New telegraph tuesday, august 25, 2015 binder1

Lagos Assembly's matron found dead in Office }9

FG fails to remit N12bn life cover for workers Sunday Ojeme

F

or the second year in a row, the Federal Government has failed to provide insurance cover for its

workers under the Group Life Insurance Policy.

The failure on the part of the government has brought the total premium not remitted to about N12 billion for the year 2014 and 2015.

The policy is one of the Compulsory Insurances, which is expected to guarantee compensation for employees’ dependents in the event of death or permanent disability.

It is also engrained in

the Pension Reform Act 2014.

Reports at the beginning of the year had indicated that the Federal Government was set to pay about N6 billion premium to the underwriters cover-

ing its civil servants for the current fiscal year.

New Telegraph, however, gathered from a highly placed source in the industry that the premium had not been received by

Education

Promotion of VC’s wife tears FUTO apart

CONTINUED ON PAGE 6

}19

Sanctity Of Truth

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

Tuesday, August 25, 2015

Paradang

/newtelegraph

Vol. 2 No. 552

Suspended SLOK acquires Immigration boss state-of-the-art begs Buhari }5 vessels }5

Ex-NSA, Dasuki, charged to court

@newtelegraph1 www.newtelegraphonline.com

N150

Ooni: Giesi ruling house claims right to throne Kalu

}10

Sijuwade

…for illegal arms possession

lBuhari probes procurement since 2007 Emmanuel Onani, Anule Emmanuel and Tunde Oyesina

National Security Adviser (NSA) to former President Goodluck Jonathan, Col. Sambo Dasuki (rtd), to court over alleged illegal possession of firearms.

This is as President Muhammadu Buhari yes-

terday appointed a 13-man panel to investigate all procurement and purchase of military weapons from 2007 to date.

The absence of the vacation judge, Justice Adeniyi

T Boko Haram: UN scribe honours fallen colleagues he Department of State Services (DSS) has charged the ex-

CONTINUED ON PAGE 2

lDemands release of Chibok girls, backs Buhari’s graft war }2 & 5

President Muhammadu Buhari (left) and the United Nations Secretary-General, Mr. Ban Ki Moon, during a visit to the president in Abuja... yesterday

PHOTO: TIMOTHY IKUOMENISAN

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TuesDAY, AUGUST 25, 2015 NEW TELEGRAPH

Ex-NSA, Dasuki, charged to court over firearms CONTINUED FROM PAGE 1

Ademola of the Federal High Court sitting in Abuja yesterday, however, stalled Dasuki’s arraignment.

The judiciary is presently on its annual vacation.

Despite the vacation, there is always a vacation judge who will sit over urgent and interlocutory cases filed during the vacation.

Checks by New Telegraph at the registry of the court revealed that the absence of the judge may be connected to the ongoing Nigerian Bar Association (NBA) annual conference holding in Abuja and the visit of the Kenya Chief Judge to the Federal High Court.

A statement signed by Mr. Tony Opuiyo on behalf of the DSS said Dasuki's offence is punishable under section 27(i)(a)(i) of the Firearms Act Cap F28 LFN 200.

The statement reads: "You may recall that on 16th July, 2015, the Department of State Services (DSS), carried out a search operation on properties belonging to the immediate past National Security Adviser, Mohammed Sambo Dasuki (Col/rtd), in Abuja and Sokoto.

“This action was necessitated by credible intelligence which linked him to acts capable of undermining national security. The search operation led to the recovery of large cache of arms and ammunition, among other things, and for which further investigation was conducted.

"Consequently, on Monday 24th August, 2015, he was charged to court based on evidence so far obtained, but which relates to possession of firearms without license punishable under section 27(i)(a)(i) of the Firearms Act Cap F28 LFN 2004. This is in line with democratic practice and our avowed commitment to the rule of law, in which nobody is deemed to be above the law, no matter how highly placed in the society. Accordingly, the general public will be duly informed as the matter progresses.”

Opuiyo stated that the Service is committed to the fundamental role of providing adequate security for all Nigerians to enable them pursue their legitimate aspirations and businesses.

Operatives of the DSS had, in July, invaded the Abuja home of Dasuki on allegations of treasonable felony.

The office of the NSA, according to sources, was largely responsible for the purchase of arms to prosecute the counter-insurgen-

cy war in the North-East.

Dasuki was sacked as NSA on Monday, July 13,

by President Buhari. He was appointed on June 22, 2012 by former President Jonathan.

Meanwhile, President Buhari has directed the National Security Adviser, Major General Babagana Monguno (rtd), to convene an investigative committee on the procurement of hardware and ammunition in the Armed Forces from 2007 till now.

Members of the committee include, AVM J.O.N. Ode (rtd.) who is to serve as President, R/Adm J.A. Aikhomu (rtd.), R/Adm E. Ogbor (rtd.), Brig Gen L. Ad-

ekagun (rtd.), Brig Gen M. Aminun-Kano (rtd.), Brig Gen N. Rimtip (rtd.), Cdre T.D. Ikoli and Air Cdre U. Mohammed (rtd.).

Others are Air Cdre I. Shafi'i, Col A.A. Ariyibi, Gp Capt C.A. Oriaku (rtd.), Mr. I. Magu (EFCC) while Brig-Gen. Y.I. Shalangwa will serve as Secretary.

The terms of reference of the investigative committee include investigation and identifying irregularities and making recommendations for streamlining the procurement process in the Armed Forces.

According to a statement by the Special Adviser on Media and Publicity

to the President, Mr. Femi Adesina, the establishment of the investigative committee is in keeping with President Buhari's determination to stamp out corruption and irregularities in Nigeria's public service.

"It comes against the background of the myriad of challenges that the Nigerian Armed Forces have faced in the course of ongoing counter-insurgency operations in the NorthEast, including the apparent deficit in military platforms with its attendant negative effects of troops' morale,” he said.

Adesina said the committee will specifically investigate allegations of

non-adherence to correct equipment procurement procedures and the exclusion of relevant logistics branches from arms procurement under past administrations, which, very often resulted in the acquisition of sub-standard and unserviceable equipment.

Facts have emerged on the possible areas that the 13-member panel constituted to probe arms purchase since 2007, would beam its searchlight.

One of the areas of interest is the 2013 botched arms purchase deal in South Africa, by the administration of former President Goodluck Jonathan.

At the last count, the

deal, which was approved by the Office of the National Security Adviser (ONSA), has remained a product of investigation by the South African police.

Apart from seizing the $9.3 million funds, the South African government was said to be investigating the alleged involvement of an Israeli and the President of the Christian Association of Nigeria (CAN), Pastor Ayo Oritsejafor in the deal.

New Telegraph gathered from authoritative sources that the panel would critically scrutinize the arms purchase deal, with a view to ascertaining how the CONTINUED ON PAGE 6

Edo State Governor Adams Oshiomhole, his Ebonyi State counterpart, Engr. Dave Umahi and other governors at the National Economic Council meeting in Abuja...on Wednesday.

Boko Haram: UN scribe honours fallen colleagues Yekeen Nurudeen

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he United Nations (UN) SecretaryGeneral, Mr. Ban Ki-Moon, yesterday laid wreath at the bomb site of the UN House in Abuja.

The wreath was in honour of his colleagues who died in the terror attack on August 27, 2011.

The attack by Boko Haram killed 23 UN staff while many were injured.

At a solemn ceremony, Ki-Moon urged UN workers not to allow the unfortunate bombing of their office four years ago dampen their morale.

His words: “We pay tribute to the 23 fallen colleagues, women and men who were so brutally stolen from us. We reaffirm our commitment to keep faith with their families.

“Our fallen colleagues and partners will be remembered this morning with moments of silence

in many places.

“But nowhere are the memories of these colleagues more immediate, more vivid and more compelling than here in Abuja. We will remember them forever as truly the best of humanity.

“We join the families in prayers for the eternal rest of the souls of the departed and for long and healthy lives for the injured survivors,” he said.

Ban said he would meet with some of those who were injured in the attack.

“We also recognise the extraordinary fortitude and determination of the survivors, many of whom suffered terrible injury and trauma.

“I commend them for the courage that they continue to show in healing and in working for a better world,” he said.

The UN scribe thanked the Federal Government for its commitment to rebuild the UN House “as a

symbol of the resilience of our extraordinary cooperation.”

“The terrorists attacked the United Nations and destroyed many lives of many colleagues, but we have a mandate to build.

“We have a mandate to better the lives of people in need; to conquer hunger, disease and illiteracy; to promote respect for people’s rights, human rights and freedoms,” he said.

The secretary-general also commended the workers for their resilience in spite of the difficult conditions in which they work.

“I know you are working hard. I ask you to work even harder. You are the face of the United Nations. We are living in a period of frugality.

“I am asking you to do more with less, I am sorry to say so as Secretary-General. But be proud of your work, your mission, you are working for humanity.

“Working together, let us honour our fallen colleagues in the best way possible by working together to build a better future for the people of Nigeria and people of the world,” he said.

Ban expressed solidarity with President Muhammadu Buhari’s efforts to tackle corruption and ensure good governance, saying, “This is a vital time in the history of Nigeria.”

Ban arrived in Nigeria on Sunday on a two-day official visit and held talks with state governors on “Pathways to a new Nigeria – the role of sub-national governments.”

Meanwhile, Federal Government has promised to complete and handover the reconstructed UN building within six months.

Permanent Secretary, Ministry of Federal Capital Territory (FCT), Engr.

Obinna Chukwu, gave the assurance yesterday during the fourth anniversary of the attack.

Chukwu told the UN scribe that the government would do everything possible to ensure that the entire renovation and reconstruction work is completed within the period of six months.

His words: “The contractors already said they would need between five and eight months to get the job fixed, but I have asked them to fast track their approach by working 24 hours to get it done within five months.

“We cannot afford to delay here anymore. This project is very important, because Nigerian government is committed to its obligations.”

The Division Manager, Julius Berger Nigeria, Mr. Marco Braun, assured that with adequate funding, the firm would try its best to deliver.

NEW TELEGRAPH TuesDAY, AUGUST 25, 2015

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TuesDAY, AUGUST 25, 2015 NEW TELEGRAPH

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NEW TELEGRAPH TuesDAY, AUGUST 25, 2015

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UN demands release of Chibok girls, backs Buhari’s graft war Anule Emmanuel Abuja

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he United Nations (UN) has thrown its weight behind the anti-corruption war embarked upon by President Muhammadu Buhari.

Secretary General of the UN, Ban Ki-moon, who disclosed this yester-

day after a meeting with President Buhari at the presidential villa, Abuja also expressed the organisation’s readiness to support Nigeria in bringing to an end insurgency in the North-East being perpetrated by the Boko Haram sect.

The UN scribe is on a two-day visit to Nigeria.

Buhari has vowed to

recover all stolen funds from the national treasury, some of which have been stashed in foreign banks. The president has called on the international community and financial institutions to help in the recovery of over $150 billion looted funds by public office holders and their cronies.

Addressing a joint press

conference after a closeddoor meeting which lasted for about an hour, Ki-moon said that for prioritising issues of insecurity, anticorruption and unemployment, the President is sending a message of hope and peace, as well as sustainable development.

"President Buhari has embarked on an agenda for change and I commend

One of the state-of-the-art vessels acquired by SLOK Shipping

SLOK acquires state-of-the-art vessels

N

igeria’s leading indigenous shipping company and a subsidiary of SLOK Group, SLOK Shipping, has expanded its fleet with the acquisition of two stateof-the-art 2015-built PX121 platform supply vessels.

The company’s Group Managing Director, Firas Abboud, in a statement made available to New Telegraph yesterday, noted that the addition is another milestone in the company's vision 2020 aimed at acquiring and operating

vessels in the high-end segment of the Offshore Support Vessel (OSV) industry.

According to Abboud, the new assets, christened "SLOK ENERGY" and "SLOK POWER”, will complement the vessels in the fleet and support deep offshore exploration.

He said: "We wish to inform stakeholders in the offshore sector of the oil and gas industry that SLOK has taken delivery of two brand new platform supply vessels. The ships, which were built by BRI-

TOIL Singapore under SLOK’s supervision, will be available in Nigeria in the fourth quarter of this year.

“We are taking on the challenge that Nigerian companies can compete and excel in all service sectors of the industry. SLOK has become a regional player and will not restrict its activities to Nigerian waters anymore.

"In spite of global economic challenges, our management has adopted expansion strategies with

the implementation of stringent financial measures to make this acquisition possible.

“We are determined to continue to satisfy our customers' requirements by building boats that will not only meet their expectations, but also set the pace for future trends."

Abboud thanked the company’s partners for the partnership. “We appreciate our financial partners that have been supporting our business growth and expansion efforts," he said.

Suspended Immigration boss begs Buhari Anule Emmanuel Abuja

T

he suspended Comptroller General of Nigeria Immigration Service (NIS), David Parradang, yesterday met with President Muhammadu Buhari to plead for clemency.

Parradang was, last week Friday, directed to proceed on suspension while the service’s Deputy Comptroller General, Martin Abeshi, takes over.

Paradang, who was also sighted in the presidential villa in company of Governor Simon Lalong of Plateau State, however, manoeuvred his way out of media coverage.

While Lalong was briefing reporters, the sus-

pended Immigration boss, who wore blue caftan attire hid in the Aide de Camp’s waiting room close to the President's office, where he waited for the Plateau State governor.

Speaking to state house correspondents after meeting Buhari, Lalong said that although investigations into the issues that led to the suspension of the Immigration boss has commenced, it was necessary for him to show concern.

That was why he visited the president, the governor stated.

His words: "I came to see the President on some issues affecting my state. I feel comfortable with the response I got and that is why I am smiling. I told him what we are doing on

insecurity in our state.

"Also on the prevailing issue of the suspension of the Comptroller General of Immigration, who incidentally is from my state, when you have issues like this in a political period, you must find ways of looking for reasons. If anything affects any part of your body, you must show concern."

He explained that "Paradang's case is still under investigation. A man was suspended and he is from Plateau State. It is my concern because I am the governor of the state.

For every appointment, we must show concern, no matter how small.

"The president is handling it. At the end of the day, whatever is the outcome, I will agree with it,

but I also need to get some explanation as the governor of the state.”

Speaking on the state of insecurity on the Plateau, Lalong said, "On insecurity in the state, there are still pockets of crisis in Jos, especially between the Fulani and the Berom.”

He noted that "because of that, I set up a 13-man committee and I put credible people on the committee. While the committee was still sitting, crisis erupted again in some parts of that area. We still have cases of cattle rustling and farm destruction going on in the southern part, but in the last one week, we have taken very good measures and security agencies are working very well in terms of arrest."

him highly for prioritising insecurity, anti-corruption and unemployment issues.

"My message is simple; United Nations supports your efforts to advance hope, peace, sustainable development and human rights in a comprehensive way. I am convinced that when you change Nigeria, you have changed Africa."

With his visit coinciding with the 500th day since the kidnap of Chibok schoolgirls by Boko Haram terrorists in Borno State, Ki-Moon demanded the unconditional release of the girls by their abductors.

He said: "The whole world has been moved by their fate. I once again call with the strongest terms on those responsible to unconditionally release of these girls and many other abducted children.

"This week marks the 500 days of the kidnap of the Chibok girls, I want to reiterate my support for the Chibok girls and so many other innocent abducted girls and boys whose names and fate remain unknown. It is intolerable that their lives and schooling have been disrupted in this way.”

While noting that military approach to addressing the insurgency would not be sufficient to extinguish terrorism, the UN scribe called on the Federal Government to expand educational and employment opportunities for young people.

He also commended Buhari and former President Goodluck Jonathan for ensuring peaceful and smooth transition of power from an incumbent

to an opposition candidate, the first in Nigeria's history.

"I salute the statesmanship of both President Buhari and former President Goodluck Jonathan, for the first time in Nigeria, a sitting President peacefully ceded power to an opposition candidate in a democratic election. It has restored a global message of respect for democracy and the rule of law,” he said.

In his remarks, Buhari expressed immense gratitude for the visit and KiMoon's deep appreciation of the challenges confronting Nigeria and the efforts being made to tackle them.

He also thanked the UN scribe for appreciating Nigeria's regional troubleshooting efforts and for inviting him to next month's UN General Assembly in New York.

Buhari said: "We had discussed with him, the difficult times Nigeria has found itself, the destruction of infrastructure, especially in the NorthEast, the rehabilitation of the infrastructure and over 1.5 million internally displaced persons which have to be morally, physically and materially rehabilitated, and the efforts we think the scribe can covey to the UN so that Nigerians can be helped in the identified problems.

Meanwhile, President Buhari has been invited

by Ki-moon to a meeting of world leaders in New York on September 27 and 28, which is expected to formulate a fresh plan of action against extremism.

The president has since accepted an invitation.

FG withdraws diplomatic passports from politicians, others Johnchuks Onuanyim Abuja

T

he Federal Government has directed the Nigeria Immigration Service (NIS) to withdraw diplomatic passports from unqualified persons holding them.

The directive was contained in a statement issued by the Director of Press, Yusuf Isiaka Alhaji, on behalf of the Permanent Secretary, Ministry of Interior.

He said: "The attention of the Federal Government has been drawn to the fact that some Nigerians who are not entitled to hold diplomatic and official passports are in possession of these documents.

"In view of the Federal Government’s determination to protect and promote Nigeria's integrity in the

comity of nations, the Permanent Secretary, Federal Ministry of Interior has directed the Nigeria Immigration Service to retrieve all valid diplomatic and official passports with immediate effect from all persons who are not entitled to hold such documents."

A source at the Foreign Affairs Ministry, however, revealed that many politicians not entitled to the diplomatic passport were in possession of it today.

According to the source, “Diplomatic passports are official documents normally given to professional diplomats and ambassadors by their governments, to facilitate their work when they are on posting to foreign countries. Its issuance is governed by rules under the 1815 Congress of Vienna that formalised the exchange of diplomatic agents among states."

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TuesDAY, AUGUST 25, 2015 NEW TELEGRAPH

MTN forecloses plan to settle $500m debt

lHinges action on dollar shortage Kunle Azeez

M

TN Group Limited has written off its plan on the early payment of about $500 million of debt held in Nigeria.

Africa’s largest telecoms network cited its inability to get hold of dollars in the African wireless carrier’s biggest market for its latest decision, according to Bloomberg.

“We had looked to do the early resettlement, but currently we are not able to,” Nik Kershaw, head of investor relations, said by phone yesterday. “In Nigeria, there is limited availability of the hard currency.”

MTN, which has more than 230 million mobile phone customers in 22 countries, had, on August 5, disclosed that it was in talks with the Central Bank of Nigeria (CBN) about the early repayment of borrowings to reduce exposure to the naira, which has weakened against the United States dollar this year.

Kershaw said that the Johannesburg-based company has seen the naira deteriorating further, explaining that declines in emerging market currencies against the dollar, including the South African rand, will hurt the business.

The cost of importing

Buhari probes procurement since 2007 CONTINUED FROM PAGE 2

transaction, meant to be a strictly military business, went awry.

The panel will also look at the $5 million seized few months after the first deal.

The panel, according to sources, will examine former Chief of Defence Staff (CDS), Air Chief Marshal Alex Badeh's confession, that he led a military that

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was ill equipped.

Badeh had said, among others, during his Pull-Out Parade: “…Notwithstanding the modest successes we recorded in the fight against terror, I must say that the task of coordinating the military and other security agencies in the fight against the insurgents is, perhaps, the most complex and challenging assignment I have had in my over 38 years in service.

“For the first time, I was head of a military that lacked the relevant equipment and motivation to fight an enemy that was invisible and embedded with the local populace.”

Badeh's position was corroborated by former Chief of Army Staff, Lt'Gen Kenneth Minimah (rtd).

handsets into South Africa could rise, for example, with the difference to be passed onto the consumer.

“If the handset pricing goes up because the currency weakens, it’s going to cost the consumer more,” Kershaw said.

The rand tumbled to a record low yesterday on concern plunging global commodity prices will worsen the country’s economic outlook.

The currency traded 2 per cent weaker at 13.2340 against the dollar as of 12:54 p.m. in Johannesburg. MTN shares declined 4.9 per cent to 168.50 rand, compared with a 2.5 per cent fall on the FTSE/ JSE Africa Top 40 Index.

But Kershaw maintained that MTN will take time to consider how to respond to the rand’s

weakness in terms of cost controls and investment plans.

“When we do the next budget cycle, we’ll review that. We are not going to have a short-term, knee jerk reaction to the currency moving, you need to see how things play out over the next couple of months,” he added.

New Telegraph learnt that following the firsthalf profit of the telecoms firm, which declined 11 per cent, according to its half-year financial report released early this month, the company has begun a calculated move to eschew unnecessary accumulated debt exposure.

Net income, excluding one-time items, decreased to 11.9 billion rand ($930 million) in the six months through June, MTN said

in a statement. That compared with an average analyst estimate of 12.2 billion rand. Sales fell 4.9 per cent to 69.2 billion rand, with data revenue up 21 per cent.

“A difficult regulatory environment and weak macroeconomic conditions continue to impact the Group’s performance,” Chief Executive Officer Sifiso Dabengwa had said.

“Results were further impacted by unfavourable exchange rate movements.”

Meanwhile, the company has cut its 2015 subscriber growth forecast to 16.75 million customers from 17.5 million estimated in March.

“We expect the balance of the year to remain challenging for MTN Nigeria,” Dabengwa said. “Results were constrained by the

weak macroeconomic environment, aggressive competition and operational execution challenges.”

However, in Nigeria, MTN continues to lead the market by controlling over 62 million of the over 148.7 million total active telephone subscribers in the country.

Also, of the 92.6 million mobile Internet users on all the mobile networks released by the Nigerian Communications Commission (NCC) in June, MTN controls 40.4 million; with Globacom, Airtel and Etisalat having 19.3 million; 17.5 million and 15.2 million respectively.

It has invested over $13 billion (over N2 trillion) in Nigeria since its entry into the nation’s telecoms sector in 2001.

L-R: Chairman, Honeywell Group, Dr. Oba Otudeko; President, African Development Bank, Dr. Donald Kaberuka; Group Managing Director, First Bank of Nigeria (FBN) Holdings Plc., Alhaji Bello Maccido and Group Managing Director, FBN Plc., Mr. Bisi Onasanya, at a business dinner, at the Eko Hotel, Victoria Island, Lagos…yesterday.

FG fails to remit N12bn life cover for workers CONTINUED FROM PAGE 1

any of the insurers four months to the end of the year.

According to the source, which pleaded not to be named, the failure of the government to allocate funds for premium in the budget had made it difficult for the underwriters to provide any form of cover for the civil servants.

He said: “Up till now, I am not aware that the premium has been paid. The truth of the matter is that the country is broke. The Federal Government has no money for premium.

It was not included in the budget.”

Oil prices, which account for over 70 percent of Nigeria’s revenues have dropped from over $110 per barrel since over a year ago to $40 a barrel, making the

government to struggle to pay its workers’ salaries and has limited the Central Bank of Nigeria’s (CBN) ability to prop up the currency. This has mounted pressure for another devaluation of the naira.

Meanwhile, with the strict implementation of Section 50 of Insurance Act 2003 now in place, the underwriters have no choice than to deny the civil servants any form of insurance cover.

According to the Act, which borders on the policy of ‘No premium, no cover,’ “the receipt of an insurance premium shall be a condition precedent to a valid contract of insurance and there shall be no cover in respect of an insurance risk unless the premium is paid in advance.”

The Act added that any insurer who granted cover without having received premium in advance or premium receipt notification from the relevant insurance brokers, would be liable to a penalty of N500, 000 in respect of each cover granted, and in addition, might be a ground for the suspension of the licence of the insurer.

The immediate past Commissioner for Insurance, Fola Daniel, shortly before leaving office, had also revealed that the Federal Government did not pay premium for the workers last year. He said that since the Federal Government did not pay any premium on Group Life for the civil servants last year, it should not also expect to be paid any claims for the period in the event

of loss or any other form of disaster.

Daniel said: “There is no cover for the workers.

That also makes the Federal Government 100 per cent compliant because they should not expect claims to be paid at the end of the day.”

He, however, noted the fact that Federal Government’s failure to pay was a plus for the industry, as it will discourage the concentration of operators in the Federal Capital Territory (FCT).

“There is huge market for group life out there, but insurance companies spend too much energy chasing Abuja accounts.

There are plenty small scale companies that haven’t taken this policy,” he said.

Two years ago, the Ni-

geria Police Force and the armed forces pulled out of the scheme.

The security challenges in the country and the attendant casualties engendered by Boko Haram insurgency in the NorthEast, forced the authorities to consider taking special insurance covers for the officers and men outside of the one being provided by the Head of Service of the Federation for federal workers.

The police authorities had successfully lobbied the Federal Government to create a special insurance scheme for the officers and men because of the need to get adequate compensation since the force had been making the highest claims from insurance companies as a result of the death of its personnel.

NEW TELEGRAPH tuesday, august 25, 2015

APC commends Service Chiefs for leading war against insurgency Johnchuks Onuanyim Abuja

T

he All Progressives Congress (APC) yesterday commended the Service Chiefs for showing leadership by taking charge of the ongoing stepped-up fight against Boko Haram. The party called the development a breath of fresh air in the counter-insurgency battle.

It would be recalled that the President, Muhammadu Buhari had charged the Service Chiefs to bring to an end insurgency in the North East within three months.

However, APC, in a statement issued in Abuja by its National Publicity Secretary, Alhaji Lai Mohammed, stated that it was commendable that the Chief of Army Staff (COAS), Lt.-Gen. Tukur Buratai, and the Chief of Air Staff (CAS), Air Marshal Sadique Abubakar, are personally coordinating the efforts of their troops in the theatre of war is the best news to have emerged from the frontline of the Boko Haram battle.

Mohammed said, ''There can be no bigger boost to the morale of the gallant troops who are combating Boko Haram than the sight of their Service Chiefs personally leading the charge from one village to another battling, the insurgents.

Port Harcourt

T

he Commission of Inquiry inaugurated by Governor Nyesom Wike to investigate the sale of Rivers State assets under former Governor, Chibuike Amaechi has disclosed that former council chairmen diverted over N2 billion Central Bank of Nigeria agriculture loan.

The commission, under the chairmanship of Justice George Omereji, noted that the money was part of the N4billion CBN loan for the development of agriculture in the state, and that it was supposed to be shared among 380 mother cooperatives under former council chairmen.

According to the commission, which sat for the first time after the court dismissed the petition of Amaechi to stop the sale of assets during his stint

7

BBOG members denied access to Ban Ki-Moon Yekeen Nurudeen Abuja

A

mild drama ensued yesterday evening at the lobby of Transcorp Hilton Abuja as security operatives prevented members of the BringBackOurGirls (BBOG) advocacy group from having access to the visiting Secretary General of United Nations, Ban Kii Moon.

The BBOG group had earlier circulated information that it was going to have an audience with the UN Scribe at 6:30pm immediately after its daily sit-out at the Unity Fountain.

However, drama ensued when the BBOG members, who were

clad in red outfits bearing bringbackourgirls stormed the main lobby of the Transcorp Hilton with the aim of meeting with the UN Chief who was scheduled to attend a dinner at the Presidential Villa with President Muhammadu Buhari on his way out.

Men of the State Security Services (SSS) from the State House and Police men, who were providing security for Ban Kii Moon, in addition to foreign security personnel that came with him sought to know the mission of BBOG members whose presence made the Transcorp Hilton lobby a rowdy place.

A Police Inspector with the name tag Ngozi A Ubani, and an unidentified

man who came to verify if the group had an appointment with Kii Moon were told that the UN Secretary General had asked to see the group even a week ago before his visit to the country became a public knowledge.

Aisha Yesufu, one of BBOG leaders confirmed that he asked to see the BBOG about a week ago, even before it became public knowledge that he was coming to Nigeria.

It took the intervention of former Senior Special Assistant to the President on MDGs Amina Azubair for the security personnel to allow the BBOG members to stay in the lobby.

However, former Minister of Education, Dr. Oby Ezekwezili, who was said to have been meeting

with Ban Kii Moon, came down to address the gathering.

She said that Country office of the United Nations had indicated that the group would be meeting with the Secretary General along with the victims of Boko Haram.

According to her, the UN Secretary General had a meeting with victims of Boko Haram while he had what she described as a "discussion in passing with the representatives of BBOG" Her words: "The Country office of the United Nations had indicated that we will be meeting with the Secretary General along with the victims of Boko Haram. The meeting did hold with the victims of Boko Haram.

The discussion with us was merely in passing in sense that the Secretary General said he has to meet up with the dinner appointment with the President and basically said he has spent a lot of time during his visit putting the issue of our Chibok girls on the table of the government and making demands for the girls to be rescued and that UN would continue to do so.

“We basically made the point that the citizen movement has been on for 482 days today and we are not going to stop advocating and we hope that United Nations would also galvanize the effort of the global community to support the Nigerian government to rescue our girls.”

“The group did not have the meeting but we are representing the group; the board room where the meeting was held could never have taken the BBOG members."

Nkire wants support for INEC boss

F

Vice-President Yemi Osinbajo (left), receiving a souvenir from President of the Nigerian Bar Association (NBA), Augustine Alegeh, during the 55th Annual General Confrence of the NBA, held at the International Conference Centre, Abuja, in the middle is Ex-President of the NBA, Olisa Agbakoba…yesterday

Council chairmen shared N3bn under Ameachi, says witness Emmanuel Masha

News

national

in office, the funds never got to the intended cooperatives when the council chairmen got the funds.

The commission’s counsel, Dr. Zaccheus Adangor, who interrogated the permanent secretaries of the Ministry of Agriculture and Commerce and Industry, noted that 38 of the cooperatives got grants without supervision.

He said that it was Amaechi, who authorized the disbursement of the funds by instructing the former commissioner of agriculture, Emma Chinda, who was absent at the sitting.

Adangor noted that Amaechi had on 25th January, 2015, approved the disbursement of N3 billion CBN loan to farmers as grants, despite the guideline of the CBN, which stipulates that the loan should be used for the development of agriculture.

NPC kicks against births, deaths registration by states Yekeen Nurudeen Abuja

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he National Population Commission (NPC) has kicked against the recommendation by the defunct National Conference that state governments should take over the responsibility of registering births and deaths in the country.

According to the NPC chairman, Chief Eze Duruiheoma, allowing state governments to handle such exercise would be counterproductive. He noted that the benefits the nation stands to gain from a virile registration programme would be compromised.

He spoke in Abuja yesterday while receiving a delegation from the National Identity Manage-

ment Agency at the NPC headquarters.

Duruiheoma said that multiple registration of the vital registration programme would erode the uniformity and standardisation the process required, thereby making the process of obtaining key travelling documents cumbersome.

This was as the NPC boss further clarified that the present reality

in Nigeria did not guarantee the conduct of a national census in 2016.

"While the Commission appreciates the immense value the active involvement of state governments will add to the implementation of the vital registration, it will however be counterproductive to make the registration of births and deaths the responsibilities of sub national agencies.

ormer National Chairman of the Progressive Peoples Alliance (PPA), Chief Sam Nkire, has thrown his weight in support of President Muhammadu Buhari's appointment of Mrs Amina Zakari as Acting Chairman of the Independent National Electoral Commission INEC. Nkire said his support for the new INEC boss was based on his knowledge of her as a competent, dedicated and qualified woman of integrity. The former PPA boss now a chieftain of the All Progressives Congress, APC, said he came in close contact with Mrs Zakari while she was Chairman, Election and Political Party Monitoring Committee and that she proved to be very knowledgeable and focused. According to the former PPA National Chairman, President Muhammadu Buhari would not go wrong if he confirmed Mrs Zakari as Chairman of INEC due to her level of competence and integrity.

Army to send 1000 re-absorbed soldiers on six weeks training

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he Nigerian Army is to send another batch of 1000 dismissed soldiers to Kontagora for counterterrorism training.

New Telegraph's investigation revealed that the 1000 soldiers, will join 1500 others, who were recalled by the Review Com-

mittee sitting at the Command and Staff College, Jaji, Kaduna State.

A highly placed military source, who spoke on the condition of anonymity, said the 1000 cases were among those that were decided on merit today.

"The information I

have is that, 1000 dismissed soldiers have today been re-absorbed, and would proceed on retraining at our college in Kontagora.

"They will join 1,500 others, who were cleared out of over 3,000 cases last week."

TUESDAY,AUGUST 25, 2015 NEW TELEGRAPH

8

Metro Baba Sala leaves UCH Sola Adeyemo Ibadan

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he first generation comedian, Senior Apostle Moses Adejumo, aka Baba Sala, who had been receiving treatment at the University College Hospital (UCH), Ibadan, for illness associated with old age, was yesterday discharged by the hospital management. ‎Baba Sala, who turned 80 a few months ago, had been rushed to the hospital from Ilesa, Osun State on Monday last week and spent eight days there amidst rumours that he had died.

It was learnt yesterday that Baba Sala was discharged

Baba Sala

around 3.4 pm to the warm embrace of his family members.

According to a Facebook message from one of his children, Emmanuel, “To the glory of God, my daddy has been discharged from the hospital today (Monday). Want to use this opportunity to thank all friends and fans of my daddy for the love, care and concerns.

He actually thanks everyone for all comments and love.”

On Saturday members of the family of the ace comedian expressed displeasure over constant rumour of the death of their father in the media.

On Sunday afternoon, it was observed that some private security men were stationed at the entrance of the South West 3 Ward where the octogenarian was receiving treatment.

Several family members, including his children and one of his wives, said they were advised to stay outside the ward so that the hospital medical team would have enough time to observe the health of the comedian.

Earlier on Thursday, the Chief Medical Director of the UCH, Prof. Temitope Alonge, had said through the Public Relations Officer of the institution, Mr Deji Bobade, that the hospital management would be responsible for the hospital bill of the comedian.

Thugs beat woman, kill her baby Babatope Okeowo Akure

A

toddler was killed during a scuffle between his mother and a woman in Idanre in Idanre Local Government Area of Ondo State.

This was as a four-year-old boy, Sunday Daniel, was stolen in Akure, the Ondo State capital.

The Akure incident happened at Alaba Sawmill area of Ondo Road when the boy, who had just returned from holiday lesson, was playing with his mates in front of their house.

A neighbour, who confirmed the incident yesterday, said the man who abducted the baby had been coming to the house for a

ABIODUN BELLO FEATURES Editor

abiodun.bello@newtelegraphonline.com

© Daily Telegraph Publishing Company Limited

long time.

According to her, the man was the mother’s customer who sells local concoction in the area.

The neighbour added it was during his last visit that the man, also known as Sunday, tricked the boy that he was going to buy him biscuits.

She said: “When it was taking too long, his mother, Mrs Maria Sunday, raised the alarm over the whereabouts of her son.

The Idanre incident in happened when suspected thugs forcibly removed a toddler from his mother’s back during a scuffle, which led to his death.”

The suspects

‘I’ve master keys for different car brands’ MASTER ROBBER A leader of a robbery gang, now in police custody, claims he has lost count of exotic cars he had stolen Kunle Olayeni Abeokuta

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he kingpin of a suspected notorious gang of robbers, specialising in snatching exotic cars, Ahmed Ola, said he was pushed into robbery because of the nation’s poor economic situation.

Ola spoke with journalists yesterday during a parade at

the Ogun State Police Command headquarters, Eleweran, Abeokuta.

The state Police Public Relations Officer (PPRO), DSP Muyiwa Adejobi, told journalists that 10 vehicles were recovered from the gang.

Adejobi said the vehicles were snatched from neighbouring states.

He listed the names of those paraded as Ola (kingpin), Ozazuwa Odion (buyer), Abiodun Taiwo and Ifeanyi Oke. The PPRO added that they were arrested after a series of complaints from the public on their activities.

All the suspects confessed to the crime.

The ring leader, Ola, told journalists that his gang had snatched so many cars that he had lost count of.

He said: “I met two members of the gang inside cell when I was arrested for a crime and from there we formed this group.

“We have snatched so many vehicles and we have people that are buying from us. We have fabricated master keys for different brands of cars.”

Others paraded were 14 suspected cult members from Agbara axis and six from IjebuOde area of the state.

Also, three suspects were arrested and paraded in connection with the killing of an innocent citizen during a bloody clash between two rival groups of hoodlums.

Speaking with journalists after the parade, the state Commissioner of Police, Abdulmajid Ali, said the command would not leave any stone unturned in sanitising the state.

OAU appoints Adeyeye director, Centre for Distance Learning O

bafemi Awolowo University (OAU) Ile-Ife, has appointed Professor Mike Adeyeye as director, Centre for Distance Learning (CDL).

Prior to his resent appointment, he lectured at the Department of Local Government Studies, Faculty of Administration of the institution.

Adeyeye holds a B.Sc. Political Science (Ibadan), M.Sc. Local Government Studies (Ife)

and Ph.D. Political Science (Ibadan), specialising in public administration and governance studies.

He has served as the deputy director, CDL, from 2013 to 2015.

Adeyeye also served as head, Department of Local Government Studies (2006 - 2008) and vice-dean, Faculty of Administration (2005-2007); and as secretary to Obokun Local Government, Ibokun, Osun State

(1991-1993).

This experience afforded him the practical facet of governance and administration.

He has consulted widely for governments and Non-Governmental Organisations (NGOs), the World Bank, United Nations Development Fund (UNDP), AfDB and various donor and international agencies on issues of governance and development.

Adeyeye

Metro

NEW TELEGRAPH TUESDAY,AUGUST 25, 2015

Shock as Lagos Assembly matron’s body found in office Muritala Ayinla

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onfusion reigned supreme yesterday as the body of the Chief Matron of the Lagos State House of Assembly, Mrs Caroline Oriola, was discovered in her office.

However, circumstances surrounding Oriola’s death were intriguing.

It was gathered that when her family could not find her, her husband, simply identified as Mr Oriola, rushed to the Lagos Assembly to look for her but did not find her.

The late chief matron was said to have gone to the office on Saturday, but only her body was discovered yesterday morning by a cleaner, who had gone to clean the office.

No official was ready to speak on the mystery surrounding Oriola’s death but sources in the Assembly said the woman had gone to her office on that fateful day to take some drugs.

She was said to have put on the air conditioner in

Speaker Lagos State House of Assembly, Mudashiru Obasa

the office and locked the door from behind before her death.

Although the security men who were on duty were oblivious of the incident, investigations also revealed that the woman signed in

before she picked the keys to the clinic, being a weekend.

When our correspondent visited the office, the atmosphere was unusually calm.

The mood of the staff was sober while some of the staff were yet to recover

from shock of the chief matron who they fondly called “Mummy”.

A few others gathered in groups to discuss her death.

A member of staff, who pleaded anonymity, said: “It is indeed sad news; nobody expected that she would die when she did. We were told that she was in the clinic to pick some drugs only for her body to be found on the floor by a cleaner.”

Her husband was said to have waited endlessly for her to return home before he went to the Assembly.

According to source in the Assembly, the husband had gone to check her in the Assembly, but could not find her car in the car park.

The source added that the husband did not know that she parked in the lawmakers’ car park.

Oriola’s body was later conveyed to the morgue yesterday with the Assembly ambulance accompanied by some staff of the House led by the Clerk, Mr Segun Abiru.

10 die in Abia auto crash

(File) The scene of an accident in Umuahia

Igbeaku Orji Umuahia

A

t least 10 people were feared dead when a Mercedes Benz commuter bus 608 collided with

a Man Diesel truck loaded with cement at Ohiya on the Enugu-Port Harcourt Expressway, Umuahia, Abia State.

The bus with registration number Lagos SB 735 KJA was carrying passengers returning from a traditional marriage in Umuhe, in Ohuhu, Umuahia North Local Government Area of Abia State.

The cement-laden truck was going towards Enugu while the bus was on its way to Asa in Ukwa West Local Government Area from where the victims were said to have come for the traditional marriage.

The state Police Public Relations Officer (PPRO), DSP Onyeke Udeviotu, said

yesterday that the accident occurred about 7:55pm on Sunday.

The PPRO said the victims were taken to the Federal Medical Centre (FMC), Umuahia, for medical attention.

He added that bodies of the victims had been deposited in the mortuary.

At the FMC, Umuahia, a mortuary attendant, confirmed that 10 bodies were brought in last night (on Sunday).

At the Emergency Unit of the hospital, one of the senior nurses, who preferred anonymity, said 22 accident victims were brought to the hospital alive.

But, according to him, a woman being treated

for head injury later died, bringing the number of the dead to 11.

The nurse said efforts to save the woman’s life, including the transfusion of three pints of blood, failed.

He said that the survivors were responding to treatment while some of them had been discharged.

The source also disclosed that some of the doctors, still on strike, were called to assist which, according to him, helped to save more lives.

One of the victims’ relations told our correspondent that 32 passengers were returning to Asa about 7:50 after a traditional marriage at Ohuhu when the incident occurred.

City Briefs Man lynched for stealing pot of soup Clement James Calabar

A

23-year-old man, who allegedly connived with two others to steal a pot of soup from fire, has been lynched by a mob in Calabar, Cross River State.

The body of the victim, whose name could not be ascertained as at press time, was left near Atu Secondary School in Calabar.

A witness, who preferred to remain anonymous, told our correspondent that the young man had gone with two of his friends to No. 3, Mayne Avenue Extension, Calabar, in the early hours of Sunday and stole a pot of soup.

According to the witness, the owner of the soup was warming it to eat with her children before attending morning mass at the nearby St. Bernard’s Catholic Church.

However, luck ran out on the thieves as the woman caught them while they were running out of the compound with pot and raised the alarm.

Estate agent petitions IG over detention Taiwo Jimoh

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n estate agent, Alhaji Mutairu Owoeye, has raised the alarm over plot to “frame him up” for alleged murder charge by the Ogun State Police Command.

Owoeye has, therefore, appealed to the Inspector General of Police, Mr Solomon Arase, to withdraw the case from the command and order an independent investigation.

This is contained in a petition of August 19 by his lawyer, Mr Ayodele Omoniyi and addressed to the Deputy Inspector General of Police, ‘D’ Department, Abuja.

Omoniyi urged the IG to order that Owoeye, who is being detained by the police, should be released.

The petition reads in part: “The file be retrieved from the police in Abeokuta for an unbiased investigation and appraisal of the facts of the case so that our client is not made to suffer for a crime he did not commit as the first step taken by the police in the matter has shown that they cannot be trusted to conduct any meaningful investigation.”

How my son was murdered, Policemen kill driver, assistant over N500 bribe by newspaper distributor Camillus Nnaji

I

t was weeping and wailing at the home of Mr Samuel Ogunlusi, a newspaper distributor at Oshodi, Lagos, over the loss of his 25-year-old son, Olusegun Ogunlusi.

Segun, as he was fondly called, was shot dead on Monday, last week by yet-to-be-identified gunmen in his hostel in Jos, the Plateau State.

The deceased, a graduate of Sociology, was doing his National Youth Service in Akwa Ibom State but returned to his school, the University of Jos (UNIJOS) to collect some documents.

But in the night, gunmen invaded the off-campus hostel he was staying and opened fire on

the students. Segun and another student were while yet another was injured.

A visibly sorrowful father, Ogunlusi, could not contain his emotion when our correspondent visited his residence at AbuleEgba on the outskirts of Lagos.

He said: “My son was a very humble person who had no trouble with anybody. He was doing his mandatory one-year national service under the National Youth Service Corps (NYSC) in Akwa Ibom State. He went back to his school in Jos for some documents required in his place of service.

He squatted with his friends at his former off-campus hostel located at City of David, Ring Road, Jos.

(File) Protesting truck drivers

Juliana Francis

S

ome policemen in Taraba State have disappeared after killing a trailer driver and his assistant for refusing to give them a bribe of N500.

9

The incident occurred on Sunday night.

This was as a commercial bus driver stripped himself naked when policeman attempted to impound his bus in Port Harcourt, Rivers State.

Witnesses claimed that the killing of the driver and conductor occurred at a roadblock, on Jalingo-Wukari Road. Nobody is, however, sure on how the shooting of the two men took place.

The murder of the two men sparked a protest from other trailer drivers yesterday morning. The angry drivers took to the streets, chanting solidarity songs. They used their vehicles to block the road for other road users.

This immediately caused a gridlock.

Some of the men, who were supposed to travel to the South-East to make deliveries, demanded that police authorities in state should fish out the killer cops.

10 News

NATIONAL

Ooni stool: Giesi ruling house claims right to throne Adeolu Adeyemo Osogbo

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s contenders for the stool of Ooni Of Ife are increasing dayby-day, one of the ruling houses contesting for the position, “GIESI” yesterday affirmed that it is its turn to produce the next monarch of the town. The family said that the ruling house will do its best to claim what belongs to it at all cost.

The Giesis pointed out that, it would not allow any other ruling house to outsmart it in the kingship succession.

The ruling house’s spokesman, Prince Kunle Adelowo, at a press conference in Osogbo, argued that, the normal rotation to the succession to the throne of Ooni which is in vogue in Ife presently has ascertained that, it was now the turn of Giesi family.

Adelowo stated that it is on record as indicated by the government declaration captioned:”The Ooni of Ife Chieftaincy declaration”, reference no CB141/7/1/540 dated 22nd August, 1977 that the order of rotation among the ruling houses should be as follows: Osinkola, Ogboru, Giesi and Lafodigo.

He stressed: “Giesi produced Ooni last in the ancient town between 1880 to 1884, where the then king ruled for 14years and the family is set to produce the

next Ooni giving a short notice by the state government.”

“Also, the Osinkola Ruling House had produced Oba Adesoji Aderemi, who ruled the ancient town for 50 years and was immediately succeeded by the late Oba Okunade Sijuwade from the Ogboru Ruling House according to the memorandum released by the Executive Council of Oyo State of Nigeria number OYSGM,(80) 107 dated 16th September, 1980 captioned ‘ Appointment of a new Ooni of Ife.”

FG bonds: 11 beneficiary states to pay 14.83% interest –DMO

A

clearer picture of what it will cost the 11 states that got federal bonds palliative as interest on the bonds emerged yesterday.

The first 11 states that got their debts to commercial banks restructured are Osun N88.6 billion; Delta N69.8 billion; Ogun N55.4 billion; Imo N37.1 billion; Ekiti N18.8 billion; Kwara N15.6 billion; Edo N11.9 billion; Benue N10.9

ABUJA

C

hief Justice and President of the Supreme Court of Kenya, Justice Willy Mutunga, yesterday called on the National Human Rights Commission (NHRC) not to cover up cases of human rights abuses.

He, however, urged the commission to look holistically into the issue of corruption, human trafficking, piracy and terrorism.

Justice Mutunga, who is presently in Nigeria to attend the ongoing annual conference of the Nigerian

Emmanuel Onani Abuja

T

he Inspector General of Police (IGP), Mr. Solomon Arase, has approved the immediate redeployment of four Deputy Inspectors General (DIGs) of Police.

A statement signed by the Force Public Relations Officer (FPRO), Mr. Emmanuel Ojukwu, a Commissioner of Police, gave the names of the DIGs and their new designations as follows: DIG Dan’Azumi

billion; Oyo N9.1 billion; Bauchi N6.5 billion and Kogi N0.81 billion amounting to N322.78 billion.

As at August 19, 2015, 22 states had submitted requests for the bank loan-to-FGN-Bond restructuring.

The affected states would be paying 14.83% interest on the bonds for 20 years going by Debt Management Office( DMO) calculation.

The 14.83 % interest

to be paid by the affected 11 states that had their commercial debts restructured, represents the value of their domestic bond as converted by commercial banks .

Director- General of DMO, Dr. Abraham Nwankwo, stated this yesterday in Abuja, while giving an update on the Federal Government’s bonds reprieve for indebted states government.

According to him,

L-R: Bayelsa State Governor, Seriake Dickson; Principal Security Officer (PSO) to the Governor, Mr. Ebipamowei Joel Okoyen and state Commissioner of Police, Mr. John Okafor, during the decoration of Okoyen with a new rank as Chief Superintendent of Police, in Yenagoa.

Don't cover cases of human rights abuse, Kenyan CJ tells NHRC Tunde Oyesina

TUESDAY,AUGUST 25, 2015 NEW TELEGRAPH

Bar Association (NBA), also called on the Federal Government to be mindful of the rights of innocent citizens while prosecuting the war against the Boko Haram terrorists in the North-East.

Speaking during his visit to the headquarters of the NHRC in Abuja, Justice Mutunga noted that in prosecuting the war against terror, there must be balance between security and rights, adding that achieving such goals was usually a difficult one even in developed democracies.

He noted that it was necessary to find the balance for the stabilisation of the

society, adding that due process of law and rules of engagement must be followed.

“These strategies must conform to the principles of rule of law so as to avoid infringing on the rights of innocent citizens. To do otherwise is to put the citizens in a very difficult situation of double suffering.

“Inhumane and murderous as they are, they cannot be our teacher and we cannot therefore treat them as they treat us.

“As painful and unpopular as this statement may sound, terrorists, rapists, murderers, drug traffickers, they have their rights under our constitution.”

IGP redeploys 4 DIGs Job Doma (now DIG incharge of Department of Finance and Administration (DFA), FHQ Abuja.

DIG Kakwe Christopher Katso (now in-charge of Force Criminal Intelligence and Investigations Department (FCIID), Abuja. DIG Chintua Amajor-Onu (now in-charge of Department of Information and Communications Technology (ICT), FHQ Abuja and DIG Jubril Olawale Adeniji (now

in-charge of Department of Research and Planning, FHQ Abuja.

The DIGs, who retained their positions are: Mamman Ibrahim Tsafe, (DIG in-charge of Department of Logistics and Supply, FHQ Abuja), Saliu Argungu Hashimu (DIG in-charge of Department of Training and Development, FHQ Abuja), Sotonye Leroy Wakama (DIG in-charge of Department of Operations, FHQ Abuja.

“the debt restructuring operation and their total loans to the 11 states which were restructured amounted to N322.788 billion.

He said the restructuring was effected using a re-opening of the FGNBond issued on July 18, 2014 which will mature on July 18, 2034, while the pricing was based on the yield to date of the bond at a 30-day average, resulting in a transaction yield of 14.83% Other impacts of the debt management operations according to him, will include: a drop in monthly debt service burden by a minimum of 55 % and a maximum of 9%, among the 11, an interest rate savings for the 11 states ranging from 0% to 9% per annum.

He said the debt restructuring exercise was open to all the 36 states of the federation, including the Federal Capital Territory (FCT).

On when the second phase of the commercial debt restructuring exercise will commence, he said that would depend on when the remaining 11 states complete their reconciliation of their loans with their respective banks.

Lagos wants 199 illegal Togolese sent home Muritala Ayinla

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he Lagos State government yesterday called on the Federal Government to prevail on its agencies to repatriate the 199 illegal immigrants currently camped at the Lagos Emergency Resettlement Centres (ERCs) in Igando, Alimosho Local Government area and Agbowa Ikorodu.

Secretary to the State Government, Mr. Tunji Bello, stated that the

state government could no longer continue to accommodate the illegal immigrants due to the enormous pressure put on the ERCs at Igando and Agbowa facilities.

He explained that the Togolese nationals were first sighted at Awolowo road, Ikoyi directly in front of the United Nations Refugees office. And immediately the Governor, Mr. Akinwunmi Ambode, was informed of their illegal presence at the location, he promptly

directed that the relevant state agency should take up responsibility of accommodating them, initially at the Emergency Relief Camp (ERC) in Igando and later at its camp in Agbowa Ikorodu.

Bello further explained that Ambode also directed that the Ministry of Internal Affairs, Ministry of Foreign Affairs and the Nigerian Immigration Services be notified, a directive that was immediately carried out.

EFCC decries smear campaign on Lamorde Emmanuel Onani

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he Economic and Financial Crimes Commission (EFCC), has described as infantile, the allegation of diversion of N1 trillion that is now the subject of investigation by the Senate.

The Commission, in a statement signed by its Spokesman, Mr. Wilson Uwujaren, said it would not have reacted to the report, but for its realisation that same was meant to impugn on the integrity of its Chairman, Mr. Ibrahim

Lamorde.

The statement entitled, “The N1tn mischief ”, reads: “The attention of the Economic and Financial Crimes Commission, EFCC, has been drawn to a report captioned, Alleged N1tn diversion: Senate to probe Lamorde’s alleged diversion of N1tn, which appeared ... of Monday August 24, 2015 containing salacious claims of corruption against the person of the chairman of the Commission, Ibrahim Lamorde.

“The EFCC should ordinarily not dignify the publication with a response as the motives of the promoters and their media allies are to impugn the integrity of the EFCC boss with fabricated stories of corruption.

“However, the Commission is constrained to respond, to expose the motive behind the sinister plot.

“In the first instance, claims of a N1trillion corruption in the EFCC is infantile and assaults the sensibilities of all reasonable stakeholders in the anti- corruption fight.

Politics 11

NEW TELEGRAPH TUESDAY, AUGUST 25, 2015

Controversy

Soyinka, Daniel’s rift deepens

13

Politics

Ortom, Suswam bicker over debt profile, probe Governor Samuel Ortom of Benue State is locked in a bitter fight with his predecessor, Dr. Gabriel Suswam over the debt profile of the state and the ongoing probe of his administration. PHILIP NYAM and CEPHAS IORHEMEN present the crossfire on the issue

T

he issue of the high debt burden inherited by Governor Samuel Ortom’s administration from his predecessor, Gabriel Suswam, was one of the major challenges that confronted the present administration in Benue State. It was clear from the onset that the Ortom’s administration would meet this challenge owing to the fact that he was not his predecessor’s ‘anointed candidate’ for the plum job and so, on leaving office, the former governor made a public pronouncement while presenting his handover notes to Ortom that he left a debt profile of N9.2 billion for him and regretted that he did not take the state to greater heights after spending eight years in office.

But contrary to the claims by Suswam that he left just N9.2 billion, preliminary investigation

by Governor Ortom revealed initially that he inherited a whop-

AYODELE OJO

DEPUTY Editor, POLITICS ayodele.ojo@newtelegraphonline.com

© Daily Telegraph Publishing Company Limited

Ortom

ping debt burden of N90 billion with a promise to still scrutinise the records in detail to ascertain the actual debt profile considering the huge salary arrears, allowances, pensions, retirement benefits as well as other obligations to contractors.

He listed the debts as N50 billion for on-going contracts, N18 billion for certified ones, N12 billion for salary arrears, and about N10 billion for bonds and bank loans. He explained that because of the huge debts incurred, he had no choice than to borrow N10 billion to pay salaries of workers who were owed for five months, and added that the money would be utilised to ensure smooth takeoff of both the executive and legislative arms of government.

Ortom said that the development was necessitated by the propensity to demonstrate to the state workforce that he was seriously concerned about their plight. He also persuaded striking lecturers at the state-owned university to call off their four-

Suswam

The present administration took loans to pay salaries.

But till date, the sole purpose of the loans has not been achieved

month-old strike which has since been suspended over three weeks now.

Consequently, Governor Ortom constituted two judicial commissions of inquiry to probe the administration of his predecessor over alleged corruption between 2007 and 2015, for which billions of naira have been looted from the treasury of the state.

The inquest The transition committee set up by Governor Ortom to investigate Suswam’s handover notes recently threw up another controversy when it submitted that the Suswam’s administration looted billions of naira thus projecting the debt profile again from N90 billion to N130 billion.

Chairman of the committee, Mr. Mike Iordye, at the presentation of its reports to the governor said he discovered that the former governor in 2014 through his Commissioner for Finance, Mr. Omadachi Oklobia, entered into a deal with a stockbroker,

MS Elixir Securities, to sell N10 billion worth of stocks where over N8.4 billion was realised out of which N5.3 billion was paid to Zenith Bank account number 101582648, which was later found to be the expenditure account of the ministry.

He disclosed that N579 billion was withdrawn at different intervals for either Government House expenditure, military retreat or UBA capital without been accounted for. The transition committee chairman also said over N10 billion as arrears of pensions and gratuities was presented by the board of pensions during its visit to the 23 local government areas of the state, adding that of the over N7.743 billion the state received from the Federal Government for payment of SUREP staff, only over N1.236 billion was utilised for the purpose from May 2012 to December, 2014, while the sum of over N6.507 billion went into priCONTINUED ON PAGE 12

12

Politics

TUESDAY, AUGUST 25, 2015 NEW TELEGRAPH

Ortom: I inherited N130bn debt C O N T I N U E D F R O M PA G E 1 1

vate pockets.

The PDP position The opposition PDP, however, did not take the controversy surrounding the debt profile of the state and subsequent rise in the state’s wage bill from N2.7 billion to N3.7 billion with levity. The party described the sharp wage increase outrageous, and tasked the governor to explain to the people of the state the N1 billion difference less than three months in office.

Akume

Dangote

Ayu

Suswam’s reaction Apparently unhappy with the quantum of allegations against him by the Ortom government and the probe of his administration, Suswam challenged his successor to extend his plan to probe his administration to cover the Senator George Akume’s government to unravel his role in the sale of Benue Cement Company (BCC).

The company was sold to Alhaji Aliko Dangote during the Akume’s administration between 1997 and 2007 and it is alleged that the then Minister of Industries and estranged political ally of Akume, Dr. Iyorchia Ayu, was in cahoots over the sale.

Speaking at the burial of a chieftain of the PDP, Elder Atoza Hindan at Katsina Ala, Suswam urged Governor Ortom to extend his tentacles of probe back to the days of Akume as governor of the state and probe the sale of government assets including Benue Cement Company.

“I am waiting for the outcome of the probe and we are ready to be held accountable where found wanting. I was an administrator of the state for eight years, and during my tenure, I was privy to information and records of other persons too. It all boils down to how one manages and builds on shortcomings. I can’t blame anyone for the probe, but urge that the probe also looks into the sales of government assets including BCC, our major assets base,” said Suswam.

The former governor accused the Ortom administration of obtaining billions of naira as loans but yet cannot pay salaries to workers three months after taking over the mantle of leadership of the state. “The present administration took loans to pay salaries. But till date, the sole purpose of the loans has not been achieved. Yet, fictitious figures has been released to justify the bloated wage bill as previously published. In addition, apart from the loans heaping and increasing by the day, there has also been an improvement in the state’s allocation too,” Suswam added.

Defending Suswam Defending his principal, Suswam’s media aide, Chief Anawa Joseph, told New Telegraph that “when Suswam was leaving office, there was nothing, they were also running government at a deficit because the state depended so much on allocation from the federation account and when the federation account started dwindling, it became very difficult to even pay salaries. That was why that administration left with some months of unpaid salaries to workers.”

According to him, “that also made it impossible for government to leave anything tangible for the new administration. And because of this, Suswam became restless, he was running here and there to get money to pay workers but it was impossible.”

Anawa insisted that Suswam left only N9.2 billion debt for the state. “Yes, Suswam administration left only N9.2 billion debt. The Ortom’s administration has already over

At one point, they mentioned N90 billion, at another point they mentioned N130 billion, yet at another point, they will mention another figure

bloated the debt profile and they are even contradicting things for themselves.”

He added: “At one point, they mentioned N90 billion, at another point they mentioned N130 billion, yet at another point, they will mention another figure. We are surprised because they themselves don’t know what they are saying. You can’t say a thing like salary that was supposed to be paid is an indebtedness that has been incurred for you to come and settle.”

Also making reference to the Akume administration, he said: “What we even inherited from the Akume’s administration was not even an issue to us. What you call debt is that which attracts an interest on it.”

On why Suswam failed to investigate Akume, the spokesman said: “Suswam did not probe Akume’s government because he wanted peace to reign in the state. Suswam has been an experienced politician who has been at the National Assembly for eight years before he came into government house as governor and he knew that if he starts probing somebody, he will be distracted as a sitting governor.

“Even the present Ortom’s administration, as he is starting his administration with probes, they will be distracted because one thing will be cropping here and there which involves people that are outside.

“So, instead of concentrating, they will be distracted that’s why Suswam, when he looked at the merits and demerits of that he said no, there is no need probing his successor.”

Ortom’s spokesman But in a swift reaction, the governor, through his Adviser on Media and ICT, Tahav Agerzua, said the resumption of full payment of salaries and overheads were responsible for the increase in the wage bill.

He said: “Hitherto, the past administration had effected deductions from salaries of civil servants for several months. Overheads were also not paid to ministries, departments and agencies for months. Governor Ortom commenced the payment of full payment of salaries and overheads in May. With these developments, it became impossible for the figure to remain at N2.7 billion.”

He explained that Ortom met an empty treasury, but inherited a whooping N90 billion debt profile from the administration of Gabriel Suswam.

A breakdown of the profile shows that N50 billion was incurred for ongoing contracts, N18 billion on certified contracts, N12 billion on salary arrears and about N10 billion for bonds, bank facilities and loans.

According to Agerzua, “as a result of the unfortunate development, there was nothing he could do than to seek approval from the state House of Assembly to borrow N10 billion to pay workers and facilitate smooth take off of government.

“The N10 billion loan was meant for payment of salaries as well as the take-off of the government. You know, both the executive and the legislative and to some extent the judiciary arms of government, had not taken off well since the inauguration of the present administration, and so the money was to also serve for that purpose too.

“You know, there are some important government fiscal responsibilities that had to be met. We have to buy vehicles for many new people, buy equipment and do many things for government machinery to take off.”

As it is, only an independent audit of the state accounts would tell whether it is the governor or his predecessor that is not saying the truth.

Politics

NEW TELEGRAPH TUESDAY, AUGUST 25, 2015

13

Soyinka, Daniel’s rift deepens Former governor of Ogun State, Otunba Gbenga Daniel, and Nobel Laureate, Prof. Wole Soyinka, may no longer be best of friends going by recent media attacks against each other. In this report, KUNLE OLAYENI writes on why their strained relationship rages

I

n July 2004, the Ogun State government organised series of befitting activities to mark the 70th birthday of Nobel Laureate, Prof. Wole Soyinka. That was during the tenure of former governor of the state, Otunba Gbenga Daniel.

Daniel, who was barely a year in office then, felt the revered literary icon was deserving of such celebrations considering his towering standing among indigenes of the Gateway State and global reckoning as distinguished prodemocracy activist.

The then governor poured encomiums on Soyinka. He told guests at a state banquet held at the Valley View Auditorium, Government House, Abeokuta that his administration decided to appreciate “the worth of our own who has proven himself to be most deserving of such honour.”

Describing the Nobel Laureate as an extraordinary ambassador of Nigeria and the entire black race, Daniel said: “Soyinka is a source of pride and inspiration as well as a harbinger of optimism for his generation and for generations unborn.”

“He remains the general who leads his army to the battleground, who has never joined the league of the fair-weather fighters who prefer to fire salvos while relaxing in their castles abroad,” he added.

The event had a galaxy of eminent personalities. They included former Head of State, General Yakubu Gowon (rtd); late Major General Abdulkareem Adisa (rtd), who represented former Military President Ibrahim Babangida; former Edo State Governor, Chief Lucky Igbinedion; former Attorney-General of the Federation and Minister for Justice, Prince Bola Ajibola (SAN); ex-presidential adviser, Chief Ojo Maduekwe; and then Minister of State for Agriculture, Chief Olawale Dada.

Others present were Chief Olabode George, late Ambassador Segun Olusola, Senator Jubril Martins-Kuye, Mr. Ayo Opadokun, Dr. Onaolapo Soleye and Chief Bola Kuforiji-Olubi as well as traditional rulers and top government functionaries.

Soyinka

Soyinka, in his remarks, was full of appreciation to Daniel and all those who graced the occasion for the honour done him. It was also at the event that he presented the middle-aged motorcyclist, Rasheed, who smuggled him out of the country through rough footpaths to the Republic of Benin during the heat of late General Sani Abacha’s regime.

But whatever cordial relationship and mutual respect that existed between Daniel and Soyinka had since fizzled out. Though the face-off started before the former governor’s exit from power, the no love lost is still very much potent today as public spats from the duo have continued to show.

Only penultimate week, Daniel accused Soyinka of engaging in selective activism, adding that the Nobel Laureate still needs to prove wrong former President Olusegun Obasanjo’s reference of him as “respected wine connoisseur” in matters of politics.

This salvo was in response to Soyinka’s jibe against the exgovernor in the current edition of Zero Tolerance magazine, a publication of the Economic and Financial Crimes Commission (EFCC).

In an interview granted the anti-graft agency’s magazine, he berated former President Goodluck Jonathan for choosing Daniel as South West coordinator of his presidential campaign.

The Nobel Laureate was also quoted as saying Daniel locked up the state House of Assembly complex for seven months, wondering why Jonathan chose such a personality to play a key role in his re-election campaign activities.

Genesis of the feud When Daniel rode to power on the platform of the Peoples Democratic Party (PDP) in 2003, Soyinka was one of the eminent

Daniel

We frowned at the ‘selective’ advocacy Professor Soyinka had recently descended to in his version of ‘activism’

personalities often venerated by his administration. As the regime progressed, the Nobel Laureate was seen not only as a father figure but also friendly statesman. The harmony lasted throughout the ex-governor’s first term in office.

But soon after Daniel won re-election for a second term in 2007, things began to unravel in his party. The crisis polarised the then ruling party and ultimately pitched the leadership of the state House of Assembly against the executive arm of government.

By 2010, the conflict had deteriorated to the extent that the 26-member legislature became divided into G15 and G11 factions led by Tunji Egbetokun and Soyemi Coker respectively.

Daniel supported the minority lawmakers.

The tussle eventually led to the closure of the state House of Assembly complex for seven months during which political supporters and antagonists of the then governor engaged in supremacy battle for the soul of the state.

Dissatisfied with the unrest in his home state, Soyinka joined the fray. He picked holes at the Daniel administration and his criticisms drew wide publicity.

‘Governance by billboards’ remark One of the blistering criticisms by the Nobel Laureate against the Daniel regime was his ‘governance by billboards’ remark. Soyinka was in his candid self while delivering a lecture in honour of the birthday of Chief Sobo Sowemimo in Abeokuta in November 2009. He condemned what he described as the concept of governance by billboards.

The literary icon was particularly miffed at the rate at which billboards sprouted up in various parts of the state, which more of-

ten than not, sang the then Governor Daniel’s praises. He observed that the billboards’ messages did not represent the realities on the ground.

He said: “Traversing our state these days, a visitor cannot but remark a phenomenon that triggers off memory of that phase of Abacha’s desperation for selfperpetuation, one that resulted in the spouting of sycophantic excrescences on the landscape and airways of the most stomachchurning kind, the unbridled praise-singing that seeks to conjure up universal appropriation even from trees, rocks, hills and valleys-extending even into infants!

“At least, Sanni Abacha had a purpose, however, sinister and warped. To what end is the present inundation of such fulsome choruses in Ogun State? Is governance no longer supposed to be by performance and example? Or have we settled for a culture of governance by billboards?”

But Daniel and his supporters vehemently disagreed with Soyinka and accused him of making incendiary comments. From the barrage of reactions that came from the governor’s loyalists, it was obvious that Soyinka had been marked as ‘enemy of the Daniel administration.’

Controversial town hall meeting Soyinka did not relent in his intervention. In December 2010, he organised a town hall meeting to resolve the leadership crisis in the House of Assembly.

Under the aegis of Save Nigeria Group (SNG), the Nobel Laureate convened the meeting, which he described as “a fact-finding mission” at the premises of the Cathedral Church of St. Peters Ake, Abeokuta. Many loyalists and opCONTINUED ON PAGE 16

14

TUESDAY, AUGUST 25, 2015 NEW TELEGRAPH

Opinion L

Anti-Corruption and Deceivers-in-Chief My Word

ast week, Alhaji Junaid Mohammad, made some uncomplimentary remarks against the Igbo following which some citizens sought my views.

I feel reluctant to join issues with an unstable fellow who got to where he is today on account of discriminatory policies that allowed him education and career promotion on criteria far below the minimum standard expected of me. Junaidu being a product of such discriminatory standard is a man of low intelligence hence his insult against the nation’s most progressive and productive tribe is neither a shock nor surprise to me.

Unfortunately we are a nation of deceivers, sadly ruled by deceivers in chief. It is even more sad that we are willfully allowing ourselves descend into a Nazi state where the rule of the mob is becoming the order of the day and peaceful dissension and right to self-determination are viewed through the lens of sedition and treason but we must not be dissuaded even if may not be able to stop extremists like Mohammad Junaidu from attacking and killing hapless citizens. We also may not be able to make Lai Mohammad to stop lying. I don’t also think we can stop PMB from habitually making himself the accuser and the judge at the same time, nor can we make APC step down its agenda to make Nigeria a one party state.

I don’t think we can make extremists like Junaidu disappear by just resisting their agenda but we can weaken them and reduce their capacity for evil by confronting them with the truth.

On corruption: PMB’s stance on the subject is not new. He campaigned and won election on the promise that he will end corruption and I think majority of Nigerians support his stance and are anxious to meet the saints who will form his cabinet. What is new however is the on- going mob factor and blackmail and of course the unusual converts of the war against

CLEM AGUIYI

myword@gmail.com 08034747898 (sms only) corruption some of who ought to be in jail were Nigeria a sane place.

Imagine BRF, unable to justify his expenditure of N78 million for a mere website upgrade resorting to calling his accusers dirty pigs. It’s amusing finding some of our former Deceivers- in- Chief queuing behind the anti -corruption war and you begin to wonder the motivation and what they did with corruption when they had their time as leaders.

No right thinking person should be opposed to the war on corruption and recovery of looted funds but the concern being expressed is that the war must not be selective or targeted against political opponents or perceived enemies. I am against the president passing judgment on citizens even before the jury is constituted. I am against selective probe and I am in full support of judicial conclusion of every corruption case.

I believe we need to hold the states and Local Governments accountable. We need to revisit the Halliburton scandal. We need to probe the activities of NNPC beginning from theOlusegun Obasanjo era and recover all looted funds. We need to probe the failed power projects and the implementation of the privatization policy to determine if the nation was shortchanged.

We cannot afford not to beam the searchlight on what happened to the economy of Rivers, Imo, Edo, Osun, Lagos and Kano . We must show that there are no sacred cows and hiding place for treasury looters.

We must use the law to fight them hence

the need to avoid pitfalls of the past. Already some people are reading mischief and witch hunt in the attack against Dr. Ngozi Okonjo Iweala , Diezani Madueke and other key actors of the Jonathan administration.

Mostly vilified is Mrs.. Diezani AlisonMadueke who was visible in the past government as Petroleum Minister. She has variously been accused of stealing $50bn, $40bn, $20 bn, $18 bn , $12 bn and now $6bn.

The figure kept changing depending on the side of the bed a Buharist woke up from.

At the peak of the 2015 presidential election her detractors went to town with the unfounded allegation that $180 million was found under her bed.

Anyone who knew the former Minister will be shocked by the mountain of allegations against her because this is a woman that should be encouraged for her pedigree and contributions to the development of the oil and gas sector.

For the first time over the last three decades, Mrs. Diezani Alison-Madueke as minister for petroleum set up various open audit processes.

She submitted to an open forensic audit which was based on the $20 billion that was said to be missing by the former CBN Governor.

Mrs. Diezani Alison-Madueke is a product of the most organized private sector which is Shell Petroleum, where she has spent 17 years in deploying her expertise.

In 2006, recognizing her track record of excellence, she was appointed to the board

of Shell Petroleum Development Company Nigeria Limited, as External Affairs Director, making her the first female to be so appointed in the history of Shell Petroleum Development Company’s business practice in Nigeria.

Under Mrs. Alison-Madueke, deepwater oil production received major enhancement with the prospects of averaging 180,000 barrels per day. Gas supply for power generation and industrial use has been sustained exceeding demand from the western and eastern axis. Available records indicate that the volume of gas available is exceptional in the history of oil and gas in Nigeria.

Mrs. Alison-Madueke who championed the petroleum industry bill (PIB), and opened up the industry to all Nigerians against the pleasure of oil cabals, has obviously stepped on the toes of the cabals that plagued the industry when she came in. The hands of the cabal can be seen in her well-oiled travails.

Nigerians can remember very well the Umaru Dikko diplomatic baggage episode during the tyrannical regime of Buhari in the 1980’s, when a kidnap attempt on Dikko by the military junta was foiled by the British.

Dikko’s crime was being a visible cabinet minister in the Shagari’s government. The Military led by Buhari imagined he would have made a lot of money and falsely accused him of embezzling $6 billion US dollars which is yet to be proven to this day. Nobody cared for the truth but Buhari’s indiscretion almost cost Nigeria diplomatic relations with Great Britain. Umaru Dikko we recall lived the rest of his life in this country and died in penury and abject poverty.

Where then was the money he was accused of stealing? Where are the Umaru Dikko’s estates? Is Diezani who is recuperating in a British Hospital having suffered pancreatic failure another Umaru Dikko in the making?

LETTERS TO THE EDITOR

Buhari and Hajj NIGERIANS should collectively applaud the recent decision by President Muhammadu Buhari to cancel government delegation to Hajj. Nothing reflects a more conscious and disciplined approach to blocking official leakages of Federal Government till. Though some detractors have dismissed that decision as merely playing to the gallery.

What this set of detractors don't know is that a President that is willing to take a hard stance on the wastage of a million dollars on religious tourism will go to the end of the world to save a billion dollars for the government.

For the large numbers of grateful Nigerians, the consideration is that a devout Muslim President would dare take the bull by the horn to assert the non interference of government in religious affairs. Nigeria is certainly moving towards its constitutionally defined character of secularity, it starts

with decisions like this.

Of course, the matter of government stopping the sponsorship of pilgrims, either to Mecca or Jerusalem, had become item of speculations in the public space overtime because of its negative impact on scarce resources. Not a few administrations at the Federal level had toyed with the idea of exiting any form of commitment to religious tourism, no less was the administration of the immediate past government of Dr Goodluck Jonathan. Some of his supporters peremptorily argued that if such decision had been made during his (Jonathan) presidency it would have been greeted with a loud public outcry, but the clear response to this is that the past government lacked the political will to stop a policy that eats into the national treasury without commensurate returns to government and people.

•Ayomide Alawode, Lagos.

Maybe Ibiam should write again IN a protest letter sent to Her Majesty Queen Elizabeth II, Sir Akanu Ibiam wrote that he was renouncing all the awards given him by the British Government, because he once believed that the country was propagating the Gospel of Jesus Christ, but did not see reason why the Christian-Britain would support the Muslim-Nigeria, against Christian-Biafra, during the 1967 war.

Ibiam highlighted in that letter that during the months of May, July, August, and September, 1966, Northern Nigerian soldiers and civilians planned and committed the "most atrocious crimes against Eastern Nigerians – now citizens of the Republic of Biafra."

He did not end there, he fumed, saying that sadistically, brutally and in cold blood, they murdered and

slaughtered thousands of “my brothers and sisters” who were then living in Northern Nigeria and other parts of the former and defunct Federal Republic of Nigeria.

Ibiam further said that they killed innocent children, helpless women, and defenceless men without any reason or rhyme.

They entered churches and hospitals and slaughtered them in cold blood. And most unbelievably yet only too true, they massacred women in actual LABOUR and their unborn children.

They plundered, looted, assaulted and raped women and burnt down the homes of Easterners and left them penniless.

He said that it was simply staggering for a Christian country like Britain to help a Muslim country militarily to crush another Christian country like Bi-

afra. “This is just too much for me, Your Gracious Majesty, this act of unfriendliness and treachery by the British Government towards the people of Republic of Biafra who, as Eastern Nigerians, had so much regard for Britain and British people,” said Ibiam.

And that persists till date, because contrary to the belief of some people that exPresident Goodluck Jonathan conceded defeat in the election that brought General Muhammadu Buhari to power, because he lost the election, a notable northern leader, Tanko Yakasai has affirmed the interview granted the ex-president in April, that northerners were spurred to kill people and destroy property if Jonathan had won.

• Odimegwu Onwumere, Port Harcourt.

NEW TELEGRAPH TUESDAY, AUGUST 25, 2015

15

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Daylight horror in Palmyra

he brutal murder by beheading of Khaled al-Asaad, an 82-yearold antiquity scholar in the ancient city of Palmyra, Syria demands attention. According to media reports, the elderly scholar was killed and his mutilated body hung in front of a rare sarcophagus depicting two priests dating from the first century because he refused to lead the militants to where valuable and ancient artifacts had earlier been moved for safekeeping from the vandals.

Besides hanging his mutilated body on a column in a main square of the historic site because he refused to reveal where valuable artefacts had been relocated for safekeeping for fear of the religious anarchists, his brutal murder refocuses attention on the ungodly activities of the jihadist group which has captured a third of the country of Syria and neighbouring Iraq and declared a “caliphate” on the territory it controls in the beleaguered Middle Eastern countries.

The dastardly murder has also highlighted ISIS’s preference for looting and selling antiquities to fund its activities – as well as destroying them. As a matter of fact, some outlets in the West have been identified as receptacles for the re-circulation of looted artefacts as those from other beleaguered centres. The brutal murder of al-Asaad is the latest atrocity perpetrated by the jihadi group, which has captured declared a “caliphate” on the territory it con-

trols.

Apart from wholesale looting and selling of antiquities to fund its atrocious activities, as well as destroying them, Syrian state antiquities chief, Maamoun Abdulkarim said Asaad’s family informed him that the scholar, who worked for more than 50 years as head of antiquities in Palmyra, was killed by Isis penultimate Tuesday.

Asaad had been held for more than a month before being murdered. Chris Doyle, director of the Council for Arab-British Understanding, said he had learned from a Syrian source that the archaeologist was interrogated

by ISIS about the location of treasures from Palmyra and was executed when he allegedly refused to lead the vandals its damaged monumental Roman-era ruins that are not only monumental but provocative to the deranged jihadists who are reputed for destroying artefacts they consider as idolatrous.

Asaad was beheaded before dozens of people in a square outside the town’s museum

“Just imagine that such a scholar who gave such memorable services to the place and to history could be beheaded … and his corpse still hanging from one of the ancient columns in the centre of a square in Palmyra,” Abdulkarim said. “The continued presence of these criminals in this city is a curse and bad omen on not only Palmyra but every column and every archaeological piece in it.”

Palmyr a-based activists reportedly circulated an unverified, gruesome image on social media of Asaad’s beheaded body, tied to a pole on a street in the city A board in front of the body allegedly spelt out the charges against him, including loyalty to the Syrian president, Bashar al-Assad and maintaining contact with senior regime intelligence and security officials as well as managing Palmyra’s collection of precious artefacts which Isis considers as “idols”.

ISIS, which follows a puritanical and medieval interpretation of Islam, considers maintaining such ancient and priceless statues to be apostasy.

According to Syrian state news agency, Sana and the UK-based Syrian Observatory for Human Rights, Asaad was beheaded before dozens of people in a square outside the town’s museum. His body was then taken to Palmyra’s archaeological site and hung from one of the Roman columns.

The public display of the Scholar's body brings back

memories of the g ruesome murder of Thomas Quiwomkpa, by his ally and Liberian leader, Samuel Doe. The former's private part was hung on the antenna of a vehicle which drove round Monrovia.

Amr al-Azm, a former Syrian antiquities official who ran the country’s science and conservation labs and knew Asaad personally, said the “irreplaceable” scholar was involved in early excavations of Palmyra and the restoration of parts of the city.

“He was a fixture, you can’t write about Palmyra’s history or anything to do with Palmyrian work without mentioning Khaled Asaad,” he said. “It’s like you can’t talk about Egyptology without talking about Howard Carter.

Palmyra flourished in antiquity as an important trading hub along the famous Silk route. Asaad had worked over the past few decades with US, French, German and Swiss archaeological missions on excavations and research in Palmyra’s famed 2,000-year-old ruins, a UNESCO world heritage site that includes Roman tombs and the Temple of Be Apart from refocussing global attention on the evil activities of the extremist group, the beheading of a harmless intellectual who posed no threat to any one, the brutal murder of al-Asaad definitely reaffirms the sanguinary extremist group as more interested in mindless bloodletting than reformatory crusading.

Its leaders deserve to answer for crimes against humanity which this easily qualifies for!

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16

Politics

Obasanjo

TUESDAY, AUGUST 25, 2015 NEW TELEGRAPH

Jonathan

Amosun

Soyinka vs Daniel: No end in sight C O N T I N U E D F R O M PA G E 1 3

ponents of Daniel’s government were in attendance.

“It is unacceptable that the House of Assembly still remains shut. It means that somebody is subverting the democratic process. It is a very sad reflection of the progressive nature of Ogun State. It should be reopened,” Soyinka had said.

But the meeting ended in a deadlock after the then PDP Publicity Secretary, Deji Kalejaiye, alleged that it was arranged in favour of opposition leaders in the Action Congress of Nigeria (ACN). He faulted the composition of those invited to sit at the high table, which included Senator Ibikunle Amosun, Chief Olusegun Osoba, Chief Remilekun Bakare, Alhaji Tajudeen Bello and Pastor Tunde Bakare, among others.

Daniel’s defeat, Soyinka’s gain The protracted crisis in Ogun PDP eventually consumed Daniel’s government. His attempt to impose a successor on the state was truncated in 2011 as Amosun trounced Chief Adetunji Olurin and Prince Gboyega Isiaka, the governorship candidates fielded

by PDP and Peoples Party of Nigeria (PPN) respectively.

Daniel would later face sundry trials out of power. The EFCC arrested and prosecuted him over corruption charges. The case has not been dispensed with till date at the court. The succeeding administration also instituted several probes into the ex-governor’s tenure, which indicted him.

However, while Daniel licked his wounds at post-tenure, Soyinka became a major beneficiary in the new power configuration that emerged. His son, Dr. Olaokun Soyinka, was appointed by Amosun as the state Commissioner for Health. The literary giant also constantly enjoyed adequate recognition from the government.

But all along, Daniel made deft moves to remain relevant and

extricate himself from political baggage. There were speculations that Jonathan wanted to give him ministerial appointment notwithstanding his corruption case. This apparently irked some observers and Soyinka referred to it in the interview.

When asked whether a man under prosecution for corruption can be qualified for ministerial appointment, Soyinka said: “Do you need somebody like that? What about somebody like Gbenga Daniel who closed down a legislature for almost a year?

“When I heard this, I called Jonathan, I asked him, ‘is this your understanding of democracy.’ a governor closes down an assembly with the aid of the police and the place is under lock with Mopol guarding it. When Jonathan selected this person (Daniel) as his campaign manager in Abuja, I telephoned him; I said does this support democracy that you choose this person.

“It is not a question of this person is a governor, therefore come to my party, I can work with him. No. When a president picks somebody for a particular duty, it means you are pointing that person out as an aspect of government. So you see, it is impossible for me to pick Jonathan as a candidate.”

Ex-gov fires back But Daniel would not allow such comment against him to pass without a response. He fired back and this time, he accused Soyinka of selective activism. In a statement by his media aide, Steve Oliyide, the ex-governor also went down memory lane on his sour relationship with the Nobel Laureate. He expressed regrets that Soyinka and some others constituted themselves to opposition to demonise his administration.

In his statement titled “Why we must pray for Wole Soyinka,” Daniel flayed Soyinka’s criticism, describing it as “uncharitable”

When Jonathan selected this person (Daniel) as his campaign manager... I telephoned him; I said does this support democracy

and “misrepresentation of facts.”

He explained that Jonathan appointed him as South-West campaign coordinator in 2011 and not 2015 as claimed by Soyinka and he delivered overwhelmingly.

“And despite the strong wind of change and the very unusual circumstances in 2015, Otunba Daniel still delivered his federal and senatorial constituencies for President Jonathan,” the statement added.

The ex-governor noted that he holds Soyinka in high esteem and that was the reason his administration celebrated his 70th birthday with pomp and ceremony. He, however, said it was important for him to set the records straight so that the unsuspecting publics would not continue to be misled and misguided by the misrepresentation of facts on our recent history.

Daniel maintained that he had proven to have better democratic credentials “than most people, especially politicians that Soyinka had chosen not to criticise in his self-styled social activism.”

He also implored those who have been misguided by Soyinka’s misrepresentations “to do critical review of the performances of some of the governments and political actors he had promoted, supported and helped installed in relation to the commonwealth and improvements of the living conditions of the average citizens.”

The former governor denied that he locked up the House of Assembly during his tenure, saying the then Inspector-General of Police did on the orders of the president to forestall breakdown of law and order.

His statement partly reads: “The facts of what transpired in the Ogun State House of Assembly are well documented, including the personal accounts of Otunba Gbenga Daniel in his autobiography ‘Daniel in the Lion’s Den,’ a follow-up edition which is in due course.

“We frowned at the ‘selective’

advocacy Professor Soyinka had recently descended to in his version of ‘activism’ as if the whole world should be made to look at political issues only from the ‘selective’ prism and perspective of Professor Soyinka. We think not.

“The world had moved on with a lot of sophistication which professor should endeavour to relate to with open minds. We recall that Professor Soyinka, with some known members of the opposition to our government in 2010, had stormed the Ake Church Cathedral for what they claimed was a ‘Town Hall Meeting.’

“We do not want to believe Prof. is still smarting from that failed political encounter which was obvious to all discerning minds was politically motivated, ostensibly aimed at promoting the interest of other political parties and interest in which the son of Professor Soyinka was already slated to serve, as follow-up event eventually proved.

“We would rather think in consonant with age, status and accomplishments and respects which go with all these, Prof. should wake up to the reality of the law of diminishing returns and be circumspect in speech and public utterance, especially as he has the latitude of personal intervention on matters of conflict in Ogun State; he could simply call and seek audience with Otunba Gbenga Daniel and or any of the other principal actors involved then to make an unbiased judgement.

“We have followed the rather condemnable reference to Professor Soyinka by a former President of Nigeria (a member of the same generation with Prof) referring to him as a ‘respected wine connoisseur’ whose political judgement is suspect. While not subscribing to this derisive comment, it remains for Professor Soyinka to prove this wrong with his well-researched and highly informed judgement and comments on issues of politics.

He should endeavour to ask what actually transpired and why.”

NEW TELEGRAPH TUESDAY AUGUST 25, 2015

Arts

Taiwo Jimoh

T

he sleeping town of Arigidi Akoko in Ondo State came alive recently during the celebration of Okota river goddess festival.

Thousands of the adherents and members of Oodua People’s Congress throng the agrarian community to celebrate the river goddess and seek solution to their problems through prayers.

The two-day event was a boost to economic and social activities of the community as traders and hotelier used the opportunity to make brisk business from the annual ecotourisms festival. Some other neighboring towns were not left out in the business The Promoter of the festival, Otunba Gani Adam, in his address, said, “as a Yoruba we believe that spirit were creations of Olodumare, they are invisible they dwell in the woods, bush, forest and rivers.

“Despite the importance attached to the spirit, sadly their worship were condemned, and those who follow them are often despised and castigated as fetish worshipers”.

He disclosed that “it was as a result of the erroneous impression about the deities that contributed to the value reorientation through change of our social, political and economic life style that informed Olokun festival foundations’ decision to institute the continuous celebration of Okota festival and other annual events.

Adams added that the Okota River is located at the foot of a hill in ede-uyo in Ijaja quarters, and every July indigenes of the town gathered to celebrate and honors the river goddess.

“The river goddess possessed great supernatural power, anybody who drink the water will be healed of any illness such a person brought before the water.”

According to him, another way of celebrating the river goddess by the indigenes of the town was to “seek for forgiveness for our sins in the past years and asks for favour and blessing from her”.

Adams urged the federal

TONY OKUYEME Arts Editor tony.okuyeme@newtelegraphonline.com

© Daily Telegraph Publishing Company Limited

17

CULTURE

Okota river festival ends with pomp, performances government to lay emphasis on promotion of tourism as it will add to the economic growth of the country.

“It is an indisputable that the annual pilgrimage by Muslims to Saudi Arabia and the Christian to Israel has contributed to the economy of both countries.

“It is in line with these realities and need for our country to explore extra and alternative revenue earner for Nigeria and turns the country’s economic fortunes.”

Dr. Boluwaji Oshodi, a lecturer in the department of linguistics and Languages, Adekunle Ajasin University, Ondo State, who was the guest speaker, spoke on showcasing tradition and preserving inheritance through culture awareness.

He said, culture and tradition is a very complex web of expectation acquired by people of a society that dictates human activity.

He added that culture is not static, it involves the social structure and political philosophy, religion, language and education influences to which the society is exposed.

On day the of the celebration of the adherents had gone to the river as early as 7am to offer prayer at the groove and make some prayer requests and pledges to the river goddess if their prayers are answered.

A dance troupe performing Sango at the festival

Mr. Idowu Olajumoke, one of the adherents who came from Kano, said he came to honour his pledge to the river goddess.

“I had an ailment I was nursing for some years, but when I came to Okota River in 2013 I fetched the water and prayed at the shrine I was cured of the sickness. That is why I came this year to fulfill my pledge to the river.”

John Idahosa, a tourist from Edo State, said this is not his first time of coming to the festival.

“I prefer to coming to Okota River than going to Osun Osogbo, because whenever I

come to Arigidi I was always given access into the grove to pray and made some requests, but the reverse is the case in Osun,” he said.

Idahosa called on the Ondo State Government to give the festival prominence like Osun Osogbo, stressing that if promoted it would increase the state’s internally generated revenue.

The beauty pageant which heralds the festival which was keenly contested by 13 young ladies from different tertiary institutions was won by Akinrinmade Abidemi from Ben Carson School of nursing, Edo State.

She was crowned with the title of Miss Okota and presented with official car to accompany the office she occupied.

The monarch of the town, Oba Yisa Olanipekun called every son and daughter of the town to come home and development the community.

He also used the occasion to pray for the promoter of the festival, Gani Adams and his followers. Oba Olanipekun also prayed for Nigeria.

Highlights of the event were performances by popular fuji musician Abass Akande Obesere and Oodua Cultural troupe.

Return of the Masters as Auchi Artists Convention begins Tony Okuyeme

W

ith “Sustainable education, a panacea for peace and development”, as its theme, the Auchi Artists Convention begins today in Auchi Polytechnic, Auchi.

Highlights of the weeklong event include conference, workshop/talk shop, art exhibition, fashion show.

The Keynote address for the conference will be delivered by the Edo State Commissioner for Arts and Culture, Ms. Elizabeth Anena Jemitola, while the lead paper presenter is Prof.

Ola Oloidi, Fine and Applied Arts Department, University of Nigeria, Nsukka. Expected at the conference include Prof.

R. Rom Kalilu, Ladoke Akintola University of Technology,

Ogbomosho, who will be the Chairman, among other scholars and renowned artists.

According to the programme of activities for the convention, opening ceremony and paper presentation holds today; while workshop, presentation of papers, talk shop will hold tomorrow. The workshop and talk shop continues on Thursday; and on Friday, there will be courtesy visits and talkshop Award ceremony, fashion show and opening of the exhibition will hold on Saturday.

The art exhibition which would be declared open as part of the closing ceremony is also open to all participants at the Artists Convention. It is not limited to the Auchi School artist but also any interested participant. Engr.

Yemisi Shyllon is expected to be

the special guest of honour.

The Fashion show will feature the department of Fashion Design and Clothing Technology showcasing their creativity and prowess. The fashion show is opened to all tailors and fashion designers.

“The first of its kind in recent time in Edo North, this is to create a synergy between ‘gown and town’ – an influence on local community,” the organisers stated.

The week long activities shall also feature workshop in Clay modeling, Action Painting, Photography and Drawing.

The evening sessions shall feature Talk shop by the Masters on the lives, art, practice and special contribution to the world of art.

Return of the Masters is in

recognition of Auchi School alumnus who excels in areas of specialisation namely: sculptor Duke Igbinedion, DIVAS Benin; Mr. Olu Ajayi (painting); Dr. (Mrs) Ajiginnin Margaret (Textiles), University of Port Harcourt; Mr. Frank Mukoro (graphics), Effurun District Delta; Dr. Etuokwu Anthony (ceramics); and Mr. Omoniyi Makun (fashion), Yomi Casuals, Lagos.

“The Return of the Masters is a follow up to what began in October, 2014 when sculptor Olu Amoda donated a compressor to the Sculpture Department; the Rector who flagged off the event also received an award as an alumnus and in recognition of her giant strides in the infrastructural development of Auchi Polytechnic, Auchi.”

18

Arts

TUESDAY, AUGUST 25, 2015 NEW TELEGRAPH

Why I am World Queen – Ezenwosu Tony Okuyeme

W

ith about 30 songs to her credit, Sister Babynwa MariaTheresa Ezenwosu, popularly known as African Queen, has no doubt carved a niche for herself as a gospel musician.

The gospel singer said she became “African Queen” in 1999, and since then has released hit songs which include Future Hope, Something to Remember (Banynwa), Let it Be, Protect me Lord, Omalido, Love Celebration, Arise and Shine, Midnight Dance, Cry for me (for Dana air crash victims), There is time for everything, among others.

The Anambra state-born singer whose genre of music “cuts across but with rich lyrics”, says she has a special message for the world.

“God called me recently and instructed me to become his special messenger under the appellation ‘World Queen’.

“What it means is that it will serve as Ministry for the dissemination of His do’s and don’ts subsequently. Thus I will be liaising with world leaders and other religious leaders as the issues arise,” she said.

According to her, she is now ready to start the campaign against all the ills befalling mankind today.

“Things are getting out of hand all around the world. But as I brace up with full battle, things like poverty, terrorism, bloodshed, same sex marriage, oppression and other forms of vices and illegalities will be a thing of the past,” she declares.

She further claimed that any government or organisation that fails to synergise with her Ministry henceforth will be doing so at its own peril.

“Many governments fail because they fail to comply with God’s commandments but the opportunity for them to excel is here now with my presence.

No human being is superior to the other, so it’s going to be equal rights for all from now onwards,” she declared.

“Let all the nations of the world answer to God’s rule.

God has taken over the government of the world and God has appointed me, Sister Babynwa M. Ezenwosu Okpara Dimudu Ezechukwu Nwa Chukwu, the ‘World Queen’ to be in charge.

All the government of the earth shall be answerable to me. Let nobody be put to death again or shed blood unless the

World Queen approves it.

If any country or any people feel cheated or is deprived of their rights, they should forward their case to the office of the World Queen. Same sex marriage/practice is a abolished forever.

All the government of the earth should be paying the World Queen homage.

“I discourage any form of conspiracy or attack on my person because battle ready angels are on ground. The motto of my government is ‘God’s will ‘only’ will be done’. No body and no nation on earth can say that it is indispensable. In fact no country on earth will claim to own the world.

The world is owned by God and He gives it to whom He chooses and whom He knows will obey his laws for the benefit of humanity.

No country will say the world is theirs. Not even me, I cannot say so either because if God sees me that I am no more doing His will but God forbid, He can bring me down. My own is different because I am only the caretaker, it is not my government but God’s.

“I believe the main reason why God reject governments is because they reject God’s commandments. After all governments of the earth can do and undo when people go out of their own laws not to talk of God’s laws.”

Ezenwosu, aka World Queen

Them Know: New level for Ben 7 Moses Kadiri

S

Ben 7

urprisingly, it all began like a joke, when Olawepo Benjamin Opeyemi (aka Ben7), fancy playing instrument he sets his eyes on as a little boy; he would pick any instrument and play it endlessly. He never really saw himself as an artiste then.

But today he is collaborating with American superstar, Bread Boi in the single titled, Them Know. Apart from that another work with American superstar Dr. Dre is in the pipeline. The young and versatile 19 years old act, who is very good in freestyle and singing, said a lot of people are already asking him to release the song. “People have been asking me when will the song be released?”

The latest single, Them Know is another interesting song from the multi-talented act. He stressed that his talent has brought him to this level. “With Them Know l am telling the world that l am good at what l do. And to also tell them to watch out for me,” he boasted.

The act, who is on Jebon Records label, disclosed that he started work on the song since February, 2015, he hinted that the audio of the song is ready, however his management planned to release the audio and the video simultaneously. “What is remaining now is the video. I am planning to go to America to shoot the video with Bread Boi,” he said.

For Ben 7 who has released a couple of singles such as Kilode, featuring Terry G, Akorede, featuring Oritse Femi, and Leave Am Like That, said he is excited to work with Bread Boi. “The whole thing happen like a miracle,” he said.

“There’s this interview where l was

With Them Know l am telling the world that l am good at what l do

told to freestyle which l uploaded on my YouTube page. Bread Boi saw the work and he like it. That is how we became friends on Twitter, we started communicating.

“When l dropped Akorede video online the song was trending that was what he told me, he said it was through the Internet that he knew that the song was trending. That was how the idea of collaboration came. We have done the song, everything went on well. The song is perfect; it is a song that will shake the entire music scene. l will continue to give my fans the very best when it comes to good music,” he assures.

Ben 7 reiterated that it is rare for a Nigerian act of his age to work to feature American superstars, “mostly artistes of my age it is very rare to see such in Nigeria working with American stars. The collaboration is a blessing for me; and the song is different from what others are doing, when you listen to the song you will understand what l am talking about. You will definitely say this dude is good.”

He disclosed that he intend to give his fans something to savior before he travel to America to shot Them Know video. “I will release a

single titled Zukazu before l travel.

The song is a South Africa kind of song. The reason why l want to release the song is that a lot of people have listened to the song and they advised that l drop the song. Though Alaba market have pirated the song already, apologies, l don’t know how it got leaked.”

While in America, Ben 7 will be performing in series of concerts.

“They called me to perform in a concert in America; it is an opportunity for me to showcase my talent to the international community. l am really excited. Everything is happening very fast. To God be the glory.”

Ben 7 has trademark for titles.

His songs titles definitely have something to do with things around him, and he creates something unique from it and the output is magical. “It is talent. When you have it in you, you need to let it flow. I can’t say this is how l do it, but when l am singing it just comes out, that is what is called talent, it is not something you force yourself to create, people who know me can testify to it that when l am in the studio l do my thing my own way. l don’t think about what l want to sing, when l open my mouth the title comes out. l have a lot of songs that has not been released when you listen to the titles you will know what l am talking about.”

2020 his name will be a house hold name in Africa. “l will be the number one artiste in Africa that when you mentioned names of artistes my name will be among them. l want to use this medium to thank my record label Jebon Records for what they have done for me. l am really grateful if not for the label l would not be where l am today, “ he said.

NEW TELEGRAPH TUESDAY, august 25, 2015

19

Lecture Don condemns false Africa’s stories in foreign media

21

Education CONTROVERSY

The promotion of Ihuoma Asiabaka, wife of the ViceChancellor of the Federal University of Technology, Owerri (FUTO), Prof. Chigozie Asiabaka, by her husband’s administration has stired controversy in the university

Steve Uzoechi OWERRI

T

he dust raised by the elevation of Ihuoma Asiabaka to a professor at the Federal University of Technology, Owerri (FUTO) is yet to settle.

The promotion has torn the once peaceful university apart, following the seemingly disquiet that has continued to generate among the management, senior academics and other members of the university community.

At the centre of the ‘contentious’ promotion is the ViceChancellor of the university, Prof.

Chigozie Asiabaka, who is being accused of promoting his wife, Mrs. Ihuoma Asiabaka, from the position of Senior Lecturer to professorship without due process and in contradiction to the principle of Assessment Promotion and Appointment Committee (ASEPAC) in the appointment of professors.

In the meantime, questions are being raised by a section of the university community on the parameters and modalities employed by the vice-chancellor for the promotion of Ihuoma his wife.

Irked by the development, the workers are now challenging the disparities in the promotion exercise where about 20 senior non-teaching staff that were due for promotion as at October 1, 2014 from Grade Level 11 to Grade Level 13 were denied promotion by the administration of Asiabaka despite meeting all the requirements prescribed by the University’s Scheme of Service, while his wife (Ihuoma), who was barely two-year old in the university at

kayode olanrewaju Editor, education

kayode olanrewaju@ newtelegraphonline.com

© Daily Telegraph Publishing Company Limited

FUTO gate

Promotion of VC’s wife tears FUTO apart the time, was alleged to have been promoted within the same period.

To placate members of the university community, the promotion of more than 50 professors within the same promotion window which was allegedly intended to placate senior and influential academics following the promotion of the Vice-Chancellor’s wife failed to assuage the action of the vicechancellor or sway any support.

Investigations by New Telegraph, however, revealed that Mrs. Ihuoma Asiabaka transferred her service from the Imo State University (IMSU), Owerri to FUTO in 2012, to join her husband a year after he was appointed the ViceChancellor of the university.

While expressing dismay over the action of the vice-chancellor, a section of the university community wondered how Mrs. Ihuoma Asiabaka, who joined FUTO as a Senior Lecturer in 2012, was elevated to a professor in October 2014.

However, a section alleged that she was promoted to a Reader or Associate Professor immediately on assumption of duty at FUTO, insisting that Ihuoma Asiabaka’s promotion did not follow due process, as she was promoted twice between the 2012 and October, 2014.

As a responsible union, we concern ourselves with issues that could negatively affect the quality of academic activities in FUTO

Ihuoma Asiabaka, who is currently the Director of Centre for Women and Gender Development Studies (CWGDS), an outreach unit at the university, and the President of FUTO Women Association (FUTOWA), was said to have been deployed to the School of Management Technology, where she was said to have neither lectured any class nor supervised any student in the university.

Still faulting her promotion, they alleged that prior to her appointment and as part of the promotion requirements, she never headed any department or faculty (school) in the university as her portfolio seems to be largely concerned with social functions in the institution.

Ihuoma Asiabaka, who was said to have moved from the Department of Education Foundation and Counselling (Administration) at Imo State University, is being challenged that her course of specialisation does not in any way have academic space in FUTO, which primarily is a specialised university, running programmes in science and technology-based curriculum.

Meanwhile, while the controversy generated by the promotion of his wife was still rife, the vice- chancellor was said to have,

a fortnight ago, held his ground against the promotion of the 20 non-teaching staff.

When the issue was said to have been mentioned at the meeting of the Assessment Promotion and Appointment Committee (ASEPAC), chaired by the ViceChancellor that the 20 non-teaching staff members whose promotion were put in abeyance for no justifiable reason be promoted, Asiabaka allegedly maintained his ground that they could not be promoted, because ‘there is no vacancy’.

An impeccable source at the university, who spoke to New Telegraph on the condition of anonymity,º said some of the members of the committee argued whether the vice-chancellor was not aware that the various units of the affected staff had appraised them and forwarded their names for promotion and that the vicechancellor as part of his responsibilities had not at any time written to the units telling them that there was no vacancy before they commenced appraisal.

According to the Committee, the vice-chancellor is violating the University Scheme of Service, which stipulates that appraisal CONTINUED ON PAGE 20

20 Education

TUESDAY, august 25, 2015 NEW TELEGRAPH

Controversy over promotion at FUTO and promotion should be undertaking every three years, even as they noted that the affected members of staff had fulfilled the scheme’s requirements and should accordingly be promoted.

Speaking on the controversy, the university’s chapter Chairman of the Non-Academic Staff Union of Universities (NASU), Mr. Moses Elemoh, wondered that for some reasons they could not fathom and which is best known to the vice-chancellor, promotions of some staff were not effected last October, when it should which has led to the university handling issues emanating from 2013/2014 promotions till date.

While describing the situation as late promotion, Elemoh noted that NASU was compelled to meet the university Registrar, who assured that the Unified Cadre Appraisal Committee, which would precede the Council’s approval, would be convened to approve the promotions.

This he said happened about a fortnight ago and there is hope that promotion letters would be released by end of next month, but however, he noted that NASU is not unaware of the case of the 20 non-teaching staff in Levels 11-13 who would not be promoted.

He said: “Presently, we do not have any official document to this effect, but we are watching and waiting for the promotion letters to be released. If eventu-

ally they are not promoted, we shall ask questions. As for the controversy surrounding the promotion of the wife of the vice-chancellor, NASU thinks it is largely an academic matter which ASUU is better positioned to discuss.”

When New Telegraph contacted the Chairman of the university chapter of the Academic Staff Union of Universities (ASUU), Dr. Iyke Nwachukwu on the controversy surrounding the promotion of the vicechancellor’s wife, he said that the matter had not been brought before the union and as such the union could not make any pro-

nouncement on it.

He said: “But, since the issue is now in the public domain, we shall put all machineries in motion to look at the issues and appraise the facts of the matter. And, thereafter, we shall make our position known. As a responsible union, we concern ourselves with issue that could negatively affect the quality of academic activities in FUTO.” On the promotion impasse, he added: “We are aware that the university is making arrangements to review its Scheme of Service, but we have since opened talks with the university authorities to ensure that

Prof. Asiabaka

the new scheme reflects current realities in our environment.

We are on top of the situation and would be addressing issues as they come.”

But the Deputy Registrar in charge of Public Relations, Mr. Chike Ezenwa, had in a swift reaction, insisted that the promotion of Prof. Ihuoma Asiabaka followed due process and that the promotion of the 50 Professors had nothing to do with the promotion of the wife of the vice-chancellor.

According to Ezenwa, “Prof.

Ihuoma Asiabaka joined FUTO as a Reader (Associate Professor) and her next promotion

Prof. Ihuoma Asiabaka

Why Nigeria’s education is in crisis, by expert Kayode Olanrewaju

T

he Director of Kared Global Service, a Lagos-based independent overseas education consulting organisation, Mr. Kayode Adekunle Adeyeye, has attributed dearth of facilities and research equipment, shortage of lecturers, incessant strikes and close of universities, as well as inconsistent policies to some of the bane of Nigeria’s education development.

This was as he noted that these and many other factors have accounted largely for the continued exodus of Nigerian students, who leave in droves to other countries in search of qualitative higher education.

Adeyeye, who spoke with New Telegraph in an exclusive chat, said: “This is not so in other climes, where a student know exactly when to start their programmes and end it, unlike in Nigeria where students spend about six years or more for a fouryear programme.”

Kared Global Service, which part of activities is to assist prospective students, who aspire to study overseas secure admission and visas, also carries out the business of educational consultancy

within and outside the country.

According to Adeyeye, the organisation focuses on organizing educative summer excursion to overseas countries for secondary students purposely to provide them international exposure.

He said some of the countries, where the organization assist students for admission include the United Kingdom, Canada, the United States of America, Australia, Russia, Malaysia and Ghana, among others.

With personnel who are adequately trained and equipped to provide help and guidance to prospective students and parents aspiring to study abroad, the director explained that Kared Globaln Service, which represents and acts as consultant to over 20 institutions and colleges in those countries and others, offers counseling services to its students so as to make the right choice of courses and institutions.

Adeyeye, who said such services is imperative to the organization in order the pursue the right academic qualifications that will fix in to the job market, as well as career goal and the right institutions,

regretted that many Nigerian students in foreign institutions have made wrong choice of study, and institution as a result of lack of proper counseling.

While insisting that it is not enough for students to secure admission through online to institutions abroad as many of them face one problem or the other, especially on visas, the director, however, noted that they require detailed information about the tuition fees, accommodation requirements, scholarship opportunities and visa processing.

Towards this end, he said Kared Global Services guides the students on application processing, write admission purpose, detailed information on visa application processing and packaging, pre-interviews where necessary, especially the cost of living and studying abroad as international students, among others.

He said: “We have been in this business for over eight years with over 80 per cent success rate. Basically, we provide a platform for prospective students to achieve their dreams of studying abroad by making the entire process easier, faster and timely.”

Adeyeye, who stressed that

Adeyeye

the organization is working with reputable institutions and colleges, whose certificates are well recognised globally, said he had visited most of the institutions, apart from the fact that their representatives visiting Nigeria.

He said over 150 students have successfully passed through the organisation and are doing quite well, following the overwhelming feedback with good employment opportunities in the oil and gas, as well as engineering and banking industry.

His words: “Graduates of our institutions are doing quite excellently even in job interviews. Many of them that have returned are securing better employments in the banking and oil and gas sector.

All our students go through the Embassies for interviews to ensure they are qualified.”

was supposed to be Professorship.”

He explained further that her movement from IMSU to FUTO was a case of transfer of service, even as he maintained that her promotion was well deserved.

His words: “I must tell you that the management in FUTO today is driven by the quest for excellence. FUTO has had four years of uninterrupted administration largely owing to the principled approach of the vicechancellor which prioritized excellence in every sphere of the university administration.

Like the promotion of every other staff in FUTO, Prof. Asiabaka’s promotion followed the laid down procedures.

“And for the issue raised about some non-teaching staff, you need to understand how things are done here. We promote based on vacancy and if there is no vacancy now, how can we promote, which is why we are urging patience and understanding among the affected staff as their promotion shall be duly effected as vacancies occur.”

However, when New Telegraph visited the Department of Education and Counselling at IMSU, a senior lecturer at the department said: “I can only recall that when Prof. Ihuoma Asiabaka was about to transfer her service to FUTO a case was made for her and two other lecturers to be promoted to Readers, but the Vice-Chancellor turned down the request for some reasons.”

The source also noted that before moving to FUTO, Prof.

Ihuoma Asiabaka did not head any department or Coordinate any centre at the Imo State University.

Further investigations by New Telegraph revealed that it would take a minimum of seven years for one to move from the position of Senior Lecturer to Professor and a minimum of three years from Reader to Professor.

Some Professors at FUTO, who did not want their names in print, said: “Even at that, the senior lecturer must have his or her research works published in reputable international journals. And the published works must be adequate to justify the promotion to professorship. Even, before the person is promoted from Senior Lecturer position to a Reader, his papers are internally reviewed by a Professor in the same discipline to establish a prima facie case for promotion. Also, before one is promoted to professorship, such a person must have held substantial administrative positions such as Head of Department, Associate Dean, head of institutes or Director of unit and also shown some aptitude for academic work by supervising projects and thesis of graduating students, since it is believed that any professor can become a Vice-Chancellor, the conditions the promotion of Prof. Ihuoma Asiabaka has failed to meet thus generating the present controversy.”

Education 21

NEW TELEGRAPH TUESDAY, august 25, 2015

Mojeed Alabi

T

owards ensuring the safety and quality in the nation’s construction sector, a Professor of Quantity Surveying at the Federal University of Technology, Akure (FUTA), Deji Ogunsemi, has set an 11-point agenda for key stakeholders in the sector.

Some of the agendas, according to him, include the adoption of best practices in the design and construction, and that postoccupancy stages of the delivery process of construction projects should be devoid of corruption, nepotism, ethnicity and religious bigotry.

Ogunsemi, who delivered

FUTA don sets agenda for safety, construction quality the university’s 71st inaugural lecture on: “Value for Money in Construction Projects: The Quantity Surveyor’s Quest,” said the concept of value for money in the industry is not only to build good structures, but also to ensure that the right structures are built to meet the requirements of all stakehold-

ers, particularly the end users.

He reiterated the need for economy, efficiency and effectiveness, which he dubbed the ‘3Es’, saying they are relevant to construction projects.

These, according to him, include how much the project costs, how well has the money been spent and whether the

money had been spent on the right things in order to meet the expectations of stakeholders.

Other suggestions proffered by the don include availability of comprehensive documentation at the commencement of projects, enforcement of effective cost planning at the design stage for construction and careful evaluation of procurement options, among others.

He further appealed to the government to ensure domestication and full implementation of the national building code and the procurement act by state and local governments, saying these would go a long way in ensuring value for money in the construction

industry.

In his remarks, the ViceChancellor, Prof. Adebiyi Daramola lauded the excellent delivery of the lecture, even as he commended the lecturer’s impact in improving Quantity Surveying, which he said recently earned him membership of the Board of Directors of the Quantity Surveying Academy (QSA) of the Nigerian Institute of Quantity Surveyors (NIQS).

This appointment, according to Daramola, endorses the quality of Ogunsemi as a scholar, who is going to share his achievement in research, innovations, engagements and teaching activities.

Don condemns false stories from Africa in foreign media Mojeed Alabi

A The proprietor, Udemeh (sitting) with the graduating pupils

John Edu

A

call has gone to parents and guardians to enroll their children and wards in schools where qualitative teaching and learning are guaranteed.

The call was made by the Proprietor and founder of Royal Hall Schools, Agege, Lagos, Mr. Udemeh James, who said there was also the need for qualified teachers in schools to meet the basic requirements of the pupils and impart the right knowledge on them.

Udemeh, who disclosed this during the ninth graduation and prize-giving ceremony of the school, which took place on the school premises, however, urged parents to take into consideration conducive learning environment and updated curriculum before enrolling their children in a school.

He pointed out that this had become necessary in building a solid foundation and future for the children, saying a strong foundation in a child education is a necessity for their development.

While adding that the school will not relent in such areas as it has continued to record high success rates due to its emphasis on qualitative

Proprietor urges parents to embrace quality education education, Udemeh lamented the dwindling standard of education in the country due to inadequate funding by the government.

“This is one of the reasons why private schools are doing better than the public schools in the delivery of qualitative education,” he noted, saying: “Whatever the government has been doing towards improving education has not in any got to the private schools such as the SME and loans.”

Meanwhile, he insisted that in a bid to provide qualitative education, the cost of running private schools is high, even as Udemeh assured the parents that the school would not renege in its policy to recruit well-trained and qualified teachers, as well as provide best teaching facilities for the students.

While echoing the proprietor‘s position, a parent, Mrs. Amina Muhammed lauded the school management for its readiness to provide qualitative education and equip the pupils with necessary skills for future challenges.

She said: “I am a parent with four children in the school, I

have no regret bringing them here because of the quality teaching and learning offered in the school, which could be compared favourably with its contemporaries within and outside the country.

In her valedictory speech on behalf of her mates, the overall best pupil in the just released 2015 May/June West African Senior School Certificate Examination (WASSCE), Mariam Jackson, 15, expressed joy over completion of their secondary school education and the quality of education imparted on them.

“The school has really helped to improve me academically and morally,” she said, adding that she had no regret coming to the school.

She thanked their teachers for providing the right learning environment for them to acquire the best form of education.

The high points of the ceremony were choreography, miming and dancing by the pupils, as well as presentation of prizes to pupils who distinguished themselves in academics and other spheres of activities.

Ghanaian Professor of Sociology and Criminal Justice at the Virginia State University, United States of America, Nana Derby has criticised the picture of Africa being painted in the media, saying they are stories told on behalf of the continent by foreigners.

The don, who spoke at the 42nd public lecture of Covenant University, Ota, Ogun State, challenged Africans to rewrite the continent’s history by relying heavily on the philosophy of the founding fathers.

In her lecture, entitled: “A Deconstructionist’s Alternative in Post-Development Africa,” Nana said the attainment of political independence and the choices of dependency and modernisation has plunged Africa deeper into the world system, “not as equal partners, but as dependants and champions of the periphery noted for subservience, deprivation and vulnerability.”

Therefore, she argued that Africa must embrace the developmental philosophy of the founding fathers of the continent that fought for her freedom.

Nana

The professor said: “I do not in any way advocate the secession of African nations from the world system. Rather, I endorse the optimism of the African-centred growth and development that the men and women who spearheaded our freedom instigated.

“How do we establish the foundation so proclaimed several decades ago, and what identities do we project for ourselves.

Who speaks for Africa? And how do we build that Africa that is capable of managing its own affairs?”

Nana added: “For over 50 years, Africa’s dependence on foreign aid has been detrimental; yet the continent failed to advocate locally acquired programmes fitting valuable tour citizens and judiciously centred on our unique characteristics.”

In his response, the university’s Chancellor, Dr. David Oyedepo, who was represented

by Pastor Nathaniel Taiwo regretted that 58 years after the late Dr. Kwame Nkruma set the tone for Africa’s freedom, the continent has remained caged.

He suggested that for the continent to grow, Africans must pull down those issues that make them worthless by restrategising and refocusing its developmental drives.

22 Education Dr, Mary Iyayi, the founder and proprietress of Calyley College, Agidingbi, Lagos is a woman that has seen it all in the education sector. In this interview with KAYODE OLANREWAJU, she speaks about the journey and achievements of the 20-year-old school and the need to involve experts in the planning of the school curriculum.

When was the college established and what informed your decision to invest in the school?

First and foremost, I studied education and in all my working life I have been involved in teaching and impacting knowledge. Indeed, I worked to the point of being a principal in a secondary school and after some years I thought I could do more to affect the lives of children positively by establishing my own school and that was what brought about Cayley College.

I enjoy interacting with teenagers and I realize such personal touch could do in the lives of these young ones. Besides, I believe I have the means of shaping the tomorrow of these children.

Basically, that was what informed my investment in education; that is to provide qualitative education that will make the children attain their potential in life.

How has the journey been so far?

Well, the college took off in 1995, with only 11 students and more teachers than the pupils, but I want to add here that there had been quite some challenges, but the joy has kept me going. The journey, to the grace of God, has been quite rewarding and I am definitely sure that greater days are ahead. But, I am grateful to the Almighty to have given me the opportunity to come across these students who are my daily joy. So far, we thank God and give the Most High all the glory.

How has the government’s policy on taxation and other levies affected your operations as a proprietress?

Lagos State education sector is not peculiar. Currently, other states are crying under the yoke of unpaid workers’ salary. Though, Lagos State does not owe salary, however, what we are looking up to is that they will charge less taxes and levies. Of course, once we could physically see what the state is doing with the taxes and levies, we will be encouraged to pay. That is, if the money is being utilized properly. I am proud to be part of Lagos that does not owe teachers’ salary. We want to believe strongly that part of what has been used to pay the salary is what we contributed in one way or the other.

Once there is a evidence of the use of the taxes, I think if the government has to levy its people to sustain itself so be it. But, I am not saying we operators of private schools will not be grateful if the government charges less levies to reduce the burden of running our

TUESDAY, august 25, 2015 NEW TELEGRAPH

We’re building total child, says Cayley College director schools. What I am saying in effect is that education is not the only sector that is affected. However, we will still appreciate it if the multiple taxes and levies on our schools could be addressed. But as long as the money is used judiciously for the maintenance and sustenance of the state’s infrastructure, we will be encouraged.

What are the core value and strength of the college?

By and large, what I want to re-emphasise here is the mission statement of the college, which is “Building a Total Child for a Challenging Future,” while the core value is the sub-set of the mission.

What I mean is that in building a total child for a challenging future, it is not in academic alone because at Cayley College, our high point is the fact that it is the totality of the child that we are building – knowledge, moral, character and cultural values.

Could you mention some of the landmark achievements of the college in terms of laurels won?

Recently, the British Council organized a national art exhibition in which the college came second.

The school has participated in various competitions in the state and nation in which the college won several laurels. The college is doing very well and our students are doing the school proud. In literary and debating competition the college is doing well. We have even instituted a Literary and Press Day, which we invite other schools to

Dr. Iyayi

What I do is that I treat any student in the college as my biological children

compete with themselves and which has greatly improved the performance of the students.

So far, in the West Africa Senior School Certificate Examination (WASSCE) the college has performed credibly well. The college has recorded distinction in Mathematics and English Language.

Let me reiterate again that whatever examination we do in Cayley College, the results are the true reflection of the ability and performance of our children. This is because we have zero tolerance for examination malpractice because our focus is building total child for a challenging future and one of our core value is “the fear of God.” So, in Cayley College there is no examination malpractice.

However, in terms of output and performance, I am proud of our students. I can stand tall to tell you that whatever result we give to our students, it is the true reflection of their academic performance. We do not award marks to our children to impress parents or anyone so as to bring their children and wards to the college. We stand on standard and quality.

How will you describe the tone of discipline in the college?

I am a professional and I don’t believe in using a gun to kill a fly. But whatever measures to be carried out inform of discipline should at least be commensurate with the offence committed. More importantly, I strongly believe that counseling is very key because if

at any given time a child behaves properly, such student need to be rewarded. And, whenever a student committed an offence, such a child is punished appropriately.

If it involves corporal punishment such student will get it, but in line with some guidelines put in place by the management in order to ensure that such is not abused.

If it is counseling; that is, talking to the student is what is required, fine.

What I do is that I treat any student in the college as my biological child. So, whatever applies to my biological children will apply to my students.

You will agree with me that in bringing up children they sometimes needed to be shown the cane.

But at times the use of mere words could do the magic. Of course, the use of cane should not be abused because the children are normal children while the schools are not reformatory homes.

What facilities were put place to enhance quality teaching and learning process?

Without being immodest, the college is well-equipped with necessary facilities that will foster the total education of our students. We realized from the onset that we require putting in place those instructional materials that will make learning easy as well as harness the innate abilities of the children. Towards this end, we have put in place standard laboratories, well-equipped ICT laboratory with internet facilities.

The college has well-developed music and art room, as well as well-equipped Home Economics laboratory, which are structured to harness the students’ creativity, as well as a well-stocked library with modern books and facilities to aid students’ learning.

Our sporting facilities are adequate with lawn tennis court, table tennis and basketball courts provided to develop the children sporting abilities. Besides, our boarding house, which is optional, is wellstructured and equipped with adequate security measures and facilities to meet the total needs and welfare of the students.

What is your take on the quality of the curriculum and standard of education in the country?

To start with, which of the sectors could we say is okay and performing well in the country presently? But, the expectation is that with the new government, there is hope that the education sector will be properly addressed. Definitely, there are a lot of grounds to improve upon.

And, on the curriculum, I want to stress here that the country should be careful about the way we are changing our school curriculum. Apart from the fact that it must be carefully and well planned, and should not be changed too often as it is currently, we should always allow experts and those using the curriculum to be involved in the planning and development of the curriculum.

NEW TELEGRAPH TUESDAY, august 25, 2015

Campus

Orientation

Scholarship

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College equips students’ skills in SIWES

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MCIU institutes scholarship scheme for undergraduates

Don cautions Nigerians on drug use Oladele Oge UNN

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Prof. Williams presenting the Trainee Teacher of the Year Award to Falusi

Faculty equips student-teachers with practical skills Odeyemi Afis Olawale UNILORIN

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he maxim that “Education is what survives when all that has been learned have been forgotten,” came to the fore last week at the University of Ilorin (UNILORIN), when some students in the Faculty of Education were posted as studentteachers to some secondary schools in the university’s host communities.

But, prior to their posting, the students had earlier gathered at the university auditorium for their orientation programme, which marked the commencement of the four-month compulsory teaching practice.

In his lead presentation, the guest speaker, Prof. Olasehinde Williams, a Professor of Education Psychology, explained that education is a holistic experience which must be delivered through modern teaching methodology.

While reiterating the importance of the orientation exercise, she noted that, if education must attain its maximum potential, it should equip the learners with the right knowledge, valuable skills and improved attitude for proper readjustment and general adaptation to the society.

Thus, she pointed out that learning should involve an embodiment of three parts of the human body, based on the Waldorf Theory of Education.

Using the total child concept as her reference point, Prof. Williams explained that “meaningful learning could only take place when the head,

hand and heart are involved in the learning process in order to stimulate learning interest of the learner.”

Meanwhile, the 21st Century Pedagogy Group, a group founded by some students of the faculty urged traineeteachers to embrace teaching not only as a profession, but also as their contribution to national development.

The group decried the influx of untrained and unqualified teachers in most Nigerian schools, which it attributed to lack of interest of graduates of education to teach, but who opted for other lucrative professions.

Therefore, as part of efforts to encourage would-be-teachers of the faculty, the group honoured some outstanding students in the previous teaching practice exercise, in which Falusi Fisayo Samuel of the Department of Arts Education was adjudged the overall best trainee-teacher of the year.

Speaking to Telegraph Campus, the Coordinator General of the group, Akorede Patrick Oluwafemi disclosed that other programmes aimed at dignifying teaching profession initiated by the group are underway.

Also speaking, a member of the group, who gave his name simply as Sanni, lauded the guest speaker for her stimulating, interactive and inspiring lecture, saying: “Professor Williams has through her lecture made the tasks of the 12-week compulsory course much easier.”

The Vice-Chancellor, Prof.

AbdulGaniyu Ambali, who was represented by his deputy in charge of Academics, Prof.

N.Y. Ijaya, urged the trainees to be peaceful and dutiful at their respective areas of teaching assignment, even as she noted that the schools were eager to receive products of the university with open arms.

In the meantime, the Dean,

Faculty of Education, Prof. Alfred Adegoke restated the importance of the exercise to the participants, which he described as the most important phase of their professional training.

His words: “By now, you would have had a few years of preliminary training in this university. In other words, you have to bring everything you have learnt into bear during the teaching practice exercise.

When you leave this university, you will be judged according to your performance on the job and not by your certificate or qualification.

“Therefore, you are the image of the university when you leave and whatever you do out there will come back to the university one way or the other.”

The Professor of Counsellor Education tasked the trainees to serve not only their own interest, but also the interest of the profession they have dedicated ample years and resources to acquire.

don at the University of Nigeria, Nsukka (UNN), Prof. Chinwe Victoria Ukwe, has advised Nigerians to desist from imitate other people in using drugs, as well as selfprescription in order to address their health challenges.

Rather, she said they should as a matter of fact visit the qualified physicians before taken any medication.

This was part of the thrust of the 98th inaugural lecture of the university, which took place at the Princess Alexandra Hall of the 55-year-old institution.

In her lecture entitled: “Clinical Pharmacy in Nigeria: The Issues, Challenges and Way Forward,” the inaugural lecturer expressed worry about the state of rural health delivery in the country, which according to her, is caused by unqualified pharmacy and quack chemists who do not know the function of drugs they prescribe to their patients.

While insisting that such trend facing the pharmacy profession at the movement should tackled, Prof. Ukwe blamed it on trained pharmacists who are fond of given their operating licenses to the untrained pharmacists in order to make “quick money.”

Prof. Chinwe

Students seek end to corruption in construction industry Temitope Yakubu Ado Poly

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igher school students, under their umbrella group, the National Association of Quantity Surveying Students (NAQSS), SouthWest chapter, have called on President Muhammadu Buhari to use professionals in the fight against corruption in the construction industry.

They made the call in a statement jointly signed by the

President and Vice President of the association, Eniola Ayodele and Adegoke Alegunleye, as well as the General Secretary, Raheem Balogun and the Publicity Secretary, Hassan Musodiq respectively at the end of the association annual congress held last week at The Polytechnic, Ibadan.

The association, however, lauded the Nigerian Institute of Quantity Surveyors (NIQS) and all other professional bodies in the industry for their efforts in institution inter-rela-

tionship and to protect ethical standard in the industry.

“The institute has really worked to lobby the government to establish laws and policies that will encourage the promotion and developmental growth of the country.

Indeed, the institute has not only limit this to the building industry, as it understands that the practice of quantity surveying is not limited to the construction industry,” the students said.

According to the association,

the several calls over the year for the involvement of Quantity Surveyors in policy and decision making and the fight against corruption should be applauded. We call on the professionals in the industry, especially NIQS and NIOB, among other professional bodies to intensify effort by proposing other programmes that will ensure the success of government at all levels towards providing good and affordable housing and infrastructures for the citizens.

24 Education | Campus

TUESDAY, august 25, 2015 NEW TELEGRAPH

SIWES: ITF, college train students Emeka Onwudinjo UNIZIK

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he Student Industrial Work Experience Scheme (SIWES) Unit of the Federal College of Education (Technical), Umunze, Anambra State in collaboration with Industrial Training Fund (ITF) South-East Zonal Office in Awka has sharpened the skills of the students going to undertake the one-year SIWES programme.

It was at the orientation programme organised for students on their expectations and obligations as well as the regulation guiding the scheme.

In his address, the college SIWES Coordinator, Dr. C. Ugwuogo urged the students to put in their best during the industrial training programme, which according to him, was introduced by the Federal Government to bridge the gap between theory and practice among students of tertiary institutions in the country.

She said that the SIWES was strategically designed to prepare and expose students of tertiary institutions to the real life work situation they would encounter after graduation.

He explained that the major mandate of SIWES is to bridge the gap existing between theoretical knowledge acquired

from institutions of learning and real practice in the industrial world of work.

While addressing the students, the ITF Awka Area Manager, Mrs. Chinwe Okpara lauded the students for turning out en masse for the orientation exercise, even as she commended the lecturers for instilling good morals on them.

Mrs. Okpara, who also stressed that SIWES is aimed at bridging the gap between theory

and practice, however, urged the students to shun truancy, but take the scheme seriously as the experience garnered will go a long way in helping them to fit into the labour market.

She frowned at the attitude of some students, who take SIWES period as extension of their holiday, warning that ITF will monitor the exercise regularly from time to time without formal notice to the students.

Therefore, she advised them

to be mindful of their dressing habit and behavioural disposition during the scheme, by abiding by the rules and regulations of their place of attachment.

In her paper during the orientation, on: “Roles and Responsibilities of Stakeholders in SIWES,” one of the facilitators, Mrs. Chioma Egbobe, Head of Training, ITF Zonal Office in Awka, noted that the efficiency and success of SIWES depend largely on the government, the

The students during the orientation programme.

OPINION

Inadequate hostels and unending problem of squatting Saddam Samaila

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istory had it that in the late 60s and early 70s, Nigerian Government deemed it necessary to establish more universities in order to complement the few ones established by the colonial authorities and to address the needs of Nigerians seeking university education oversees.

Those were the universities, referred to as “first generation universities”.

Since Nigeria, as a country neither had nor did not have a university that could be referred to as indigenous ones, the leaders then planned and acted well in establishing those universities, which were equipped adequately by providing sufficient classrooms, well-equipped libraries and laboratories with the modern equipment as well as hostel facilities for students and staff quarters for lecturers.

The need for all these became imperative since students were admitted into all these institutions from all parts of the country as well as international or foreign students from other countries.

Particular attention was said to have been focused on the provision of decent, affordable and adequate hostel accommodation for students to enable them concentrate in their studies and allowed the university system to pass through them.

Then, the students enjoyed adequate accommodation while everything that made education worthwhile went well for them.

But, be that as it may, the situation changed at a stage of the nation’s development with increase in the number of technology institutions, and the consequent attendant increase in the students that were interested in acquiring university education.

However, today, it is different ball of game as students who are lucky to be allocated bed spaces in hostels in any uni-

versity are ‘kings and queens’ as hostel accommodation is no longer part of the university system in Nigeria of today.

In the few universities with accommodation provision for their students, many students are not as lucky in view of the policies of the various universities which keep the students at bay when it comes to hostel allocation. Most often, the lucky ones are the fresh and final year students, while other categories of students are at the mercy of the policy as they have to secure accommodation out the campus as “off campus students.”

However, many of them who stay off campus and who could hardly cope with their studies in order to do well resort to their friends or brothers or sisters as the case may be, to help them with accommodation arrangement on campus under the “phase squat in your room.”

In this case, such students are staying in the room “illegally.” At times the legal occupants allow such ‘illegal occupants’ to live with them free of charge while at other times they may be compelled to pay certain amount of money to all the other legal occupants to share.

Thus, the issue of squatting in the higher institutions in the country due to inadequate hostel facilities has become a matter of great concern not only to the students or their parents, but also to the school authorities as such practice, though not allowed, overstretches the limited facilities. Firstly, the ‘squatters’ do not usually have sound sleep as they sleep on mats or makeshift mattresses on the floor, thereby exposing them to be marched upon by other students who are on the beds due to the space constraint in such rooms for easy passage.

As squatters, such students have no place like drawers where they can keep their belongings, and above all they have no say in the affairs of the room since they are illegal occupants.

The situation is worse in state-owned universities, where there is no hostel facility for the students.

Towards this end, the management and government of state-owned universities should provide adequate hostel accommodation for their students, since doing so the students in all levels from first year to the final year would be sufficiently housed in the hostels. The inability of the universities to do that will only succeed in poor hygienic situation on campus, and low morale of students.

In view of the rampant cases of insecurity of lives and property on most of our campuses, which put the lives of students living off campus on the line, more attention should be paid to the need to provide adequate hostels for students for them to live on campus.

In the meantime, the Tertiary Education Trust Fund (TETFund) should collaborate with the institutions with a view to providing hostels for students.

Besides, other well-meaning corporate organisations such as banks and oil and gas industries should also as a matter of corporate social responsibilities support the universities by constructing hostels for the students to prevent them from living off campus, which expose them to vices such as prostitution, armed robbery and cultism.

More importantly, spirited individuals and philanthropists should assist in this direction to give our institutions a new lease of life. For instance, they should take a cue from the Theophilus Yakubu Danjuma (TY) Foundation which built and donated multi-million naira hostel facilities to the Ahmadu Bello University (ABU), Zaria. Other well-meaning Nigerians can emulate this good gesture in order to better the lots of our universities and the students. ● Saddam Samaila is a 200-Level undergraduate of Mass Communication at Taraba State University, Jalingo.

Industrial Training Fund (ITF), the supervisory agencies such as the National Universities Commission (NUC), the National Board of Technical Education (NBTE) and the National Commission for Colleges of Education (NCCE), as well as employers and students.

She, however, explained the responsibilities of each of these stakeholders to the students in order to derive the achievements of the scheme.

Meanwhile, the Provost of the college, Prof. Josephat Okechukwu Ogbuagu commended the officials of the ITF Awka zonal office for the orientation programme, which aimed at equipping the students with the nitty-gritty of SIWES training.

The provost, who gave the commendation when the ITF officials visited him in his office, however, lauded the Federal Government on the scheme, which according to him, is designed to promote the highly needed technological skills for national development.

According to Ogbuagu, the success of the scheme depends on coordinated efforts of the Federal Government, ministries of industry and education, the Industrial Training Fund (ITF), tertiary institutions, employers of labour and the students.

Pandemonium as cultists invade IMT Emmanuel Ahanonu IMT

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hat could have resulted to the killing of some students was last week averted at the Institute of Management Technology (IMT), Enugu, when a group of cultists stormed the institute to unleash mayhem on some of the students.

The blood thirsty cultists, who were armed with guns, axes, charms and cudgels were said to have turned the once peaceful academic environment to a theatre of war as they were shooting sporadically into the air on that fateful day.

However, the students and their lecturers as well as other members of the community scampered for safety.

Recounting their ordeal, a student recalled that the target of the cultists was a Final Year student of the Department of Mechanical Engineering, who they had marked to eliminate.

He recalled that the attention of the students was first drawn to the nefarious activities of the cultists when three suspected cult members, who are in their mid 20s, pounced on a final year student, beating and dragging him from his lecture room to the ground floor.

“Having forced their victim to the ground floor of the lecture hall, the suspected cultists pulled out their guns, kept in a black bag and fired the student but the gun failed to fire,” the student said.

In the meantime, many of the students sustained various degrees of injuries, while trying to run for safety.

Education | Campus 25

NEW TELEGRAPH TUESDAY, august 25, 2015

MCIU institutes scholarship scheme for undergraduates

Mrs. Ibru

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ichael and Cecilia Ibru University (MCIU), a private university in Delta State, has instituted a scholarship scheme for students aspiring to pursue their undergraduate programmes in the Faculties of Management and Social Sciences, and Natural and Applied Sciences in the institution for the 2015/2016 academic session, the management has said.

According to the university Registrar, Mr. Andrew Johnson Okwudei, while

announcing the scheme, there are 150 scholarships and bursaries under the scheme for offer.

This was even as he noted that every successful applicant would receive about N1million which covers the tuition fees for the duration of the recipient’s undergraduate study.

The MCIU Scholarship Scheme, which according to him, is entirely different from MCIU Scholars Scholarship Programme, will directly benefit students seeking admission into the institution for undergraduate studies in 2015/2016 academic session.

The scheme, Okwudei explained will offer series of opportunities such as tuition fees, bursaries, merit scholarship and sponsorships by some individuals and corporate entities.

The MCIU, the registrar reiterated is a “world-class institution dedicated to the alleviation of poverty through knowledge,” stressing that the university is seeking for students who are aspiring to pursue qualitative higher edu-

cation that will position them to play a meaningful part in making the society a better place.

The undergraduates courses offered by the university include Bachelor degrees in Accounting; Banking and Finance; Business Administration; Economics; Applied Biology; Biotechnology; Industrial Chemistry; Industrial Mathematics; Computer Science; and Industrial Physics.

“Students will be selected on the basis of their performance in the university’s post-UTME examination, personal statement and interview,” the statement further noted.

It, however, added that “a good personal statement must not exceed 500 words and it will offer detail information about the student, why he or she thinks he deserves the scholarship and how it will assist him or her to serve himself or herself and society after graduation.”

To be eligible for the scholarship scheme, the statement said that a student

The students with the Prof. Ozumba (4th left) and other principal officers of the university after the convention.

Students reiterate commitment to ethical standards Oladele Oge UNN

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tudents of the Faculty of Pharmaceutical Sciences, University of Nigeria, Nsukka (UNN), have said that the just concluded 40th annual National Convention of Pharmaceutical Association of Nigerian Students (PANS), which ended last Saturday has repositioned them for proper understanding and strength of the country’s unity.

The two-week event was flagged off with a football match among 12 universities between Monday and Friday at the Freedom Square football pitch, while the convention lecture with the theme: “Preparing the Nigerian Students for a Global Future,” was delivered by Dr. Nkechi Anyawu at the Princess Alexandra Hall of the institution.

The convention, according to the students, offered them platform to interact and share experience with one another as well as availed them of the opportunity to express their plight and the challenges facing pharmacy graduates in the country.

Besides, the convention did not only foster understanding among the participants, it also served as an avenue for them to debate and compare notes on global trend of pharmaceutical practice.

While welcoming the students to the convention, the Vice-Chancellor, Prof.

Benjamin Ozumba, said that he was impressed with the unity fostered among them, even as he charged them to sustain the existing mutual relationship, which he described as part of their contributions to nation building.

He, however, praised the Dean of the Faculty, Prof. Emmanuel Ibezim, the faculty members and students for hosting their colleagues from other institutions, assuring them that the university had already provided adequate security and conducive environment towards the successful hosting of the convention.

Addressing the students, the dean told the students that UNN has invited facilitators of repute in international best pharmaceutical practices who will disseminate useful ideas as well as brainstorm on issues peculiar to students and pharmacy profession at large.

Ibezim, who noted that the convention had provided the students with what he described as “time apart” where they are free from the usual hectic and encumbrances of academic programmes, said the convention would further expose them to numerous challenges plaguing the profession and how to solve them.

“There are numerous challenges

plaguing the noble profession of pharmacy in the country,” Ibezim added, listing some of the problems to include ill-regulated and chaotic drug in the country, which seems to have defied human solution.

Others, he said, are the new challenge of mounting and sustaining a home-bred six-year Pharm.D (Doctor of pharmacy) programme for pharmacy education in Nigeria, which is at its critical stage of implementation.

The dean lamented the obstacles and lip-service being paid by those in authority to numerous drug-related issues in the country, even as he condemned counterfeit or unwholesome drugs and drug abuse, which he described as a twin menace confronting pharmacy practice in the country.

Ibezim, therefore, urged the students to utilise their new initiatives and knowledge to address the problems as the various papers presented at the convention would go a long way in assisting to actualise their visions.

In her lecture, the guest lecturer, Dr. Nkechi Anyanwu, challenged pharmacists to work closely with members of the public in order to rid the society of the menace of fake drug menace, saying pharmacy students should be capable of communicating effectively with the people on health and drug-related issues.

must be at least 16 years old, obtained at least five credit pass in the Senior School Certificate Examination (SSCE), which must include English Language, Mathematics and a Science subject and in not more than two sittings.

Meanwhile, it added that the entry requirement for Direct Entry students must include the Joint Admissions and Matriculation Board (JAMB) Unified Tertiary Matriculation Examination (UTME) requirements for the students’ particular courses of study.

Agric varsity inducts vet doctors, begins PG programme Igbeaku Orji UMUAHIA

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he Michael Okpara University of Agriculture, Umudike (MOUAU) Abia State, has inducted 19 veterinary medicine doctors with a charge to uphold the ethics of the profession.

This was even as the university has commenced postgraduate programme in Veterinary Medicine.

At the second graduation and oathtaking ceremony, which took place at the Anyim Pius Anyim Auditorium of the institution, the Vice-Chancellor, Prof. Hilary Edeoga, said the College of Veterinary Medicine, which was approved in 2004, had since been mentored by the Veterinary Council of Nigeria through training programmes to ensure that it produced quality graduates.

He assured the students that the accommodation challenge facing the college would soon be a thing of the past, as construction work is in progress at the permanent site of the college.

“The buildings will be commissioned in the next few months,” he assured them, saying among other benefits the structures will provide, it will also enhance the quality of teaching and research in the college.

The vice-chancellor said with the quality of manpower in the college, including professors who are Fellows of the Academy of Sciences, the university has commenced programmes at the postgraduate level with the first set of students admitted in 2015/2016 academic session.

Edeoga reminded the newly inducted veterinary doctors that the principles of the oath they took underscored the use their “scientific knowledge and skills for the benefit of the society, prevent animal diseases, relieve animal suffering, improve animal production, promote public health and advance veterinary knowledge.”

While administering the oath on them, the President of the Veterinary Council of Nigeria, Prof. Garba Sharubutu, represented by Prof. Patrick Odeye reminded the doctors that the society places high expectations on them and urged the inductees not to disappoint the council, the university and society.

In his remarks, the Dean of the College, Prof. Arunsi Kalu disclosed that the 2014 set of veterinary doctors were the fifth set to be produced by the college.

26 Education

TUESDAY, august 25, 2015 NEW TELEGRAPH

Anglican Church suspends take off of Advent Varsity Yekeen Nurudeen Abuja

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ndications have emerged that the take off of the proposed Advent University, a faith-based private university owned by the Church of Nigeria, Anglican Communion, Diocese of Kubwa, in September this year, has been put on hold.

It cited non-approval of the university by the National Universities Commission (NUC), the agency responsible for approval and regulation of universities in the country.

The Chairman of the university’s Implementation Committee and former DirectorGeneral of the National Mathematical Centre (NMC), Prof. Sam Ale told journalists in Abuja that the suspension of the take-off of the university was due to the inability of the Church to secure 100 hectares of land for the university development as part of the Commission’s requirements and guideline for approval.

He disclosed that the church as a result of its success in primary and secondary school education provision, took the bold step in 2012 to establish a university in a bid to fill in the existing gap in the tertiary education sector of the country.

Ale recalled that the Church obtained the registration forms for the establishment of the university in 2013 after developing the academic brief and other academic requirements as part of requisites for its establishment.

He further noted that the original plan of the committee was to start the university on its 25 hectares of land situated at Kpeyegi where it has a secondary school.

Ale said: “The Commission has insisted that before the Church’s request to start a university could be granted, it must possess a100-hectare of land and that all efforts to acquire such a large expanse of land in the FCT had proved abortive.

“The Diocese had put in serious preparation with a view for the university to taking off in September, this year, but for the nonapproval by NUC, the planned take-off has been put on hold for now.”

The Professor of Mathematics, however, said that despite the challenge to secure the required parcel of land, the Church would not give up on the university, even as he pleaded with President Muhammadu Buhari administration to look into the Church’s request for the allocation of 100-hectare of land to it in the FCT for the university project.

Some of the participants with the organisers.

Foundation hones skills of female scientists in Lagos Mojeed Alabi

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owards improved competitiveness in science and technology development in Africa, and Nigeria in particular, about 38 female pupils across various secondary schools in Lagos were, penultimate week, camped at Greensprings Secondary School, Anthony, where their interests in Science, Technology, Engineering and Mathematics (STEM) were inspired.

The event was organised by the United States of America-based Working to Advance African Women (WAAW) Foundation.

The STEM camp, which was the third in its series to be held in the country, was an eye opener to the participants, who expressed their renewed optimism to invest

their future in science and technology.

One of the participants, a 15-year-old pupil of Mind Builders High School, Ikeja, Eunice Iluonaze, whose group after the week-long practical training built a solar powered energy to power pump machine, said her passion for science had been heightened by the experience garnered at the camp.

Iluonaze, who qualified to participate in the training, having won a competition where she presented a wind-propelled boat on behalf of her school, said meeting other girls with similar ambition and interacting with American tutors, had raised her hope that the dream to become an engineer would soon become a reality.

Similarly, 13-year-old

Adebayo Eniola of Durable Comprehensive High School, Ijegun, Lagos, said sharing experiences and dreams with her counterparts from various backgrounds and schools had opened her eyes to series of opportunities in sciences.

Though, her hope is to study Medicine, she noted that her renewed understanding of the roles of women in technology has changed.

Impressed with the quality of the pupils’ exhibition of various projects designed by them, the Founder of the Foundation and 1998 graduate of the University of Lagos, Dr. Unoma Okorafor, said the initiative was in response to her desire to see more African women inspired to participate in home and community building.

EDUPEACE

with Mahfouz A. Adedimeji (08066372516, sms only)  Dr Adedimeji is a Senior Lecturer and Director, Centre for Peace and Strategic Studies, Unilorin

ABCD: Connect, don’t just collect!

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BCD. That is the mantra that runs through the DNA of Sir Richard Branson’s companies.

As one of the most successful entrepreneurs of our time, apart from being an engaging writer and syndicated columnist, his philosophy is simple but important: Always Be Connecting the Dots.

This formula is not only applicable to industry; it is relevant to all spheres of life, especially education. You begin education by learning ABCD and you succeed in it by Always Connecting the Dots. Even when you complete schooling (you never complete education), you find out that succeeding in your career and life requires one thing: Always Be Connecting the Dots.

There is a world of difference between collecting the dots and connecting them. A person who has collected the dots will be parading degrees, diplomas and certificates while complaining of unemployment, joblessness and idleness.

A person who connects the dots, however, knows what to do with his education in such a way that he is not idle or helpless. He thinks out of the box and sees opportunities where other people see nothing. There are many opportunities around us but it takes the sixth sense to think of them and the third eye to see them.

This ability lies in connecting the dots.

Meanwhile, you cannot connect what you have not collected. You don’t build a house without first making or collecting the bricks.

Thus, collecting bits and dots of knowledge without connecting them is ultimately counter-productive. The bane of many youths today is that they only COLLECT dots, they don’t CONNECT them.

Connect, don’t just collect!

It is the inability to connect the collected bits of knowledge that made an Ekiti State University engineering graduate to attempt suicide this April. His reason: “There is no state that I have not gone to in search of job in the past 10 years, but none for me…. I came to Akwa Ibom State because this is my last hope… But unfortunately, since I came, I discovered that even many people from Akwa Ibom are also crying because of poverty and joblessness.” The question is: what kind of engineer would be “jobless” for 10 years?

As I wrote in anothér column recently, “it is connecting the dots that constitute the kernel of innovation.” And what is innovation?

According to one of the greatest inventors of all times, Thomas Edison, “innovation is one per cent inspiration and ninety nine per cent perspiration.” You cannot connect without perspiring; you cannot succeed without sweating.

This is why it is confounding that many young people now want to enjoy their way to success. Hard work used to matter as

It is connecting the dots that constitutes the kernel of innovation the foundation of success. Nowadays, however, many impressionistic youths believe that they only need to be “smart”. Dubiety, dishonesty, disloyalty, immorality and all damnable things are part of being smart or connecting the dots in a wrong way.

How do you connect the dots in the right way? The late technology wizard, Steve Jobs, provided the answer in this famous commencement speech: “You can’t connect the dots by looking forward; you can only connect them by looking backwards. So, you have to trust that the dots will connect in your future. You have to trust that the dots will somehow connect in your future. You have to trust in something – your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life.”

But many Nigerians are let down. Taking some students for example, rather than focus on learning or acquiring knowledge, they just want to have certificates.

Though the school or institution they attend is primarily meant for learning, they devote most of their time to socialising, online and offline, clubbing and burning their precious time away.

At the end of the day, the dots don’t connect as they are found to be unemployable and incompetent.

I do not begrudge those who want to become millionaires while in school but the linear approach, which the ABCD also represents, is that there is time for everything.

There is time to learn; there is time to earn. Only few people can combine the two effectively.

It is therefore desirable to make a good use of one’s time so that the dots will eventually connect. The dots would connect if you spent your yesterday well and you use your today judiciously.

You can trust the future will be good. In other words, if your today is education, acquire it well and trust that it will lead to a great future.

Lastly, Steve Jobs has more words of wisdom: “Your time is limited, don’t waste it living someone else’s life. Don’t be trapped by dogma – which is living with the results of other people’s thinking.

Don’t let the noise of other’s opinions drown out your inner voice.

And most important, you should have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.”

NEW TELEGRAPH TUESDAY, AUGUST 25, 2015

Energy

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More challenges for Nigeria as oil falls to $40

Property

Aviation

NSE probes collapsed SCOAN’s building

NCAA audit: Medication after death

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Business What's news

N26.62bn petrol vessels berth at Lagos jetties Nigerian ports and jetties in Lagos will take delivery of 206,162 metric tons of Petroleum Motor Spirit (PMS) valued at N26.62 billion ($133,116,742) before the end of this month, New Telegraph has learnt.

p.28

Experts pick holes in Cyber Act 2015 L-R: Director, Procurement, Industrial Training Fund, Mr. Dickson Onuoha; Director-General, Dr. Juliet Chukkas-Onaeko and Director, Administration and Human Resources, Mr. Hassan Umoru, during the 2015 Half-Year Performance Review Meeting of the Fund, in Jos, Plateau State.

Legal luminaries and other key stakeholders in the nation’s Information and Communication Technology (ICT) industry have criticised some provisions of the Nigerian Cybercrimes Act 2015, saying that the law contains fundamental flaws.

p.28

Nigeria’s annual marine crude export expenses hit N800bn

he worth of Nigeria’s investments on marine vessels for crude exports has hit N800 billion ($4 billion) in one year.

This came as the United States’ Energy Information Administration (EIA) revealed that Nigeria’s 10 per cent contribution of overall US oil imports in 2010 had fallen to zero

per cent in 2015.

Nigeria, Africa’s biggest crude exporter, had, according to statistics from the Nigerian Content Development and Monitoring Board (NCDMB), hitherto spent less than $4 billion yearly before 2014.

New Telegraph gathered at the weekend that the NCDMB has already began a process to reduce the cost, which it considered outrageous.

The process, which a source at the agency said at the weekend, began by the immediate past Executive Secretary of the bard, Ernest Nwapa, is being given speedy execution by the new Executive Secretary.

He said: “Nigeria spends $4 billion on marine vessels to export the country’s crude, and

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

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

NEGATIVE

The Business Desk Ayodele Aminu

Deputy Editor (Business)

Nigeria’s 10 per cent contribution to US oil imports in 2010 fell to zero per cent in 2015

Bayo Akomolafe

Asst. Editor (Maritime)

Sunday Ojeme

Asst. Editor (Insurance)

Tony Chukwunyem

Asst. Editor (Money Market)

Dayo Ayeyemi Property Editor

Adeola Yusuf Energy Editor

Wole Shadare Aviation Editor

Chris Ugwu

Capital Market Editor

Abdulwahab Isa

Adeola Yusuf

T

Finance Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

that the local content board is encouraging the foreign companies to partner some Nigerian companies to sell off some of their equities.”

Talks, he said, had begun at different levels of engagements, adding that an understanding had been reached with states such as Imo and Bayelsa.

“Bayelsa and Imo states had made land available for indigenous equipment manufacturers to promote the local content policy,” he said.

$10 Million Total worth of Shell’s jetty projects in Bayelsa State

According him, Shell has also agreed to build a jetty worth $10 million in Bayelsa and this process is being given speedy coordination by the new Executive Secretary.

Meanwhile, EIA has said that crude oil production in Nigeria increased to 2.520 million barrels per day in April from 2.420 million per day in March of 2015.

The petroleum industry in Nigeria is the largest on the African continent. As of 2014, Nigeria’s petroleum industry contributes about 14 per cent to its economy. Therefore, though the petroleum sector is important, it remains, in fact, a small part of the country’s overall diversiCONTINUED ON PAGE 28

Rates Dashboard EXCHANGE RATE (BDC as at Aug 21)

USD . . . . . . . . . . . . . . . . . . . . . . N208 Pounds . . . . . . . . . . . . . . . . . . . N328 Euro . . . . . . . . . . . . . . . . . . . . . . N225

l Foreign Reserves – $31.527bn as at 20/08/2015

Source: CBN

EXCHANGE RATE (Interbank as at Aug 21)

USD . . . . . . . . . . . . . . . . . . . . . N200 Pounds . . . . . . . . . . . . . . . N307.65 Euro . . . . . . . . . . . . . . . . . . N223.50

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Business |News

TRAFFIC Thirty-eight vessels are expected at the Lagos Port Complex this month

Bayo Akomolafe

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igerian ports and jetties in Lagos will take delivery of 206,162 metric tons of Petroleum Motor Spirit (PMS) valued at N26.62 billion ($133,116,742) before the end of this month, New Telegraph has learnt.

The product will be ferried to the port by eight merchant tankers at various jetties.

According to the Nigerian Ports Authority (NPA)’s shipping position, MT Hafnia Karava will discharge 30,800 metric tons at Single Bouy Mooring (SBM); MT Adventure, 30,000 metric tons at Atlas Cove Jetty (ACJ); MT Kyrnikos, 15,000 metric tons at NISPAN, while MT Champion will discharge 20,000 metric tons at Petroleum Wharf, Apapa.

MT Mare Caribeam will release 35,000 metric tons at Single Bouy Mooring (SBM); MT Sti Milwaukee, 35,000 metric tons at Single Bouy Mooring (SBM), MT Hafina Libra will discharge 36,000 metric tons at Single Bouy Mooring (SBM) jetty.

At the New Oil Jetty, MT Sea Sterling will discharge 5,000 metric tons of dual purpose kerosene valued at N574,130,000 ($2,870,650).

Also, from the 38 ships being expected this month, 14 would sail in with general cargo, while 13 others would arrive with containers.

Some of the ships are laden

TUESDAY, AUGUST 25, 2015 NEW TELEGRAPH

N26.62bn petrol vessels berth at Lagos jetties with general cargo, frozen fish, bulk malt, bulkwheat and bulk sugar.

In July, 19 vessels berthed at the various jetties with 129,915 metric tons of some petroleum products valued at N14.404 billion ($62,359,200).

Six of the ships were laden with 99,369 metric tons of Petroleum Motor Spirit (PMS) worth N11.02 ($47,697,120) .

fied economy.

As a result of the numerous small fields, an extensive and well-developed pipeline network has been engineered to transport the crude. Also, because of the lack of highly productive fields, money from the jointly operated (with the Federal Government) companies is constantly directed towards petroleum exploration and production.

Nigeria’s petroleum is classified mostly as “light” and “sweet”, as the oil is largely free of sulphur. Nigeria is the largest producer of sweet oil in OPEC. This sweet oil is similar in composition to petroleum extracted from the North Sea. This crude oil is known as “Bonny light.” Names of other Nigerian crudes, all of which are named according to export terminal, are Qua Ibo, Escravos blend, Brass River, Forcados, and Pennington Anfan.

As recently as 2010, Nigeria provided about 10

Also, two vessels, MT Puli and MT Eship Dugon discharged 9,650 metric tons and 5,200 metric tons of base oil respectively at the New Oil Jetty, while 9,402 buthane gas ferried by two vessels - MT Kilburn (6,003 metric tons ) and MT Winosor (3,489 metric tons) were offloaded at the Lister jetty.

In April, the jetties in Lagos took delivery of 282, 900 metric

tons of PMS, valued at N44, 559, 579,000 ($209,784,495) .

At the Single Bouy Mooring (SBM), MT Eagle berthed with 30,000 metric tons, MT Pretty Jewelry, 39,700 metric tons, MT Crystal Bay, 38,500 metric tons, while MT LIstra offloaded 37,700 metric tons. MT Sea Horizon discharged 35,000 metric tons, while MT Anja Kirk discharged 38,500 metric tons.

L-R: Lagos State Deputy Governor, Dr. Oluranti Adebule; Director-General, Lagos State Pension Commission (LASPEC), Mrs. Folasade Onanuga and representative of National Pensions Commission, Mrs. Grace Usoro, at LASPEC 18th retirement benefit bond certificate presentation to the state’s retirees in Lagos.

PHOTO:GODWIN IREKHE

Annual expenses on marine crude export is N800bn CONTINUED FROM PAGE 27

Vessels laden with petrol include MT two million way, 5,200 metric tons, MT Njord Thyra, 27,169 metric tons, while MT Sea Horizon will discharge 3,500 metric tons.

MT Mare Caribean is expected to offload 3,500 metric tons, MT Formosa Falcon, 30,000 metric tons, while MT Sti Wembly will discharge 30,000 metric tons.

per cent of overall US oil imports and ranked as the fifth-largest source for oil imports in the US. However, Nigeria ceased exports to the US in July 2014, because of the impact of shale production in America; India is now the largest consumer of Nigerian oil.

There are six petroleum exportation terminals in the country. Shell owns two, while Mobil, Chevron, Texaco, and Agip own one each.

Shell also owns the Forcados Terminal, which is capable of storing 13 million barrels (2,100,000 m3) of crude oil in conjunction with the nearby Bonny Terminal. Mobil operates primarily out of the Qua Iboe Terminal in Akwa Ibom State, while Chevron owns the Escravos Terminal located in Delta State and has a storage capacity of 3.6 million barrels (570,000 m3). Agip operates the Brass Terminal in Brass, a town 113 km southwest of Port Harcourt and has a storage capacity of 3,558,000 barrels (565,700 m3). Texaco operates the Pennington Terminal.

Experts pick holes in Cyber Act 2015 INEPTITUDE

The provisions of the law is deemed inadequate to allow the country face the emerging cyber warfare Kunle Azeez

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egal luminaries and other key stakeholders in the nation’s Information and Communication Technology (ICT) industry have criticised some provisions of the Nigerian Cybercrimes Act 2015, saying that the law contains fundamental flaws.

This was the position of experts, who spoke at the Technology Times Outlook organised by Technology Times, an online ICT-focused news website, to review the Nigerian Cybercrimes Act 2015 at the weekend.

The Act was one of the many bills passed into law by the National Assembly and signed by former President Goodluck Jonathan at the twi-

Say it has ‘fundamental flaws’ light of his administration.

Managing Partner, Technology Advisor, Mr. Basil Udotai, who reviewed the Act, said that Nigeria ranks third in the list of countries with high cybercrime rates globally.

He said that this requires that “we put in place robust laws that helps to checkmate the growing rate of cyber crimes in the country.”

Udotai noted that though the law is comprehensive enough, it is beset with some challenging components.

He said: “It was interesting that, at last, Nigeria has been able to put in place a law.

However, the Act does not recognise a single enforcement institution, which is an aberration and a development that may lead to confused legal strategy.

“Also, the law is too heavy on the financial sector, thereby making it overtly transactional.”

While noting that the road to having the law passed was long and tortuous, Udotai explained that “ICT is the only

sector that is doing well in Niger and we cannot afford to be lax in coming with law on cybercrimes.”

As such, he explained that there are already existing cyber laws in developed countries, which are of international standard that Nigeria can adapt to without necessarily making its cybercrime law cumbersome, all in the name of wanting to be original.

“We don’t need to be inventive; we just have to be creative,” he said, noting that he was not also sure that there were public hearings held to discuss the Cybercrimes Bill before its eventual passage into law.

The event convener and Founder, Technology Times, Mr Sina Badaru, said that there was an urgent need to ensure “our cybercrimes laws is robust enough to take care of the various sectors of the economy, which is currently being reshaped by ICT and in a way that it continues to build investors’ confidence in the nation’s economy.”

NEW TELEGRAPH TUESDAY, AUGUST 25, 2015

‘Deregulation without legislation dangerous for Nigeria’ p.30

29

Energy

Oil barrels

More challenges for Nigeria as oil falls to $40

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efore the epic crash of Brent crude price on Thursday August 20, the global price of crude oil from January 2015 to August 10, 2015, had indicated a steady decline. The prices for January was $48 per barrel, February $54, March $52, April $57, May $62, June $60, July $54, and August $48.

So, when countries like Nigeria were shocked by last Thursday’s $40 per barrel commodity price, pundits declared that tough days are ahead.

How it all began The United States (US), in October 2014, squeezed Nigeria’s oil out of its market. It did not stop at that; it also announced plans to flood the world crude market with 1.3 million barrels per day. The move, which signalled the beginning of the collapse of oil hegemony by Nigeria and others, has since been taking its toll on the country.

Statistics Nigeria’s crude exports to the United States had, before October 2014, fell from about one million barrels per day to zero barrel per day for the first time in the history of Nigeria’s crude transactions with the US. The US agency, Energy Information Administration (EIA), which revealed this, hinted that the US had hitherto imported over one million barrels of oil per day from Nigeria. Although the US had set

Brent crude, Nigeria’s premium oil, fell to $40 per barrel at the weekend amidst forecast that the oil grade may slide to $20 by 2016. Adeola Yusuf looks at the implications on the country’s budget a five-year plan built to end in 2018, to totally squeeze Nigeria’s oil from its market, the country appeared to have fast-tracked this major economic stance.

Nigeria, which depends on oil for about 80 per cent of its revenue and 70 per cent for her foreign exchange earnings, is threatened by the US demand for Nigeria’s crude oil that crashed to zero barrel per day in addition to the possible 1.3 million barrels per day exports from the US by 2019.

With over 85 per cent of Nigeria’s budget serviced from the crude oil revenue, other export options are Asian countries that may switch to the US export by 2019.

Asia’s demand and bearish September-loading Crude buyers at the global market grew apathy for Nigeria’s crude last weekend, leading to non-patronage for 20 cargoes of crude grades from the country.

The crude grades, according to the September loading schedule, are faced with tougher times, as Asia slashed over 300,000 barrels per day crude imports from the country and others.

Sinopec, Asia’s largest oil refiner, which accounts for some 244,000 barrels per day (bpd) of

It costs three times more to operate in Nigeria’s oil and gas sector than any other country in Africa

the total cut, is also planning to cut refinery runs by about one million tonnes per month.

While the October loading schedule is starting up, about 20 September-loading cargoes of Nigeria’s crude remain available, including Agbami, Brass River, Erha and Forcados.

“This is a relatively large amount at this point in the monthly trading cycle, as the October programmes are expected to start being issued imminently,” a trader said.

“Qua Iboe cargoes are being offered at around dated Brent plus $1.50,” another trader added.

While Nigerian differentials remained weak, the price of Angolan crude for October loading was expected to come under pressure from reduced Chinese demand and ample supplies.

Angola, on the other hand, is set to export around 1.83 million barrels per day (bpd) in October, up from 1.77 million in September, an updated provisional loading schedule showed last Tuesday.

“I see it as bearish because of weak demand from China,” said a West African crude trader.

Other Chinese refiners are likely to have lower demand for October-loading crude due to high

stocks of refined products,” the trader said.

There are 59 cargoes for export in October, up from 55 scheduled in September, the loading schedule showed.

Statoil offered Dalia loading in September at dated minus $2.80 and a few October cargoes including Girassol at dated plus 40 cents, a trader said. BP and Exxon were also offering cargoes.

State oil company, Sonangol, was not showing offers to the market yet, a trading source said.

Indian refiner, BPCL, is expected to issue a buying tender.

The United States prices, however, settled higher at the weekend in volatile trading after slumping to a fresh 6-1/2-year low, as a supply glut and concerns about China’s economy pressured Brent crude.

A weaker dollar and the formation of the first hurricane of the 2015 Atlantic season were supportive to crude, even with Hurricane Danny still far from affecting any land or oil infrastructure.

US futures retested support near $40 a barrel early in the session, falling to their lowest level since 2009, and Brent fell to a fresh October contract low above $46 a barrel, as a global supply glut and concerns about sputtering growth in China continued to weigh on oil prices.

Falling oil prices and effects on CONTINUED ON PAGE 30

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Business | Energy

DEBT Government yet to pay marketers’ subsidy N200 billion debts

Adeola Yusuf

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overnment risks breeding a dangerous cartel if deregulation of downstream sector is done without adequate legislation, marketers of petroleum products in Nigeria have said.

They also revealed that government was yet to pay the subsidy debts amounting to over N200 billion.

The marketers, who spoke on the sideline of a conference in Lagos, said that the delay in subsidy payment has continued to raise question about sustainability of the subsidy scheme.

Managing Director of Mobil Oil Nigeria limited, Mr. Tunji Oyebanji and his counterpart at NIPCO Plc, Mr. Venkataraman Venkatapathy, tasked the Federal Government to fully deregulate the downstream sector with caution.

“If you are talking about cabal or cartel now, what we will have will be worse if deregulation is announced without appropriate legislation,” Oyebanji said.

He said that the lack of legislation for the scheme would breed dangerous cabal in the sector.

The Mobil chief said: “We are yet to be paid our subsidy and this has continued to raise the question about sustainability of subsidy scheme. I was just told this morning that Brent is $40 a barrel. As it is going, very soon, deregulation will not be a debate, it will soon be a necessity!

“We are looking for an industry where pricing is liberalised.

We are looking at an industry where technology plays its role.

And one cardinal point I have to make is that if we chose to go the way of deregulation in

TUESDAY, AUGUST 25, 2015 NEW TELEGRAPH

‘Deregulation without legislation dangerous for Nigeria’ Nigeria, there must be appropriate legislation. If you are talking about cabal or cartel now, what we will have will be worse if deregulation is announced without appropriate legislation.”

Corroborating Oyebanji’s view, NIPCO’s MD, Mr. Venkatapathy renewed his company’s commitment to ensure hitchfree distribution of petroleum products across the country.

NIPCO, he said, had asked for deregulation, which would not increase hardship for Nigerians. He added that the

company would continue to provide veritable avenue for more exemplary service delivery to Nigerians.

He tasked government to deregulate with promotion of the usage of Liquefied Natural Gas (LPG) among Nigerians.

Venkatapathy, who received an award conferred on his company by the National Association of Energy Correspondents (NAEC), promised that his firm would be motivated by the award to do more.

“This is in the series of rec-

ognition and awards given to us by many groups in Nigeria over our exemplary services,” he said, adding: “What this will do to us is to motivate us to do more.”

Fuel subsidy has been creating a hole in the covers of government.

Between 2013 and 2014, a total of N1.29 trillion was recorded as petrol subsidy claims from oil marketers.

Figures from the Petroleum Products Pricing Regulatory Agency (PPPRA) show that about N832.06 billion was

paid as subsidy claim by the Federal Government to oil marketers in 2013 alone.

For July and December 2014, government paid N45 billion and N166 billion respectively.

Aside these payments, oil marketers, under the aegis of Major Oil Marketers Association of Nigeria and Depot and Petroleum Products Marketers Association, also alleged that the Federal Government owed them another N250 billion in unpaid subsidies for 2014.

L-R: Chief Operatoing Officer, Oando Marketing, Mr Yomi Awobokun; Chairman of the occasion, Mr Deji Haastrup; Managing Director, Mobil Oil Nigeria Plc., Mr Tunji Oyebanji and Managing Director, Nipco Plc, Mr Venkataranan Venkatapathy, at the 2015 National Association of Energy Correspondents (NAEC) conference in Lagos. PHOTO: GODWIN IREKHE

Trouble for Nigeria as oil falls to $40 CONTINUED FROM PAGE 29

shareholders The crash in the global price of crude oil has impacted negatively on the performance of the oil and gas sector in the capital market for the first half of the year 2015.

As a result, the value (market capitalisation) of oil companies’ shares dropped by N273.44 billion or 25.83 per cent from the corresponding period of 2014, implying what shareholders in these companies lost.

A review of the performance of the oil and gas sector on the Nigerian Stock Exchange (NSE) shows that the sector recorded N786.56 billion in the six month period ended June 2015, as against N1.06 trillion in the first

half of 2014.

Market capitalisation is the total value of companies quoted on the NSE and it is determined by the performance of their share prices and issued share capital.

A cursory review of the oil and gas sector on the NSE shows that in the period under review, the NSE oil and gas index, another stock market gauge, dropped by 21.2 per cent to close at 368.54 points from 468.24 points in the corresponding period of 2014.

The drop in the NSE oil and gas index is a reflection of the fall in the prices of petroleum equities. The equities are Beco Petroleum Product, Conoil, Eterna, Forte Oil, Mobil Oil Nigeria, MRS Oil Nigeria, Total Nigeria, Oando and Seplat Petroleum Development

Company.

Further review also showed that the oil and gas sector accounted for 7.12 per cent of the equity market capitalisation for the first half of 2015, as against 7.56 per cent in the corresponding period of 2014.

Oil companies listed on the NSE are facing challenges of low global price of crude oil, which has made investors to either sell off their stocks or adopt a wait and see attitude. The down turn is affecting oil companies and producing countries across the globe.

Trouble from home While this is on-going, there is a dwindling foreign investment in the nation’s oil and gas sector and, according to conclusions reached at an oil and gas forum in Aberdeen

last year, inadequate infrastructure and inconsistency in government policies are some of the factors which have specifically kept new players from Nigeria’s oil and gas business environment.

At the last Society of Petroleum Engineers (SPE) Offshore Europe forum, investors posited that despite the huge potential in the country’s oil and gas sector, many foreign companies would rather explore the Angola and Ghana oil and gas sector.

They explained further that it costs three times more to operate in Nigeria’s oil and gas sector than any other country in Africa.

The Director for Strategy and Growth, Europe, Amec, a United Kingdom oil and gas company, which currently handles

projects for Exxon Mobil, Shell and others, Sandy Clark, said that insecurity remained a major challenge in operating in a country like Nigeria.

“Nigeria is a huge market for oil and gas business and we have been handling projects for some international oil and gas companies. But our major challenge right now is getting personnel to work in our offshore operations due to the insecurity challenges. Many of our personnel are not ready to work in the rural areas for fear of being kidnapped,” he said.

The Business Development Director of Jee, a sub-sea engineering and training expert, Nigel Ross, corroborated his view.

He said: “We have presence in Ghana and Angola. We are not considering

coming to Nigeria due to insecurity. This is because Nigeria’s security and infrastructural deficiency is too much for our company to handle. We will definitely explore the Nigerian business environment when the security issues are resolved.”

Conclusion Government should diversify the economy by looking beyond oil revenue. While the diversification of economy may take a while, the Petroleum Industry Bill (PIB), which is the soft-landing for Nigeria oil industry should be taken serious by legislators. The eight National Assembly should give the passage of the Bill the desired priority. There is also a need for judicious use of country’s earnings from oil by the executive.

NEW TELEGRAPH TUESDAY, AUGUST 25, 2015

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Property&Environment NSE probes collapsed SCOAN’s building POOR INFRASTRUCTURE Expert blames leaders Kayode Olanrewaju

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he Nigerian Society of Engineers (NSE) has instituted investigation into the collapsed Synagogue Church of All Nation’s building.

President of NSE, Mr. Ademola Olorunfemi, made this known in a chat with New Telegraph in Lagos.

About 84 people including South Africans were killed in the disaster.

A Coroner’s report had accused the engineers who handled the construction project of wrongdoing.

The NSE boss said the two engineers for the project who are registered members of the Council for Regulation of Engineering in Nigeria (COREN) and NSE are going to face the regulations and the tribunal within the ambit of the law and COREN Act. Olorunfemi said that the poor quality and infrastructure failure in the country should be blamed on the greed and corruption by political leaders.

Speaking on the spate of col-

lapsed structures, he insisted that rather than blaming the engineers, the issue with infrastructure and state failure is all about poor leadership.

“We have had leaders over the years that are corrupt and insensitive to the needs and development of the country and its people,” he noted. He said

that contracts are awarded to foreign engineers, not because the Nigerian engineers are incompetent, but because of what they will gain from the system.

Worried by the development, he said: “Nobody will come and develop this country for us. All those foreigners

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state Surveyors and Valuers Registration Board of Nigeria (ESVARBON) has warned the 202 newly inducted estate surveyors and valuers against sharp practices and nefarious activities capable of damaging the image of the profession.

This advice, according to the Chairman of ESVARBON, Mr. Williams Odudu and former Executive Director, Estate Services, Federal Housing Authority (FHA), Mr. Eteng Ibiang Eteng, became imperative

in order to win the board’s war against quacks in the industry.

Odudu warned the new members against the reckless use of the institution’s stamps, seals and certificates, saying that the body reserves the right to withdraw them at any time.

He also advised them to guard carefully the ethics and ethos of the profession, adding that integrity and fear of God should be their hallmark if they intend to succeed professionally.

He hinted that the board had put requisite machinery in place, in collaboration with

the relevant law enforcement agencies, to reduce the nefarious activities of quacks and to check the spread of pseudo practices by bringing to book culprit found guilty of the offense.

With the addition of 202 new entrants, the ESVARBON boss said that the total number of registered estate surveyors and valuers in the country had risen to 3,723.

He added that 604 persons have been registered since he became chairman of the board in less than two years ago.

Ogun seeks domestication of fire law Dayo Ayeyemi

O

gun State Director of Fire Services, Mr. Akanbi Obiwunmi, has advocated for states government to domesticate the recently approved National Fire Code Laws by the Federal Government in order to put an end to flagrant abuse of fire safety laws.

He disclosed that the Ogun State Fire Service had recorded six deaths in fire fighting operations in the last eight months while it had attend-

leaders. Nobody will come and develop this country for us.”

While explaining that Nigerian professionals, should as a matter of priority, be considered first when awarding contracts, the president, however, noted that the country could only grow when it stopped depending on other nations.

Model for Makoko waterfront community, Lagos.

Surveyors warn newly inducted members Dayo Ayeyemi

that our political leaders are awarding the contracts will only do their jobs and wire their gains to their respective countries and, unfortunate, this is why the country is where it is today.

“I am bold to say that it is all about being unpatriotic, selfish and self-centredness of our

ed to 576 fire calls involving residential buildings, petrol stations and other infrastructure within the period.

Obiwunmi, however, noted that none of the deaths recorded was an official of the service.

The director, who was quoted in a statement by spokesman of the Ministry of Works and Infrastructure, Mr. Ayokunle Ewuoso, said that the call for states government to domesticate the Fire Code became imperative because

the existing fire laws in some states have made fire service authorities “toothless bulldogs.” This he said had disallowed the authorities from sanctioning unscrupulous owners of petrol stations and companies who were in the habit of flagrantly disobeying the fire code in different states.

He said: “Fire service is not the only approving authority as regards allowing people to establish petrol stations or companies.”

Why there is poor devt plan, by town planners Dayo Ayeyemi

T

he Association of Town Planning Consultants of Nigeria (ATOPCON) has blamed the low level of investment in Nigeria on the absence of sound physical development plan to guide investors.

Its President, Mr. Moses Ogunleye, pointed out that the rate of socio-economic advancement of the country have been held down as a result of the neglect of physical planning by policy makers.

Ogunleye told New Telegraph during the Annual General Meeting (AGM) of the association in Lagos, that Nigeria had failed to appreciate the symbiotic relationship that exists between economic planning and physical planning.

He said: “It has been shown at the global level that countries, which hinged their development strategies on sound physical planning principles tend to have faster economic growth than those that did otherwise.”

Worried by apathy towards development plan, he urged government to review its ef-

forts and concerns for physical planning.

“Now is the time for governments in Nigeria to review their efforts and concerns for physical planning,” he said.

Ogunleye pointed out that the high incidences of crime, homelessness, chaotic situation and abuse of natural resources like surface water, wetland and forest in major towns and cities are traceable to poor or weak physical planning.

He, however, canvassed effective funding of physical planning matters by all tiers of government. Besides, he wants physical planning to be strengthened at the local government level, with some functions devolved to local council areas.

According to him, as the tier of government nearest to the grassroots, the councils ought to be able to carry out so much in physical planning. He added that “various aspects of the 1992 Urban and Regional Planning Law that had to do with local government area, should be implemented by all concerned.

“There may be various modifications across the states due to certain peculiarities,” he added.

TUESDAY, AUGUST 25, 2015 NEW TELEGRAPH

32

Aviation NCAA audit: Medication after death

it should be a constant exercise of the NCAA. Former Managing Director of IRS Airlines, Yemi Dada, told New Telegraph that the announcement of the audit in itself was self-indicting, hinting that the NCAA should not now be telling the world of an audit if actually it had been carrying out its oversight functions effectively.

The decision of the Nigerian Civil Aviation Authority (NCAA) to audit all the carriers is heartwarming, but must the aviation regulatory body wait for accidents to jolt it to do what should ordinarily be the norm? WOLE SHADARE asks

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here is no doubt that Nigerian airlines are in serious dire straits. Most of the carriers are insolvent and at the brink of collapse.

Their lack of strong financial muscle makes them to be at risk and expose the sector and life of the travelling public to danger.

Some of them are finding it very difficult to meet their financial obligations with backlog of unpaid staff salaries. Paucity of funds may also force these airlines to negate given standards in commercial flight operations, which may lead to air accidents.

Even the Accident Investigation Bureau (AIB) had, in some of its accident reports, attributed certain crashes to lack of good maintenance of aircraft, just as the reports attributed crashes to pilots/crew errors, which forms about 65 per cent of accidents.

Functions of NCAA NCAA is the regulatory body for aviation in the country. The Civil Aviation Act 2006 empowers NCAA to regulate aviation safety without political interference and to carry out oversight functions of airports, airspace and meteorological services, as well as ensure economic regulation of the aviation industry.

The primary duties of the agency are to ensure that flight operations are safe. This is by making sure that airline operators carry out routine aircraft maintenance, training of pilots and crew. The second most important duty of the NCAA is to ensure economic regulation of the aviation industry.

In executing this duty, NCAA ensures that an airline that has been given certification to carry out scheduled commercial service has the funds to carry out maintenance of its aircraft, buy and pay for fuel, pay staff salaries and also pay its suppliers and service providers, such as caterers and ground handling companies.

Over the years, NCAA has striven to effectively carry out safety regulation, but has failed in its economic regulation effectively. It took the intervention of

Buhari

Usman

the media and the crash of Dana airline’s aircraft in 2013 for the aviation regulator to announce to the world that it would conduct economic audit on the airlines.

A few days before the defunct Air Nigeria was grounded, a technical officer of the airline had written to NCAA, detailing the airline’s huge indebtedness.

This prompted the regulatory authority to ground the carriers’ operations.

Although the management of the airline viewed such action as betrayal, but technical officials and the NCAA saw it as a patriotic effort to save lives, because such low standard of operation could lead to air disaster.

Motion without action At his maiden address to industry stakeholders, a former Director-General of NCAA, Captain Fola Akinkuotu, enjoined his colleagues (aeronautical engineers and pilots) working with airlines to help provide information about safety and financial breaches in the course of their operation. He made this request because the NCAA does not have the ability to monitor airlines’ financial transactions unless insiders hinted it of possible infractions.

Over the years, many airlines would start up, operate for some years and go under. In their twilight days, they would not be able to offset their huge debts, including workers’ salaries, until they become bankrupt.

Apart from grounding operations of some carriers, NCAA rarely intervene when airlines fail to carry out their financial obligations. What usually happens was that NCAA would withdraw the Air Operator Certificate (AOC) granted any airline that was unable to take its aircraft for compulsory maintenance checks or the one that was not released by the maintenance organisation,

due to its inability to pay its bills.

Over the years, NCAA has striven to effectively carry out safety regulation, but has failed in its economic regulation effectively

Another panic measure Just last week, typical of the NCAA, its Director-General, Capt. Muhtar Usman, directed an immediate commencement of a comprehensive audit of all the airlines operating in the country.

He said that this exercise is in line with the authority’s regulatory and oversight responsibilities, adding that NCAA’s Aviation Safety Inspectors (ASI) would continue to intensify the routine ramp inspections with ‘eagle eye’ attention to fine details.

He said that the directive was to forestall complacency among airline operators and ensure that they all continue to demonstrate absolute compliance to NCAA’s regulations.

The NCAA boss explained that the pocket of incidents that had occurred recently are being viewed seriously by the organisation, stressing that the wholesale audit is one of the measures taken to forestall further incidents and ensure the sustenance of the confidence of air travellers.

In addition, Usman sent out a stern warning to all pilots to take precautionary measures during all adverse weather conditions.

In other words, there should be strict adherence to states’ weather minima and Standard Operating Procedures (SOP).

The director-general, however, assured Nigerians that the regulatory authority would continue to ensure its zero tolerance for non-compliance to regulations to be strictly upheld.

He added that airline operations in Nigeria would continue to be done according to the Standard and Recommended Practices (SARPs), thereby ensuring safe and secure operations.

Experts have, however, carpeted the regulatory body for public announcement for an audit when

Economic regulation Part of NCAA’s responsibility as a regulatory authority is to monitor the finances of airlines and to ensure they pay workers’ salaries, aviation fuel and other compulsory expenses.

This is because if they fail to fund their operations, they may also compromise the required safety standards, which include the routine maintenance, fixing the right aircraft parts, funding the simulator training of their pilots and the compulsory scheduled training of the cabin crew.

In the past, NCAA was alleged to be granting extensions to airlines for aircraft maintenance.

What that means is that, if an aircraft were due for C-check in September, for example, NCAA would extend it to October, thereby compromising safety standards.

Investigation of many accidents which occurred in the past revealed that, besides human error, poor state of most aircraft contributed to some of those air disasters. It is for this reason that the regulatory authority must be firm and monitor the economic status of airlines so as not to compromise safety standards.

New Telegraph learnt that some of the new airlines owe their staff six to eight months’ salaries. Some industry observers are blaming NCAA for the current situation by not carrying out an audit of such airline’s financial status before granting them AOC. They argued that the airline sector is not like other sector because in the industry, the state of mind of workers can lead to mistakes that could cost lives.

Worrying signs Experts said that the same signs that led to air accidents in the last two years have started showing up again. According to them, one of such signs is the seeming indifference of NCAA when airlines are unable to maintain their aircraft and not pay workers’ salaries.

Conclusion To many, this recent wakeup call would be a mere windowdressing if NCAA does not apply more stringent measures to ensure that defaulters comply with safety standards. In addition, the regulatory agency should monitor airlines’ businesses to ensure that they are being carried out in line with laid down regulations.

Business | Aviation

NEW TELEGRAPH TUESDAY, AUGUST 25, 2015

NAHCO’s profit drops to N377m

OUTLOOK The firm says it would continue its investment in the FTZ initiative Stories by Wole Shadare

T

he Nigerian Aviation Handling Company Plc (nahco aviance) has recorded a profit after tax of N377 million for the half-year ended June 30, 2015, indicating a fall of 1.06 per cent or N4 million against the N381 million of 2014.

Also, profit before tax dropped by 3.7 per cent or N19 million from N522 million to N503 million.

Total assets, however, grew from N4.8 billion to N5.1 billion, according to a statement from the company, signed by its Head, Corporate Services, Mr. Bashir Ahmed Gulma, who spoke for the Managing Director, Norbert Bielderman.

Revenue leapt by 8.9 per cent or N400 million, from N3.8

billion to N4.2 billion.

According to the statement, the company drove down cost of sales by 8.9 per cent to N2.5 billion, from N2.7 billion, while distribution/administrative expenses fell by 14 per cent from N1.25 billion to N1.09 billion.

Noting that the results are very encouraging, the NAHCO CEO said that the results came against the backdrop of the devaluation of the Ni-

gerian currency, which saw the naira exchanged for over N130 to the dollar at some point during the year under review.

The results were also achieved at a period when the new administration was just coming into office and investors were being cautious in making serious investment decisions.

According to the NACHO boss, the devaluation not-

L-R: Deputy Managing Director, Arik Air, Capt. Ado Sanusi; Ambassador of Ireland to Nigeria, Mr. Sean Hoy and Chairman, Arik Air, Sir Joseph Arumemi-Ikhide, during Hoy’s visit to Arik Air in Lagos.

Bi-Courtney partners Greater Washington on training B

i-Courtney Aviation Services Limited (BASL), operator of the Murtala Muhammed Airport Two (MMA2), Lagos, has held a workshop for cargo agents operating in the terminal’s domestic cargo shed.

The workshop, according to a statement from BASL, was organised in collaboration with Greater Washington Limited (GWL), the concessionaire in charge of its cargo operations.

The workshop, which is an annual exercise, focused particularly on the modalities for identifying, classifying and handling dangerous and prohibited items. The objective, according to BASL, is to ensure that activities in the facility are constantly at par with global best practices, especially in the area of safety and security.

Aviation and Cargo safety experts from Nigerian Civil Aviation

33

Agency (NCAA), led by Cargo Safety Inspector, Mr. Augustine Eboigbe, facilitated the workshop.

Other instructors include Aviation Safety Inspector, Ground Operations, Mrs. Stella Patrick-Okpara and Aviation Safety Inspector, Mr. Yusuf Chanchangi.

Commenting on the exercise, Head, Cargo Section, BASL, Mr. Ayodeji Akinremi, said it was a deliberate effort to create continuous awareness among agents and other actors in the cargo section on how they can effectively identify, handle and classify dangerous goods.

He further explained that the exercise did not take anything away from the measures already in place at the cargo shed to ensure strict compliance with the established security and safety standards.

Akinremi noted: “No doubt, we have put various checks and security measures in place. These include the presence of

men of the State Security Services (SSS), the Nigeria Police Bomb Squad, Aviation Security (AVESC) personnel of the Federal Airports Authority of Nigeria, Airlines’ security officials, Nigerian Customs Service, the military and the Nigeria Drug Law and Enforcement Agency (NDLEA), among others. In addition, we also have a dedicated cargo screening machine that is able to identify and analyse the content of every cargo.”

He emphasised the company’s policy of zero tolerance for touting in every part of the terminal.

Akinremi said that there are strict rules guiding the company’soperations at the cargo section. “There is nothing like touting, because all the operators are known to us and are duly registered. As such, it is absolutely impossible for any unruly behaviour or sharp practices to take place,” he added.

withstanding, the company had to source for equipment and spare parts in foreign currency. “This increased the cost of doing business during the period under review.

“But with the observed stability of the naira, which we are positive will continue, and the powerful showing of the company towards the end of the H1, signifying the onset of our peak period; we have no doubt that we will exceed our projected revenue target for the year 2015,” Gulma stated.

The published results came in at a time when the global aviation body, International Civil Aviation Organisation, (ICAO) recently scored nahco aviance 100 per cent in its recent audit of the Nigeria aviation sector, making the firm one of the very few companies in the sector to achieve this feat.

Speaking last June at the annual general meeting (AGM) of the company in Abuja, board Chairman, Mallam Suleiman Yahyah, had said that the on-going investment in the Company’s Free Trade Zone, FTZ, was on course.

Yahyah disclosed that the company would continue its investment in the FTZ initiative, having completed all the legal and operational procedures for a successful take off.

The chairman explained that FTZ would be one of the three key subsidiaries of the NAHCO group, which are all expected to boost their earnings and ensure sustainability in the coming years.

Emirates slashes 25% fares on Nigerian route

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mirates, a global connector of people and places, has announced the launch of a sale campaign offering up to 25 per cent off to select destinations in its Economy Class cabins for the Nigerian market.

The special fares, according to a statement, apply to all Emirates’ destinations from Lagos, including Mumbai (BOM), Guangzhou (CAN), Delhi (DEL), Dallas-Fort-Worth (DFW), Dubai (DXB), Houston (IAH), New York (JFK), London (LHR), Chennai (MAA) and Chicago (ORD), Bangalore (BLR), Mumbai (BOM) and Guangzhou (CAN).

The offer is, however, valid for booking between August 18 and 24 for travel from September 1 up to December 10, 2015, (conditions apply).

The airline said that Economy Class fares from Lagos to Delhi via Dubai, start from $992; Mumbai $1,020; Guangzhou $1,043; London $1,025; Chicago $1,243; New York $1,241; Chennai $1,010; Houston $1,344; Dallas-Fort-Worth $1,343 and Dubai $852.

Economy Class fares from

Abuja to Delhi, via Dubai, start from $992; Guangzhou $1,043; Washington $1,243; Beijing $1,264; Kuala Lumpur $1,136 and Bangalore $1,018.

Speaking on the tactical fares, the Regional Manager, Emirates West Africa, Mr. Manoj Nair, stated that the special fares and the opportunity to stopover in Dubai for shopping and leisure are particular attractions for passengers, with the 96-hour visa in Dubai making the journey even smoother.

“Passengers can experience award-winning services from Emirates’ international cabin crew from over 130 countries, gourmet cuisine and the airline’s renowned ice inflight entertainment system, which offers passengers hundreds of audio and visual channels on demand,” he added.

Customers travelling with Emirates benefit from a generous baggage allowance of 30kg in Economy Class, 40kg in Business Class and 50kg in First Class. Passengers on Emirates flights can also stay in touch with SMS, email and phone connections in every seat.

34

Photo | News

L-R: Executive Director, Wholesale Finance, Bank of Agriculture (BoA), Mr. Babatunde Igun; Benue State Governor, Samuel Ortom and Managing Director, BoA, Prof. Danbala Danju, at a meeting with Executives of BoA in Abuja.

L-R: Lagos State Deputy Governor, Dr. Oluranti Adebule; Director-General, Lagos State Pension Commission (LASPEC), Mrs. Folasade Onanuga and Representative of National Pensions Commission, Mrs. Grace Usoro, at LASPEC’s 18th retirement benefit bond certificate presentation to the state’s retirees in Lagos.

PHOTO: GODWIN IREKHE

L-R: Deputy Director, Lagos State Health Education, Mrs. Omowunmi George; Marketing Director, Mortein, RB West Africa, Mr. Oguzhan Silivrili; Reproductive Health Programe Officer, Lagos State Primary Health Care Board, Dr. Veronica Vaughan-Iwayemi and Senior Programe Officer, Global Find Malaria, Dr. Diwe Ekweremadu, after a Mortein Own Community press conference, in Lagos…on Wednesday.

President, Ijaw Youths Council, (IYC), Mr. Udengs Eradiri (left), with the council’s spokesman, Mr. Eric Omare, during a news conference in support of the ongoing restructuring of the oil and gas sector, in Yenagoa…recently.

PHOTO: NAN

TUESDAY, AUGUST 25, 2015 NEW TELEGRAPH

L-R: Executive Secretary, Bureau of Investments Promotion and Public Private Partnership, Oyo State, Mr. Yinka Fatoki; Governor Abiola Ajimobi;Managing Director, AFGRI South African Company, Mr.Tommie Snyman; Finance Director, Mr. Willie Fryer and Operation Manager, Mr. Peter Griessel, during a courtesy visit to the governor in Ibadan…on Thursday.

L-R: Vice-President, Association of Investment Advisers & Portfolio Managers (AIAPM), Mrs. Oluwatoyin Sanni; President, Dr. Olufemi Oyetunji; Permanent Secretary, Cabinet Office, Mrs. Folashade Ogunnaike; Chairman, Lead Capital Group, Mr. Abimbola Olashore and Permanent Secretary, Ministry of Finance, Mrs. Oluwatoyin Adebuji-Onikoyi, at the induction of the association’s new members in Lagos.

L-R: Vice-Chancellor, Modibo Adamawa University of Technology, Prof. Kyari Mohammed; Executive Secretary, Tertiary Education Trust Fund (Tetfund), Prof. Suleiman Bogoro and Executive Secretary, National University Commission (NUC), Prof. Julius Okojie, during the commissioning of a Tetfund project in Yola, Adamawa State…recently.

L-R: Baale of Abule-Owu village, Ewekoro, Ogun State, Chief Wasiu Adeleke Koleoso; founder, Sanusi Empowerment and Leadership Foundation (SELF), Mr. Idowu Sanusi; his wife, Fausiyah; a beneficiary, Mrs. Rukayat Bankole and APC Chairman, Elere/Onigbedu Ward, Mr. Adeniji Adewale, during an empowerment programme by SELF at Elere-Adubi village.

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NEW TELEGRAPH TUESDAY, AUGUST 25, 2015

Features

Catering, a new passion for men Men, especially graduates, now flock roadsides in Lagos to make a living from making and selling local pastries. And they are not regretting their decision, reports LILIAN OKAFOR

Some men frying beside the rail line in Lagos

H

e sat on a blue plastic chair, fanning himself with a folded newspaper. It was about 2pm, the sun was at its peak.

Mr Desmond, as he prefers to be called, was under an umbrella, hoisted on an adjustable poll welded to a disused wheel, to

ABIODUN BELLO FEATURES Editor

abiodun. bello@newtelegraphonline.com

© Daily Telegraph Publishing Company Limited

screen himself from the scorching sun. The place is the notorious Oshodi area of the Lagos metropolis.

Oshodi’s notoriety stems from its high-tech crime and high volume of trade.

Desmond, who is in his late twenties, wore a T-shirt on a pair of jeans. Occasionally he would read the newspaper, but on other times he would issue instructions to the four boys working with him.

He is a businessman. But, his line of business is generally regarded as a woman’s vocation, especially the uneducated.

But Desmond, a graduate of Banking and Finance from the University of Lagos (UNILAG) Akoka, Yaba, Lagos, makes a living from selling Akara (beans cake).

Desmond would not have gone into selling Akara but he had no one to lean on.

He said: “It was condition that made me to go into this business at the initial stage. But now, passion has made me to continue. I must

confess that I’m making it.

“I started this business when I got admission into the University of Lagos in 2001. There was no one to help me with my education. My parents didn’t really have much. I sought financial assistance from my friends and family members and they assisted me. After getting the money, I decided to set up this business. I fried beans cake, known as akara, puff-puff (a fluffy pastry made of flour), doughnuts and all others as undergraduate.’’

Desmond said he sponsored himself through the university with the business. He explained that everything he owns; his house, clothes and others came from the business.

He said he preferred using male workers to female because the men understand one another.

“There is virtue in doing the right thing, especially the right kind of business. Although it might be stressful, the burden is less for me since I have my boys doing the work. All I do is to super-

PHOTO: SULEIMAN HUSAINI

vise them and ensure that customers are well treated. I can’t imagine seeing myself making money through yahoo yahoo! It is not part of me. I believe when I sweat, the right money will come. It is already happening,” he added.

Desmond further gave a word of advice to the youth who shy away from doing some categories of business because they are educated.

He said: “They should stand for what they believe and do it better. Yahoo yahoo and other illegal jobs don’t pay. The end is always destruction. I believe that every guy wants to make quick money.

But doing the right business pays a lot.

“I know that one day, with my hard work and integrity, God will open many doors for me. Doing a woman’s job is nothing to me because that is what I love doing. I believe that with time, I will open I bigger place and make a name C O N T I N U E D on PA G E 3 6

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FEATURES

TUESDAY, AUGUST 25, 2015, NEW TELEGRAPH

Making money from women’s vocation C O N T I N U E D F R O M PA G E 3 5

for myself.’’

Desmond is not alone. Several other men are either going into the business or have established themselves in that vocation.

This is probably informed by the economic situation in the country which has increased unemployment rate.

Now, many people, both educated and uneducated, have taken to unlikely occupations.

The desperation to survive at all costs made a good number of these graduates to jettison pride and take up occupations regarded as being bellow their status.

For years, only women, especially the uneducated, had been known to identify with the business of frying buns, yam, bean cakes among other on road setbacks, besides rail lines, bus stops/parks etc.

Today, the business has become quite competitive with graduates, especially men openly jostling to have a piece of the action.

Some of the men who revealed reasons they took up the vocation, said they believed that frying by the roadside was the only way they could make money for themselves.

“We can’t allow society’s perception to influence our decisions,” one of them said.

They said that although they knew that many people might want to sneer and jeer at them, but they just did not give a hoot.

According to them, they don’t see any job as meant “for women only”.

“We are equal to the task.

We have the gift and passion.

We can do it better than the women,” another added.

One of the men, who gave his name simply as Mr Taiwo, who fries ‘puff-puff ’ and beans cake at Ojodu Berger area of Lagos, said he had been in the business for a long time.

According to him, he started the business at his home town in Ijebu-Ode, Ogun State.

Taiwo, who refused to state his age or how much he makes from the business, said with a nostalgic smile: “It all started with me assisting my mother to sell beans cake after she had finished frying it. I later took over the frying from her.

“I was later able to establish my own business at Ketu after I moved to Lagos in 2007. I had a vision in 2007 to establish more branches. But the money I had was not enough.

I waited for some time to raise enough money before I opened another branch.’’

Taiwo said that after he made enough money from the one he operated at Ketu, he ensured that he had enough boys and stationed them there, before starting another branch.

Since then, Taiwo has continued to wax stronger. According to him, he has opened several other branches and has many people working for

The making of akara

Balls of akara ready to be eaten

Neyo

him.

“I recruited enough boys, not girls, because I can’t stand their drama; with my fellow boys, I feel safe. It makes the work easier and less stressful. I have branches in Apapa, Ikeja, Oshodi, Ikorodu, Iyana-Ipaja, Agege and other places. I don’t want to mention others. However, I manage this one at Berger, while my boys see to others,” he recounted.

According to him, each sale he makes in a day is a blessing to him because the business alone has opened doors of opportunities for him.

He said: “God has given me something not even the devil can take away.”

Laike Desmond, Taiwo also counselled the youth on what to do outside crime to make it in life.

According to him, youths do not need to wait endlessly at home looking for the nonexisting employment.

He said: “I believe that other young men out there can do the same rather than engaging themselves in illegal business. I can’t tell you how much I make per day, but I make enough money from this business.

“Although I’m not a graduate, that did not stop me from doing what I love doing. I’m not ashamed of it.”

We can’t allow society’s perception to influence our decisions

Mr Kenny is another of the determined young Nigerians who are ready to go the extra mile to succeed.

Kenny said that he enjoyed frying, especially since it was part of what he studied in school.

According to him, he studied Food and Nutrition.

He added: “I have been doing this business for years. This happens to be what I studied in school. I’m a father. I pay my children’s school fees from the money I realise doing this business. The business is my life. I love it. The business is not bad. The major problem is Kick Against Indiscipline (KAI). KAI officials used to trouble us a lot.’’

Kenny also said that he had not thought of any other business aside frying.

According to him, he has no shame frying and selling by the roadside.

The man disclosed that people had often made fun of him because he is a man, frying and selling by the roadside.

He said: “That was when I started newly. Now, people are begging me to teach them about the business. Some people even used to invite me to cook for them at parties or other special occasions.

“I have worked in different schools like the Turkish International School. I was in charge of cooking there. I bake and fry. I also cook for schools during special occasions. This is to tell you how much I love this job.

“Instead of people to be complaining that they don’t have jobs, they should turn their talents and gifts into something useful.’’

Another man who has embraced the business is Mr Prince Neyo. The young man from Ondo State is frying and selling pastries at Akute, Ogun State.

Neyo said that he started as an apprentice at a bakery. Most of the apprentices there were male.

PHOTOS: LILIAN OKAFOR

He said the owner later took them to South Africa, where they further acquired their knowledge in cooking, baking and frying. After acquiring the necessary knowledge, Neyo soon set up his own business.

According to him, he had been in the business since 1997, before he went to South Africa to do a course in Food and Nutrition. In 2009, he established his own business.

He said: “I just can’t imagine myself waking up every morning and going to work for somebody when I could establish my own business.

“This business is my yahoo yahoo! I don’t do any other yahoo yahoo aside this. I have the skills and I enjoy what I do because any money I make from this business goes into my pocket. Every profit is mine. I love doing it for myself.’’

Neyo disclosed that he could bake varieties of pastries, starting with bread, cake, German bread, wheat bread, puff-puff, doughnut and all sorts, with his eyes closed.

He said: “I’m a very passionate person. I can wake up by 3am to do anything concerning my job. This business is step-by-step. We also need God’s grace. I want to establish an eatery after I have saved enough money.

“I can’t possibly continue to fry when I’m old and my hair is turning grey. When I’m old, I want to have something I can lean on. Many people believe that this type of business does not pay, but they are mistaken.”

Neyo said that although he dropped out of secondary school due to finance, he is now somebody because of his passion.

“Yes, I am somebody today. I urge young men in the country to be determined to do something, even though the job in question may be perceived as feminine,” he added.

Business | Money Line

NEW TELEGRAPH TUESDAY, AUGUST 25, 2015

37

Naira stabilises as CBN sustains intervention Although it declined to N210 to the dollar yesterday compared with N208 that it exchanged last Friday, the naira has not dropped below N215 to the dollar on the parallel market in recent weeks.

The naira had weakened on the parallel market to as much as N242 to the dollar last month, on persistent dollar demand after CBN limited importers’ access to dollars on the official interbank market to buy a wide range of goods, in order to save its reserves.

The local currency, has, however, remained stable at N197 to the dollar on the

APPRECIATION Apex bank now sells dollars to BDCs twice weekly Tony Chukwunyem

C

onsistent intervention by the Central Bank of Nigeria (CBN) may have impacted positively on the naira, as the local currency seems to have achieved some level of stability on the parallel market in the last fortnight.

T

official interbank bank.

Dealers attributed the naira’s recent stability on the parallel market to the twice-weekly sale of foreign exchange to Bureaux De Change (BDC), which the CBN commenced three weeks ago.

A Lagos-based BDC operator, Mr. Jacob Awuzia, told the New Telegraph that in addition to the regular $30,000, which the apex bank sells to BDCs on Wednesdays, it had in the last three weeks also sold dollars on Fridays to operators.

He said, “The CBN has intervened actively

in the market in the last three weeks, selling dollars on Wednesdays and Fridays. This has helped to ease the pressure on the naira. However, nobody is sure of how long the CBN would be able to sustain this kind of intervention. For instance, no one is sure at this moment whether the CBN would sell dollars once or twice this week.”

He disclosed that the uncertainty about the CBN’s ability to sustain the intervention has been fuelled by the fact that the regulator does not usually give BDCs any prior notice about whether it

Turmoil in global economy hindering firms’ capital raising efforts

he ongoing turmoil in global markets has led to corporations holding off on raising new debt financing, a development which may delay investments or acquisitions, according to a report by Bloomberg.

More than $5 trillion in value has been lopped from equities worldwide since August 11, when China’s unexpected currency devaluation triggered concern about a slowdown there and in other emerging markets.

U.S. stocks joined Monday’s selloffs in Europe and Asia before paring some losses by midday.

“The pressure to adjust

increases,” and companies will be looking harder at cutting costs and getting more efficient in response to the turmoil, said Hans Ola Meyer, the chief financial officer of Sweden’s Atlas Copco AB, the world’s largest maker of air compressors.

Also, in South Africa, mobile-phone operator MTN Group Ltd. gave up on a plan to repay early about $500 million of debt held in Nigeria, its biggest market, because it can’t get hold of dollars there.

However, analysts believe that the turmoil would not result in investors dumping emerging markets.

Apple’s shares, down as much as 13 percent on Monday morning, rebounded to a gain after Cook said iPhone activations have accelerated in China in recent weeks and the country “represents an unprecedented opportunity over the long term.” An Apple representative confirmed the e-mail.

Meyer, the Atlas Copco CFO, said his company’s strategic interest in China is “just as big as it was two years ago.” The company got about 28 percent of sales from Asia last year, with another 10 percent from Africa and the Middle East and 8.6 percent from South America.

The market slump is a “complete overreaction” and China will continue to grow, said Frank Appel, CEO of Deutsche Post AG, Europe’s biggest mail service.

As at Mar, 2015 Mar, 2015 July, 2015 4/6/2015 Mar 2015 21/8/2015 20/8/2015

N19,142,526.05m N18,579,219.49m 9.2 13 10.77 US$47.4 US$31,527,337,731

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

TTM

Price 98.99 100.75 99.82 102.59 92.29 68.00 79.33

1.68 3.85 4.47 6.43 8.55 14.91 18.90

NIBOR

Tenor (Days) Call 30 90 180

Rate (%) 45.9167 17.5488 18.8699 19.6681

Bid Yield 15.76 15.71 15.59 15.73 15.87 15.58 15.56

Change (%) -3.33 ▼ -0.55 ▼ -0.89 ▼ -0.83 ▼

Change (%) 0.10 ▲ 0.20 ▲ 0.07 ▲ 0.17 ▲ 0.36 ▲ 0.00 ↔ 0.03 ▲

Price 99.14 101.05 100.12 102.89 92.59 68.30 79.63

Tenor (Months)

Offer Yield 15.66 15.61 15.50 15.65 15.80 15.50 15.50

NITTY

1 2 3 6 9 12

Treasury Bills

Rate (%) 14.4652 14.6288 14.8858 15.0357 15.7322 16.3581

Change (%) 0.10 ▲ 0.20 ▲ 0.06 ▲ 0.16 ▲ 0.36 ▲ 0.00 ↔ 0.03 ▲ Change (%) -0.69 ▼ -0.68 ▼ -0.54 ▼ -0.46 ▼ -0.04 ▼ -0.05 ▼

Money Market

Maturity Date Discount Bid Yield Change (%) Discount Offer Yield Change (%) Rate (%) Change (%) 14.52 15.08 0.24 ▲ Open-Buy-Back (OBB) 35.00 -3.33▼ 26-Nov-15 14.77 15.35 0.24 ▲ 14.54 15.70 1.26 ▲ Overnight (O/N) 37.50 -4.33▼ 25-Feb-16 14.79 15.99 1.27 ▲ 13.60 15.61 -0.29▼ 4-Aug-16 13.85 15.94 -0.29▼

Spot($/N)

Bid 197.68

FX

Offer 197.78

Change (%) -0.58 ▼

NIFEX

Spot($/N)

Bid 199.0000

Offer 199.1000

Change (%) 0.00 ↔

CBN Clearing Rates of August 24, 2015 Spot($/N)

196.00

197.00

AFC receives $50m IDB loan for project financing

T

he Africa Finance Corporation (AFC) has announced its acceptance of a $50 million 15-year line of financing, with a 13 year six month repayment period, from the Islamic Development Bank (IDB).

The corporation explained in a statement that the funds would be used to finance projects located across the numerous African IDB member countries. The projects will be structured in a way that is compliant with Islamic Finance, focusing particularly on infrastructural and agricultural projects that promote the economic and social development of the communities concerned, the statement said.

According to the statement, “This is AFC’s first Islamic finance borrowing and is the result of several years of increasing cooperation and col-

S

Source:CBN

FGN Bonds

whether oil prices recover or not. They pointed out that with oil prices suffering further decline in recent days, the prospects don’t look good for the naira.

laboration between the two institutions. AFC initiated discussions in 2009 and a Memorandum of Understanding was later signed with the Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the IDB Group.

“Building on this groundwork a team from the IDB visited AFC in 2014, following the reaffirmation of AFC’s international credit rating of A3/ P2 by Moody’s and based on several more years’ track record in landmark project financing and development. AFC’s involvement in projects such as the Bakwena Toll Road, a transport infrastructure development, which has connected South Africa’s industrial heartland to the nearest deep water port in Mozambique, were instrumental to the success of the corporation’s application.”

Back to School: Sterling Bank rolls out gifts for stakeholders

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

would sell dollars once or twice in a particular week.

According to industry analysts, the CBN’s ability to sustain its intervention would depend on

0.00 ↔ Source: FMDQ

terling Bank Plc has rolled out various offerings that would make going back to school in September a lot easier for all stakeholders in the value chain.

This according to a statement from the lender, is in fulfillment of its commitment to raise the bar in education financing and support government’s efforts at repositioning the education sector.

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

Sterling Bank’s Group Head, Strategy & Communications, Mr. Shina Atilola said that new and existing “I CAN SAVE customers can enjoy freebies such as school bags, raincoats, cultural heritage books, exercise books and other writing materials depending on the amount of savings in their account”.

Mr. Atilola explained that the financing scheme

advanced to parents was introduced to assist parents at the time of resumption of their wards.

The introduction of the scheme, according to him, will allow parents put their wards in school while awaiting salaries and other receivables.

He gave assurance that the lender will continue to support capacity building in the education sector, noting that schools with their salary domiciled will have the opportunity of having their teachers trained by the Bank under the Bank’s Personal Financial Management training scheme.

He also spoke on other plans for teachers: “Teachers deserve the quality of living that employees in other sectors of the society enjoy. This informed the Bank’s introduction of the Household Equipment Finance. This solution allows teachers and other school staffers acquire household equipment like Refrigerating Sets and Television sets amongst other items with flexible repayment options spread over three months at discounted rates”.

Business | Financial Market News

38

TUESDAY, AUGUST 25, 2015 NEW TELEGRAPH

FMDQ Daily Quotations List

24-Aug-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 20.00 100.00 300.00 351.30 233.90 311.93 605.31 599.99 75.00 150.00 200.00 591.57 370.50

TOTAL OUTSTANDING VALUE

4,971.02

TOTAL MARKET CAPITALISATION

4,461.34

Rating/Agency

Issuer

Description

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

0.98 1.68 1.92 2.02 2.77 3.85 4.16 4.47 6.43 8.55 13.26 13.74 14.24 14.91 18.90

15.46 15.76 15.75 15.77 15.74 15.71 15.63 15.59 15.73 15.87 15.45 15.39 15.32 15.58 15.56

15.28 15.66 15.65 15.67 15.67 15.61 15.51 15.50 15.65 15.80 15.40 15.33 15.25 15.50 15.50

97.88 98.99 90.49 89.25 88.98 100.75 74.26 99.82 102.59 92.29 97.40 83.55 60.87 68.00 79.33

98.03 99.14 90.64 89.40 89.13 101.05 74.56 100.12 102.89 92.59 97.70 83.85 61.17 68.30 79.63

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

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Modelled Price

03-Apr-12 09-Dec-11 20-Apr-12 06-Jul-12

17.25 0.00/16.00 0.00/16.50 0.00/16.50

2.10 112.22 116.70 66.49

03-Apr-17 08-Dec-16 19-Apr-17 06-Jul-17

0.86 1.29 1.65 1.87

2.94 1.00 2.66 3.13

18.53 16.58 18.37 18.87

99.01 99.28 103.09 98.53

Agency Bonds FMBN ***LCRM

17.25 FMB II 03-APR-2017 0.00/16.00 LCRM 08-DEC-2016 0.00/16.50 LCRM II 19-APR-2017 0.00/16.50 LCRM III 06-JUL-2017

TOTAL OUTSTANDING VALUE

297.52

TOTAL MARKET CAPITALISATION

299.31

Sub-National Bonds A/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

0.02

4.44

20.15

99.87

A-/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

2.16

30-Sep-15

0.10

3.23

18.92

99.37

BBB+/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

2.60

30-Jun-16

0.60

4.46

20.33

96.54

A/Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

3.96

30-Jun-16

0.61

3.48

19.34

97.83

A+/Agusto; ‡ /GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

1.65

1.00

16.71

90.61

‡ /Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

21.24

30-Jun-17

1.14

1.00

16.50

97.23

A-/Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

2.35

1.79

17.55

93.34

‡ /Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

30.81

30-Sep-18

1.74

1.00

16.72

96.16

A-/Agusto; A-/GCR

NIGER

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

9.00

04-Oct-18

1.75

1.00

16.72

96.11

‡ /Agusto; A-/GCR†

*EKITI

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

12.40

09-Dec-18

1.93

1.00

16.75

96.46

A-/Agusto

*NIGER

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

9.21

12-Dec-18

1.94

4.78

20.54

90.31

A-/Agusto; A-/GCR

*ONDO

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

24.44

14-Feb-19

2.12

1.00

16.76

97.87

BBB+/Agusto; A-/GCR Aa-/Agusto; ‡ /GCR

*GOMBE LAGOS

15.50 GOMBE 02-OCT-2019 14.50 LAGOS 22-NOV-2019

BBB-/Agusto; BBB+/GCR

*OSUN

14.75 OSUN 12-DEC-2019

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

15.50 14.50 14.75

15.09 80.00 24.74

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

2.35 4.25 2.42

2.02 1.00 1.00

17.78 16.61 16.75

95.90 93.67 96.25

BBB-/Agusto

*OSUN

14.75 OSUN II 10-OCT-2020

10-Oct-13

14.75

10.46

10-Oct-20

2.96

1.82

17.56

93.94

Aa-/Agusto; ‡ /GCR

LAGOS

13.50 LAGOS 27-NOV-2020

27-Nov-13

13.50

87.50

27-Nov-20

5.26

1.00

16.63

89.23

A-/Agusto; BBB+/DataPro

KOGI

15.00 KOGI 31-DEC-2020

31-Dec-13

15.00

5.00

31-Dec-20

5.35

1.00

16.64

94.26

‡ /Agusto A-/GCR

*EKITI *NASARAWA

14.50 EKITI II 31-DEC-2020 15.00 NASARAWA 06-JAN-2021

31-Dec-13

14.50

4.30

31-Dec-20

3.20

1.00

16.73

94.84

06-Jan-14

15.00

4.31

06-Jan-21

3.22

1.00

16.73

95.96

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

437.71 409.16

Corporate Bonds BBB-/Agusto

*FLOURMILLS

12.00 FLOURMILLS 9-DEC-2015

09-Dec-10

12.00

9.38

09-Dec-15

0.29

1.00

16.70

98.65

BB/GCR

*CHELLARAMS

14.00 CHELLARAMS 06-JAN-2016

06-Jan-11

14.00

0.22

06-Jan-16

0.37

2.63

18.43

98.37

A+/Agusto; A-/GCR

NAHCO

13.00 NAHCO 29-SEP-2016

29-Sep-11

13.00

15.00

29-Sep-16

1.10

1.00

16.48

96.59

A-/Agusto

FSDH

14.25 FSDH 25-OCT-2016

25-Oct-13

14.25

5.53

25-Oct-16

1.17

1.34

16.86

97.27

A/GCR

UBA

13.00 UBA 30-SEP-2017

30-Sep-10

13.00

20.00

30-Sep-17

2.10

1.00

16.76

93.52

BBB-/GCR

18.00 C&I LEASING 30-NOV-2017

30-Nov-12

18.00

0.56

30-Nov-17

1.33

1.88

17.48

101.28

Nil

*C & I LEASING *DANA#{r}

MPR+7.00 DANA 9-APR-2018

09-Apr-11

16.00

5.40

09-Apr-18

1.38

1.00

16.62

99.26

A-/DataPro†; B+/GCR

*TOWER#

MPR+7.00 TOWER 9-SEP-2018

09-Sep-11

18.00

2.54

09-Sep-18

1.54

1.00

16.69

101.62

#

99.12

AAA/DataPro†; A/GCR

*TOWER

MPR+5.25 TOWER 9-SEP-2018

09-Sep-11

16.00

0.70

09-Sep-18

1.54

1.00

16.69

A+/Agusto; A/GCR

UBA

14.00 UBA II 30-SEP-2018

30-Sep-11

14.00

35.00

30-Sep-18

3.10

3.00

18.73

89.18

BBB+/Agusto; BBB+/GCR

15.75 LA CASERA 18-OCT-2018

18-Oct-13

15.75

2.10

18-Oct-18

1.65

2.29

18.00

96.96

BBB-/DataPro†; BB/GCR

*LA CASERA *CHELLARAMS#

MPR+5.00 CHELLARAMS II 17-FEB-2019

17-Feb-12

18.00

0.32

17-Feb-19

1.98

6.11

21.87

94.26

Nil

*DANA#{r}

16.00 DANA II 1-APR-2019

01-Apr-14

16.00

4.50

01-Apr-19

2.35

2.16

17.92

96.47

A+/Agusto; A-/GCR

NAHCO

15.25 NAHCO II 14-NOV-2020

14-Nov-13

15.25

2.05

14-Nov-20

5.23

2.76

18.39

89.66

BBB/GCR

FCMB

14.25 FCMB I 20-NOV-2021

20-Nov-14

14.25

26.00

20-Nov-21

6.24

1.00

16.74

90.52

A/GCR

UBA

16.45 UBA I 30-DEC-2021

30-Dec-14

16.45

30.50

30-Dec-21

6.35

1.58

17.33

96.62

A/GCR

STANBIC IBTC

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

30-Sep-14

16.29

0.10

30-Sep-24

9.10

1.00

16.95

96.95

A/GCR

STANBIC IBTC

13.25 STANBIC IB 30-SEP-2024

30-Sep-14

13.25

15.44

30-Sep-24

9.10

1.00

16.95

83.10

TOTAL OUTSTANDING VALUE

175.32

TOTAL MARKET CAPITALISATION

162.89

Supranational Bond AAA/S&P

IFC

10.20 IFC 11-FEB-2018

11-Feb-13

10.20

12.00

11-Feb-18

2.47

1.00

14.70

90.96

Aaa/Moody's; AAA/S&P

AfDB

11.25 AFDB 1-FEB-2021

10-Jul-14

11.25

12.95

01-Feb-21

3.69

1.00

16.70

85.73

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE

24.95 22.02

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

8.04

7.66

94.40

96.01

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

6.85

6.46

95.56

96.54

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

8.26

8.03

89.21

90.47

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

1,395.88

Corporate Eurobonds B+/Fitch; B+/S&P

GTBANK PLC I

7.50 MAY 19, 2016

19-May-11

7.50

500.00

19-May-16

4.49

4.49

102.13

102.13

B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

9.28

9.28

96.50

96.50

B/Fitch; B/S&P

FIDELITY BANK PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

14.46

13.44

83.50

85.50

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

9.64

8.85

90.16

92.19

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

8.84

8.84

92.03

92.03

B/Fitch; B/S&P

DIAMOND BANK PLC

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

12.27

11.63

89.67

91.45

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

FIRST BANK PLC ACCESS BANK PLC II FIRST BANK LTD

8.25 AUG 07, 2020 9.25/6M USD LIBOR+7.677 JUN 24, 2021 8.00/2Y USD SWAP+6.488 JUL 23 2021

07-Aug-13 24-Jun-14 23-Jul-14

8.25 9.25 8.00

300.00 400.00 450.00

07-Aug-20 24-Jun-21 23-Jul-21

9.67 12.68 11.48

9.67 12.29 11.48

93.70 86.01 84.52

93.70 87.46 84.52

B-/S&P

ECOBANK NIG. LTD

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

11.81

11.35

86.31

88.07

TOTAL OUTSTANDING VALUE

3,650.00

TOTAL MARKET CAPITALISATION

3,320.27

**Treasury Bills^ DTM 10 17 31 38 52 59 66 73

FIXINGS Maturity 3-Sep-15 10-Sep-15 24-Sep-15 1-Oct-15 15-Oct-15 22-Oct-15 29-Oct-15 5-Nov-15

Bid Discount (%) 14.11 13.74 15.01 15.07 15.15 14.69 15.06 13.31

Offer Discount (%) 13.86 13.49 14.76 14.82 14.90 14.44 14.81 13.06

Bid Yield (%) 14.16 13.83 15.20 15.31 15.48 15.05 15.48 13.67

Money Market

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 45.9167 17.5488 18.8699 19.6681

Tenor

Rate (%)

OBB

35.00

O/N Tenor Call 1M

37.50

REPO

Rate (%) 35.00 38.50

Foreign Exchange (Spot & Forwards) Tenor

Bid ($/N)

Offer ($/N)

Spot 7D 14D 1M 2M 3M

197.62 199.53 201.16 201.74 204.81 208.67

197.72 199.84 201.47 202.09 205.24 209.23

FGN Bonds

Price

Rating/Agency

Issuer

NA

NA

NEW TELEGRAPH TUESDAY, AUGUST 25, 2015

BEARISH

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 20.00 100.00 300.00 351.30 233.90 311.93 605.31 599.99 75.00 150.00 200.00 591.57 370.50

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

0.98 1.68 1.92 2.02 2.77 3.85 4.16 4.47 6.43 8.55 13.26 13.74 14.24 14.91 18.90

Outstanding Value (N'bn)

Maturity Date

Bid Yield (%)

Bid Price

Offer Price

15.46 15.76 15.75 15.77 15.74 15.71 15.63 15.59 15.73 15.87 15.45 15.39 15.32 15.58 15.56

15.28 15.66 15.65 15.67 15.67 15.61 15.51 15.50 15.65 15.80 15.40 15.33 15.25 15.50 15.50

97.88 98.99 90.49 89.25 88.98 100.75 74.26 99.82 102.59 92.29 97.40 83.55 60.87 68.00 79.33

98.03 99.14 90.64 89.40 89.13 101.05 74.56 100.12 102.89 92.59 97.70 83.85 61.17 68.30 79.63

Avg. Life/TTM (Yrs)

Risk Premium (%)

Valuation Yield (%)

Modelled Price

Business | Financial Market News

Stock market down by N227bn

TOTAL OUTSTANDING VALUE

39

4,971.02

TOTAL MARKET CAPITALISATION

4,461.34

Losses in blue chipRating/Agency firms depress Agency Bonds investment value

Description

Issuer

Issue Date

Coupon (%)

particularly in the bank- as against the increase of 17.25 FMB II 03-APR-2017 03-Apr-12 ing stocks.0.00/16.00 LCRM 08-DEC-2016N44 billion recorded last 09-Dec-11 ***LCRM 0.00/16.50 LCRM II 19-APR-2017 20-Apr-12 Friday to close at N10.24 Specifically, the All 0.00/16.50 LCRM III 06-JUL-2017 06-Jul-12 Share Index depreciated trillion.

TOTAL OUTSTANDING VALUE Stories

by Chris Ugwu TOTAL MARKET CAPITALISATION 2.22 per cent to close at On the sectorial indi29,214.13 points, in con- ces, the Banking Index Sub-National Bonds 12.50 KADUNA 31-AUG-2015 A/Agusto KADUNA rading in equitrast to the increase of shed 3.22 per cent to31-Aug-10 close 30-Sep-10 13.00 EBONYI 30-SEP-2015 A-/Agusto 0.44 per cent recorded at 285.58 points, followed ties closed *EBONYI on a 30-Jun-11 14.00 BENUE 30-JUN-2016 BBB+/Agusto *BENUE 30-Jun-09 15.50 IMOclose 30-JUN-2016 A/Agusto *IMO last Friday to at by the NSE 30-Index negative note with 19-Apr-10 10.00 LAGOS 19-APR-2017 A+/Agusto; ‡ /GCR LAGOS at the Nigerian 29,878.33 points. at 30-Jun-10 13.75 BAYELSA 30-JUN-20172.08 per cent to close ‡ /Agusto *BAYELSA 30-Dec-10 EDO 31-DEC-2017 A-/Agusto EDO Stock Exchange (NSE) Market 14.00 capitalisation 1,317.24 points.

30-Sep-11 14.00 DELTA 30-SEP-2018 ‡ /Agusto; A+/GCR *DELTA yesterday , as more inveswas down by N227 The Insurance 04-Oct-11 Index 14.00 NIGER billion II 4-OCT-2018 A-/Agusto; A-/GCR NIGER 09-Dec-11 ‡ /Agusto; A-/GCR† *EKITI 14.50 EKITI 09-DEC-2018 dropped 1.62 per cent tors sold their holdings to close at N10.01 trillion, 12-Dec-13 A-/Agusto *NIGER 14.00 NIGER III 12-DEC-2018 to close at 131.43 points, 14-Feb-12 A-/Agusto; A-/GCR *ONDO 15.50 ONDO 14-FEB-2019 02-Oct-12 BBB+/Agusto; A-/GCR *GOMBE 15.50 GOMBE 02-OCT-2019 while the Consumer Aa-/Agusto; ‡ /GCR LAGOS 14.50 LAGOS 22-NOV-2019 22-Nov-12 12-Dec-12 BBB-/Agusto; BBB+/GCR *OSUN 14.75 OSUN 12-DEC-2019 Goods Index fell 1.17 per 10-Oct-13 BBB-/Agusto *OSUN 14.75 OSUN II 10-OCT-2020 744.00 Aa-/Agusto; ‡ /GCR LAGOS 13.50 LAGOS 27-NOV-2020 cent to close at 27-Nov-13 31-Dec-13 A-/Agusto; BBB+/DataPro KOGI 15.00 KOGI 31-DEC-2020 points.

31-Dec-13 ‡ /Agusto *EKITI 14.50 EKITI II 31-DEC-2020 Index A-/GCR *NASARAWA 15.00 NASARAWA 06-JAN-2021 The Oil and Gas06-Jan-14

gained 0.53 per cent to 17.25 2.10 close0.00/16.00 at 336.13 points, 112.22but 0.00/16.50 116.70 the Lotus Islamic 66.49 Index 0.00/16.50 was down 1.71 per cent 297.52 to close at 2,122.41299.31 points.

The Industrial Index 12.50 1.85 per cent 8.50 declined to 2.16 close 13.00 at 2,188.23 points, 14.00 2.60 while15.50 the Pension 3.96 Index 10.00 57.00 depreciated 1.81 per cent 13.75 21.24 14.00 25.00 to close at 862.18 points.

14.00 30.81 The Alternative9.00 Secu14.00 14.50 12.40 rities14.00 Market remained 9.21 flat at15.50 1,207.64 points.

24.44 15.50 15.09 Paints Manufactur14.50 80.00 14.75 24.74 the ing Company Plc led 14.75 10.46 gainers’ 13.50 table with 87.50 10 5.00 kobo 15.00 or 9.09 per cent to 14.50 4.30 close 15.00 at N1.20 per share, 4.31

FMBN

T

Enugu seek more investment from quoted firms

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

*FLOURMILLS

12.00 FLOURMILLS 9-DEC-2015

*CHELLARAMS

14.00 CHELLARAMS 06-JAN-2016

09-Dec-10

12.00

06-Jan-11

14.00

9.38

NAHCO 29-SEP-2016 29-Sep-11 13.00 he governorNAHCO of Rockfeller 13.00 Foundation 14.25 FSDH 25-OCT-2016 A-/Agusto 25-Oct-13 14.25 FSDH Enugu State,UBA Mr. added Enugu as 30-SEP-2017 one of 13.00 UBA A/GCR 30-Sep-10 13.00 18.00 C&I LEASING 30-NOV-2017 BBB-/GCR Ifeanyi Ugwuanyi, 30-Nov-12 Nigeria 18.00 *C & I LEASING 100 resilient cities in the Z Cussons Plc has MPR+7.00 DANA 9-APR-2018 09-Apr-11 16.00 Nil *DANA has called on listed *TOWER com- world. reported MPR+7.00 TOWER 9-SEP-2018 09-Sep-11 a 10.07 per 18.00cent A-/DataPro†; B+/GCR 9-SEP-2018 09-Sep-11 16.00 AAA/DataPro†; A/GCRother estab*TOWER SpeakingMPR+5.25 at theTOWER event, panies and decline in net earnings 14.00 UBA II 30-SEP-2018 A+/Agusto; A/GCR 30-Sep-11 14.00 UBA for the full year ended May lishments to invest in Managing Director Ni15.75 LA CASERA 18-OCT-2018 BBB+/Agusto; BBB+/GCR 18-Oct-13 15.75 *LA CASERA MPR+5.00 Plc, CHELLARAMS 17-Feb-12 18.00 BBB-/DataPro†; *CHELLARAMS the state.BB/GCR geria Breweries Mr. II 17-FEB-2019 2015.

16.00 DANA II 1-APR-2019 01-Apr-14 16.00 Nil *DANA Speaking at theNAHCO un- Nicolas Vervelde, reIn a filing with the Nigeri15.25 NAHCO II 14-NOV-2020 A+/Agusto; A-/GCR 14-Nov-13 15.25 14.25 FCMBGulder I 20-NOV-2021 BBB/GCR 14.25 the FCMB veiling of the world’s called that in 2004 an Stock 20-Nov-14 Exchange (NSE), 16.45 UBA I 30-DEC-2021 30-Dec-14 16.45 A/GCR UBA profit after tax biggest promotion poster masterminded the first 182D T.bills+1.20 STANBIC IA 30-SEP-2024 company’s A/GCR 30-Sep-14 16.29 fell STANBIC IBTC STANBICshow IB 30-SEP-2024 A/GCR 13.25 the to launch the GulderSTANBIC Na- IBTCwholly local13.25 reality to N4.57030-Sep-14 billion during TOTAL OUTSTANDING VALUE tional promotion at the produced in Nigeria, the period under review against TOTAL MARKET CAPITALISATION Okpara Square, Enugu, Gulder ultimate search, N5.082 billion recorded the Supranational Bond he said the state had over which has run for 11 conprevious 11-Feb-13 year, representing a 10.20 IFC 11-FEB-2018 AAA/S&P IFC 10.20 decline of10-Jul-14 10.07 per cent. the years created an en- secutive seasons.

11.25 AFDB 1-FEB-2021 Aaa/Moody's; AAA/S&P AfDB 11.25 TOTAL OUTSTANDING VALUEfor He noted that with the abling environment Profit before tax stood at TOTAL MARKET CAPITALISATION both local and foreign unveiling of the world’s N6.556 billion as against 6.949 investors. biggest promotion poster, billion posted the previous Description Rating/Agency Issuer Issue Date Coupon (%) The governor, who Gulder breaks the record year, accounting for a drop of FGN Eurobonds was represented by the for the world’s largest 5.66 per cent.

BB-/Fitch; B+/S&P 07-Oct-11 State Commissioner of poster with an area of 6.75 5.3JAN 28, 2021 Turnover increased6.75marBB-/Fitch; 5.13 JUL 12, 2018 12-Jul-13 5.13 Commerce and Indus- FGN m square. ginally by 0.30 per cent to BB-/S&P BB-/Fitch; try, Barrister Sam Ogbu He said: “The Gulder N73.126 billion 6.38 JUL 12, 2023 12-Jul-13 during the 6.38 peBB-/S&P Nwaobodo, applauded Ultimate poster beats the riod, compared with N72.905 TOTAL OUTSTANDING VALUE Nigerian Breweries Plc current record of 4.7 m billion in the same period of TOTAL MARKET CAPITALISATION for choosing Enugu for square achieved in Kolast year.

Corporate Eurobonds the kick off of the promo. chi, India on 27 June 2015.

The company declared 61 7.50 MAY 19, 2016 B+/Fitch; B+/S&P GTBANK PLC I 19-May-11 7.50 kobo final dividend for He said it was anACCESS elo- BANKThis 7.25 JUL 25, 2017 B+/S&P PLC feat is an attestation 25-Jul-12 7.25 the 6.88 MAY 09, 2018 B/Fitch; B/S&P 09-May-13 6.88 company’s shareholders. quent testimony ofFIDELITY the BANK toPLC the ultimate beer and 6.00 NOV 08, 2018 B+/Fitch; B+/S&P GTBANK PLC 08-Nov-13 6.00 Annual22-Apr-14 pre-tax profit6.25at PZ state BB-/S&P as an investment 6.25 APR 22, 2019 B+/Fitch; ZENITH BANKthe PLC Ultimate man who 8.75 May 21, 2019 B/Fitch; B/S&P DIAMOND BANK PLC 8.75 Cussons, 21-May-14 the Imperial Leather destination in Nigeria. attends up to be counted 8.25 AUG 07, 2020 B-/Fitch; B/S&P FIRST BANK PLC 07-Aug-13 8.25 HeB/S&P noted that recently soap maker with a major preswith B-/Fitch; ACCESS BANK PLC II his beer”. 9.25/6M USD LIBOR+7.677 JUN 24, 2021 24-Jun-14 9.25 A+/Agusto; A-/GCR

P

#{r}

#

#

#

#{r}

FIRST BANK LTD

B-/S&P

ECOBANK NIG. LTD

followed by Wema Bank Products Plc depreciated 03-Apr-17 0.86 2.94 18.53 99.01 Plc08-Dec-16 with seven1.29 kobo or 1.00 by eight16.58 kobo or 8.79 99.28 per 19-Apr-17 1.65 2.66 18.37 103.09 8.75 per cent to close at cent to close at 83 kobo 06-Jul-17 1.87 3.13 18.87 98.53 87 kobo per share. per share.

Transcorp Plc shed 17 Flour Mills Plc added N1.25 or 4.99 per cent kobo or 7.20 per cent to 0.02 to 31-Aug-15 close at N26.32 per 4.44 close at20.15 N2.19 per99.87 share, 30-Sep-15 0.10 18.92 share, Oil 3.23 Plc 99.37 dipped 30-Jun-16while Forte 0.60 4.46 while Seplat 20.33 96.54 0.61 19.34 97.83cent Plc30-Jun-16 dropped N10.40 or 3.48 by N12.26 or five per 19-Apr-17 1.65 1.00 16.71 90.61 4.55 per cent to1.14close at 1.00 to close16.50 at N233.04 30-Jun-17 97.23 per 31-Dec-17 2.35 1.79 93.34 N239.90 per share. share. 17.55 30-Sep-18 1.74 1.00 16.72 96.16 Dangote Flour Mill Plc Red Star Express 04-Oct-18 1.75 1.00 16.72 96.11 Plc 09-Dec-18 1.93 1.00 16.75 96.46 20 kobo or was up three kobo or 1.05 4.78 depreciated 12-Dec-18 1.94 20.54 90.31 cent to close at per cent to close2.12at N2.90 1.00 five per16.76 14-Feb-19 97.87 02-Oct-19 2.35 2.02 17.78 95.90 per share.

N3.80 per share.

22-Nov-19 4.25 1.00 16.61 93.67 12-Dec-19 16.75 96.25 Conversely, 2.42 PZ Cus- 1.00 In all, a total of 257.7 10-Oct-20 2.96 1.82 17.56 93.94 sons Plc lost N2.90 shares 89.23 valued 27-Nov-20 5.26 or 9.72 1.00 million16.63 31-Dec-20 94.26 exper cent to close5.35 at N26.93 1.00 at N2.7816.64 billion were 31-Dec-20 3.20 1.00 16.73 94.84 per share, while Vono 1.00 changed in 4,247 deals.

06-Jan-21 3.22 16.73 95.96

PZ Cussons net earnings drop by 10%

Corporate Bonds BB/GCR

B-/Fitch; B/S&P

#

437.71 409.16

BBB-/Agusto

T

Maturity Date

Offer Yield (%)

09-Dec-15

0.29

1.00

16.70

98.65

0.22

06-Jan-16

0.37

2.63

18.43

98.37

15.00

29-Sep-16

1.10

1.00

16.48

96.59

5.53

25-Oct-16

1.17

1.34

16.86

97.27

20.00

30-Sep-17

2.10

1.00

16.76

93.52

0.56 30-Nov-17 1.33 ence in Nigeria, have slumped 5.40 09-Apr-18 1.38 by almost a third because1.54 of 2.54 09-Sep-18 0.70 political 09-Sep-18 1.54 severe and economic 35.00 30-Sep-18 3.10 problems in the African coun2.10 18-Oct-18 1.65 1.98 try,0.32 as well as17-Feb-19 unfavourable 4.50 01-Apr-19 2.35 currency movements.

2.05 14-Nov-20 5.23 26.00 20-Nov-21 6.24 According to Financial 30.50 30-Dec-21 6.35 Times for the year 0.10 of London, 30-Sep-24 9.10 15.44 30-Sep-24 9.10 to May, the company’s pre-tax 175.32 profit fell 32 per cent to £84mil162.89 lion, on revenues of £819million.

12.00 11-Feb-18 2.47 Nigeria’s new government 12.95 01-Feb-21 3.69 24.95 continues to battle Boko Ha22.02extremists, while the ram Outstanding Value economy has been nation’s Maturity Date Bid Yield (%) ($mm) blighted by falling oil prices and a currency crisis that has 500.00 28-Jan-21 8.04 made imported goods much 500.00 expensive 12-Jul-18 6.85 more and eroded people’s spending power. 8.26 500.00 12-Jul-23 The local currency, the nai1,500.00 ra, was devalued by 25 per cent 1,395.88 in the second half of PZ Cussons’ financial19-May-16 year.

500.00 4.49 In an effort to stem the flow 350.00 25-Jul-17 9.28 02-May-18 14.46 of 300.00 dollars out of the country, 400.00 08-Nov-18 9.64 the500.00 Central Bank of Nigeria 22-Apr-19 8.84 200.00 has produced 21-May-19 12.27 (CBN) a long 07-Aug-20 9.67 list300.00 of items locals cannot buy 400.00 24-Jun-21 12.68

17.48 101.28 the with1.88money derived from 1.00 16.62 99.26 foreign exchange market, 1.00 16.69 101.62 in1.00 cluding soap 16.69 as well as99.12 tooth3.00 18.73 89.18 picks 2.29and tinned 18.00 fish.

96.96 6.11Cussons, 21.87 94.26 PZ which has none2.16 17.92 96.47 theless 2.76 increased 18.39 its annual 89.66 di1.00by 3.1 per 16.74 vided cent to 890.52 pence 1.58 17.33 96.62 per 1.00 share, said: “Within96.95 Africa 16.95 16.95 market 83.10 and1.00 our largest Nigeria, disruption in the north, the Ebola outbreak, presidential 1.00 elections 14.70 and a significant 90.96 currency devaluation have 1.00 16.70 85.73 all contributed to a very difficult operating environment “The households goods Offer Yield (%) Bid Price Offer Price group added that some of its & Yields otherPrices important markets were 7.66 94.40 96.01 suffering from imported infla96.54 tion6.46 because 95.56 of their currencies.8.03 These included Australia, 89.21 90.47 Indonesia and Nigeria.”

The company said the outlook for its business is challenging.

4.49 102.13 102.13 PZ Nigeria Plc 9.28Cussons 96.50 96.50 had 13.44 83.50 85.50 reported a 27.91 per cent de8.85 90.16 92.19 cline during 8.84in net earnings 92.03 92.03 89.67 the11.63 third quarter 2015 91.45 ended 9.67 93.70 93.70 February 28, 2015.

12.29 86.01 87.46

8.00/2Y USD SWAP+6.488 JUL 23 2021

23-Jul-14

8.00

450.00

23-Jul-21

11.48

11.48

84.52

84.52

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

11.81

11.35

86.31

88.07

TOTAL OUTSTANDING VALUE

3,650.00

FMDQ Daily Quotations List

TOTAL MARKET CAPITALISATION

The DQL contains **Treasury Bills^

24-Aug-15

3,320.27

data relating to, amongst other things, market and model prices, rates of foreign exchange products, fixed income securities The Information does not constitute FIXINGSand instruments in the financial Money market Market (the “Information”).

Foreign Exchange (Spot & Forwards) DTM MaturityWe attempt to Bid Discount Discount (%) Bid Information Yield (%) Tenor Rate (%) professional, financial or investment advice. ensure the (%) InformationOffer is accurate; however, the is provided “AS IS” and on an “AS AVAILABLE” basis and may not be accurate or up to date. We do not guarantee NIBOR 10 3-Sep-15 14.11 13.86 14.16 Bid ($/N) Offer ($/N) OBB taken on the35.00 Tenor the accuracy, timeliness, completeness, performance or fitness 13.74 for a particular purpose13.49 of any of the Information, neither do we Tenor accept liability for Rate the results of any action basis of the Information.

17 10-Sep-15 13.83 (%) 31 38 52 59 66 73 80 Rating/Agency 94 101 108 115 122 136 143 150 157 164 171 178 NA 185 192 206 213 220 227 234 241

24-Sep-15 1-Oct-15 15-Oct-15 22-Oct-15 29-Oct-15 5-Nov-15 12-Nov-15 Issuer 26-Nov-15 3-Dec-15 10-Dec-15 17-Dec-15 24-Dec-15 7-Jan-16 14-Jan-16 21-Jan-16 28-Jan-16 4-Feb-16 11-Feb-16 18-Feb-16 NA 25-Feb-16 3-Mar-16 17-Mar-16 24-Mar-16 31-Mar-16 7-Apr-16 14-Apr-16 21-Apr-16

FGN Bonds

15.01 15.07 15.15 14.69 15.06 13.31 14.83 Description 14.77 14.15 14.15 13.05 16-AUG-2016 14.33 ^15.10 27-APR-2017 14.93 9.85 27-JUL-2017 14.57 14.83 9.35 31-AUG-2017 14.81 10.70 30-MAY-2018 14.90 ^16.00 29-JUN-2019 14.84 14.86 7.00 23-OCT-2019 14.17 ^15.54 13-FEB-2020 14.79 14.79 ^16.39 27-JAN-2022 14.46 ^14.20 14-MAR-2024 14.18 15.00 28-NOV-2028 14.20 14.86 12.49 22-MAY-2029 14.58 8.50 20-NOV-2029 14.40

14.76 14.82 14.90 14.44 14.81 13.06 14.58 Date Issue 14.52 13.90 13.90 16-Aug-13 14.08 27-Apr-12 14.68 27-Jul-07 14.32 14.58 31-Aug-07 14.56 30-May-08 14.65 29-Jun-12 14.59 14.61 23-Oct-09 13.92 13-Feb-15 14.54 14.54 27-Jan-12 14.21 14-Mar-14 13.93 28-Nov-08 13.95 14.61 22-May-09 14.33 20-Nov-09 14.15

Bonds

255

5-May-16

^10.00 23-JUL-2030 14.15 ^12.149314.25 18-JUL-2034

276

26-May-16

14.19

13.94

15.90

2-Jun-16

14.03

13.78

15.74

14-Jul-16

14.01

13.76

16.01

346 4-Aug-16 13.85 *for the Amortising bonds, the average life is calculated and not the duration

13.60

15.94

248

28-Apr-16

TOTAL OUTSTANDING VALUE 283 325

TOTAL MARKET CAPITALISATION

23-Jul-10 13.90

15.20 15.31 15.48 15.05 15.48 13.67 15.33 Coupon (%) 15.35 14.73 14.76 13.05 15.01 15.10 15.71 9.85 15.41 15.74 9.35 15.78 10.70 15.92 16.00 15.90 15.97 7.00 15.22 15.54 15.99 16.03 16.39 15.75 14.20 15.46 15.00 15.53 16.38 12.49 16.08 8.50 15.91

18-Jul-14 14.00

10.00 15.66

12.1493 15.83

O/N 1M 3M 6M

45.9167 17.5488 18.8699 19.6681

Outstanding Value NITTY (N'bn) Tenor 1M 581.39 2M 480.13 3M 20.00 6M 9M 100.00 12M

Rating/Agency

Issuer

Description

FMBN Modified Duration Buckets ***LCRM

<3

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

3<5 >5 Market

17.25 FMB II 03-APR-2017 0.00/16.00 LCRM 08-DEC-2016 Total Outstanding Porfolio Market Value(Bn) 0.00/16.50 LCRM II 19-APR-2017Volume(Bn) 0.00/16.50 LCRM III 06-JUL-2017 829.22

831.43

1,435.98

1,467.03

Tenor Call 1M 3M (Yrs) TTM 6M

Maturity Date Rate (%) 14.4652 16-Aug-16 14.6288 27-Apr-17 14.8858 27-Jul-17 15.0357 15.7322 31-Aug-17 16.3581

Rate (%) 35.00 38.50 39.00 Bid Yield 39.50

(%)

Spot 7D 14D 1M 2M 3M Offer 6M Yield 1Y (%)

0.98 15.46 15.28 1.68 15.76 15.66 :Benchmarks 1.92 15.75 15.65 * :Amortising Bond µ :Convertible Bond 2.02 15.77 15.67 AMCON: Asset Management Corporation of Nigeria 2.77 15.74 15.67 FGN: Federal Government of Nigeria 3.85Mortgage Bank of 15.71 15.61 FMBN: Federal Nigeria IFC: International 4.16 Finance Corporation 15.63 15.51 LCRM: Local Contractors Receivables Management 4.47 Aviation Handling 15.59Company 15.50 NAHCO: Nigerian O/N: Overnight 6.43 15.73 15.65 UPDC: UAC Property Development Company 8.55 15.87 15.80 WAPCO:West Africa Portland Cement Company 13.26 15.45 15.40 13.74 15.39 15.33 14.24 15.32 15.25 14.91 15.58 15.50 18.90 15.56 15.50

NOTE:

197.62 197.72 199.53 199.84 201.16 201.47 201.74 Price202.09 204.81 205.24 208.67 209.23 218.46 219.53 Bid Price Offer 235.45 238.30

Price

97.88 98.99

98.03 99.14

88.98

89.13

102.59

102.89

97.40 83.55 60.87 68.00 79.33

97.70 83.85 61.17 68.30 79.63

Valuation Yield (%)

Modelled Price

NA :Not Applicable 90.64 ^ : Market90.49 Prices # : Floating Rate Bond 89.25 89.40 ***: Deferred coupon bonds

100.75under review 101.05 ‡ : Bond rating †: Bond rating 74.26expired 74.56 N/A :Not Available {r} :Issuer99.82 in receivership 100.12 NGC: Nigeria-German Company 92.29 92.59 UBA: United Bank for Africa

4,971.02 4,461.34

Issue Date

Agency Bonds

37.50

REPO

300.00 30-May-18 351.30 29-Jun-19 233.90 NIFEX 23-Oct-19 311.93 Current Price ($/N) 13-Feb-20 BID($/N) 605.31 199.0000 27-Jan-22 OFFER ($/N) 199.1000 599.99 14-Mar-24 75.00 28-Nov-28 150.00 22-May-29 200.00 20-Nov-29 591.57 23-Jul-30 370.50 18-Jul-34

#

Risk Premium is a combination of credit risk and liquidity risk premiums **Exclusive of non-trading t.bills

O/N

Coupon (%)

Outstanding Value (N'bn)

FMDQ FGN 17.25 BOND INDEX 2.10

03-Apr-12 09-Dec-11 Weighting by 20-Apr-12 Outstanding Vol 06-Jul-12

25.74 45.41

0.00/16.00

Weighting by Mkt 0.00/16.50 Value

0.00/16.50

28.23 48.88

672.39

932.07

28.85

22.89

2,937.59

3,230.54

100.00

100.00

112.22 Bucket Weighting 116.70 66.49

0.26

297.52 0.45 0.29 299.31 1.00

Maturity Date

03-Apr-17 08-Dec-16

% Exposure_ 19-Apr-17 Mod_Duration

06-Jul-17

12.37 44.10

Avg. Life/TTM (Yrs)

0.86 1.29 Implied 1.65 Yield 1.87

# Risk Premium (%)

2.94 1.00

Implied Portfolio2.66 Price

3.13

15.73

128.8660

15.77

123.5688

18.53 16.58 INDEX 18.37 18.87

99.01 99.28

YTD Return 103.09 (%)

98.53

1,172.38

5.8251

1,071.27

5.7967

43.54

15.57

91.7128

1,105.69

9.7989

100.00

15.68

115.7411

1,102.16

4.4517

Sub-National Bonds A/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

0.02

4.44

20.15

99.87

A-/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

2.16

30-Sep-15

0.10

3.23

18.92

99.37

BBB+/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

2.60

30-Jun-16

0.60

4.46

20.33

96.54

A/Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

3.96

30-Jun-16

0.61

3.48

19.34

97.83

A+/Agusto; ‡ /GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

1.65

1.00

16.71

90.61

‡ /Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

21.24

30-Jun-17

1.14

1.00

16.50

97.23

A-/Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

2.35

1.79

17.55

93.34

‡ /Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

30.81

30-Sep-18

1.74

1.00

16.72

96.16

40 News Adesina Wahab Ado-Ekiti

T

he National Universities Commission (NUC) yesterday said it was not out to witchhunt universities in the country, but to regulate their activities for optimal performance.

The leader of the NUC delegation to the Federal University, OyeEkiti, Prof Irene Agunloye, said this yesterday during a visit to the university for the assessment of its facilities for possible accreditation of some courses in the institution.

The Vice Chancellor, Prof Isaac Asuzu, who received the delegation, said that the institution was seeking accreditation of 29 out of the present 30 courses being offered in the institution.

Agunloye, a Professor of African Literature and Women Studies at the University of Jos, Plateau State, had while addressing the university’s management said : “We are not here to witch-hunt you, but to carry out on the spot assessment of your facilities. Probably at the end of the day, we

SOUTH-WEST

We are not witch-hunting varsities, only regulating –NUC will be able to come up with recommendations that will improve your facilities”, she said.

The NUC delegation are in the institution to assess courses in the Humanities, while a Professor of Microbiol-

ogy from the Obafemi Awolowo University, Ile-Ife, Osun State, Prof.

J.I. Muoghalu, led the delegation to assess courses in the Faculty of Sciences.

Asuzu, who assured the delegation of ad-

Ado-Ekiti

A

s the opposition Peoples Democratic Party (PDP) embarks on restructuring, Ekiti State Governor, Ayo Fayose, has expressed the position that the national chairmanship of the party be ceded to the South-West zone of the country.

This was expressed on the heels of the former Minister of Federal Capital Territory, Alhaji Bala Mohammed, visit to Ado-Ekiti, apparently to consult on his ambition to emerge as the next national chairman of the party.

equate cooperation, exude confidence that all the courses would be accredited, in view of the facilities that have been put in place.

The Professor of Pharmacology and Veterinary Medicine, urged

the Federal Government to increase funding to the university, describing it as the most financially challenged out of the 12 of such universities established in 2011 by former President Jonathan.

L-R: Chief (Mrs.) Titilola Koleoso; Ogun State Deputy Governor, Chief (Mrs.) Yetunde Onanuga; Primate of the African Church, Emmanuel Udofia; his wife, Lady Ene; Bishop Ebenezer Okunowo and former President, Chief Olusegun Obasanjo, at the investiture of Archbishops of the African Church at the African Church Cathedral, Bethel, Lagos

Fayose wants PDP chairmanship ceded to S’West Adesina Wahab

TUESDAY,AUGUST 25, 2015 NEW TELEGRAPH

Speaking yesterday when Mohammed paid him a private visit, the governor said since the South-West and SouthSouth had previously produced the President of the country, the North was supposed to produce the next presidential candidate of the party.

According to him, the North would not be able to produce both the presidential candidate as well as the national chairman of the party at the same time.

Fayose also opined that the time was not right for the party to have a substantive chairman and that the present care-taker chairman, Mr. Uche Secondus, should

be allowed to pilot the affairs of the party for the next five months, to enable him conclude the ongoing restructuring of the party.

Fayose said: “It is a normal thing to have ambition. It’s a good development but in my opinion, I think the party needs the caretaker committee now rather than a substantive chairman.

The ex-minister, who was in Ekiti in company with Ambassador Liya Damagon and Ahmed Gulak, former Special Adviser on Political Matters to Ex-President Goodluck Jonathan, met with Governor Fayose behind closed door.

No more automatic promotion for magistrates –Ogun CJ Kunle Olayeni Abeokuta

T

he Ogun State Chief Judge, Justice Olatokunbo Olopade, yesterday declared that there would be no more automatic promotion for magistrates and judicial officers in the state judiciary.

Olapade stated that elevation or promotion of judicial workers would henceforth be based only on good performance at competitive promotion examinations and intensive interviews.

She stated this in her keynote address at the opening of the refresher course for magistrates and judicial assistants and training for secretaries, court registrars, process clerks and bailiffs of the Ogun State judiciary held in Abeokuta.

The event organised in collaboration with the National Judicial Institute, Abuja, had no fewer than 32 magistrates, 25 judicial assistants, 17 secretaries, 20 court registrars, 20 process clerks and 18 bailiffs registered for the programme.

Lagos warns against imminent flood lUrges residents to vacate flood-prone areas Muritala Ayinla

L

agos State Government yesterday urged residents of the state living in the coastal and low lines areas to vacate their residences temporarily, following the imminent flooding that would be witnessed in the current wet season as a result of the opening of the Lagco Dam in Cameroon.

The gover nment warned that the possible consequences of the release of water from the Dam in Cameroon and its attendant effect on the coastal waters and the wetlands might be

much, appealing to the residents to be safety conscious always and embrace proper waste management.

The Permanent Secretary, Ministry of the Environment, Mr. Oluwatoyin Onisarotu, who gave the warning, said that the warning became necessary based on the outcome of the recent 2015 Flood Management Stakeholders Roundtable Meeting organized by the Federal Ministry of Environment in Abuja, where preparations were made for the forecast of the 2015 flood management strategies.

Onisarotu hinted that

it was also revealed at the Abuja meeting that the release of water from the Lagco Dam might cause flooding that will affect the Benue River Basin and states like Adamawa and the Niger-Delta amongst others.

Noting that that the state government was committed to ensuring that several flood mitigating measures put in place were fully deployed to ensure minimal impact on residents who might be affected by the rising water levels, Onisarotu urged residents to cooperate with the government in ensuring a flood-free Lagos.

UCH tasks N’Assembly on fight against cancer in women Mimiko to deal with staff indicted by verification Sola Adeyemo Ibadan

T

he Chief Medical Director (CMD) of the University College Hospital (UCH), Ibadan, Professor Temitope Alonge, yesterday appealed to wealthy Nigerians including politicians to assist in the current efforts at curtailing spread of cancer among Nigerian women.

Speaking with journalists shortly after the opening session of one-week international

scientific seminar on cancer holding at the hospital, Alonge pointed out that necessary enlightenment, diagnosis and treatment of the disease required joint efforts of all, to reduce the disease in the country.

The seminar which has as its theme: “The role of Pathologists in Oncologic Diagnosis and Management”, was organised by the West African Division International Academy of Pathology (WADIAP) in conjunction with United States and Canadian Academy of

Pathology, Friends of Africa and AORTIC. According to Alonge, funding remains key in the diagnosis and treatment of cancer especially among women, maintaining that in as much as the UCH and its medical personnel were ready enlighten people on the disease and offer the best treatment for those already with the disease wherever they may be in the country, she said enjoined wealthy individuals and politicians to offer assistance to reduce the scourge particularly among women.

T

he Ondo State Governor, Dr Olusegun Mimiko, yesterday said that anybody found to be criminally liable in the on-going staff verification exercise in the state would face the wrath of the law. Mimiko stated this during an unscheduled inspection visit to Oyemekun and C.A.C Grammar Schools both in Akure, the state capital, where the exercise was being conducted.

He noted that the verification process would afford government the opportunity to clean up its payroll

and eradicate sharp practices which are detrimental to the government and the people of the state.

Mimiko, who explained that there are shortcomings in the electronic data capturing system in the state, said that the on-going exercise would clean up the payroll system and make some savings for government.

Submitting that over 80 per cent of tax payers in the state are public servants, the governor appealed to all eligible tax payers in the state to exercise their civic responsibilities by paying

their taxes and other levies so that his administration could continue to provide social services to the people.

The governor commended teachers for the support given to government officials assigned for the exercise which according to him has aided its smooth process.

He added that his administration has embarked on financial engineering which he said has assisted the state government to continue to pay workers salaries and fulfil other responsibilities.

NEW TELEGRAPH tuesday, august 25, 2015

Okorocha seeks S' East governors' cooperation with FG Steve Uzoechi OWERRI

I

mo State Governor and the chairman of the APC Governors’ Forum, Rochas Okorocha has urged the governors and leaders of the South-East zone to unite and cooperate with the President Muhammadu Buhari’s led Federal Government to enable the zone benefit from the Federal Government presence in terms of infrastructure.

Speaking at the Sam Mbakwe Airport in Owerri, on arrival from Abuja yesterday, Okorocha, stressed that as the only APC governor in the southEast, he cannot do it alone and he can only do little in establishing a very strong relationship between the SouthEast governors, leaders and the APC led Federal Government, necessitating his call for every governor and leader in the South-East to unite and be carried along.

Igbeaku Orji Umuahia

T

he Abia State chapter of the Nigeria Union of Pensioners, has called on the state government to implement without further delay the Federal Government's approved increment for pensioners, saying that a situation where pensioner who retired 15 years ago still earn as low as N465 was inhuman and deplorable.

In this regard the union wants the state government to pay its members the 6 per cent,

News 41

south-east

Abia pensioners demand FG's scale of payment 15 per cent and the 33 per cent increase approved by the Federal Government in recent times.

The demand was part of the communiqué issued at end of the Union’s August 2015, meeting in Umuahia, where it also called on the state government to pay every retiree within 30 days of retirement.

The pensioners, how-

ever, lauded Governor Okezie Ikpeazu’s concern for the plight of its members and urged him to also implement their demands. The retirees also commended what it called the governor’s style of leadership which it said would take the state to prosperity.

They said in the communiqué signed by the

chairman, Comrade C N Udensi and Secretary, Elder O C Arungwa, that the governor has shown particular concern as well as recognized that pensioners have been suffering, but viewed with seriousness the huge arrears of pensions owed them in the state, and urged the governor to liquidate it.

They also frowned at

the staggered payment of monthly pensions to Abia pensioners and urged government to take an urgent step to stop it.

They, however, called on the government to investigate all levels of pension managers in Abia State with a view to reassigning defaulting ones to other ministries and departments.

L-R: Wife of Managing Director, Mrs. Clementine Vervelde; Managing Director, Nigerian Breweries, Mr. Nicolaas Vervelde; winner of Gulder Ultimate NCP 2015, Sir Chuka Nnabuife, receiving a Honda saloon car key from the representative of the Enugu State Governor, Commissioner for Conmerce and Industry, Mr. Sam Nwabodo; Sales Director NB, Mr. Hubert Eze and Corporate Affairs Adviser, Mr. Kufre Ekannem, during the Gulder Ultimate Promo at Micheal Opara Square, Enugu State

PHOTO: SULEIMAN HUSAINI

Enugu, Rotary Club partner Appeal Court reserves ruling in Imo guber poll al Electoral Commission the first place was over- team including Chief on child’s health project Steve Uzoechi (INEC) from being joined ruled by the tribunal for Nnawuchi SAN, prayed Onyekachi Eze ABUJA

W

orried by high maternal mortality rate in the country, the Rotary Club of Trans-Ekulu in Enugu is partnering with the Enugu State Government and the Catholic Church to implement a two-year maternal and child health project in five selected hospitals in Enugu State.

The club in collaboration with Fresenius Foundation Germany and the Rotary Foundation in the United States of America, have donated several medical equipment, instruments and consumables along holding training sessions for medical personnel in these hospitals.

Project Chairman of Rotary Club of TransEkulu, Chief Eric Igweshi, said in a statement yesterday that the club was worried with high maternal mortality rate in the country, which he said stood at 545 per 100,000, as at 2003.

According to him, the intervention of the club

was a mission to reverse the trend, adding that 24 medical doctors and nurses were trained on hospital delivery while 12 doctors were trained in operative deliveries and 24 others in emergency obstetrics.

Igweshi said before the implementation of the project, a survey was conducted to ascertain the readiness and cooperation of the stakeholders especially the host communities and the state ministry of health, and a memorandum of understanding was developed and signed with the parties concerned.

The Enugu State Governor was represented at the presentation of the medical equipment, by the Commissioner for Health, Dr. George Eze. Some of the equipment donated to the hospitals, include Anesthetic machines, theatre beds, theatre lights, delivery beds, ultrasound machines, baby uincubators, cardiocotograph machines, 20KVA power generators, refrigerators, surgical instruments, medicines and other consumables.

OWERRI

T

he Appeal Court sitting in Owerri, the Imo state capital has reserved ruling in the appeal sought by the Peoples Democratic Party (PDP) governorship candidate, Hon. Emeka Ihedioha, against the ruling of the tribunal giving in favour of Governor Rochas Okorocha, just as it dismissed the application of the Independent Nation-

as a party in the proceeding.

Ihedioha had appealed the decision of the state election petition tribunal in dismissing his petition, challenging the election of Governor Rochas Okorocha.

His counsel, Chief Mike Ahamba (SAN) had objected the application of Counsel to INEC, D.O. Agbo, on the grounds that the second INEC was in

Obi advises CBN on monetary policies

T

he former Governor of Anambra State, Mr. Peter Obi, has called on the Central Bank (CBN) to re-consider some of the recent monetary policies, especially those he said their adverse effects outweighed their positive impacts.

Obi was speaking to journalists during the ordination of the 2015 set of priests by the Awka Diocese of St. Patrick’s Cathedral, Awka, at the weekend.

While appreciating the motives behind some of the recent regulations, Obi, said that the issue of domiciliary account need-

ed to the re-considered as it would be hurting the economy due to its effects on small and medium scale businesses, which he noted were the biggest employers of labour in the country.

He insisted that any policy not favourable to small and medium scale businesses both in short and long terms should be re-examined, especially now that one of the biggest problems Nigeria is facing is that of unemployment. “Besides”, he said, “those small and medium businesses are pivotal to the fight against extreme poverty.”

not responding on time to the petition.

Agbo had applied for extension of time to enable him file his briefs of argument in the appeal.

In his ruling, the Appeal Court dismissed the INEC's application as lacking in merit as well as a ploy to delay the substantive case.

In his submission at the hearing, Chief Ahamba, who appeared with his

the Court to assume jurisdiction on the applications that were not determined by the tribunal to avoid unnecessary delay.

Citing several authorities, Chief Ahamba argued that the primary purpose of Governor Rochas Okorocha in the case is to frustrate the matter from being heard and conclusively determined and prayed the court to act in line with justice and fairness.

Group tasks Buhari on announcement of cabinet Oye Ogunwale

A

n Igbo group, Enugu People’s Mandate has called on President Muhammadu Buhari, to announce his cabinet rather than keeping Nigerians guessing over the issue.

In a statement in Lagos yesterday, the President of the Group, Mr. Patrick Mba, told President Buhari that the mandate given him

by Nigerians in the last presidential poll covers 48 calendar months, but

his (Buhari’s) administration has spent about three months in what he called the elusive search for suitable people to be appointed as ministers.

According to Mba who is also the Vice President-General of Igbo-Speaking Community in Lagos State, “today Nigerians are already feeling disappointed, having waited endlessly for dividends of democracy. And many questions are being asked and begging for answers.”

42 News

south-south

tuesday, august 25, 2015 NEW TELEGRAPH

Ogoni youths protest implementation of UNEP programme Emmanuel Masha Port Harcourt

P

rotesting Ogoni youths yesterday blocked the busy East-West road in the Niger Delta protesting the implementation of the United Nations Environmental Programme (UNEP) report by President Muhammadu Buhari, saying their people have been left in the dark over the implementation.

The protesters, who started gathering at the axis of the Port Harcourt Refinery, Indorama Petrochemicals and the Onne Free Trade Zone, lamented that all they have been getting on the UNEP report implementation are empty promises.

They said there cannot be a thorough implementation without the involvement of locals, insisting that they won’t allow officials access to the affected areas if not carried along.

l MOSOP calls protesters anti-Ogoni The protesters, who acted under the umbrella of the Ogoni Central Indigenous Authority, urged President Buhari to include them in the dialogue over the implementation, warning that they were ready to sustain a long protest if not carried along.

The Coordinator of the protest, Dumbari Boodam, said they were protesting on behalf of

their leader, Dr. Goodluck Diigbo and noted that the Movement for the Survival of the Ogoni People (MOSOP) was not working in the interest of Ogoni people.

According to Boodam, MOSOP was playing politics with the UNEP report and as such cannot be acting on behalf of the people.

“We want to be carried along in the process

of the implementation of UNEP report. Failure by the President Muhammadu Buhari government to carry the group along will cause problem in Ogoniland. As far as we are concerned, MOSOP is not working in the interest of Ogoni people,” he said.

But MOSOP, which condemned the protest, said the protesters cannot be working for the people of Ogoni, because they are

unknown and faceless.

Speaking through Mr. Bari-ara Kpalap, spokesman of MOSOP President, Legborsi Pyagbara, urged the people of Ogoni to disregard the protesters, because they were working against Ogoniland.

He said: “Reports available to MOSOP have revealed that the demonstrators mischievously claimed that they were protesting exclusion from the UNEP report implementation process.

Obudu residents kick against epileptic power supply Clement James Calabar

R

PDP passes confidence vote on Okowa, Ibori Gabriel Choba Ughelli

T

he Peoples Democratic Party (PDP) in Ethiope West, Delta State, yesterday passed a vote of confidence on Delta State, Governor Ifeanyi Okowa and Chief James Onanefe Ibori, a former governor in the state.

The motion for the vote of confidence, which was moved by the Executive Assistant to the Governor on Political Matters, Hon. Chris Onogba and was seconded

by Hon. Daniel Afi, Secretary, PDP Ethiope West.

They said the confidence vote came about as a result of their leadership qualities and immense contribution to the overall development of the state, which was supported by over 2, 000 party faithful present at the meeting held at the residence of Chief William Makinde, a former PDP national treasurer.

L-R: Anambra State Governor, Chief Willie Obaino; his Delta State counterpart, Ifeanyi Okowa and Speaker, Delta State House of Assembly, Rt. Hon. Monday Igbuya, at the South East/Delta State Security Conference 2015, held at the Governor’s Lodge, Amawbia, Anambra State.

Cajetan Mmuta BENIN

T

he leadership of the All Progressives Congress (APC) in Edo State yesterday flayed members of the opposition Peoples Democratic Party (PDP), who it said are bent on pulling down Governor Adams Oshiomhole.

The Publicity Secretary of the APC, Comrade Godwin Erahon, in a statement made available to newsmen in Benin, described the PDP as enemies, who see nothing good in Oshiomhole, ‘for daring to succeed where they failed.’

He said: “APC is particularly encouraged to serve Edo State better by the mass rebuke of PDP over its recent opposition

APC flays PDP over alleged plot to pull down Oshiomhole to the Senate approval of the World Bank loan for Edo State government.”

Erhahon frowned on the action of the senator representing Edo South senatorial district in the National Assembly, for speaking against the $75m World Bank loan approved recently for the state by the Senate.

According to him, Senator Matthew Urhoghide could not identify with Bini people at their trying moment, when he spoke as advocate of enemies of the Bini on the floor of the Senate over the loan.

He said: “We trust

Delta councillors drop impeachment notice Dominic Adewole ASABA

T

he Chairperson of Ndokwa East Local Government Area of Delta State, Mrs. Nkechi Chukwurah, yesterday heaved a sigh of relief as councillors in the council area finally dropped the allegation of impeachment against her.

The chairperson was ac-

“We condemn the action and reject the reason adduced, which smacks of desperation. Insofar as we are concerned, the protesters and their sponsors, who have earlier declared an unrecognised ‘Ogoni self-government’ are drowned in ignorance and dubiously seeking relevance and should be discountenanced.

“Negotiation, we all know, is always done on representative capacity and not by the entire community, organisation or institution."

cused of gross abuse of legislative process by hiding the monthly income and expenditure of the council since October last year.

The councillors in a motion by the Minority Leader, Godstime Egworalor, representing Ward 19, on the platform of the Social Democratic Party (SDP) and seconded by the Majority Leader, Olise Uzorka, of the Peoples Democratic

Party (PDP), called on the council boss to furnish them with the financial status of the local government within six days.

But before the stipulated period, hundreds of protesters, including political and community leaders, elders, women and youths and some of the councillors, besieged the state’s House of Assembly, calling for her removal.

that the good people of Edo State will continue to support and protect the governor even after he ceases to be governor, because it is now certain that those who hate his good work will continue to hunt him. But God will never allow the devil to prevail against his own.”

The APC added that; “Those traitors and fair weather friends who may be poised to join enemies against Oshiomhole when his tenure expires are advised to study how the lives of beneficiaries of the late Prof. Ambrose Alli’s administration of the UPN fame, who later

betrayed him, ended in regret, shame and sham.”

Erhahon pointed out that; “Experience has thought us that those who betrayed their benefactors always end up in regret and humiliation.”

The statement said in part: “Whoever thought that God does not heed the prayers of the just should watch the current travails of Edo State PDP Chairman, Chief Dan Orbih, who now lacks fingers to scratch his itching skin as he butchered the rotten meat assigned to him by nemesis.”

esidents of Obudu in Obudu Local Government Area of Cross River State have protested the poor supply of electricity to the area by the Port Harcourt Electricity Distribution Company (PHEDC).

Numbering about one thousand, the protesters carried placards with varying inscriptions, expressing their grievances and marched through major streets of Obudu town to the local government secretariat.

A spokesman of the group, Emmanuel Obuah, told newsmen that the protest was fuelled by pent up frustration by the people, who are being forced to live in darkness and are made to pay high tariff by the PHEDC. He said they have been complaining about irregular power supply and continuous use of arbitrary estimated billing system that makes people to pay for power they did not enjoy, but that they have been ignored.

The protesters said sometimes the area will not have electricity supply for weeks, only for power to be supplied briefly with accompanying high bills.

When that happens those who cannot afford to pay the bills are disconnected.

MASSOB demands for Biafra’s actualisation Dominic Adewole ASABA

M

embers of the Movement for the Actualisation of the Sovereign State of Biafra (MASSOB) yesterday took to the streets of Asaba, the Delta State capital, demanding for the actualisation of Biafra.

Distributing fliers to

motorists and passers-by, the protesters, who were chanting Biafran freedom songs, said they were out to sensitise Asaba populace on the need to join forces to realise the objective.

The fliers contains the website addresses of the leaders of the group, their hot lines and invites sympathisers to fellowship with the Indigenous People

Of Biafra (IPOB), Asaba Zone at Oneh Primary School, in the capital city.

The protesters, numbering over 200, caused traffic jam along the popular Nnebisi Road and disrupted commercial activities as bystanders were deeply carried away by the uniformity with which they occupied the double lanes of the road and their pavements.

NEW TELEGRAPH TUESDAY,AUGUST 25, 2015

Kaduna DISCO assures Sokoto zone of regular electricity Umar Abdullahi Sokoto

K

aduna Electricity Distribution Company (KEDC) yesterday assured the people in its service area that it would provide 24-hour electricity to the people.

The organisation said it will ensure uninterrupted power supply to its inherited 300, 000 electricity clients within the four states of its jurisdiction.

The Managing Director of the company,

Garba Haruna, spoke yesterday at the commencement of a threeday training of newly recruited staff of the company, held at the Sultan Maccido Institute of Quranic Recitation and General Studies, Sokoto.

Haruna, who was represented by Bello A. Musa, also charged the newly recruited staff of the company to be proactive and to provide solutions to the current power outages caused by the former NEPA/ PHCN, which is presently being experienced in the region.

News 43

NORTH

He said the company recruited 3, 000 workers to manage the district, which he said comprises Kaduna, Zamfara, Sokoto and Kebbi States and would from next month start a monthly distribution of no fewer than 1, 000 prepaid electricity meters free to the customers within the region, so as to enable people enjoy constant power supply.

Haruna said the company decided to engage as many as 3, 000 workers which included newly recruited ones and those the company

inherited from the old NEPA/PHCN to make the training robust and to acquaint them with the challenges the organisation is facing.

He said the training also involved how the workers can contribute their quota in addressing the severe power issues bedevilling the states, adding that the training exercise was also aimed at strengthening manpower, refreshing and introducing new method of discharging their enormous tasks at their respective designations.

Buhari’s wife, govs, others for Idoko memorial lecture Cephas Iorhemen MAKURDI

W

ife of the President, Mrs. Aisha Muhammadu Buhari, Kogi State Governor, Idris Wada and his Benue State counterpart, Samuel Ortom, are among top personalities expected to honour the first memorial lecture in honour of late Justice Alhassan Idoko, slated for Saturday, September 5, in Makurdi, the Benue State capital.

The President’s wife is expected to be the distinguished guest of honour at the occasion, with the Kogi State Chief Judge, Justice Nasir Ajanah, as the chairman of the occasion, while Governors Ortom and Wada are special guests of honour.

Briefing journalists in Makurdi yesterday to herald the historic event, late Justice Idoko’s widow, Mrs. Lydia Idoko, said two former governors of the state,

George Akume and Gabriel Suswam, would be distinguished guests, with Justice John Tsoho, of the Federal High Court, Abuja, presenting a paper on the life and times of the late legal luminary.

She said Justice Ejembi Eko, of the Federal Court of Appeal, would deliver a lecture on “Justice, Equity and the Rule of Law, God’s Heartbeat,” while Justice Ada Onum would speak on “The Judiciary as the Last Hope of the Common Man.” Idoko said the memorial lecture, which has as its theme: “Judges Are ‘gods’ In The Affairs Of Men,” would witness the launching of two books entitled “The Power of Persistence” and “Enjoy Godly Peace by Been Godly.”

She described her husband as a great legal luminary, who contributed immensely in taking the judiciary in the country to enviable heights.

Stakeholders worry over prolonged strike by FMC doctors Cheke Emmanuel LAFIA

T L-R: Director, Executive Secretary Office, Mallam Aliyu Na’iya; Executive Secretary, Tertiary Education Trust Fund (TETFUND), Prof. Suleiman Bogoro and Taraba State Governor, Mr. Darius Dickson Ishaku, during the governor’s visit to Tetfund’s corporate headquarters in Abuja…at the weekend

PHOTO: ELIJAH OLALUYI

Don’t destroy power shift, group urges Okun aspirants A

political group, Okun Democratic Movement, at the weekend, urged aspirants from Okun land in Kogi West area of Kogi State not to allow their personal ambition to destroy the power shift arrangement by the leaders of the area.

The movement in a press statement signed by it General Secretary, Chief Kayode Bamidele Ariyo, insisted that there

can never be power shift in the state, if aspirants from Okun land or any place within the Central and West, continue to settle down for deputy governor from the eastern part of the state.

“Some of our aspirants in Okun land are into this race to woo delegates for an Igala aspirant in the name of becoming a running mate. We say no this time around, we won’t

allow this to continue.

If their aspiration is to end up becoming deputy governor to an Igala man, they should please not to turn our delegates to traitors like they are.

“We have already accepted the report and result of the screening committee on equity, fairess and justice, in which Alhaji Suleiman Baba Ali emerged first.

We don’t care whether

he is from the minority of the West or not, but what we care about is to get this power to the West and Central.

Ariyo expressed disappointment that some aspirants, who have refused to realise the fact that power will shift this time around, “they either join the moving train or stay away, because no delegate is ready to fall their prey again,” he said.

Customs boss urged to clear mess left by predecessor Muhammad Kabir Kano

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ew Customs boss, Dr John Atte, has been called upon to clear the mess left by his predecessor to reposition the organisation for greater performance.

Making the call yesterday was the business community in the

northern part of the country that is calling on the new customs helmsman to break the alleged marriage of convenience between the service and some few business people, who are out to sabotage the economy.

Speaking to newsmen in Kano, the immediate past President of the Nigeria Traders Asso-

ciation, who is also the leader of the Northern Stars Clearance and Forwarding Agency, Dr Bature AbdulAziz, alleged that the group have today, hold not only north, but the entire nation, by its jugular.

AbdulAziz said for quite a long time, the business community in the north was neglected and businesses left to

wallow in destitution while these few businessmen control what happens in the region.

He said the north no doubt have the potential of giving the country trillions of naira in revenue, but that because of the connivance of customs officers and these few people, the country had been shortchanged in the past.

he Keffi Development Foundation and other stakeholders have expressed displeasure over the prolong strike embarked upon by resident doctors at the Federal Medical Centre, Keffi, Nasarawa State.

Doctors at the medical centre have been on strike for the past five months over the demand for the implementation of the skipping salary grade and relativity allowances.

In a statement signed by the Vice-Chairman and Secretary General of the foundation, Lawal Maizabo and Abubakar Sadiq respectively and made available to New Telegraph, the stakeholders regretted that the strike is

causing untold hardship to the immediate community and other Nigerians residing in Keffi and its environs.

The statement lamented the prolong strike by resident doctors, calling on the Federal Government to hasten moves to end the strike in the interest of the sick ones.

It added that several attempts were made in the past by the Keffi Emirate Council and the Keffi Development Foundation to resolve the impasse between the management of the centre and the resident doctors, but to no avail, noting that the continued strike by the doctors is against the spirit of human sympathy, love, concern and care for the sickly as expected in the ethics of the medical profession.

Reps out with blueprint for industrial revival Muhammad Kabir Kano

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oncerned by the dwindling fortune of the nation’s industrial sector, the House of Representatives has rolled out a blueprint that would help revive the sector, including revisiting the controversial export Expansion Grant Programme (EEG).

Speaking while inspecting one of the ternary that benefitted from the programme, Kano Unique

Leather Ternary, a member of the House of Representatives representing Kano municipality, Dr Nuhu Abubakar Damburam, said now that peace is gradually returning to the northern part of the country, something should be done to help industries in the region grow.

Damburam agreed that the EEG programme was abused by some industries, who rather than use it to expand their businesses, the fact remains that some managed their funds to improve production in their factories.

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AFCON 2016: Invitation of 18 foreign stars worries NFF

Move to Chelsea not about money – Pedro

Sport

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Federer replaces Murray as world No 2

Did you know?

That the official name for boxing is Pugilism which, when defined properly, means: ‘The skill, practice, and sport of fighting with the fists.’

I won’t focus on formation – Oliseh S Ifeanyi Ibeh

uper Eagles coach, Sunday Oliseh, is not in the least concerned about what formation to deploy when his side files out against Tanzania on September 5, as well as in subsequent games.

Immediate past coach of the Super Eagles, Stephen Keshi, often deployed a 4-3-3 system when not using Nigeria’s traditional 4-4-2 formation. But Oliseh, who thrived in the holding midfield role under Clemens Westerhof ’s favoured 4-4-2 system, believes success does not come from the formation adopted but from how the players are able to “animate the system.”

Speaking on SuperSport’s Monday Night Football, Oliseh said: “In the past we had (Rashidi) Yekini playing upfront, (Emmanuel) Amunike coming from the left, (George) Finidi or (Tijani) Babangida coming from the right, and Daniel (Amokachi) supporting them, while Jay-Jay (Okocha) and I came in from the middle.

“We came at the opposition with so much force, so how were they going to stop our system? There was also (Ben) Iroha coming in from the rear, so we were attacking together and defending together, and we had individual talent that made it work.”

The abovementioned play-

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

ers were all part of Westerhof ’s immensely talented squad that was only a few seconds away from advancing to the quarterfinals of the 1994 World Cup before succumbing to the Italians in the second round.

The squad is generally regarded as Nigeria’s best ever, and asked how the Super Eagles can emulate the feat of the 1994 side, Oliseh said: “The team of 1994 had something we had previously not seen before.

We had not only talent but we were a team. Don’t forget that the team of 1994 actually started taking shape as far back as 1989 when Clemens Westerhof came in and we started getting to the semi-finals and finals of the Africa Cup of Nations until we won in 1994.

“As at that time also our players played in some of the top European leagues. Those players were exceptional because at the time we had this rule in place in Europe that allowed only three foreigners in a team but we still had our players featuring for these clubs.

“Now, because of certain rules that have been set out internationally, this makes it indirectly more difficult for our players to branch into the top clubs because the top clubs would only buy players who are doing very well in their national teams because don’t forget that the managers and the directors of such clubs have to defend the reason they are bringing in any player. And if a player hasn’t done so well with his national team it makes it more difficult. And that has made it quite difficult for our

players to get into these clubs.

“There are so many other factors but what I am trying to do is to introduce team play

into the squad so that the value of each player will rise with playing together as a team. We want the players to know what

we require from them and for their teammates to know it too so that they can complement one another.”

Nigeria’s John Obi Mikel and France’s Paul Pogba tussle for the ball during the 2014 World Cup

100m: Golden Fraser-Pryce laments timing

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ouble-Olympic champion Shelly-Ann Fraser-Pryce continued the Jamaican sprint dominance at the Bird’s Nest as she retained her world 100m title in blistering fashion at the World Championships.

Twenty four hours on from Usain Bolt’s triumph in the men’s 100m, Fraser-Pryce repeated her Olympic victory in this same stadium seven years ago as she held off the fast-finishing Dafne Schippers in 10.76 seconds.

It was however a disappointing outing for Nigeria’s Blessing Okagbare who finished 8th

l Okagbare finishes 8th because she took off late from the blocks. Okagbare who recorded 10.89secs in the semis finished with 11.02 in the final.

For Schippers - the former heptathlete who only decided to switch full-time to sprinting in June this year - her silver in a huge personal best of 10.81 brought both vindication and wild celebration.

USA’s Tori Bowie took bronze in 10.86, but as in 2008 this was the Fraser-Pryce show.

Just as her compatriot Bolt is the undisputed greatest sprinter the world has seen, so the 28-year-old can lay claim to the same title: twice Olympic champion over 100m, world champion three times over that distance and both world and Olympic titles over 200m too.

With her long plaits dyed green and a headband of daisies around her forehead [she owns a beauty parlour in her country’s capital, Kingston]

Fraser-Pryce did not get her trademark explosive start.

Schippers was out faster, but by 50m the Jamaican had opened up a two-metre lead over the tall Dutch athlete, and although Schippers was closing at the death, she had enough to hold her lead through the line.

“I’m getting tired of 10.7s. I just want to put a good race together and hopefully in the next race I get the time I’m working for,” Fraser-Pryce told BBC Sport.

“I definitely think a 10.6 is there. Hopefully I will get it together.”

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D’Tigers get Wednesday date with Mozambique Ifeanyi Ibeh

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igeria’s D’Tigers will next take on Mozambique in the first knockout round of the ongoing AfroBasket 2015 championship in Tunisia after the Mozambicans defeated Morocco 85-82 on Monday to set up a Wednesday date with the Nigerians.

The William Voigtcoached D’Tigers finished second in Group A behind hosts Tunisia after suffering their first loss of the tournament in Sunday’s 70-59

defeat to the North Africans.

The Mozambicans, on their part, staged a spirited fight back to defeat the Moroccans on Monday to record their first win of AfroBasket 2015 after losing their opening two games to Senegal and Angola.

The winner of Wednesday’s second round clash between Nigeria and Mozambique will take on the winner of the matchup between Cape Verde and Gabon in the quarterfinals on Thursday. The Cape Verdeans finished top of Group D with a perfect record of three wins from three

after victories over Algeria, Cote d’Ivoire and Zimbabwe.

Morocco, meanwhile, will take on North African rivals Tunisia on Tuesday in the Round of 16 to determine who progresses to the tournament’s last eight.

The winner of AfroBasket 2015 will secure an automatic ticket to next year’s summer Olympics in Rio de Janeiro.

Nigeria and Tunisia flew Africa’s flag at the London 2012 Olympics with D’Tigers placing 10th at the end of the competition, while Tunisia finished in 11th place.

Ndanusa backs tennis stars to shine at AAG Adeolu Johnson ABUJA

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he President of the Nigeria Tennis Federation, Sani Ndanusa, has said the country’s tennis representatives at the forthcoming All Africa Games in Brazzaville, Congo, will make a huge impact at the Games.

He explained that the players would have a wonderful outing because of

their current level of fitness.

Ndanusa said the players were in top form judging by their performance at the ongoing national tennis league sponsored by the Nigerian Communications Commission.

“The players are now kept busy every month unlike in the past when they were rusty. The players are no longer tournament rusty and I thank the NCC for this development,” he said.

The NTF boss said any player who lost form before the All Africa Games would be shown the way out.

He thanked the NCC for adding value to the NTF’s calendar and called on other corporate bodies to emulate the communications sector regulator.

“The players have improved their quality of play with this tourney and we hope to see more improvement in the second year,” he said.

Grow up, Ogba slams Mikel Charles Ogundiya

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ormer vice president of the Nigeria Football Federation, Obinna Ogba, has slammed Super Eagles midfielder, Mikel Obi, for his lack of maturity and commitment to national duty.

The Chelsea midfielder has again come under criticism after Head Coach, Sunday Oliseh, said he omitted the midfielder from the team that would face Tanzania in the next 2017 Africa Cup of Nations match in Dar es Salam following his refusal to respond to several phone calls and text messages sent to him.

Ogba says it is sad that Mikel still acts like a little boy rather than grow up at this stage of his career.

“Mikel cannot continue to be a boy, there should be a stage he must become a man, he should by now be a man; he was 10 years ago.

“He should be more mature now and I really want him to sit and think about what is wrong with him, his attitude should have changed by now.”

It would be recalled that Mikel was not invited for Stephen Keshi’s last game in charge of the Super Eagles, the 2-0 victory against Chad after expressing disgust at the attitude of the Chelsea midfielder.

It was same scenario during the reign of Samson Siasia as the coach of the team.

Ogba however said nobody was indispensable while calling on the Eagles handler, Oliseh, to reconsider Mikel if he is ready to change his attitude.

The current member of the upper legislative chamber, the senate said: “I want to appeal to Oliseh, he is in charge now and he should please give him another chance and see if he is ready to turn a new leaf.

“He is one of us and part of Nigerian team, so he should be given another chance to fight for a starting shirt in the national team.”

Ndanusa

Anule Emmanuel ABUJA

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resident Muhammadu Buhari on Monday challenged the National Sports Commission to work towards improving the country’s fortunes in swimming in order to improve Team Nigeria’s chances of leading the medals table at the 2019 All African Games.

The President gave the charge while receiving briefs from the Director General of the NSC, Al-Hassan Yakmut, at the presidential villa, Abuja.

Nigeria Table Tennis Federation Technical Adviser, Martin Adomeit (third from right); Secretary General, NTTF, Chinedu Ezeala-Ogundare (second right), Board Members, Olabanji Oladapo (third from left); Alderson Bankole (second left); Tajudeen Agunbiade (left) and National Coach, Nosiru Bello (extreme right) during the unveiling of Adomeit in Lagos...on Monday.

New TA will propel players to success – NTTF Ajibade Olusesan

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he Nigeria Table Tennis Federation, on Wednesday, unveiled its newly-appointed Technical Adviser, Martin Adomeit, and said the arrival of the German brightened the country’s chances of emerging champions in the event at the 2015 All Africa Games.

Banji Oladapo who represented the NTTF president, Waheed Osodi, at the ceremony said that the federation went for the former national team coach of Germany because of its desire to provide the players with adequate technical support to succeed at the Congo Brazzaville Games.

“We realised that our players needed to have a good coach, quality technical man to train and motivate them, “ the Vice President of the Africa Table Tennis Federation said. “We did not want to hire just anyone, we wanted an individual

that could galvanise the team to success and that is why we went for Adomeit. We all know that he was behind the success of Aruna Quadri whom he helped to get to the top 30 in the world and we want him to replicate that with other players at the All Africa Games.

“If these players know they have a good coach in their corners, it gives them the confidence and encouragement to perform very well.”

Adomeit said he was happy to work with Nigerian players whom he described ‘as very good’ but was non-committal when asked to predict the number of medals his team would win in Congo.

“This is sport, it is difficult to say you are certain to win even before the tournament but we are going to try and do well within the little time we have to work with the players.

It is a team work, we have to show support for one another to achieve result,” he said.

Buhari tasks NSC to focus on swimming Speaking to State House correspondents after leading the President of the Nigeria Football Federation, Amaju Pinnick, and other sports officials to a meeting with President Buhari, Yakmut noted that they had intimated him on activities in the sports sector.

He said: “We briefed Mr. President on sports development in Nigeria and its many social economic values. Mr President was impressed with the presentation but

he raised observation on the need for us to rekindle the exploitation of the medals available in swimming in order to make Nigeria top the All Africa Games table in future and that is actually the presidential observation that we have taken technical interest in to ensure that it is implemented to the letter.

“You know that we also have cultures that are oriented with gymnastics and that culture is the one that we will first of all technically invest

in terms of facilities, coaches and programmes to make sure we compete with other countries in swimming.

He said that the President was commended during the presentation as the Federal Government has remained the highest financier of sports in Nigeria, but added that they also sought for more funding intervention from the private sector and the Nigeria Lottery Trust Fund to complement the Federal Government’s support.

AFCON 2016: Invitation of 18 foreign pros worries NFF Adeolu Johnson ABUJA

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he Nigeria Football Federation is still in confusion over how to raise money to prosecute the Africa Cup of Nations qualifier against Tanzania in Dar es Salaam on September 5.

Insiders in the NFF secretariat hinted that the soccer buffs were not happy that Super Eagles coach Sunday Oliseh presented a “bogus” list of 18 foreign-based pros

to play a team like the Taifa Stars of Tanzania.

Our source wondered where the coach wanted the NFF to get money to buy business class return tickets for 18 foreign-based players for the match.

“If at all they provide return tickets for the Tanzania match, is that how they will be raising money for subsequent matches,” our source queried.

Our source disclosed that they expected Oliseh to invite only a few overseas-based

players for the encounter.

This, our correspondent learnt, informed the presence of Oliseh at the Nigeria Stock Exchange in Lagos to woo sponsors and support.

This was after efforts by the NFF’s president Amaju Pinnick to secure a chattered aircraft for the crucial match between the Under-23 team and their Congolese counterparts in Brazzaville proved futile.

The return tickets plus the fare from Abuja to Dar es

Salaam, as well as the winning bonuses for the players, we learnt is giving the FA top shots sleepless nights.

Pinnick

Sport

NEW TELEGRAPH TUESDAY AUGUST 25, 2015

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Enrique silent on Neymar speculations

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arcelona coach Luis Enrique refused to comment on speculations linking Neymar to Manchester United.

The Brazil international, 23, has been linked with a sensational switch to the Premier League, with United his most likely destination.

Luis Enrique, whose

team claimed a 1-0 win at Athletic Bilbao on Sunday, is disinterested in the reports.

Asked if there had been any contact between the clubs about Neymar, the coach said: “I heard Neymar and another club and I am no longer interested in this question.

“I don’t talk about rumours and this kind of thing. I am just focused on analysing my team.

In perfect English. You got it?”

Neymar, who is contracted until mid-2018, played no part in Barca’s victory as he continues his return following a bout of mumps.

Jovetic revels in dream Inter debut

I Pedro (left) in his debut match for Chelsea

Move to Chelsea not about money – Pedro

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edro has insisted that his decision to leave Barcelona for Chelsea was not motivated by money.

The reigning Premier League champions signed the Spaniard last week for a reported £21.4m fee.

On Sunday, the 28-year-old had an impressive Chelsea debut by scoring the opening goal in a 3-2 victory over

West Bromwich Albion at The Hawthorns.

And on Monday, Pedro, who came through Barcelona’s youth system, returned to the Catalan city to deliver his farewells in front of his former teammates and the media in a press conference.

“I saw it was difficult to continue at Barca and we found a good way out,” Pedro told re-

porters. “I am sad to leave but it’s a good opportunity.

“At first it was strange to wear a shirt that was not Barca’s. I am happy with the new challenge. It was not about money. It was the need to play consistently.”

Pedro fell down the pecking order last season due to the prolific form of Luis Suarez, Neymar and Lionel Messi.

Dani Alves out for a month

B Dani

arcelona will have to make do without the services of Dani Alves for the next month.

The full-back lasted just 19 minutes of Sunday’s 1-0 victory away at Athletic Bilbao before he was forced to limp off with what appeared to be a groin injury.

A subsequent scan has revealed a muscle strain, which according to the club’s official

website will keep Alves sidelined until late September.

However, the statement also confirmed that midfielder Sergio Busquets, who was stretchered off during the second half at the San Mames, has not suffered a serious ankle problem.

Next up for the Catalans is a home encounter against Malaga on Sunday evening.

Shaw tips Man United to overcome Brugge

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uke Shaw insists Manchester United will get back to winning ways against Club Brugge in their Champions League qualifier on Wednesday after their disappointing draw against Newcastle.

United were held to a goalless stalemate against Steve McClaren’s side on Saturday but head to Belgium for their qualifying second leg with a 3-1 lead over the Belgian champions.

“We’ve got a game just around the corner and I think it’s only good for us. We’ll get back up and try to win that game,” the former Southampton defender told www.manutd.com.

“I think it’s the best thing for us, when we feel that we’ve dropped two points. It’s very important that there’s another game and it’s even more important that we try to win it.

“I’m sure we’ll start scoring many goals soon. We’ve got so much quality up front that it’s only a matter of time before someone puts one away and we’ll be flying again.”

Shaw is part of a United backline which has yet to concede a goal in three Premier League outings but said he was disappointed his side did

Shaw (left)

not convert their chances at the weekend, especially during a bright opening. His fellow defender Chris Smalling also hit the post late in the game.

“With the chances we created in the first 20 minutes, I think if we’d put one of those away, it would have been game over for Newcastle,” the England international said.

nter striker Stevan Jovetic was ecstatic with his debut for the Milan club after netting a dramatic winner on Sunday.

Montenegro international Jovetic - a pre-season recruit from Manchester City - sparked scenes of elation on the sidelines with a 94th-minute strike as Inter edged 10-man Atalanta 1-0 in their Serie A opener at San Siro.

Carlos Carmona saw red for Atalanta with 19 minutes remaining in Milan and Jovetic, who came on for injured teammate Mauro Icardi inside the opening 15 minutes, broke the visitors’ stubborn resilience via a curled effort from 18 yards out.

Jovetic was in a buoyant mood post-match and said: “I’m delighted, it was a tough match against an Atalanta side that defended well. We pushed right until the end, and winning at the death like that was fantastic.

“I’m not at 100 per cent yet

Jovetic

but it’s important for strikers to score so I hope to keep it up.

The main thing is that the team has won - the three points are a confidence boost.

“Our goal is to qualify for the Champions League so it was important to start well tonight.

“We still need to get to know each other better, but there’s a tough away match ahead before the international break.”

Federer replaces Murray as world No 2

Federer

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oger Federer has moved up to the second place in the ATP world rankings replacing Andy Murray due to his Cincinnati Masters victory.

Federer beat Murray in the semi-finals then toppled world No 1 Novak Djokovic in Sunday’s final.

That pair of victories, culmi-

nating in capturing the Cincinnati crown, provided Federer with enough ATP points to regain his world No 2 status, overhauling Murray and trailing just Djokovic.

The updated rankings mean that the top two players, Djokovic and Federer, are guaranteed to be drawn in opposite halves of the US Open draw so they can only meet in a potential final. Murray, as third seed, will now be drawn in the same half as either his Serbian or Swiss rivals so could play them earlier in the tournament.

Murray, as a result of reaching the Montreal Masters final prior to Cincinnati, became the world No 2 for the first time since 2013 but that status was short-lived due to Federer’s latest title win.

Liverpool prepare £15m bid for Illarramendi

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iverpool have reportedly upped their pursuit of Real Madrid’s Asier Illarramendi after Rafael Benitez told the midfielder to search for a new club.

The 25-year-old, who has been linked to the Reds on occasion this summer, was not included in Benitez’s squad for Madrid’s goalless draw against Sporting Gijon on the opening weekend of the season on Sunday.

According to Marca, new arrival Mateo Kovacic is ahead of Illarramendi in Benitez’s

Illarramendi

thoughts, which has prompted Liverpool to prepare a £15m bid.

Illarramendi signed for the Spanish giants from Real Sociedad for £23m in 2013.

On Marble

The person whose bag always contains provisions for all; receives the best welcome.

– Kingsley Ogbeide-Ihama

Sanctity of Truth

World Record

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

TUESDAY, AUGUST 25, 2015

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The Pantheon in Rome was built as a temple by Hadrian in 117 AD, and has been in continuous use throughout its history. It is one of the best-preserved of all Roman buildings, now a museum and Roman Catholic church.

The way of the eagle, the lion and the king

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ermit me to begin this weeks column with a small aside. One of the things that I learnt from my late father, Chief Remilekun Fani-Kayode and my leader, President Olusegun Obasanjo, is that one must never respond to the ignorant, the uncouth, the uncultured, the unlettered, the unrefined and the accursed.

They also taught us never to join issues with the embittered, the obsessed, the scorned in love, the imbecilic, the foolish, the living-dead and those that are emotionally, psychologically and intellectually challenged. Rather than a response, such sad and sorry souls are deserving only of our prayers and our pity.

It is in this context and through this prism that I view those that have of late taken pleasure in peddling the most shameful, disgusting and reprehensible type of falsehood about me and mine.

Joining issues with such vermin is far below me. I do not have the time for it and I refuse to wallow in the pigsty with them.

Instead I leave them to God and I pray that He visits His judgement upon them at the soonest.

The fact of the matter is that their end has already been determined. They are like the stubborn fly that insists on following the corpse into the grave- the stench of death stalks them and they shall eat the bread of sorrows. Now let us get back to today's topic which is titled ''The Way Of The Eagle, The Lion and The King''.

Eagles do not hide when they see a storm gathering, lions do not retreat when the enemy threatens and kings do not run when they hear the sound of battle.

Rather the eagle flies boldly into the eye of the storm without a trace of fear but with power, majesty, grace and passion.

The lion rises and roars with courage and strength as his adversary approaches.

The king does not yield one inch of the field to the enemy but rather he boldly leads his captains and princes into the thick of the battle. This surely is our calling and the essence of our lives. The Lord has given us the spirit of the eagle and the lion: the spirit of the warrior and the king.

We cannot and will not be intimidated by anything, any circumstance or anyone and least of all by what we see, feel or hear.

And why should we be afraid of mere mortals, for what is man? The bible asks,”who art thou o man?” It then answers its own question by saying “thou art as the grass that withers, thou art as the flower that fadeth........a man that is born of woman, that is today and tomorrow is no more.” Indeed that is all we are before God- withering flowers and fading grass that will one day come to an end. His word says it is He alone that has the power to “give life and to kill''. If we die tomorrow it is by His will and if we live tomorrow it is by His grace.

We must therefore humble ourselves before God and know that He alone rules in the affairs of men and determines the destiny of nations. We must fear God alone and we must strive to be the man (or woman) that He has called us to be- a prince of Heaven, a deliverer of his people, a fearless warrior and a worthy king.

One of the characteristics of such a leader and king is the courage and ability to fearlessly rise up to the occasion and speak

Crossfire FEMI FANI-KAYODE

ffk2011@aol.com

Obasanjo

Martin Luther King

out when faced with evil, injustice and oppression. This can hardly be disputed.

Yet some people still have their reservations and often ask the following questions- ''why should we speak out? Why should we bother? What difference will it make? Why should we risk our lives?

Why should we swim against the tide?

Why should we bother fighting against the government or the authorities because we can never win?'' These are deep and difficult questions but thankfully Dante Alighieri provided the answer to some of them when he wrote that ''the hottest place in hell is reserved for those that remain neutral in times of great moral crisis''.

This is not only true but it is also deeply profound. There is no gainsaying that when good men remain silent evil thrives in the land. That is why it saddens me when some people suggest that we should not talk about our challenges and that we should not speak out and protest against the evil and injustice that thrives in our land. Imagine what it would have been like if people had adopted that attitude all over the world and throughout the ages.

What a disaster it would have been for us all. A few examples will suffice.

If people did not speak out and protest, we would still have had slavery all over the world today. If people did not speak out and protest, we would not have had democracy in the world today. If people did not speak out and protest, fascism and Hitler's Nazis would have been alive and well today and the Aryan race would have been ruling the world with an iron fist.

If people did not speak out and protest, we would still have had the evil of communism in the Soviet Union and Eastern Europe today and worse still the

communists may well have been controlling most of our planet by now. If people did not speak out and protest, a black man would not be the President of the United States of America today.

If people did not speak out and protest, every country in Africa would still be a grovelling colony today. If people did not speak out and protest, apartheid and the Boers would still have been enthroned and in power in South Africa today. If people did not speak out and protest, ISIS, Al Qaeda, the Taliban, Al Shabab and Boko Haram would have taken over half of the world by today.

If people did not speak out and protest, there would have been no State of Israel or Jewish homeland today. If people did not speak out and protest, Iran would have possessed and would most likely have used nuclear weapons and other weapons of mass destruction by today.

If people did not speak out and protest, vicious military dictatorships and unaccountable military tyrants would still have been ruling most of Africa today.

If people didn't speak out and protest, the great monotheist faiths of Christianity, Islam and Judaism would never have been established and the world would still have been controlled by pagans, cannibals, cultists and devil worshipers till today.

If people did not speak out and protest, there would not have been a separation of power between the church and the state till today. If people did not speak out and protest, there would have been no freedom of worship today and neither would there have been any freedom of speech, freedom of expression, freedom to share information or freedom to communicate: there would have been no civil liberties,

no human rights, no right to vote and no equality of the sexes in the world till today.

If people did not speak out and protest, the United States of America would never have been founded and established as an independent nation state and she could never have become the great and powerful country that she is today.

If people did not speak out and protest, Great Britain, France, Russia and indeed the whole of Europe would still be ruled by a handful of autocratic and indolent royal families till today. If people did not speak out and protest, Africa would still be in the dark ages till today and we would still have been drowning twins at birth and selling one another into slavery. I could go on and on.

The point is that we must speak out strongly and protest against injustice and evil whenever and wherever we see it. That is why we were educated in the first place and that is what being a believer or a man or woman of faith is all about.

Dissenting, protesting and standing up for the rights of the weakest and most vulnerable in our society, even at the risk of death or our liberty, is the lifeblood of any decent and civilised community. As Martin Luther King once said, ''if we are not ready to die for something then we are not fit to live for anything''. Speaking out against injustice and vigorously opposing the abuse of power, wickedness in high places, governmental incompetence, tyranny and evil is the greatest duty that we have to posterity and to one another as human beings.

It is a sacred duty- a trust and obligation before the Living God who has explicitly commanded us in His Holy Word to ''resist evil'' and to ''fight injustice''. The minute we stop talking, we stop protesting and we stop speaking out against that which is unjust and evil, that is when we are truly lost as a people. That is when we cease to be the men and women that God has ordained us to be. That is when we no longer deserve to be called human beings.

That is when we must bow our heads in shame forever.

HIGH CHIEF

CRITICS CAN'T STOP MY VISION FOR OSUN – Aregbesola

-But non-payment of salaries can!

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