction of refineries. IOCs develop oil and gas for their countries, let’s do the same here, he added.

MONDAY, NOVEMBER 9, 2015 NEW TELEGRAPH

‘Nigeria controls 70% of Africa’s telecoms subscription’ look to play critical role in Nigeria.”

He explained that with the company’s revival of the SAT-3 undersea cable system, Nigeria would experience better highspeed internet services both by individuals and corporate.

Analysts have maintained that developing the broadband future can be achieved by focusing on 4G LTE technologies deployment, where Internet experience is better than what it is currently in the country.

Nigeria has approved a National Broadband Plan 2013-2018, which aims at deepening broadband

penetration by 30 per cent from six per cent in 2013.

Broadband penetration currently stands at 10 per cent in the country with telecoms contributing 11 per cent to the national Gross Domestic Product (GDP) with an auspicious target to achieve 25 per cent contribution in the next 10 years.

In the same vein, Chairman, Open Media and former Executive Vice-Chairman of the Nigerian Communications Commission (NCC), Dr. Ernest Ndukwe, decried the poor internet service delivery in the country.

He said: “If you ask average Nigerians what

has been their experience as far as Internet speed is concerned, they would hesitate to tell you that the experience has been very poor and this is something we need to work on.”

But Ndukwe pointed out that much still needed to be done by the government at all levels and the regulator.

He stressed: “There is a need for state governments, their agencies as well as the agencies of the Federal Government to collaborate with the telecoms companies to accelerate deployment of telecoms infrastructure. It should start with prompt

granting of Right of Way to the operators in order for the operators to meet their rollout roadmaps.

“For the regulator, I think the NCC needs to be more pro-enterprise in the way they regulate the industry. The more we have private players in the sector, the more competitive the industry becomes and the better for the sector to be able to enable the emergence of other sectors and the better for the sector’s ability to contribute to the industry.”

Meanwhile, the latest NCC report has revealed that the mobile Internet subscriptions on various networks in Nigeria stood

at 97 million as at the end of September.

According to the report, the Internet subscriptions grew by 31 per cent year-on-year to 97.1 million in September 2015.

This represents a density of 57 per cent on a population of 170 million, placing Nigeria well above the African average of around 16 per cent as estimated by McKinsey.

Subscriptions were primarily on the global system for mobile communications (GSM). Code Division Multiple Access (CDMA) and fixed networks continue to experience a gloomy outlook.

According to the official data, MTN Nigeria dominated, with a share of 43 per cent of total subscriptions. Globacom, Airtel and Etisalat accounted for 23 per cent, 18 per cent and 16 per cent respectively.

L-R: Research and Education of ForexRally, Mr. Razvan Mihai; Chief Executive Officer, Mr. Artem Trofymenko and General Manager, Mr. Fisayo Siyanbola, during a press conference on the Forex trading in Lagos.

Transcorp targets 2,500MW by 2018 OUTLOOK

Hospitality business now accounts for only 35 per cent of the group’s revenue, while power contributes near to 65 per cent Stories by Chris Ugwu

T

ransnational Corporation of Nigeria Plc (Transcorp) is planning to increase its power plant’s generating capacity to 2,500MW by 2018.

The Chief Finance Officer (CFO), Transcorp, Mr. Ibikunle Oriola, who stated this in an interview with New Telegraph, said the target was in fulfillment of the company’s strategy to contribute 25 per cent of power genera-

tion capacity in Nigeria.

“When Transcorp acquired Ughelli Power Plant in Delta State, the Bureau of Public Enterprises (BPE) gave a five-year target of 670MW. We have been able to increase the plant’s generating capacity from 169MW in November 2013 to 610MW by December 2014 – a 525 per cent increase. We plan to reach 1,000MW by the end of 2016.

In the medium term, we intend to have 2,500MW by 2018 in fulfillment of our strategy to contribute 25 per c ent of power generation capacity in Nigeria,” Oriola said.

On what informed the group’s venture into power and agriculture, the CFO said during much of the history of Transcorp, the hospitality business was near 100 per cent of the group’s revenue, with only one major asset --the Transcorp Hilton Hotel, Abuja.

Oriola said that the need for diversification was clear and the power and agriculture sectors were chosen because of the catalytic impact they have on economic growth, adding that the hospitality business now accounts for only 35 per cent of the group’s revenue, while power contributes almost 65 per cent.

Explaining the group’s Q3 results decline in bottomline, the CFO said that Transcorp Power, which is the largest subsidiary, suffered in the face of naira devaluation, as its dollar denominated expenditures on gas and debt servicing increased.

In addition, he said that the growth in the group’s hospitality business was slowed by seasonality and limited economic activities in Abuja.

The group posted a profit before tax of N7.19 billion for

the nine-month ended September 30, 2015 as against Q3 2014 of N9.71 billion.

Revenue for the group stood at N30.43 billion compared to Q3 2014 results of N31.40 billion. The company’s revenue increased by 102 per cent to N2.27 billion from N1.12 billion recorded in the corresponding period of 2014.

The company reversed the loss before tax of N1.36 billion in 2014 to a profit before tax of N1.24bn in September 2015.

Total assets for the group grew by seven per cent from N170.76 billion for full year 2014 to N182.98 billion for the third quarter ended September 30, 2015. The company’s total assets remained relatively on the same level in the third quarter ended September 30,2015 at N54.06 billion and N54.24 bilion for full year 2014.

Business | Money Line

NEW TELEGRAPH MONDAY, NOVEMBER 9, 2015

27

BVN: Naira declines further in parallel market Verification Number (BVN) for foreign exchange transactions.

According to dealers, the development resulted in demand for the United States currency soaring in the black market, causing the naira to drop to N235/$ and N232/$ in Abuja and Lagos respectively.

The Central Bank of Nigeria (CBN) had made the provision of the BVN mandatory for sale and purchase of foreign exchange by banks and

Volatility Local currency falls to N235/$ Tony Chukwunyem

T

he naira continued its downward plunge against the dollar in the parallel market last Friday as end users shunned Bureaux De Change (BDCs) to avoid submitting their Bank

BDCs from November 1.

But BDC operators complain that end users of forex are not complying with the apex bank’s directive because they are worried that providing their BVNs could expose them to attacks by fraudsters. This has led to dwindling patronage for the BDCs as their customers have now abandoned them for black market operators.

Indeed, a Lagos-based BDC operator, who did

not want his name in print, told the New Telegraph that business was so bad last Friday that many dealers did not send their application for forex bids to the CBN. He said, “Most of our customers are no longer coming to us to buy forex because they say they are not comfortable giving us their BVNs. They will rather go to the black market. So business has not been good for us since last Monday when the

Ben Bernanke, others to attend Access Bank's conference as a means to bring about change in society.

The theme of this year’s conference is “Leading in a transformational world – the imperative of innovation”. The event will be moderated by several renowned speakers including José-Maria Figueres, former President of Costa Rica and now a leading campaigner on environmental issues.

Speaking at a press briefing at the bank’s head office in Lagos, Executive Director, Personal Banking Division, Victor Etuokwu said life-changing innovations popping up in unexpected places around the globe with breakthrough develop-

Apart from Bernanke, Professor of Global Health, Sweden’s Karolinka Institute, Hans Rosling, Professor in Economics, University of Sussex, Mariana Mazzucato, Founder and CEO Gigameet.com Chinedu Echeruo and Founder of Infosys, Narayana Murthy, are among famous personalities expected to speak at the event.

The inaugural Access Bank conference in 2013 featured global leaders, such as former US President George W. Bush and Presidents Nicolas Sarkozy of France and Ghana’s John Kuffour, who discussed the importance of sustainable leadership

Tony Chukwunyem

F

ormer Chairman of the United States Federal Reserve, Ben Bernanke is among several prominent personalities that will participate in the Access Bank international leadership conference with global leaders from the worlds of technology, innovation, business and politics, taking place on December 10 at the Eko Hotel and Suites in Lagos.

Also scheduled to attend the conference are Facebook co-founder, Chris Hughes, Apple cofounder, Steve Wozniak and Air Asia founder and CEO, Tony Fernandes.

ments in sectors such as nanotech, biotech, artificial intelligence, robotics and more, will affect every sector of the global economy in such a way that businesses will have nowhere to hide. According to him, innovation means big change and even bigger opportunities for those who decide to be part of it.

“As we are all experiencing it, innovation is moving at a speed that’s never been witnessed.

With 2 billion internet users worldwide and 50 billion connected devices by 2020, innovative technology is definitely the defining trend for today’s business,” he noted.

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

As at Mar, 2015 Mar, 2015 Sept, 2015 4/6/2015 Mar 2015 6/11/2015 5/11/2015

N19,142,526.05m N18,579,219.49m 9.4 13 10.77 US$49.02 US$30,308,087,031

Source:CBN

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

FGN Bonds

TTM

Price 103.49 108.75 108.06 113.32 103.75 68.00 88.09

1.49 3.66 4.29 6.25 8.37 14.73 18.72

NIBOR

Tenor (Days) Call 30 90 180

Rate (%) 1.2917 13.6050 15.3583 17.4242

Bid Yield 12.46 12.91 13.01 13.18 13.43 15.60 13.95

Change (%) -1.96▼ -0.04▼ 0.06 ▲ 0.18 ▲

Change (%) -0.19 ▼ -0.12 ▼ -0.15 ▼ -0.06 ▼ -0.14 ▼ 0.00 ↔ 0.00 ↔

Price 103.64 109.05 108.36 113.62 104.05 68.30 88.39

Tenor (Months)

Offer Yield 12.35 12.81 12.92 13.11 13.37 15.52 13.90

Change (%) -0.19▼ -0.12▼ -0.15▼ -0.06▼ -0.14▼ 0.00 ↔ 0.00 ↔

NITTY

1 2 3 6 9 12

Treasury Bills

Rate (%) 3.0636 6.4172 7.1229 9.9056 10.6880 11.5387

Change (%) -0.04 ▼ -0.57 ▼ -0.10 ▼ -0.16 ▼ 0.01 ▲ 0.02 ▲

Money Market

Maturity Date Discount Bid Yield Change (%) Discount Offer Yield Change (%) Rate (%) 6.59 6.69 -0.39 ▼ Open-Buy-Back (OBB) 0.88 28-Jan-16 6.84 6.95 -0.39 ▼ 9.48 9.95 -0.08 ▼ Overnight (O/N) 1.25 28-Apr-16 9.73 10.23 -0.08 ▼ 9.84 10.89 -0.02▼ 20-Oct-16 10.09 11.20 -0.02 ▼

Spot($/N)

Bid 197.40

FX

Offer 197.50

Change (%) -0.71 ↔

NIFEX

Spot($/N)

Bid 199.0000

CBN Clearing Rates of October 30, 2015 Spot($/N)

196.00

197.00

0.00 ↔

Offer 199.1000

Change (%) -2.13▼ -2.33▼

Change (%) 0.00↔

BVN enforcement started. In fact, many of our members did not bid for forex because, according to them, there is no point buying more dollars when you have not sold what you have.”

He pointed out that following the CBN’s directive that BDCs should not sell forex to importers, the operators sell mainly to travelers and that it is this category of customers who do not want to provide their BVNs. It would be recalled that in reaction to reports that end users of forex are scared of providing their BVNs the CBN had last Thursday issued a statement assuring customers of the security of forex transactions.

The regulator emphasised that, “The BVN

is neither a payment instrument nor an account number and therefore could not be used to access any account by unauthorized users. The banks, BDC operators and even regulators use the BVN to validate the identity of a customer using some biometric information such as finger prints and photograph obtained at the point of enrolment.”

Continuing, the CBN stated, that,” For the avoidance of doubt, the provision of BVN by customers at the point of forex purchase or for any legitimate banking transaction with any of the above named institutions does not attract any security risk. Rather it protects the customer against identify theft.”

NDIC reiterates judiciary’s role in promoting financial stability

T

he Nigeria Deposit Insurance Corporation (NDIC) has reiterated that the Nigerian Judiciary is a critical institution towards achieving the NDIC’s core mandate of depositor protection and its contribution to financial system stability.

The Managing Director and Chief Executive of the NDIC, Alhaji Umaru Ibrahim, stated this at the opening ceremony of the Corporation’s 2015 Sensitization Seminar for Judges of States and Federal Capital Territory (FCT) High Courts in Abuja.

Alhaji Ibrahim said that no matter how robust the NDIC’s extant laws, the Corporation needed the legal support from the

judiciary to achieve its mandate, adding that the Corporation would continue to seek the cooperation and understanding of the judiciary, given that the Judiciary is constitutionally vested with the powers of interpretation of statutes and laws in the Federation.

The MD/CEO, who was represented by the Corporation’s Executive Director Operations, Prince Aghatise Erediauwa at the seminar with the theme: “Challenges to Deposit Insurance Law and Practice in Nigeria” said that the forum was intended to address the challenges being faced by the Corporation in its bid to successfully discharge its mandate.

Ekiti MfB seeks external funding to meet new challenge Dayo Ayeyemi

I

n its drive to meet the challenge posed by its new design for microcredit scheme, Chairman of Amoye Microfinance Bank, Mr. Feyi Ogoji, said the bank would require external funding to be able to reduce vulnerability to socioeconomic shocks in order to empower women in the society.

Ogoji stated this during a policy conference organised by the bank in Ikere-Ekiti, Ekiti State at the weekend. The chairman was represented by its Managing Director, Mr. Akanle Lateef Oluwole.

The policy conference on how microcredit can be used to reduce poverty through reducing

vulnerability to shocks and increase women empowerment was staged

by Amoye Microfinance Bank Limited in collaboration with Partnership for Economic Policy, Canada (PEP), and the Initiative for Evidence Based Development and Empowerment, Nigeria (IEBDEM).

Ogoji enjoined Chief Executive of IEBDEM, Dr. Damilola Olajide, to assist the bank to seek external funding for its new scheme.

Oluwole explained that the essence of the workshop was to sensitise participants of the various products available in the bank to drive Small Medium Enterprise (SME) business through funding with microcredit.

28

Business | Movers, Shakers and Appointments

Mouka appoints chief executive officer

M

ouka Limited, a leading mattress and bedding product manufacturer in Nigeria has appointed Raymond Murphy as Chief Executive Officer (CEO).

The appointment took effect from November 2, 2015.

Raymond takes over from Femi Fapohunda who had been the Acting CEO of the Company since 2014.

Murphy is a seasoned CEO with over 30 years of experience in developing and growing businesses across growth markets within the consumer goods and healthcare space.

Priorto becoming CEO of Mouka.

He held several executive and senior management positions at Gillette, PZ Cussons and Twinings Ovaltine, amongst other roles.

Raymond, a British national, brings to Mouka a wealth

of knowledge and experience with strong expertise in strategy, sales, operations, route-tomarket and marketing, having worked in the consumer goods industry across three different continents, including Africa.

Most recently, Murphy led the successful execution of a growth strategy at Twinings Ovaltine International in Nigeria, where he has previously lived and worked for over five years.

A board member of Mouka Limited and Partner at The Abraaj Group, Mr. Jacob Kholi, said: “We are pleased to welcome Raymond Murphy as Chief Executive and are confident that he will lead Mouka through its exciting journey ahead.

“Having established itself as a leading player in the mattress and bedding product manufacturing space in Nigeria, Mouka is now laying the foundation

for its next phase of growth.”

Reacting to his appointment, Murphy said: “I am very pleased to take on this exciting role and confident that I will take Mouka forward in its vision to be the premier mattress and bedding product manufacturer in Nigeria.

The CEO said that he strongly believed in the opportunity to innovate while continuing to produce high-quality products under Mouka’s renowned brand name.

Mouka is a leading mattress and bedding product manufacturer in Nigeria. The Company manufactures and distributes a wide range of quality foam, mattresses and bedding products under the ‘Mouka’ brand which is synonymous with quality. Mouka currently employs about 700 people across its three manufacturing facilities in Lagos, Benin and Kaduna.

Guinness Nigeria announces new directors

G

uinness Nigeria Plc has announced the appointment of Mr. Emmanuel Egerton-Shyngle as national retail sales director, and Ms. Anne Maingi as commercial effectiveness director.

The company in a release noted that both appointments are effective immediately.

Emmanuel, a sales management professional, joined Guinness Nigeria from Cadbury Nigeria Plc where he was a sales director.

In his new role, he will lead the field sales organisation, ensuring delivery of the Sales strategy.

He brings on board a broad multi-functional and cross-industry experience as well as a track record of implementing team strategies that have measurable benefits.

In his most recent role as sales director in Cadbury Nigeria, Emmanuel was responsible for Strategic market and business development, optimisation of the company’s route to market and effective distributor development.

Emmanuel has a wealth of experience within the al-

Maingi

Egerton-Shyngle

cohol beverage industry having worked in various commercial roles in Nigerian Breweries for about 20 years before joining Fidson Nigeria as general manager and later Cadbury as sales director.

Emmanuel also had a stint in the United Kingdom financial industry.

Also, Anne Maingi joined Guinness Nigeria from Unilever where she was head of modern retail and strategic implementation.

She will drive the sales effectiveness strategic lever of the commercial function, bringing on board a wealth of experience in the Fast Moving Consumer Goods industry.

Prior to Unilever, Anne was with Reckitt Benckiser and Procter & Gamble. Her key strengths are around new business set up, route to market strategy and execution, sales strategy development, modern retail channel management and capability development.

New image maker for LCCI

T

he Lagos Chamber of Commerce and Industry (LCCI), the premier Chamber of Commerce and one of the leading voices in the Organised Private Sector (OPS) in Nigeria, announces the appointment of Segun Alabi as its new Corporate Communications Manager.

Segun holds a Bachelor of Arts degree in English from the University of Ado-Ekiti and a Master’s degree in English from the University of Lagos, specialising in Language Use and Communication.

Director General of the Lagos Chamber of Commerce and In-

dustry (LCCI), Muda Yusuf, explained that Segun was a talented corporate communications professional, who has gained diverse experience in the Pay T.V, Manufacturing, Financial and Real Estate sectors.

He will be an added value and a real asset to the chamber, as the company continue to support, promote and represent the opinion of the business community, as well as contributing to the growth of our economy.

Segun had served as head of Corporate Affairs at Forthright Group of Companies, overseeing all public relations and commu-

Alabi

nications functions of the organisation.

He focused on media relations, image architecture, internal communication, perception management and social media management at various levels.

MONDAY, NOVEMBER 9, 2015 NEW TELEGRAPH

Jaiz Bank names managing director

T

he Board of Directors of Jaiz Bank Plc has approved the appointment of Mahe Abubakar as the acting Managing Director/CEO of Jaiz Bank Plc. Until his appointment, Abubakar was an executive director in charge of business development.

Mahe has a Master Degree in Business Administration from the Ahmadu Bello University, Zaria and he is a qualified dealing clerk of the Nigerian Stock Exchange.

He has attended several trainings in and outside Nigeria including High Potential Leader: Accelerating Your Performance at Wharton School, Pennsylvania, USA; High Performance People Skills,

London Business School; and Senior Management Programme, Lagos Business School.

In a statement by Idris Salihu, head, Corporate Communications Department of the bank, Abubakar took over from Muhammad Nurul Islam, whose two-year contract ends by the 17th of November, 2015.

Salihu said that the board thanked Islam for his innumerable contributions towards the growth and success of Jaiz Bank Plc in the last two years.

Nurul Islam joined Jaiz Bank in November 2013 and turned it around from a negative balancesheet to a positive result in 2014.

FMDQ appoints Ekineh non-executive director

F

ollowing the noobjection from the Securities and Exchange Commission (SEC), the FMDQ OTC Securities Exchange (FMDQ) Board of Directors has announced the appointment of Ms. Daisy Ekineh as an Independent Non-Executive Director, effective October 30, 2015.

In a statement made available by the management of FMDQ, the appointment is to put in place an effective corporate governance structure to facilitate proper oversight of its business

by the directors and management of the company.

With over 30 years of capital market experience, Ekineh, a former acting director-general of SEC, is currently the Chief Operating Officer of Global Mandate Consulting Limited.

While at SEC, she at various times served as Executive Commissioner (Operations) and Director, Securities and Investment Services, where she was responsible for the regulation of all public offers of securities, mergers and acquisitions amongst others.

Portland gets managing director

T

he Board of Portland Paints & Products Nigeria PLC (PPPNP), a subsidiary of UAC of Nigeria PLC, has announced the appointment of Mr. Mukhtar Yakasai as the managing director with effect from 23rd October 2015.

Until his appointment, Yakasai was from 2011, a special projects manager at UAC’s Corporate Centre with responsibility for Strategy and other strategic initiatives of the Group as well as a Non-Executive Director of .PPPNP. Yakasai, who started his career with Chemical and Allied Products PLC, a subsidiary of UAC, in July 1985 was at various times the former Managing Director of Spring Waters Nigeria Limited (SWAN) and Warm Spring Waters Nigeria Limited – the spring water businesses of the UAC Group.

He is an Alumnus of Ashridge Business

School, UK, is a member of the Nigerian Institute of Management (Chartered) and holds an honorary fellowship of the Institute of Administrative Management of Nigeria.

Yakasai is bringing to PPPNP a track record of sound knowledge and proven experience of the paints and chemical industry as he held various positions in CAP PLC including Regional Sales Manager, National Sales Coordinator, Business Manager Flame Guard and CAP Decorators, General M a n ager Business Development and General Manager, Paints.

Yakasai

Business | Stock Watch

NEW TELEGRAPH MONDAY, NOVEMBER 9, 2015

In the face of public apathy besetting the insurance sub-sector of the economy, Niger Insurance Plc has improved on its bottom-line due to strategic expansion drive and cost saving measures, Chris Ugwu reports

Niger Insurance: Earnings spurred by cost optimisation Share price movement of Niger Insurance 2014 Dec 31

W

orld over, the role of insurance in economic and human development has been largely acknowledged by governments, discerning individuals and astute investors.

Protecting valuable assets against unforeseen losses is an important step in creating a solid personal financial plan. The right insurance policies will go a long way towards helping to safeguard earning power and possessions.

In Nigeria, there are more compelling reasons why individuals, corporate organisations as well as governments should take insurance more seriously.

From unfolding developments, Nigerian citizens and establishments are under daily threats from risks emanating from natural disasters such as flood, rainstorm as well as man-made security risks like the current threat posed by Boko Haram insurgents, kidnapping and other heinous crimes, which are taking toll on innocent citizens and investments.

However, despite the ability of the sector to contribute immensely to the nation’s economy, shares of insurance companies quoted on the official list of the Nigeria Stock Exchange rather than appreciating in value have remained relatively stagnant even as a larger percentage of the companies have remained at the nominal prices of 50 kobo, which they were listed on the market.

Since the near collapse of the financial market in 2008, owing to a global meltdown, series of strategies including tighter regulatory frameworks and reforms in diverse sectors have heralded a period of unprecedented growth and stability in the country’s equity markets.

Hence, negative perception has trailed the subsector, compounded by the inability of over 85 per cent of the companies in the industry to pay dividend to shareholders for many years.

Market watchers attributed the inability of the sub-sector to rise above the nominal level to crisis of confidence.

Like some others in the industry, Niger Insurance Plc got its fair share from the dwindling fortune of the sub-sector as the movement of share price has tilted to negative trajectory.

The insurance firm’s price trend reflects the spike in values observed in 2007 and into the early part of 2008 as post-consolidation and speculative trade pushed prices upwards.

However, despite ending year 2014 on the negative side, as operating and underwriting expenses absorbed most of its revenues, leaving the company with low profit margins, there seems to

29

50k

2015

Adedeji

be light at the end of the tunnel as the firm began year 2015 on a positive note with 84 per cent growth in net earnings for the first quarter ended March 31, 2015 even as the half year and third quarter results followed on a positive trend.

The share price, which closed at 50 kobo per share in June 30, 2014, remained flat at a nominal value that when the closing bell rang on Friday, the company’s share price also stood at 50 kobo year to date.

Financials For the year ended December 2014, Niger Insurance posted 10 per cent decline in profit before tax during the financial year ended December 31, 2014.

The company in a filing with the Nigerian Stock Exchange said its full year pre-tax earnings decreased from N716.108 million in 2013 to N644.781 million accounting for a drop of 10 per cent.

The insurance firm’s operating profit transferred to general reserve increased by 10.11 per cent to N690.96 million from N627.42 million the previous year.

Gross premium written increased by six per cent to N11.064 billion during the period under review, from N10.443 billion recorded during the comparable period of 2013.

Niger insurance underwriting capacity was also red as gross premium income decreased by 1.04 per cent to N10.53 billion from N10.64 billion. The drop in gross premium was due to sharp rise in unearned premium.

The company’s total assets reduced by 6.40 per cent to N22.79 billion in 2014 from N24.75 billion the previous year and market capitalisation was N3.87 billion.

However, the company began the year 2015 with a leap in earnings as pre-tax profit rose from

The insurance sector is believed by market watchers to be experiencing good times due to various reforms

Jan 31

50k

Feb 28

50k

Mar 31

50k

Apr 30

50k

May 31

50k

June 30

50k

July 31

50k

Aug 31

50k

Sept 30

50k

Oct 30

50k

Nov 6

50k

one of the most competitive in the country today.

He pointed out that the plan could compete with any other post-retirement arrangement despite the obvious dominance of the business by the PFAs. According to him, “Niger has started selling annuity and the package we have is one of the most competitive. In a short while, we will be there among the best. Naturally, the PFAs are reluctant to let the fund go. What we have now can compete with any other programme and I am sure more business will surely come our way.”

N240.649 million in first quarter of 2014 to N377.102 million in 2015 Q1, representing an increase of 56.70 per cent while profit after tax equally grew to N342.660 million from N186.001 million in 2014, representing a growth of 84.22 per cent.

However, gross premium written dropped by one per cent to N3.048 billion during the first quarter of 2015 to N3.079 billion in 2014.

The underwriting firm also posted a profit after tax of N359.800 million during the half year ended June 30, 2015 from N156.765 million in 2014, accounting for a growth of 129.51 per cent.

The company’s pre-tax profit also rose to N568.874 million as against N293.748 million recorded in 2014, representing 93.66 per cent.

Its gross premium written stood at N6.167 billion in 2015 as against N5.606 billion in 2014, accounting for growth of 10 per cent.

Niger Insurance sustained positive bottom line as it recorded 40.52 per cent increase in profit after tax for the third quarter ended September 30, 2015.

The company in a notice to NSE said its net earnings during the period under review grew to N513.971 million from N365.771 million posted during the comparable period of 2014.

Its profit after tax equally rose to N613.074 million as against N419.501 million recorded in 2014, representing an increase of 46.14 per cent.

However, gross premium written dropped by 4.64 per cent to N7.900 billion in contrast to N8.285 billion posted in 2014.

Looking ahead The Chairman of the company, Alhaji Bala Zakariyau, said during the firm’s 45th annual general meeting that the company began 2014 with a planned review of its operations and strategies for improved performance.

Zakariyau told shareholders that the focus was on cost optimisation without compromising on efficiency of service delivery.

“This reflected in suspension of non-profitable products and repackaging of others. Management embarked on research and development activities with additional vigour. This gave rise to design and submission of about 10 new products to NAICOM for approval.

“To minimise the impact of the emerging challenges faced by the national economy, your company will ensure adaptation to the unfolding scenario through repositioning of all its operations. We are determined to give more attention to retail segment of the industry, which is less volatile, and diversify investment portfolio, review and revamp product offerings,” he said.

Zakariyau had also said during the firm’s 44th annual general meeting that notwithstanding the harsh operating environment, the firm was delivering value to its shareholders, a testimony that its business model was resilient enough to deliver on consistent basis.

“The company is looking into the possibility of doing away with any loss sustaining subsidiary so as not to impact negatively on the group performance,” he said.

The chairman said that the firm would focus its attention on revamping and reintroducing old products after making them more attractive to the insuring public.

He said: “We will continue to strengthen our renewed strategic alliances with insurance intermediaries and clients to engender improved market share and to advance our leadership position in the industry.”

Profit drivers The Managing Director of Niger Insurance Plc, Mr. Kolapo Adedeji, while speaking on the strength of the company’s annuity programme, said Niger had been able to raise its head above the stormy waters to ensure that its annuity business remained

Conclusion In spite of several challenges posed by harsh operating environment, the insurance sector is believed by market watchers to be experiencing good times due to various reforms and initiatives introduced by the National Insurance Commission (NAICOM).

MONDAY, NOVEMBER 9, 2015 NEW TELEGRAPH

30

FLOOD The frequency in flooding due to climate change poses danger to food security Stanley Ihedegbo

M

anaging Director of Nigerian Agricultural Insurance Corporation (NAIC), Mr. Bode Opadokun, has said agricultural risks have a profound impact on poverty in the country.

Speaking at the in Abuja recently, Opadokun said that agricultural risks has undermined the possibilities of rural entrepreneurs particularly farmers to accumulate assets, invest in and develop businesses.

He added that the recent apparent increase in the frequency of natural disasters have exposed farmers to catastrophic risks such as flood, drought and pest infesta-

Equity Assurance records 159% loss in Q3 2015

R

isk Company, Equity Assurance Plc on Tuesday announced a 159 per cent(%) loss for its third quarter (Q3) nine months period ended 30th September 2015.

This is contained in a notice to the Nigerian Stock Exchange (NSE, that its loss for the third (Q3) ended September, 2015 stood at N543.016 million as against N209.2 million lost reported in 2014 The notice added that its gross written premium dropped to N3.4 billion in nine months ended 30th September 2015 when compared to N3.9 billion recorded in same period of 2014; representing a 14 per cent drop.

While net assets fell by 14 per cent from N3.998 billion in 2014 to N3.422 billion in the period under review, while its loss before tax moved up from N125.8 million in 2014 to N484.219 million in 2015; indicating 285 appreciation.

The insurer earnings per share came down to a loss of N0.06 kobo in 2015 from N0.02 kobo in 2014; indicating 200 per cent loss.

Insurance Agricultural risks impact on poverty, says Opadokun tion of their farmland as a result of the changing climate.

“Recently the production sector of the agricultural value chain in Nigeria has been affected by the adverse weather in the event of flood, which has become more frequent due to climatic change as presently being experienced in Sokoto, Kebbi, Adamawa, Rivers, Ebonyi, Delta, Kogi and others. Data collected suggests that climatic change is leading to an increased volatility in weather patterns and consequently instability in commodity prices, which places financial stress on producers, consumers, importers, exporters, financiers and governments.

“These risks, poses a major challenge to agricultural production and its ability to contribute to the growth and development of the economy.

As budgets to respond to these crises are under pressure, there is an essential need to establish risk management strategies before a crisis occur, rather than reacting to the event,” he said.

According to him, when the risk of adverse events cannot be avoided

T

or eliminated, the management option available to value and supply chain actors are either mitigate, transfer or cope with these risks.

“Risk mitigation encompasses actions taken to reduce exposure to, severity of or the probability of loss from that event while Risk trans-

fer strategies have as the central logic the transfer of risk from some participants and institutions on to others that might be able to cope with it which is an Insurance Institution.

“Even when farmers utilize mitigation and risk transfer strategies, they may still retain

some degree of risk exposure. Coping with risks involves accepting the loss, when the event occurs. Thus risk coping involves activities for facing risks and dealing with the resultant losses. e.g having precautionary savings, selling productive assets, seeking temporary employment

and other measures but which of course is not the best means of managing risk,” he added.

NAIC boss said that agricultural insurance, apart from providing cover against losses caused by natural and uncontrollable factors/ events which adversely affects agricultural production, is also able to provide risk-aversion or risk-minimization measures through an effective agricultural extension approach, especially for the noninsurable risks and uncertainties.

L-R: Assistant Director, Research and Technical, Chartered Institute of Stockbrokers (CIS), Mr Arize Nwobu; second Vice President, Mr Dapo Adekoje; Anambra State Governor, Willie Maduabuchukwu Obiano; Acting President/Chairman, CIS, Mr Oluwaseyi Abe; and Registrar/ Chief Executive, Mr Adedeji Ajadi, during the Institute’s courtesy visit to the governor.

he Commissioner for Insurance, Mohammed Kari, has called on the Federal Government to give research a major priority in its quest to develop technologically.

He said that taking full advantage of research and realising the full dividend for the economy required significant improvements in the translation of research to business, adding that many systematic and cultural barriers exist, as well as market failures that can be profitably addressed by government action.

Kari, who stated this at the maiden conference on Management, Technology and Development of the Abubakar Tafawa Balewa University (ATBU), Bauchi, observed that incentivising and facilitating businesses, particularly Small to Medium Enterprises (SMEs), to efficiently adopt new technologies could further lift innovation, productivity growth and competitiveness He noted that improving collaboration in Nigeria, between businesses and publicly

NAICOM boss advocates research for enhanced productivity funded research institutions including the Universities, will significantly enhance innovation. International collaboration is also critically important. Both domestic and international collaboration will improve the productivity and competitiveness of Nigerian technology based firms.

He further said that technological innovation is key to building industry competitiveness, through increasing productivity and reducing costs, realising commercial opportunities from research investment, and creating new areas of competitive advantage.

He also called on the authorities of the University to reach out to insurance sector and ensure some relationship is developed soonest in order to have partnership with insurance sector.

The commissioner pointed out that if Nigeria is to maxi-

mise the contribution of technology to innovation and productivity in industry, there was need for the country to invest heavily in technological development and its management, which will in turn aid growth and suitable competitiveness in various sectors of the economy He said he rate technology and its application as one of, if not the main driver that can fast track any meaningful development.

The NAICOM boss added that there is no denying that the changes in technology have affected most industries worldwide, adding that globalization, which dominates the world today, was influenced mainly by information technology.

According to him Information technology (IT) has transformed the process of production, product design, raw materials sourcing, trans-

port, manufacturing, health care, marketing, service delivery and even general management.

He said: “Industrial competitiveness has enabled countries to increase their presence in international and domestic markets whilst developing industrial sectors and activities with higher value added and technological content. The question is how did the developed countries attain the successful mix they enjoy today?”

He, however, identified translating research to business; provide Incentives to innovate; local and international collaboration: research to business and business to business and technology adoption as the key action areas government must address to maximise the contribution of technology to innovation and productivity in industries.

Business | Insurance

NEW TELEGRAPH MONDAY, NOVEMBER 9, 2015

EFFECTED Only eight underwriting firms have so far forwarded their details to the regulator Sunday Ojeme

O

perators in the insurance sector have once more headlined their inability to lead the country’s financial sector with 50 out of the 58 operators lagging behind in forwarding their third quarter returns to the regulator, the National Insurance Commission (NAICOM).

This is coming when half of the operators in the banking sector have made their returns public.

A notice posted on NAICOM’s website, revealed that 50 underwriters are yet to submit their 2015 third quarterly (Q3) returns to Commission.

Those that have successfully forwarded their returns are Cornerstone Insurance; ARM Insurance; FBN Life; Fin In-

31

Q3: AXA Mansard, Leadway, 48 others yet to submit returns surance; KBL Insurance; Lasaco Assurance; Oasis Insurance and Wapic Insurance.

Operators that are yet to submit include Zenith Life Insurance; Zenith Insurance Company Ltd; Continental Reinsurance Company Plc; Nigeria Reinsurance Corporation; Investment & Allied Insurance Plc; Spring Life Assurance Plc ; Old Mutual Insurance Gen.; Old Mutual (Oceanic Life) Nig. Life Assurance Ltd; Prestige Assurance Plc ; Regency Alliance Insurance Plc ; Royal Exchange Insurance Company Ltd; Royal Prudential Life Assurance Plc and Sovereign Trust Insurance Plc. The list also includes Staco Insurance; Standard Alliance Insurance Plc; Standard Alliance Life Assurance Company Ltd; Sterling Assurance Nigeria Ltd; Universal Insurance Company Ltd ; UBA Metropolitan Life In-

surance Company Ltd; UNIC Insurance Plc; Union Assurance Company Ltd; Unitrust Insurance Company Ltd ;UnityKapital Assurance Plc and Wapic Life Assurance Ltd. Others are Law Union & Rock Insurance Company Plc; Leadway Assurance Plc ;Linkage Assurance Plc; AXA Mansard Insurance Plc; Mutual Benefits Assurance Plc; Mutual Benefits Assurance

Plc; Mutual Benefits Life Assurance Ltd; NEM Insurance Plc; NICON Insurance Ltd; Niger Insurance Plc; Nigerian Agricultural Insurance Corporation; IEI; Goldlink Insurance Plc; Great Nigeria Insurance; Guinea Insurance Plc; Industrial & General Insurance Plc Custodian & Allied Insurance; Custodian Life Assurance Ltd; Equity Assurance Plc ADIC (NSIA) Insurance Ltd

;African; AIICO Insurance Plc; Alliance & General Insurance; Allinace & General Life Assurance; Anchor Insurance; Capital Express Assurance Ltd AND Consolidated Hallmark Insurance.

The notice further said that Alliance & General Insurance; Allinace & General Life Assurance; Goldlink Insurance; Nicon Insurance; Investment & Allied Insurance Plc and

Spring Life Assurance Plc are yet to submit their second quarter (Q2) returns to the commission.

It further said that Alliance & General Insurance; Allinace & General Life Assurance; Goldlink Insurance; Nicon Insurance Investment & Allied Insurance Plc and Spring Life Assurance Plc are yet to submit their first quarter (Q1) returns to the commission.

NCRIB commends NAICOM on insurance desks for MDAs

T

he Nigerian Council of Registered Insurance Brokers (NCRIB) has applauded the National Insurance Commission (NAICOM) for stressing the necessity for Ministries, Departments and Agencies (MDAs) of government to urgently set up dedicated insurance desks that are manned by qualified insurance practitioners.

The Commissioner for Insurance, Mohammed Kari, had reportedly made this call during a meeting he held with the Comptroller General of Customs, Col. Hameed Ali (rtd), in Abuja, recently.

The President of the Nigerian Council of Registered Insurance Brokers, Kayode Okunoren, said that the call

by NAICOM would further grow the Insurance Industry in Nigeria and assist strategic agencies of government to benefit from opportunities of risk mitigation provided by the insurance industry.

Okunoren further stated that the prudential disposition of the current administration would not be complete without adequate attention directed at engaging

the insurance industry, in order to return the economy to vibrancy while stressing the bugging challenge of late payment and non budgetary allocations by some MDAs for insurance placement.

The NCRIB President implored other large non-governmental organizations to also create insurance desk that would be manned by qualified insurance professionals.

In a related development, NCRIB has applauded the government of Lagos State, Akinwumi Ambode for appointing Dr. Mustapha Akinkunmi as Commissioner for Finance.

Okunoren described Akinkunmi as a seasoned financial expert who would bring to bear on the state financial management his robust pedigree and competence.

He further applauded the Lagos State government for sustaining the heritage of being one of the most Brokers friendly state governments in Nigeria and advised other states to emulate Lagos State by making insurance pivotal of their financial cum economic thrust.

L-R, Generaral Manager, Corporate Affairs, Federal Airport Authority of Nigerian (FAAN), Hon. Yakubu Dati; Managing Director, Media Age Communication Ltd., Mr. Ariyo Akinfenwa; Managing Director, Tobrass Aviation, Capt. Roland Iyayi, and Head, Public Affairs, Accident Investigation Bureau, Mr. Tunji Oketunbi, at the celebration of years of Aviation in Nigeria, in Lagos.

PHOTO: TONY EGUAYE

Ondo begins implementation of PRA 2014

O

ndo State Government has commenced implementation of the Pension Reform Act 2014 in phases, Inspen has learnt.

The Director-General Ondo State Pension Commission Jaiyeola Olowosuko, disclosed this in an interview, adding that the

first phase has commenced with employees employed in 2014.

He noted that full implementation will commence soonest, adding that necessary arrangements have been made to ensure smooth running of the scheme.

It would be recalled that the state constituted it scheme last

year and appointed 12 Pension Fund Administrators (PFAs) to manage the contributed funds.

The PFAs considered include, Oak Pensions Ltd, Trust Fund Pensions, PAL Pensions Ltd, Arm Pensions, Premium Pension Ltd, Legacy Pensions and others.

Old Mutual Q3 sales climb 31% on growth

O

ld Mutual, Africa’s biggest insurer, said gross sales rose 31% in the third quarter as sales increased on the continent and at its wealth unit. The stock advanced to a record in Johannesburg trading.

Sales climbed to 8.1 billion pounds ($12.5 billion) from 6.2 billion pounds a year earlier, London-based Old Mutual said

in a statement on Wednesday.

Funds under management were flat at 319.4 billion pounds.

Old Mutual makes the bulk of its earnings in South Africa where the rand has declined against the pound and the dollar this year. Old Mutual is focused on expanding sales of life insurance in faster-growing African markets and long-term savings products in the UK, while devel-

oping its asset-management operations in the UK, the US and South Africa.

“We expect exchange rate movements to temper sterling reported growth and conditions for emerging markets to remain challenging,” finance director Ingrid Johnson said in the statement. The company is “confident” of continuing to deliver sustainable growth, she said.

Business | Financial Market News

32

MONDAY, NOVEMBER 9, 2015 NEW TELEGRAPH

FMDQ Daily Quotations List

6-Nov-15

The DQL contains data relating to, amongst other things, market and model prices, rates of foreign exchange products, fixed income securities and instruments in the financial market (the “Information”). The Information does not constitute professional, financial or investment advice. We attempt to ensure the Information is accurate; however, the Information is provided “AS IS” and on an “AS AVAILABLE” basis and may not be accurate or up to date. We do not guarantee the accuracy, timeliness, completeness, performance or fitness for a particular purpose of any of the Information, neither do we accept liability for the results of any action taken on the basis of the Information.

Bonds FGN Bonds

Price

Rating/Agency

Issuer

NA

NA

Description 13.05 16-AUG-2016 ^15.10 27-APR-2017 9.85 27-JUL-2017 9.35 31-AUG-2017 10.70 30-MAY-2018 ^16.00 29-JUN-2019 7.00 23-OCT-2019 ^15.54 13-FEB-2020 ^16.39 27-JAN-2022 ^14.20 14-MAR-2024 15.00 28-NOV-2028 12.49 22-MAY-2029 8.50 20-NOV-2029 ^10.00 23-JUL-2030 ^12.1493 18-JUL-2034

Issue Date

Coupon (%)

Outstanding Value (N'bn)

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 20.00 100.00 300.00 351.30 233.90 371.93 605.31 679.99 75.00 150.00 200.00 591.57 1075.92

TOTAL OUTSTANDING VALUE

5,816.44

TOTAL MARKET CAPITALISATION

5,970.75

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

0.78 1.47 1.72 1.82 2.56 3.64 3.96 4.27 6.23 8.35 13.06 13.54 14.04 14.71 18.70

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

5.90 9.89 10.23 10.28 10.71 11.16 11.30 11.03 11.84 11.69 12.88 13.01 13.15 12.42 12.88

5.71 9.78 10.13 10.19 10.65 11.07 11.19 10.95 11.78 11.64 12.84 12.96 13.09 12.37 12.83

105.33 106.97 99.39 98.47 99.95 114.12 86.57 114.97 119.60 113.12 113.18 96.70 70.56 83.79 94.85

105.48 107.12 99.54 98.62 100.10 114.42 86.87 115.27 119.90 113.42 113.48 97.00 70.86 84.09 95.15

5771.438936

Issue Date

Coupon (%)

03-Apr-12

17.25

#

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

Risk Premium (%)

Valuation Yield (%)

Modelled Price

1.80

03-Apr-17

0.78

2.94

8.85

106.19

Agency Bonds Nil

17.25 FMB II 03-APR-2017

FMBN

TOTAL OUTSTANDING VALUE

1.80

TOTAL MARKET CAPITALISATION

1.91

Sub-National Bonds BBB+/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

2.60

30-Jun-16

0.40

4.46

8.83

101.94

A/Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

3.96

30-Jun-16

0.41

3.48

7.93

102.94

A+/Agusto; ‡ /GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

1.45

1.00

10.76

98.99

13.75

21.24

30-Jun-17

0.94

1.00

7.32

105.65

‡ /Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

A-/Agusto

EDO

14.00 EDO 31-DEC-2017

31-Dec-10

14.00

25.00

31-Dec-17

2.15

1.00

11.47

104.67

‡ /Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

27.25

30-Sep-18

1.75

1.00

11.24

104.15

A-/Agusto; A-/GCR

NIGER

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

4.91

04-Oct-18

1.76

1.00

11.25

104.17

‡ /Agusto; A-/GCR†

*EKITI

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

12.40

09-Dec-18

1.73

2.21

12.44

102.99

A-/Agusto

*NIGER

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

9.21

12-Dec-18

1.73

4.78

15.01

98.52

A-/Agusto; A-/GCR

*ONDO

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

24.44

14-Feb-19

1.92

1.00

11.33

106.78

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 23.75

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

2.35 4.04 2.31

2.02 1.00 1.00

12.60 12.30 11.56

105.53 106.84 106.17

BBB-/Agusto

*OSUN

14.75 OSUN II 10-OCT-2020

10-Oct-13

14.75

10.12

10-Oct-20

2.85

3.37

14.26

101.07

Aa-/Agusto; ‡ /GCR

LAGOS

13.50 LAGOS 27-NOV-2020

27-Nov-13

13.50

87.50

27-Nov-20

5.06

1.03

12.63

103.14

A-/Agusto; BBB+/DataPro

KOGI

15.00 KOGI 31-DEC-2020

31-Dec-13

15.00

5.00

31-Dec-20

5.15

2.39

14.04

103.37

‡ /Agusto

*EKITI

14.50 EKITI II 31-DEC-2020

31-Dec-13

14.50

4.30

31-Dec-20

3.00

1.00

11.98

105.89

A-/GCR

*NASARAWA

15.00 NASARAWA 06-JAN-2021

06-Jan-14

15.00

4.31

06-Jan-21

3.02

1.00

12.00

107.08

A-/Agusto

*BAUCHI

15.50 BAUCHI 9-DEC-2021

09-Dec-14

15.50

14.37

09-Dec-21

3.97

1.52

12.82

101.61

16.50

7.68

16-Feb-22

3.83

3.67

14.97

104.05

A-/Agusto

*OYO

16.50 OYO 16-FEB-2022

17-Feb-15

Bbb-/Agusto

*BENUE

16.50 BENUE 27-FEB-2022

27-Feb-15

16.50

4.75

27-Feb-22

3.85

1.00

12.30

112.01

Bbb+/Agusto

*PLATEAU

17.50 PLATEAU 30-MAR-2022

30-Mar-15

17.50

27.10

30-Mar-22

4.03

2.52

13.81

104.32

A-/Agusto A-/GCR

KOGI *CROSS RIVER

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

13.97

112.52

27-May-15

17.00

8.00

27-May-22

3.96

3.04

14.34

107.40

481.74 501.46

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Corporate Bonds BBB-/Agusto

*FLOURMILLS

12.00 FLOURMILLS 9-DEC-2015

09-Dec-10

12.00

9.38

09-Dec-15

0.09

1.00

3.13

100.79

BB/GCR

*CHELLARAMS

14.00 CHELLARAMS 06-JAN-2016

06-Jan-11

14.00

0.22

06-Jan-16

0.17

2.63

5.26

101.36

A+/Agusto; A-/GCR

NAHCO

13.00 NAHCO 29-SEP-2016

29-Sep-11

13.00

15.00

29-Sep-16

0.90

1.00

7.21

104.92

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

0.97 1.09 1.45 1.66 1.90

1.34 1.00 6.31 1.08 2.38

7.73 8.12 16.07 11.28 12.70

105.96 108.03 100.51 107.69 100.46

18.00 C&I LEASING 30-NOV-2017

***LCRM UBA

BBB-/GCR

30-Nov-12

18.00

0.56

30-Nov-17

1.13

1.88

9.31

109.83

MPR+7.00 DANA 9-APR-2018

09-Apr-11

16.00

4.50

09-Apr-18

1.42

3.15

12.71

104.06

A-/DataPro†; B+/GCR

*TOWER

#

MPR+7.00 TOWER 9-SEP-2018

09-Sep-11

18.00

2.18

09-Sep-18

1.59

1.00

11.15

109.49

AAA/DataPro†; A/GCR

*TOWER#

MPR+5.25 TOWER 9-SEP-2018

09-Sep-11

16.00

0.60

09-Sep-18

1.59

1.00

11.15

106.71

A+/Agusto; A/GCR

UBA

14.00 UBA II 30-SEP-2018

30-Sep-11

14.00

35.00

30-Sep-18

2.90

1.00

11.92

104.94

BBB+/Agusto; BBB+/GCR

*LA CASERA *CHELLARAMS#

15.75 LA CASERA 18-OCT-2018

18-Oct-13

15.75

1.80

18-Oct-18

1.70

5.27

15.48

100.33

MPR+5.00 CHELLARAMS II 17-FEB-2019

17-Feb-12

18.00

0.32

17-Feb-19

1.78

6.11

16.37

102.26

*C & I LEASING *DANA#{r}

Nil

BBB-/DataPro†; BB/GCR

#{r}

Nil

*DANA

16.00 DANA II 1-APR-2019

01-Apr-14

16.00

4.50

01-Apr-19

2.15

3.28

13.75

103.96

A+/Agusto; A-/GCR

NAHCO

15.25 NAHCO II 14-NOV-2020

14-Nov-13

15.25

2.05

14-Nov-20

5.02

1.00

12.59

109.69

BBB/GCR

FCMB

14.25 FCMB I 20-NOV-2021

20-Nov-14

14.25

26.00

20-Nov-21

6.04

1.64

13.76

101.97

30-Dec-14

16.45

30.50

30-Dec-21

6.15

1.93

14.06

109.55

UBA

16.45 UBA I 30-DEC-2021

BBB/GCR

FIDELITY

16.48 FIDELITY 13-MAY-2022

13-May-15

16.48

30.00

13-May-22

6.52

3.90

16.09

101.53

A/GCR

STANBIC IBTC

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

30-Sep-14

16.29

0.10

30-Sep-24

8.90

1.00

13.00

117.00

A/GCR

STANBIC IBTC

13.25 STANBIC IB 30-SEP-2024

30-Sep-14

13.25

15.44

30-Sep-24

8.90

1.00

13.00

101.25

AAA/GCR

*NMRC

14.90 NMRC 29-JUL-2030

29-Jul-15

14.90

7.98

29-Jul-30

9.93

1.00

13.19

108.89

A/GCR

TOTAL OUTSTANDING VALUE

507.06

TOTAL MARKET CAPITALISATION

530.41

Supranational Bond AAA/S&P

IFC

10.20 IFC 11-FEB-2018

11-Feb-13

10.20

12.00

11-Feb-18

2.27

1.00

9.95

100.46

Aaa/Moody's; AAA/S&P

AfDB

11.25 AFDB 1-FEB-2021

10-Jul-14

11.25

12.95

01-Feb-21

3.49

1.00

12.30

97.12

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE

24.95 24.63

TOTAL MARKET CAPITALISATION Rating/Agency

Issuer

Description

Issue Date

Coupon (%)

Outstanding Value ($mm)

Maturity Date

Bid Yield (%)

Offer Yield (%)

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

6.85

6.60

99.57

100.63

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

5.39

4.98

99.35

100.34

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

7.27

7.08

94.77

95.88

FGN Eurobonds

Prices & Yields

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

FGN

BB-/Fitch; BB-/S&P

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,468.45

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

5.52

5.52

101.00

101.00

B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

8.20

8.20

98.50

98.50

B/Fitch; B/S&P

FIDELITY BANK PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

16.02

14.89

81.80

83.81

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

8.01

8.01

94.75

94.75

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

8.73

8.73

92.75

92.75

B/Fitch; B/S&P

DIAMOND BANK PLC

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

11.36

10.68

92.57

94.42

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

FIRST BANK PLC ACCESS BANK PLC II FIRST BANK LTD

8.25 AUG 07, 2020 9.25/6M USD LIBOR+7.677 JUN 24, 2021 8.00/2Y USD SWAP+6.488 JUL 23 2021

07-Aug-13 24-Jun-14 23-Jul-14

8.25 9.25 8.00

300.00 400.00 450.00

07-Aug-20 24-Jun-21 23-Jul-21

13.60 12.48 12.34

13.60 11.91 12.34

81.25 87.32 82.00

81.25 89.42 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

3,297.23

**Treasury Bills^ DTM 20 27 34 41 48 62 69 76

FIXINGS Maturity 26-Nov-15 3-Dec-15 10-Dec-15 17-Dec-15 24-Dec-15 7-Jan-16 14-Jan-16 21-Jan-16

Bid Discount (%) 1.84 2.01 2.85 1.53 2.58 2.36 3.85 3.38

Offer Discount (%) 1.59 1.76 2.60 1.28 2.33 2.11 3.60 3.13

Bid Yield (%) 1.84 2.02 2.86 1.53 2.58 2.37 3.88 3.40

Money Market

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 0.9658 13.1161 14.9446 16.5550

Tenor

Rate (%)

OBB

0.58

O/N Tenor Call 1M

1.04

REPO

Rate (%) 3.00 9.00

Foreign Exchange (Spot & Forwards) Tenor

Bid ($/N)

Offer ($/N)

Spot 7D 14D 1M 2M 3M

198.13 199.30 200.64 201.19 202.39 207.90

198.23 199.61 200.97 201.57 202.90 208.58

FGN Bonds

Price

Rating/Agency

Issuer

NA

NA

NEW TELEGRAPH MONDAY, NOVEMBER 9, 2015

Description

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 20.00 100.00 300.00 351.30 233.90 371.93 605.31 679.99 75.00 150.00 200.00 591.57 1075.92

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

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

0.78 1.47 1.72 1.82 2.56 3.64 3.96 4.27 6.23 8.35 13.06 13.54 14.04 14.71 18.70

5,970.75

Description

Issue Date

TRANSASCTIONS

I

#{r}

A-/DataPro†; B+/GCR

*TOWER#

MPR+7.00 TOWER 9-SEP-2018

AAA/DataPro†; A/GCR

*TOWER#

09-Sep-11

18.00

MPR+5.25 TOWER 9-SEP-2018

09-Sep-11

16.00

0.60

A+/Agusto; A/GCR

UBA

14.00 UBA II 30-SEP-2018

30-Sep-11

14.00

35.00

BBB+/Agusto; BBB+/GCR

*LA CASERA *CHELLARAMS#

15.75 LA CASERA 18-OCT-2018

18-Oct-13

BBB-/DataPro†; BB/GCR

MPR+5.00 CHELLARAMS II 17-FEB-2019

17-Feb-12

18.00

0.32

Nil

*DANA#{r}

16.00 DANA II 1-APR-2019

01-Apr-14

16.00

4.50

A+/Agusto; A-/GCR

NAHCO

15.25 NAHCO II 14-NOV-2020

14-Nov-13

BBB/GCR

FCMB

14.25 FCMB I 20-NOV-2021

20-Nov-14

RT Briscoe reports N1.4b Q3 loss

R

.T Briscoe Nigeria billion during the pe- company’s performance.

16.45 UBA I 30-DEC-2021 30-Dec-14 UBA FIDELITY 13-MAY-2022 BBB/GCR 13-May-15 Plc sustainedFIDELITY its riod under 16.48 review from RT Briscoe recently 182D T.bills+1.20 STANBIC IA 30-SEP-2024 A/GCR 30-Sep-14 STANBIC IBTC loss position as it IBTC joined the list of 30-Sep-14 autoN14.866 billion in 2014.

13.25 STANBIC IB 30-SEP-2024 A/GCR STANBIC 14.90 NMRC 29-JUL-2030 AAA/GCR *NMRC posted a decline in profit The company had mobile companies29-Jul-15 set TOTAL OUTSTANDING VALUE after tax of N1.447 billion to assemble vehicles in during the half year reTOTAL MARKET CAPITALISATION for the Q3 ended Septem- ported a loss after tax Nigeria.

Supranational Bond ber 30, 2015. of N961.66210.20million as The firm said it11-Feb-13 had IFC 11-FEB-2018 AAA/S&P IFC 11.25 AFDB 1-FEB-2021 Aaa/Moody's; AAA/S&P 10-Jul-14 Key extracts of AfDB the against N115.746 million signed a Memorandum of TOTAL OUTSTANDING accounts for theVALUE third in 2014, representing Understanding with BYD TOTAL MARKET CAPITALISATION quarter at the Nigerian 730.83 percentage decline. Automotive Manufacturing of China for the proStockRating/Agency Exchange (NSE) Issuer The company’s reve-Description Issue Date showed drop in growths nue also declined by 36.33 duction of Chinese brand FGN Eurobonds in key performance in- per cent from N10.080 bil- of vehicles in the country.

6.75 JAN 28, 2021 BB-/Fitch; B+/S&P 07-Oct-11 dices, damping strong lion in 2014 to N6.418 bil“We are pleased to note BB-/Fitch; FGN 5.13 JUL 12, 2018 12-Jul-13 lion during the half year that the Federal Governperformance outlook of BB-/S&P BB-/Fitch; 6.38 JUL 12, 2023 has recognised 2015. ment and the company .

12-Jul-13 BB-/S&P Following the less im- registered RT Briscoe R.TOUTSTANDING Briscoe recorded TOTAL VALUE CAPITALISATION aTOTAL loss MARKET after tax of N1.447 pressive performance Nigeria Plc as a manubillion at the third quar- that culminated in loss- facturer/assembler of Corporate Eurobonds ter of the year from aGTBANK loss PLCes for the group in 2013 vehicles in Nigeria,” the 7.50 MAY 19, 2016 B+/Fitch; B+/S&P I 19-May-11 7.25 JUL 25, 2017 said in a statement.

B+/S&P PLC 25-Jul-12 position of N300.705ACCESS mil- BANK financial year, the board firm 6.88 MAY 09, 2018 B/Fitch; B/S&P FIDELITY BANK PLC lion in 2014. of directors had in 2014 About 23 local 09-May-13 auto 6.00 NOV 08, 2018 B+/Fitch; B+/S&P GTBANK PLC 08-Nov-13 firms have in the22-Apr-14 last TheBB-/S&P company’s ZENITH rev- BANKreceived shareholders’ 6.25 APR 22, 2019 B+/Fitch; PLC 8.75 May 21, 2019 B/Fitch; B/S&P DIAMOND BANK PLC 21-May-14 approval to raise N10 enue however, declined one year signified their 8.25 AUG 07, 2020 B-/Fitch; B/S&P FIRST BANK PLC 07-Aug-13 billion to enhance the by 34.48 per cent to N9.740 intention to start assem9.25/6M USD LIBOR+7.677 JUN 24, 2021 B-/Fitch; B/S&P ACCESS BANK PLC II 24-Jun-14 FIRST BANK LTD

B-/S&P

ECOBANK NIG. LTD

8.00/2Y USD SWAP+6.488 JUL 23 2021

1.80

23-Jul-14

TOTAL OUTSTANDING VALUE TOTAL MARKET The DQL containsCAPITALISATION data relating to, amongst

14-Aug-14

#

Risk Premium

Valuation Yield

Modelled

82.00

2.05

14.25

26.00

8.00

450.00

23-Jul-21

12.34

12.34

82.00

250.00

14-Aug-21

12.23

11.76

84.88

8.75

33

Avg. Life/TTM

15.25

bling 16.45 different catego30.50 30.00 ries of16.48 vehicles in the 16.29 0.10 country, 13.25 according 15.44 to 14.90 7.98 the National Automotive 507.06 Council.

530.41 The Federal Government in September12.00 2013 10.20 11.25 announced a new12.95 auto 24.95 policy direction to dis24.63 courage the importation Outstanding Value of new and Coupon (%) used vehicles ($mm) with the imposition of a 70 per cent import tariff 6.75 500.00 on cars. The tariff was 22 5.13 per cent the cost of500.00 each car before the policy be6.38 500.00 came effective. 1,500.00 1,468.45 RT Briscoe said that the process of signing the MoU Chi7.50 with the 500.00 7.25 350.00 nese auto manufacturer 6.88 300.00 was completed in Abuja 6.00 400.00 in March visit 6.25 during the 500.00 200.00 of the8.75 BYD team to the 8.25 300.00 country .

9.25 400.00

FMDQ Daily Quotations List

8.75 AUG 14, 2021

105.48 107.12 99.54 98.62 100.10 114.42 86.87 115.27 119.90 113.42 113.48 97.00 70.86 84.09 95.15

(Yrs) (%) Price at the conference. irstBank Sus(%) tainability CenOther global leaders 03-Apr-17 0.78 2.94 8.85 106.19 tre is collabo- who will participate at rating with Lagos the conference include, Business School Dr. James Mwangi - Key(LBS) for 0.40 the second note Speaker and MD/ 30-Jun-16 4.46 8.83 101.94 30-Jun-16 0.41 3.48 7.93 102.94 annual international CEO of Equity Bank, 19-Apr-17 1.45 1.00 10.76 98.99 Kenya, Sangu sustainability confer30-Jun-17 0.94 1.00 7.32and Dr 105.65 31-Dec-17 2.15 1.00 11.47 104.67 Delle Guest speaker ence in Lagos.

30-Sep-18 1.75 1.00 11.24 104.15 conference, and CEO, Palm 04-Oct-18 The 1.76 1.00 11.25 Golden 104.17 09-Dec-18 1.73 2.21 12.44 102.99 themed, “SustainabilInvestments.

12-Dec-18 1.73 4.78 15.01 98.52 14-Feb-19 1.92 Creation 1.00 11.33in the 106.78 ity and Value Also list of 02-Oct-19 2.35 12.60 105.53 in Africa,” is designed 2.02 to panelists Juan 22-Nov-19 4.04 1.00 12.30 are Prof.

106.84 12-Dec-19 2.31 1.00 11.56- Vice-Chancel106.17 stimulate sustainability Elegido 10-Oct-20 2.85 3.37 14.26 101.07 principles as key compolor, Pan Atlantic Univer27-Nov-20 5.06 1.03 12.63 103.14 31-Dec-20 5.15 2.39 14.04 103.37 sity; Dr . Chris Ogbechie nents of business devel31-Dec-20 3.00 1.00 11.98 105.89 opment and continuity .

Head, Department 06-Jan-21 3.02 1.00 12.00 107.08 of 09-Dec-21 3.97 1.52 12.82 101.61 Strategy & EntrepreThe conference, 16-Feb-22 3.83 3.67 14.97 104.05 27-Feb-22 3.85 1.00 12.30 LBS; Dr 112.01 which is scheduled for neurship, Ola30-Mar-22 4.03 2.52 13.81 104.32 November 12, 2015, will jobi Makinwa, Chief, 31-Mar-22 6.46 1.79 13.97 112.52 27-May-22 3.96 practical 3.04 14.34 107.40 Transparency & Antiexpound on insights in minimising corruption Initiative, business risks, reduc- UN Global Compact; Bola 3.13 Adeeko - 100.79 Head, ing cost, increasing rev09-Dec-15 0.09 1.00 06-Jan-16 2.63 5.26 101.36 DiCorporate Services enues and0.17enhancing 29-Sep-16 0.90 1.00 7.21 brand reputation for vision, Nigerian104.92 Stock 25-Oct-16 0.97 1.34 7.73 105.96 08-Dec-16 1.00 8.12 businesses.1.09 Exchange; Ndidi108.03 Nwun19-Apr-17 1.45 6.31 16.07 100.51 to 1.08 a eli - Founder , Leap107.69 Africa 06-Jul-17 According 1.66 11.28 30-Sep-17 1.90 2.38 12.70 100.46 statement from the and CEO, AACE Foods 30-Nov-17 1.13 1.88 9.31 109.83 management, particiLtd; Tayo - CEO 09-Apr-18 1.42 3.15 12.71 Oviosu 104.06 09-Sep-18 1.59 1.00 11.15 pants’ profiles include Pagatech; Kola 109.49 Masha 09-Sep-18 1.59 1.00 11.15 106.71 CEOs and2.90top execu- Managing Director, 30-Sep-18 1.00 11.92 104.94 18-Oct-18 1.70 5.27 15.48 100.33 tives of corporations, Doreo16.37 Partners;102.26 Nneka 17-Feb-19 1.78 6.11 institutional Okekearu - Deputy 01-Apr-19 2.15 investors, 3.28 13.75 103.96 Di14-Nov-20 1.00 12.59 109.69 academia,5.02 directors/ rector, Enterprise De20-Nov-21 6.04 1.64 13.76 101.97 heads of foundations, velopment Centre, PAU; 30-Dec-21 6.15 1.93 14.06 109.55 13-May-22 6.52 3.90 16.09 101.53 government agencies and Dr Tunji Adegbesan 30-Sep-24 8.90 1.00 13.00 117.00 and NGOs 8.90 operating in – Founder 30-Sep-24 1.00 13.00 Gidi Mobile 101.25 29-Jul-30 9.93 1.00 13.19 the social space as well According to108.89 Onaas business regulators sanya, the bank remains and top executives re- committed to the ideas sponsible for CSR and of corporate citizenship 11-Feb-18 2.27 1.00 9.95 100.46 01-Feb-21 3.49 functions.

1.00 12.30 97.12 sustainability and sustainable busiThese key decision nesses practices. makers would be shar“Consistent with ing the bank’s as a Maturity Date insights Bid Yieldon (%) many Offer Yield (%) Bid Price position Offer Price prominent and endur- sustainability thought Prices & Yields ing businesses that have leader, we established 28-Jan-21 6.85 6.60 99.57 100.63 embraced the practice the FirstBank sustain12-Jul-18 5.39 4.98 99.35 100.34 of sustainability and ability center in parthow local businesses nership with the Lagos 12-Jul-23 7.27 7.08 94.77 95.88 can take the lead in pro- Business School to serve moting sustainable busi- as a specialised center that focuses on knowlnesses. of edge 101.00 creation, 101.00 knowl19-May-16The GMD/CEO 5.52 5.52 25-Jul-17 8.20 98.50 98.50and FirstBank,8.20Bisi Onaedge dissemination 02-May-18 16.02 14.89 81.80 83.81 sany, and the Dean, Laknowledge application 08-Nov-18 8.01 8.01 94.75 94.75 gos Business . of sustainability related 22-Apr-19 8.73School, Dr 8.73 92.75 92.75 21-May-19 11.36 10.68 92.57 94.42 Enase Okonedo, would issues, amongst other 07-Aug-20 13.60 13.60 81.25 81.25 play host to12.48 participants things.

24-Jun-21 11.91 87.32 89.42

2.18

15.75

A/GCR

B-/Fitch; B/S&P

F

Maturity Date

recorded in the preced17.25 1.80 ing week.

1.80 Also traded last 1.91 week were a total of 7,291 units of Exchange Traded 14.00 2.60 15.50 (ETPs) valued 3.96 Products 10.00 57.00 at N437,490.20 executed 13.75 21.24 14.00 in 35 deals compared25.00 with 14.00 27.25 a total14.00 of 330,708 4.91 units 12.40 valued14.50 at N1.616 million 14.00 9.21 15.50 24.44 in transacted last week 15.50 13.87 53 deals.

14.50 80.00 14.75was no transac23.75 There 14.75 10.12 tion recorded on bonds 13.50 87.50 15.00 5.00 during14.50 the week. However, 4.30 a total 15.00 of 400 units of4.31 Fed15.50 14.37 eral Government Bonds 16.50 7.68 valued16.50 at N423,765.354.75 were 17.50 27.10 transacted the previous 17.00 3.00 17.00 week in one deal. 8.00 481.74 Additional ordinary 501.46 shares of 10,134,248 units of Seplat Petroleum De12.00 9.38 14.00 0.22Plc velopment Company 13.00 (SEPLAT), which 15.00 arose 14.25 5.53 112.22 from0.00/16.00 a long-term incen0.00/16.50 116.70 tive scheme of the66.49 com0.00/16.50 20.00 pany, 13.00 were admitted to 18.00 0.56 trading on November 16.00 4.50 5,

ated 0.02 per cent to close was occupied by oil and 17.25 FMB II 03-APR-2017 03-Apr-12 the week at 29,175.35 and gas with 62.711 million shares worth N2.702 bilAdditional TOTAL MARKET CAPITALISATION N10.029 trillion respectively . lion in 1,688 deals.

Sub-National ordinary Bonds shares of Similarly,14.00 all other indiTrading in the30-Jun-11 top BBB+/Agusto *BENUE BENUE 30-JUN-2016 30-Jun-09 A/Agusto *IMO IMO 30-JUN-2016 10,134,248 units of – ces finished 15.50 lower during three equities namely 19-Apr-10 10.00 LAGOS 19-APR-2017 A+/Agusto; ‡ /GCR LAGOS Access Bank Plc, Zenith 30-Jun-10 13.75 exception BAYELSA 30-JUN-2017 ‡ /Agusto *BAYELSA the week with Seplat Petroleum EDO 31-Dec-10 14.00 EDO 31-DEC-2017 A-/Agusto of NSE Premium, NSE 30, International Bank Plc 30-Sep-11 14.00 DELTA 30-SEP-2018 ‡ /Agusto; A+/GCR *DELTA Development AfNSE Insurance, NSEII 4-OCT-2018 Oil/ and United Bank for 04-Oct-11 14.00 NIGER A-/Agusto; A-/GCR NIGER 09-Dec-11 14.50 EKITI 09-DEC-2018 ‡ /Agusto; A-/GCR† *EKITI Gas, and NSE Pension in- rica Plc (measured by 12-Dec-13 14.00 NIGER III 12-DEC-2018 A-/Agusto *NIGER 14-Feb-12 ONDOASeM 14-FEB-2019 volume) accounted A-/Agusto; A-/GCR *ONDO for dices, while15.50 NSE 02-Oct-12 GOMBE 02-OCT-2019 BBB+/Agusto; A-/GCR *GOMBE Index closed15.50 flat.

Stories Chris Ugwu 14.50 LAGOS 22-NOV-2019 1.276 billion shares worth Aa-/Agusto;by ‡ /GCR LAGOS 22-Nov-12 14.75 OSUN 12-DEC-2019 N8.340 billion in 12-Dec-12 BBB-/Agusto; BBB+/GCR *OSUN The financial services 2,782 10-Oct-13 14.75 OSUN II 10-OCT-2020 BBB-/Agusto *OSUN 65.45 nvestors industry (measured by deals, contributing27-Nov-13 13.50 LAGOS 27-NOV-2020 Aa-/Agusto; ‡ /GCR in the NigeLAGOS 31-Dec-13 15.00 KOGI 31-DEC-2020 A-/Agusto; BBB+/DataPro KOGI volume) led the activity rian capital market per cent and 48.11 per cent 31-Dec-13 14.50 EKITI II 31-DEC-2020 ‡ /Agusto *EKITI chart with 15.00 1.714 billion traded a turnover of to the total equity 06-Jan-14 turnNASARAWA 06-JAN-2021 A-/GCR *NASARAWA 09-Dec-14 15.50 BAUCHI 9-DEC-2021 A-/Agusto *BAUCHI 1.949 billion shares, shares valued at N10.770 over volume and value 17-Feb-15 16.50 OYO 16-FEB-2022 A-/Agusto *OYO 27-Feb-15 16.50 BENUE Bbb-/Agusto *BENUE worth N17.336 billion in billion traded in 27-FEB-2022 9,378 respectively.

30-Mar-15 17.50 PLATEAU 30-MAR-2022 Bbb+/Agusto *PLATEAU 15,762 deals last week in deals; thus contributing Twenty-four equities 01-Apr-15 17.00 KOGI II 31-MAR-2022 A-/Agusto KOGI 17.00 CROSS A-/GCR *CROSS RIVER 87.93 per cent and RIVER 62.1327-MAY-2022 contrast to a total of 1.358 appreciated in price27-May-15 durTOTAL OUTSTANDING VALUE billion shares valued at per cent to the total equi- ing the week, higher than TOTAL MARKET CAPITALISATION N14.722 billion that ex- ty turnover volume and 12 equities of the precedCorporate Bonds changed hands the previvalue respectively . ing week. Forty-three 12.00 FLOURMILLS 9-DEC-2015 BBB-/Agusto 09-Dec-10 *FLOURMILLS CHELLARAMS BB/GCR 06-Jan-11 ous week in 14,772 deals. equities depreciated in followed by06-JAN-2016 *CHELLARAMS This was14.00 13.00 NAHCO 29-SEP-2016 A+/Agusto; A-/GCR 29-Sep-11 NAHCO At the close of trading, price, lower than 51 eqconglomerates industry 14.25 FSDH 25-OCT-2016 A-/Agusto 25-Oct-13 FSDH 0.00/16.00 08-DEC-2016 Nil NSE All-Share Index 09-Dec-11 the with a turnover ofLCRM 73.433 uities of the preceding ***LCRM 0.00/16.50 LCRM II 19-APR-2017 Nil 20-Apr-12 week, while 123 equities depreciated 0.01 per cent million shares worth 0.00/16.50 LCRM III 06-JUL-2017 Nil 06-Jul-12 13.00 UBA 30-SEP-2017 A/GCR 30-Sep-10 UBA remained unchanged, N173.733 million in 908 while market capitalisa18.00 C&I LEASING 30-NOV-2017 BBB-/GCR 30-Nov-12 *C & I LEASING lower than 127 equities deals. The MPR+7.00 thirdDANA place tion of equities appreci9-APR-2018 09-Apr-11 Nil *DANA FMBN

TOTAL OUTSTANDING VALUE

105.33 106.97 99.39 98.47 99.95 114.12 86.57 114.97 119.60 113.12 113.18 96.70 70.56 83.79 94.85

5771.438936

Outstanding Value (N'bn)

Coupon (%)

Agency Bonds

Nil

Offer Price

5.71 9.78 10.13 10.19 10.65 11.07 11.19 10.95 11.78 11.64 12.84 12.96 13.09 12.37 12.83

FirstBank partners LBS on business sustainability

Investors stake N17.3bn in shares 5,816.44

TOTAL MARKET CAPITALISATION

Issuer

Bid Price

5.90 9.89 10.23 10.28 10.71 11.16 11.30 11.03 11.84 11.69 12.88 13.01 13.15 12.42 12.88

Business | Financial Market News

TOTAL OUTSTANDING VALUE

Rating/Agency

Bid Yield (%)

Offer Yield (%)

3,650.00

86.63

6-Nov-15

other things, market and model prices, rates of foreign exchange products, fixed income securities and3,297.23 instruments in the financial market (the “Information”). The Information does not constitute or investment advice. We attempt to ensure the Information is accurate; however, the Information is provided “AS FIXINGS IS” and on an “AS AVAILABLE” basis and may not be accurate or up to date. We do not guarantee Money Market Foreign Exchange (Spot & Forwards) DTM Maturity Bid Discount (%) Offer Discount Bid Yieldneither (%) Tenor (%)of the Information. the accuracy, timeliness, completeness, performance or fitness for a particular purpose of any of(%)the Information, do we accept liability for the results of any action taken on theRate basis NIBOR

professional, financial **Treasury Bills^ 20 27 34 41 48 62 69 Rating/Agency 76 83 90 97 104 111 118 132 139 146 153 160 167 NA 174 181 202 209 237 251 272 300 335

26-Nov-15 3-Dec-15 10-Dec-15 17-Dec-15 24-Dec-15 7-Jan-16 14-Jan-16 Issuer 21-Jan-16 28-Jan-16 4-Feb-16 11-Feb-16 18-Feb-16 25-Feb-16 3-Mar-16 17-Mar-16 24-Mar-16 31-Mar-16 7-Apr-16 14-Apr-16 21-Apr-16 NA 28-Apr-16 5-May-16 26-May-16 2-Jun-16 30-Jun-16 14-Jul-16 4-Aug-16 1-Sep-16 6-Oct-16

FGN Bonds

349

TOTAL OUTSTANDING VALUE

20-Oct-16

1.84 2.01 2.85 1.53 2.58 2.36 3.85 Description 3.38 3.60 3.09 13.05 16-AUG-2016 2.61 ^15.10 27-APR-2017 3.40 3.91 9.85 27-JUL-2017 4.78 9.35 31-AUG-2017 4.43 3.61 10.70 30-MAY-2018 3.70 ^16.00 29-JUN-2019 4.62 7.00 23-OCT-2019 4.69 4.52 ^15.54 13-FEB-2020 4.76 ^16.39 27-JAN-2022 5.05 ^14.20 14-MAR-2024 4.87 4.81 15.00 28-NOV-2028 4.63 12.49 22-MAY-2029 5.41 6.37 8.50 20-NOV-2029 5.63 ^10.00 23-JUL-2030 6.10

1.59 1.76 2.60 1.28 2.33 2.11 3.60 Issue 3.13Date 3.35 2.84 16-Aug-13 2.36 27-Apr-12 3.15 3.66 27-Jul-07 4.53 31-Aug-07 4.18 3.36 30-May-08 3.45 29-Jun-12 4.37 23-Oct-09 4.44 4.27 13-Feb-15 4.51 27-Jan-12 4.80 14-Mar-14 4.62 4.56 28-Nov-08 4.38 22-May-09 5.16 6.12 20-Nov-09 5.38 23-Jul-10 5.85

^12.1493 18-JUL-2034 5.89

18-Jul-14 5.64

1.84 2.02 2.86 1.53 2.58 2.37 3.88 Coupon 3.40 (%) 3.62 3.12 13.05 2.62 15.10 3.43 3.95 9.85 4.86 9.35 4.50 3.66 10.70 3.75 16.00 4.71 7.00 4.78 4.62 15.54 4.87 16.39 5.17 14.20 5.00 4.95 15.00 4.77 12.49 5.62 6.68 8.50 5.91 10.00 6.46

Bonds

12.1493 6.24

Tenor O/N 1M 3M 6M

Outstanding Value (N'bn) 581.39

Rate (%) 0.9658 13.1161 14.9446 16.5550

0.58

O/N

1.04

REPO

Maturity Date

NITTY

Tenor 480.13 1M 2M 20.00 3M 100.00 6M 9M 300.00 12M 351.30

OBB

16-Aug-16

Rate (%) 27-Apr-17 2.4583 3.6271 27-Jul-17 4.5505 31-Aug-17 6.2002 7.3130 30-May-18 7.5633 29-Jun-19

233.90 23-Oct-19 371.93 NIFEX 13-Feb-20 605.31 27-Jan-22 Current Price ($/N) 14-Mar-24 BID($/N) 679.99 199.0000 OFFER ($/N) 199.1000 75.00 28-Nov-28 150.00 22-May-29 200.00 20-Nov-29 591.57 23-Jul-30 1075.92 18-Jul-34

Tenor Call TTM 1M (Yrs) 3M 6M

Rate (%) 3.00

Bid9.00 Yield (%) 11.00 14.00

*for the Amortising bonds, the average life is calculated and not the duration

Rating/Agency

Issuer

Description

Issue Date

FMBN

Modified Duration Buckets

TOTAL OUTSTANDING VALUE

TOTAL MARKET CAPITALISATION Sub-National Bonds

<3

105.33 105.48 106.97 107.12 99.39 99.54 NA :Not Applicable 98.47 98.62 ^ : Market Prices # : Floating Rate Bond 99.95 100.10 ***: Deferred coupon bonds 114.12 114.42 86.87 ‡ : Bond86.57 rating under review †: Bond 114.97 rating expired 115.27 N/A :Not Available 119.60 119.90 {r} :Issuer in receivership 113.12 113.42 NGC: Nigeria-German Company 113.18 113.48 UBA: United Bank for Africa 96.70 97.00 70.56 70.86 83.79 84.09 94.85 95.15

5771.438936

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

FMDQ FGN BOND INDEX

Agency Bonds Nil

Offer ($/N)

198.13 198.23 199.30 199.61 Price 200.97 200.64 201.19 201.57 202.39 202.90 Bid Price Offer 207.90 208.58Price 215.75 216.94 226.43 228.76

5,970.75

#

Risk Premium is a combination of credit risk and liquidity risk premiums **Exclusive of non-trading t.bills

Spot 7D 14D 1M 2M Yield Offer 3M (%) 6M 1Y

0.78 5.90 5.71 1.47 9.89 9.78 NOTE: 1.72 10.23 10.13 :Benchmarks 1.82 10.28 10.19 * :Amortising Bond µ :Convertible 2.56Bond 10.71 10.65 AMCON: Asset Management Corporation of Nigeria 3.64 11.16 11.07 FGN: Federal Government of Nigeria 3.96 11.30 11.19 FMBN: Federal Mortgage Bank of Nigeria IFC: International 4.27 Finance Corporation 11.03 10.95 LCRM: Local Contractors Receivables Management 6.23 11.84 11.78 NAHCO: Nigerian Aviation Handling Company 8.35 11.69 11.64 O/N: Overnight UPDC: UAC Property Development 13.06 12.88Company 12.84 WAPCO:West Africa Portland Cement Company 13.54 13.01 12.96 14.04 13.15 13.09 14.71 12.42 12.37 18.70 12.88 12.83

5,816.44

TOTAL MARKET CAPITALISATION

Bid ($/N)

Tenor

17.25 FMB II 03-APR-2017

Porfolio Market Value(Bn)

Total Outstanding Volume(Bn)

03-Apr-12 Weighting by

Outstanding Vol

17.25 Weighting

by Mkt Value

1.80

Bucket Weighting

1.80

0.20

03-Apr-17 % Exposure_ Mod_Duration

0.78

Implied Yield

# Risk Premium (%)

2.94 Implied Portfolio Price

Valuation Yield (%)

8.85

INDEX

Modelled Price

106.19 YTD Return (%)

914.52

831.43

20.00

21.48

10.67

142.6739

1,298.00

17.1641

1,920.74

1,657.23

39.87

45.11

1.91 0.40

8.15

3<5

35.46

11.63

143.6901

1,245.71

23.0240

>5

1,422.74

1,667.49

40.12

33.41

0.40

56.38

13.57

104.9597

1,265.40

25.6580

Market

4,258.00

4,156.16

100.00

100.00

1.00

100.00

12.65

127.9478

1,218.40

15.4677

BBB+/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

2.60

30-Jun-16

0.40

A/Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

A+/Agusto; ‡ /GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

‡ /Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

A-/Agusto

EDO

‡ /Agusto; A+/GCR

*DELTA

A-/Agusto; A-/GCR

NIGER

4.46

8.83

3.96

30-Jun-16

0.41

3.48

7.93

101.94

10.00

57.00

19-Apr-17

1.45

1.00

10.76

98.99

30-Jun-10

13.75

21.24

30-Jun-17

0.94

1.00

7.32

105.65

14.00 EDO 31-DEC-2017

31-Dec-10

14.00

25.00

31-Dec-17

2.15

1.00

11.47

104.67

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

27.25

30-Sep-18

1.75

1.00

11.24

104.15

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

4.91

04-Oct-18

1.76

1.00

11.25

104.17

102.94

34

Business | Interview

MONDAY, NOVEMBER 9, 2015 NEW TELEGRAPH

Govt policies creating revenue Chairman of Shipping Association of Nigeria (SAN), Mr. Val Usifoh, in this interview with Bayo Akomolafe, says that over 50 per cent of the country’s Roll on Roll off operations has been taken over by Republic of Benin port Can you explain why government policies are inconsistent in the shipping sector?

Well, shipping is a service that involves the movement of people’s goods from point A to point B. Those goods are driven by government’s economic policy. So, when people cannot predict exactly where to move their investment, it is difficult for you to programme the types of ships you have to bring to this part of the world. For example, Nigerian ports are very old. Apapa particularly, is much older than Tin Can, but you can find out that globally, we have much more bigger ships plying the waters, which means that we still need better port facilities. So, if government is not investing to develop new ports, it is a big challenge for people to plan how to do business and that is why if big shipping lines cannot bring their big ships here, it means that they have to transship the cargo at a certain point. Instead of bringing the whole bulk here, they depend on smaller ships to transport their cargoes. We need bigger channels, we need bigger facilities and we need to turn the ships round the clock 24/7. But there are other ports in the country which are not used. Calabar is there, Warri and the old Port Harcourt ports are there.

In the past, we used to have Sapele and Burutu ports. In my younger days, ships used to go to all these places. But these ports are idle now. It means that every importer has to find his way to Lagos until the inland dry ports are developed and there is a good railway system and until we can get other roads other than Western Avenue and Apapa-Oshodi to take goods out of the two ports. So, these are the issues. When you are sure that the economic environment is stable and friendly enough over a period of time, then you can make such huge investment. The ports are exclusive Federal Government domain.

So you cannot even develop any port without the approval or partnership with the Federal Government. These challenges, as I said, are tied to the policies that drive our economic development.

How has government policies affected the movement of

Usifoh

cargoes?

I don’t want to tie down to a specific issue because there is no aspect of the business web that doesn’t affect shipping.

Let’s take for instance, the problem we are facing now -the difficulty in getting dollars to import. People are not ordering for goods as much as they do because they can’t afford it and things are more expensive. So, the ships are not coming, there is less cargo coming in. But if it were easy to predict, that would be nice. Let me give you another example; the rice policy and the automotive policy. Take Grimaldi and the Port and Terminal Multi-services Limited (PTML) for instance. The car park used to be filled up to the brim. They used to have two ships here every day. But now, the bulk of the business has gone to Cotonou because government suddenly said no more tokunbo cars. Before this auto policy came into effect, 80 per cent of the tokunbo cars were coming to Nigeria and then may be 20 per cent to Cotonou and at that time, all the second hand trucks were coming to Nigeria.

What is the implication of these policies?

After this policy, over half of the second hand vehicle businesses were going to Cotonou.

Trucks are now going to Cotonou, which means that overall, Nigerian ports have lost about 50 per cent of these second hand vehicles’ trade. The fact that the Roll-on Roll-off business is down by at least 50 per cent currently, this company had to retrench almost half of its staff recently because there is no business.

You cannot plan when govern-

The bulk of the business has gone to Cotonou because government suddenly said no more tokunbo cars

ment doesn’t give you a longterm prospect of your business developing.

over the world. So, any strike is a big loss to the economy, including the ship owners too.

How has the recent truckers’ strike affected shipping in the port?

The port loses money through cargo throughput; Standard Organisation of Nigeria (SON), National Agency for Food and Drug Administration and Control (NAFDAC) loses money, everybody loses money. The truckers themselves lose money. The trouble with the truckers’ strike is that they have a good case, but they did not handle it well. Everybody sympathises with them.

The roads, for instance, from Coconut to Berger, have been under construction for some years. The stretch now from Trinity to Coconut has been abandoned. The truck terminal here has been under construction, nearly finished, but abandoned. I can’t tell you more. God knows when they touched it last. So, the truck owners had a good case, but they didn’t handle it properly. The problem they have created was a loss to everybody because it means that if a ship had estimated to spend two days or 24 hours in the port, it would end up staying longer. If the ship is tied down in a port, it cannot meet its other commitments in other ports. That is a loss to the ship owner. If a cargo is moving under contract, like our produce and semi-finished products or even finished products that we send out and if you miss your Bill of Lading time, there is a penalty. The buyer will impose the penalty clause. In as much as you are not the only supplier of these raw materials, the buyer will go to where they can get the cheapest. They have sources all

What are the current challenges facing shipping lines in the country?

Nigeria is a developing nation. The major challenge is too much officialdom in the port, but this is gradually coming down.

By officialdom, I mean every government agency in the past wants to be in the port. It is only now when discipline is being enthroned as a way of life that some of them are not physically present. Also, we are dealing with the challenge of too much paper work. The world has gone e-commerce, but there are some agencies and people that are still doing the manual work and manto-man contact. When I was the Chairman of the Port Industry Anticorruption Standing Committee, we tried to help the Nigerian Port Authority (NPA) and a few others to minimise physical contact, which is the main reason why there is corruption.

Inconsistency in government polices also affects the generality of the business environment in the maritime industry. The other challenge is infrastructural decay. The nation hasn’t put enough investment on a regular basis to upgrade our port and that is why Apapa and Tin Can are the major ports that are active even now that business is going down and because they are attractive, they are more secure than the others and the system seems to work better here.

Our customer’s cargoes spend more time in the ports because of the infrastructure decay. The international trade is at the low ebb in the country. Business is down for everybody and if it

Business | Interview

NEW TELEGRAPH MONDAY, NOVEMBER 9, 2015

35

for neighbouring ports –Usifoh The company: Shipping Association of Nigeria Founded 1996 Assest: Nil Membership:Shipping lines and shipping agencies

is down for the importers, it is down for the ship owners. It is a global trend, but we are feeling it more because we are an import-dependent economy. So, these are the major challenges facing shipping companies.

What are the port operators doing to address the issue of corruption in the system?

We started the Port Industry Anticorruption Standing Committee in 2001. I was going through my old laundry and I saw some T-shirts with the inscription ‘Don’t give, don’t take bribe,’ which we printed and we were giving out to people then.

The Nigerian Ports Authority (NPA) was running it as a solo crusade. NPA was financing the committee 100 per cent. We tried as much as possible to sensitise people, but corruption is attitudinal. Many people come into the port believing that once you go there, you have made money.

Nigeria Customs Service (NCS) wasn’t like this at that time, people were entering the Long Room, carrying documents all about and we advised them to move with the times and create platform where people don’t even need to enter the port to do their business as it happens elsewhere. Also, when we started, we found out that it was a crusade that would take much longer and it was costing NPA a lot of money to sustain the committee. Secondly, we found out that the Nigerian business sector cannot end corruption at a short time. That is why our current president has reawakened that crusade. Corruption is endemic. The issue of corruption in the industry would take time to go unless we take the bull by the horn and fight it frontally.

Why did you think so?

There were so many groups, there were too many parties involved in the port system and they don’t allow the critical stakeholders to do their business; so the maritime industry engine was not running smoothly because of these obstacles. We tried to create that sensitisation.

We tried to make examples of some people that we discovered were corrupt, but our legal system frustrated it because if you catch or arrest somebody stealing something, they charge him to court, the case is adjourned, six months, one year, maybe after some time, they discharge the man the following day and you see him at the port again.

But I am happy to say that most

of the government agencies that we were dealing with then have actually moved in the right direction. Most of them, except for Customs and the Port Authority, are no longer at the port. They have electronic platforms where they can handle anything, both within and outside Nigeria. So, it has reduced the stress of human traffic at the port. If everybody does not show the same passion to fight corruption, it can never end.

What is your opinion on government running a national shipping line?

In my personal opinion, if Nigerians can come together, those who want to seriously come into it, it will work well. If you say that somebody like Dangote who runs a shipping line now should form the nucleus of the shipping line, it may work because he will attract other investors.

People will trust him that he will deliver. But the problem with us is that we know that government cannot run a shipping line on its own because, these days, government doesn’t have the money to invest, except you put it to the private sector. So, it is wrong to have a national line run by government. Government can only guarantee you that the business climate will stay favourable, so private investment should come in.

If our people now can come together and convince government that they can work together, I think that is when national line can work. But as I said earlier, you are competing with global multinationals and very few countries in the world now, except centralised economies, run national lines.

What is your opinion on the reintroduction of Cargo Tracking Note (CTN) at port?

I hope that government will, for the sake of the economy, go slowly on it. In 2010, the Federal Executive Council approved it, but in 2011, it was abolished because they found out that there was no value it was adding. Where is all the monies collected in dollars? Who accounted for it? Now, the same people have come to Nigeria in the 21st Century to tell us that they can secure people’s cargoes. The same people are coming and they are going through the government agency to say that Cargo Tracking is coming and Nigerians are told it has no cost. If government has decided to bring in or reintroduce CTN, that is government’s decision, but the position of the shipping companies is that there is a cost, because the operators are not 100 per cent Nigerians and even if they are, to get the information that will go into the manifest, especially for import, will be produced by the shippers. The shipping agent over there will pay so much. If it is reintroduced on container trade alone, our projection is that it will cost up to $30 million per annum. Who will pay this

Government cannot run a shipping line on its own, it's wrong to have a national line run by government

Usifoh

money? This is our estimation based on the figure that the operators have given per unit of container, vehicle and general cargo, So, somebody will pay for it and it is not the ships that will pay for it. It is the cargo owner that will bear the cost. Business is already bleeding and I don’t blame them because Manufacturers Association of Nigeria (MAN), Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and freight forwarders have been told that it won’t cost them anything. There is no free lunch in business. That is it.

They have experienced it before; they assured them it wouldn’t happen when it started, but there will be a cost. That is fundamental. There will be a cost if it is reintroduced.

Will government derive full value for it? The concept of CTN is over 20 years old when, as I said earlier, everybody was doing paper work. But most of the agencies, especially, critical government agencies that have to do with cargo now, are compliant. They do electronic business. Manufacturers, importers, all use electronic platform for their documentation. So it is more secured because that is the trend in the world. Shipping is an international business. That is the trend worldwide.

If you are talking of security, we have security agencies. They have ways of tracking things now. You can see that the volume of hard drugs, contrabands and substandard goods is reducing because the agencies have established electronic platforms for tracking the movements of cargo coming into Nigeria.

If you are talking of security registration, three agencies are already doing it. We have Electronic Ship Entry Notice (e-SEN) and you apply for it if you are bringing in ships to NPA. So they know what is coming.

From the Automated System for Customs Data (ASYCUDA), Customs know what is coming,

same with NAFDAC and SON. The Nigerian Maritime Administration and Safety Agency (NIMASA) also has a registration platform. If you are bringing in ships, they see the manifest; they work closely with Customs and NPA. If government feels that there is room to make some people rich at the expense of others and bring another load of bureaucracy, we won’t quarrel with it, but all we are saying is that whatever we are doing as far as CTN is concerned, has been tried before but it didn’t work.

In Ghana, they tried to introduce it a few months back but I think it was the Ministry of Industry in Ghana that shut it down because people were protesting that it was going to cost them more. In Togo where they have introduced it, the cost has gone up from 25 euro per unit of container where it was before to almost 200 per cent.

Nigeria is not an integrated economy where things are not working well. The systems are robust enough to withstand any interference and I don’t think we should be selling our trade secrets and handing them to a third party in that way.

CV Val Usifoh Born:

Nil

Career: Shipping Total pay: Nil Training: Local and international

maritime training

Experience: Top management

position at Elder Dempster

Shipping

Chairman of the Port

Consultative Council (PCC)

Chairman, Port Industry

Anti-corruption Standing

Committee (PIACSC)

Profession: Shipping expert

Daily Summary as of 06/11/2015

Printed 06/11/2015 14:32:39.039

36 Business | Capital Market

MONDAY, NOVEMBER 9, 2015 NEW TELEGRAPH

Daily Summary (Bonds)

Daily Summary as of 06/11/2015 Printed 06/11/2015 14:32:39.039

No Debt Trading Activity

The Nigerian Stock Market Exchange as at November 6, 2015 Daily Summary (Equities)

Daily Summary (Equities)

Activity Summary on Board EQTY AGRICULTURE Crop Production OKOMU OIL PALM PLC. PRESCO PLC Crop Production Totals

Livestock/Animal Specialties LIVESTOCK FEEDS PLC. Livestock/Animal Specialties Totals

Activity Summary on Board EQTY Symbol OKOMUOIL PRESCO

No. of Deals 3 5 8

Current Price 28.82 30.50

Quantity Traded 9,000 15,900 24,900

Value Traded 256,640.00 494,559.50 751,199.50

Symbol LIVESTOCK

No. of Deals 17 17

Current Price 1.41

Quantity Traded 639,370 639,370

Value Traded 917,946.90 917,946.90

664,270

1,669,146.40

Quantity Traded 85,449 9,993 19,159,392 381,629 19,636,463

Value Traded 87,157.98 9,193.56 36,796,112.18 10,537,009.88 47,429,473.60

19,636,463

47,429,473.60

AGRICULTURE Totals CONGLOMERATES Diversified Industries A.G.as LEVENTIS NIGERIA PLC. Daily Summary of 06/11/2015 JOHN HOLT PLC. Printed 06/11/2015 14:32:39.039 TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC. Diversified Industries Totals CONGLOMERATES Totals

25 Symbol AGLEVENT JOHNHOLT TRANSCORP UACN

No. of Deals 1 1 138 34 174

Daily Summary (Equities)

Current Price 1.02 0.96 1.94 27.73

174

INDUSTRIAL GOODS Building Materials CEMENT CO. OF NORTH.NIG. PLC PAINTS AND COATINGS MANUFACTURES PLC LAFARGE AFRICA PLC. Building Materials Totals

Current Price 0.50

Quantity Traded 50,000 50,000

Infrastructure/Heavy Construction JULIUS BERGER NIG. PLC. Infrastructure/Heavy Construction Totals

Symbol JBERGER

No. of Deals 3 3

Current Price 39.50

Quantity Traded 350 350

Value Traded 13,300.00 13,300.00

Real Estate Development UACN PROPERTY DEVELOPMENT CO. LIMITED Real Estate Development Totals

Symbol UAC-PROP

No. of Deals 17 17

Current Price 6.61

Quantity Traded 176,451 176,451

Value Traded 1,165,964.89 1,165,964.89

226,801

1,204,264.89

CONSUMER GOODS Beverages--Brewers/Distillers CHAMPION BREW. PLC. GUINNESS NIG PLC Daily Summary as of 06/11/2015 INTERNATIONAL BREWERIES PLC. Printed 06/11/2015 14:32:39.039 NIGERIAN BREW. PLC. Beverages--Brewers/Distillers Totals Beverages--Non-Alcoholic 7-UP BOTTLING COMP. PLC. Beverages--Non-Alcoholic Totals

22 Symbol CHAMPION GUINNESS INTBREW NB

No. of Deals 11 38 2 59 110

Current Price 4.17 143.24 16.00 136.02

Quantity Traded 277,000 25,198 1,300 194,676 498,174

Value Traded 1,137,900.00 3,625,486.84 21,588.00 26,426,352.81 31,211,327.65

Symbol

No. of Deals 9 9

Current Price 191.01

Quantity Traded 4,500 4,500

Value Traded 833,406.75 833,406.75

Daily Summary (Equities) 7UP

Activity Summary on Board EQTY

CONSUMER GOODS Published by The Nigerian Stock Exchange © Food Products DANGOTE FLOUR MILLS PLC DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC NASCON ALLIED INDUSTRIES PLC N NIG. FLOUR MILLS PLC. Food Products Totals Food Products--Diversified CADBURY NIGERIA PLC. NESTLE NIGERIA PLC. Food Products--Diversified Totals Household Durables VITAFOAM NIG PLC. VONO PRODUCTS PLC. Householdas Durables Totals Summary of 06/11/2015

Printed 06/11/2015 14:32:39.039 Personal/Household Products P Z CUSSONS NIGERIA PLC. UNILEVER NIGERIA PLC. Personal/Household Products Totals

Quantity Traded 97,260 9,495 106,755

Value Traded 500,375.90 8,355.60 508,731.50

No. of Deals 15 57 (Equities) 72

Current Price 24.32 31.43

Quantity Traded 141,597 224,983 366,580

Value Traded 3,432,859.42 6,904,959.63 10,337,819.05

3,764,307

68,967,728.49

CONSUMER GOODS Totals

379

Activity Summary on Board EQTY

FINANCIAL SERVICES Published by Banking The Nigerian Stock Exchange © ACCESS BANK PLC. DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED FIDELITY BANK PLC GUARANTY TRUST BANK PLC. SKYE BANK PLC STERLING BANK PLC. UNITED BANK FOR AFRICA PLC UNION NIG.PLC. Daily Summary as ofBANK 06/11/2015 UNITY14:32:39.039 BANK PLC Printed 06/11/2015 WEMA BANK PLC. Banking Totals Insurance Carriers, Brokers and Services AIICO INSURANCE PLC. CONTINENTAL REINSURANCE PLC

Symbol ACCESS DIAMONDBNK ETI FIDELITYBK GUARANTY SKYEBANK STERLNBANK UBA UBN UNITYBNK WEMABANK

No. of Deals 187 11 32 80 150 55 15 181 23 15 22 771

Current Price 4.47 2.62 18.50 1.38 23.20 1.94 2.00 3.60 5.60 1.26 0.99

Page Quantity Traded 770,770,926 420,005 2,208,567 7,855,164 2,212,544 4,769,522 290,453 30,142,825 120,138 446,279 5,111,488 824,347,911

Symbol

No. of Deals 7 16

Current Price 0.90 1.05

Quantity Traded 110,800 3,036,405

Daily Summary (Equities) AIICO CONTINSURE

Quantity Traded 2,300 13,501,931 64,950 688,000 6,790 Page 2,272 17,413,448

Micro-Finance Banks NPF MICROFINANCE BANK PLC Micro-Finance Banks Totals

Symbol NPFMCRFBK

No. of Deals 5 5

Current Price 0.98

Quantity Traded 135,000 135,000

Value Traded 130,500.00 130,500.00

Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC CUSTODIAN AND ALLIED PLC FCMB GROUP PLC. STANBIC IBTC HOLDINGS PLC UBA CAPITAL PLC Other Financial Institutions Totals

Symbol AFRIPRUD CUSTODYINS FCMB STANBIC UBCAP

No. of Deals 39 1 44 20 72 176

Current Price 2.57 4.10 2.01 20.87 1.30

Quantity Traded 1,075,169 4,500 3,380,597 1,169,295 3,848,097 9,477,658

Value Traded 2,774,163.52 18,450.00 6,810,035.66 23,970,260.59 5,018,291.87 38,591,201.64

851,374,017

3,730,158,163.71

Quantity Traded 10,986

Value Traded 38,890.44

Daily Summary as of 06/11/2015 FINANCIAL SERVICES Totals Printed 06/11/2015 14:32:39.039

HEALTHCARE Healthcare Providers EKOCORP PLC.

1,004 Symbol No. of Deals EKOCORP 1 Daily Summary (Equities)

Current Price 3.72

Page

Published

by TheSummary Nigerian Stock Exchange © Activity on Board EQTY HEALTHCARE Healthcare Providers Healthcare Providers Totals Pharmaceuticals EVANS MEDICAL PLC. FIDSON HEALTHCARE PLC GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC PHARMA-DEKO PLC. Pharmaceuticals Totals

Symbol

No. of Deals 1

Current Price

Quantity Traded 10,986

Value Traded 38,890.44

Symbol EVANSMED FIDSON GLAXOSMITH MAYBAKER NEIMETH PHARMDEKO

No. of Deals 14 25 5 14 2 1 61

Current Price 0.54 2.81 37.07 1.20 1.03 2.14

Quantity Traded 1,119,939 601,234 3,910 88,772 1,475 18,300 1,833,630

Value Traded 580,884.46 1,689,055.85 145,126.20 108,917.02 1,467.50 39,162.00 2,564,613.03

1,844,616

2,603,503.47

Quantity Traded 50,000 50,000

Value Traded 135,000.00 135,000.00

50,000

135,000.00

Quantity Traded 186,121 11,943 6,821

Value Traded 4,186,897.55 109,542.35 259,276.21

HEALTHCARE Totals ICT Processing Systems E-TRANZACT INTERNATIONAL PLC Processing Systems Totals

62 Symbol ETRANZACT

ICT Totals INDUSTRIAL GOODS Building Materials ASHAKA CEM PLC BERGER PAINTS PLC CAP PLC Published by The Nigerian Stock Exchange ©

of

No. of Deals 1 1

Current Price 2.70

1 Symbol ASHAKACEM BERGER CAP

No. of Deals 5 6 6

Current Price 22.50 9.60 38.00

Page

6

of

No. of Deals 6 6

Current Price 48.51

Quantity Traded 1,006,563 1,006,563

Value Traded 48,798,050.07 48,798,050.07

9,012,496

766,075,532.95

68

OIL AND GAS Energy Equipment and Services JAPAUL OIL & MARITIME SERVICES PLC Energy Equipment and Services Totals

Symbol JAPAULOIL

No. of Deals 2 2

Current Price 0.50

Quantity Traded 30,000 30,000

Value Traded 15,000.00 15,000.00

Symbol OANDO

No. of Deals 123 123

Current Price 7.72

Quantity Traded 8,194,920 8,194,920

Value Traded 63,236,965.40 63,236,965.40

Symbol

No. of Deals 16

Current Price 27.41

Quantity Traded 36,520

Value Traded 950,980.80

Daily Summary (Equities) CONOIL

Page

Courier/Freight/Delivery RED STAR EXPRESS PLC Courier/Freight/Delivery Totals

of

12

Symbol ETERNA FO MOBIL MRS TOTAL

No. of Deals 21 52 14 7 14 124

Current Price 1.61 290.00 138.99 49.66 143.00

Quantity Traded 337,234 169,565 36,429 20,000 15,935 615,683

Value Traded 553,430.74 48,653,548.35 4,943,767.09 943,600.00 2,285,194.87 58,330,521.85

Symbol SEPLAT

No. of Deals 10 10

Current Price 230.04

Quantity Traded 9,514 9,514

Value Traded 2,144,586.66 2,144,586.66

8,850,117

123,727,073.91

OIL AND GAS Totals SERVICES Automobile/Auto Part Retailers R T BRISCOE PLC. Automobile/Auto Part Retailers Totals

7

259 Symbol RTBRISCOE

No. of Deals 3 3

Current Price 0.51

Quantity Traded 13,500 13,500

Value Traded 6,750.00 6,750.00

Symbol REDSTAREX

No. of Deals 4 4

Current Price 4.20

Quantity Traded 25,440 25,440

Value Traded 110,483.50 110,483.50

Symbol IKEJAHOTEL

No. of Deals 5 5

Current Price 3.20

Quantity Traded 635,000 635,000

Value Traded 1,952,140.00 1,952,140.00

Daily Summary (Equities)

Symbol

Page

No. of Deals

Current Price

8

Quantity Traded

of

12

Value Traded

Daily Summary (Equities) Activity Summary on Board EQTY SERVICES Printing/Publishing ACADEMY PRESS PLC. LEARN AFRICA PLC UNIVERSITY PRESS PLC. Printing/Publishing Totals

Value Traded 1,150.00 6,752,178.90 32,475.00 457,256.19 3,395.00 4 of 12 1,136.00 10,389,912.29

5

Symbol BETAGLAS

SERVICES Printing/Publishing

Value Traded 102,911.00 3,039,410.20

Current Price 0.50 0.52 0.50 0.66 0.50 0.50

Packaging/Containers BETA GLASS CO PLC. Packaging/Containers Totals

Daily Summary as ofNigerian 06/11/2015 Published

by The Stock Exchange © Printed 06/11/2015 14:32:39.039 Activity Summary on Board EQTY

of 12 Value Traded 3,453,247,521.96 1,074,670.11 40,843,995.09 10,691,764.70 51,357,617.96 9,495,088.49 571,603.87 107,544,364.21 673,575.02 555,238.81 4,991,109.56 3,681,046,549.78

No. of Deals 1 9 3 14 1 1 52

Value Traded 280,017.70 280,017.70

IKEJA HOTEL PLC Hotels/Lodging Totals

3

Symbol EQUITYASUR LAWUNION LINKASSURE NEM NIGERINS WAPIC

Quantity Traded 192,566 192,566

Daily Summary as of 06/11/2015 Hotels/Lodging Printed 06/11/2015 14:32:39.039

Activity Summary on Board EQTY FINANCIAL SERVICES Insurance Carriers, Brokers and Services EQUITY ASSURANCE PLC. LAW UNION AND ROCK INS. PLC. LINKAGE ASSURANCE PLC N.E.M INSURANCE CO (NIG) PLC. NIGER INSURANCE CO. PLC. Published by The Nigerian Stock Exchange © WAPIC INSURANCE PLC Insurance Carriers, Brokers and Services Totals

Current Price 1.45

Exploration and Production SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD Exploration and Production Totals

Current Price 5.39 0.92

Symbol PZ UNILEVER

No. of Deals 10 10

OIL AND GAS Petroleum and Petroleum Products Distributors ETERNA PLC. FORTE OIL PLC. MOBIL OIL NIG PLC. MRS OIL NIGERIA PLC. TOTAL NIGERIA PLC. Petroleum and Petroleum Products Distributors Totals

No. of Deals 13 2 15

Symbol VITAFOAM VONO

Symbol CUTIX

Activity Summary on Board EQTY

Value Traded 4,886,057.72 1,974,401.93 6,860,459.65

No. of Deals 22 14 36

Electronic and Electrical Products CUTIX PLC. Electronic and Electrical Products Totals

Published by The Nigerian Stock Exchange ©

Quantity Traded 245,503 2,391 247,894

Symbol CADBURY NESTLE

Value Traded 80,915.00 1,090.00 712,359,744.07 716,997,465.18

Petroleum and Petroleum Products Distributors CONOIL PLC

Current Price 20.10 814.00

Current Price 2.31 6.50 21.80 2.40 7.18 8.99

Quantity Traded 10,550 1,000 7,596,932 7,813,367

Integrated Oil and Gas Services Totals

12 2 of Value Traded 885,088.64 4,538,272.17 6,050,689.53 377,773.10 7,184,140.20 180,020.25 19,215,983.89

No. of Deals 14 29 51 13 28 2 137

Current Price 7.93 1.14 94.00

Daily Summary as of 06/11/2015 Integrated Oil and Gas Services Printed 06/11/2015 14:32:39.039 OANDO PLC

Page Quantity Traded 384,106 702,674 279,679 152,500 1,000,390 21,055 2,540,404

Symbol DANGFLOUR DANGSUGAR FLOURMILL HONYFLOUR NASCON NNFM

Daily Summary

12

1 of Value Traded 25,000.00 25,000.00

No. of Deals 2 2

CONSTRUCTION/REAL ESTATE Totals

Daily

Page

Symbol COSTAIN

No. of Deals 11 1 23 52

INDUSTRIAL GOODS Totals

Activity Summary on Board EQTY CONSTRUCTION/REAL ESTATE Published

by The Nigerian Stock Exchange © Building Structure/Completion/Other COSTAIN (W A) PLC. Building Structure/Completion/Other Totals

Symbol CCNN PAINTCOM WAPCO

Symbol ACADEMY LEARNAFRCA UPL

No. of Deals Current Price 4 0.59 6 0.68 1 5.73 11

Quantity Traded 42,304 815,000 500 857,804

Value Traded 25,805.44 554,500.00 2,725.00 583,030.44

Road Transportation ASSOCIATED BUS COMPANY PLC Road Transportation Totals

Symbol ABCTRANS

No. of Deals Current Price 1 0.50 1

Quantity Traded 2,050 2,050

Value Traded 1,025.00 1,025.00

Transport-Related Services AIRLINE SERVICES AND LOGISTICS PLC NIGERIAN AVIATION HANDLING COMPANY PLC Transport-Related Services Totals

Symbol AIRSERVICE NAHCO

No. of Deals Current Price 1 1.91 29 4.37 30

Quantity Traded 200 193,579 193,779

Value Traded 374.00 825,555.63 825,929.63

Symbol CAVERTON

No. of Deals Current Price 3 2.76 3

Quantity Traded 500,000 500,000

Published by The Nigerian Stock Exchange ©

Support and Logistics CAVERTON OFFSHORE SUPPORT GRP PLC Support as andofLogistics Totals Daily Summary 06/11/2015 Printed 06/11/2015 14:32:39.039

SERVICES Totals

EQTY Board Totals

Page

9

of

Value Traded 1,380,000.00 1,380,000.00

57

2,227,573

4,859,358.57

2,051

897,650,660

4,746,829,245.99

Daily Summary (Equities)

12

Activity Summary on Board PREMIUM FINANCIAL SERVICES Banking ZENITH INTERNATIONAL BANK PLC Banking Totals

Published by The Nigerian Stock Exchange ©

Other Financial Institutions FBN HOLDINGS PLC Other Financial Institutions Totals

Symbol ZENITHBANK

No. of Deals 251 251

Current Price 17.71

Quantity Traded 68,833,844 68,833,844

Symbol FBNH

No. of Deals 405 405

Current Price 5.10

Quantity Traded 31,293,716 31,293,716

FINANCIAL SERVICES Totals INDUSTRIAL GOODS Building Materials DANGOTE CEMENT PLC Building Materials Totals

656 Symbol DANGCEM

PREMIUM Board Totals Equity Activity Totals

10

12

of

Value Traded 159,507,317.18 159,507,317.18

100,127,560

1,371,777,068.01

Quantity Traded 3,800 3,800

Value Traded 623,199.00 623,199.00

4

3,800

623,199.00

660

100,131,360

1,372,400,267.01

2,711

997,782,020

6,119,229,513.00

No. of Deals 4 4

INDUSTRIAL GOODS Totals

12

Page

Value Traded 1,212,269,750.83 1,212,269,750.83

Current Price 163.00

Daily Summary (ETP) Exchange Traded Fund

Name Daily Summary as of 06/11/2015 LOTUS HALAL EQUITY ETF Printed 06/11/2015 14:32:39.039

Symbol LOTUSHAL15

No. of Deals 1

Current Price 9.22

Quantity Traded 10 Page

Published by The Nigerian Stock Exchange ©

Value Traded 92.20 11

of

12

Daily Summary (ETP) Exchange Traded Fund

Name NEWGOLD EXCHANGE TRADED FUND (ETF) VETIVA BANKING ETF VETIVA CONSUMER GOODS ETF VETIVA GRIFFIN 30 ETF VETIVA INDUSTRIAL ETF Exchange Traded Fund Totals

12

Symbol NEWGOLD VETBANK VETGOODS VETGRIF30 VETINDETF

No. of Deals 1 1 1 2 1 7

Current Price 2,132.00 3.08 7.40 13.35 20.86

Quantity Traded 5 10 10 2,010 10 2,055

Value Traded 10,660.00 30.80 74.00 26,713.50 208.60 37,779.10

ETF Board Totals

7

2,055

37,779.10

ETP Activity Totals

7

2,055

37,779.10

NEW TELEGRAPH MONDAY, NOVEMBER 9, 2015

News 37

national

Army decries uniform men, tanker drivers' frosty relationship Abdulwahab Isa ABUJA

T

he Nigeria Army has decried frosty and not too cordial relationship between uniform men and tankers drivers resulting into incessant frictions.

The Army expressed concern about displeasing report of financial extortion levelled against uniform men despatched on highway with a promise to eradicate such.

The Chief of Civil –

Military Affairs, Nigeria Army Headquarters, Brig General R.I. Nicholas gave the assurance during a visit to the National Secretariat of PTD Branch of NUPENG in Abuja.

The visit was aimed at reducing recurring frictions between the army and PTD members, a statement issued by PTD Media consultant , Abdulkadir Garba said.

Gen. Nicholas noted the vital role played by tanker drivers in the nation’s economy, stating that, rather than be seen and treated with scorn,

Nigeria and the Nigerian Army recognized the contribution of Petroleum Tanker Drivers. He assured the union that the army is ready to partner with members of PTD at ensuring the smooth flow of fuel distribution across the country.

He stressed the need for peaceful co-existence, devoid of rancour and unnecessary strike actions.

Nicholas expressed the readiness of the Army to relate with PTD members in civil manner so long they conduct themselves within the ambit of the

law, saying the present day Army does not see itself as a subject of terror in the society. He urged the union to cooperate with the force to build mutual and respectful relationship between the two organisations.

The Chief of Civil – Military Affairs, who was accompanied by other officers, promised to look at problem areas identified by the union notably – Warri – Benin by pass among others, with a view to checking the excesses of uniform men in the area as well as other parts of the country.

Total faults DPR’s closure of depot, restates integrity

T

otal Nigeria Plc has faulted the Directorate of Petroleum Resources (DPR) over last Thursday’s closure of the company’s Ibafon Depot on allegation that it was hoarding Premium Motor Spirit (PMS), due to the absence of loading at the time of its visit to the depot.

Specifically, the management of the major petroleum marketing company stated that the facts of the matter were that on the day in question, loading activities at the Ibafon depot commenced after the sanitation exercise; adding that 17 trucks were programmed and assigned destinations as

filled in the DPR coupon which were equally approved for loading by the DPR representative in Ibafon.

According to the company, at the time DPR officials were at the depot, access to the depot from the truck park was blocked, and trucks were unable to gain access to the depot thereby necessitating its officials’ efforts to liaise with the security agents and Petrol Tanker Drivers (PTD) to ensure that the road into Total Ibafon depot got cleared.

It claimed that the measures were to enable programmed trucks gain entrance to load products.

DVC laments cost of importing education materials Yekeen Nurudeen ABUJA

I

L-R: Vice-Chancellor, Ondo State University of Medical Sciences, Prof. Friday Okonofua; Chairman, Medical and Dental Consultants Association of Nigeria, Dr Stella Adegbehingbe; Governor Olusegun Mimiko and Commissioner for Health, Dr. Dayo Adeyanju, at the opening ceremony of the 2nd Annual General Meeting and Scientific Conference of the Medical and Dental Consultants Association Nigeria in Akure…yesterday.

Police never ordered ban on schools' assemblies — IG Emmanuel Onani

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he Inspector General of Police (IGP), Mr. Solomon Arase, has denied making an order banning assemblies in primary and secondary schools anywhere in the country.

Arase was quoted in a statement by the Force Public Relations Officer (FPRO), Mrs. Olabisi Kolawole, an Acting Assistant Commissioner of Police (ACP), as saying that he only issued "advisory" to schools in insurgencyprone areas, to take precaution, in view of the prevailing realities.

The statement reads: "The Inspector-General of Police...wishes to inform the general public that the Force has not issued any order banning assembly devotion in primary and secondary schools anywhere in Nigeria.

"The IGP notes that against the backdrop of current security challenges in the country, the Police only issued advisory notice directed predominantly to the states where there are insurgency.

NABG backs CBN on forex restrictions

N

igeria Agribusiness Group (NABG), the Agribusiness sector operators platform, led by Mr. Sani Dangote, has thrown its weight behind the Central Bank of Nigeria (CBN)’s foreign exchange restriction policy as well as the refusal of the bank to devalue the naira as is being suggested by international finance institutions and multi-lateral agencies.

The CBN in the past few months has been under pressure over the decision to ban sourcing of foreign exchange for the importation of 41 items for which Nigeria has comparative advantage as well as its resistance to international pressure for the devaluation of the nation's currency.

The NABG Chairman stressed that his group believes that the CBN forex policy especially as it affects commodities like tomato puree, rice, palm oil and other agric produce is the correct step to save the nation's economy from impending crisis and return it to the path of sustainable growth.

Dangote who was part of the panel of discussant at the 4th EU-Nigeria business forum in Lagos said:

"We commend the Central Bank Governor, Godwin Emefiele, for taking this bold step. We have companies that employ thousands of Nigerians; we have small farm holders who will produce for the country's need. We cannot do this overnight but it has to start from somewhere, and if the federal government kills the incentive to start from the grass root level, you can never reach the level to be self sufficient."

He said the decision

by CBN is the right move required to stimulate local production, maintaining that allowing imports would only suppress local production.

"If we do not stimulate it now, when will there be the time to do this? Once you allow some imports to come in and be dumped on the local market it will certainly suppress local incentive and indigenous initiative and there is no way any investor will deploy resources to develop the sector; there is no way the local farmers, rural farmers will find the opportunity to grow," he said.

"This is the right step forward, whatever Nigeria has the capacity to pro-

duce must be encouraged to grow, whether we have trillions of dollars in the government coffers or not, the federal government should continue with this policy until local capacity is enhanced."

He advised that the CBN should make more capital and funding available and affordable for the farmers to grow in order to achieve the nation's quest for economic diversification, while stating that it was heart warming that the apex bank recently agreed to provide funds for tomato out-growers in the country toward enhancing their capacity to boost output and meet the requirement of tomato processing companies in the country.

change of names

Singer

I, mostly addressed as Peter Owow, now wish to be addressed also as Paul Moses Singer. First Bank Plc, Ahoada branch, Rivers State and General Public should take note.

Gbia Gbia

I, mostly addressed as Odien Pabowei, now wish to be addressed also as Ebiye Gbia Gbia.

First Bank Plc, Ahoada branch, Rivers State and General Public should take note.

f Nigeria must attract foreign investors into its education sector, the federal government must look into how it can reduce import duties on educational materials, the Deputy Vice Chancellor, Nigerian Turkish Nile University, Professor Mehmet Yilmaz has said.

He lamented that Customs fees paid on educational materials being imported into the country

are quite challenging and could serve as obstacles to potential investors into the country.

Professor Yimaz, who also advocated for reduction in the tax payable by educational institution in the country as part of incentives to woo foreign investors, stated this in Abuja during an interactive session with journalists.

He challenged the present administration under President Muhammadu Buhari to convince investors to invest in the country.

PUBLIC NOTICE

NETWORK 89 BUSINESS CLUB

This is to inform the General Public that the above name has applied to the Corporate Affairs Commission for Registration under part ‘C’ of the Companies and Allied Matters Act, 1990.

The Trustees are: 1. Olutoye Olutayo 2. Obidiya Abolade Olaniyi 3. Adebola Olayemi Sanyaolu 4. Adeyemi Temidayo 5. Osebor Joel Oseahume AIMS AND OBJECTIVES 1. To build a complete man, making him a model in the society 2. To serve as a social support group for bonding members Any objection to the registration should be forwarded to the Registrar-General, Corporate Affairs Commission, plot 420 Tigris Crescent, off Aguiyi Ironsi Street, Maitama, Abuja within 28 days of this publication.

Signed: TRUSTEES

PUBLIC NOTICE

CHRIST THE ONLY HOPE CHAPEL

This is to inform the General Public that the above named has applied to the Corporate Affairs Commission for Registration under part ‘C’ of the Companies and Allied Matters Act, 1990.

The Trustees are: 1. Prophet Jeremiah Sunday Adeoye – Fonder /Chairman 2. Lady Evang. Mrs Itunuoluwa Abosede Adeoye – V/Chairman 3. Evang. Samson Oluwatobi Adeoye - Secretary 4. Pastor Zacheus Sunday Oluokun 5. Pastor Abiodun Adedokun AIMS AND OBJECTIVES 1. To preach the gospel of our Lord Jesus Christ Any objection to the registration should be forwarded to the Registrar-General, Corporate Affairs Commission, plot 420 Tigris Crescent, off Aguiyi Ironsi Street, Maitama, Abuja within 28 days of this publication.

Signed: TRUSTEES

38

News

Muritala Ayinla

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he Executive Secretary of the Lagos State Security Trust Fund (LSSTF), Mr. Fola Arthur-Worrey, at the weekend resigned his appointment. No reason was given for his resignation as the state governor, Mr. Akinwunmi Ambode, is expected to name his replacement today.

Arthur-Worrey it was gathered had earlier informed governor Ambode, to look for another person to head the Fund, following his decision to step down, having spent eight years in the saddle of managing the fund used by the state and corporate organisations to bridge the gap in the funding of security challenges in the state.

The LSSTF which was set up by former Lagos State Governor, Mr. Babatunde Fashola, in 2007, to make the private sector complement government’s efforts on the provision of security in the state, has been responsible for ‘effective running of the security outfits in the state through provision of security gadgets and improved welfare of the security personnel.’

SOUTH-WEST

MONDAY, NOVEMBER 9, 2015 NEW TELEGRAPH

Author-Worrey, Security Trust Fund boss, resigns lAmbode to name successor today

In the last eight years, the LSSTF, under the leadership of ArthurWorrey, expended about N16 billion on security in the state, according to documents exclusively obtained by New Telegraph earlier. The amount was spent on provision of patrol vehicles, tyres and

batteries (for vehicles), boots, bulletproof vests, walkie talkies, uniforms, explosive detective kits, ballistic helmets, riders’ gears, tactical imagery cameras, handcuffs and gunshot treatment packs.

Sources in the governor’s office, who pleaded anonymity, said the governor will make announce-

ment on who replaces Arthur-Worrey today.

Aside bridging the funding gap in kitting the security agencies and improving the welfare of personnel due to poor funding by the Federal Government, the Fund also appeals to donor on the need to continu-

ously collaborate with the state government on security for continued development of the state economy.

Some of the top security officers who spoke with New Telegraph on the resignation of Arthur-Worrey, expressed concern of the government to have a replacement who would prudently manage the Fund.

Ekiti State Governor, Mr. Ayodele Fayose (right), returning Oretuyi David to his mother, Mrs. Oretuyi Bosede, after paying his hospital bills at one of the private hospitals in Ado Ekiti …at the weekend.

Gov candidate tasks youth on nation building Sola Adeyemo Ibadan

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he Social Democratic Party (SDP) governorship candidate in the April 11, 2015 election in Oyo State, Engineer Seyi Makinde, has urged governments at all levels to encourage the youth in the country to play positive roles in nation building.

He said this at a lecture entitled: “Youth Participation in Politics: Prospects and Challenges’’, organised by the Correspondents’ Chapel of the Nigeria Union of Journalists (NUJ), Oyo State Council in Ibadan.

Makinde, who was represented by Hon Kehinde Ayoola, a former Speaker, Oyo State House of Assembly, said that the youths needed to be mentored and allowed to participate actively in agenda setting for national development.

He nevertheless traced low participation of youths in politics to military dictatorship, pointing out that military incursion left the nation in deep contradiction between their potential as a nation and developmental reality.

Allocation decline cripples states, FG to share $2bn ECA to states –Fayose says Aregbesola T Adeolu Adeyemo Osogbo

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sun State Governor, Rauf Aregbesola at the weekend declared that the over 40 per cent revenue decline in the federal allocation to the state has consistently crippled his government policies and programmes as many states find it difficult to pay wages and salaries.

Governor Aregbesola made the declaration while commissioning the newly renovated and equipped Comprehensive Health Centre, Igbajo in Boluwaduro Local Government

Area of the state by Mrs. Yetunde Oyewola, in commemoration of her 80th Birthday.

Aregbesola pointed out that, Nigeria has got to a stage, where things could only function well in the right direction with the utmost support and contribution of those who are financially blessed and economically endowed in the society.

He solicited for people’s support and collaboration on the current wind of change in Nigeria, adding that citizens must form a united front and collaborate with governments for general development and well being of the people.

The governor who la-

mented what he described as economic backwardness, said the nation’s economy has been gruesomely bastardized by the immediate past administration.

He, however, charged well-meaning and successful Nigerians to rise up to the occasion by complementing the onerous efforts of government towards the socio-political and economic development of Nigeria.

He stressed that, “the country’s treasury has been brought to its knees and this backward economic syndrome has manifested in the dwindled revenue given to the states of the federation in the last two years.”

APC demands Ondo explanation on federal allocation Babatope Okeowo Akure

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he All Progressives Congress (APC) in Ondo State, yesterday asked the government to give account of funds running to billions of naira received from the federation account under the government of the present administration in the past six years.

The Chairman of the party, Mr. Duerimini Isaacs Kekemeke, also admonished the government to relax the tax burdens on the people of the state

which he described as exploitative.

Kekemeke in a statement said the call for the accountability became necessary because of the alleged tax burden which the people of the state have been subjected to in the past few months after the amount from the federation account diminished.

On the need for accountability from the state government, Kekemeke, said the government has a duty to be fiscally responsible and transparent in the ways it expends the peoples commonwealth, as

transparency encourages citizens to reciprocate the responsibility of government to them.

On the issue of taxation, Kekemeke, said the APC, believed that citizens have the civic duty to pay taxes and rates in demonstration of their citizenship and in assisting the government in the discharge of its functions and duties to the people.

However, he said, for government to justify the collection taxes from the citizens, it has the constitutional and moral duty to create wealth, among others.

he Federal Government may soon disburse the over $2 billion remaining in the Excess Crude Oil Account (ECA) to state governments for them to be able to fund capital projects in their states.

Ekiti State Governor, Mr. Ayodele Fayose, revealed this at the weekend, while featuring on a radio/television programme “Meet Your Governor” in Ado-Ekiti.

In a statement yesterday by the governor’s Chief Press Secretary, Mr. Idowu Adelusi, the step would be taken for the state governments to be able to embark or complete some important capital projects.

While stating that Ekiti could get about N10 billion from the fund, the governor noted,”nothing is no longer going into the Excess Crude Oil Account because oil is selling lower than the envisaged price in the international market. That has badly affected all of us. The 2015 Budget in Ekiti was predicated on oil selling at $65 a barrel, but it sells for over $40 now.’’

“That has left our budget performing only in the area of Recurrent Expenditure. You know that I call a spade a spade. Ekiti is expecting about N10 billion when the ECA fund is shared. When it comes, I will tell everybody. I don’t hide things.

“The capital projects that we have embarked upon since we came on board are being executed because we are prudent, transparent and open, and also because we are leveraging on goodwill with corporate bodies,” he said.

Given the tough economic climate in the country, Fayose said there was no way people could dodge paying taxes, rates and levies, adding that government would be crippled without finances.

He implored butchers to stop protesting the N1000 levy imposed on them on the slaughtering of a cow, warning that anybody caught killing cow in an unauthorised place would be fined N50,000.

Mimiko blames LG poll delay on funding Babatope Okeowo Akure

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overnor Olusegun Mimiko of Ondo State, has blamed the delay in the conduct of election into the local government in the state on the inability of the state to fund the exercise from the dwindling revenue from the federation account.

Mimiko who said election into the 18 local governments in the state, will be conducted

before the end of January 2016, said the government would need not less than N500 million for the exercise.

Speaking at the programme tagged “Mr Governor speaks” aired on the state owned radio and television at the weekend, Mimiko, said the financial problem facing the country could be tackled if the Federal Government implement true federalism and cede some of the powers to the federating units.

Mimiko who said the

1999 constitution, guarantees democratic structures at the third tier of government, said the dwindling revenue from the federation account made election difficult in the state for now.

According to him, there were many natural resources available in each states of the federation that could have generated revenue to the coffers of the states but could not harnessed because of the need for Federal Government approval.

NEW TELEGRAPH MONDAY, NOVEMBER 9, 2015

OPS tasks Ugwuanyi on all-inclusive government Charles onyekwere ENUGU

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he organised private sector (OPS) in Enugu State yesterday called on Governor Ifeanyi Ugwuanyi, to run an all-inclusive government that would give all residents of the state a sense of belonging, irrespective of their political affiliations.

President of the Allied Business Community, Nsukka, Comrade Augustine Okagu, made the call shortly after the union’s election.

The Union leader maintained that the time for politicking was over, noting that it was now time to advance the course of the state through a partnership without bounds.

Okagu, his Vice, Ichie Theophilus Agbo and the General Secretary, Comrade Ojobo Godwin, among other exco members, were returned unopposed for a second tenure, through voice vote.

While commending Okey Ezea, for withdrawing his suit challenging Ugwuanyi’s election, he said, “now that Ezea took such bold step, we urge the governor to throw his doors wide open and allow meaningful contributions from every wellmeaning resident of this state.

Missing $4m: Lawyer demands release of detained policemen lThreatens N100m damage suit against COS Steve Uzoechi Owerri

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he controversy over the missing $4 million allegedly stolen from the bedroom of Chief Uche Nwosu, the Chief of Staff and son-in-law to Governor Rochas Okorocha of Imo State, may have taken a new twist, following the demand by a group, King-

Umuahia

A

bia state government has commended the people of the state, particularly residents of Aba, the commercial hub of the state, for rejecting the call by the Movement for the Actualisation of the Sovereign State Biafra (MASSOB) for mass demonstration against the arrest and detention of the director of the Radio Biafra, Mr. Nanamdi Kanu.

In a statement by the Chief Press Secretary to the Governor, Mr Godwin Adindu, made available to newsmen in Umuahia, the government said the state and Aba in particular have remained calm and peaceful contrary to insinuation that there have been disturbances in Aba. The statement read in part: “In the wake of the mass demonstration by

dom Human Rights International that one of the detained policemen on duty at Nwosu’s house at Imo State Police Headquarters, Owerri, be released.

In a statement entitled, “Okrocha’s Chief of Staff, Uche Nwosu Lied: Imo bailout fund stolen from his bedroom,” signed by the Director of the foundation, Mr. Kingdom Okere, a lawyer and counsel to

Mr. Gift Udenwoke, one of the detained policemen on duty at the COS house, said: “our organisation has been briefed by a police officer who was posted on duty to secure the private house of Chief Nwosu.

Our client, Gift Udenwoke, who is serving at the new Owerri Police Station, Imo State Command of the Nigerian Police Force, informed us from

the police detention cell, at the Criminal Investigation Department (CID), Owerri, that he was arrested alongside other security officers posted to Nwosu’s house over the alleged missing four million dollars, said to have been stolen by the personal cook of the COS. The detained police officer in his brief informed us that he has no link with the Togolese Cook, who is still at large.”

Demanding the immediate release of Udenwoke,

A cross-section of the Alumni Association of the Federal Government Girls College, Owerri, during their Global Reunion Outreach to Internally Displaced Persons Camp at Durumi in Abuja …at the weekend. PHOTO-NAN.

Abia lauds opposition to MASSOB’s protest Igbeaku Orji

News 39

SOUTH-EAST

the members of MASSOB, for the release of the director of Radio Biafra, Mr. Nnamdi Kanu, across the SouthEast and South-South regions, some detractors of Abia are catching in on the situation to insinuate that there has been disturbances in Aba. Their aim is to ride on the situation to actually create problems and cause a breach of peace.”

The release further noted that the people demonstrated peacefully by resisting the attempt by election petition losers to use them to vent their frustrations.

The statement also noted,“But, the truth of the matter is that Aba has been calm and the people of the city have maintained peace. The people of Aba have conducted themselves in a very responsible manner and have resisted the attempt by election petition losers to use them to vent out their frustrations.”

Okere, said, “We shall institute a N100million court action if our client is not released immediately, adding, since Uche Nwosu, through his Press Secretary, Mrs. Vivian Onwuka, had earlier denied that money was stolen from his house.”

It was learnt that the case is being handled at D4 department, state CID, Owerri.

Asked why the policeman was still being detained, the Investigating Police Officer, Inspector Casmir said, “Felony was committed at the house where a policeman was posted on guard duty and he is saying he knows nothing about what happened.

And if he has gone to invite human right lawyers into this matter, he may end up being dismissed.”

When contacted via telephone yesterday, the Chief of Staff, Uche Nwosu, who was virtually irritated over the story, said it was mere lies and propaganda by mischief makers.

He also denied any knowledge of the detention of the policemen.

He said: “Are you aware that the person who wrote that story first, I have taken him to court? All these stories are lies and propaganda. Can you imagine somebody keeping $4m in his house? Is it possible?”

Asked about the detained policemen, Nwosu, said that he doesn’ have any knowledge about it. “Go to the Commissioner of Police and ask him. I don’t know anything about that. Go and ask the CP”, he said.

Biafran one-million-man march protest grounds Enugu Charles Onyekwere ENUGU

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ollowing the protest to press for the release of the leader of the Indigenous People of Biafara (IPOB), Mr. Nnamdi Kanu, activities in Enugu metropolis were brought to a complete halt by a one million man march staged by over eighty thousand members of a breakaway faction of MASSOB yesterday.

The pro-Biafara activists stormed the Coal City at about 7:30 am yesterday morning, marching

through major streets and chanted anti-Federal Government slogans, declaring their opposition to the incarceration of the IPOB leader.

They said that they would not relent in their agiatation for the actualisation of the Biafran nation.

The protesters, however, didn’t hinder vehicular movements within the metrpolis.

Some of the residents of Enugu, on their way to churches for the Sunday services within the New Haven,Okpara Avenue, Abakaliki-Enugu road and other places, joined the

protesting crowd clutching their Bibles and chanted “Anyi Amakwe ‘’ meaning “we will not agree” Briefing journalists on the protest, the National Director of information of MASSOB, Comrade Uchenna Madu, whose members are Part of the struggle, said that the continued detention of Kanu, would worsen the already fragile security situation in the country.

According to Madu, the factional MASSOB, IPOB and other genuine groups are ready to unleash the potency of non-violence which include civil disobe-

dience, civil unrest, non coperation, civil/massive boycott as was done during the emancipation struggle of Ghandi of India and Martin Luther King jnr.

While condemning the leader of Ohanaeze youth council Okechukwu Isiguzoro, for describing the Biafaran agitation as treason, Madu, challenged him to proof his leadership of Ohanaeze youths by leading a public demonstration against Biafra, stating that, that was the way of showing loyalty and respect to Nigeria rather than talking on the pages of newspapers.

Buhari, APC sued over N5,000 stipend Steve Uzoechi OWERRI

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group, the South-East Progressives Assembly (SEPA), has threatened to institute to sue President Muhammadu Buhari and the ruling All Progressives Congress(APC) over what it called the failure of the Federal Government to commence the payment of the monthly N5,000 stipends promised to all unemployed Nigerian youths

as promised by the party.

President Buhari and his party, the APC had during the election campaigns promised to through its ‘Change’ slogan initiate some certain programmes which include the payment of N5000 monthly stipend to unemployed Nigerian youths.

In a statement by SEPA signed by its President, Ebere Uzoukwa, the group maintained that having entered into a social con-

tract with Nigerians including the youths through their campaign promises contained in the party’s manifesto, President Buhari and APC owe Nigerians the obligation to fulfill their campaign promises including the payment of the N5000 monthly stipend to unemployed youths.

The group argued that most Nigerians especially the teeming youths had spurn the then ruling People’s Democratic

Party(PDP) and embraced President Buhari and the APC with high hopes and expectations hinged on the promises of Mr. President at the time.

The group expressed shock and surprise that six months after their victory, the commencement of the party’s promises were still being expected, instead, President Buhari and the APC have resorted to ‘antics that suggest deceit and incompetence’.

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SOUTH-SOUTH

MONDAY, NOVEMBER 9, 2015 NEW TELEGRAPH

I’ve no problem with your son, Dickson tells Sylva’s kinsmen Chris Ejim and Pauline Onyibe

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ayelsa State Governor, Seriake Dickson, at the weekend led the Peoples Democratic Party (PDP) governorship campaign to the hometown of his opponent in the December 5 elec-

tion, former Governor Timipre Sylva, telling the people that he has no personal problem with their son, but needed their votes to actualise his development agenda for the state.

Governor Dickson, while speaking during a community-based campaign tour of Okpoama community, Brass Local Government Area of

the state, told the traditional ruler and the people of the community that his administration has resolved to award the multi-billion naira Nembe-Brass Road during the first quarter of 2016, if re-elected for a second term in office.

According to Dickson, the award of the road contract is in addition to the on-going Ogbia-Nem-

be Road project and other developmental projects sited in the area.

Dickson, who was received by the Okpoama Council of Chiefs, commended the people of the area for their support and the large turnout, adding that this is a testimony to the fact that the people of Brass Local Government Area are in support of the

PDP led administration.

Meanwhile, Governor Dickson visited nineteen communities in Brass Local Government at the weekend, meeting the locals directly and telling them to vote for the PDP, which he is the flag bearer.

Speaking at the various communities, starting from Sangaana, the governor said he has

never gone to that community even though he was sure that they voted for PDP in the last election, disclosing that he has actually come to see how they were faring and to see for himself all the complains he has been getting concerning the community, including the gully erosion threatening the community.

Okowa urges measures against dwindling oil price Dominic Adewole ASABA

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elta State Governor, Ifeanyi Okowa, has called for urgent measures to check the loss of jobs in the country due to the dwindling price of oil in the international market.

The governor told the National President of the National Union of Petroleum and Natural Gas Workers (NUPENG) led by Igwe Achese that the fall in oil price was threatening the Nigeria economy.

Okowa said unless urgent steps are taken to tackle the major challenge through a solid partnership between the state and Federal Government to diversify the economy, the country may nosedive

into serious economic disaster.

According to him, the oil and gas sector was not the only sector being affected; the construction sector has also been greatly affected.

He said: “We are beginning to lose jobs in the oil companies, the construction companies are even affected most, because they employ more workers, especially, youths, when they are working, the youths in their areas of operation are employed,” he stated, adding, “today, it is affecting the construction of roads and other infrastructure, we believe that with the coming of the dry season, we will be able to engage the construction companies and they will in turn, engage the youths and our people.”

Emmanuel seeks media partnership in Akwa Ibom Tony Anichebe Uyo

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etermined to effectively implement his policies and programmes, Akwa Ibom State Governor, Udom Emmanuel, at the weekend, asked for partnership with the media to actualise his agenda for the state.

He also stressed the need for a conducive working environment for good governance to thrive.

It will be resolved that a section of the local media has been testing his resolve since he emerged governor on May 29, 2015, forcing him to seek complementary partnership with the media to ensure that the state moves forward.

It was at the weekend meeting with the media held at the Banquet Hall of the Government House, Uyo, where he solicited for a more friendly approach to media practice in the state. He said though government was

not averse to criticisms, such reportage should be done with a sense of responsibility.

He recalled that though the concept of adversarial media started at the beginning of the 20th century in the United States, “it never trampled on the sanctity of the American institutions, attacked individuals nor questioned the core or fundamental principles, values and character… “…They all focused on issues that are germane to development and improvement of the lot of the common man,” he added and enjoined media practitioners to be in the vanguard of facilitating smooth implementation of key government policies and programmes.

Meanwhile, the Managing Director of Ibom Power Plant (IPP), Victor Udoh, has assured that Governor Udom Emmanuel has a clear blueprint for revolutionising the power generation capacity of the state’s independent power plant.

Akwa Ibom State Governor, Mr. Udom Emmanuel (left), presenting the Obong Sampson Udo Etuk Excellence Award for Leadership on behalf of Mboho Mkparawa Ibibio to the Senate Minority Leader, Senator Godswill Akpabio, during the 19th Obong Sampson Udo Etuk Award Night in Akwa Ibom…at the weekend.

No going back on producing next governor, say Edo stakeholders Cajetan Mmuta BENIN

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takeholders drawn from the five local government councils of Edo Central Senatorial District at the weekend, said there is no going back in their quest for the governorship seat in the 2016 governorship election in the state.

Speakers in their respective presentations

said this at a two-day summit organised by Esan Journalists Forum (EJF) in collaboration with Enigies with the theme: “The future of Esan nation; the reason to be hopeful,” held at Irrual, the headquarters of Esan Central council area of the state.

They insisted that “the demand for the governorship position to shift to Esan land is

indeed a right and not a privilege as the Edo South and North senatorial districts have in the last two political dispensations have had a shot at the exalted seat with an unbroken record of eight years of two terms each for the senatorial districts.

An All Progressives Congress (APC) governorship aspirant in the election, Kenneth Iman-

DESOPADEC debunk squandering N650m Gabriel Efeduku

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ollowing an alleged report in some print and social media that the Managing Director of Delta State Oil Producing Areas’ Commission (DESOPADEC), Chief William Makinde, has allegedly squandered N650 million of the commission’s fund, the managing director yesterday debunked the report, saying that it was unfounded and untrue.

In a statement by the Special Assistant, Media, to the Managing Director, Dr. Prince Orhomonokpaye, he wondered why

some print and social media would carry such a frivolous report that has no iota of truth in it.

He said: “I have read through the report and I am surprised that the media could write such frivolous report that is unfounded. The issue sited in the report that the DESOPADEC managing director paid a media house N350 million as debt from advert publications, squandered N270 million and another N1.5 billion DESOPADEC fund withdrawn by Sterling Bank, are baseless and has no iota of truth it. No contract was

awarded to the daughter of former Governor of Delta State, Chief James Ibori, to purchase vehicles for the commission as reported in the print and social media.”

While strongly advising the media to always cross check their facts before publication, the special assistant on media urged the general public to disregard such publication, which it said was orchestrated by some elements that were determined to tarnish the good image of the DESOPADEC managing director and that of the board members.

suangbon, said time was ripe for Edo Central to produce the next governor of the state and called for support to realise the Esan agenda for the governorship seat to ensure the rapid growth and development of the state and district.

Imansuagbon, who spoke on the theme; “Education: Catalyst for Esan Growth” said: “Naturally, each senatorial district or its leadership reserves the inalienable right to participate and share in what is meant for the three.

“The preference among the three can only be by way of order of choice and not by exclusion of one or any of them. Edo South has made a choice as a senior brother and Edo North has equally made a choice as another brother. Both have completed unbroken eight years of two terms in office.”

CHANGE OF NAME

OBI

I formerly known and addressed as FANNY NEMBENARA JONAH now wish to be known and addressed as FANNY NEMBENARA OBI. All former documents remain valid.

General public take note.

NEW TELEGRAPH MONDAY, NOVEMBER 9, 2015

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Ishaku’s removal: Seven killed as violence rocks Taraba Sabiu Mustapha JALINGO

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t least seven people have been reportedly killed in a violence that erupted in Wukari, Taraba State, following the removal of the governor, Darius Ishaku, by the state elec-

tion petitions tribunal at the weekend.

Wukari is predominantly occupied by Jukun Christians and in recent years, the town has experienced several ethnoreligious clashes between the Jukun majority and the minority Hausa/Fulani.

New Telegraph gathered that Saturday's

Why I can’t carry all members along, by Adamawa Speaker Ibrahim Abdul Yola

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he Speaker of the Adamawa State House of Assembly, Rt. Hon. Kabiru Mijinyawa, yesterday gave reasons why he was not able to carry all members of the Assembly along in the discharge of his duties.

He said it’s almost impossible for him or any leader to carry all members of the House along.

Speaking in a chat with newsmen over alleged plan to impeach him for not carrying all members along, Mijinyawa, who denied any impeachment plot against him, said his inability to carry all members along

was normal.

“I can’t carry everyone along; it's normal in life that nobody can satisfy all. I carry some and drop others, particularly those that messed up. I have no regret concerning that,” Mijinyawa said.

He described the plan to remove him as mere speculation, adding that his leadership was intact.

“My leadership of the House is intact and there is no problem. I am equal to the task, all this talk about impeachment is nothing but speculation.

I heard the rumours just the way you newsmen heard it and even people from outside the state called me to find out about its veracity,” the speaker said.

IBB donates houses to El-Amin teachers Dan Atori MINNA

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ormer Head of State, Ibrahim Badamosi Babangida, at the weekend, presented keys to threebedroom apartments to teachers of El-Amin International School, Minna for their contribution to the growth of the school.

Babangida made the donation while speaking at the 20th anniversary of the establishment of the school at the weekend.

The keys were given to each of the five pioneer members of staff that had served the school in the last 20 years and still serving.

The former head of state also observed the

need to revamp the country's education sector, saying that it must not be left in the hands of government alone, hence the need for private intervention.

He further called for more private investment in education as a way of addressing the current decay in the sector.

It will be recalled that El-Amin International School was established in 1995 by the former First Lady, late Mrs. Maryam Babangida, as part of her contribution to the development of the education sector in the country and Babangida said her passion for the overall wellbeing and development of women and the girl-child, informed her decision to establish the school.

verdict of the state Governorship Elections Petition Tribunal, which proclaimed Aisha Jummai Alhassan, of the All Progressives Congress (APC) winner of the April 11 election, made her supporters in the town trooped out to celebrate.

Reports also said that the celebration of Ishaku’s removal provoked reactions from some youths, who were said to be his supporters, which led an attack in the early hours of yesterday.

Some residents of the town told our reporter on telephone that no fewer than seven people were

MINNA

O

ne of the sons of the late Emir of Borgu in Niger State may have been picked as successor to his father, Haliru Dantoro.

Reliable source close to the palace said the kingmakers made their decision in New Bussa on Saturday night,

pitching their tent with the son of the late Emir, Mohammed Sani Dantoro.

It was reliably gathered that the late emir’s son, Sani Dantoro, was unanimously selected to become the next emir of the kingdom.

Dantoro’s name has, however, been sent to the chairman of the king making body, the Baa-Karabonde, who

that the crisis broke out in the early hours of yesterday.

He said though the police had not concluded their investigations, the crisis might not be unconnected with the ruling of the tribunal.

“Yes, there was crisis in Wukari, but it is under control now. Security men have been deployed to the area and normalcy has returned to the town.

“Investigation is ongoing, but it is likely that the crisis is in connection with the verdict of the governorship election petition tribunal of Saturday,” he said.

He said that the state Commissioner of Police, Mr. Shaba Alkali, had moved to the area to ensure that peace was restored.

He warned that the command would come hard on any one bent on fomenting trouble in any part of the state.

Also, Alhaji Tanimu Danlele, the former ViceChairman of Wukari Local Government Council, said at least eight people lost their lives and more than 30 others were injured in the crisis.

He thanked security agents for restoring normalcy in the area.

L-R: Gombe State Governor, Alhaji Ibrahim Hassan Dankwambo; Emir of Gombe, Alhaji Abubakar Shehu Abubakar 111 and Corps Marshal, Federal Road Safety Corps (FRSC), Boboye Oyeyemi, during the decoration of the Emir as an Honorary Special Marshal in Gombe…at the weekend.

Pwajok never donated his kidney, says family

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he family of late Senator Gyang Pwajok, the Plateau State Peoples Democratic Party (PDP) gubernatorial candidate in the April 11 election, who recently died in an Indian hospital after a complication arising from a liver disease, has dismissed the rumour making the rounds that the senator died as result of donating his kidney to someone.

In a statement signed by the senator's brother, Mr. Samuel Dung Pwajok, on behalf of the family, said the late senator died of hepatocellular carcinoma. The family also

Borgu kingmakers may have picked late emir’s successor Dan Atori

killed in the attack while many others were left with varying degrees of injuries.

When contacted, the Taraba State Police Public Relations Officer (PPRO), Joseph Kwanji, confirmed the incident.

He, however, said no causality was recorded in the violence.

Meanwhile, the Taraba State police command, yesterday confirmed that normalcy had returned to Wukari town after the crisis that rocked the town.

Kwaji, the state Police Public Relations Officer (PPRO), told the News Agency of Nigeria (NAN)

has the final say on who becomes the emir.

According to the source, if the BaaKarabonde approves choice of Sani Dantoro, his name would be sent to Governor Abubakar Sani Bello of Niger State for approval.

Mohammed Sani Dantoro is a New Bussa private legal practitioner and businessman.

dismissed the rumour that the deceased's mother collapsed and died on hearing of the death of her son, advising rumour mongers to desist from spreading falsehood.

The statement reads in part: “The family wants to appreciate all the outpouring of emotions, solidarity and prayers since the demise of our son. We, however, wish to appeal that at this time of grief that the pains of this tragedy should not be compounded by certain actions and spreading of rumours that can only inflame the mood of the family and

many of the late senator's associates and followers.

“In this regard, the family wishes to re-emphasise that our son died of hepatocellular carcinoma and has at no time donated his kidney or any organ of his body to anyone as being speculated.

“We therefore appeal to the general public and the media to please verify all information before believing and circulating such, which includes another false one that the late Senator Pwajok's mother collapsed and even passed out on hearing the news of her son's death.”

The statement advised “these rumour mongers to respect our wonderful son and brother's memory and have compassion for the family at this time.

We equally request all to let his soul rest in peace.”

The family, however, announced that the body of the late senator would be laid to rest on Friday, November 13, at his residence, Nyam Shom Close, Atiku Street Rayfield, Jos, after a service of songs on Thursday, November 12, at Waye Foundation, Duwei village of Jos South Local Government of Plateau State.

Tambuwal promises mechanised farming in Sokoto

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okoto State government at the weekend said it will prioritise mechanised agriculture in order to revive the sector and make it meet the current and growing demands of the people of the state.

Gover nor Aminu Tambuwal said his government will provide initial incentive to top political office holders and individual

businessmen to own and operate large scale farms as a pilot scheme for the proper take-off of the planned mechanised farmlands.

Speaking yesterday in Sokoto, when he received the report of the committee set up to revive agriculture in the state; Tambuwal said the new policy will capture the need of small and large scale farmers.

He said it has becomes imperative for government to consider this option so as to boost revenue and ensure food security.

To ensure effective implementation of the report, Tambuwal said experts from the World Food Programme, the Federal Ministry of Agriculture and other related agencies will be invited to make inputs.

42 World | News

MONDAY, NOVEMBER 9, 2015 NEW TELEGRAPH

Remembrance Sunday marked across UK

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he Queen has led tributes to the UK's war dead at the annual Remembrance Sunday service in central London.

Thousands gathered at the Cenotaph memorial in Whitehall for a two-minute silence to honour those killed in World Wars One and Two and later conflicts. The monarch, Prime Minister David Cameron and the other main political party leaders all laid wreaths.

Events have also taken place around the UK, including in Edinburgh, where First Minister Nicola Sturgeon laid a

wreath.

This year's service at the Cenotaph was shorter than in previous years, in an effort to reduce the amount of time war veterans are made to stand. However, plans to make political leaders lay wreaths together in order to save time were dropped after some politicians argued they were being overlooked. The Queen was joined by royals including the Duke of York, Prince William and Prince Harry at the wreathlaying ceremony. Mr. Cameron was the first politician to step forward, followed by Labour leader Jeremy Corbyn.

Previous Prime ministers John Major, Gordon Brown and Tony Blair also paid their respects, along with religious ministers, military leaders and dignitaries from around the Commonwealth. The ceremony, which has changed little down the decades, was slightly shorter. This was in recognition of the advancing ages of the Queen, Prince Philip and many of the veterans. Together, they had an opportunity to reflect, to remember, and to be reminded of the fragility of human life. King Willem-Alexander of the Netherlands laid

a wreath after he was invited by the Queen to mark the 70th anniversary of the liberation of his country following the end of the World War Two. Veterans took part in a march-past and military bands played a series of pieces. A former soldier who lost his legs during the war in Afghanistan, Sgt Rick Clement, walked unaided in public for the first time at the service.

According to the BBC report, Cdr Duncan McClement, from the Royal Navy, said that the country must not forget those personnel serving today in conflicts around the world. "There

are also families for which this is the first Remembrance Sunday, who have lost loved ones on active service, and it's important that they, like all the others before through the great wars and all conflicts since then, are always remembered and never forgotten."

Robert Gale, who served as a landing craft signalman in the Royal Navy in World War Two, said "everybody around him was being called up" but he could not see himself as a soldier. He said: "We went to Normandy. We landed at Gold beach."

India's ruling party accepts loss in crucial state elections

I

ndian Prime Minister Narendra Modi's ruling Hindu nationalist party conceded defeat yesterday in a crucial election in one of India's most populous states.

By midday, India's election commission website showed that a self-proclaimed "grand alliance" of parties opposed to Modi's Bharatiya Janata Party had won 78 seats and was leading in more than 101 others, comfortably in sight of the 122 needed to control the state's 243-seat legislature. The election for control of Bihar was seen as a referendum on Modi's popularity, and he had crisscrossed the state addressing

The Queen laying the wreaths in memory of the fallen at the Cenotaph

Myanmar votes in first open election in 25 years

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olls have closed in Myanmar's general election - the first openly contested national election in 25 years after decades of military rule. Voting was brisk, with many people emerging smiling from polling stations.

Aung San Suu Kyi's National League for Democracy (NLD) is expected to win the most parliamentary seats, although she is barred from the presidency. The military-backed Union Solidarity Development Party (USDP) has been in power since 2011.

Large crowds gathered in Yangon as Ms Suu Kyi arrived to cast her vote. Wearing her trademark thazin flowers in her hair, she smiled and waved, but left without comment. Across the country, long queues formed

at some polling booths, with reports of people waiting from before dawn. "When I cast my vote I was very excited and so worried that I might do something wrong that my hands were shaking," said Kay Khine Soe, in Ms. Suu Kyi's Kawhmu constituency.

Voting in Yangon, Wuhan Datong said: "I am 57 years old.

I never participated in the previous voting since I had doubts over it. But the election this time is fair. So I have come to vote." Early indications, said an election official speaking to AFP, put turnout at 80%. Polls closed at 16:00 local time (09:30 GMT). About 30 million people were eligible to vote in the election in Myanmar, also known as Burma. Clear results are not

Nine killed in Burundi attack as police launch crackdown

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unmen executed nine people inâ&#x20AC;&#x2122;s capital hours before police launched house-to-house searches for weapons yesterday, amid international fears of fresh bloodletting in the central African nation.

Hundreds of police and soldiers ringed the opposition flashpoint Mutakura district of the capital Bujumbura early yesterday to start a widely feared crackdown on "enemies of the nation." Residents said security forces carried out house-to-house searches. City mayor Freddy

Mbonimpa said police were searching for "hidden weapons," insisting the raids were being "done professionally, because the police are using weapon detectors." The mayor said seven people were killed in an "execution" attack on a bar on Saturday night, adding that a probe had been launched to track the "assassins." Two others later died of their wounds. Witnesses said attackers stormed into the bar, forcing those drinking outside to enter and lie on the ground before opening fire.

expected later today. More than 6,000 candidates from over 90 parties vied to be elected to the 664-seat parliament in the first national elections since a nominally civilian government took power in 2011. However, 25% of seats are reserved for unelected military representatives, who are expected to side with the USDP. Ms. Suu Kyi, a former Nobel Peace Prize laureate, is barred from the presidency as the constitution disqualifies anyone with foreign offspring - her children are British.

The NLD must take 67% of all contested seats in order to gain a majority. Thursday, she said she would be "above the president" if her party won. Current President Thein Sein said he would

accept the election result. He cast his ballot at a school in the capital, Nay Pyi Taw, built in 2005 by the military. I watched people lining up in the dark long before the polling station opened in the Kyi Myin Daing neighbourhood, which straddles the Yangon River. As the sky brightened, the queue stretched to the end of this crowded street and around the corner. There were people of all ages: young women in jeans and T-shirts, older men and women in more traditional Burmese longyis, all clutching their pink national identity cards and white voter registration documents. The one thing nearly all of them have in common is that they have never before had the opportunity to elect a new government.

Plane crash: 11,000 tourists brought back from Egypt Russia

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ussia says it has flown 11,000 tourists home from Egypt in the past 24 hours, and more will return yesterday.

Moscow announced on Friday that it was suspending all flights to Egypt after a Russian plane crashed in Sinai - having initially dismissed suspicions that a bomb brought down the jet.

Dozens of special flights were put on for tourists wanting to go home. A remembrance service was held in St Petersburg for the crash's 224

victims, most of whom were Russian. The main bell of the northern city's St Isaac's Cathedral tolled 224 times - once for each of the victim. Meanwhile, another Russian plane with the victims' remains - the fourth since the crash on 31 October - landed at St Petersburg's Pulkovo airport, as the identification process continues. The UK has flown 3,500 travellers out of Sharm el-Sheikh, from where Metrojet Flight 9268 took off for St Petersburg on 31 October.

dozens of high-profile rallies.

No other BJP leaders were as visible through the election as Modi. By late Sunday, the BJP was leading in 34 seats and had 18. Nalin Kohli, a spokesman for the BJP, congratulated Nitish Kumar, the leader of the winning alliance. "The people of Bihar have given a decisive verdict," Kohli told NDTV news channel. Kumar, who has led Bihar for 10 years, tweeted that "the spirit & power of democracy has won."

Modi and his party swept to a stunning victory in national elections in May last year and went on to win a string on state elections soon after.

Kenya readies 10,000 police to boost security for Pope

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enya said yesterday it may deploy as many as 10,000 police officers to boost security during a visit by Pope Francis later this month, as the country readies for crowds of one million people.

Islamist rebels have staged a string of attacks in Kenya, including an April massacre at Garissa University in which 148 people were killed, and a 2013 assault on Nairobi's Westgate shopping mall that killed 67. "Security agencies continue to fine-tune plans to secure the city during a particularly busy period, and when we expect Nairobi's population to swell by an additional one million people," State House spokesman Manoah Esipisu said in a statement.

"Tentatively, some 10,000 police officers will be deployed," Esipisu said, adding that another 10,000 members of the government's youth service would help in crowd control. The pontiff will be in Kenya from November 25 to 27, before spending two days in Uganda and travelling to the Central African Republic (CAR), where his trip will end on November 30, according to a Vatican itinerary.

The three countries which have significant Catholic communities have been troubled by civil conflicts and violence, leading to increased security concerns surrounding the pope's visit.

NEW TELEGRAPH MONDAY, NOVEMBER 9, 2015

Sport News

International Sport

44

Falconets beat S’Africa, qualify for World Cup

Eagles Focus

PSG need Ronaldo to conquer Europe – Thiago Silva

Ideye, Igbonu, others on target

Football

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Sport

43

Enyimba clinch record seventh title

Did you know?

That the most goals scored in a World Cup match was 10 by Hungary against El Salvador in 1982.

Swaziland vs Nigeria

Friday schedule worries Oliseh Adekunle Salami

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uper Eagles head coach, Sunday Oliseh, is worried stiff over the Friday date of the forthcoming Russia 2018 World Cup qualifier against Swaziland.

The second round first leg match takes place in Samholo National Stadium in Swaziland on Friday.

The Eagles are expected to begin training on Monday (today) as there is limited time for training sessions.

Authoritative sources revealed to our correspondent that Oliseh was targeting not less than six training sessions, something difficult to achieve within three days of training.

The Eagles are expected to travel with a chattered flight from Abuja early on Thursday with the hope of having a training session at the venue of the match in the evening.

“The players are expected to come in on Sunday and Monday while the first full training session will be on Tuesday but now it is tough because the match is on Friday and the last training is on Wednesday,” our source said.

However, Super Eagles media officer, Toyin Ibitoye, told our correspondent that the training schedule could be altered because of the short period.

“The window starts Friday and we are billed to play. The coach might engage the players to train twice daily in some cases for better blending,” he said.

Ibitoye also added that the team would move straight to Port Harcourt from Swaziland for the second leg match.

“It is going to be a tight schedule but we expect the coach to fashion out a way especially as we are dealing with professionals who are also used to situations like this,” Ibitoye added.

The Eagles are billed to have their first training session on Monday depending on the number of players in the Abuja camp of the senior national team.

Nigeria’s Ahmed Musa in action during the AFCON 2015 qualifiers against South Africa in September last year

Jighere emerges Scrabble world champion

The Sport Team Adekunle Salami Group Sport Editor

Emmanuel Tobi Assistant Sport Editor

Ifeanyi Ibeh Sport Correspondent

Ajibade Olusesan Sport Correspondent

Charles Ogundiya Sport Correspondent

© Daily Telegraph Publishing Company Limited

Jighere

J

ighere Wellington of Nigeria is the new scrabble world champion.

He achieved the historic feat in Perth, Australia, in the early hours of Saturday, after he crushed Lewis Mackay of England to become the world champion.

The victory came in a blistering manner when he walloped Lewis 4-0 leaving no room for any comeback.

The duel monitored by the cream of world scrabble kicked off around 2am Nigerian time and ended about six hours later.

Online platforms were agog with blow-by-blow analytical steps and moves by the two aficionados, as Nigerian scrabble enthusiasts kept vigil to follow the event.

The Nigerian Scrabble Friends, a Facebook forum for lovers of the game, kept vigil at the Apapa office of the convener, Segun Durojaiye, to download the streaming of the finals.

Fashola Kayode, a board member of the Nigeria Scrabble Federation, said with the victory Nigeria proved to the whole world that she was not just 11 times African champions but was also the best scrabble playing nation in the world.

Jighere has been hovering around the world crown for years and has now proved to the world that he was not a fluke all along.

With this victory Nigeria will gain more slots in terms of representations at subsequent world tournaments.

Nigeria also emerged as the Best Team of the Championship as her six representatives

gave a good account of themselves with five of them placing in the top 50.

An elated Sulaiman Garba Gora, President of the Nigeria Scrabble Federation, said years of dedication, perseverance and industry had paid off.

“For us, this is one of the greatest days in the history of Nigerian sports and we at the Nigerian Scrabble Federation are proud to produce a world champion after years of hard work and perseverance. It had to happen one day. Today is that day,” Gora said.

A board member and spokesperson for the Nigeria Scrabble Federation, Paul Bassey, hailed Jighere, other players, board members and management of the NSF for the historic feat.

“The DG National Sports Commission (Al-Hassan Yakmut), our patron, Senator Godswill Akpabio, and indeed all other members of the scrabble family are elated. We are waiting for the triumphant return of the history makers,” said Bassey.

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Sport News

MONDAY, NOVEMBER 9, 2015 NEW TELEGRAPH

Falconets beat S’Africa, qualify for World Cup Ifeanyi Ibeh

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igeria’s Falconets beat their South African counterparts 1-0 in Johannesburg on Sunday to qualify for next year’s FIFA U20 Women’s World Cup in Papua New Guinea 3-1 on aggregate.

Falconets won the first leg in Abuja 2-1 with Chinwendu Ihezuo scoring on the half hour mark before the

Falconets added a second a minute into first half added time when winger Uchenna Kanu’s shot was turned in by a Basetsana defender.

The Basetsana however earned a penalty in second half added time with Gabriela Salgado tucking away from the spot.

But there was no fight back from the South Africans on Sunday as Ihezuo struck after 16 minutes in Johannesburg

to secure a deserved win for the Nigerian ladies.

The Falconets will now fly Africa’s flag at next year’s FIFA U-20 World Cup in Papua New Guinea where they would be hoping to finally wrap their hands on the World Cup after two near misses.

The Falconets reached the final at both the 2012 and 2014 FIFA U-20 World Cups only to be upstaged by Germany on both occasions.

NBA: Ezeli shines in Warriors win Ifeanyi Ibeh

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Ezeli

estus Ezeli on Saturday night (Sunday morning Nigerian time) scored 10 points with 12 rebounds in 22 minutes in the Golden States Warriors 103-94 win over the Sacramento Kings.

It was the Nigerian’s fourth straight double-digit scoring effort and second double-double of the season.

Ezeli, since the injury-induced absence of starting centre, Andrew Bogut, has started the Warriors last five games and is averaging 10.3 points, 6.2 rebounds and 1.8 blocks in 19.7 minutes per game.

His PER (Player Efficiency Rating) of 23.3 is also the second best on the team, behind current NBA MVP Steph Curry. The PER is a rating of a player’s per-minute productivity.

Bogut is currently working his way back from a concussion but there is a chance that Ezeli could remain the starter even when the Australian returns, according to reports.

Bogut has played only a total of 19 minutes so far this season yet the Warriors have looked unbeatable so far and have won their opening six games of the season.

While Curry’s incredible start to the campaign is the main reason for that, Ezeli has had a big part in it as well.

Ezeli has shown off his defensive abilities and caught numerous lobs for dunks while starting the last five games and facing the likes of Anthony Davis, Dwight Howard, Marc Gasol and DeAndre Jordan.

The 26-year-old, 6-foot-11 Ezeli is also more athletic than the often lethargic Bogut.

VCN U-15 Cup: Fortune smiles on Fortune Academy Ifeanyi Ibeh

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goal in either half from Gafaru Lawal and Babajide Michael were all Fortune Football Academy needed to overcome TAO Football Academy and emerge winners of the second edition of the annual VCN Sports Limited U-15 Soccer Challenge on Saturday at the legacy pitch of the National Stadium, Lagos.

The exciting match had in attendance a number of sports dignitaries including former Nigeria international, Joe ‘Jogo Bonito’ Erico; for-

mer Golden Eaglets, Flying Eagles and Super Eagles handler, Fanny Amun; as well as the liaison officer of the National Sports Commission, Tayo Oreweme.

The tournament’s sponsor, Chief Victor Nwaribeaku, was also in attendance and presented the trophy and the accompanying N200,000 star prize to the victorious Fortune FA side, who are based in Oshodi.

“It is my hope that talented footballers discovered in this tournament would go on to represent Nigeria at various levels and also play for great clubs in Nigeria and abroad,”

said an excited Nwaribeaku, who promised to make next year’s event bigger.

TAO FA, who are based in Ikotun, got N100,000 for their efforts, while BORA FA, who won the third-place match after defeating Smart Strikers 3-1 on penalties, got the sum of N50,000.

TAO FA’s Azeez Agbaje finished as the tournament’s top scorer with five goals, while his teammate, Adewuyi Kadri, emerged as the tournament’s MVP. Fortune’s Innocent Chinedu was named the tournament’s best goalkeeper, while Orede FA emerged as the Best Behaved team.

Falconet’s defender Glory Ogbonna, stops a South Africa’s striker during the 2016 FIFA U20 Women’s World Cup qualifier

Quadrangular Games

Sterling Bank partners LLTC

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terling Bank Plc. has reiterated its commitment to supporting the growth of sports in Nigeria. The Bank’s Managing Director, Mr. Yemi Adeola, gave the assurance at the press conference to announce a commencement of the various activities lined up for the 2015 Quadrangular Games organised by the Lagos Lawn Tennis Club Four of the top sports clubs in Lagos - Apapa Club, Ikoyi Club 1938, Lagos Country Club and Lagos Lawn Tennis Club - will take part in the 21st edition of the annual Quadrangular Games.

The games will start on November 15 and end on November 21.

Mr. Adeola who was represented by Mr. Lateef Aliu, the Deputy Head Channel Operations of the Bank, said the Bank’s involvement was one of the company’s ways of giving back to society. “We are happy to be associated with the games.

He said: “If you look at the proud history of the clubs involved in these games, you will know that it is a worthwhile investment. “We have come to help them create awareness for the games and hopefully we can

have a long lasting partnership.”

President of LLTC, Rotimi Edu, described the Quadrangular Games as the only and major pivot of sporting relationship amongst the Lagos Lawn Tennis Club, Ikoyi Club, Lagos Country Club and Apapa Club “that sport lovers look forward to attending”.

While commending Sterling Bank for the sponsorship of the conference, the LLTC President, stated that the facilities at the Club had been upgraded in readiness for the competition.

Describing this year’s edition of the games as a special one, the chairman, Local Organising Committee, Prince Bowo Olateru-Olagbegi, explained that the games coincided with the 120th anniversary of the host club, the LLTC. Olateru-Olagbegi said: “We have put in place a cultural night to bring out the richness of our culture in the country among other things. We are expecting 88 members to compete in the tennis event while 36 members are expected to slug it out in table tennis.

“There will also be squash, darts, ayo, billiard and snooker, scrabble, chess, tug-of-war, fivea- side football, amongst others.”

‘Copa Coca-Cola will be bigger next year’ Charles Ogundiya

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L-R: Deputy Head, Channels Operations, Sterling Bank Plc, Mr. Lateef Aliyu; President, Lagos Lawn Tennis Club (LLTC), Mr. Rotimi Edu and the Chairman, 2015 Quadrangular Games Mr. Bowo Olateru-Olagbegi, during a press conference organised by Sterling Bank on the 2015 Quadrangular Games ...at the weekend.

ponsors of the annual Copa Coca Cola Football tournament have promised a better and bigger competition in 2016 after a successful one this year.

Speaking with New Telegraph during the Lagos final on Friday at the Dairy Farm School, Agege, the Senior Brand Manager, Coca Cola, Gbolahan Sanni, said the 2015 edition was used as a test after it has been off the scene in the last two years.

“We decided to stage a comeback with this by having 10 finals in some cities namely - Ibadan, Calabar, Abuja, Benin, Ilorin, Port Harcourt, Enugu, Aba, Owerri and Lagos,” he said.

“As you can see it is a football event, it is about young people, Coca Cola recognises that football and music are the passion points and this event provides us an opportunity to meet them at their passion points.

“For this year we ended it at state championship level but next year we would have a national competition for Copa where we would have the national finals and a national champion.

“Copa has been off for about two years now and this is coming back after quite a while; we just wanted to start first of all by going grassroots, giving more teams the opportunity and then next year we come back with a big national finals.”

International Sport

NEW TELEGRAPH MONDAY, NOVEMBER 9, 2015

45

PSG need Ronaldo to conquer Europe – Thiago Silva

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aris Saint-Germain defender Thiago Silva believes Real Madrid star Cristiano Ronaldo could be the missing link in the Ligue 1 champions’ quest for European success.

The Portugal international has a contract with Madrid until June 2018, but is nonetheless continually being linked with a move elsewhere.

Ronaldo was seen talking to PSG coach Laurent Blanc after Madrid’s 1-0 Champions League win over the French gi-

ants in midweek, further fuelling speculation he could continue his career in the capital.

Thiago Silva recently revealed he hopes PSG will lure the 30-year-old to France and has now added his belief the prolific attacker could help them to European glory.

“It is always great to play with big players and Ronaldo is the best player in the world,” Thiago Silva said. “If the club decides to pursue him, the players would be happy, too. He is a great player, someone who

would be vital for any team, and especially for PSG who dream of winning the Champions League with great players.

“I don’t know what happened between him and Blanc, because the coach did not tell the rest of the squad about their conversation. But I am hopeful. I think Ronaldo could join PSG. “He already speaks French, better than me, and he would have no difficulties communicating with the rest of the squad if he joined us next year.”

More to Chelsea slump, says Lampard

Lampard

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ormer Chelsea midfielder Frank Lampard believes the Premier League champions’ poor start to the season is far from just a blip.

Following Saturday’s 1-0 loss at Stoke, the title holders are languishing in 16th position with just 11 points from their opening

12 games of the campaign, and Lampard knows how important it is for Chelsea to get out of their rut as soon as possible.

“This is far from a blip, they are losing games regularly,” Lampard told Sky Sports. “They need to turn the corner very quickly. They can’t dwell on it, they need to get out of it and put it to bed.”

However, the 37-year-old who now plays his football for New York City in the MLS - said he saw signs against Stoke that Chelsea are on the right path.

“I saw glimpses of what they need to turn the corner,” he said. “I couldn’t fault their performance, they just didn’t get that little bit of luck to get the result. They need to get results, simple as that.”

Lampard also pointed out

Mazembe claim fifth African crown

EPL RESULT Aston Villa 0 – 0 Man City Arsenal 1 – 1 Tottenham Liverpool 1 – 2 C. Palace Bournemouth 0 – 1 Newcastle Leicester 2 – 1 Watford Man United 2 – 0 West Brom West Ham 1 – 1 Everton Stoke 1 – 0 Chelsea

PREMIER LEAGUE TABLE Team

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Pts

1 Man City

12

26

2 Arsenal

12

26

3 Leicester City

12

25

4 Man United

12

24

5 Tottenham

12

21

6 West Ham

12

21

7 Southampton

12

20

8 C. Palace

12

19

9 Everton

12

17

10 Liverpool

12

17

11 Watford

12

16

12 Stoke City

12

16

13 West Brom

12

14

14 Swansea

12

13

15 Norwich

12

12

16 Chelsea

12

11

17 Newcastle

12

10

18 B’mouth

12

8

19 Sunderland

12

6

20 Aston Villa

12

5

T

P Mazembe claimed their fifth CAF Champions League title on Sunday after sealing a 4-1 aggregate victory over a weakened USM Alger in the final of Africa’s most prestigious club competition.

Following their 2-1 away victory in Bologhine in the first leg, the ‘Ravens’ enjoyed a 2-0 win in front of their home crowd in the return clash courtesy of second-half goals from Tanzania and Cote d’Ivoire internationals Mbwana Samatta and Roger Assale.

Mazembe were by far the better of the two sides in the first 30 minutes of the game, dominating possession against a well-organised Algerian outfit who were trying to catch the locals out on the counterattack.

However, the Congolese failed to convert their many opportunities, lacking efficiency in front of goal.

But it was just a matter of time for Patrice Carteron’s men, with Samatta putting his side ahead from the penalty spot on 74 minutes. Substitute Rachid Nadji came very close to equalising 10 minutes later, but it was the locals who ultimately added to USMA’s misery through Assale in added time, after another great move from Samatta.

that it was important for Chelsea manager Jose Mourinho to stay positive despite the increasing pressure.

“He will get to work in the week, but there is only so much he can do in training and tactically,” he said. “He has to be positive because there is so much being thrown at Chelsea, there are players out of form and low on confidence, you can see that.

“They need everything to be behind them in a positive way and look forward.”

Thiago Silva (right) challenging Cristiano Ronaldo for the ball

Venus jumps to seventh spot after Zhuhai win

F

ormer world number one Venus Williams scraped past Karolina Pliskova to win the WTA Elite Trophy on Sunday, the American claiming her third title of the season as she secured a return to the top 10 for the first time in four years.

The top seed was forced to dig deep into her vast reservoir of experience to stave off Plis-

kova’s challenge and emerge a 7-5 7-6(6) winner against the gutsy Czech.

“Seven weeks here in Asia and now I feel like it’s my home,” Williams told the WTA website.

“I’m so excited to win the first trophy in Zhuhai. All the players felt so welcome here and we appreciated all of the enthusiasm.

To see every seat filled for every

match, that’s all the players and tournament could hope for.”

For the first time since 2008, Williams won three titles -- at Auckland, Wuhan and Zhuhai -- in a season and the 700 points she earned on Sunday helped the 35-year-old jump four places to world number seven in the new WTA rankings.

Williams was last in the top 10 in 2011.

Dark days for athletics, says Coe

W

Coe

orld athletics president Sebastian Coe said he reacted with “shock, anger and sadness” to last week’s allegations of bribery, extortion and doping cover-ups and said the sport faced a “long road to redemption”.

Coe, elected as the president of the sport’s IAAF governing body in August, has been dealing with the latest crisis to hit athletics after French authorities placed his long-serving predecessor Lamine Diack under formal investigation on suspicion of corruption and money laundering.

Senegalese Diack, 82, is al-

leged to have received more than one million euros in bribes in 2011 to cover up positive doping tests of Russian athletes.

Briton Coe told BBC Radio Five Live on Sunday: “I was in clear shock and a great deal of anger and a lot of sadness. These are dark days for our sport, but I’m more determined than ever to rebuild the trust in our sport.”

“It’s not going to be a short journey and the day after I got elected I started a massive review, and understandably in light of the allegations that were made this week that review has been accelerated.

Buhari hails scrabble king, Jighere, Falconets Anule Emmanuel ABUJA

P

resident Muhammadu Buhari on the phone yesterday to Perth, Australia, felicitated with a Nigerian who has emerged World Scrabble Champion, the first ever from Africa.

Wellington Jighere, 36, defeated Lewis Mackay of England by 448 points to 426 to win the championship which was competed for by 450 players

from around the world.

A statement by the special adviser to the President on media and publicity Femi Adesina quotes him as saying: “I called to rejoice with you over your performance. You have done the country proud, and we are very happy. Please, pass my congratulations to other members of Team Nigeria,” President Buhari told Jighere.

The statement said Jighere was delighted at the phone call from the President, and

pledged to bring more glory to his fatherland.

Shortly after President Buhari got off the phone, news got to him that the Under-20 female football team, the Falconets, have qualified for the U-20 Women’s World Cup after beating the Basetsana of South Africa by a lone goal in an away game.

“This is a clear case of the indomitable Nigerian spirit.

Such will soon be evident in all aspects of our national life,” President Buhari said.

46

Sport

MONDAY, NOVEMBER 9, 2015 NEW TELEGRAPH

Enyimba clinch record seventh title Charles Ogundiya

T

en-man Enyimba on Sunday won a record seventh Nigerian league title after playing out a goalless draw against visiting Warri Wolves.

The People’s Elephant, who last won the league title in 2010, were previously tied with Enugu Rangers on six titles but have now gone one better than their Eastern Nigeria rivals, whose last title win arrived 31 years ago, in 1984.

Enyimba needed just a point heading into Sunday’s final home game of the season against fellow title aspirants Wolves and they did just enough to get the job done in front of over 40,000 fans at the Enyimba International Stadium in Aba. Enyimba h ave clinched the championship with one round of matches to spare as they have an unassailable 69 points – six points clear

Basketball: First Bank seal ACC final round ticket Ifeanyi Ibeh

F Kingsley Sokari (left) was in action for Enyimba on Sunday

of second-placed Wolves.

The former two-time African champions will now look forward to next year’s CAF Champions League where they will be hoping to add another continental crown to their back-to-back successes of 2003 and 2004.

They could be joined in

the Champions League by Wolves who are expected to end the season in second place with a home win over already relegated FC Taraba on the final day of the season.

In other matches played on Sunday, Bayelsa United lost 2-1 at home to Sunshine Stars, while Nasar-

awa United also won on the road, defeating Ifeanyi Ubah 2-0 in Oba. Dolphins beat Heartland 2-1; El Kanemi defeated Wikki 1-0; Kano Pillars edged Akwa United 1-0, while Sharks did likewise to Kwara United in Port Harcourt. Lobi Stars also defeated Enugu Rangers 2-0.

ormer African champions, First Bank, on Sunday secured a spot in the African Champions Cup for Women after defeating Energie of Benin Republic 107-24 at the ACCW Zone-3 qualifiers in Cotonou.

With two games left in the zone-3 qualifiers, First Bank are through to the ACCW starting in Angola later in the month alongside Nigerian champions Dolphins.

Nkechi Akashili led the Elephant Girls in the scoring department with 33 points. Guard,s Upe Atosu and Chidimma Nwakamma, also scored 24 and 13 points respectively, while centre, Chioma Udeaja, scored 11 points and grabbed 10 rebounds for a double-double.

The Elephant Girls who defeated the Beninese in the

first meeting last Thursday now boost of a 3-1 record.

Their only loss was at the hands of Dolphins, who they will meet in the reverse fixture on Tuesday.

“Our goal is to pick one of the two available tickets for the final round in Angola but winning the zone-3 championship will be a morale booster for the team going to Angola,” said First Bank coach, Peter Ahmedu. “The players and technical crew have realised some mistakes we made in the 71-83 points loss to Dolphins on Saturday and its good we are meeting again on Tuesday.

“They (Dolphins) should not rejoice yet as Tuesday’s game will prove who the better side in the zone is. But our utmost goal is to attempt winning the continental title for Nigeria once again and I know we can achieve it,” added Ahmedu.

Tennis: Djokovic sees off Murray to win in Paris

N

ovak Djokovic won his sixth Masters title of the year on Sunday when he defeated Andy Murray 6-2 6-4 in Paris to put the finishing touches on one of the greatest years in tennis history.

The top seed won

the series-closing title for an unprecedented third straight year and a fourth time in all as he dominated the Scottish second seed from start to finish in 1hr 32mins.

The win brought Djokovic’s final regular

season win-loss record to a stunning 78-5 and took his unbeaten run, stretching back to August 23, to 22 matches.

He will now go on to the World Tour Finals in London having won three out of four Grand Slam titles

and six out of nine Masters 1000 series titles in 2015.

“It was a tough match today and I wish Andy all the best for the rest of the season both in London and the Davis Cup final. I know you want to do well,” Djokovic said.

Djokovic

EAGLES FOCUS

Ideye, Igbonu, others on target

O

Ideye (right)

Ikeme returns, Musa, Ighalo fire blank

S

uper Eagles goalkeeper, Carl Ikeme, played for the first time in two months as his Championship side, Wolverhampton Wanderers, played a goalless draw at home to Burnley at the Molineaux stadium.

Ikeme who had not featured for the side since their 3-0 loss to Middleborough in September replaced Emiliano Mar-

tinez in the 57th minute of the barren home draw last weekend.

In the English Premier League, Odion Ighalo could not add to his seven goals as his side Watford lost 2-1 to Leicester City on Saturday.

Ahmed Musa was in action for 90 minutes but he could not prevent CSKA Moscow from losing 2-1 to Kranador. The Eagles captain has six league goals to

his credit already.

Mikel Obi was not in action for Chelsea as the Blues slumped to another defeat at Stoke. Osaze Odemwingie was not also in action for Potters in their 1-0 win over the defending champions.

Victor Moses played for 90 minutes as West Ham drew 1-1 with Everton.

In Turkey, Rizespor shocked Galatasaray

ut-of-favour Super Eagles player, Brown Ideye, scored his fourth goal in Greece as his side, Olympiacos, defeated Iraklis 2-0 on Saturday.

Ideye hit target in the 54 minute to confirm Olympiacos’s victory.

Sylvester Igbonu scored as his side UFA defeated Amkar Perm in a Russian league game on Saturday.

Igbonu netted in the 48th minute to give his team a 1-0 lead and take his goals’ haul to three.

Erstwhile Eagles star, Michal Eneramo, scored in Sivasspor’s 3 - 0 win over Gaziantepspor on Sunday.

The Nigerian who bagged a 55th-minute yellow card scored in the 66th minute, three minutes after Burhan Eser put his club in front.

Nigeria U-23 striker Junior Ajayi remained unstoppable in front of goal for his table-topping Tunisian side CS Sfaxien after he scored in a 3-1 win over Etoile Metlaoui on Saturday.

CS Sfaxien remain top of the table with 21 points from seven games.

Nigerian forward Jude Nworuh scored his third goal for Israeli club Bnei Yehuda after he scored a brace in a

with a 4-3 win and Nigerian defender Godfrey Oboabona played a role in the famous victory. He featured for 90 minutes in the encounter.

Ogenyi Onazi was not lucky as he was rooted to the bench in Lazio’s 2-0 loss to Roma but defender Leon Balogun played all 90 minutes in his eighth Bundesliga game of the season for Mainz who defeated Wolfsburg 2-0 at the Coface Arena.

Ikeme

2-2 draw at Bnei Sakhin.

Nworuh scored the opening goal in the sixth minute to give his side a 1-0 lead on Saturday.

George Akpabio also has scored his first goals for his Turkish second division side Yeni Malatyaspor.

The one-time Nigeria U20 invitee has gone nine games without a goal, before he ended the drought when he scored in their 2-0 win at Sanliurfaspor on Saturday.

Christian Madu scored Trencin’s first goal in their 3-1 win over DAC 1904 Dunajska Streda on Sunday.

Special | Features 47

NEW TELEGRAPH MONDAY, November 9, 2015

Eberekpe Ogbo

The Abia stone hearts

I

s this man fated for great things?

From his kinsmen, and recently, one Sam Omatseye. Calls have been coming in and the phones have been beeping non-stop since one or two articles about this man were published, and the contents have been directed so stoically at one man. And you begin to wonder what the matter is, especially when the venoms are coming from the man’s own state of Abia. The stones thrown at this man range from distrust, lack of confidence in him, that of betrayal of his people to other pettiness. You try to want to want to ignore some of these jibes because a majority of them are from the misinformed from Aba and Aba Market and environs whose concerns are centred on what they are told without the bother to question and analyse issues since all madness should go unchallenged while we must try to avoid it, but, they are worth discussing, you soon realise, because one begins to wonder the origin of all this madness.

What has the man done? In a country where people are so petty and religion crazy, not because of the beauty of religion but for their own selfish gains, this bitterness at one man, especially from his kit and kin, can only mean the man possesses what appears to be a threat to them for a greater political future as his economic sustenance is already established and cannot be punctured and he is not ready to act in line with the prepared and doctored script that is myopically beneficial or he is actually the unforgiveable villain who must be excommunicated.

But reading through the SMS and filtering through the calls, the evidences point to the fact that the man is getting the poisonous jabs because he has been handed a script and he has always refused to act it but chooses to be himself at all times allowing to be guided by his conscience and intuition, which has resulted in some of the jealousy aimed at him. Perhaps being practical and calling a spade a spade and not ‘doing business as usual’ is his one and greatest sin for which some Nigerians, notably his brethren from Abia and the uncreativity of an Omatseye, would not want to see anything good come to the man. But can one’s kinsmen be so obtuse with so much bitterness judging from the contents of those SMS and calls that they would not pause to take a look at the entire and true picture of every happening and ask themselves what direction they are headed in the general make up of their country and begin to map out a choicest choice? One does not want to think the familiar Abians are small minded because those messengers and callers did not indicate such. They were just some angry lot, but why would they be angry and with the magnitude their anger has attained?

Not only has the man been perceived to have offended his kinsmen therefore the various gang-up, his utterances have not failed to question the character of religionists and the so-called custodian of culture and tradition, especially during his time as the governor of the state.

When he said that state money should not be given out freely without being appropriated for, that Nigerians should leave religion alone, and face good governance and that governors should be banned from making donations to the various religious houses in the country for the sake of gaining cheap political relevance, it was clear that it was not going to go down well with both the gov-

Kalu

ernors and the religious chief priests who have considered the creator to be dead and they have risen to be his appointee and he was going to be singled out amongst the characteristic political sycophants here present in the country’s turf and giving the beatings.

Dr. Orji Uzor Kalu was relatively unknown to Nigerians when he borrowed that thirty-five dollars from his mother at the age of 19 and ventured into business many years ago, and with that little capital and his drive to succeed, has become the founder of Slok Holding, a West African conglomerate with interests in shipping, banking, oil trading, manufacturing and the media and until recently when he was listed in the Forbes list of Africa’s richest.

Perhaps he would have stayed put to manage his business without having a public thought on politics-the Nigerian kind of politics, that is, where thoughtlessness and small mindedness are the order of the day-like the Dangotes and Mike Adenugas of his country knowing the nature that characterised himbeing practical to a fault? But he would be pricked-any sensible person with his kind of wealth would be when coming from a deprived background and having tasted the bitterness of a society that worship mediocrity and shies away from all challenges that have to do with reason and decency.

In 1998, he was moved on his way from Lagos to his country home. In his car on that road between Ngwa High School and Aba, a less than three kilometres drive, when he could not make his way home and had to spend seven hours on the road; there and then he knew service had beckoned on him and he was not prepared to give up on the idea until he was submerged into the dirty water of Nigerian politics and came out baptised.

And if he had done his research very well and consulted with the likes of Wole Soyinka who would have attested to it, maybe he would have succeeded and stayed the present venoms he faced because he would have known that in his country activism and being pragmatic and truthful are a curse. But at the end of the day, the same activism and truth and pragmatism the country is ever afraid

of would eventually come as the rallying point for the only rescue the country shall be depending on for its restoration.

As at the time he was governor of his state, the state got paltry sums of between 200 million naira and 600 million every month and those amounts would go up to one billion naira from November 2004 and later one and a half billion naira in 2007 when he eventually left office on completion of his tenure. As at when he left, the wage bill of the state was one billion naira and he had to see that that money was well utilised and accounted for and not to be freely distributed to political hangers-on and claimant of traditional and cultural stools when policies needed to be made and projects that would benefit the public needed to be executed.

And with that little sum from the government and personal contribution, he was able to get to the hinterland, and areas like Nwagu road, Igwere Street, Ibadan Street, Okpuoya, Ngwa road, Aba second bridge were developed. All these were executed without any external loan except an overdraft from Guaranty Trust Bank to the tune of two billion naira that was repaid before he left office. Yet, he is regarded as a villain who must be caught and stoned to death because many of the roads that were constructed during his time as governor of that state are now being dilapidated. But for God’s sake, those roads are not the only roads in the country that are dilapidated; take a walk to the suburbs and hinterland of the country, the story is the same; not because of one man because there is no maintenance culture. The roads that were constructed and maintained by one governor while he was in office should be carried on by successors after him!

One of the beginnings of his many problems was the money allocated to his state as governor. He was seen as the money making god or the keeper of the state’s money and he refused to distribute it to the elite and some traditional rulers because he wanted to curb the corruption that had crippled the state where some of the rich indigenes felt that the allocation to the state was their right to have at the detriment of the masses and the development of the state. But how would those people know that as gover-

nor then, the issue of state money was not his major concern and that that aspect was delegated to his Chief of Staff while he concentrated on policy formulation and its execution and made sure the fund went to the appropriate areas?

Corruption was high in the state and he never wanted it and there were many who felt that because they were in politics the riches of the state must go to them and he was against this and it would mark the beginning of the bitterness for him. Even to this very day.

The cult of hatred for him would reach its peak when as governor of Abia State, the government had to challenge some policies of the federal government in the Supreme Court during the Olusegun Obasanjo and he, Obasanjo took it personal. The state had filed about 32 cases in the Supreme Court against the Federal Government. This had been done to defend their rights as a free state and as a federating unit since he was not appointed by one man in the person of Obasanjo but voted for by the people of the state, who must command his responsibilities and duties. The reason for such actions was to test some of those laws to let the then president know that there was little independence between the state and the Federal government, a position he still holds to this day regardless of the many stones and unprintable names directed at him.

In an interview, the Abia Chief had this to say to debunk the “Mamacracy’’ claim “I came as a businessman. My conscience is clear, I am not a thief and I can never steal public funds because it’s not the right thing to do. I have never done it, because I am blessed by the little I have and I have been a hardworking man all my life. I work for every penny. That is why when I was governor, politicians and elders wanted me to give them money every month, I told them it’s not obtainable. They blackmailed me saying, I was giving my mother the money. None of my brothers had contracts. Let the present governor bring the contracts given to any of my brothers by me. It’s not true because I know the consequences of not being upright. I have been in corporate institutions holding positions as chairman of Commerce Bank, on the board of First Bank, Hallmark Bank, Unipetrol, and Bauchi Polytechnic amongst others.

I have been at every facets of corporate Nigeria, so I understand corporate culture and governance, so anyone coming to blackmail me is a joker. I am answerable for everything I did as a governor.”

And he would go further, “I can recount those I contested the governorship elections with that didn’t win, those I denied going to the Senate, those I denied traditional titles and those who contested against T.A Orji when he was in jail. They feel they can’t forgive me for even contesting elections and I managed to get support for a man who came out of jail. So, they all have these grudges against me and I can call them by names. This is the reality on ground and everybody knows.”

So why is this man so badly hunted?

One reason can be put forward; Nigeria is a polity that is rooted in irrationalities where to be rational and responsible to the call to service as required by politics and the constitution is seen as the wrong thing to do because some people still think their poverty or the furtherance of their riches can be assuaged by putting pressure on whoever is presiding over the state or country to meet that need with a corrupt infused society.

•Ogho wrote via eberekpewhyte@yahoo.com

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God does not play dice with the universe – Albert Einstein

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Physics and Lessons from Albert Einstein Tunji Olaopa

O

n Tuesday 6th of October, the Nigerian Institute of Physics (NIP) conferred on me its coveted Award of Excellence during the NIP 38th Annual Conference held at Olabisi Onabanjo University, Ago Iwoye. In my acceptance speech, I had occasion to reflect on one of my heroes, the renowned Nobel Laureate and mathematical physicist, Albert Einstein and his influence on my intellectual development.

Permit me therefore to share with you how Physics and the ideas by great Physicists have influenced my personal experiences and helped shape the person that I am today. A reflection on how my intellectual development was shaped by lessons from the great genius mathematical physicist, Einstein.

Being nominated for an Award of this kind is a most pleasant surprise to me as it should be to many who are familiar with my disciplinary orientation as a public intellectual. Just like the ancients wondered whether Saul who later became king in the era of Prophet Samuel in the Bible was also a prophet, some would rightly wonder, what has Tunji Olaopa got to do with physics? I suspect that most people in the Nigerian Institute of Physics (NIP) must also have wondered too. I would never have imagined that such an illustrious gathering of theoretical beings like those who populate the Nigerian Institute of Physics would ever have the time in the world to notice mere mortals like me who are involved in the drudgery of making the wheel of the Nigerian state run. But it seems as if I had been dragged by the force of an electronic/digital policy compulsion into the hallowed company of those who have the likes of Isaac Newton and Einstein as forebear and the current Lucacian Professor of Theoretical Physics at Cambridge, Stephen Hawking, as contemporaries.

It was the very thought of Hawking that set me thinking when I received the notification for this Award. I have received several awards, most of which have some kind of connections with what I am and what I do as a civil servant, a public administration scholar and a reformer. In some published articles—collected in my forthcoming book, Civil Service and the Imperative of Nation Building—I raised the question of what it means to honour a reformer, and how those honours factor into what reform itself means. In other words, I asked whether rewards and honours and awards ever capture the essence of the reform business. Can a reformer credibly receive an honour when the business of reform never finishes?

However, this award affects me differently, and definitely not as a reformer. It reaches farther back into the very constitution of who I am as a person, and my evolution as an intellectual.

Fortunately for me, it was my father who set me on a path of no return into the complex and exciting world of ideas.

I said ‘fortunately’ because that course

Einstein

Soyinka

of my life was not what was intended by my parents. Later events in my life, after the seed of intellectual awareness had been planted, revealed that my parents only desired a son who will make a good life decision for himself. When I decided, after reading Plato’s Republic, that I wanted to become a philosopher, my parents could not see a viable job prospect attached to that “foolish” desire. Yet, he had no idea that what led to that not-sofoolish decision was his own doing.

I remember that my first introduction to the word ‘genius’ was when my father used it to characterize Prof. Ojetunji Aboyade. So, hearing that he was a genius naturally sent me scrambling for the dictionary. As an example of a genius, the dictionary cited Einstein.

And from then on, Einstein became my titular model of the best anyone can ever be in life, and the best I want to be. The name of Einstein and everything I finally read about him became the instigator for the unfolding of my personal temperament as a borderline introvert given mainly to nurturing the inner self. It was in the course of such nurturing that I got introduced to Wole Soyinka, Chinua Achebe, Bertrand Russell, Lobsang Rampa, Nelson Mandela, Dag Hammarskjöld, Albert Schweitzer, Karl Popper, Mahatma Gandhi, and many others. I had met Plato earlier and I had no doubt then and now, that I want to be at the forefront of generating ideas that could be revolutionary enough to transform nations. And I should not forget to say that I read Hawking too.

A Brief History of Time, for example, stands as a classic example of how a complex idea can actually become a simple beauty in the hand of someone acquainted with the idea.

It was such intellectual companions that made it possible for me, even as a young ‘Grammar school’ boy to stand distinct amidst my friends. All my upkeep was always going into savings that would be spent on gathering many more

books that kept me awake late into the night. Don Marquis, the US writer, once noted that an idea isn’t responsible for the people who believe in it. Well, I agree but then the life of the mind is not a decision a person makes; it is already made on one’s behalf.

There are three significant lessons Einstein taught me. The first is the potent content and consequences of ideas.

It took me a long while before it dawned on me that ideas aren’t just the simple and harmless products of a fertile mind.

Ideas are dangerous! Ordinarily, the most famous scientific notations in the world—Einstein’s E=mc2—would be a mere combination of mathematical symbols. Yet, the world became aware of its terrible force when the atomic bomb pummelled Hiroshima and Nagasaki in a bid to end a war that was fought with the products of the human mind.

The second lesson I learnt from Einstein is surprisingly religious. It is surprising because Einstein is taken to have dangled between atheism and agnosticism. Yet, he was noted to have made the famous statement: ‘God does not play dice with the universe.’ His notion of God is a reference to a mathematically coherent being who formulated the laws of nature with simplicity, elegance and beauty. Thus, these mathematically beautiful physical laws, according to Einstein, suggest that such a God could afford to play dice; the creation of the universe was not an act of random probability. Where Einstein saw a deus absconditus, a creator who abandoned its mathematically functioning universe, I see the hand of Providence at work in the same beautiful universe. For Alfred de Vigny, the French, ‘The true God, the mighty God, is the God of ideas.’ The creation of the universe was the effect of the conglomeration of so many ideas issuing from the eternal mind of God. I did not arrive at the idea of reform by chance. I was led, kicking and screaming to it. By temperament, I am

an introspective, even philosophical, person. I am basically concerned and I dare say, compelled, by the architecture and force of ideas. I had assumed very early in life that the university was the best place for me to mature and achieve my fulfillment. I love some measure of comfort and the material convenience of life that creates the ambience for learning, financial independence that confers the confidence to take up public service offers on one’s own terms, but I love ideas the more. These ideas, as Robert Pirsig argues, are patterns of value that superimpose themselves on the society. Thus, in spite of my love for the academia, Providence led me to the civil service and its matrix of dysfunction.

Here, I confront Einstein’s third lesson: ideas are equally reformatory. Despite the close affinity between the E=mc2, Einstein was rabidly pacifist. For him, we need peace and not war; nuclear fission and fusion can power the society rather than destroying it.

The Nigerian civil service forced on me the urgency of converting my thoughts into reforming dynamics that expand possibilities. And this has defined my labour for the past twenty five years. I am definitely not a genius, like Albert Einstein or Stephen Hawking.

But I have stayed with these outstanding figures, and many others, long enough to understand the force of ideas, properly contextualised within an appropriate practice framework. According to Ralph Waldo Emerson, ‘It is a lesson which all history teaches wise men, to put trust in ideas, and not in circumstances.’ Thus, if for Einstein, the mass of an object is a measure of its energy content (E=mc2), it did not take long for me to realise that the productivity quotient of an organisation is a measure of its performance (Pr=PQ).

• Dr. Olaopa is Permanent Secretary, Federal Ministry of Communication Technology, Abuja

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