Thursday, october 27, 2016 binder1

NLNG faces hurdles on $15bn Train 7 investments Adeola Yusuf

T

he Nigerian Liquefied Natural Gas (NLNG) yesterday declared that funding for its $15 billion Train 7 invest-

ments faces imminent impediment from threats to its Incorporated Joint Venture (IJV) model.

The IJV, which granted

the gas multinational the capacity and autonomy to successfully approach the international capital market to source funds

unlike the less flexible upstream unincorporated JVs, is about to be changed through the amendment of the NLNG

Act, Managing Director of the company, Victor Attah, said.

The NLNG, Attah said during an oversight visit

Naira weakens on parallel market as dollar demand rises

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of the Senate Committee on Gas, needed all the necessary support to be able to go to the market to raise $15 billion for Train 7 investment, which is caCONTINUED ON PAGE 4

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Buhari

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Kalu to court: Stop EFCC from transferring my case to Lagos }2&47

Kalu

Arms scandal:

Panel submits final report, indicts top FG officials }2

Ex-defence ministers, perm sec, firms to face prosecution Protesters threaten to occupy courts, demand resignation of indicted judges

}4

Some members of nongovernmental organisations (NGO) during a protest to demand the suspension of indicted judges, at the Supreme Court complex in Abuja… yesterday.

PHOTO: ELIJAH OLALUYI

Afenifere demands Amaechi, Onu’s resignation …warns Fulani herdsmen against attacking Ekiti Alcohol worsens snoring, chronic insomnia

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thursday, OCTOBER 27, 2016 NEW TELEGRAPH

Panel submits final report, indicts top FG officials Our Correspondent

A

fter 14 months of painstaking work, the Presidential Committee on the Audit of Defence Equipment Procurement in the Nigerian Armed Forces (2007-2015) has submitted its final report to President Muhammadu Buhari.

New Telegraph gathered from highly placed sources that Buhari received the final report at the presidential villa on Sunday from the Air Vice Marshal J.O.N Ode (rtd)led panel.

It was authoritatively gathered that the report, a copy of which was made available to the National Security Adviser (NSA), Maj.-Gen. Babagana Monguno (rtd), indicted some influential officials of the administration.

Also indicted in the report, according to sources, are former ministers of defence, senior military officers, a permanent secretary and top officials of the Ministry of Defence.

A former Chief of Army Staff, an erstwhile Chief of Defence Intelligence (CDI) and some former service chiefs were indicted in the final report.

Some firms, which executed contracts with the Office of the National Security Adviser (ONSA) and the Ministry of Defence, were also recommended for prosecution by the Economic and Financial Crimes Commission (EFCC) for various infractions.

The probe cut across the Ministry of Defence, Nigerian Army (NA), Nigerian Navy (NN), and Nigerian Air Force (NAF).

One of the sources, who spoke on the final report, said: "I can reveal to you that the 13-man panel, which was set up in August last year, submitted its report to the C-in-C on Sunday.

"A copy of the report was given to the NSA, having regard to the fact that he inaugurated the panel.

"The report is very weighty, as it indicted and recommended for further investigation, a

98,946

The total volume of payment channels made by Ebillspay of Nigeria in May 2015.

Source: National Bureau of Statistics

4%

The percentage of the population of men above 60 years of Iraq in 2012.

Source: Un.org

very officials in the current government, a former minister, who was very influential in the last administration, and a permanent secretary.

"Some top officials of a strategic ministry were also indicted and recommended for further probe by the EFCC." The source added that recommendations were made for the recovery of huge sums of money from individuals and firms indicted.

New Telegraph learnt that some top government officials were indicted for “sharing” money meant for procurement of equipment among themselves.

The arms panel established that the procurement processes were arbitrarily carried out and generally characterised by irregularities and fraud.

A highly placed source said the panel had interrogated some of the indicted officials, serving and retired officers, and some contractors.

The Federal Government is expected to release the final report any moment from now.

Three months after he assumed office last year, Buhari had inaugurated a 13-man panel to probe procurement of arms and related military contracts, between 2007 and 2015.

Before the final report,

the panel had turned in two interim reports, which indicted serving and retired military officers.

Before the final report, the 13-man panel had released two interim reports, wherein it indicted a former NSA, Col. Sambo Dasuki (rtd); former Chief of Defence Staff (CDS), Air Chief Marshal Alex Badeh (rtd); former Chiefs of Army Staff (COAS), Lt.-Gen. Azubike Ihejirika (rtd), and Lt.Gen. Kenneth Minimah (rtd); and ex-Chiefs of Air Staff (CAS), Air Marshal M.D Umar (rtd), and Air Marshal Adesola Amosu (rtd).

Other serving and retired senior officers earlier indicted were: Maj.Gen. E.R. Chioba (rtd), AVM I.A. Balogun (rtd), AVM A.G. Tsakr (rtd),

Tunde Oyesina

back to Abuja for continuation of hearing.

In the application filed through his legal team comprising Awa Kalu (SAN), Chief Mike Ozekhome (SAN), Solomon Akuma (SAN), Chief Nwufo (SAN) and Chief Gordy Uche (SAN), Kalu also asked for an order that the leave so granted shall operate as a stay of all actions, matters or issues ancillary to or relating to or pertaining to or connected with the case, pending the hearing and determination of the suit.

Attached to the suit No. FHC/ABJ/CS/845/2016 is a supporting affidavit of 16 paragraphs and an affidavit of urgency deposed to by one Ikechukwu Njoku, a legal practitioner.

The deponent averred that the suit brought against the applicant was commenced in 2007 after he left office as Governor of Abia State.

He added that after office, the applicant did not contest any elective office because he wanted to retire to private life and quiet life in his village, Igbere in Abia State.

According to the deponent, "due to the case

AVM A.G. Idowu (rtd), AVM A.M. Mamu, AVM O.T. Oguntoyinbo, AVM T. Omenyi, AVM J.B. Adigun and AVM R.A. Ojuawo.

Also indicted were: AVM J.A. Kayode-Beckley, Air Cdre S.A. Yushau (rtd), Air Cdre A.O. Ogunjobi, Air Cdre GMD Gwani, Air Cdre S.O. Makinde, Air Cdre A.Y. Lassa, Col. N. Ashinze and Lt Col. M.S. Dasuki (Rtd).

Many contractors, former ministers and government officials are facing prosecution in respect of the arms scandal.

The panel had said at the time that: "The procurement processes were arbitrarily carried out and generally characterised by irregularities and fraud.

“In many cases, the procured items failed to meet the purposes they were procured for, especially the counter insurgency efforts in the North-East.

“A major procurement activity undertaken by ONSA for NAF was that concerning the contracts awarded to Societe D’ Equipment Internationaux (SEI) Nig Ltd. between January 2014 and February 2015, NAF awarded 10 contracts totalling $930,500,690 to SEI Nig. Ltd. “Letters of award and End User Certificates for all the contracts issued by NAF and ONSA respectively did not reflect the contract sums. Rather, these were only found in the vendor’s invoices, all dated 19 March 2015."

A statement by presi-

dential spokesman, Mr. Femi Adesina, had said the Ode-led panel "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 North-East, including the apparent deficit in military platforms with its attendant negative effects of troops’ morale.

“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.”

L-R: Kebbi State Governor, Senator Atiku Bagudu; his wife, Dr. Zainab; Lagos State Governor, Mr. Akinwunmi Ambode; his wife, Bolanle; wife of Edo State Governor, Iara Oshiomhole and her husband, Comrade Adams Oshiomhole, during the closing ceremony of the 16th Annual National Women Conference organised

by Committee of Wives of Lagos State Officials (COWLSO), in Lagos… yesterday

Kalu to court: Stop EFCC from transferring my case to Lagos Abuja

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former governor of Abia State, Dr. Orji Uzor Kalu, yesterday asked the Federal High Court sitting in Abuja to stop the Economic and Financial Crimes Commission (EFCC) from transferring his case from the Abuja Division of the court to Lagos.

Kalu is, therefore, seeking an order of mandamus compelling the EFCC and the Attorney General of the Federation to try him in the Abuja division of the court.

The applicant, in a motion ex parte brought pursuant to order 34 Rule 1 [a] and 3 of the Federal High Court (Civil procedure) rules, 2009; and section 6[6] [a] of the 1999 Constitution, sought the leave of court to apply for the issuance of an order of mandamus compelling the Chief Judge of the Federal High Court to remit suit No. FHC/ABJ/CR/56/07Federal Republic of Nigeria Vs. Orji Uzor Kalu & 2Ors, which was transferred from the Abuja division of the court to Lagos

brought against him by the EFCC, he temporarily relocated to Abuja to face trial alongside others charged with him.

"After he entered his plea of not guilty to all the charges and was subsequently granted bail by the court, his trial was delayed by some interlocutory applications that travelled to the Supreme Court.

"That in 2016, the Supreme Court ordered that the case be returned to the Abuja Division of the Federal High Court for trial.

"That acting in strict compliance with the judgement of the Supreme Court, the Chief Judge of the Federal High Court, Justice Ibrahim Auta (3rd respondent), assigned the case to Justice Anuli Chikere for trial.

"It is the case of the applicant that all parties appeared before Justice Chikere on two occasions and the matter was adjourned due to pending appeal before the Supreme Court."

The deponent further averred in the supporting affidavit that on the third occasion, the court ordered that the defendant (Kalu) alongside others should take their plea,

which they did and were admitted on bail.

"That the court, alongside the prosecution and defence team, agreed for three clear dates and the matter was adjourned to December 6, 7, and 8, 2016 for definite trial, thereafter, all the parties left the court to prepare for adjourned dates.

"Surprisingly and without consultation with other parties and defence team of the applicant, the EFCC (1strespondent) which is the prosecuting agency approached the Chief Judge of the Federal High Court (3rdrespondent) and asked for a transfer of the case to Lagos judicial division of the Federal High Court," he averred.

The applicant further stated that the 3rd respondent yielded to their request and transferred the matter to Lagos judicial division of the Federal High Court.

It is the deposition of the applicant that upon becoming aware that the 3rd respondent has transferred the case to Lagos judicial division of the Federal High Court, he petitioned the acting chair-

man of the 1st respondent (EFCC), Ibrahim Magu, through one of his counsel, Amobi Nzelu.

Furthermore, the applicant also submitted that he has been standing trial in the matter since 2007 and has never failed to appear in court on any of the adjourned dates and expressed his willingness to face his trial before any judge in Abuja or worst still in Umuahia where the offences were allegedly committed.

He contended that while the 2nd respondent (AGF) has constitutional powers to initiate, maintain and discontinue any criminal action in court, such powers cannot be used for persecution other than for prosecution.

He further argued that transferring a nine-yearold case from Abuja to Lagos is for persecution and not prosecution.

While accusing the prosecuting agency of engaging in forum shopping for a convenient court to convict him, he averred that he temporarily resides in Abuja and his team of lawyers resides in Abuja.

MORE ON PAGE 47

thursday, OCTOBER 27, 2016 NEW TELEGRAPH

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thursday, OCTOBER 27, 2016 NEW TELEGRAPH

Protesters besiege Supreme Court, threaten to occupy courts ...insist indicted seven judges must step down Tunde Oyesina Abuja

H

undreds of protesters yesterday stormed the Supreme Court complex, inside Three Arms Zone, Abuja, demanding that the judges that are under investigation be suspended for their trial.

The Department of State Services (DSS) had, on October 8 and 9, arrested seven judges over alleged corruption.

The judges were consequently released on bail.

The seven judges arrested and released on bail are Justices – Sylvester Ngwuta and Inyang Okoro, of the Supreme Court; suspended Presid-

ing Justice of the Court of Appeal, Ilorin Division, Justice Mohammed Ladan Tsamiya; Justice Adeniyi Ademola (Federal High Court); the Chief Judge of Enugu State, Justice I. A. Umezulike; Justice Kabiru Auta of Kano State High Court; and Justice Muazu Pindiga (Gombe State High Court).

After their release, two of the judges, Justices Ademola and Nnamdi Dimgba, whose house was only raided had since resumed sitting.

Also, the National Judicial Commission (NJC) had said it would not suspend the judges.

The protesters, under the aegis of Forum of Non-Governmental Organisations in Nigeria (FONGON), stated that

all the seven judges that were arrested by the DSS between October 7 and 8, must vacate the Bench.

They further stated that the protest became necessary since NJC is not willing to suspend them.

However, heavily armed security operatives comprising soldiers, DSS and mobile policemen, blocked the protesters from gaining entrance into the Supreme Court complex.

As soon as the protesters approached the gate of the Supreme Court, security men who said they acted upon instruction from above, quickly closed the Supreme Court gate.

People going inside the court premises were thoroughly searched even as those without valid identification card were turned

back.

This, however, forced the Supreme Court, which had earlier listed six cases for hearing, to conduct proceedings inside chamber.

The group gave a oneweek ultimatum to the judges to vacate their seats and allow for unimpeded investigations.

FONGON also threatened that it would mobilise its members to occupy the Supreme Court if the judges failed to step aside.

Chairman of the organisation, Comrade Wole Badmus, who addressed journalists during the rally, said no member of the judiciary is above the law and untouchable, especially when found to be involved in criminal acts.

He added that the judges have erred according

L-R: Executive Director, Corporate Governance, Centre for Democratic Governance in Africa, Mr. Daniel Alabrah; Director-General, Dr. Dafe Akpocha receiving a copy of New Telegraph from the Managing Editor, Business & Strategy of the newspaper, Mr. Yemi Ajayi and Managing Editor, Publication & Operations, Mr. Emeka Obasi, during a visit of the Centre to the Corporate Head office of the newspaper in Lagos…yesterday.

Wole Shadare

NLNG faces hurdles on $15bn Train 7 investments pable of generating 18,000 jobs.

Unfortunately, the NLNG boss said, according to a statement issued by the company’s General Manager, External Relations, Dr. Kudo EresiaEke, the business model made possible by the NLNG Act "is currently being threatened by a proposed amendment by the National Assembly."

He also pointed out that Nigeria LNG's pipelines have suffered 19 disruptions in 2016 alone.

The company, he however noted, has helped to reduce gas flaring from 65 per cent at the com-

268,000

The total number of shirts/jerseys sold by Tottenham in 2016.

Source: Goal.com

-21.53%

The percentage by which the total number of NSE Banking Index of the NSE dropped from Jan. 2014 – Dec. 2014.

Source: Nigerian Stock Exchange

did not exist.

“They are telling us stories meant for a threeyear-old toddler. When has a judge turned to farmer?

Some other judges are claiming the money found in their houses are estacodes. This is bunkum; we cannot believe it. Even by the law of Nigeria, once you have unspent estacode, you must return it to the coffers. Based on the Money Laundering Act of 2000, the money has to be declared, this sum found in the houses of these judges is very embarrassing when Nigerians are crying for food on the table, for qualitative education.

“A judge’s home is not Central Bank of Nigeria (CBN), it is not bureau de change, not black market; so I don’t know what argument they want to push. All judges and justices under investigation must step aside first not to pervert investigation.

You cannot be a judge in your own case. If you are being investigated for money laundering and they brought such case before you, what moral justification do you have to preside over such a matter?”

The group accused the NJC of not doing enough to fight corruption in the judiciary.

FG to sack, demote NAMA workers

PHOTO: GODWIN IREKHE

CONTINUED FROM PAGE 1

to the Money Laundering Act to have kept such a huge amount of cash at home.

“Failure of NJC to stop all the judges under investigation from sitting, we have no choice than to occupy the courts the judges are sitting. When we are talking of the rule of law, you have to obey the rule of law first before we obey your rule of law. You have been alleged of certain things and the best thing to do is to step aside and let investigations be done.

“You cannot continue sitting there and pervert the course of justice. We have 50 organisations here; we will be up to 200 organisations. From today, we are giving a one-week ultimatum for the judges under investigations, to step aside,” he added.

The group also said no judge should be untouchable or above the law as the constitution does not confer on members of the judiciary any immunity from prosecution if found guilty of any infraction.

According to him, “No judge or justice is beyond being arrested if found wanting in the discharge of his duty. We are surprised by the argument being put up by the judges. None has been able to come out clear to say the money found in his house

mencement of its operations to about 20 per cent today, removing the country from the top of the list of erring nations, with a real chance of further improvement, if given the enabling operating environment including the actualisation of Train 7.

Attah said Nigeria LNG is faced with severe challenges, including operations of multiple regulatory agencies, pipeline security issues, citing 19 recorded pipeline disruptions this year alone as example.

He also alluded to the problem of double taxation, which is capable of impacting the company’s competitiveness and compromising its ability to maintain its position as the world’s 4th global largest gas supplier.

According to him, the situation if not checked, is capable of leading to a number of unfavourable consequences such as loss of revenue for the Federal Government, potential loss of jobs and loss of status as inspirational business model

and number one indigenous company in the country.

On LPG supply to the domestic market, the NLNG MD said the structure is threatened, as the system encourages tax-free importation of LPG while NLNG supply is subjected to Value Added Tax (VAT), thereby frustrating the company’s effort to support and grow the local LPG market for which it already sets aside 250,000 metric tonnes annually.

The Chairman Senate Committee on Gas, Bassey Albert Akpan, however, promised that his committee would do all in its power to sustain the NLNG legacy and encourage the entrenchment of the NLNG business model in other parts of the Nigerian economy.

Speaking after a business presentation by NLNG’s General Manager Production, Mr. Tayo Oginni, the Senate Committee Chairman said: “I am particularly happy with what I have seen and heard today, and I will be

glad to have your comprehensive presentation slide to share with other members of the Upper Chamber to get them better informed. The Senate resisted calls for the sale of government equity in Nigeria LNG because we believe that Nigeria LNG is the most successful oil and gas venture in the country.”

Akpan said a business like NLNG, which has succeeded over decades, should be encouraged and assured that the company has the senators buy-in on the proposed Train 7 expansion programme, which will potentially add an estimated 18,000 new jobs, while reinforcing the company’s position as a major player in the global energy market.

He noted that to achieve this “we must be able to sustain our output to be able to sustain our profitability.”

He said the visit provided a clear picture and understanding of the trends and issues involved in the business.

T

wo weeks after the Federal Government carried out major pruning of workforce in the Federal Airports Authority of Nigeria (FAAN) leading to the demotion of its top managers, the Nigerian Airspace Management Agency (NAMA) is set to be hit with similar exercise.

The Federal Government is said to be worried about the over bloating of the agency in view of the dwindling revenue and what it considered as ‘a big fraud’ in the placement of Directors, General Managers, Deputy General Managers and those whose elevation was accelerated by a former Minister of Aviation.

The appointment and elevation of fresh graduates to the position of Assistant General Managers, and to grade levels 12 and 14 was said to be the height of impunity and has thus brought bad blood among the workers.

Consequently, the Ministry of Aviation had taken a look at the situation and felt there was the need to apply the same action to remedy the situation.

A source in NAMA, who spoke to New Telegraph on condition of

anonymity because he was not authorised to speak to the media, said already, there is panic in the agency as many who came in “through the back door and who know that they are not qualified for the position they currently hold” are to be asked to go.

The source expressed concern over the impending sack or demotion in the agency, saying the affected officials found themselves in a situation that was not their making.

Meanwhile, the National Union of Air Transport Employees (NUATE) has petitioned the Minister of State for Aviation, Hadi Sirika, over his inability to fully implement the Margaret Eyo-Ita committee’s recommendation on proper placing of workers in the agencies.

The union alleged that some of the names initially pencilled down for demotion or sack were deliberately removed by some powerful people in government, submitting only 29 names it claimed were wrongly engaged and placed in high positions above their qualifications since 2012 when over 3,000 people were brought into FAAN.

thursday, OCTOBER 27, 2016 NEW TELEGRAPH

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thursday, OCTOBER 27, 2016 NEW TELEGRAPH

Afenifere demands Amaechi, Onu’s resignation

Babatope Okeowo Akure

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fenifere, the pan Yoruba socio-political group, has asked Minister of Transportation, Rotimi Amaechi, and Minister of Science and Technology, Dr. Ogbonnaya Onu, to step down from office over allegation of attempting to bribe judges.

Also, the mainstream Yoruba organisation warned Fulani herdsmen against attacking Ekiti State over the law enacted by the state government banning grazing activities in the state.

The spokesperson for Afenifere, Mr. Yinka Odumakin, who briefed reporters yesterday after the monthly meeting held in the house of the group’s leader, Pa Reuben Fasoranti, in Akure, the Ondo State capital, advised President Muhammadu Buhari to constitute sound economic

team to help bring out the country from economic downturn.

Flanked by other leaders of the group, Odumakin said Afenifere was not pleased with the way and manner judicial officers were arrested as mere criminals just as he advised the judiciary to cleanse itself of corrupt judicial officers.

Pointedly, Afenifere said the ministers accused of attempting to bribe judicial officers should step down from office pending the conclusion of the investigation so as not to pervert the course of justice.

Afenifere said: “For the ministers who have been mentioned for attempting to pervert the course of justice, we are asking that such ministers should step aside immediately.

After that, they should go through due process of the law to either ascertain their innocence or if their guilt established,

they should be punished according to the laws of the land.

“We cannot be saying only judges that have been accused should be investigated. Ministers too, who have been accused should step aside and face prosecution.”

Two justices of the Supreme Court had accused Amaechi and Onu of attempting to bribe them in perverting justice in governorship election petitions before the apex court.

Justice John Okoro had in a letter to the Chief Justice of Nigeria (CJN), Justice Mahmud Mohammed, who is also Chairman of the National Judicial Council (NJC), accused Amaechi of attempting to influence the course of justice in the Rivers, Akwa Ibom and Abia governorship petitions.

Also, Justice Nwali Sylvester Ngwuta accused Amaechi and Onu of approaching him separately to pervert justice in the

Ekiti and Ebonyi governorship election petitions.

While lamenting corruption in the third arm of government, Odumakin, however, expressed regret over the manner the judicial officers were arrested

by Department of State Services (DSS).

His words: “No society should tolerate corruption because what is on offer and being sold is justice.

A corrupt judge is worse than a thief and what is on offer is justice and that negates the soul of any society. Therefore, all society must do all it can to ensure that its judges are free of corruption.

“However, in the present instance, we have a few observations about the modus operandi of the actions against these judges.

We believe that it is not the duty of DSS to investigate corruption. Investigating corruption is within the purview of the Economic and Financial Crimes Commission (EFCC), In-

L-R: Vice-President Yemi Osinbajo; former Minister of Defence, Gen. TY Danjuma; President Muhammadu Buhari (1st right) and others, after the inauguration of Presidential Committee on North East Initiative (PCNEI) in Abuja…yesterday.

Philip Nyam Abuja

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FG releases N25bn for social investment scheme Abuja

T

he Federal Government has released N25 billion (5%) of the N500 billion earmarked for the Social Investment Programme (SIP).

Minister of State for Budget and National Planning, Zainab Ahmed, disclosed this yesterday after the Federal Executive Council (FEC) meeting at the presidential villa, Abuja.

The minister who addressed State House Correspondents alongside the Minister of Power, Works and Housing, Babatunde Fashola, and the Minister of Information and Culture, Lai Mohammed, said another N40 billion was in the process of being approved for release by the steering committee.

According to the minister, the SIF is divided into four parts with the whole

Federal Capital Territory (FCT) Minister when he banned grazing activities in Abuja, but threatened Mr. Ayo Fayose when he outlawed grazing activities in his state.

His words: “We are disappointed and worried that the FCT Minister, who was appointed, ordered herdsmen to leave Abuja and they complied; but in Ekiti State, where they have an elected government, the House of Assembly made a law and what the herdsmen have resorted to, under Myetti Allah, is to harass the governor, threaten him rather than obey the laws of the land."

“Afenifere calls on those who are in position to call these herdsmen to order immediately because what they are doing in Ekiti State is capable of bringing untold and unnecessary crises which we must avoid as a nation.”

On the state of the economy, Afenifere advised the president to look for the best hands and brains in economics across the land and constitute them into Economic Team to formulate policies and economic programmes that would take this nation out of recession.

Reps ask Buhari to reconstitute boards of agencies

PHOTO: TIMOTHY IKUOMENISAN

Anule Emmanuel

dependent Corrupt Practices and other related offences Commission (ICPC) and the Police. And if the DSS comes across of any crime that borders on corruption, it is to gather evidences and handover to those agencies of government to ensure that they investigate and prosecute those who are involved in the offence.

“So, we frown at raiding the home of judges, breaking down doors at ungodly hours of the night reserved for armed robbers in the name of fighting corruption. It is wrong for anybody to go to people’s homes about 1a.m. and say I am DSS in a country where the wife of CBN governor was kidnapped by soldiers.”

Although Afenifere said that the judges are not above the law, it, however, said if a judge commits an offence in the course of duty, it is only the National Judicial Council (NJC) that has the power to investigate him and, if found guilty, should be recommended for trial in the law court.

On the menace of the herdsmen, Afenifere wondered why the Myetti Allah would not query the

aim of creating jobs for the youth and will run till 2017.

"On the Social Investment Programme, what we are doing today is to tell Nigerians that the programme is starting.

We have approval from the steering committee in sum of N150 billion. So far, N25 billion has been released into the account, and there is another N40 billion that is in the process of being released into the account.

"The programmes are in four parts. First is the homegrown school feeding programme which is targeting 5.5 million primary school pupils in all the states of the federation from primary 1-3,” Ahmed said.

She explained that there are presently 11 states ready to commence the school feeding programme.

"As at today, 11 states are fully ready to start and the first phase will feed 3.5 million school children.

"The second programme is a job creation programme, which is aimed at preparing 500,000 university graduates; they will be equipped with devices containing information to train them as teachers, agricultural workers and also as health support workers.

The Budget Minister also said that the school feeding programme has started in some states like Kaduna and Osun.

The Federal Government, under the arrangement, is expected to handle from Primary 1-3 while the states will handle from Primary 4-6.

The minister said that the budget implementation itself was on course as the 2016 budget is fully performed to date in terms of personnel.

Other decisions at the Council was the approval of the 215-megawatt Kaduna power plant and the construction of sub-

station to evacuate 40 megawatts of power from the Gurara Hydroelectric Power Plant Phase One to connect into Kaduna and to enable it interconnect to Mamdo transmission substation.

Fashola explained that two approvals would assist in the completion of on-going projects that would add up to job creation.

The Kaduna plant is to contribute 40 megawatts extra into the national grid while the Gurara Phase 1 will help in expanding transmission across the country."

3.74m

The total number of connected mobile lines (CDMA) of Nigeria in December 2014.

Source: Ncc.gov.ng

12.37%

The percentage of the club-trained players by English clubs in 2010-2011.

Source: Football-observatory.com

he House of Representatives yesterday asked President Muhammadu Buhari to immediately re-constitute boards of government parastatals and agencies to facilitate good governance in Nigeria.

The lower chamber also mandated its committee on government affairs to ensure implementation and report back within four weeks for further legislative inputs.

The advice was given after a motion titled: “Urgent need to reconstitute the boards of parastatals and agencies in order to hasten good governance”, sponsored by Hon. Abdullahi Umar Faruk (APC, Kebbi).

Buhari dissolved the governing boards of government agencies and parastatals on July 16, 2015 and the chief executive officers of the affected agencies/parastatals were directed to refer all matters requiring the attention of the boards to the president, through the permanent secretaries, until the boards are reconstituted.

While presenting the motion, Faruk explained that: "The boards of parastatals are saddled with the daunting task of setting out broad economic, financial,

operational and administrative guidelines and targets for their various agencies as well as managing policy issues, monitoring of institutional projects, programmes and ensuring that the parastatals’ mandates are realised.”

The lawmaker expressed worry that the absence of the boards of these parastatals, including the Nigerian Deposit Insurance Corporation (NDIC), Nigeria Customs Service (NCS), Securities and Exchange Commission (SEC), Federal Inland Revenue Services (FIRS), National Universities Commission (NUC), among others has created major challenges to the operations of these agencies since critical decisions that need the board’s attention in the face of the current economic recession are left unattended to.

Faruk continued: "The continued failure to reconstitute the boards poses great economic disservice to the nation and the directive for matters requiring the attention of the boards to be referred to the president is unwieldy and will tend to overlabour the president, thereby slowing the pace of the work of the parastatals.”

The motion was eventually passed when Speaker Yakubu Dogara, that presided over the plenary, put it to a voice vote.

News|National

THURSDAY, OCTOBER 27, 2016 NEW TELEGRAPH

Senate suspends amendment of JAMB Act ... seeks prisons’ transformation

Yekeen Nurudeen Abuja

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he Senate has suspended the ongoing amendment of the Act establishing the Joint Admissions and Matriculation Board (JAMB), to allow for more consultations and inputs by all critical stakeholders.

The suspension was announced by the Chairman, Senate Committee on Basic and Secondary Education, Senator Aliyu Wamakko, during an oversight visit to the headquarters of JAMB in Abuja yesterday.

According to a statement issued by the Head, Public Relations of JAMB, Dr. Fabian Benjamin, the Chairman of the Committee was represented

by Senator Ajayi Boroffice, during the oversight, who explained that the suspension was to avoid impeding the progress being made by JAMB in the conduct of examinations in Nigeria.

His words: “Your JAMB result is only valid for one year and we thought it will be better for it to be valid at least for three years. It will reduce the burden on the parents, on the students themselves even on the institution that is con-

ducting the test. I think it is what is good for all of us and I don’t think the public will reject it.

As I said, we don’t make law for an individual or for Senate. We make law for the country in the interest of all of us. A bill must not necessarily be at the convenience of a particular organization. Having said that, since we don’t want to make a law that will impede the progress of any institution, we are bound to listen to what they are saying. We are bound to listen to them.

Responding, the Registrar/Chief Executuve of JAMB, Professor Ishaq Oloyede, said he was

happy the Senate listened to his appeal.

He also appealed to members of the House of Representatives and the Executive to toe the line of the Senate by suspending the process of amending the Act. Oloyede stressed that going ahead with the amendment of the Act without due consultations would not be in the best interest of the nation.

“I believe that they must have considered so many things before coming to that conclusion at that time but my appeal is to the other legs–the House of Representatives and to the President that it will do more harm to the students than good.”

DSS stops protesting NMA members from Presidential Villa Obinna Odoh Abuja

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rotesting members of the Nigerian Medical Association(NMA) yesterday in Abuja were barred from entering the Presidential Villa by operatives of the Department of State Security Services(DSS).

The Association, in collaboration with Health Sector Reform Coalition and market women, staged a peaceful protest over none implementation of the National Health Act passed by former President Goodluck Jonathan in November 2014.

Alcohol worsens snoring, chronic insomnia Biodun Oyeleye

Ilorin

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lcohol may be responsible for up to 10 per cent of chronic insomnia cases because it relaxes throat muscles and interferes with brain control mechanisms.

According to a study “Improving Sleep: A Guide To A Good Night’s Rest”, produced by researchers at the Harvard Medical School, alcohol can worsen snoring and other nocturnal breathing problems, sometimes to a dangerous extent.

Insomnia, also known as sleeplessness, is a sleep disorder where people have trouble sleeping.

They may have difficulty falling asleep, or staying asleep as long as desired. Insomnia is typically followed by daytime sleepiness, low energy, irritability, and a depressed mood and may result in an increased risk of motor vehicle collisions, as well

as problems focusing and learning.

The researchers said drinkers, “have frequent awakenings and sometimes frightening dreams” hence the admonition to abstain from alcohol, if you want a good night rest”.

Alcohol is described by the researchers as one of the ‘common enemies of sleep’. Other ‘enemies include caffeine, smoking or chewing tobacco, as well as lack of exercise’.

Many things can interfere with sleep, ranging from anxiety to an unusual work schedule.

However, people who have difficulty sleeping often discover that their daily routine holds the key to night time woes.

“Alcohol may seem to be helping you to sleep, as it helps induce sleep, but overall, it is more disruptive to sleep, particularly in the second half of the night,” said researcher Irshaad Ebrahim, a medical director at The London Sleep Centre in the United Kingdom, U.K,

who was not involved in this study.

He added: “Alcohol also suppresses breathing and can precipitate sleep apnea,” or pauses in breathing that happen

T

he Peoples Democratic Party (PDP) has said that it is against the plan by the All Progressives Congress-led Federal Government to borrow the sum of $29.96billion.

The party queried the rationale behind the government’s request to the National Assembly for huge external borrowing, wondering what has happened to all the recovered funds from indicted ex-officials of government.

In a statement issued yesterday evening by its Spokesman, Prince Dayo Adeyeye, the PDP said that

its attention has been drawn to letters submitted by the Federal Government of Nigeria to the National Assembly seeking approval for an external borrowing of $29.960b, and movement of N180b appropriated for special intervention to funding of ‘critical recurrent and capital items’.

“We totally disagree with the APC-led Federal Government on this latest move, and call on President Muhammed Buhari to first and foremost explain to Nigerians what his administration has done with the so called ‘recovered looted funds’ and how far the 2016 Budget is fairing.

its effects can endure for many hours. “Caffeine withdrawal can cause headache, irritability, and extreme fatigue,” they said, adding: “Those who can’t or don’t want

The President of the NMA, Prof. Mike Ogirima, who addressed the media right at the entrance to the Villa after several efforts to enter to no avail, said that the NMA in collaboration with Health Sector Reform Coalition and market women staged a walk in FCT to call on government at all levels to implement the provisions of the National Health Act, (NHA) 2014.

Ogirima further said that the protest was not to plead with government to implement the NHA but rather to remind the present administration that the National Health Act was a law that must be respected. to give up caffeine should avoid it after 2 p.m. or noon if they are especially caffeine-sensitive.”

Similarly, they called for smoking or chewing tobacco cessation, ensuring cautious alcohol use, being physically active, while sticking to a regular sleep schedule.

L-R: Maj Gen. Obi Umahi (Rtd); Benue StateGovernor, Samuel Ortom and his Ebonyi State counterpart, David Umahi, during an evening of exquisite dinning and inspired testimonies organised by the King’s Court parish of the RCCG at the Civic Centre in Lagos.

PDP opposes Buhari’s plan to borrow Onyekachi Eze

throughout the night.

On the way out, the researchers at the Harvard Medical School, urged people to cut down on caffeine or avoid it as much as possible since

7

“Also, President Buhari must itemize what he intends to finance with this proposed borrowing of almost $30b instead of lumping it up in a coded term, and to plunge the nation’s future into burden of debt.

More so, this approach cannot be the preferred solution to the economic quagmire which this government created due to ineptitude.”

PDP said that the Federal Government had budgeted the sum of N6.07 trillion for the 2016 fiscal year with deficit of N2.22 trillion.

The party said that according to the breakdown, N1.8trn was budgeted for Capital Expenditure and

President Buhari is now seeking to borrow over N9 trillion ($29.960 billion) for ‘critical infrastructure’.

“This is absurd and way outside the Government budgetary provisions for Capital Expenditure and must be rejected by all wellmeaning Nigerians.”

N116.5

The average price of Premium Motor Spirit (Petrol) of Nasarawa State in March 2015.

Source: National Bureau of Statistics

N34.1bn

The total amount of the ICT sector of the Nigeria Stock Exchange for 2015 Q4.

Source: Nigerian Stock Exchange

Kashamu asks court to stop FG’s move to abduct him Tunde Oyesina Abuja

T

he Senator representing Ogun West in the Senate, Buruji Kashamu, yesterday asked the Federal High Court sitting in Abuja to stop the Federal Government from forcefully abducting and transporting him to the United States of America to face drug related criminal charges.

Joined in the suit are the Attorney General of the Federation (AGF) and the Chairman of the National Drug Law Enforcement Agency NDLEA. Kashamu, through his

counsel, Charles Ndukwe, told Justice Gabriel Kolawale that since July when the court put on hold any plan to abduct him, the defendants have been making clandestine moves to get him to the US at all cost to face trial on hard drug offences.

The counsel informed the court that unless an injunctive order was made against the defendant, the fundamental rights of his client would be jeopadised.

Justice Kolawale, however, queried the counsel on the allegation on the grounds that no evidence of forceful abduction had been placed before the court.

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THURSDAY, OCTOBER 27, 2016 NEW TELEGRAPH

METRO

ABIODUN BELLO

...CRIME, CITY WATCH, COURTS

Female banker sends assassins after husband

Kunle Olayeni and Taiwo Jimoh

A

female banker, Mrs. Oluchi Onyebuchi (32), has allegedly hired assassins to kill her estranged husband, Mr. Tochukwu Onyebuchi.

Oluchi is now in the custody of the police in Ogun State. She was arrested with two of the suspected assassins, Chigozie Nworie and Kingsley Ofotele.

The police also recovered from them a stolen Range Rover belonging to the victim.

Oluchi, who works with an undisclosed bank, has a child for her husband, before their marriage hit the rocks recently.

The state Commissioner of Police, Ahmed Iliyasu, who paraded the suspects at the police headquarters, Eleweran, Abeokuta, said manhunt had already been launched for the third suspect, who was still at large.

Iliyasu disclosed that the female banker was arrested on Tuesday after policemen intercepted the suspected assassins in Ijebu-Ode while attempting to escape to Onitsha in Anambra State.

He told journalists that Oluchi had hired three suspected assassins to eliminate her husband in his residence at Ayobo area of Lagos State.

The commissioner ex-

Oluchi (third right), Chigozie and Ofotele

plained that the couple had been having issues with their marriage which forced them to separate.

He said both were still in court fighting over the custody of the only child of the union, when the aggrieved wife allegedly hatched the plot to kill her husband.

According to him, the banker went to her husband’s residence and hid machetes, iron rods and acid solution to be used in the operation.

Iliyasu added that the assailants carried out their operation on Wednesday, October 19 and laid siege on the residence for about 30 minutes after their

target arrived from work.

He said: “She later described where the weapons were kept to the assailants. The suspects went there as planned, attacked the man (Tochukwu) several times on his head and poured acid on him.”

The police chief noted that it was the offensive odour

abiodun.bello@newtelegraphonline.com 08023938212

which oozed out from the suit worn by the victim when the acid touched it that made the suspects to quickly abandon him and took away his Range Rover.

However, Tochukwu survived the attack although with deep cuts all over his head.

Thinking the deed had been done, Oluchi reportedly instructed the assailants to deliver the jeep to her brother at Upper Iweka, Onitsha, Anambra State.

Luck, however, ran out on them when some policemen on patrol sighted the jeep on Ijebu-Ode-Benin Expressway and stopped it for search.

Iliyasu said while searching the vehicle, blood stains were seen and both Nworie (32) and Ofotele (36) were unable to give satisfactory explanation, thus leading to their prompt arrest.

He said the assassins, during interrogation, revealed what transpired between them and Oluchi as well as the victim.

But Oluchi, while fielding questions from reporters, denied ever plotting to kill her husband of three years.

She said: “Though he has practically taken me back to my parents since January but we still communicate. I have a daughter for him and I think the communication provider should be able to trace the communication.”

However, the leader of the assailants, Nworie, maintained that Oluchi indeed sent them to eliminate her husband, with a promise of purchasing a “Tokunbo” car for each of the assassins after a successful operation.

Police investigators also said there were call logs which gave hint of Oluchi’s communication with the assailants.

City Briefs Man abducts, defiles 14-year-old girl Ooni hosts book launch on Thoughts from the Source Dan Atori MINNA

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35-year-old man, Mohammed Abass, has allegedly abducted and defiled a 14-year-old girl, Ramatu Mohammed, at Barki Salle area of Minna, Niger State.

The state Police Public Relations Officer (PPRO), Mr. Bala Elkana, said Abass raped the teenager on Saturday evening.

According to Elkana, the suspect promised he would give the girl the money which she lost so that her parents would not beat her.

It was learnt that the girl went with Abass to his house believing that he would fulfil his promise

to give her the money she had lost.

However, she was said to have been hypnotised and lured into a room by the suspect.

It was also disclosed that the victim, who lives with her mother, could not go back home until the following day after she had been defiled. Ramatu was said to have bruises in her private.

When she did not return home, her parents reported at the police station and she was declared missing.

Elkana said the police had commenced investigations into the matter after the suspect was arrested.

He said after the investigation, the suspect would be arraigned.

O

oni of Ife, Oba Adeyeye Ogunwusi, at the weekend host the public of a book written by Lagos-based politician and advertising practitioner, Hon. Ipoola Omisore at the Oba Okunade Sijuwade Memorial Hall, Enuwa Square, Ile-Ife, Osun State.

This is coming barely two weeks after the Ooni hosted African indigenes and Yoruba descendants in the Diaspora at the Olojo heritage festival.

The book, entitled: Thoughtful Thoughts from the Source, published by Erosimo International Limited, Lagos would be launched by

Chief Rahmon Adedoyin, President/founder, Oduduwa University, Ipetumodu in Ife North Local Government Area with Senator Jide Omowoware as principal launcher while Osun State Governor, Rauf Aregbesola, would be the chief host.

Eminent personalities expected to grace the book launch include the Speaker, Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, as the chairman, Asiwaju Oyekunle Alex-Duduyemi (father of the day), Justice Yinka Afolabi, Chief Folashade TinubuOjo (mother of the day),

Chief Muyiwa Omisade, Hon. Bayo Osinnowo, Mr. Peter Oyeladun and Mr. Tokunbo Omisore.

Others are Senator Iyiola Omisore, Hon. Uzamot Akinbile-Yusuf, Lagos State Commissioner for Youth and Social Welfare, Prince Ade Adefioye, Prince Mosadoluwa Omisore and Chief A. Ajilesoro.

The author described the book as a significant platform for the critical engagement of the youth and literary minds on the daily life experience, social values and trends from different perspectives.

THURSDAY, OCTOBER 27, 2016 NEW TELEGRAPH

Emefiele’s wife’s kidnap: Late vigilante’s family, community protest neglect Cajetan Mmuta BENIN

METRO

Soldier loses fingers trying to sniff grenade powder

F

amily members and associates of Gabriel Okorare killed by kidnappers of Mrs. Margaret Emefiele, wife of the Central Bank of Nigeria (CBN) governor, as well as the people of Emuhun community in Edo State yesterday protested their neglect.

The people said Okorare, a vigilante, was killed during the rescue of Emefiele in the forest of Uhunmwode Local Government Area.

Okorare left behind 11 children, two wives and aged mother.

Since his death, the children have dropped out of school because of inability to pay their fees.

The protesters accused the CBN Governor, Mr. Godwin Emefiele, the Inspector General of Police (IG), Idris Ibrahim, and the Federal Government of being insensitive to the plight of family of the late Okorare.

Emotions ran high as hundreds of family members of the deceased, Emuhun community elders and members of the community vigilantes unsuccessfully fought tears during the protest to the Secretariat of the Nigeria Union of Journalists (NUJ) Edo State Council and the state Police Command Headquarters in Benin.

Mrs. Emefiele, her driver and three other women were kidnapped on September 31 near a village in Uhunmwode Local Government Area on Benin-Agbor Road.

The victims were dragged into a nearby bush while the vehicle carrying them was abandoned.

The gunmen later demanded N100 million as ransom.

But following an urgent order by the IG, policemen, officials of the Department of State Services (DSS) and vigilantes from Emuhun community combed the bush which led to Emefiele’s rescue.

But Okorare, one of the vigilantes, was killed in the process.

His body was deposited at Abudu Hospital morgue since then without anyone consoling the family over the loss of their breadwinner, almost a month after.

Cultists snatch cars, loot shops Ola James Warri

S

everal people were wounded while property believed to worth thousands of naira were destroyed yesterday in Warri, Delta State when rival cult groups engaged in a bloody clash.

The cult members from Ogedegbe and Agbassa axis of Warri metropolis brandished guns, machetes and other dangerous weapons.

It was learnt that the cult groups were fighting over land located between the two communities.

Consequently, valuables such as vehicles parked on the busy Warri-Sapele Road and tricycles were badly damaged just as several stores were looted.

Besides, the hoodlums had a field day by stealing money, mobile phones and valuables from defenseless citizens who were caught unawares by the violence.

It was learnt that two Toyota Prado jeeps were snatched by the hoodlums before the arrival of policemen from Area Commanders Office and ‘A’ Division, Warri.

Commenting on the issue, the Area Commander, ACP Muazu Mohammed, warned that youths who took the law into their hands would not be spared.

Mohammed told journalists that on hearing the incident, he quickly sent his men to the area to quell the situation.

The injured hands

Our Reporter

A

soldier at Mogadishu Cantonment popularly known as Abacha Barracks in the Federal Capital Territory (FCT), Abuja, has lost about four fingers when a grenade exploded in his hands.

The victim and three others, sources said, were trying to remove the powdery content of the hand gre-

nade for sniffing to be high when it exploded.

While the victim is being treated at the hospital, the three others are currently being interrogated by the military authorities for unauthorised possession of firearms.

A military source told our correspondent yesterday that the soldiers were being locked in the barracks’ guard room.

The incident, according to the

9

source, took place on Tuesday inside the barracks when they wanted to open a 36-hand grenade so they could inhale the powder inside in order to make them become high.

“The accidental explosion did not claim life but people got wounded.

One of them even lost about four fingers,” the source said.

The source disclosed that 20 live rounds ammunition of Uzzy rifle were also found in their room “Yesterday (Tuesday), at Abacha Barracks, a hand grenade exploded in the hands of some military guys who were trying to open it. They intended removing the powdery content for sniffing to be high,” the source added.

The soldiers are identified as Lance Corporal Ali Mustapha, Privates Stanley Felix, Maiyaki (who sustained injuries) and Yusuf Dambo.

“The soldiers wanted to carefully open a 36-hand grenade so they could inhale the powder inside in order to make them become high. Unfortunately, in the process, the grenade exploded. Now all of them have been locked up in the guard room for further investigation on how they got the grenade and the ammunition. The wounded soldier is being treated at our hospital,” the source added.

Police uncover fraudsters’shrine in Ogun community Kunle Olayeni and Taiwo Jimoh

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etectives attached to the Zonal Intervention Squad, Zone 2, Onikan, Lagos State, yesterday discovered a shrine used by fraudsters at Abule Ifa in Obafemi Owode Local Government Area of Ogun State.

Two of the ring leaders of the syndicate, who used the den as hideout to defraud innocent people, were arrested.

The Commander of the Zonal Intervention Squad, a Chief Superintendent of Police, Gbenga Megboope, led the Assistant Inspector General of Police (AIG) in charge of the zone, Abdumajid Ali, and the state Commissioner of Police, Ahmed Iliyasu, to the shrine.

The operatives had monitored the suspects in the community for a month.

During the raid yesterday, the police arrested the ring leaders, Kayode Oseni (52) and Taiwo Adeleke (47).

The Zonal Police Public Relations Officer (ZPPRO), SP Muyiwa Adejobi, said the police recovered a massive edifice with several fetish objects,

charms, shrine and some inscription that indicated names of prominent dignitaries who had fallen victims to the suspects.

He said: “The visit to the scene by the AIG was to design a possible means of taking over the dangerous den. The AIG also reiterated his readiness to set all machineries in motion to tackle crime and criminality with-

in the zone.”

Ali, however, said all necessary legal steps would be taken to take over the structure and dislodge the syndicate.

He urged the residents of the community to be more vigilant about people who come around for such deal.

The AIG also ordered that the suspects be arraigned.

The suspects

Gunmen kidnap Zamfara LG vice-chairman, demand N10m Idris Salisu Gusau

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unmen suspected to be kidnappers have abducted the ViceChairman of Anka Local Government Area of Zamfara State, Alhaji Yahuza Wuya.

The kidnappers stormed Wuya’s residence at Wuya village about 2p.m. on Tuesday.

The local government Chairman, Alhaji Mustapha Gado, who made the disclosure in a telephone interview yesterday, said the bandits forced

their way into the victim’s apartment through the window, jumped into his bedroom and whisked him away.

The chairman added that he had contacted all relevant authorities and family members to ensure Wuya’s release.

He said: “I have just finished talking with the kidnappers when you called. They first demanded that N10 million ransom must be paid before he is released. I told them we do not have that money, they said we should pay N7 million and then beat the ransom down by themselves to N5 million. They threatened to take drastic

action if the ransom is not promptly paid.”

The chairman, however, promised that measures were being taken to curb the menace of kidnapping in the area.

He called on the security agencies in the state to intensify efforts to curb the insecurity challenges facing parts of the state, particularly Anka, Bukkuyum, Gummi and Maru local government areas.

The Project Manager of Bakolori Irrigation Project, Malam Lawal Maidoki, and 15 others were abducted recently. He was released last Monday.

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News|NATIONAL

THURSDAY, OCTOBER 27, 2016 NEW TELEGRAPH

Mass sack in oil industry: Unions give FG 21-day ultimatum

Mojeed Alabi

T

wo major workers’ unions in the nation’s oil and gas industry have issued a 21-day ultimatum to the Federal Government to either halt the ongoing mass sack of its members within the sector or face strike action.

The unions are the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG)

and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).

Addressing journalists in Effurun, Delta State, yesterday, shortly after the meeting of the union’s Central Working Committee, CWC, the National President of NUPENG, Igwe Achese, said government must do something urgently to stop the mass retrenchment of its members to avoid grounding the industry.

According to Achese, most of the companiesChevron Nigeria Limited, ExxonMobil, Pan Ocean, Sapiem, and Hercules Oil and Gas Limited, among others – have terminated the appointment of over 3,000 of their workers apparently over the current economic recession in the country.

“More than 3,000 of our members are affected. Chevron alone is about 1,500; Mobil is

CONFIRMATION/change OF NAME

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OBIAHU

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UZOARU

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EZE

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about 1,000; the entire workers of Hercules Oil & Gas are being asked to go home; Pan Ocean have since closed shop and are gone,” Achese said.

He added; “We are now asking ourselves where are we heading with the industry.

We have lost so much of Nigerian personnel working in the oil and gas industry. What is happening in Nigeria cannot be compared to what is happening in other African countries.

We want government to wake up and address some of these issues.”

Achese said if govern-

ment failed to act and direct the oil companies to stop ongoing retrenchment of their members in the sector, they would be compelled to act to protect their interest.

“It is painful to say as I address you, Chevron has wound up in the East and their offices closed.

A total of 1,500 workers were sacked without their entitlements. Nobody is saying anything about it. As we speak, many companies have left and many others are winding up to go.

“The Federal Government should act fast to avert further loss of jobs. There is too much redundancy in the oil industry, which needs urgent action from government to salvage the situation,” Mr. Achese said.

DISCOs: No plan to increase electricity tariff

T

he Association of Nigerian Electricity Distributors (ANED) yesterday said it had no plan to increase the current tariff being paid by consumers.

Mr Sunday Oduntan, ANED’s Executive Director, Research and Advocacy, disclosed this in a telephone interview with the News Agency of Nigeria (NAN) in Lagos.

He said that the Distribution Companies (DISCOs) had not submitted any proposal to the Nigerian Electricity Regulatory Commission (NERC) on tariff increase.

Gowon, Idika Kalu, Ozekhome, others for governance conference Isioma Madike

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he Director-General, Centre for Democratic Governance (CDGA), Dr. Dafe Akpocha, has said that good governance remains a panacea for development, especially in Africa.

Akpocha said this when he led a two-man delegation of the organisation to New Telegraph Newspaper yesterday.

He said the organisation was embarking on a

media sensitisation tour as a prelude to the coming Annual Lecture Conference with the theme: “Global recession as it affects good governance: Nigeria as a case study” billed for November in Abuja.

Akpocha stated that those who have confirmed participation in the coming conference included former Head of State, General Yakubu Gowon (Rtd); former Finance Minister, Kalu Idika Kalu, and a fore-

$244.24m $193.49m The capital importation of the Banking sector of Nigeria in Q3 2015.

Source: National Bureau of Statistics

The capital importation of the Banking sector of Nigeria in Q4 2015.

Source: National Bureau of Statistics

Court hears Jonathan’s $200m suit against EFCC, others Dec 7 Akeem Nafiu

J

ustice Babs Kuewumi of the Federal High Court, Lagos will on December 7 commence hearing in a $200 million suit filed by former First Lady, Patience Jonathan, against the Economic and Financial Crimes Commission (EFCC) and change OF NAME

Ojo

I, formerly known and addressed as Oluwatoyin Abosede Akeju now wish to be known and called Oluwatoyin Abosede Segun Ojo. All former documents remain valid. General public should note.

Raufu

I, formerly known and addressed as Miss Temitope Mojirayo Afolabi now wish to be known and called Mrs. Temitope Mojirayo Raufu. All former documents remain valid. General public should note.

six others seeking to unfreeze her account.

Skye Bank Plc and a former Special Assistant to former President Goodluck Jonathan, WaripamoOwei Dudafa, were joined as co-respondents in the suit.

Other respondents are; Pluto Property and Investment Company Ltd, Seagate Property Development and Investment Company Ltd, Transocean Property and investment company Ltd and Globus Integrated Service Ltd. In a fundamental rights enforcement suit, Jonathan is claiming the sum of $200 million from the EFCC as damages for infringing on her rights.

She is also urging the court to issue an order vacating the freezing order and restrain the EFCC and its agent from further plac-

most human right lawyer and Senior Advocate of Nigeria (SAN) Mr. Mike Ozekhome, among others.

The Director General stressed that the Centre, which was established in 1997, picked New Telegraph for the visit because of the high quality of its reporting.

He used the occasion to praise the efforts of some state governments that have decided to look inwards in this time of recession.

He said: “We would like to see other state governments emulate what is happening in Anambra and Kebbi states, instead of always going cap in hand to sustain their states.”

ing a freezing order on the said accounts.

At yesterday’s proceedings, EFCC’s lawyer, Rotimi Oyedepo, informed the court that some of the respondents were yet to receive the court processes on the matter.

He added that he was only served with court papers on October 19 and that he was yet to file his response. He later sought for an adjournment saying the matter was not ripe for hearing.

Responding to the allegation that Jonathan’s accounts were frozen without a valid court order, Oyedepo insisted that due process was followed before the action was taken.

In his response, Patience Jonathan’s lawyer, Granville Abibo (SAN), informed the court of his client’s application and the reliefs being sought. He also pleaded with the court for an adjournment to enable him serve the respondents in the suit.

11

THURSDAY, OCTOber 27, 2016 NEW TELEGRAPH

Okafor We suspended Oye to save APGA

Politics

Aduwo Political godfathers would be demystified in Ondo

13 14

APC won’t survive beyond 2019 – Okwu Chief Maxi Okwu, a former chairman of the Conference of Nigerian Political Parties (CNPP), in this interview with TEMITOPE OGUNBANKE, speaks on the registration of new political parties by the Independent National Electoral Commission (INEC) and state of the nation The Independent National Electoral Commission (INEC) recently registered 10 political parties bringing the number of parties to 40. What is your take on the development?

I have seen the list and they are not new political parties; they were parties deregistered by INEC in the past. After series of legal cases, INEC is now re-registering or restoring those parties in batches. The parties were those in INEC books years back and the electoral body irresponsibly deregistered them.

From my experience, most of the fringe parties don’t have chance of winning elections, and in the next four years or thereabout, I don’t see how they can make it. The political space is now crystallising around two dominant parties and may be a weak third party. Unless there is some displacement, which I doubt, I don’t see the new parties going far.

I have been there and I can tell you that a lot of things are required for a political party to make impact during election. A party must win an election for it to remain relevant and for any party that doesn’t have senators and mostly a governor don’t really have much chance.

They will only be around making noise as glorified Non-Governmental Organisations (NGOs) and civil society organisations. They cannot make much impact in the elections because of the difficulty to mobilise resources required.

The populous parties of old like the National Council of Nigerian Citizens (NCNC), Action Group (AG), Northern Elements Progressive Union (NEPU), United Middle Belt Congress (UMBC) and others that were funded by members and got patronage from members who were in public office like ministers and members of corporations are no longer in existence. Hardly will you get members of political parties of today paying dues. So, I don’t see the new political parties going far; they will end up in the books with-

FELIX NWANERI

GROUP PoLITICAL EDITOR nwanerif@yahoo.com

© Daily Telegraph Publishing Company Limited

out winning any election.

Don’t you see the new parties benefiting from the present crisis rocking the two main parties – All Progressives Congress (APC) and Peoples Democratic Party (PDP)?

Of course, the PDP like I predicted will survive but they cannot recover; they cannot regain the lost glory. In fact, you can see how the Ahmed Markarfi and Ali Modu Sheriff camps are factionalising the party.

But, with some key political personalities still remaining in the party, I see a realignment of forces down the line, may be from next year and towards 2019. For the APC, there are already some centrifugal forces operating in the party and there is a division. The APC will split into groups immediately it conducts its first postelection convention. There would be sharp divisions because even though there was a merger, there was no bonding. The Congress for Progressive Change (CPC) camp led

by President Muhammadu Buhari is trying to take advantage because it produced the president. The Action Congress of Nigeria (ACN), which is the tactical and strategic wing, is feeling marginalised. The All Nigerian Peoples Party (ANPP) is neither here nor there. So, I see a major friction as soon as they conduct their first postelection convention.

What makes you think that APC will not survive its first post-election convention?

APC cannot survive up to 2019 because there would be some splinters after its first post-election convention. I see some regrouping that will create or result in the emergence of the alternative to the APC come 2019 because the progressives have been once again cheated out of power. The progressives moved into the Social Democratic Party (SDP) during General Ibrahim Babangida’s transition programme, but it was conservatives like Shehu Musa Yar’Adua and Babagana Kingibe, who indirectly took over the structures of the party. MKO Abiola was not a progressive; he was a former member of the National Party of Nigeria (NPN), a businessman and conservative, but somehow, he emerged the presidential candidate of the party because of his financial might.

This time around, most of the progressives came from the CAN, but the CPC, which is a conservative group, is now in control. So, I see the

Okwu

true progressives coming together to bring the real change and not just change in slogan. The change that we want may be the new agenda for 2019.

APC will split into groups immediately it conducts its first postelection convention

Are you saying a stronger party may emerge before 2019?

Yes, from the ashes of disintegration, I see a strong and progressive movement emerging. I am interested in that personally. A new strong party will emerge because the PDP is weakened and the brand is as good as over. The PDP brand is gone and like I said, they can survive but they can’t recover. The APC will unknot because the legacy parties that merged to form the party never bonded. The agenda of going into the election is to throw out the PDP, particular former President Goodluck Jonathan. The agenda was achieved but division has now come out in sharp contrast.

Are you projecting that neither APC nor PDP will win 2019 elections?

Yes! Unless there is massive rigging and strong arms tactics by the Federal Government, which from the trends, cannot be ruled out. A lot of people are being arrested for one thing or the other and there are lots of breaches to fundamental rights and due process. So, if the Federal Government decides to use very strong arms tactics, it may wangle itself back to power, but if it is a free and fair contest, I don’t see the current APC winning election in 2019.

Why did you think so?

I say so because it has totally breached all the rules of engagement in terms of service delivery.

They went into last general elections with a lot of promises and what we are hearing now is that they never made those promises.

They have violated the social contract upon which they were elected by denying many promises during the campaigns for the last year general elections. All the promises they made have been cancelled from naira equalling the dollar to feeding of primary school pupils. It is as if no promise was made and all the key points on which they won the election have been denied.

Nigerians have learnt their lesson and next time, it won’t be a question of who said or who did not say.

The presidential candidate or the party must come out with a clear manifesto, so that nobody will deny his party’s manifesto. The problem now is that the president is saying that he was not privy to some of the promises made by members of his party. There was never a debate like we are seeing in the United States, where the two major presidential candidates – Hillary Clinton and Donald Trump – are reeling out their agenda and telling the people what they will do if they become president.

Anybody who wants to be president or governor in Nigeria must come out and say clearly what he wants to do, so that he won’t deny what he promised. And if he wins, it will become a social contract. Right now, the APC has violated its social contract with the people of Nigeria and they are doing what they like.

After over 17 months in office, many Nigerians are not satisfied with the Buhari government because of the hardship and other problems in the country. How would you assess his administration?

It appears from what we are seeing that the president was not prepared for governance. In fact, it is CONTINUED ON PAGE 12

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POLITICS

THURSDAY, OCTOber 27, 2016 NEW TELEGRAPH

Oke receives APC, PDP members into AD S ome members of the ruling Peoples Democratic Party (PDP) and opposition All Progressives Congress (APC), yesterday, dumped their respective parties for the Alliance for Democracy (AD).

The members who decamped in Irele Local Government Area in Ondo South Senatorial District said they took the action in order to help the AD governorship candidate, Chief Olusola Oke, realise his ambition.

Oke who received the decampees assured the people that only AD can liberate the state from the bondage, which it has been subjected to.

According to him, “the indebtedness, neglect,

deprivation, starvation, regression and poverty,” which had become the lot of the state under the Olusegun Mimiko administration had compelled the people to yearn for real change, which he said only the AD will provide after winning the November 26 governorship election.

“AD is the only hope of the people of the state and it is showing from the massive support we have been receiving in the short time,” he said.

He added that the party will restore the lost glory of the state through equitable distribution of wealth, resources and projects, assuring the people of Ondo South Senatorial District of a new lease of life.

Parties sign peace accord Stories by Babatope Okeowo Akure

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wenty-eight political parties participating in the November 26 governorship election in Ondo State, yesterday, signed a peace accord aimed at ensuring peace before, during and after the election.

The political parties including the Peoples Democratic Party (PDP), All Progressives Congress (APC), Alliance for Democracy (AD), Social Democratic Party (SDP) and Democratic Peoples Party (DPP), among others agreed to re-

spect the rule of law and abide by the provisions of the Electoral Act. They also agreed to run issue-based campaigns and thereby refrain from campaigns of calumny capable of inciting violence.

The chairmen, secretaries, legal officers and candidates of the political parties signed the pact in the presence of the state Commissioner for Police, Mrs. Hilda Ibifuro-Harrison.

The police boss, who stressed the importance of security during the election, said peace cannot be over-emphasized because the more security is put in place, the more massive turn-out for voting by the people.

ONDo DECIDES

Ibifuro-Harrison, who announced that over 24, 000 officers would be deployed from the Force Headquarters for the poll, lamented that despite the series of peace talks with party chieftains and stakeholders, the reported violence and assault in Owo still occurred.

She declared that the

police are on the trail of the suspected hoodlums, but assured that law will catch up with them. She added that the command will continue to step up efforts in the 47 police divisions and three area commands in the state, so that the governorship election will be be violence-free.

The governorship candidate of the DPP, Mrs. Olamide Falana and state chairman of the SDP, Chief Korede Duyile, lauded the police for its proactive measure.

Falana and Duyile, alongside others, urged the police to ensure that financial inducement at polling units is prevented during the election.

APC won’t survive beyond 2019 – Okwu CONTINUED FROM PAGE 11

like he never thought that he would win the presidential election. He is a serial contestant and luckily or somehow, he won during his fourth attempt, but we have found out that he had no plans. A serious candidate would have had a blueprint from day one. I would have thought that from 2003, there would have been a blue print, which he prepared for governance. After losing the 2003 presidential election, all he needed to do was to have updated the original game plan.

Whenever you want to run for office, there are certain things you have in mind and you can call some experts to put things together for you and you look at it and say this is my vision and mission.

In 2007, he ought to have updated his blueprint because there would be new realities different from those of 2003. He should have done the same thing in 2011 and further updated his blueprint in 2015.

For example, the burning

issues before the country now are restructuring and self-determination. So, any person running election for presidency in 2015 should have had a position on that.

The issue of state police is also very critical now because there is so much insecurity in the country and any serious candidate should have had a position on policing, fundamental human rights, welfare and social justice.

These issues should have been updated after every election cycle, so that as soon as you get into office, you hit the ground running. You don’t waste six months appointing ministers and after the long wait, you didn’t come with a crack team. Obviously, you can see that the man on top seems not to have had a clear vision of where he was going and that is reflecting in what is happening in the country now. Buhari was never prepared for governance and incompetence is worse than corruption. So, we are going into depression from recession.

Akeredolu

he governorship candidate of All Progressives Congress (APC) in Ondo State, Mr. Oluwarotimi Akeredolu (SAN) has asked the people of the state to join other South-West states in the mainstream politics of the Nigeria.

Akeredolu told the people of Odigbo Local Government Area of the state in the South Senatorial district to help put the state back into the mainstream of Nigerian politics like their counterparts in Lagos, Osun, Ogun and Oyo states.

He charged the people to reject the Alliance for Democracy (AD), which he described as a dead party and the Peoples Democratic Party (PDP), saying it had brought untold hardship to the people of the state.

According to him, the people of the state deserve a party at the center that will help government bring succour to the people of the state.

He said the Dr. Olusegun Mimiko-led government has failed to fulfill its responsibility to the people of the area. He

Oke

Sheriff, Oladipo bicker over Ibrahim’s ambition Onyekachi Eze ABUJA

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risis is brewing in the camp of factional National Chairman of the Peoples Democratic Party (PDP), Senator Ali Modu Sheriff over the candidature of Mr. Jimoh Ibrahim for the November 26 Ondo State governorship election.

Sheriff has factionalised the PDP since May this year when the party’s National Convention in Port Harcourt, Rivers State, dissolved the former Na-

Ondo must join mainstream politics – Akeredolu

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Jegede

added that even after spending almost eight years in government with Mimiko, the PDP candidate, Mr. Eyitayo Jegede, has no idea to move the state forward.

tional Working Committee (NWC) and appointed a National Caretaker Committee headed by former Kaduna State governor, Senator Ahmed Makarfi to run the affairs of the party.

Among former NWC members still with Sheriff are Prof. Wale Oladipo (former National Secretary) and Alhaji Adewale Adeyanju (former National Auditor). But it appears that Sheriff and Oladipo’s relationship is becoming frosty.

The former Borno State governor, through his Special Adviser, Media, Inuwa Bwala, on Tuesday, said he would not arm-twist the Independent National Electoral Commission (INEC) to recognise Ibrahim as PDP’s candidate for the election.

The two factions of the PDP had submitted two names - Eyitayo Jegede and Jimoh Ibrahim to INEC fol-

lowing a parallel primary.

The commission is expected to publish the names of qualified governorship candidate tomorrow.

Bwala had stated: “Sheriff wishes to state that, as a law abiding leader, he is bound by whoever INEC publishes, as both candidates in contention are respectable members of the PDP, and he will treat their issues based on merits and in accordance with the law.

This was interpreted to mean that Sheriff supports Jimoh Ibrahim, who was produced by his faction. But, Oladipo in a statement yesterday described the statement as “mischievous.”

He said: “The statement in question is false and Senator Sheriff stands solidly behind and in total support of Barrister Jimoh Ibrahim as the

only authentic PDP candidate in the November 26 election in Ondo State.

“The NWC therefore calls on all PDP stakeholders in Ondo State and the Independent National Electoral Commission to respect and abide by the orders of the court and recognise Barr. Jimoh Ibrahim as the PDP governorship candidate in Ondo State.”

Oladipo, who later addressed a press conference with Ibrahim, threatened to initiate contempt charge against INEC if it fails to recognise the latter as Ondo PDP governorship candidate.

In a swift reaction, Bwala said Sheriff was not aware of any press conference and accused Oladipo of trying to sacrifice Sheriff ’s political interest because of Ibrahim’s ambition.

APGA ratifies Adegbite as governorship candidate Johnchuks Onuanyim Abuja

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he National Working Committee (NWC) of the All Progressives Grand Alliance (APGA) led by Ozo Nwabueze Okafor, yesterday, rati-

fied the candidature of Chief Samuel Adegbite as the party’s governorship candidate in Ondo State.

Rising from its meeting in Abuja, the committee reiterated that the suspension of the party’s national chair-

man, Dr. Victor Oye, remains valid.

According to a communiqué issued at the end of the meeting, the committee said that Oye’s suspension became inevitable in order to save the party from collapse.

The communiqué, signed by the Acting National Chair man, Ozo Nwabueze Okafor, returned Elder Godfrey Ehimhen as the Edo State chairman of the party.

The NWC said he was unlawfully suspended.

POLITICS \ INTERVIEW

THURSDAY, OCTOber 27, 2016 NEW TELEGRAPH

The National Working Committee (NWC) of the All Progressives Grand Alliance recently suspended Chief Victor Oye as national chairman.

What prompted to the action?

The action of the members of the NWC was an effort to save the party. It was actually a culmination of series of actions and efforts of the committee as the critical organ of the party saddled with the day-to-day running of the party to save APGA from the road to extinction that the suspended national chairman was taking the party on. The list of the activities of the suspended national chairman is unending. He seems to undermine the growth and development of the party. Our constitution has been abandoned, the NWC has been abandoned and the party ran as a personal enterprise. And all our effort to get the suspended chairman to act according to the constitution of the party failed.

So, the NWC members were left with no other choice than to save the party from further slide. We had to take the drastic measure of suspending him, if only that would restore sanity.

But Anambra State governor, Chief Willy Obiano, has intervened and asked that the suspension be rescind.

Well, the Anambra State governor who is the chairman, Board of Trustees (BoT) and national leader of the party intervened and called for a meeting to find a peaceful resolution to the crisis.

He also made appeal for all parties to sheathe their swords for peace to reign in the party. From the time the governor declared his intention to seek a peaceful resolution to the crisis, the NWC members, who suspended the chairman resolved to take actions to de-escalate the tension already generated and to ensure that the issue remains an internal affair of the party. We therefore chose to stay off the media, waiting for the intervention and resolution of the elders of the party led by the BoT chairman and national leader.

We had a meeting with the governor who did all within his powers to see the resolution of the crisis. But while we were still trying to chart the way to a peaceful resolution of the crisis as canvassed by the national Leader and other well-meaning members of the party, the suspended national chairman went haywire and called the people, who legally and constitutionally suspended him dissidents, rebels, renegades. He said we were settled with spaghetti, egusi soup and money so as to abandon the course we have taken. We actually took serious exception to that.

And that was why we had come to a painful decision to come open to enlighten the public for the first time on what was going on. We regret doing this, having taken all necessary steps to ensure that all issues concerning this be treated within the party, but Dr. Oye has made things practically impossible.

We have to now intimate the general public of all the key issues that led to the suspension of our national chairman; because in all our engagements with him even within the period of intervention by the party elders, the

13

shall be responsible for the dayto-day running of the party, and make electoral provisions and guidelines to govern the nomination and selection of candidates for different elections. That has not been observed in the nomination of governorship candidates in Edo, Kogi, Ondo and Bayelsa states. The NWC had not been involved in such nominations.

In fact our constitution has been implemented only in the breach by the suspended national chairman and that constitutes gross misconduct.

Were there efforts by the NWC to call him to order?

After several attempts to make him turn around; after several appeals for him to turn a new leaf were rebuffed because he considered himself as the overlord, we felt that enough is enough. We moved to save the party from the impending doom. We felt that it would not help the party to continue to leave him in the saddle.

And since the National Convention of the party had mandated us to see to the day-to-day running of the party, we will be failing in our duty if we do not put a stop to his maladministration.

That was what culminated in his suspension.

Okafor

Okafor: We suspended Oye to save APGA Acting National Chairman of All Progressives Grand Alliance (APGA), Ozo Nwabueze Okafor, speaks in this interview with TONY EMMANUEL on the recent crisis that rocked the party, which led to the suspension of Chief Victor Oye by the National Working Committee (NWC) of the party suspended national chairman was never able to disprove any of the allegations leveled against him. Not even one was disproved.

None of the several constitutional breaches for which he was suspended was disproved; rather he went on a self-destruction journey of name calling, intimidation, and harassment, which would not in any way solve the problem. So, the peace moves made by the national leader and BoT chairman of the party has been personally aborted by the suspended national chairman, who chose to go haywire to cast aspersions and unleash unkind words on our persons by calling us derogatory names, never-dowells and so on.

I don’t know how he came to that because members of the NWC who suspended him, are all very distinguished men and women. We are all much more distinguished than himself. We have all collectively and individually served our country in various capacities. Realistically speaking, he’s the one that can be said to have doubtful and questionable antecedents because we don’t know where he came from.

We don’t know the elections he has ever contested and won, or the positions he has ever held.

How do think this crisis could be resolved?

The members of the NWC have

After several appeals for him to turn a new leaf were rebuffed... We moved to save the party from the impending doom

decided and resolved to sustain his suspension. His suspension stays and subsists until otherwise decided. We wait for the National Executive Committee (NEC) of the party to ratify it, because it is funny to hear him say we do not have the powers to suspend him.

According to our constitution, under Special Circumstances, the NWC can suspend any officer of the party for gross misconduct. And any officer includes all the officers starting from the national chairman down to the other members of the NWC. And at a validly constituted NWC meeting summoned by him (the suspended chairman), a motion was moved by the National Youth Leader, Engr. Chuks Nwoga and seconded by the Deputy National Welfare Officer, Alhaji Ahmed Hamman Furu from Adamawa State, requesting for the national chairman’s suspension for gross misconduct as enumerated.

He was there and presided over the meeting. He tried to create a rancorous atmosphere to disrupt the meeting, but he couldn’t. The motion sustained.

When there was no counter motion, he was therefore validly suspended according to Article 20 of our Constitution. There is no doubt that he has had a lot of conducts that were inimical to the growth, image and development of the party. Our constitution in Article 12(3a) said that the NWC

But Dr. Oye said he can only be suspended by a special convention summoned for that purpose…

Article 22(2) of APGA Constitution says: ‘Any officer of the party at all levels who fails to discharge his or her duties as at when due or whose utterances or activities run counter to the spirit and letters of this Constitution shall be suspended from office indefinitely pending the determination of his case by the relevant organs of the party.’

You were accused of being sponsored by some politicians in the state to carry out this action to truncate the second term ambition of Governor Obiano in 2017. How true is that?

That is not true. We acted in the interest of saving the party we have all staked a lot of time, resources and energy to build.

What can anyone give to 29 distinguished officers? Well, I won’t be surprised to learn that such frivolous allegation was authored by the embattled suspended national chairman. But the question remains: Did he commit any or all of the offences we listed?

He has the opportunity to defend himself, not calling us or other members of the public names.

What can assuage the situation?

We acted in the party’s interest, which supersedes the personal or selfish interest of any member. We have no interest in who replaces Dr. Oye. The party elders, stakeholders and the teeming members of the party can choose whoever they deem fit, capable and well tutored in party administration. Even, the national leader can choose whoever he feels he would be comfortable with, even if it is his own brother. Once it is ratified, we will have no problem with it. But we can no longer work with the suspended chairman.

Any move to retain him simply means the end is near for the party.

14

POLITICS \ INTERVIEW

Mr. Olufemi Aduwo is the National Coordinator of Rights Monitoring Group (RMG). In this interview, he speaks on the state of the nation and the forthcoming governorship election in Ondo State, among other issues.

WALE ELEGBEDE reports What is your take on the raid on the residences of some judges by operatives of the Department of State Services (DSS) over allegations of corruption?

We have all agreed that Nigeria is in this situation because of corruption. Our people are wallowing in extreme poverty because our commonwealth is being cornered by some few. So, we must start to fight corruption in order to start putting our nation on right path. How can someone tell us that they planted money in his house, what sort of argument is that? A judge involved in corruption is worse than 20 armed robbers. I always say that we have two types of courts in Nigeria. We have the court of law and court of justice. The court of law is a black market where the highest bidders trade in, while the court of justice is where justice is.

People like the late Justice Akinola Aguda, Justice Niki Tobi, Justice Chukwudifu Oputa, Justice Kayode Esho and others operated in the court of justice. We are not saying all the jurists are corrupt but when you have few that are corrupt, then much is left to be desired. I don’t know why Justice Mohammed Liman should be hiding after someone helped him to escape arrest. Shouldn’t he turn himself to the police after that incident if he truly has nothing to hide? So, it is not the modus operandi of the security agencies that matter, the question is: Have they soiled their hands in the course of their duties?

Don’t you think the rule of law is being undermined….

The rule of law is not something that is absolute in that manner. If you want to operate a kind of laissez faire democracy, you will land in trouble. The United States did not wait for talks even with its allies talk less of the whole world before invading Iraq. I am not encouraging brutality in democracy but the reality is that democracy has its own internal working mechanism. You can’t grow as a people when you apply rule of law on issues of massive corruption. Someone stole billions of naira and because of the Economic and Financial Crimes Commission (EFCC) law of plea bargain, he can’t go to jail for more than five years. Is that not a dubious law? The rule of law can only operate when the society is ready to match its understanding with the provisions of the law.

What do you make of the altercation between President Muhammadu Buhari and his wife over the his style of governance?

I think Mr. President did not understand the terrain he found himself in that response to the wife’s interview. We must also dig deep if

THURSDAY, OCTOber 27, 2016 NEW TELEGRAPH

Political godfathers would be demystified in Ondo – Aduwo

PDP ratified the appointment as acting National Chairman of the party.

But some governors from what I believed is personal interest, came up with a caretaker committee headed

by Ahmed Makarfi. But every one of them knew there is no room for caretaker committee in PDP constitution. I don’t think someone like Sheriff can be used and dumped owing to his political pedigree.

Aduwo

there is any domestic crisis going on in the first family. The woman kept using the word ‘we as members of All Progressives Congress (APC)’ in her interview, but I can’t tell if she is a member of APC. By virtue of the fact that your husband won the presidency through APC and you are now the first lady does not make you a member of the party.

Your duty does not go beyond involving in humanitarian services.

But dabbling to issues of politics and governance is not expected of you despite that you are entitled to your opinion.

On the other hand, I think the media handlers of Mr. President didn’t do a thorough job. Mrs. Buhari’s interview with the BBC came at least two or three days before Mr. President’s trip to Germany. They should have known that the foreign media will ask questions in that regard. They should have brief him before hand and make him give a soft response like ‘yes, that shows we practice democracy in my house, she is my wife and friend and she is entitled to her opinion but we will look at some of the issues she raised.’ I tell you, he will receive a standing ovation with such comment. Either we like it or not, some of the cabinet ministers will not complete four years and that is natural.

You monitored the recent governorship election in Edo State. What is your assessment of INEC? I think INEC should do more homework about some of the officials they engage as ad hoc staff.

They should work more on these presiding officers and even the professors they draft in for elections.

As far as the governorship election is concerned, the Chief Returning Officer is the REC of the state but it was former INEC chairman, Prof. Attahiru Jega, who introduced this style of bringing in professors

Godfatherism doesn’t work in Ondo State.

Zoning is not written, but there is an agreement that what comes round must go round

to announce the results that have been collated by the field officers.

Something happened in Edo, where a professor said total votes of 10,000 in an area were cancelled because of the malfunctioning of the card reader, but the Supreme Court has ruled that the card reader cannot replace the voters’ register.

Secondly, INEC also gave out incident forms where card readers failed, and if you can find your name in the voters register, you are allowed to vote. So, how could such a number of votes be cancelled because the card readers failed? These professors are not on the field, they just gave them results to go and announce. By and large, there are lots of discrepancies. However, on the positive side, no life was lost. The problem in INEC is not about the commissioners, those involved in manipulation there are purely the staff. I was a member of INEC’s election monitoring board in 2009 and we conducted the Anambra election then under Prof. Maurice Iwu and we knew what happened.

You are a stakeholder in Ondo State and the state of the political parties in the state especially the PDP is not looking good for an election that is less than four weeks away…

I am from the Southern part of Ondo State and I want to tell you that the problem with the PDP is their governors. The party’s only genuinely elected chairman was Solomon Lar, others have been through the backdoor. If the PDP is the one in power, this double candidates issue in my state won’t ever surface.

If you look at the PDP constitution under the tenure of officials, Section 47(6) is clear. When Mu’azu resigned as the party’s chairman, they went to the same North-East he came from and took Ali Modu Sheriff to fill the gap. The National Executive Committee (NEC) of the

What does this portend for Ondo State?

It is on that premises that many of us are saying that Jimoh Ibrahim is the authentic candidate of the PDP, especially with the pronouncement of the court in support of the Sheriff ’s faction. I think the blame should go to the likes of Governor Olusegun Mimiko, who is trying to do what we have never seen before in Ondo State politics by turning into a godfather. But if anyone should place himself in such stride, it should be Chief Olu Falae, but godfatherism doesn’t work in Ondo State. Zoning is not written, but there is an agreement that what comes round must go round in terms of fairness, justice and equity. The late Segun Agagu spent only a term in office and he is from the South. But Mimiko who is from the Central spent eight years; the North had the late Adebayo Adefarati and Adekunle Ajasin, who between them spent eight years. It is natural that Mimiko should allow the contest be between south and north. But he chose to go and pick another person from the Central to start another term. It is not fair, especially given the no or little attention the south got from his eight years of administration. Beyond all these, Mimiko never engaged anyone to tell us the reason why people from the south, Ikale/Ilaje cannot be governor.

Can’t the south look for another alternative platform other than the PDP? You know Ondo is a unique state when it comes to politics and that explains why President Buhari won the election in the state. But you will also know that two weeks after APC’s victory, the PDP was able to win the House of Assembly election. The people of Ondo State are politically conscious and they are enlightened when it comes to politics. What we are saying is that Mimiko should have allowed the PDP primaries to be free and fair without interfering. Do you know that it is over two years now that people have been saying that Eyitayo Jegede will be PDP’s candidate? That shows that it’s a premeditated arrangement.

The crisis within the PDP just happened and we have been hearing that Jegede will take over from him over two years ago. Ondo does not believe in godfatherism, it will not work. Mimiko himself is a product of rule of law. I don’t want what happened between Adekunle Ajasin and Akin Omoboriowo to happen in Ondo State again. This was the same path then, the internal crisis that rocked the then Unity Party of Nigeria (UPN). So, we must all be very careful. If it is true you want to serve, it mustn’t be a do-or-die affair.

POLITICS \ INTERVIEW

THURSDAY, OCTOber 27, 2016 NEW TELEGRAPH

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Forum shopping, jurisdiction, lis pendens: Lessons for Nigerian adjudicatory system

Kalu C O N T I N U E D F R O M Y E S T E R D AY

Silva Opusunju

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he Brussels Convention failed to halt this forum shopping and race to court or acquisition of national advantage because of the limited definition of its Article 27 and therefore the effectiveness of his lis pendens. However the Regulation I (Article 30) addressed these problems by dropping the lodging-system and serving-system and introducing the concept of first public step. It is not just enough to file! The plaintiff must do more thereafter by “… taking the necessary…and reassemble steps to the proceedings.”

The effect of the operation of lis pendens can be discerned in two forms: the first is that it does initiate a compulsory dismissal of a second set of action; and by so doing causes the invocation of the discretionary power of the court to refuse jurisdiction on the basis of forum non conveniens.’’

3.1 Rolling Back Torpedo Actions A great deal of efforts have been devoted to understanding the Brussel Conventions in relation to the parallel suits of same cause in the different contracting states. As would be imagined, lis pendens meant to inject “judicial certainty” and ensure wise use of “judicial resources” have unintended consequences in that its has given rise to the what is known as torpedo actions.

Literature reviewed indicate that a good start to addressing this problem is to examine the procedure of first-come, firstserved which is the pillar of lis alibi pendens rule as provided in Regulation. Note that the Regulation grants national courts the powers to determine the seisin of a court in matters of lis pendens.

Further examination of the development and application of the rule shows that the totality

Magu

Mohammed

of approaches which have successfully aided the maneuvering of torpedo actions, falls into two broad categories as follows: (i) Innovative developments in case law in the area of application of the rule of lis pendens; and . (ii) the latitude given to domestic courts in the interpretation of the first-come, firstserved rule.

The combined effect of i) and ii) above is illustrated in the foregoing paragraphs: 3.1.1 The Determination of Meaning of “Same Cause of Action’’ at Municipal Law Level Call it judicial acrobatics, but the Italian case – Paris District Court, decision, controversial as it was, attempted to overturn torpedo actions. A suit had been filed in Italy for noninfringement, while simultaneously also in France for infringement. The question was whether with regard to Article 27, the lis pendens rule could exist on the basis that both suits have “same cause of action.” The French court applied the reasoning that Article 27 was operative if “the end the actions have in view” were similar. But Italians made a distinction that a claim for non-infringement, and another for infringement have different end-objectives.

3.1.2 The Use of Summary Proceedings by Municipal Systems A criticism of torpedo is that it prolongs cases and leaves parties uncertain for a long time about their status. However, by employing the tactical procedure known as “kort-geding” under domestic German/Dutch systems, cases can be consolidated and summary decisions rendered, until substantive or principal issues in the cases are determined. In this way torpedo actions could be circumvented based on valid pronouncements

Auta

in the form of interlocutory orders of the court. These interim decisions have the force of law and can also be appealed.

In most substantive matters within the jurisdictions of contracting states, actions on performance takes precedence over those of declaratory reliefs

3.1.3 Exemption to Article 27 and Lis pendens Rule The principle has been established that where there is exclusive jurisdiction, the lis pendens rule of first-come, first-served can no longer apply and the second court so seised must have exclusive jurisdiction. It is settled that Article 27 may be subject to such exception to the rule of lis pendens; and that any judgment given by a courts where exclusive jurisdiction ought to have been inherent given, may not be recognized per Article 35. This exemption is found to be a useful tool against torpedo actions.

3.1.4 The Exclusive Jurisdiction Clause Article 23 promotes the concept of prorogation i.e. where parties may prior-agree to a particular court or jurisdiction to settle future disputes arising out of their contractual agreement.

But Article 27 on which lis pendens is founded also made provision for exclusive jurisdiction.

Thus, where torpedo actions have been made, both Articles must be read to give effect to the object of the litigation vide the lis pendens rule. This was the situation in Continental Bank case where parties had prior-agreed to a settlement jurisdiction on a matter which by regulation regime was granted exclusive jurisdiction; a UK Court of Appeal determined that the exclusive jurisdictional clause must be subordinate to the wishes of the parties and “… dismissed the application of lis pendens.” The ECJ has since overruled this position on the grounds that the proper approach will be for the court so seised to of its own, determine jurisdiction. That in any case, upon proper interpretation, Ar-

ticle 23 does not grant priority to prorogation over exclusive jurisdiction.

3.1.5 Declaratory Relief In most substantive matters within the jurisdictions of Contracting states, actions on performance takes precedence over those of declaratory reliefs or originating summons motions. Because this distinction is not made evident in Article 27, the latitude exist for judges to determine priority and the application of lis pendens rule especially where torpedo exist.

However there are other regimes such as Community Trademark Regulation which empowers the precedence rule in spite of the opening in Article 27.

3.1.6 Abusive and Lengthy Proceedings Torpedo actions are in many respects delay causing actions.

An infringer of intellectual property for instance may launch a pre-emptive suit to buy time because all future actions must be stayed while the proceedings are on. In fact, a defendant who does otherwise, may be visited with a charge of contempt of court. This obviously is not the intendment of the Brussels 1 Regulation.

Although bereft with practical difficulties, some national courts especially German consider such extended proceedings as effectively setting aside the aims of lis pendens rule. But the ECJ in the Gasser case sees no such impediment, affirming that the Regulation, by a combination of its Articles and particularly Article 21 does not permit derogation, no matter the length of proceedings. The apex court reminds all parties that the continued success of the Regulation is dependent on the trust of the Contracting states for each of the legal system that make up the Regulation area.

C O N c l uded

THURSDAY, OCTOBER 27, 2016 NEW TELEGRAPH

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Opinion Supreme Court judges fight back Turning Point MIKE ARAYUWA WILKIE pmikky1950@yahoo.com 0802-3097-251 (sms only)

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y last write-up entitled: “Arrest of Supreme Court Judges” was contained on this page, on Thursday, October 20, 2016. In the said article I opted to give a vivid narration and analysis of what transpired between the Department of State Services (DSS) and seven Judges, in which the former arrested the latter. It was based on allegations of corruption leveled against the distinguished Judges by the DSS. Let it be noted that two Supreme Court Judges, Justice Sylvester Ngwuta and Inyang Okoro were amongst those arrested.

The allegation of corruption leveled against the said Judges was that the DSS claimed to have found large quantity of both local and foreign currencies in their residences of abode. Obviously, the judges who are not immune to the law ought to be treated like other Nigerians, but the Hitleric modus operandi adopted by the DSS to arrest the Judges at past night (1:00 am), was fundamentally and structurally wrong. This incredible scenario has continued to generate both ugly and good comments from Nigerians, organizations, legal bodies, Government, some institutions, including the Nigeria Bar Association (NBA) and the National Judicial Council (NJC).

For instance, the NBA and NJC, have contradictory opinions on this matter. The NBA is of the opinion that the affected Judges should step-aside to enable a proper investigation commence, that is, they should resign or proceed on compulsory retirement, as this will enable them face prosecution to defend

the allegations against them. The NBA President, A.B. Mahmud (SAN), further urged the NJC, to take some urgent steps to restore the sanctity of the judiciary.

On the other hand, the NJC which serves as an advisory role to the President or Governor in the appointment, dismissal and disciplinary actions against its members, could not key into the same line of thought of the NBA. Instead, the NJC is of the strong view that the Judges so investigated should continue to perform the legitimate functions of their offices. The internal contradictions of the two legal bodies appears to be a macabre stalemate, which has acted as a speed-breaker to the issue at stake, but the Federal Government is pressing for the prosecution of the judges.

Reacting to the allegations against the Judges, Justice Sylvester Ngwuta and Inyang Okoro of the Supreme Court “detonated some shocking time bombs”, which have literally exploded on the faces of some prominent Nigerians. Justice Sylvester Ngwuta alleged that the former River State Governor, who is now the Minister of Transportation, Rotimi Chibuike Amaechi, begged him in 2013, to pervert justice and set aside the election of Governor Ayodele Fayose of Ekiti State, in favour of Dr. Kayode Fayemi.

Justice Ngwuta also alleged that Dr. Ogbonnaya Onu, Minister of Science and Technology, made a desperate attempt to make him compromise himself on the Ebonyi State Governorship election. He also mentioned one Mr. Igwenyi, a senior staff of the Federal Judicial Service Commission who assisted Dr. Onu on the same misadventure to ensure that he was influenced to deliver injustice in the Ebonyi Governorship case.

On the part of Justice Okoro, he alleged that the DSS smuggled the currencies into his residence on the night of his arrest. He denied completely that he ever had such lump sum of monies in his house. He concluded

The allegations are obviously too weighty to be treated with kid’s gloves

that the same Amaechi also attempted to bribe him to influence the Governorship cases of Rivers, Akwa Ibom and Abia States.

From the totality of the allegations and counter allegations of the combatants, only Amaechi’s name has become a recurring decimal. Certainly, he is in the eye of the storm. But why Amaechi, of all the Governors and top members of the All Progressives Congress (APC)? The Minister of Transportation however denied these allegations leveled against him. He said that they were a carefully planned and coordinated political attempt to drag him into the DSS arrest and investigation of the some Judges in Nigeria.

The allegations are obviously too weighty to be treated with kid’s gloves and probably swept under the rug. If it were a functionally matured democracy within the context of America and the West, Justices Ngwuta and Okoro of the Supreme Court; Amaechi; Dr. Onu, Mr. Igwenyi; the top DSS operators including all those who have been mentioned, would have voluntarily vacated their offices in the interest of the ideals of democratic norms and values. In Nigeria, people who are already ripe for investigations and prosecutions do not take the required honourable exit when it becomes quintessential to put-up a gentlemanly democratic behaviour.

Again, another serious implication of these allegations, if true, on both sides of the divide, is that, the political class is gradually destroying the sanctuary of the judiciary. Still, if the allegations against the Judges and politicians is allowed to continue with impunity, Nigerians will find it difficult to have faith in the judiciary, which is supposed to be the last hope of the common man. It is therefore advised that the politicians should allow the Judges to do their jobs, while those who dispense justice should endeavour to resist any temptation of bribe taking. The end shall tell.

The panacea for cheap drugs Odimegwu Onwumere

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efore now, there had been suggestions that local industries should be supported in order to produce guaranteed pharmaceutical products for local utilisation, because no nation progresses by importing everything it uses without the local content. This has made the opinion expressed by Prof. Temitope Alonge, recently signifying that expensive drugs can be a thing of the past if only Nigeria can talk to the World Health Organisation (WHO) for authorisation to churn out vaccines and tablets that are cheap and relevant to healthcare.

Alonge, who is the Chief Medical Officer of the University College Hospital (UCH), Ibadan, believes that successive governments have not done much through their policies to alleviate the pains that Nigerians go through in getting medical attention, especially drugs. Nigeria has over the years been implementing policies in the health sector without much execution in the area that they will positively affect the people, therefore making Alonge’s clarion calls essential for Nigeria and her citizens to recognise and take pharmaceutical products as susceptible items.

There have been different bans placed

on some pharmaceutical products by successive governments to enhance the health sector, especially the ban in 2005, of which Paracetamol was the only drug among the banned regarded as being locally produced to be self-contained. That was a feint to Nigeria considering the fact that India had 16, 000 companies where drugs were manufactured with over 1, 000 of them certified by the WHO. An eye-opener, when Nigeria was gasping in speculation to produce cheap drugs, a revelation made by a lecturer at the University of California, Irvine, Kristin Peterson, the author of the book, ‘Speculative Markets: Drug Circuits and Derivative Life in Nigeria’, in an interview with a Nigerian newspaper published in August this year said “There are over 80,000 chemical and drug companies in China (some of which are foreign owned) and national regulatory agencies might inspect 20 or 30 of them per year.”

The irony was that Nigeria had not taken some decisions in the health sector and considering such decisions with paramount watchfulness. While at any blink, the government would ban some pharmaceutical products, Nigeria by 2010 hadn’t factories that produced Ibuprofen, Tetracycline, and among others. In the same year, the lives of 140 million Nigerians were virtually and harmfully impinged on, by the policy assessment.

Some health organisations in the country hence proposed for the launching of a

scientific foundation for decision-making.

They were of regret that when foreign donors made donations to Nigeria in the area of drug purchasing, the country turned around to expend the money in foreign market. A case-of-study was in 2009 when Four billion Naira was made available by the Global Fund for the purchase of drugs and no pharmaceutical company in Nigeria was of standard to purchase drugs from. However, analysts have said that independent drug importers in the country are patriotic, but in the international periscope, standard is top priority than patriotism.

The sad aspect was that there was no pharmaceutical industry in Nigeria that was of the WHO standard, making the Nigerian pharmaceutical sector incapable to apply for loan from Global Fund, therefore giving Europe, China, India and America the edge to continue to see Nigeria as a great purchaser of their drugs. This was revealed

by Peterson, saying: “In the 1970s, prior to the implementation of the structural adjustment programme, American and European brand name pharmaceutical companies saw the Nigerian population as buoyant purchasers. And, of course, at that time, the naira was at par with the dollar and the pound.

There was a fairly robust middle class and people were able to afford many of the products produced by those corporations.

“But the moment the economy started to take a downturn after Ibrahim Babangida’s 1986 implementation of structural adjustment, many things changed. On the one

hand, the private sector could no longer cope because the value of the naira was crashing.

It also became risky for drug companies to do business because the population could no longer afford their drug products.

“Because of that risk, the brand name multinational drug companies abandoned the Nigerian market that they themselves created. On the other hand, the population was expecting social welfare entitlements like pensions and free education, both of which they were receiving. But dictatorship and austerity led to mass protests as Nigerians’ sense of security was slipping fast out of sight.”

In 2005, some of the banned pharmaceutical items went up above 500 per cent, with Lavampisol, a worm expellant, as an archetypal example. The relevance of the position by Professor Alonge will help douse the stereotype among many Nigerians who misconstrue cheap drugs for counterfeit drugs, even when Nigeria has not won the battle against fake drugs. Peterson further highlighted, “The global brand name drug industry at one time did exceptionally well in Nigeria. Companies such as Pfizer, Roche, Upjohn, Ciba, among many others came to Nigeria as early as the 1940s and 50s. By the 1970s, Nigeria’s oil boom attracted the major drug companies around the world and they distributed and manufactured products within Nigeria.

•Onwumere can be contacted via: apoet_25@ yahoo.com

THURSDAY, OCTOBER 27, 2016 NEW TELEGRAPH

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hicles in addition to four he was entitled to as a former IGP. The story by Saharareporters had added that the team headed

by AIG Ali Amodu (retd.) was also making moves to recover five more vehicles from Arase.

The team was also said to have recovered an unstated number of vehicles from some other former police top shots.

But Arase, in a statement he personally signed had stated that no vehicle was recovered from him. He said it was embarrass-

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number plates of the vehicles public and where they were recovered from.

“I have done my bit, and my own records bear me witness.

Let those daily frightened by the shadow of Arase learn to face reality and stop chasing shadows so that they are not hunted by same.

“It’s unfortunate that this matter is being made a media issue because my successor has my telephone number and could have called me for any clarifica-

Sensitive issues about the police, especially internal matters, should be treated with a high level of discretion given its prime role in the nation’s affairs.

In all the reports so far, there has been no indication of direct communication between the serving IGP and his predecessor on the matter. While President Muhammadu Buhari’s war against corruption is commendable, it should not be used as an excuse by officials of his administration to tarnish the integrity of erstwhile government officials. ing for him to be tion or even Every effort must be made to inundated with sent me a verify issues before rushing to the calls and text text message media in order to avoid creatmessages on the rather than I have done my bit, ing the impression that such is purported recovaddressing motivated by a hidden agenda. and my own records ery. The former the media on The media exchanges between IGP had stated an issue well bear me witness both eminent Nigerians are quite that he provided documented in unnecessary. The police are emample details of all the items he powered to enforce the law and my hand-over notes.” handed over upon his retirement Given the varying accounts on therefore the impression should and expressed disappointment never be created that the police this matter, there is the need for that his successor chose to ridicaution to avoid turning the issue force has become so weak that cule him in the media whereas he it has to resort to the media to into a personal war of attrition. had direct access to him. deal with internal issues. Where That IGP Idris has chosen to Excerpts from the statement there are perceived breaches of blow the matter open throws up read: “It is embarrassing for me to a worrying angle that all may not existing procedure, established wake up on Monday morning to procedures should be followed in be well between him and Arase. be inundated with calls and mesorder to avoid bringing the police There are established sages on purported 19 vehicles to ridicule.

The media war over this issue recovered from me. I wish to reasIGP Idris should consider has been quite surprising and sure the general public that there resolving this issue in such a way avoidable, given the fact that was nothing like that. As I said that his intention is not misconthere are established channels in July, I did not take any police strued as an attempt to tarnish the of communication between vehicle with me outside what I am image of his predecessor. Ex-IGP serving and retired IGPs. It is entitled to, and so, there couldn’t Arase should also do his best to unhealthy for the police force to have been any vehicle recovered clear any grey areas in his handobe portrayed as an agency lackfrom me. If there was any such, ing respect for established forms ver notes in the interest of the those behind this campaign of image of a force he served for 36 of communications between its calumny should please make the years. serving and retired top officers.

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Needless war over police vehicles

ew days ago, the Inspector-General of Police, Mr. Ibrahim Idris, and his immediate past predecessor, Mr. Solomon Arase, engaged in a fresh media war over some official cars belonging to the Nigeria Police Force. In the wake of Arase’s retirement in June 2016, both eminent Nigerians had engaged in mudslinging over the IGP’s accusation that Arase and some retired DIGs refused to return some official vehicles after their exit. Idris had told journalists in Abuja that his predecessor went away with 24 vehicles while the former DIGs refused to return between seven and eight cars each.

This allegation was vigorously denied by the former IGP and his erstwhile deputies in separate comments. Arase had accused his successor of engaging in malicious propaganda instead of confronting the security challenges in the country. Curiously, the media war was rekindled some days ago following a report that Idris had ordered an investigation into the purchase and distribution of vehicles by past IGPs. Idris was said to have instituted the probe upon discovering that ex-IGPs and former DIGs usually appropriated police vehicles to their personal use. The report had stated that 19 vehicles, comprising sedans, Sport Utility Vehicles and pickups were recovered from Arase by a Special Investigation Panel set up by Idris. Arase was said to have taken these 19 ve-

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SouthEastFocus

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South South Focus When Benin quaked, stood still for Oba Ewuare 11

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For dignity of womanhood Participants at the event

The fight against Female Genital Mutilation(FGM) in Ebonyi State has reached its crescendo with many people volunteering to champion the war as UCHENNA INYA in Abakaliki reports

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bonyi State has the highest prevalence rate of female genital mutilation and cutting in the South East region of the country. It is estimated that about 15 million girls, between the ages of 15 and 19 years are at risk of being subjected to the inhuman treatment by 2030, if nothing was done to halt the practice.

Local government areas in the state where the practice is common include Izzi, Afikpo North, Ohaukwu, Ikwo, Abakaliki, Ezza North and Ebonyi Local Government Areas.

The practice of female genital mutilation by these areas is so common that any girl child that is not circumcised is not regarded as a complete

child.

But that situation is beginning to change as the state government, NGOs, Civil Society Groups and other organizations have beamed their searchlight against the ugly trend because of its adverse negative consequences on the girls.

Speaking at a two-day training of community champions on Female Genital Mutilation abandonment in Ebonyi State organized by the National Orientation Agency(NOA) in conjuction with the United Nations Children Emergency Fund (UNICEF) and the United Nations Population Fund(UNFPA), the Medical Director, National Obstetrics Fistula Centre of Excellence, Abakaliki (NOFIC), Prof Sunday Adeoye, said 85 per cent of Vesico Vaginal Fistula patients in the country are victims of Female Genital Mutilation/cutting.

Describing the practice as unacceptable, he canvassed for a bottomtop approach to curtail the practice in the country.

“Among over 412 patients we have studied, over 85 per cent of them have suffered some form of mutilation or another which is not acceptable”, he said.

While noting that female genital mutilation is a contributory factor to VVF in the country, Adeoye commended the efforts of the Wife of Ebonyi State Governor, Mrs. Rachel

Among over 412 patients we have studied, over 85 per cent of them have suffered some form of mutilation or another which is not acceptable

Umahi, to stamp out the practice.

He noted that there was need for the people at the grassroots to join the fight against the practice for it to be successful.

UNICEF Chief of Enugu Field office, Charles Nzuki, in a goodwill message, regretted that many women lose their lives during child birth because of female genital mutilation.

He said:” We must abandon FGM because it is one of the major reasons women die during child birth and suffer from Vesico Vaginal Fistula (VVF), painful menstruation, painful sexual intercourse, exposed to life threatening infections such as HIV and Tetanus amongst other negative consequences.

“Ending FGM is life saving.

There is need to prevent millions of girls and women from undergoing painful, harmful an irreversible damage to their genitalia. Let us encourage parents and caregivers to leave genital organs of girls and women as naturally created”.

On her part, Child Protection Specialist in the organization, Mrs. Nkeiru Maduechesi, said UNICEF is targeting the next 20 years to eradicate female genital mutilation in the country.

She noted that Female Genital Mutilation was one of the reasons women die during child birth and suffer from Vesico Virginal Fistula (VVF), painful menstruation, painful sexual intercourse among others.

“We have a target and a goal to ensure that Female Genital Mutilation is eradicated within this generation and that is to say that in the next 20 years.

“So, we are looking at strengthening the community leaders because Female Genital Mutilation is practiced by families and communities and it is a social norm.

“We are working in eight LGAs in Ebonyi State and we are looking

at working with community champions and facilitators. We hope by 2017, we should be able to reach seven LGAs with a minimum of 40 persons working in each LGA as community champions’’, she said.

In his remarks, the state Director, National Orientation Agency(NOA), Dr. Emma Abah, noted that the agency would soon approach the state House of Assembly to pass a bill prohibiting female genital mutilation in the state.

He said: “In the south eastern region, Ebonyi State has the highest prevalence rate above the regional average at 62 per cent.”

“About 120 million to 400 million women have been subjected to FGM and 3 million girls are at risk each year, according to World Health Organization (WHO)”.

“FGM relates to all procedures that involve partial or total removal of external female genitalia or other injury to the female genital organs for non-medical reasons.”

“This practice is an abuse of human rights and causes serious health complications, including fatal bleeding”.

General Manager of Radio Nigeria-Unity FM Abakaliki, Gregory Odiakosa, said it was still surprising that it was still being practiced despite all the campaign.

He expressed shock that Ebonyi is number two in ranking of prevalence rate in the country.

Describing the training as a very nice move, he said that the expectation is that participants will go back and work assiduously to end the practice.

Odiakosa, who described FGM as a wicked and evil practice, blamed tradition for its continued practice and existence in the country.

He, however, noted that the practice has very negative consequences for the women and girl child and tasked stakeholders to ensure that the practiced is ended in the state.

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THURSDAY, OCTOBER 27, 2016 NEW TELEGRAPH

Waiting for 2nd Niger Bridge, Onitsha River Port

Okegwo Kenechukwu Onitsha

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hirty-three years after the commissioning of the Onitsha River Port by the then National Party of Nigeria, NPN-led Government of President Shehu Shagari and the latest by the President Goodluck Jonathan in 2012, the N40 billion Onitsha River Port project of the Federal Government and the 2nd Niger Bridge have remain a political instrument to canvas for votes during electioneering campaigns.

These two projects dominate the South East share of the Federal infrastructure for over the decades.

But they are there only to receive a deceptive fire brigade approach during electioneering campaign by politicians.

But what has remained a wonder to most people in the South East states which is yearning for an answer if it was really a political gimmick or act of marginalization and if like the former Governor of Anambra State, Mr. Peter Obi puts it “are we cursed or are we the cause?.

This question demands for urgent answer because these all important Federal projects had over the years been provided for in the Federal Budget allocation.

It is important that common people should know why at a time in the political history of this country, political leaders, such as the Deputy Senate President, Ike Ekweremmadu, House Committee On Works, Chief Ozo Mgbachi and two other directors in charge of the Federal Ministry of Works should be in their position and allow the project to be a subject of political bargain? It is not as if the 2nd Niger Bridge and Onitsha River Port are the only projects in the South East that are yearning for immediate attention. That was the reason when former President Olusegun Obasanjo, during his third term bid and Goodluck Jonathan visited the site to canvass for support of Ndigbo only to abandon the projects.

As usual with the Federal Government, the South East states heralded the budgetary allocation of yet another N13 billion in the 2016 appropriation to the 2nd Niger bridge but the fact remains that as people who have been disillusioned, like the Israelites, they are asking President Mohammed Buhari “are you he who is to come or shall we continue waiting for another Messiah?.

The people appreciated the positive development but were apprehensive that work is yet to commence on the project, with almost two years already spent. There is also glaring doubt that the project can be realized within four years as provided in the concession agreement between the Federal Government and Messers Julius Berger.

It was against this backdrop that the issue of Onitsha River Port took the centre stage at the 9th annual lecture of the Onitsha Chamber Of Commerce, Industries, Mines and Agriculture tagged “the perspective.”

The President of the Chamber, Mr. Uchenna Apakama, reflected on the activities of the nation’s port reforms.

Going down the memory lane, Apakama stated that in the 1990s,

Onitsha river port complex

There is need to, therefore, harness the agriculture produce, mines as well as other resources, processed and refined

the Nigerian ports were very inefficient and highly centralized with virtually all decisions and actions taken by the Nigerian Ports Authority and her supervising Ministers. The NPA was both the regulator and operator of the ports.

These resulted in long turnaround times for vessels, prolonged container dwell time and demurrages, insecurity of cargo, corrupt practices and excessive port related charges.

Rather than being net revenue generator, it remained dependent on Federal Government for financial support, especially for its capital investments.

To overcome this inefficiency and improve productivity, the Federal Government, in 2001, embarked on the Port Reform Programme, leading to the concession of terminal operations to reputable private operators.

The Nigerian Ports Authority remained the landlord of all ports and was responsible for technical and safety regulatory functions.

To date, the Bureau for Public Enterprises and the NPA have successfully executed about 26 concession agreements and the new terminal operators have brought improved efficiency to port operations and freed resources for developmental needs of our nation.

The Port Reforms remains one of the success stories of Public Private Partnerships (PPA) in Nigeria.

Recently, the Lekki Deep sea port and the Badagry Deep sea port have been concessioned and work commenced towards their realization and operation.

Unfortunately, this success story of Port concession of the nation’s sea ports has not been replicated in the Inland ports as exemplified by The Onitsha River Port.

First commissioned in 1983 by the Shagari led NPN government and recently re-commissioned in 2012 by Goodluck Jonathan’s PDP

government with all the promises held, the port has remained a ghost of itself four years after.

The socio-economic and political importance of the Onitsha river port and indeed the other river ports at Oguta, Lokoja and Baro as well as the development of the water ways cannot be over emphasized.

The Nigerian Shippers Council now appointed as the economic regulator for ports in consonance with The National Inland Waterways Authority (NIWA) and their supervising ministry must act quickly to arrest the dilapidation and deterioration of our national asset exemplified by the Onitsha River Port complex with the huge investment of over N4.6b and N36b in dredging of the River Niger The several appeals and consultations made to the Federal Government agencies to fast-track commencement of operations of the port have not been positively considered.

He said “It is the belief of the Chamber that even as the Federal Government continues the search for a concessionaire for the port, some level of activities could be initiated to encourage our shippers to start using the port and lessen the waste of its facilities. There is therefore need to explore partnership with the Anambra State government and Ndi Anambra to attract reputable concessionaires for the river port in line with the port reforms. The working Governor of Anambra State, Chief (Dr.) Willie Obiano, has attracted foreign direct investments worth over billions of dollars into the state and has turned Anambra State into the preferredinvestment destination in Nigeria.

With huge investments in agriculture, mining and industries, there is great need to provide suitable route for evacuation of products. This intervention could not come at any other better time than now, when the nation is seriously

looking beyond the oil and gas sector for-the sustenance of the economy.”

He added: “It is worthy to note that Onitsha business community and southeast business operators own majority of the cargo discharged in the nation’s ports and we desire that the Federal Government should gazette the Onitsha river port as a port of final destination for cargoes and containers coming from all parts of the world. This will make for its viability and consequently ease the congestion in the other eastern ports.

Let every proactive effort be, therefore, made to improve and effectively harness the huge potentials of our Eastern Port in order to accelerate and sustain our national economic growth.”

He said that the chamber has carefully chosen the theme of this Perspective, “Sustenance of Nigerians Economic Growth port Reform: The Case of the Eastern Ports” and sourced the most suitable resource “in the “person of Mr. Hassan Bello, The Executive Secretary/CEO of The Nigerian Shippers Council.

The Hon. Minister of Transport, Rt. Hon Rotimi Amechi, who was the special guest of honour of the event, was of the opinion that the Onitsha port would identify domestic and foreign destinations where such goods are required.

In order to sustain Nigeria’s economic growth through Port Reforms, a good regulatory framework has to be laid down by the relevant Agencies of the Government as well as the Private sector.

According to him, comprehensive legal framework, financial and monetary policies should be firmly established to be observed by all and sundry in the business industry.

The Onitsha River Port should be functional to drive the economic hub of the community. The hazards of freighting goods through the hazardous road network from Lagos to Onitsha market could be unimaginable.

However, businessmen experience such every day.

“There is need to therefore harness the agriculture produce, mines as well as other resources, processed and refined, so that they could be exported through the Onitsha Port to identified domestic and foreign destinations where such goods are required.

“Government also recognizes the great potential and benefits of the Inland waterways and is resolved to address the outlined constraints to enable the country fully exploit and enjoy this mode of transportation”, Amaechi said.

He said it is in cognizance of this that government intends to develop the Inland Waterways with private sector , states and local government participation, to provide for the technical and safety regulations of the National Inland Waterways, so as to promote inter-modalism in transport sector.

The minister also noted that to facilitate the conclusion of agreements with foreign governments and international organization for the improvement and development of National Inland Waterways, it is duty bound to encourage cooperation within ECOWAS region for the adoption of common standards, safety practices, and interconnection for National Inland Waterways in order to promote consultation with relevant stakeholders, industry participation and the general public.

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THURSDAY, OCTOBER 27, 2016 NEW TELEGRAPH

SouthSouthFocus

When Benin quaked, stood still for Oba Ewuare II

The new monarch receiving his staff from Oshiomhole

It has been largely awaited. But the day came last Thursday, when the new Benin Monarch, Oba Ewuare 11, was formally installed. As is customary with major kingdoms in Nigeria, the Benin Kingdom pulled all stops to welcome their king.

CAJETAN MMUTA reports from Benin

F

or the ancient Benin Kingdom in Edo State and the South-South geo-political zone, history beckoned on them on Thursday, October 20. It witnessed the rich blend of colour, glamour, pomp and grandeur of

custom, tradition and civilization that combine to single the kingdom and its people as distinct reference point.

It was a ceremony that saw the coming together of both the men of various classes; the rich, middle class and the poor from far and near, the mighty and weak. Ethnic groups were not left out as they gathered in the City centre of Benin otherwise known as the Kings Square to witness the glamour and a new dawn in the historic coronation ceremony of Ambassador Eheneden Erediauwa, the heir apparent and Crown Prince of Benin Kingdom as the Omo N’Oba Nedo Uku Akpolokpolo, Oba Ewuare 11 and the 40th Oba of Kingdom.

According to the peoples’ tradition and custom, the new Oba was crowned midnight of Wednesday in deep and high level traditional rites in the inner chamber of the ancient Usama palace on Siluko road in the capital City and subsequently presented officially to the mammoth crowd of guests who

I am confident that with the blessing of God Almighty, the love and support of my family, my people, Nigerians in general and my friends in the international community, we shall succeed in this mission

thronged the state amid cheers and jubilation.

The event, which marked the end of all the customary and traditional rites, more than ever has its unique nature and essence in several ways.

First, before the coronation of the new Oba, which was followed by the public declaration of his royal name, he had for months passed through deep and sizzling traditional and cultural rituals and ceremonies held at notable ancestral shrines of the kingdom, aimed at appeasing the gods, fortify and transform him for the high position.

This came shortly after his father, Oba Erediauwa joined his ancestors. No doubt, the processes of these feats of traditional and customary exercises are wrapped in the great mystery of that name Omo N’Oba Nedo Uku Akpolokolo (the Mighty One).

In Benin kingdom, the Oba is seen and worshiped as supreme deity or god who does no wrong and his words are authority and

cannot be questioned. Following the trends and processes of the rituals, participations of the monarch, the royal family, palace chiefs, royal courtiers, guards and the distinct beauty and blend of active involvement of key traditional priests of high and low classes and the customary as well as cultural affinity to the gods and the ancestors, one is not in doubt to say that Oba Ewuare 11 prepared himself in all ramifications.

As the name suggests, Oba Ewuare 11, though may have taken many by surprise when he went back to history of his ancestors (Oba Ewuare, 1440-1473) to choose his name, that sent a very strong message to most guests, the world of his ancestors, the kingdom and its people who were uncontrollably locked in excitement and also amazement about the new royal name. As one who has come to build the kingdom, the new monarch took many by storm.

Besides, it was evident from his acceptance speech that his ascendancy is not only for the glamour and pageantry of such position but to also enact what historians can best tag as revolutionary and renaissance to further showcase the rich culture and tradition of the Benin kingdom to the country and the outside world as well as boost its potentials through agriculture, tourism, peace, unity, new order, harmonious relationship, process and development.

In addition, the coronation had coincided with the birthday celebration of the monarch. Born October 20, 1953, he attended the famous Edo College, Benin from 1965 to 1967 and later proceeded to Immaculate Conception College between 1968 and 1970 before moving to England where he bagged his advanced level General Certificate of Education from South Thames College, South West London.

He holds a Bachelor of Science degree in Economics from the University of Wales, UK and also has a Master of Public Administration degree from Rutger University Graduate School in New Jersey, USA. He was a graduate intern at the United Nations between 1981 to 1982 and is a member of the Nigerian Institute of International Affairs.

Just like his father, Oba Ewuare 11 is a reputed administrator and a diplomat in the Scandinavian region, Europe and Africa. He is also well traveled and had served as Nigerian Ambassador to the Kingdom of Sweden, with concurrent accreditation to Norway, Denmark and the Republic of Finland.

He was appointed and sworn in as Ambassador Extraordinaire and Plenipotentiary of Nigeria to Italy on July 21, 2008.

More revealing too was the timely and exciting presentation of Staff of Office to the Oba by Governor Adams Oshiomhole, whose tenure will come to an end on the seond week of new month November on CONTINUED ON PAGE22

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south-south

C O N T I N U E D F R O M PA G E 2 1

handing over to the GovernorElect, Mr. Godwin Obaseki.

Oshiomhole had the rare privilege which he longed to being part of to have relished the royal activity and one considered as first and quite outstanding amongst governors that have presided over the affairs of the state since its creation in August 1991.

The thrilling occasion afforded the Iyahmo born politician and former President of the Nigeria Labour Congress (NLC) to send a strong message on how the late Oba Erediauwa supported and laid a solid and equally too an unquestionable stand when it mattered most on policy issues which helped to shape development strides of the state. Again, it was on record that Oba Ewuare 11, defied all odds to pass through the rigours of what ordinarily would have been neglected by a mere mortal to get to the exalted throne but he proved many wrong, especially, during the three months stay at the traditional ground at Uselu palace, the name choosing exercise at the Use ancient palace, the great coronation ritual processes at the popular Usama palace and the foot processions demanded by tradition and the triumphant entry into Benin Kingdom after the glorious entry through old roads to the Itsekhere bridge habouring River Omi, where he performed the traditional symbolic crossover into the heart of the City and the main palace.

The monarch was also accompanied by the Ekasa Royal troupe for the symbolic crossover of the bridge to Benin into the waiting arms of hordes guests at the VIP lounge where they were treated to a sumptuous and lavish entertainment at UrhoOpota hall. He was also accompanied to the Kings Square by thousands of crowd of admirers and residents, made up of the aged, women and children, who out of great excitement cheered at the Royal procession even to the tradition bridge while hundreds of to palace Chiefs and royal family members waited patiently at the popular traditional spot for his arrival to carry out the all important rite.

But, while the ceremony lasted, one could see and perceive the high level regard, conviviality, power, respect, pride and influence the throne commands as the entire capital town was completely locked down by security operatives, made up of the army, policemen, members of the Federal Road Safety Corps (FRSC), the Department of State Service (DSS), the Peace Corps, and other military and para- military outfits.

There was a well accentuated order of events and flow of people and vehicles. Major roads leading to the City centre (Ring road) were shut to motorists as all the known markets and business outfits within the town remained closed as people trooped enmasse on foot to witness the colourful event.

Amongst notable dignitaries who graced the historic ceremony held within the City centre otherwise known as the Kings Square, included the Presiden-

THURSDAY, OCTOBER 27, 2016 NEW TELEGRAPH

All hail the king!

Traditional dancers at the event

tial delegation from the nation’s Aso Rock led by the Vice President Professor Yemi Osinbajo, Alhaji Aliko Dangote, Captain Hosa Okunbo, Sultan of Sokoto, Alhaji Mohammadu Abubakar Sa’ad 111; Emir of Kano Alhaji Sanusi Lamido Sanusi; Ooni of Ife, Oba Oguwusi Adeyeye Enitan; Esama of Benin Kingdom, Chief Gabriel Igbinedion; Governor Ibrahim Dankwmbo of Gombe State; Information Minister, Mr. Lai Mohammed; Governor Abiola Ajumobi of Oyo State; Minister of State for Health, Dr. Osagie Ehanire; National Chairman of the All Progressives Congress (APC) Chief John Odigie Oyegun; Edo State Governor-elect, Mr. Godwin Nogheghase Obaseki.

Also on the roll call are HRH Godfrey Ikenwoli Emiko, the Olu of Warri Delta State; Obi of Onitsha, HRH Igwe Alfred Achebe, members of the National and state assemblies and civil commissioners in the state and neighbouring states, the Deputy Governor of Imo State, Mr. Eze Madumere; Acting chairman of the NDDC, Mrs. Ibim Seminatari, Governor Rauf Aregbesola of Osun State, Chief Ayeri Emema, Vice Chancellor of the University of Benin, Professor Faraday Orunmwense, members of the diplomatic corps and a delegation of Her Majesty, the Queen of England, led Mr. Paul Arkwright.

Oba Ewuare II, who stormed the UrhoOpota VIP hall in a richly knitted over 20 kilogrammes weight of traditional regalia, completely made of beads at about 4:30pm, followed by top Usama chiefs amid brief

Oranmiyan’s time in Benin was however short lived, he was an Oba. So, he was the first Oba after Ogiso dynasty

rites and drumbeats, heralding his entry was hailed by the guests.

In his speech, Oba Ewuare explained why he should be referred to as the 40th Oba of Benin. He also announced his mother as the Queen mother, the Iyioba of Benin kingdom, though posthumously and also acknowledged the indelible virtues of his late father, Oba Erediauwa.

He said: “Our responsibility for us now is daunting but I am confident that with the blessing of God Almighty, the love and support of my family, my people, Nigerians in general and my friends in the international community, we shall succeed in this mission of building upon the legacies of our father. Let me crave your indulgence to also make few remarks about my late mother, Princess Eghiunwe Akenzua of blessed memory, who passed on to the great beyond in 1976, when my father was still the Crown Prince.

It was my dear mother who taught me to work hard for success in everything I set my mind upon to achieve. Circumstances and act of fate did not allow her to enjoy the status of a Queen in her life time. But she was a Princess in her own right. By my coronation today, she is now entitled to be bestowed with the title of Iye Oba (Queen Mother), which customs allow us to confer posthumously.

This will be consummated at the appropriate time.”

On his royal name, Oba Ewuare 11 stated that, “there may be some divergent views about the origin of some of our ancestors but there is unanimity in the shared heritage between the people of Benin and Ile Ife in identifying Oduduwa as a forebear of kingship in parts of Africa and Nigeria of today.

Historians all agree that Oduduwa sent his son, Oranmiyan as requested by elders of Benin to return with them as ruler of their realm. Oranmiyan stayed in Benin, but his stay was short. But by the time he left, he had a son known as Eweka 1; Oranmiyan’s time in Benin was however short lived, he was an Oba. So, he was the first Oba after Ogiso dynasty, he established Obaship in Benin.

Therefore, the listing of past Obas should start from Oranmiyan, this actually made my late father the 39th Oba of Benin while I am the 40th Oba of Benin” He further promised to pay due attention security, agriculture, and welfare of people of the kingdom, adding that “we shall strive to ensure equity and justice, use of cultural diplomacy as a vehicle to maintain relationship with our neighbours. We will ensure our people use Benin language as a vehicle of communication and also teach our children the language”, even as he called on the subjects to uphold the tradition and culture of the land at all times.

President Muhammadu Buhari, who was represented by Osinbajo, prayed to God to grant the monarch wisdom and a glorious reign as well as long life on the throne.

He said, “Your great father in Mr. President’s days as Minister of Petroleum, served the Federal Government in the same building as a Permanent Secretary…

Your Royal Majesty, the Obaship of the Benin Kingdom is not just a source of pride to Edos but also to Nigerians and indeed to the African people. The tradition of resistance to colonial oppression and superior administration is well known in Benin Kingdom.”

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THURSDAY, OCTOber 27, 2016 NEW TELEGRAPH

Insight

Some motorcycles being displayed for sale.

Some market stalls at the border.

Rice stored in a shop awaiting buyers.

A police station in Republic of Benin

As Nigeria’s economy continues to plummet due to recession, KUNLE OLAYENI reports that the situation is taking a serious toll on commercial activities at the nation’s border posts with neighbouring African countries

B

enin Republic is one of the major African countries engaging in active trade relations with Nigeria.

Both countries have continued to enjoy bilateral relationship, especially in the areas of economy, energy development and education.

Apart from legitimate businesses, illicit activities such as smuggling of vehicles and other contraband have also dotted the relationship of the neighbouring nations. This has inevitably made their respective border areas a beehive with lots of implication on security and economy.

As the proverbial ‘Big Brother’ in Africa, Nigeria plays significant role on the continent; and surrounding nations usually catch the cold whenever Nigeria sneezes. This much was attested to by

Benin Republic catches cold of Nigeria’s recession the President of Benin Republic, Patrice Talon.

During his visit to President Muhammadu Buhari in Abuja recently, Talon explained that his people and his country were being affected by the downturn in the Nigerian economy.

Attacks on oil and gas installations by militants in the oil-rich Niger Delta have adversely affected gas supply to turbines, forcing a sharp drop in power supply.

Consequently Nigeria has been hampered in supplying electricity to its neighbours that hitherto depended on her.

“As Nigeria is not using its potential, it is making other West African countries suffer. The crisis hitting Nigeria is what is hitting us. This is an opportunity for us to go back and develop other sectors,” Talon had said.

The Beninoise President, who described Nigeria as the engine room of West Africa, urged the Federal Government to explore its non-oil sectors to increase the country’s revenue profile being depleted rapidly by falling oil prices in the international market.

Indeed, findings by New Tele-

We also want to eat and survive

graph indicated that Nigeria’s economic woes were fast affecting other African nations. Traders involved in commercial activities at the border areas are feeling the heat as many of them continued to bemoan the ugly state of the nation’s economy.

Some traders, who spoke to our correspondent, specifically said the foreign exchange crisis and slide in fortune of the Nigerian currency had crippled their businesses. The ban on importation of certain items by the Buhari administration is also affecting other categories of trans-border traders.

A trader, who identified himself simply as Sulaiman, said the closure of Nigerian-Benin Republic border by Customs officials had negatively impacted on his rice business. Sulaiman is an indigene of Ilara in Imeko-Afon Local Government Area of Ogun State but he is resident in Benin Republic.

According to him, the ban placed on rice importation in Nigeria has jerked up the price of the commodity in the market and left traders to grapple with low sales.

Investigation showed that while a bag of rice is sold for N10,500 in

Benin Republic, the same is sold for N18,000 in Nigeria.

Sulaiman said: “There are lots of problems that we face in this business. The authorities used to shut the border and this often makes the cost of rice to go up.

They used to close the border intermittently for like a stretch of one week and this prevents us from selling our goods. Our customers from Nigeria would not be able to come and buy our goods.

“We also want to eat and survive. Patronage from customers is the only way for us to survive.

When they (Customs) shut the border, people who want to buy goods won’t be able to come. Sales are not booming like before. We just leave our goods in the stores waiting till the time the border post would be re-opened.”

The trader, who stated that he used to sell an average of 40 bags of rice daily at his warehouse before Nigeria’s economic recession, claimed that his daily sales have now reduced to between 15 and 20 bags.

“Since I got to work today, I have CONTINUED ON PAGE 24

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INSIGHT

THURSDAY, OCTOber 27, 2016 NEW TELEGRAPH

Angst of traders at border communities

Rice being prepared to be smuggled into Nigeria.

CONTINUED FROM PAGE 23

not sold a bag of rice. Even customers have not come to ask how much I’m selling kegs of vegetable oil. The economic situation is so critical now,” Sulaiman said at the time our correspondent called at his warehouse.

Findings further showed that due to poor infrastructure and social amenities, many Nigerians are relocating to neighbouring countries. Local welders, attracted by uninterrupted power supply in Benin Republic, have established profitable businesses there.

“There is constant electricity here (Benin Republic) but at the Nigerian end of the border, people are really suffering over acute power shortage. Here, whenever there would be power outage, the authorities would have given adequate notice on radio and other media. Even, if there is outage, it won’t last for too long,” Sulaiman added.

Also speaking, a Nigerian bureau de change operator, Oluwasegun Oke, said the foreign exchange crisis had adversely affected his business in Benin Republic. Before now, Oke explained that 1,000 CFA Franc exchanged for N300. Currently, 1,000 CFA Franc is equal to N700.

He said: “The foreign exchange crisis has affected our business.

Most of us doing this business can only make gains when exchange rate is good. If we tell many of our customers about the current exchange rate, they find it difficult to believe, except those who really trust us. This has increased the cost of all goods.

“Naira does not have any value again. We are not happy with the situation. There is no gain in the currency we exchange. The government should look into the situation and help us out.”

Matthew Ibitokun and Joseph Olaleye, who are motorcycle dealers, also shared their experiences.

They noted that Nigeria’s economic situation was stifling their trade and appealed to relevant authorities to urgently address the foreign exchange problem.

Ibitokun said: “For example, the scarcity of dollar has caused a skyrocketing increase in the price of our goods. Before, when currency was still strong, we sold a unit of motorcycle at N150,000; N135,000; at times N127,000. But

now it is N185,000 or more.

“We want the government to do something about the foreign exchange rate. Commercial activities are dull since the dollar crisis started. Who is buoyant enough to purchase motorcycles when everybody is hungry?

“If the dollar is strong, it makes CFA Franc expensive while our naira becomes weak, and you know that these goods are imported via foreign exchange. Those who are in Nigeria, it’s even difficult for them to buy motorcycles now.

“We prefer the French (people from Benin Republic) to buy goods from us. This is because their currency is stronger than ours. Our own currency is becoming weaker by the day. The economy of Benin Republic appears to be getting better than ours.

“We don’t pay for electricity in Nigeria again because power had been epileptic there. Paying for poor services is like wasting money. So, we have decided not to pay anymore for power supply there.

The funny thing is that when the electricity distribution company supplies power this week, their officials also go about collecting bills that same week.

“The epileptic power supply in Nigeria has forced many Nigerians to cross over to Benin Republic in search of greener pastures. Nigerians are now building houses here and living here. We pay taxes here to the Benin Republic authorities. In fact, we are always happy to pay because we are seeing the dividends of such taxes in terms of provision of social amenities. Is it with the bad roads that we will pay taxes to Nigeria?”

On his part, Olaleye said inasmuch as traders enjoyed prosperity at the border corridor, the lack of commercial banks in the area was worrisome. He, therefore, called for the establishment of banks, because, according to him, such will also enhance security in the area.

He said: “We need a bank here.

There is no bank at the border area. Every trader here usually devises his own method of keeping money without letting others know about it.

“When there is no bank and I keep my money at home and thieves come, there is nothing I can do. But if I have an Automat-

A filling station at the border.

The foreign exchange crisis has affected our business

Ibitokun

ed Teller Machine (ATM) card, I can conveniently withdraw cash anytime. There was a bank here sometimes ago but armed robbery attacks led to its closure. Since then, no other bank has dared to open shop here.

“Crime rate is increasing here but we usually hire private guards to provide security for our businesses and homes. If there are banks here, there won’t be crime because security would have been put in place.”

Corroborating Olaleye’s view, a mobile phone dealer along the Nigeria-Benin Republic border, Prince Daniel, said the issue of foreign exchange needed to be urgently addressed.

Another interesting side to trading at the border area is the price of Premium Motor Spirit (PMS), otherwise called petrol.

While petrol is officially sold at N145 per litre in Nigeria, the commodity is being sold at the border area’s filling stations at N180. At black market, you buy at N200 per litre.

Residents explained that it pays to buy from the black market because buyers get full measure. But when customers buy from filling stations, according to Olaleye and other residents, they usually get short-changed.

“You know that Benin Republic does not have fuel; Nigeria supplies them. But petrol sells at equivalent of N180 at the filling stations. It is sold N200 in the black market. However, it is better to buy at black market or road side because filling stations often short-change customers,” Olaleye stated.

Olaleye

But in all of this, what seems to be paramount to the Nigeria Customs Service (NCS) is curbing illegal cross-border commerce.

Recent reports revealed that there are over 6,000 illegal borders in the country, through which smugglers carry out illicit activities.

The Customs Area Comptroller, Ogun State Command, Multafu Waindu, said his men had devised effective strategies to combat smuggling, notwithstanding the nation’s porous borders and faltering economy. He maintained that the importation ban on certain goods and products was still in force in the country.

He said: “Idiroko border is as porous as anything. Despite the fact that we are in the rainy season that does not deter smugglers because they employ all sort of means to carry out their operations.

“You know, if vehicles cannot cross the Idiroko border, what they do is that they use smaller vehicles that can ferry 50 to 70 bags of rice and use machines that can carry seven, eight bags of rice and they can use the footpaths and they always plant spikes along the motorable roads to demobilise our operatives from catching them.”

The Customs boss decried the state of facilities at the border areas and urged government to address the rot towards enhancing the operations of his agency.

He said: “If you go to Imeko, the situation is the same. We lack facilities to show how big Nigeria is.

The facilities at the main border of Idiroko are in a state of disrepair. In fact, they need total demolition and rehabilitation.

“We have enough personnel at the border; the Comptroller-General has been magnanimous to us in approving some equipment for us. We have about 1,200 personnel.

In terms of accommodation, it is not sufficient.”

Waindu said the NCS had “excellent relationship and synergy” with other security agencies, especially the police, Army, Immigration and the National Drug Law Enforcement Agency (NDLEA).

He also made a strong case for improved anti-smuggling measures.

He said: “What I want the government to do for us is to renovate our border offices. I will also want to request that we should adopt new method for anti-smuggling activities. At the Idiroko border, I

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THURSDAY, OCTOBER 27, 2016 NEW TELEGRAPH

Industry

Business

BoI: Rescuing ailing SMEs with soft loans

eWorld Cybercrime: How to tackle N78bn yearly losses, by FG

27 30

Nigeria targets N16trn ICT investment by 2018 INVESTORS’ DELIGHT Nigeria remains a huge market and the centre of economic activities in the sub-region and ICT development in Africa

lWoos investors at Gitex

L-R: Partner & Head, Advisory Services, KPMG, Mrs. Bisi Lamikanra; Senior Manager, Management Consulting, Mrs. Bode Abifarin; Head, Department of Profession Practice, West Africa, Mrs. Agnes Lutukai and Director, Audit Services, Mr. Robert Araes, during a press briefing and presentation of the KMPG 2016 Africa Banking Industry Retail Customer Satisfaction Survey in Lagos. PHOTO: TONY EGUAYE

Kunle Azeez

T

he Nigerian government is planning to increase Information and Communication Technology (ICT) investment in the country by over $50 billion (about N15.9 trillion), given current official exchange at (N319) in the coming years, New Telegraph has learnt.

Currently, investment in the industry, mostly driven by telecoms segment, has reached over $35 billion (about N11.1 trillion).

It was learnt that the Nigerian delegation at this year’s Gulf information Technology Exhibition (Gitex) 2016 held in Dubai directed much of their interactions at wooing potential ICT investors into the nation’s economy.

ICT is being pushed to be the next game changer in the country’s march towards being globally competitive.

“As you know that investment in ICT industry in Nigeria, where telecoms segment has become a powerful force, has recently been estimated at over $35 billion, government on its own is targeting to accelerate this figure by additional $15 billion in the next two years and that was the preoccupation of the high-powered

The Business Desk Ayodele Aminu

Deputy Editor (Business)

Bayo Akomolafe

Asst. Editor (Maritime)

Sunday Ojeme

Asst. Editor (Insurance)

Tony Chukwunyem

Asst. Editor (Money Market)

delegation from Nigeria to this year’s Gitex,” an official source told this newspaper by phone after the delegation returned from the annual conference in Dubai recently.

The delegation included the Minister of Communications, Mr. Adebayo Shittu, Director General of the National Information Technology Agency (NITDA), Dr. Ibrahim Pantami and Head of the Civil Service, Mrs. Winifred Ekanem Oyo-Ita, among others.

“Despite recession and a struggling naira, Nigeria remains a haven for offshore investments in the technology sector, Nigerian government officials have asserted during engaging discussions with investors on the continent’s economic health at the Africa Investment Forum during the conference,” another official source said.

The executives at the conference were said to have asserted that Nigeria still holds the great-

est potential for high return in investment (RoIs) on the continent as a result of its huge population, large number of talented young skill-pool, a largely untapped technology market and an investmentfriendly government policy that is increasingly being made to be more dynamic and more rewarding to investors.

Speaking at the investment forum during GITEX, Shittu, who was said to have addressed an international audience, drew participants from over 40 countries.

He said Nigeria still leads the rest of the continent in terms of market size, a huge population and a pulsating ICT sector.

“Nigeria has a population of about 180 million people, which is more than the total population of the remaining 15 nations in the West African sub-region. Our nation is a huge market and the centre of economic activities in the sub-region as well as ICT development in Africa.

Major investors in the ICT sector should not miss these opportuni-

INFLATION RATE Sept 2016 ..............................17.9% August 2016 ...........................17.6% July 2016...............................17.1%

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

Dayo Ayeyemi Property Editor

Adeola Yusuf Energy Editor

Wole Shadare Aviation Editor

Chris Ugwu

Abdulwahab Isa Taiwo Hassan

Industry, Agric & Brands Editor

Chuks Onuanyin Energy

Johnson Adebayo

Asst Production Editor

CONTINUED ON PAGE 26

EXCHANGE RATE

WHAT'S NEW

EXCHANGE RATE

(Parallel Market October 21)

USD . . . . . . . . . . . . . . . . . . . . . . N456 Pounds . . . . . . . . . . . . . . . . . . . N545 Euro . . . . . . . . . . . . . . . . . . . . . . N495

l Foreign Reserves – $23.930bn as at 24/10/2016

Finance Editor

Senior Correspondent

Being the current value of total investments in Nigeria’s Information and Communication Technology (ICT) sector

Rates Dashboard

Capital Market Editor

Kunle Azeez

N11.1 trillion

ties of mutual benefits, which Nigeria presents,” Shittu said.

Also, Pantami said Nigerian startups ecosystem was already attracting global interest because the international investing community has long realised that market size and a huge mass of talent exist to provide the fillip for technology growth that could play well in the global market.

He said that NITDA was convinced that investment in startups and the promotion of the local startups ecosystem was critical to achieving non-oil national economic growth.

Pantami said: “Our ICT innovations are not targeting local consumption alone, but global consumers as seen in our startups. At NITDA, we have created a special office known as the Office for ICT Innovation and Entrepreneurship (OIIE) to spearhead ICT’s contribution to our GDP through ‘techpreneurs’ and ICT start-ups.

“You may also recall that Mark Zuckerberg, the CEO of Facebook, was in Nigeria two months ago to attend the Aso Villa Demo Day, an initiative by the

(Interbank as at October 21)

USD . . . . . . . . . . . . . . . . . . . . . N316 Pounds . . . . . . . . . . . . . . . . . . .N374 Euro . . . . . . . . . . . . . . . . . . . . . N335

Source: CBN

‘Most civil servants can’t repay N5m mortgage in 15 years’

‘Civil servants can’t repay N5m mortgage in 15 years’

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BUSINESS |NEWS

THURSDAY, OCTOBER 27, 2016 NEW TELEGRAPH

Most SMEs now insolvent, say industrialists CLOSURE

L-R: Chairman, Sierra-Leone Leadership Awards, Mr. Henry Serry; CEO Keystone Bank Sierra-Leone, Mr. Ime Okon, making remarks after receiving the Best Bank of the Year and Best Foreign CEO awards and, Chairman Organising Committee, Sierra-Leone Leadership Awards, Mr. Peter Sasellu, in Freetwon… last weekend.

Many of the Small and Medium Enterprises (SMEs) owners have closed down Taiwo Hassan

A

t least, one-third of the 37 million Small and Medium Enterprises (SMEs) operators in Nigeria are bankrupt, the Lagos Chamber of Commerce and Industry (LCCI) and Nigerian Association of Small and Medium scale Enterprises (NASME), have revealed.

In a separate interviews with New Telegraph in Lagos, the Chairman of the LCCI Small and Medium scale Enterprises Group (SMESG), Jon Kachikwu and Executive Secretary, NASME, Eke Ubiji, said since the Federal Government is not addressing the challenges confronting the country’s economy in all fronts, many private owners of SMEs are shutting down their factories and sacking workers.

Nigeria, which has suffered devaluation of its currency, is in its first recession for more than 20 years and has been seeking to widen its tax base, to offset lower revenues caused by the slump in oil prices.

For Kachikwu, the realities in the country’s economy indicated that many SMEs companies are at risk, as they can no longer absorb the economic

shocks triggered by the on going recession.

He said the shocks have continued to have serious effect on SMEs’ cash-flow, forcing most of them going into bankruptcy and cut millions of jobs.

Acknowledging that the government undoubtedly kickstarted the diversification of the country’s economy, the LCCI SMESG boss lamented that the initiative is not having positive impact on the economy, especially in the SMEs sector.

He said the government needs to declare economic emergency in the SMEs sector and focus its policy attention towards reviving the sector’s growth.

According to him, the SMEs

Nigeria targets N16trn ICT investment by 2018 CONTINUED FROM PAGE 25 teau State, Prof. Sonni

Nigerian Presidency to identify and promote 30 start-ups with the brightest home-grown innovative solutions.

“For instance, Mr. Zuckerberg admitted that he was “blown away” by the talent of young Nigerians. Many of his social media comments after the event have reflected this. We invite you, our potential investors, to take advantage of these massive talents as you invest in Nigeria.”

While assuring prospective investors of government’s commitment to safeguard their investment, he said: “The business environment in Nigeria is favourable.

Our current administration recently formed a presidential commission to significantly improve our Ease of Doing Business rank. Efforts are also underway in the Nigerian Senate to review the tax laws to aid the presidential effort to make Nigeria more investor-friendly.”

Deputy Governor, Pla-

Gwanle Tyoden, urged international investors to consider Plateau State in Nigeria as development partners in the mining and hospitality sectors where the state enjoys some level of competitive advantage.

Tyoden also tasked investors to leverage on the over three higher educational and research institutions in the state as basis to promote to strong case innovation hubs, arguing that Plateau offers splendid weather and low cost skilled labour for investment across sectors.

“We invite investors in exploring the great potential in mining, the hospitality industry and huge market for innovation underscored by large numbers of educated and talented youth population,” said Tyoden.

The Africa Investment Forum was comanaged by NITDA and the Dubai World Trade Centre (DWTC), organisers of GITEX.

sector of any country in the world remains the catalyst for the country’s economic growth and development.

He said: “We all know that the country is going through some economic challenges, which chiefly is caused by the fall in oil revenue and the attendant summersaults of the Naira, among other factors.

However, improving SMEs as significant driver of growth, job and economic prosperity at a time such as this is very important. I must not fail to say that the Nigerian SMEs have shown resilience and stamina in absorbing all kinds of economic shocks. These shocks continue to have serious effects on SMEs’ cash-flow and liquidity, forcing most of us

into bankruptcy and thus contributing to the record level of unemployment in the country.

“We commend the transformation initiative of the government towards the diversification of the economy, nevertheless, it is our hope that the government at all tiers will continue to accord highest priority to the formulation of growth-driven policies and provision of infrastructure that will empower SMEs as catalyst for economic development in the country.”

Speaking on the Nigeria’s economic forecasts, the entrepreneur said looking at the current economic realities in the country, the projection by International Monetary Fund (IMF) and others that Nige-

ria’s economy would grow by 2.2 per cent and 3.3 per cent in 2016 and 2017 respectively, will not be possible except the government comes up with peopleoriented policy framework.

Consequently, he said Nigeria might only achieve 1.1 per cent in 2016 and 1.7 per cent in 2017.

However, Ubiji said SMEs operators’ plights are worrisome, attributing it to the government’s insensitivity towards the sector’s growth.

He agreed that basically many of the owners of SMEs businesses have closed down and the ones that are remaining are also struggling to remain in business because of the economic downturn in the country.

‘Civil servants can’t repay N5m mortgage in 15 years’ UNSUSTAINABLE Expert says applicant must earn at least N202, 526.55 per month to qualify for loan Dayo Ayeyemi

M

ost of the civil servants, especially those from levels 1 to 10, cannot repay mortgage loan of N5 million over a period of 15 years, New Telegraph has learnt.

This, according to President, Real Estate Developers Association of Nigeria (REDAN), Rev. Ugochukwu Chime, is because with current average cost of a two bedroom unit in Abuja, Lagos, Port Harcourt, Enugu, Kano and Kaduna in the region of N8 million, no low income earner can bear the repayment plan.

Besides, inflation and the ongoing economic recession have rubbished the consolidated public service salary structure for Federal Civil Servants and the Federal Mortgage Bank of Nigeria (FMBN)’s National Housing Fund (NHF) affordability for loans from N1 million to N15 million at six per cent interest rate, depriving major-

ity of government workers access to mortgage.

Speaking in Lagos on the challenge of housing affordability in Nigeria, Chime explained that the repayment of a loan of N8 million over a period of 15 years at six per cent interest rate through the NHF scheme, which is the cheapest, would amount to N68,000 monthly.

To be able to afford the loan’s repayment, he stated that a prospective mortgagor-applicant must earn at least N202,526.55 per month to be able to get the said loan amount.

Home affordability gap among home seekers, the REDAN boss said, has become an endemic factor plaguing citizens in their quest for homeownership.

He said: “It is evident that affordability gap, which is the difference between the required monthly mortgage repayments for a house and the maximum 33 per cent that can be deducted from the total take-home-pay of a prospective homeowner, is an endemic factor plaguing the Nigerian citizenry in their quest for homeownership.”

“Considering the fact that an estimated 70 per cent and 80 per cent of civil servants are on grade level 1-10, it is obvious that most federal civil servants can hardly qualify to buy a house of over N5 million. The challenge is more glaring, if one notes the

fact that states and local government workers earn less than what is obtainable at the federal level.”

On factors liable for high cost of house, Chime stated that high cost of land, exorbitant costs of building materials, infrastructure, title documents, planning permit, fund and labour were contributing causes.

He added that absence of tax incentives and concessions to attract investors and to reduce the cost of doing business in affordable housing provision has been a major challenge to affordability.

“These and other factors have made the cost of construction of residential housing to be high and out of the reach of the average Nigerian,” he said.

To promote home affordability among accommodation seekers, he suggested that the existing paucity of knowledge and understanding of the paradigm shift that has occurred in approach to home ownership amongst all the stakeholders must be tackled.

“Housing with its potential for shelter satisfaction, employment generation, inclusive economic growth and multidisciplinary nature cannot be managed with the current isolationist approach. Stakeholders involvement in the products and process must be fully aligned in a properly defined and mutually beneficial value chain roadmap,” he added.

InDUSTRY

THURSDAY, october 27, 2016 NEW TELEGRAPH

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Polyethylene Zipper Bag Plant

BoI: Rescuing ailing SMEs with soft loans Last week’s pronouncement by the Bank of Industry (BoI) to roll out N2 billion loans to support micro small and medium scale enterprises (MSMEs) till end of the year would spur Nigeria’s growth. TAIWO HASSAN reports

Challenges No doubt, the country’s SMEs sector is experiencing one of the most difficult challenges in a decade. The reasons are not far fetched - the economic crisis in the country that has stunted growth.

Indeed, the sector, which is supposed to be the engine room of economic transformation, has been impaired, thus fueling uncertainties among the 37 million SMEs operators in the country.

Specifically, the SMEs are currently groaning under paucity of fund and harsh operating environment, which is forcing them to shutdown operations.

Undeniably, the SMEs are really at the receiving end of the country’s economy, as challenges such as, epileptic power supply, inability to access foreign exchange (FX) for importation of raw materials and equipment, paucity of fund, multiple taxation and infrastructure deficiency among others, have affected businesses drastically.

This is also evident in the negative growth recorded in the first three quarters of this year in the country’s (Gross Domestic Product).

Intervention fund However, the recent pronouncement by the acting Chief Executive Officer, BOI, Waheed Olagunju, that the lender would be disbursing N2 billion in loans to MSMEs before the end of 2016 is a promise that must be delivered within the stipulated time frame.

Olagunju, who stated this in Lagos recently, said the bank was ready to assist ailing SMEs at this period of recession.

Indeed, the measure will create millions of employment opportunities, reflate the sagging economy and significantly reduce import dependence for basic goods and services all in one stroke.

It is an opportunity to turn the tide against the vicious circle of unemployment, poverty and rising crime rates.

A survey by the National Bureau of Statistics in 2013 revealed that there are 37 million MSMEs in the country but 36.6 million of these are micro ventures such as barbing salons, mechanics workshops and eateries, among others.

If each of such enterprises employs just two workers, it means they provide employment for almost 80 million Nigerians or around 50 per cent of the country’s citizens.

Stakeholders have urged BoI to be cautious on the proposed soft loan to avoid a repeat of CBN’s N220 billion MSMEDF rolled out in 2012

Easing access to funds will not only enhance the existing businesses but will also lead to the creation of millions more MSMEs. It is critical to make this call because previous programmes to provide funding for small businesses were stalled by several factors, including lack of political will, diversion of funds often for political campaigns and, cumbersome application processes.

For instance, since 2012, the Central Bank of Nigeria (CBN) earmarked N220 billion for disbursement to MSMEs across the country under its Micro Small and Medium Enterprises Development Fund (MSMEDF).

The scheme was effectively scuttled when applicants had to go through commercial banks that would demand N2 million collateral for N1 million facility, even when it will be issued at a single digit interest rate.

In addition, a few commercial banks charge up to 24 per cent interest rate on the CBN N220 billion MSMEDF. Similarly, most major banks only entertain companies with collateral worth N10 million and above.

Chambers of Commerce and Industry (LCCI), Muda Yusuf, said that there is need to reposition the country’s SMEs to encourage entrepreneurs to make money, employ more people specifically to meet the three million jobs annually promised by President Muhammadu Buhari.

Yusuf, while speaking on the impact of SMEs on Nigerian economic development in Lagos, said that entrepreneurship played a critical role in the economic growth and development of any nation.

He said the SMEs sector was a purposeful activity involving the initiation, promotion and distribution of wealth and service.

The LCCI DG, however, listed obstacles confronting SMEs to include skills and human capacity issues, harsh business environment, infrastructure lapses, policy and regulatory shortcomings, access and cost of funds.

Others are macroeconomic challenges – forex, interest rate and inflation, multiple taxation and inadequate incentives for entrepreneurial development.

Conclusion Industry stakeholders have urged BoI to be cautious on the proposed soft loan to avoid a reRepositioning peat of CBN’s N220 billion MSDirector-General of Lagos MEDF rolled out in 2012.

Firm reiterates commitment to local raw materials Taiwo Hassan

T

he management of Guinness Nigeria Plc has restated its intention to raise the use of locally sourced raw materials from 43 per cent to 87 per over the next two years in line with its parent company- Diageo’s commitment to Nigeria’s local content development.

Managing D i re c t o r, Guinness Nigeria Plc, Peter Ndegwa, said this known at the formal commissioning

of a water and sanitation project built and donated to the Tyowanye Community in Buruku Local Government Area of Benue State.

He said the company planned to use crops such as sorghum and maize, which have been part of its sourcing strategy for over a decade now in production.

Already, Diageo, Guinness Nigeria’s parent company had pledged to source 80 per cent of raw materials used in its operations in Africa locally by 2020.

The Guinness Nigeria boss, however, expressed delight at the interest shown by the Benue State Government in this initiative.

The Tyowanye water scheme, which comprises two solar-powered boreholes and two blocks of VIP toilets, will benefit over 10,000 people in the community. It is one of three major water schemes the company has delivered this year in collaboration with its Non Gover nmental Organisa-

tions (NGOs) partners and is the 35th project Guinness Nigeria has delivered under its Water of Life initiative.

Speaking at the event, Governor, Benue State, Dr Samuel Ortom, said that his administration would be delighted to further partner with Guinness Nigeria in the area of agriculture where the state, known as the food basket of the nation is able to provide all the agricultural inputs Guinness Nigeria requires in its operations.

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business \ industry

THURSDAY, october 27, 2016 NEW TELEGRAPH

Manufacturing plants: Auto makers, NASS in talks FUNDING One of the obstacles for automakers in African markets is the absence of accessible vehicle financing

Taiwo Hassan

A

group of auto makers led by executives from Ford Motor Company and Nissan Motor will begin further talks with lawmakers in the National Assembly over the formers’ plan to establish local auto manufacturing plants in Nigeria.

The group under the auspices of the African Association of Automotive Manufacturers (AAAM), which also includes Toyota Motor Corporation, General Motors Company, BMW AG and Volkswagen AG, said it had concluded plans to invest billions of dollars in key African countries in which Nigeria was one of them in other to build their own auto market.

Similarly, the group, according to Bloomberg news, said it will seek to work with Kenyan authorities to develop an automanufacturing industry in the East African country.

The group said the talks with the Nigeria’s lawmakers and other government agencies was informed by its zeal to take advantage of a new surge of interest from African governments in building vehicles locally.

Ford sub-Saharan Africa Chief Executive Officer Jeff Nemeth, who chairs the group,

said the interest in developing auto industries in sub-Saharan Africa has grown as oil- and commodity-dependent countries now seek to diversify their economies amid weaker prices.

He said last August, the group urged President Muhammadu Buhari and senior officials to limit the inflow of barely used second-hand cars and firm up policy for prospective carmakers and parts suppliers.

“What we talked to them about in all the meetings is that, if you are really interested in this, then it can’t just be about bringing assemblers in,” Nemeth said in an interview at the company’s Pretoria, South Africa plant.

He added: “It’s got to be about bringing in the whole value chain, the whole ecosystem.”

He said that the association

advised the Federal Government to ban imported used cars that are one year old or less, and place higher tariffs on one- to five-year-old vehicles.

“The group didn’t suggest immediate measures against imported vehicles older than that, simply because there’s no affordable alternative for many Nigerians,” according to Nemeth.

He said: “In time, older second-hand cars would come from vehicles built in the country.

While automakers have started the assembly of light vehicles in Nigeria from imported kits, they are still a long way from full-scale manufacturing.”

He noted that Nigeria’s economy and vehicle demand have been hurt by lower oil prices, prompting Ford to halt assembly of its Ranger pickup truck

T

he management of Standards Organisation of Nigeria (SON) has reaffirmed its readiness to support stakeholders in Small and Medium Enterprises (SMEs) with the required standardisation needed to boost their businesses in the country.

Director-General/Chief Executive Officer of the agency, Bar. Anthony Osita Abaloma, gave this assurance during 2016 World’s Standards Day celebration in Lagos.

Abaloma, who was represented by SON’s Director of Standards, Abiola Komolafe, spoke on the theme: ‘Standards Build Trust.’

He said that support for the SMEs operators was critical at this period of economic recession in the country to protect their products.

The SON boss added that standardardisation is needed to enhance consumers’ expectations, safeguard lives, as well as, boost the country’s economy.

He explained that the agency would continue to

cluding plans for a N23 billion ($73 million) assistance fund.

According to Mamudu, an application for a Nigerian banking operating license will be submitted to the Central Bank of Nigeria (CBN) this week for Wesbank, sub-Saharan Africa’s largest provider of auto loans.

He said that the government will contribute an initial N7.5 billion to the fund, to be managed by Wesbank, and additional funds are being sought from development finance institutions and Nigerian banks.

Mamudu said that the National Automotive Council is also in talks with auto component manufacturers including Robert Bosch GmbH of Germany, China’s Miracle Automation Engineering Company and industry groups in India and South Africa.

L-R: Head of Retention, MultiChoice Nigeria, Kemi Omotosho; Brand Manager, MultiChoice Nigeria, Tope Oshunkeye; General Manager, Marketing and Sales, MultiChoice Nigeria, Martin Mabutho and Public Relations Manager, MultiChoice Nigeria, Caroline Oghuma, during the press conference to announce ‘Business Unusual’ - introducing additional content across DStv packages... in Lagos

SON assures SMEs on standardisation Stanley Ihedigbo

in the country earlier this year.

In his own submission, the vice chairman of the AAAM and Yokohama, Japan-based company in South Africa, managing director, Mike Whitfield, said Nissan’s assembly of Patrol sport utility models continues, although at lower levels than the automaker would have liked amid a shortage of foreign currency.

Whitfield said another obstacle for automakers in African markets including Nigeria and Kenya is the absence of accessible vehicle financing.

On auto financing, the Director of Policy and Planning for the National Automotive Council, Luqman Mamudu, said that the federal government is working with Johannesburg-based FirstRand Limited’s Wesbank unit to identify solutions, in-

emphasis standardardisation as a yardstick to strengthen the SMEs products, make it more competitive and spur Nigeria’s economic development.

The SON boss urged all stakeholders to support the drive by the agency to achieve its desired standardisation programme, which is aimed at eradicating fake products and substandard goods out of the country.

Noting that standards make everyday life easy and safe, Abaloma noted that it is also a tool for development, adding that SON had developed thousands of standards applications for different sectors of the economy.

The SON boss further added that the agency had also organised series of seminars and workshops tailored at sensitising and educating Nigerians on the imperative of standardisation.

He said: “Standardisation does not only lead to productivity, but also, gives quality of life. So we want all Nigerians to join hands with us to optimise the ben-

efits of standards because it is one way of encouraging the nation’s developmental expertise.”

In his submission at the occasion, Centre Manager, Technology Incubation Centre, Julie Momah, commended SON for showing interest to collaborate with the Centre in marking the World Standards Day. She said standards formed the fundamental building blocks for products development by establishing consistent protocols that can be universally understood and adopted.

“Standardisation also makes it easier to understand and compare competing products. As standards are globally adopted and applied in many markets, they also enhance international trade facilitation,” she said.

Momah addd: “It is only through the use of standards that the requirements of interconnectivity and interoperability can be assured. It is only through the application of standards that the credibility of new products and new markets can be verified.”

Recession: NGOs urges Nigerians to engage in small businesses

N

igerians have been urged to see the current recession in the country as an opportunity to engage in small businesses and become entrepreneurs.

The Representative of the Centre for International Private Enterprise, CIPE, Haroun Audu whose organisation is partnering with the Plateau Coalition of Business and Professional Associations, PLACOBA to create enabling environment for small businesses to thrive in the State expressed the view at a press briefing in Jos, Plateau State where he called on the media to support small businesses to grow by generating the necessary awareness and understanding required to strengthen the capacity of businesses in the country.

Speaking, Audu disclosed that CIPE is a United States based organisation whose primary objective is to strengthen democracy around the globe through private enterprise and market oriented reform, assisting business coalitions to develop business agenda

which are important tools that allow private sector actors to collectively identify and discuss the obstacles to the development and growth of the business sector and propose potential solutions to those problems.

He also emphasised the need to hold a media workshop to enhance the capacity of professionals as partners who would engender an enduring and viable business climate and “provide solutions to the problems faced by businesses and professional associations in Nigeria.”

According to him, “Nigerians should see the recession as an opportunity to go into businesses, the media should support small businesses to grow and in view of your pivotal role in generating the necessary awareness as well as being an important plank for the continuing survival of the several medium, small and micro enterprises, there is need for media professionals to be trained so you can better appreciate the role of the media in projecting the activities of the coalition.”

THURSDAY, october 27, 2016 NEW TELEGRAPH

eWORLD

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Dawn of Nigeria’s 4G-LTE revolution Telecoms operators’ recent quest to roll out fourth generation long term evolution (4GLTE) technologies has been described as the next big thing in digital revolution that will deepen broadband penetration and impact positively on the nation’s economy. KUNLE AZEEZ reports

N

igeria’s telecommunications sector has recently been agog with a keener scrambling among operating companies to lead the way in the deployment of; and offering of services on Fourth Generation Long Term Evolution (4G-LTE) technology in the country.

According to analysts, the renewed contest among telcos is understandable, given that the ability of an operator to provide reliable high-speed Internet service on a network such as 4G-LTE is expected to hold sway as the next revenue potential for operating companies and a key determinant for retaining existing subscribers while signing up new contracts.

With Nigeria’s $35 billion telecoms industry expected to reach 30 per cent by 2018 from its current 20 per cent, the roll out of 4G-LTE networks has apparently become imperative for the industry to bring the auspicious broadband access target to fruition.

Data as next frontier Voice market is gradually entering saturation stage according to the latest industry data released by the Nigerian Communications Commission (NCC).

For instance, latest industry data released by the Commission showed that while there are over 152.8 million active telephone lines on mobile networks, the country can only boast of about 79 million mobile Internet users, leaving a large number of the population unconnected to the Internet.

However, increased investment in high-speed Internet or broadband deployment has significant impact on socio-economic growth of a nation.

According to a World Bank report, a 10 per cent increase in broadband investment in any developing economy would result in a 1.38 per cent increase in economic growth.

As such, the current drive by the operators with the full backing of the regulator to see 4G-LTE technology flying in the country presents an elixir for Nigeria to accelerate its broadband penetration through the provision of high-speed Internet services to telecoms consumers.

Global picture of 4G LTE deployments According to a study by GSMA Intelligence, the number of 4G-

Source: www.humbs.dreamstime.com

LTE connections worldwide will pass one billion by next year.

GSMA said LTE users consume 1.5GB of data monthly on average, almost twice the average amount consumed by non-LTE users.

By next year, it is forecast that 4G LTE will account for about one in eight of the over eight billion total mobile connections forecast by that point, up from 176 million LTE connections at the end of 2013.

In the same vein, nearly 500 LTE networks are forecast to be in service across 128 countries, roughly double the number of live LTE networks.

4G-LTE as new edge In Nigeria, telecoms operators may have started a fresh scrambling for market share in the provision of high-speed data services on 4G-LTE networks, according to industry analysts.

In Nigeria, telecoms companies such as Spectranet, Swift Networks and Smile Communications – all Internet Service Providers (ISPs) - have since claimed to be offering 4G LTE services in the country.

However, these companies have recently been joined by other big operators such as ntel, MTN, Globacom, Etisalat and even Airtel Nigeria, announcing their 4G LTE services and consequently dangling various 4G packages in front of the telecoms consumers.

On February 25, this year, the NCC granted approval to NATCOM Development and Investment Limited, trading in Nigeria as ntel, to launch its voice over LTE (VoLTE) call services while data services have also started running.

Following this, Globacom, riding on its Glo 1 submarine cable, early this month, fired up ‘Nigeria’s first nationwide mobile 4G Long Term Evolution (LTE) network.’ At launch, the service was live in major cities such as Lagos, Port Harcourt, Abuja, Jos, Warri, Eket, Benin City, Yola and Zaria.

Within a week of commercial launch, the indigenous GSM company had extended the service to additional eight locations including Bonny, Escravos, Forcados, Abraka (Delta State University), Ekpoma (Ambrose Alli University), Okada (Igbinedion University), Agbor (College of Education), and Sapele (Western Delta University).

The 4G-LTE revolution received a boost when, on October 6, MTN

Affordability would remain an issue to contend with by telcos to encourage telecoms consumers to migrate to 4G-LTE plaform

formally launched its LTE services in Abuja with the availability of the service in Abuja, Lagos and Port Harcourt riding on its acquisition of 2.6Ghz spectrum auctioned by the regulator earlier in the year.

Not wanting to be left behind, Etisalat Nigeria also joined the fray on October 14, by organising a demo event for its 4G LTE service, which it said, was being made available ‘strategically to customers in the Lagos Mainland areas of Yaba, Surulere and Ikeja as they represent the hub and future of technology and economic development for Nigeria.’

On April 14, this year, Airtel said it had completed testing of its 4G LTE network in Lagos as part of the telcos’ quest to pioneer a new phase of telecoms revolution in the country.

With the test in Lagos, Airtel said then it would start tests in other cities such as Abuja and Port Harcourt but so far, Airtel has been mum on when its 4G LTE service will be launched officially.

New Telegraph learnt that until recently, when the country started witnessing a bandwagon trend of 4G-LTE rollout by telecoms companies, most operators were hitherto on either 3.5G or 3.75G technologies with 2.5G still being used in some locations across the country.

What 4G LTE means for subscribers Long Term Evolution is the next big thing in telecommunications with lots of major networks in the world rolling out 4G LTE networks.

A lot of mobile devices now feature LTE such as the Microsoft Lumia 950, iPhone 6S, Samsung Galaxy S7, iPad Pro, and many more.

LTE, according to Global System for Mobile Communications Association (GSMA), offers superfast data speed up to 100Mbps.

“With the recently purchased 2.6 GHz band, MTN will roll out immediately to provide the full range of LTE services to Nigerians, empowering Nigeria with the latest mobile broadband technology,” said MTN Nigeria Chief Executive Officer, Ferdi Moolman.

Globacom’s Head, Corporate Sales, Mr. Kamaldeen Shonibare, said the Glo 4G LTE network offers subscribers a ‘significantly improved experience,’ noting that the new technology would enable Globacom to empower most of its 152.8 million telecom subscribers in Nigeria to have access to the Internet at a much faster speed, enjoy ultra high definition video without buffering and utilise other high intensive data applications with ease.

Ditto, Vice President, Marketing,

Etisalat Nigeria, Adebisi Idowu, said while there has been an increasing number of people trying to get online, “Etisalat 4G LTE service is to help Nigerians to get their work done and impact lives.”

He added that the telco’s goal was to enable such people exploit their potential through high-speed Internet.

Airtel’s Chief Executive Officer, Mr. Segun Ogunsaya, has also maintained that with LTE services, Nigerians subscribers would experienced better services that would make telecommunications service more enjoyable for them.

NCC’s commitment Speaking on various efforts at deepening high-speed Internet, NCC Executive Vice Chairman, Prof. Umar Danbatta, said “In the recent wireless broadband frequency bidding process for 2.6Ghz spectrum by the Commission, MTN Nigeria emerged the winner of six slots. The licensing of frequency in this slot has suffered several setbacks until recently when six slots out of 14 made available by the Commission, were allocated for immediately deployment of 4G-LTE services.

“We have also initiated processes for licensing of more broadband services on the 5.4 GHz spectrum band while we have opened the process for the allocation for frequencies in the 70/80 GHz band (EBand),” he said.

Experts’ views A telecoms analyst, Mr. Akin Akinbo, said “The way we have seen intense competition in the area of mobile subscriptions in the country in the last 15 years of telecoms deregulation, we also expect the that we enter into another space where telecoms operators and other Internet Service Providers (ISPs) have to compete to outsmart rivals in 4G LTE subscriptions.”

Another industry analyst, Dr. Bayero Agabi, maintained that provision of high-speed Internet on a network such as 4G LTE platforms is expected to hold sway, as the next revenue potential for operating companies and determinant of subscribers’ service choice.

Conclusion Going forward, Senate Committee Chairman on Communication, Gilbert Nnaji, has stated that operators’ investment in LTE deployment is in support of the Federal Government’s drive to deepen broadband penetration in the country, stressing that affordability would remain an issue to contend with by telcos to encourage telecoms consumers to migrate to 4G-LTE plaform.

30

business \ eWORLD

THURSDAY, october 27, 2016 NEW TELEGRAPH

Cybercrime: How to tackle N78bn yearly losses, by FG TEAMWORK Strategic collaboration is needed among stakeholders to develop an all-inclusive framework for combating cyber threats Kunle Azeez

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he Federal Government has listed key measures to be taken in Nigeria by individuals, corporate organisations and the governments to combat the N78 billion annual losses to increasing wave of cybercrime in the country.

The Minister of Communications, Mr. Adebayo Shittu, listed the strategies during a recent national computer science conference on cyber security and the emerging African economies at Igbinedion University, Okada, Edo State.

According to Adebayo, an effective response to cybercrimes requires a robust network security, including appropriate network architecture and software, use of encryption, data protection legislation, information secu-

rity standards and other tools of threat protection and detection.

Other counter measures are to increase the awareness of information and communication technology (ICT) and cyberspace stakeholders on the need and possible strategies for combating and defeating cybercrime in all its ramifications and reduce the risk of data breaches and financial losses.

He said the country also

needed to improve the capacity of relevant ICT and cyberspace stakeholders for the training and support of cyber security officials; share cyber security best practice from across the globe; build the capacity of local law enforcement in cybercrime prevention and cyber security footprint and ensure our curriculum adopt Internet Security education. Besides, he stressed the need for advanced application development for

Pot, System On Chip (SOC) and many more as well as show effectual strategies for drawing on the strengths of telecommunications in their efforts to tackle cybercrime,” he said.

Adebayo, however, said the Internet and digital technologies are the biggest transformational forces in the world today.

“There are over five billion Internet-connected devices globally and in 2015 online commerce contributed over L-R: Minister of $10 trillion to the global econCommunications, omy,” he said.

Mr. Adebayo Shittu; According to him, the Plateau State, Deputy changing nature of economic Governor, Prof. Sonni and territorial threats have Gwanle Tyoden; Head, raised global concerns, stressCivil Service, Mrs. ing that the growing role of cyWinifred Ekanem Oyoberspace has opened up new Ita; Director General, threats and new opportunities.

National Information “This country must find Technology ways to confront and overDevelopment come these threats if we are to Agency, Dr. Isa remain functional as a soverIbrahim Pantami eign entity in an increasingly and Permanent competitive and globalised Secretary, Ministry of world,” he said.

Communications, Mr. He, therefore, disclosed that Sunday Echoro, at the in the face of rising global inrecently-concluded security and terrorism, the Gulf Information ministry is ready to partner Technology Exhibition with agencies to catalyse and in Dubai. develop world-class human and institutional capacity in cyber security.

According to him, the need for other frameworks such “Aniwura offers users of as cyber security awareness the platform incredible benacross business; cooperative efits including exclusive acarrangements between law cess to the Aniwura Marketer enforcement and communicaIncentive Programme where tion service providers across registered marketers can earn the nation and a criminal commission and special points justice system that facilitate privileges by refereeing entrethe efficient prosecution of preneurs to subscribe the marcases of cybercrime are very germane. ketplace,” she said.

She urged buyers to explore “As we plan to settle into the businesses of over 2000 our duties of protecting our individual or corporate data, subscribers and contact them to have access the unique benwe ought to be continuously efits they have to offer. conscious of the reality of the cyber woes out there. Hence, Aniwura.com, she said, is there can be no better time to an online marketplace that allows buyers to shop free while emphasise the need for strategic, continuous and innosuppliers and merchants pay vative plans with respect to discounted fee as annual subprotecting our cyber space,” scription to have access to milhe said. lions of corporate buyers. capacity building and the encouragement of continuous research for development of indigenous security solutions, applications and tools to combat emerging threats in the fifth domain.

“We also need to build different layers of security defence such as installing Anti-virus tools, Firewall, Intrusion Prevention System (IPS), Intrusion Detection Systems (IDS), Data Loss Prevention (DLP), Honey

‘eCommerce site nets 2,000 subscribers in one month’

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ne of the latest players in the nation’s e-commerce industry, aniwura.com, has recorded over 2,000 businesses subscribing to trade partnerships on its portal barely one month after its pre-launch.

Founder and Chief Executive Officer, aniwura.com, Mrs. Iwayemi Ogomudia, disclosed this to New Telegraph in Lagos last weekend.

Aniwura.com is a new emarketplace and a marketing platform built to provide visibility to Nigerian businesses and a gateway for the international market to access the lucrative Nigerian market via a multi-dimensional model that offers business-to-

O

ne of Nigeria’s digital pay-television company, StarTimes has reiterated its investment commitment towards ensuring quality nationwide signal coverage and innovative offerings both for content bouquets and decoder products.

The company said it was bent on achieving this by developing and deploying technological infrastructure and roll out plans that guarantee very clear digital terrestrial and satellite TV signals to Nigerian TV households.

It said the commitment was consistent with its renewed drive to improve digital TV entertainment services and viewing experience for Nigerians and further deepen the penetration and acceptance of digital TV across the nation.

“The company is particularly interested in building and providing quality nationwide signal coverage and innovative

business(B2B) and business-togovernment (B2G) and Onlineto-Offline services on “a single platform” to the global community.

Expressing excitement at the response the platform is getting from the business community, Ogomudia, said that the company was inspired to help subscribers give their businesses visibility on the e-marketplace and help them gain access to hitherto inaccessible markets.

“Now, we are over 2000-member strong in just one month.

This is exciting for us. We continue to be inspired to helping our subscribers give their businesses visibility on the marketplace and valuable

benefits from one-of-a kind partnerships with merchant partners as we continue to build the team.

“Aniwura is focused on how to create the avenue for Nigerian (nay African) manufacturers, wholesalers and distributors to join their foreign counterparts who have moved on from owning shops that can generate sales in the streets only to a common marketplace where they can easily be found and fulfill sales orders to customers across the country and globally,” she added.

She urged businesses to take advantage of the ongoing promo window that will last till November to join the platform.

StarTimes restates pledge to quality services, products offerings, which translate to pleasurable hours of digital television viewing with sharp images and stable signal for subscribers,” said Head of Public Relations at StarTimes, Mr. Israel Bolaji, said.

He said: “Since 2010, we have demonstrated this commitment by consistently upping our game in terms of growing our signal strength, quality and nationwide reach.

“In 2010, StarTimes signals covered only four states, today, our signal coverage covers 35 states and extends to over 60 cities, including recent roll outs in some remote areas of Badagry, Epe, Ikorodu and Iyana Iba in Lagos.”

He said that StarTimes’

subscribers have, through their consistent patronage, fueled the pay-TV company into going the extra miles for their viewing pleasure.

“We are covering the whole nation with improved signals including all states, FCT, historical cities and even rural areas. Over the years, we have grown the quality of our signal by investing massively in world class facilities and technologies and we are fast spreading the coverage nationwide. With this, we hope to connect every household in Nigeria to our digital TV platform and most desired content offerings, and also prepare the Nigerian masses for digital TV switch over era.

BusinessHiLights.com goes live

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new online news channel, Business HiLights, has been unveiled in

Lagos.

Business HiLights according to a statement, is ready to do business with every corporate organisation both home and abroad.

The news gateway was floated by a group of veteran business journalists, who have reported key sector of the economy over the years to redefine online business reportage for the interest of the economy.

Explaining the idea behind the introduction of the medium during the launch, Founder and pioneer Editor of Business HiLights, Prince Stan Okenwa, said, “Business Hilights is an online news channel conceptualised and structured to

report and track on a daily basis; latest developments in critical business sectors to serve as a one-stop news gateway for the governments, foreign and indigenous investors.”

Within his over 15 years of journalism, Okenwa has reported major sectors of the economy including capital/money market, property, transportation, industry, maritime, Information and Communication Technology, among others.

Explaining more on the categories coming with the site, he said: “The value added site has seven categories made of key sectors of the economy and are updated regularly to serve the Nigerian business communities in making key decisions and taking strategic business steps.”

31

THURSday, OCTOBER 27, 2016 NEW TELEGRAPH

News Experts differ on right time to eat fruits

Health Out of every 13 women giving birth in Nigeria, at least one dies due to pregnancy-related issues. But taking advantage of family planning interventions to stem the tide remains a huge challenge, reports APPOLONIA ADEYEMI

Interview ‘We must demystify mental illness’

32 33

Curbing maternal mortality with family planning

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he new baby of Mrs Ekaete Udom was barely three months when she conceived again.

Her new state was not only shocking, it was embarrassing.

As a graduate with BSC Nursing, she is aware of the importance and benefit of child spacing. Similarly, the advantage of using contraceptives to prevent unwanted pregnancies is not new to her.

However, Udom didn’t take advantage of both. The present burden is what does she do with another pregnancy considering the age of the baby at hand. In no time, an idea flashed through her mind - she left her husband’s home in Isheri-Oke area of Lagos and went to live temporarily with her mother who resides in Lekki.

Being out of sight, it was easy to evade prying eyes and rumours about women who get pregnant too close to a previous delivery. The good news is that nine months after, her husband, Mr. Nelson Udom came to announce safe delivery of the new baby in Isheri Oke. “How,” a resident of Isheri Oke that was first to hear the news asked. “Was she pregnant?” She asked again.

Although, some doubted, the arrival of Mrs. Udom and her new baby at Isheri-Oke for the traditional naming ceremony of the baby convinced all that it was a true story. Mrs. Udom was lucky because the baby was delivered safely.

Another housewife, Mrs. Adun Cooker, who was a resident of Ido-Ekiti in Ekiti State who went through a similar experience, did not live to tell

Appolonia Adeyemi Health Editor

appolonia.adeyemi@newtelegraphonline.com

© Daily Telegraph Publishing Company Limited

Oral contraceptive

her story. As soon as it became clear that she had conceived four months after the previous delivery, she believed that the way out was to terminate the pregnancy. Sadly, Mrs Cooker procured abortion from a quack nurse and died in the process.

She is not alone. Many housewives have died in the course of terminating unwanted pregnancies in Nigeria in the hands of unskilled personnel. So are numerous adolescents. In Nigeria, abortion is illegal but allowed only to save a woman’s life and in some cases of health challenge.

Investigations however revealed that while some couples and singles face the ordeal of unwanted pregnancies, free family planning interventions are available in states and local government areas.

Contraception, or birth control, is the use of different devices, sexual practices, techniques, chemicals, drugs, and/or surgical procedures to purposely try to prevent getting pregnant while having sex.

There are several types of birth control methods that have been officially labeled as contraception—they have been shown to be reliable in preventing conception from taking place.

In addition to contraception, birth control is also referred to as family planning, contraceptives, pregnancy prevention, and fertility control.

While some couples and singles face the ordeal of unwanted pregnancies, free family planning interventions are available

During investigations of ‘Uptake of Family Planning Commodities by Rural Commodities in Lagos’ recently, it was found that though family planning commodities were available in Eti Osa Local Government in Lagos, their uptake by women in the community was seriously hindered by myths, religious and cultural practices. For instance, rather than accept these commodities that were provided free and use same, three women who spoke with the New Telegraph HEALTH claimed it was better to keep off the products because of the associated side effects including weight gain especially around stomach areas, irregular bleeding, failure to achieve conception even when the use of the family planning commodities had been discontinued, among others.

The experience of women from Gbagada area of Lagos was not different. Only a few clients go for these family planning interventions which medical experts call life-saving measures.

It is estimated that only 10 per cent of Nigeria’s population use family planning. Yet, every day, Nigeria loses 145 women to pregnancy related causes.

Also, during the investigations in Ikorodu, Ijaye and Lagos Island, it was found that the uptake of family planning commodities was low, resulting in many unplanned pregnancies and abortions both of which contribute significantly to maternal deaths.

According to a new report,

‘Maternal Health in Nigeria: A Situation Report’, although, an estimated 9.22 million pregnancies occur annually in Nigeria, a quarter of these pregnancies were unintended and 56 per cent of the unintended pregnancies were aborted.

“In 1996, an estimated 600,000 abortions occurred in the country and the number of abortions rose to 760,000 in 2006, and to 1.25 million in 2012.”

While receiving this report which was presented in Abuja early in October, by Chima O.Izugbara, Senior Research Scientist, the Minister of Health, Prof. Isaac Adewole admitted that the unacceptable maternal mortality in the country could not be addressed without tackling the issue of family planning.

The minister said the promotion of family planning and child spacing are key ingredients to reducing morbidity and maternal mortality in Nigeria.

Earlier, while giving the background of the Report, Izugbara stressed that the majority of the abortions performed in the country were clandestine and unsafe; they are terminated either by persons lacking the necessary skills or in an environment lacking the minimal medical standard or both. As a result, the senior research scientist affirmed that unsafe abortion is a leading cause of maternal mortality and morbidity in Nigeria.

He however reasoned that maCONT INU E D ON PAGE 32

32

Health\News

THURSday, OCTOBER 27, 2016 NEW TELEGRAPH

Experts differ on right time to eat fruits Chidiebere Ejike

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ruit no doubt is of great health benefit to the human body. However, when and how to take fruits have always been a very controversial issue with different opinions from medical experts and other individuals.

While some maintain that fruit is best taken before meal, others are of the view that the best time to take fruits is after a meal.

Some are however indifferent to when to take fruits.

Such persons just buy fruits and pop them into their mouth whenever they feel like. It is expediently imperative to ask: when should fruits be taken?

A professor of Community Medicine and Public Health at the College of Medicine University of Lagos, CMUL, Prof. Bayo Onajole told the ‘New Telegraph HEALTH’ that there are many schools of thought on the issue but noted that he would prefer taking fruits before meal.

Onajole explained that taking fruits before meal aids the digestion of food,

Cucumbers

adding that the nutrients contained in the fruit are completely absorbed into the body when fruits are taken before meal. “Basically, fruits would have been better utilised when taken before meal. This is because fruits aid digestion and all the nutrients in the fruit are absorbed when you take it before meal,” Prof. Onajole said.

Buttressing this view, a Consultant Nutritionist, Dr. Rosemary Akindele in a recent report, said that

PHOTO: trimdownclub.com

fruits should be eaten alone on an empty stomach as it helps in the digestive process. She added that eating fruits before breakfast will help to lower the risk of heart-related diseases like stroke and high blood pressure. “Fruits should be eaten alone on an empty stomach because when fruits are eaten, the digestive process works very quickly and the different enzymes digest the fruits.”

Akindele, who works with St. Patrick Hospital, Lekki-

Ajah, Lagos, said.

For the Assistant Director of Dietetics at the Obafemi Awolowo University Teaching Hospital (OAUTH), Ile Ife, Dr. Obinna Chimela Ogbonna, the time to take fruits depend on a person’s health condition.

He explained that it is advisable for those who have constipation to take fruits before meal. He added that some fruits help to boost appetite hence such fruits should be taken before meal. In his words, “Tak-

Adequate nutrition, key to healthy future Appolonia Adeyemi

E

xper ts have highlighted the importance and benefits of nutrition in every stage of life, saying that good and adequate nutrition from the onset of life is very critical.

President-Elect of the Nutrition Society of Nigeria, NSN, Dr. Bartholomew Brai who disclosed this also affirmed that life begins from conception and the first two years of life have been found to be a critical window of opportunity when it comes to nutrition.

According to him, nutrition during this period in the life of a child has significant impact on a child’s ability to grow and learn which in turn can also shape a society’s longterm health, stability and prosperity.

L-R: Executive Manager, Stakeholder Relations, Mrs. Marie Owoniyi; Head Corporate Communications and Public Affairs, CWAR, Mrs. Peggy Diby; President-Elect, Nutrition Society of Nigeria, NSN, Dr. Bartholomew Brai; Nestle Factory Manager, Agbara, Joseph Walid Hbaika; Mr. Chukwuma Muanya of the Guardian Newspaper; and NNIA, Anglophone CWAR, Mrs. Chioma Emma-Nwachukwu at the Nestle workshop for health editors, held in Agbara recently

Brai spoke at the 2016 edition of Nutrition Media workshop organised by Nestle Nigeria at the Nestlé Agbara Factory. The workshop was attended by over 35 media participants.

The theme of the workshop is:, “Good Nutrition: A Way of Life”, was aimed at reinforcing nutritional knowledge of media pro-

fessionals in order to improve their nutrition reporting.

Brai stressed the need for right nutrition. He presented an overview of the nutritional challenges in Nigeria and how private and public sectors, including society and media, have to work together to address these issues and

change the future positively.

In his presentation, “Nutrition reporting: The Critical Role of Media People,” Mr. Chukwuma Muanya of The Guardian Newspapers urged the media to help educate people on the nutrition landscape and raise awareness on adequate nutrition.

ing fruits is just like taking drug prescription. There are some drugs you take before meal while there are others you take after meal and these conditions are for various reasons. So, also it is with fruits. Some fruits are best taken before meal as the fruits help to increase your appetite. Some other fruits are taken after meal to aid digestion. More so the health condition of the person taking the fruits matters as well. For example, those who have constipation are usually advised to take fruits before meal. So it is a two way approach.”

However, the National Publicity Officer of the Nutrition Society of Nigeria, NSN, Dr. Olusola Abimbola is of the opinion that fruits can be taken after meal but not immediately.

He said that fruits can be taken 30 minutes after meal or some minutes after meal.

Abimbola said, “It is important that someone does not take fruits on empty stomach. Most fruits contain ascorbic acid which makes the fruits acidic and the stomach contains gastric acid which makes it naturally acidic. So when you eat fruits on an empty stomach, you are increasing the acidity of the stomach.”

Benefits of fruits According to Dr. Ogbonna, there are many health benefits of eating fruits.

He explained that fruits contain antioxidants which help to prevent the upsurge of cancer cells thereby preventing cancer.

He added that regular fruits intake can also help to prevent ulcer.

On his part, Onajole noted that fruits contain micro nutrients which aid metabolic activities in the body.

Furthermore, Dr. Abimbola also said that fruits contain various mineral substances such as potassium, calcium, magnesium, fibre and other vitamins which aid the movement of the bowels. He added that regular intake of fruits help to reduce blood pressure.

Family planning uptake, still low

CONTINUED FROM PAGE 31

ternal health remains an area for urgent policy and programmatic attention in Nigeria, adding that nearly one in every four women in Sub-Saharan Africa is a Nigerian.

Izugbara stressed that the plight of women in Nigeria would vastly impinge on the achievement of the Sustainable Development Goals, SDGs, in the region, adding that investing purposely in safe-

guarding maternal health in the country was a sure strategy for improving on the current levels of progress and guaranteeing the future potential for growth and advancement in Africa as a whole.

The senior research scientist attributed top medical causes of maternal mortality in Nigeria to obstetric haemorrhage, infection following childbirth, unsafe abortion, eclampsia and obstructed labour, all of which medical experts

agreed were largely treatable and preventable.

Similarly, a Professor of Obstetrics & Gynaecology, Emmanuel Dipo Otolorin identified family planning as one of the major factors that can reduce the maternal and new born mortality rate in the country by as much as 44 per cent. “It saves lives of women, children and teenage girls” Otolorin added.

According to him, 95 per cent of the causes of maternal death can

be prevented.

He said: “If you use family planning, you prevent unplanned pregnancy, and you prevent unwanted pregnancy. You use it to space your pregnancy as well as delay your first pregnancy. You use it to limit the number of children you want.

“If you don’t get pregnant, you cannot die from pregnancy. We need pregnancy to fulfill our physiological needs, but we can plan it and do it when it is least dan-

gerous.”

Dr. Jennifer Anyanti, Chief Strategic Technical Officer at the Society for Family Health, SFH, called on all Nigerians to take the message of family planning very seriously and embrace the use of contraceptives to help save the lives of the Nigerian women and children.

She said a situation where only 10 per cent of Nigeria’s population is in tune with the use family planning is unacceptable.

Brain stores information

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our brain’s long-term memory, which develops until the age of 40, can hold as many as one quadrillion (one million billion) separate bits of information in a lifetime.

Eye for details If the human eye are a digital camera, it would have 576 megapixels. An eye can distinguish about 10 million different colours.

Sunburn damages blood vessels Extensively severe sunburn damages the blood vessels extensively but how extensively?

Studies have shown that it can take four to fifteen months for them to return to their normal condition.

Consider that the next time you are feeling too lazy to apply sunscreen before heading outside.

Miles to go If uncoiled, the DNA in all the cells from the human body would stretch up to 10 billion miles.

That is the distance from earth to Pluto and back or 6,000 trips from earth to the moon.

Human body contains gold There is 0.2 milligrams of gold in your body, most of which is in your blood. The human body contains gold, but it is not enough to strike it rich. The body contains approximately 0.2 milligrams of gold that is most diffused with the blood. However, you would need to bleed 40,000 people dry just to collect enough blood to make an 8-gram souvenir.

Tasty treats Your mouth contains around 10,000 taste buds, most of which are located on and around the tiny bumps on your tongue.

However, the sense of smell is necessary for taste, too.

Colour of bones Did you know the colour of the human bones actually range from beige to light brown? The bones you see in museums are white in colour because they have been boiled and cleaned.

Long arteries If your arteries, veins and capillaries were laid out end to end, they would measure 62,137 miles (100,000 kilometers). That is nearly enough to stretch two and a half times around the planet!

THURSday, OCTOBER 27, 2016 NEW TELEGRAPH

Health\INTERVIEW

33

‘We must demystify mental illness’ Dr. Babatunde Suleiman is a Consultant Psychiatrist and Researcher at the Ladoke Akintola University Teaching Hospital, Ogbomoso in Oyo State. In this interview with APPOLONIA ADEYEMI, he discusses the role of families and communities in reducing suicides and strategies to reduce stigma around mental illness, among others There is high incidence of suicide in the country. Could there be medical explanation for this trend?

Suicide rate in Nigeria is just the same like in most other countries of the world, though there is no exact prevalence rate.

What about in Nigeria?

Though, there are some small researches on this in the country but the incidence of suicide in this country is likely to be similar with what is obtained from the rest of the world.

What is the general pattern of suicide globally?

The pattern is that the male sex kills themselves more than the female. It’s the same general pattern in the world, but the fact is that women attempt suicide more than men. Men actually commit the act more than women.

So why do men take their lives more? Is there any reason for that?

We don’t really know but they use more lethal methods.

Men are likely to use the gun because they have access to it.

Similarly, men usually hang themselves. They use more dangerous method by virtue of their gender.

On their part, women like to take overdose of drugs and as they are taking it there is chance to intervene and probably save them.

What are the risk factors?

Everywhere now in the world there is an increasing trend of suicide among young people between age 15 to 24 years.

However, some of the risk factors of suicide are old age, mostly people who are above 45 years, people who are divorced, separated and those that are widows/widowers.

Others are people who have psychiatric conditions and are likely to have suffered depression.

Alcohol consumption and the abuse of substancs are other risk factors.

In addition people who have terminal illness, or who have been suffering from chronic

S

cientists have affirmed that growing up on a farm is linked to a lower risk of developing allergies as an adult.

According to findings of a study published, online in the ‘BMJ Journal Thorax’, growing up on a farm is similarly linked to stronger lungs in women, than growing up in either a rural or urban area.

The newsmaxHealth reports that the findings were based on an analysis of the

medical conditions such as cancers, HIV, among others are also likely to commit suicide.

Furthermore, some people who experience breakup in relationships are likely to take their lives. We lost a patient some weeks ago because the relationship she was involved in for seven years broke up.

The person in that union with her suddenly said he could no longer continue in the relationship. She was 36 years old; she had been dating the man for seven years. The lady consumed insecticide and killed herself.

We were unable to revive her.

Sometimes when society itself breaks down such that it cannot control social norms, resulting in upheavals and uncertainties, there tend to be more suicide.

Also, sometimes when some people feel too attached to a group such as the Boko Haram, or society, they are ready to lay down their lives for that group.

What can we do to reduce suicide?

There should be different levels of prevention. Anybody who is suspected of having a psychiatric condition including depression or abusing substance should be brought in for psychiatric assessment and management and the family of affected persons should be educated to support them.

For instance, three weeks before the lady whose case was mentioned earlier in this interview committed suicide, she was not eating; she cried throughout, telling people around that she was fed up with life. If she had been brought in for medical assessment, she may have been saved.

Suleiman

substances.

What role should families play to reduce or discourage suicide?

There are some individuals who have increased risk. If family members are aware of anybody who has mental condition or somebody who has been diagnosed with medical illness, cancer, HIV and other ailments, they need to support them and make sure these persons are not lonely all the time.

Psychiatric illness is not different from malaria

What are those signs that people should watch out for in those intending to commit suicide?

Anybody who is depressed and is above 45 years. People who are socially isolated. There should be special programmes in churches and mosques for the widows/widowers, elderly people that are lonely, to engage them. There should also be treatment for people who abuse

How do we address stigma especially people with mental illness refusing to take treatment in psychiatric health facilities?

It’s a big challenge. Its not only psychiatric hospitals that are stigmatised. Even psychiatric patients, too suffer stigma also.

We have to combat the stigma. There are different types of stigma really – the one the society imposes and the one the fellow suffering mental illness imposes on himself - self-stigma.

Even we psychiatrists are also stigmatised among doctors.

The first thing is to help reduce the stigma on mental illness.

Psychiatric illness is not different from malaria; we now have evidence to some extent to show that there is something

Farm life cuts allergy risk medical records of people in 14 countries — suggesting that common biological factors, rather than social or cultural ones, may have a role to play.

Experts believe the likely culprit is something known as the “hygiene hypothesis” — a theory that suggests early childhood exposure to a wide variety of potential allergens and microbes may offer some

protective effect against allergies or somehow strengthen the immune system.

Farm kids were also less likely to have had a family history of allergies than the others, and were more likely to have had pets, older siblings, and to have shared a bedroom in their early childhood.

“The consistency of the findings across multi-country

settings suggests that farming effects may be due to biological mechanisms rather than socio-cultural effects that would differ between countries,” the researchers concluded.

Past studies have suggested the sharp rise of asthma and allergies over the past few decades in urban and affluent areas may be partly explained by the hypothesis.

going wrong with the brain, causing mental challenge. It’s not the fault of psychiatric patients but they can be rehabilitated and integrated into the society.

There is some form of treatment that will do well on them.

That is education. We have to educate the people about programmes on mental illness.

People suffering mental illness are no longer dangerous than the ordinary people. For instance, the average armed robber is a normal person.

There was a robbery in Oshogbo not too long ago in which one pregnant woman was beaten up and matcheted in the leg.

The armed robbers never knew she was pregnant but when they realized she was pregnant they apologised to her, saying: “please forgive us; we did not know you are pregnant. We wouldn’t have rough-handled you”, showing they were not crazy. So, the mentally ill person is not more dangerous than an average person. In fact, the average person is more dangerous because he is the one that is likely to cause you problem.

We have to de-mystify mental illness. Psychiatric patients are not dangerous. They can do well.

If prominent people, who had suffered mental illness before and bounced back after receiving treatment, could demonstrate that prominent people in the society do break down from time to time, it could send the message that mental illness is like any other illness.

Another thing is proximity.

Psychiatric health facilities like the Federal Neuro-Psychiatric Hospitals in Yaba, Lagos and Aro, in Abeokuta and others should be integrated into normal primary health care, PHC, centres.

34

Health\News

THURSday, OCTOBER 27, 2016 NEW TELEGRAPH

Pharmacists seek right leadership for NAFDAC , NIPRD

Yakassai

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s part of efforts to strengthen drug regulatory and research agencies under the pharmaceutical industry, pharmacists under the aegis of the Pharmaceutical Society of Nigeria, PSN, have urged the Federal Government to appoint substantive Director General/Chief Executive Officer, CEO, for the National Agency Food and Drug Administration and Control (NAFDAC) and the National Institute for Pharmaceutical Research and Development, NIPRD to ensure safety mandate in the quality of medicines and foods offered for sale in Nigeria.

President of the PSN, Dr. Ahmed Yakassai who made the call in Lagos, also said the full Governing Council of NAFDAC, led by a sea-

soned Chairman will play complementary roles to consolidate some modest gains in the overall value chain the NAFDAC output epitomizes.

He made the call at a press conference to announce the 89th Annual National Conference of the PSN, to be held in Minna, Niger State from November 7 to 12.

Although, the PSN recognises that it is the prerogative of the Federal Government to carry out appointments at Pharmacists Council of Nigeria (PCN), NAFDAC, and NIPRD, all of which are major agencies in the Pharmaceutical Sector, Yakassai said: “Our concern is predicated in public interest especially in the value such appointments can bring to bear on

public health endeavours.”

Giving a hint on the caliber of personalities the PSN expects the Federal Government to appoint to lead the Agencies, he said, “such must be premised or built around persons who are conversant with the terrain to be regulated. “I therefore appeal to the Federal Government to give us lawful and befitting appointments in the pharmaceutical sector in the days and months ahead.”

To avoid an unpalatable discourse, president of the PSN said PSN has since recommended its representatives to the Minister for Health as provided for in Section 3 (1) F of the PCN Act. “We hasten to remind the Federal Government that Section 1 of the PCN Act provides for perpetual succession which ordinarily should exclude the PCN from recurrent dissolution alongside other boards of parastatals.

“Our first priority is to ensure lawful appointments on all pharmaceutical platforms because we certainly do not envisage or pray for the disruption in equilibrium we experienced at PCN when representatives of PSN were compromised due to a distasteful manipulation by an interested party in 2009.”

World Bank, others launch indicator surveys in health sector

Yekeen Nurudeen Abuja

A

s part of efforts to enhance service delivery in critical social sectors, the World Bank, Nigerian Institute of Social and Economic Research (NISER) and African Economic Research Consortium, AERC, have launched a nationwide service delivery indicators to cover the nation’s health and education sectors.

This was disclosed in Abuja by the Executive Director of AERC, Professor Lemma Senbet while speaking at the sideline of a workshop for stakeholders in the two critical social service sectors.

The nationwide survey followed a pilot scheme

conducted three years ago in the country which three and 12 states were surveyed for education and health sectors respectively and those conducted in other countries like Kenya, Uganda and Tanzania among others.

According to him, the pilot scheme has revealed that the problem of service provision in Nigeria education and health sectors was not availability of personnel but the low productivity of available workers.

Parts of the discoveries in the pilot scheme for the health sectors were in accurate diagnosis, knowledge gap, and lack

RFHA targets 150,000 with free health care

O

ver 150,000 persons from across 21 states of the federation have benefited from this year’s edition of the annual Family health outreach organised by the Rotarians for Family Health and Aids Prevention (RFHA) in partnership with Coca-Cola Nigeria.

The Rotary Family Health outreach, an initiative to offer free health care to community mem-

bers, is in line with Rotary’s commitment to promote family health and create awareness around diseases and Coca-Cola’s commitment to promote sustainable development of communities.

According Olugbemiga Olowu, Director, West Africa Operations, RFHA, the uniqueness of the Rotary Family Health outreach is the shared commitment to

Why plantain is good for you

P

lantain, ‘musa paradaisica’, is a household plant. Both adults and children alike know it. Even though people are familiar with the plantain plant, and enjoy its fruit, they do not pay attention to its other uses.

When plantain is roasted, it is called ‘boole’ in Yoruba. When fried it is called ‘dodo’. The plantain plant, which is rich in Inulin, alkaloids and noradrenaline, is a beauty to behold.

The leaves are evergreen. The trunk is soft and contains a lot of fluid. Yorubas call it ‘Ogede nla’ or ‘Ogede agbagba’, Binis call it ‘Ogheda’ or ‘Oghede’, and Hausas call it ‘Ayaba’. In Igbo there are varieties of names for plantain: ‘Ogadejioke’, ‘ojioko’, ‘abereka.’

The green leaf of plantain is very useful for treating diabetes.

Simply boil the fresh leaves in water. Drink a glassful twice daily.

However, pregnant women should not take this preparation, as it is capable of stimulating the uterus, thus promoting miscarriage. The whitish fluid that shows when plantain leaf is cut is very effective for treating wounds, especially fresh wounds. The juice stops the flow of blood very quickly.

Perhaps the most medicinal part of plantain is the sap. The sap is present in every part of the plant. By piercing any part of the plant, especially the trunk, one can collect the sap.

How to collect plantain sap Cut the trunk of a plantain into pieces. Pound the pieces in a mortar. Then, squeeze out the juice.

Nature Power

Anselm Adodo

naturepower@paxherbals.net twitter: @anselmadodo

What you have is a potent herbal juice that can be used for varieties of illnesses. Mix one bottle of the juice with half bottle of honey.

Henceforth, this preparation will be referred to as Plantain solution [PS]. This knowledge is one of the hidden treasures, which many of our knowledgeable fathers and mothers keep close to their chests.

The simplest things in nature are often the most important. How often do you see a banana tree and pass by without even taking a second look? So often, we are so busy pursuing one material thing or the other, forgetting that happiness consists in opening ourselves to the hidden wisdom in nature.

Human beings are busy pursuing happiness and beauty. Yet, right there in front of them is paradise. Wake up from your slumber oh man and woman and stop taking things for granted. Let the beauty of nature permeate your being and reflect through you!

The green leaf of plantain is very useful for treating diabetes

The juice of plantain can be used for the following illnesses: 1. NERVOUSNESS: PS offers quick relief for nervousness and even hysteria. It calms the system and promotes sleep. Drink two dessertspoons of PS twice daily.

2. EPILEPSY: PS offers great hope for those suffering from epilepsy. It effectively hinders electric discharge in the brain, thus pre-

Plantains

of adherence to basic diagnosis tips, absenteeism among others.

He argued that spending on health and education by the Federal Government may not necessarily result in improved services if concerted efforts were not made to address the various factors responsible for low productivity in the two sectors.

“I think one thing we need to understand for health and education outcomes is that spending money is not enough .

We need a combination of expenditure and for providers to provide enough efforts.

venting epileptic fits. The dosage is two dessertspoons of PS thrice daily.

3. DYSENTERY: Drinking two dessertspoons of PS twice daily will bring relief to those suffering from dysentery as well as diarrhea, constipation and indigestion.

4. ULCER: For intestinal ulcer, drink two tablespoons of PS twice daily. For chronic external ulcers, use cotton wool to apply PS to the wound twice daily.

5. SKIN INFECTIONS: Apply PS to the skin in cases of burns, skin rashes and insect bites.

TO BE CONTINUED NEXT WEEK

community wellbeing as well as to collaboration by partners.

He said, “The programme is Rotary-led but leverages the power of partnership with CocaCola Nigeria, a company that has consistently been extremely supportive of our mission, which is to improve the lives of children and families who lack access to preventive health care and education.”

Sleep impacts male fertility

S

leeping too little or too much can affect a man’s ability to impregnate his partner.

According to findings of a new study presented last Wednesday at the American Society for Reproductive Medicine’s annual meeting, in Salt Lake City in the United States, U.S., the “sweet spot” appears to be seven to eight hours of sleep a night, said study author Lauren Wise, a professor of epidemiology at Boston University School of Public Health.

Among the 790 couples the researchers followed, “we found both short and long sleep duration -- less than six hours or nine or more per night -- were associated with a reduced probability of pregnancy,” Wise said.

Using eight hours of sleep as the reference point, men who slept less than six or more than nine hours a night “had a 42 per cent reduced probability of conception in any given month,” she added.

The main explanation is most likely hormonal, Wise said. Fertility experts know that testosterone is crucial for reproduction and the majority of daily testosterone release in men occurs during sleep, she explained.

Total sleep time, in turn, has been positively linked with testosterone levels in several studies, she added.

35

THURSday, OCTOBER 27, 2016 NEW TELEGRAPH

MOM’S ALERT

Mom&Parenting At a time when the society is displaying injustice to womanhood women in Lagos are brainstorming for a better deal. Muritala Ayinla report

Mom&Parenting

Oluwatosin Omoniyi City Editor

© Daily Telegraph Publishing Company Limited

Parenting When a child dies and the school is accused

36 36

COWLSO: Touching lives, building decent families

L

ast Monday, the annual three day National Women’s Conference organised by the Committee of Wives of Lagos State Officials, COWLSO, was held where the sanctity of womanhood and indeed family was brought to fore.

Women in attendance were particularly worried by the spate of violence against women, girl- child and other sundry issues affecting women in the society, saying that if indeed family is the smallest unit of the society, then women who are the bedrock of the family must not be allowed to be relegated as objects of sexual and other forms of abuse.

These, among other issues, formed the subjects of discussion at the 3-Day conference held at the Eko Hotel and Suites, where hundreds of distinguished women gathered to deliberate, explain, share experience and chart way out of the societal challenges confronting women.

Among the speakers were the wife of the President, Mrs Aisha Buhari, Senator Remi Tinubu, wife of the Lagos State Governor,Mrs Bolanle Ambode, her Oyo, Osun, Cross Rivers and Imo States counterparts, Mrs Florence Ajimobi, Hajia Sherifat Aregbesola, Mrs Ayade and Mrs.Nkechi Okorocha. They were joined by Governors of Lagos, Oyo and Osun States, Mr. Akinwunmi Ambode, Senator Abiola Ajimobi and Ogbeni Rauf Aregbesola and Senator Adeola Solomon and other dignitaries.

Setting the ball rolling, Mrs. Ambode commended participants for coming out in large number to partake in the 16th edition of the conference.

Super mom makeover

L-R: Senator Olamilekan Adeola; Governor Akinwunmi Ambode; his wife and Chairman, Committee of Wives of Lagos State Officials (COWLSO), Bolanle; Oyo State Governor, Senator Abiola Ajimobi; Senator Oluremi Tinubu; Osun State Governor, Ogbeni Rauf Aregbesola and Speaker, Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, at the 16th National Women Conference in Lagos on Monday

She recalled that COWLSO was formed many years back

by Matriarch Obafunmilayo Mobolaji-Johnson. She added that the association has grown into phenomenon which everyone wants to be associated with due to his pro-people programmes.

She said that the Committee has since become a channel through which wives of government officials contribute their quota to the development of the state and improvement of the welfare of Lagosians. Stressing that the founding objectives was to assist the government in adding value to lives of Lagosians as much as possible, Mrs. Ambode said that COWLSO, under her leadership, has successfully embarked and successfully completed many people oriented programmes across the state. She said:” In the last one year since I took over as chairman, COWLSO has added to its long list of achievements.

First was the upgrading of the Ear, Nose and Throat Department of the General Hospital, Odan, Lagos. In the project, we procured and installed the latest audiology equipment, to detect, hearing impairment not only in adult but in children including new-borns.

The second phase of the project was the distribution of hearing aids devices to persons with hearing defects, most of whom are children.

She explained that COWLSO under her leadership also embarked sponsorship of goiter surgeries for vulnerable women who were suffering from deformity in the neck.

“We had observed with deep concern, the large number of diagnosis women with goitre, majority of which requires surgery. But owing to the high cost of surgical procedure,

When family units are bound together in love and children are raised in the fear of God and high socio-moral values, it begets a good peaceful society

many of them could not undergo the required treatments, COWLSO successfully sponsored 30 women for the procedure,” Mrs Ambode said.

Bolanle Ambode said the theme of the Conference, ‘Strong Family, Strong Nation’, was carefully chosen in recognition of the fact that the strength of a nation is linked to the strength of its family units. The Governor’s wife vowed to continue to compliment the state and federal governments through pro-people initiatives that will not only empower women and children but also add value to the lives of Nigerians and the governance at both federal and the state levels.

Mrs. Ambode, who is also the Chairman of COWLSO, traced most of the social challenges currently confronting the nation, including drug addiction, cultism, teenage pregnancy, kidnapping, child abuse, domestic violence, armed robbery and others have their foundation in dysfunctional family units. “When family units are bound together in love and children are raised in the fear of God and high socio-moral values, it begets a good and peaceful society and country, where social vices are reduced to the barest minimum. To build a strong and virile country therefore, we must go back and build strong family units,” she said.

Declaring the conference open, wife of the President, Hajiya Aishat Buhari, said that COWLSO has emerged as of the many things that have put Lagos in the unique class of excellence.

“What strikes me the most about the committee is that, it is an intellectual and philanthropic association, established to complement the efforts of the

Lagos State Government to improve the welfare and well-being of the good people of this state,” she said. The President’s wife who was represented by the wife of the Governor of Imo State, Mrs. Nkechi Okorocha, said the importance of strong family values must continue to be emphasised, saying that the absence of it gives rise to the challenges of poverty, crime and declining school performance.

Speaking on theme of the conference, Governor Ambode said that the importance of the family unit to the overall development of any nation is not in doubt, adding that family is the foundation and smallest unit of any nation.

According to him, “Governments must continually strive to build a society where everybody, regardless of their race, gender or creed, has equal opportunities to fulfil their potential. Our women, youth, the aged and people living with disabilities must be given special attention in our quest for inclusion.

Government must strive to eliminate poverty and illiteracy by creating employment opportunities and providing universal basic education.” Also speaking, Governor Ajimobi said that to have decent society women must be given recognition and cared for always, describing his love for his wife as the secret of his successes.

“People say my wife controls me.

She controls me, I left a good job for a better job, she controls me I was promoted to the Manging Director of a company, then I became a senator and Governor, she controls me I became the first Governor to be elected for the second term in Oyo State. Let her continue to control me.”

On his part, Ogbeni Aregbesola said that since women are the basis for the family, there can’t be decent society without decent family, which is the smallest unit of the society.

He added that for the nation to get it right, women, which he said, are the bedrock of family and the society, must be given recognition.

Governor Aregbesola said that if the family must be strengthened, the women who are saddled with the responsibility of building the home front must be encouraged and celebrated.

Highlight of the event was the investiture of Senator Oluremi Tinubu as the Grand Matron of COWLSO and presentation of the Inspirational Woman of the Year Award to the Chief Executive Officer of House of Tara International, Mrs. Tara FelaDurotoye; former deputy Governor of Lagos State, Princess Adejoke Orelope-Adefulire; Sir Kessington Adebunkunola Adebutu; Chief Kemi Nelson among others.

36 MOM&PARENTING

THURSday, OCTOBER 27, 2016 NEW TELEGRAPH

i-Protect

Childhood Protection & preservation culture

with

Taiwo Akinlami principal@taiwoakinlami.com

The mere fact that a child dies in a school or under the care of a school does not make the school culpable

When a child dies and the school is accused

T

his is a strange advocacy for me. I am an advocate of prevention through enlightenment. That is why it is our core belief in matters of Child Protection is that Enlightenment is Superior to Enforcement™.

This piece is precipitated by the sad news that was posted one of the professional platforms I belong to. It reads, ‘a pupil died in one of the schools around us here. He was in school on Thursday last week as the story has it. But he was taken to hospital on Friday because he complained of pain on the chest. He was X-rayed and it was revealed he has lumps of blood around his chest area probably as a result of a fall. He passed on last Sunday but the story took a bitter twist when his family started making a case with the school that the boy fell in school but that the school management concealed it.’

I do this piece today, using this fresh but sad case as an opportunity for a clarion call to action.

The mere fact that a child dies in a school or under the care of a school does not make the school culpable except a clear case of negligence is established. The question however is, what is the benchmark for culpability or otherwise. I think the benchmark for culpability is not good intentions alone. Interestingly, sincerity is not the leading tool here.

What then is the benchmark? The global benchmark of establishing culpability or otherwise is whether there is a Child Protection System in place, codified into a policy, which carefully and professionally identifies the roles and responsibilities of every handler, the child comes across in the school and equip through consistent training, briefing and debriefing the handlers to play the assigned roles. Handler here will include everyone within the school system, who relate with the children directly or indirectly. The foregoing will include academic, non-academic, support staff, service providers and visitors.

The first question globally is always what professional measures are put in place for the protection of children at all times? The Child Protection System, codified in to a Child Protection Policy is a major game changer for the school in terms of the quality of protection available to the children and her defense against negligence.

Therefore, in cases like arise, the quality of protection and the culpability or otherwise of the school is determined by the existing Child Protection System and adherence to same.

Let me say finally that I have studied extensively the circumstances under which children have died in schools within our beloved country and please check it out; the schools are more often than not culpable. Their culpability is traceable to two fundamental issues: 1. Lack of Child Protection System codified into a policy; 2. Failure to adhere to the tenets of the Child Protection System due to internal compromises and lack of expertise to prevent or respond.

It is no more fashionable or professional to hang the protection of the precious children under our care the skeletal banner of hope.

Professionalism and best practice demand that we take practical and effective steps toward the protection of our precious children.

The question, which all of us as teachers and school leaders must ask and answer now is very simple, does your school have a functional Child Protection System, codified into a policy?

If you do, I rejoice with you that you have taken professional and globally compliant measures to ensure and assure the protection of the precious children under your care.

If you do not have a Child Protection System, codified into a Child Protection policy, I make bold to say, having spent over 19(nineteen) years and invested thousands of dollars, researching this subject matter and working with leading local and international organisations within and outside the educational sector, you are countless miles behind schedule in the protection of the precious children within your care. Therefore you cannot categorically say, with the strength of best practice and professionalism that the children under your care are safe and sadly, you are utterly defenseless, if cases of abuse occur within your institution of learning.

Permit me to rest my case here and advice that both parents and school leadership, in the case under review should call for a coroner enquiry into the cause and circumstances of death of the child as the immediate way forward, working with the Lagos State Government.

Extolling family values

Andrew Okungbowa

T

he Nigeria Christian Pilgrim Commission under the able leadership of its Executive Secretary, Rev. Uja Tor Uja recently organized a maiden family night and dinner for NCPC Board, Staff, Spouses and Children in Abuja to celebrate families and inculcate values among Staff of the Commission.

The event which took place at the hall of FCT Pilgrims Welfare Board, Wuse Zone 5 Abuja was awesome and memorable. Families of Staff with their Children all converged to relax and appreciate themselves and the leadership.

At the event, the Executive Secretary, Rev. Uja Tor Uja called on all Christian families to build a good Christian character from their homes which would further transcend to the nation at large. He said that a culture of oneness can only be built when families come to-

gether even as an organization.

He further stressed that his tenure as the pilgrim boss would ensure that a framework which would develop Christian Character and improve on national orientation for all Nigerian Pilgrims would be enthroned.

According to the Executive Secretary: “we intend to build a family in the NCPC where every staff can have a sense of responsibility not considering who you are or what you do in the Commission.” He added “we also plan that from next year we are going to produce pilgrims’ bibles which will be circulated to all followers of pilgrimage as a means to build a culture of Jesus Christ.” Rev. Uja further affirmed: “that from time to time we can have family night dinners to pull our people together so that we can develop our pilgrimage programme in Nigeria.”

A talk on family as life was delivered by Mrs Berry Uja who admonished women to respect,

love and honor their husbands as they are the managers of the family. She noted that when different individuals with different ideas and orientation come together, there is bound to be strive but as Christians, we should focus on God and allow Him to drive the boats of our families because a person who comes out of a peaceful family would be competent at his or her duty.

According to Mrs Uja, “it is not in fighting that you will find a solution, but in a quiet place. The place of the woman is to trust God for her husband to make the right decision and to provide the conducive environment for this to be achieved which the man has to love his wife as Christ loved the Church and gave Himself up for it”, she said. The Executive Secretary also used the opportunity of the dinner to reward some department and units as well as staff who have distinguished themselves in their various assignments.

MOM’S ALERT with

Grace Essen

grace.essen@gmail.com

Super mom makeover

T

oday’s woman knows a a brief workout with fitness enlot is expected of her, thusiast, Mrs. Ebi Bassey during and to be at her best at the fitness session. Mrs. Esther all times and to meet up Data Vandy, Deputy Director with expectations at all fronts, Rivers State Primary Healthcare she is often left overstretched, and Management Board during overwhelmed and often burnt the health session covered topout. This is exactly what the Su- ics on maternal healthcare. She per Mom Makeover Workshop showed the women the latest 3.0 which took place Saturday family planning methods and 22nd October in the Garden City - how to make the right choices.

Port Harcourt, sought to address. She emphasized the need for The aim of the workshop is to women to space their children encourage women to maximize if they want to look good and their God given potentials, make achieve all they want to achieve their dreams come through and in life. Mrs. Data Vandy was improve their general outlook on hand to answer questions in life regardand deal with concerns women have less of the chalregarding contralenges of being ceptives and famwives, mothily planning. Other ers, career and business womsessions at the Every woman workshop were, en. The pardeserves to look, personal styling, ticipants at the stress manageworkshop were feel and be her mostly young ment, how to make best, but she has mothers from business career and motherhood work, different works to give herself the and the Inner game of life - career permission to be women, small of being our best. business ownThe peak of the all she can ever be workshop was the ers and stay-atgiveaway of lovely home moms as pairs of earrings to well. the first 10 moms to arrive at the The organizer and founder of Mum To Mum Support Initiative, venue by Jonik Jewelry, and the Grace Essen who is very pas- raffle draw where a mom, won sionate about women achieving a prize of a beautiful piece of achieve their fullest potentials Ankara courtesy Be Beautiful while speaking at the event en- Fabrics and Makeover.

One of the participants and couraged the women to think and look beyond their current the winner of the raffle draw, state and not let motherhood be Mrs. Oroma Osuigbo at the end a limitation. She asserted that of the event could not hide her every woman deserves to look, joy. She said she didn’t have a life feel and be her best but she has outside her family and her job, to give herself the permission and she had long stopped paying to be all she can ever be and attention to her appearance and that requires stepping out of self care because she felt there her comfort zone. She explained was no time for that but the that once most women in Africa workshop made her realize she become mothers tend to neglect can pay a little more attention their looks, their self care, well to her wellbeing and still be the being, and their personal goals best mom, wife and excel at her and aspirations, but with this job. She was especially happy she workshop I want moms to know was going home with a beautiful they can have it all it only takes a prize which she never imagined.

Other participants at the little change in mindset, attitude, event also said they were very look and lifestyle.

The CEO of Perfect Image happy they attended the event Unisex Salon, Mrs. Chinwe Ez- and said it was a eye opener for eanya, during the makeup ses- them. They expressed gratitude sion demonstrated how women to the organizers for such a focan achieve a simple daily look rum which gave them the opwithout much stress, they were portunity to learn, share and be inspired by fellow moms and also taught the importance of staying fit and making healthier they look forward to another food choices and they also had edition.

A group of participants at the event

THURSDAY, OCTOBER 27, 2016 NEW TELEGRAPH

VOLATILITY Local currency exchanged at N460/$

BUSINESS | MONEY LINE

Naira weakens on parallel market as dollar demand rises to Bureaux De Change (BDC) operators to boost liquidity and narrow the gulf with the official market.

Traders said although the directive improved dollar supply to BDCs, resulting in the appreciation of the naira from N490/$ to N456 to the dollar, an increase in Christmas orders in recent days has made dollars available in the system inadequate compared with demand.

Travelex sells around $15,000 to 1,000 retail currency outlets weekly, but according to a BDC operator, Mr. Abel Ahonsi, this amount is grossly inadequate for what is required to cover demand from individuals and small businesses.

He said: “What we are currently getting from Travelex and Firstbank is not sufficient especially now that a lot of people are placing Christmas orders.”

He said that dollar shortage in that segment of the market was partic-

Tony Chukwunyem

A

fter trading flat against the dollar on the parallel market for more than a week, the naira yesterday fell to N460/$, as demand for the greenback soared occasioned by an increase in Christmas orders.

On the official market, the naira ended at 305.50 per dollar, a level it had closed at for more than two months, supported

by Central Bank of Nigeria (CBN) interventions.

The local currency closed at N306.78 to the dollar on the FMDQ OTC platform.

The naira had been relatively stable at N455/$ on the parallel market since October 17 after the CBN asked global foreign exchange dealer, Travelex and FirstBank of Nigeria Ltd to sell dollars received via remittances directly

ularly serious in the last two days, adding that the situation was expected to improve from today when weekly dollar sales are made to BDCs. “I expect the naira to strengthen to N456 to the dollar from tomorrow (today) when we (BDCs) buy dollars from Travelex,” he stated.

In a report released last Monday, analysts at Meristem Research stated that remittances will not be able to sustain dollar supply to BDCs this quarter.

The experts stated that monthly remittances averaged $23million in 2016 and $13.9million in July, adding: “This does not appear adequate to match the estimated BDC demand (proposed supply of USD50,000 per week to each BDC) and the appreciation witnessed in this market segment might suggest some cushion being provided by the monetary authorities.”

According to the analysts, for the dollar supply to BDCs be sustained

during this quarter, some reserves would have to be released.

“This is very key as the alignment of the BDC rate with the interbank rate to ensure adequate positioning for accessing the concessionary funding if the government decides to, appears to be getting attention,” the analysts said.

The naira’s decline on the parallel market comes amid the commencement of forex sales by Travelex and First Bank to BDCs in Abuja, Kano, Port Harcourt.

President, Association of Bureau De Change Operators of Nigeria (ABCON), Aminu Gwadabe, said that the CBN brokered a meeting between Travelex and ABCON, which led to the commencement of the sale of Forex in Abuja, Kano and by extension, Port Harcourt.

He said that the BDCS in Abuja got $20,000 each from the sale of Forex by First Bank last Tuesday, adding that Abuja envi-

Jaiz Bank gets owners’ approval to list on NSE Isa Abdulwahab

yesterday, Chairman of the Bank, Alhaji (Dr.) Umaru Abdul Mutallab, hareholders of Jaiz Bank Plc, said with the shareholders’ endorsethe first fully-fledged non- ment, the Bank’s authoried Share interest Bank in the country, Capital has been sub-divided from yesterday unanimously voted for 15, 000, 000, 000 Ordinary Shares of its shares to be listed and traded N1.00 each to N30, 000, 000, 000 Ordion the floor of the Nigerian Stock nary Shares of 50kobo each.

Exchange (NSE).

Also speaking at the event, the This development will now open Managing Director/CEO, Hassan windows of opportunities for nu- Usman, said once listed on NSE, merous individuals who desire to existing shareholders can trade own shares in Jaiz Bank Plc. their shares while those new inSpeaking during the meeting vestors can also invest by buying

S

the shares.

He said: “We want the general public to benefit from the bounties of profit opportunities available so that we can all grow together as one big Jaiz family. The potential is enormous.

“As you may be aware, few months ago the Bank’s Rights Issue of 2.9 billion ordinary shares was successfully subscribed. We call on everyone to take advantage of this opportunity to own shares in Jaiz Bank Plc.”

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

N19,142,526.05m

Mar, 2015

N18,579,219.49m 17.9 14 10.77 US$51.37 US$23,939,115,824

Mar, 2015 September, 2016 26/07/2016 Mar 2015 26/10/2016 25/10/2016

Source:CBN

Description 15.10 27-APR-2017 16.00 29-JUN-2019 15.54 13-FEB-2020 16.39 27-JAN-2022 14.20 14-MAR-2024 12.50 22-JAN-2026 10.00 23-JUL-2030 12.1493 18-JUL-2034 Tenor (Days) Call 30 90 180

37

FGN Bonds

TTM

1.07 3.24 3.87 5.82 7.95 9.81 14.31 18.29

Price 104.65 114.59 111.96 120.58 109.60 100.54 83.82 97.56

NIBOR

Rate (%) 4.4583 9.1071 11.0102 12.3790

Bid Yield 10.38 10.55 11.60 11.44 12.27 12.40 12.44 12.49

Change (%) -2.50 ▼ -0.74 ▼ -0.65 ▼ -0.68 ▼

Change (%) -0.02 ▼ -0.01 ▼ 0.00 ↔ 0.00 ↔ -0.07 ▼ -0.08 ▼ -0.03 ▼ 0.02 ▲

Price 104.80 114.89 112.26 120.88 109.90 100.84 84.12 97.86

Tenor (Months) 1 2 3 6 9 12

Treasury Bills Maturity Date Discount Bid Yield Change (%) Discount Offer Yield Change (%) 30-Jun-16 7.92 7.67 7.82 -0.51 ▼ 8.08 -0.51 ▼ 6-Oct-16 8.59 8.34 8.71 -0.31 ▼ 8.99 -0.31 ▼ 16-Mar-17 9.36 10.28 -0.07 ▼ 9.11 9.98 -0.07 ▼

Offer Yield 10.24 10.45 11.51 11.38 12.22 12.34 12.39 12.44

NITTY

Rate (%) 6.9949 7.2368 8.0819 9.2061 9.5872 10.5042

Change (%) -0.02 ▼ -0.01 ▼ 0.00 ↔ 0.00 ↔ -0.07 ▼ -0.08 ▼ -0.03 ▼ 0.02 ▲ Change (%) 1.12 ▲ -0.27 ▼ -0.17 ▼ -0.11 ▼ 0.03 ▲ 0.42 ▲

Money Market Open-Buy-Back (OBB) Overnight (O/N)

Rate (%) 3.83 4.33

Change (%) -1.75 ▼ -2.08 ▼

rons would also benefit from the sale.

The ABCON chief noted that BDCS in Abuja and its environs were expected to begin documentation and biometric registration with Travelex to today.

He said: “The naira is expected to appreciate

further in Abuja and its environs as the CBN has appointed First Bank and Travelex to sell Forex in that region.

“ABCON is grateful to the CBN, Travelex and First Bank in ensuring that the naira is rescued from the hands of its enemies.”

Adeosun: FG committed to infrastructure devt

T

he Minister of Finance, Mrs. Kemi Adeosun, yesterday told the visiting Director, African Department of the International Monetary Fund (IMF), Mr. Abebe Aemro Selassie, that the Federal Government was leaving no stone unturned in its bid to make infrastructure development a priority.

Taking the visiting IMF chief through some of the initiatives of the current administration, the Minister in a statement, said the President Muhammadu Buhari administration was doing everything to make Nigeria productive in every aspect.

This, she said, would be achieved by shifting emphasis to the development of infrastructure, which

had been neglected by previous administrations.

She said with a population of about 180 million people, Nigeria has no choice but to be productive, adding that this can only be achieved through infrastructure.

She recalled : “The allocation for capital projects in 2015 budget was just 10 per cent while the recurrent was 90 per cent which had been the case in the past six to seven years.”

Adeosun gave assurance that the Federal Government was working with the private sector. , and justified Nigeria’s deficit budget, saying there is no problem with running a deficit budget as long as it is done with emphasis on capital project financing.

AfDB, South Korea sign $18m grant to boost devt

T

he African Development Bank (AfDB) and the Korean Ministry of Strategy and Finance have signed an Exchange of Letters announcing Korea’s replenishment of a grant of $18 million to the KOAFEC Trust Fund for the year 2017-2018.

The KOAFEC Trust Fund is AfDB’s largest bilateral fund. Under the agreement, Korea will support the Bank’s strategic priority areas, commonly known as the “High Fives”, which seek to address the socioeconomic challenges in Africa. The assistance, will among other things, develop Africa’s value chains, agro-poles and special industrial zones.

The replenishment brings to $ 78 million the total amount provided by the KOAFEC Trust Fund to the African Development Bank. The fund has supported capacity building, technical assistance to African countries, as well as promoted the sharing of Korea’s economic development models with Africa. The Trust Fund has boosted a wide range of projects in transport, energy, water, agriculture and agro-

industry.

Speaking at the ceremony, which took place within KOAFEC conference, AfDB President Akinwumi Adesina lauded Korea for its support and long-standing partnership with the Bank. “Korea is a strong partner for Africa’s development. You are dependable partners. You care, and you deliver,” he noted. The country joined the African Development Bank and African Development Fund in 1982 and 1980, respectively.

Having transformed its economy through policy reforms in industrialization, Korea will strengthen Africa’s ICT capacities through training and skills transfer, and will support regulatory framework development to woo private sector participation so as to enhance manufacturing and industrialization in Africa.

Il-ho Yoo, Korea’s Deputy Prime Minister and Minister of Strategy and Finance, reiterated his country’s support to Africa, citing the important role of the Trust Fund in strengthening the relationship between Korea and Africa.

38

BUSINESS |FINANCIAL MARKET NEWS

THURSDAY, OCTOBER 27, 2016 NEW TELEGRAPH

FMDQ Daily Quotations List

26-Oct-16

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 Issuer

Rating/Agency

Description 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 14.50 15-JUL-2021 ^16.39 27-JAN-2022 ^14.20 14-MAR-2024 ^12.50 22-JAN-2026 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 ^12.40 18-MAR-2036

Price

Issue Date

Coupon (%)

Outstanding Value (₦’bn)

27-Apr-12 27-Jul-07 31-Aug-07 30-May-08 29-Jun-12 23-Oct-09 13-Feb-15 13-Jul-16 27-Jan-12 14-Mar-14 22-Jan-16 28-Nov-08 22-May-09 20-Nov-09 23-Jul-10 18-Jul-14 18-Mar-16

15.10 9.85 9.35 10.70 16.00 7.00 15.54 14.50 16.39 14.20 12.50 15.00 12.49 8.50 10.00 12.15 12.4000

480.13 20.00 100.00 300.00 351.30 233.90 606.43 225.59 605.31 719.99 468.02 75.00 150.00 200.00 591.57 1075.92 352.00

TOTAL OUTSTANDING VALUE

6,555.16

TOTAL MARKET CAPITALISATION

5,891.99

Rating/Agency

Agency Bonds Nil

TOTAL OUTSTANDING VALUE

Description

Issuer

17.25 FMB II 03-APR-2017

FMBN

Maturity Date

TTM (Yrs)

27-Apr-17 27-Jul-17 31-Aug-17 30-May-18 29-Jun-19 23-Oct-19 13-Feb-20 15-Jul-21 27-Jan-22 14-Mar-24 22-Jan-26 28-Nov-28 22-May-29 20-Nov-29 23-Jul-30 18-Jul-34 18-Mar-36

0.50 0.75 0.85 1.59 2.67 2.99 3.30 4.72 5.25 7.38 9.24 12.09 12.57 13.07 13.74 17.72 19.39

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

17.87 19.41 20.00 18.70 14.63 14.89 15.11 14.95 14.89 15.07 15.41 15.32 15.30 15.29 15.27 15.14 15.47

17.54 19.18 19.78 18.57 14.56 14.81 14.99 14.85 14.80 15.00 15.34 15.26 15.24 15.21 15.20 15.08 15.41

98.72 93.53 92.03 89.36 102.88 81.50 101.02 98.46 105.28 96.17 85.83 98.22 84.46 62.05 70.02 81.69 81.24

98.87 93.68 92.18 89.51 103.03 81.65 101.32 98.76 105.58 96.47 86.13 98.52 84.76 62.35 70.32 81.99 81.54

6510.155565

Issue Date

Coupon (%)

03-Apr-12

17.25

Outstanding Value (₦’bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Modelled Price

0.60

03-Apr-17

0.26

2.94

18.92

99.53

19-Apr-17 30-Jun-17 31-Dec-17 30-Sep-18 04-Oct-18 09-Dec-18 12-Dec-18 14-Feb-19 02-Oct-19 22-Nov-19 12-Dec-19 27-Nov-20 31-Dec-20 31-Dec-20 06-Jan-21 09-Dec-21 16-Feb-22 27-Feb-22 30-Mar-22 31-Mar-22 27-May-22

0.48 0.44 1.18 1.22 1.23 1.19 1.20 1.38 1.79 3.07 1.76 4.09 4.18 2.41 2.44 2.99 3.20 3.23 3.34 6.46 3.32

1.00 5.71 2.39 1.00 1.00 3.82 3.56 3.82 2.02 2.01 1.00 1.30 3.76 2.53 1.00 1.52 4.01 1.00 2.52 1.79 3.04

18.70 23.07 22.65 21.11 21.06 24.04 23.76 23.34 19.97 16.92 19.09 16.32 18.77 18.14 16.52 16.41 18.97 15.97 17.54 16.70 18.05

96.15 96.28 91.38 92.81 92.80 90.92 90.65 91.40 93.70 94.34 93.88 91.79 89.33 93.39 97.10 97.97 94.47 101.16 99.86 101.01 97.56

0.60

TOTAL MARKET CAPITALISATION

0.60

Sub-National Bonds A+/Agusto; A+/GCR A-/Agusto A-/Agusto A/Agusto; A+/GCR A-/Agusto; A-/GCR A/Agusto‡ ; A-/GCR† A-/Agusto A-/Agusto; A-/GCR BBB+/Agusto; A-/GCR Aa-/Agusto; AA-/GCR BBB-/Agusto; BBB+/GCR† Aa-/Agusto; AA-/GCR Bbb+/Agusto; BBB+/DataPro A/Agusto‡ A-/GCR A-/Agusto A-/Agusto Bbb-/Agusto Bbb+/Agusto Bbb+/Agusto A-/GCR

LAGOS *BAYELSA EDO *DELTA *NIGER *EKITI *NIGER *ONDO *GOMBE LAGOS *OSUN LAGOS KOGI *EKITI *NASARAWA *BAUCHI *OYO *BENUE *PLATEAU KOGI *CROSS RIVER

19-Apr-10 30-Jun-10 31-Dec-10 30-Sep-11 04-Oct-11 09-Dec-11 12-Dec-13 14-Feb-12 02-Oct-12 22-Nov-12 12-Dec-12 27-Nov-13 31-Dec-13 31-Dec-13 06-Jan-14 09-Dec-14 17-Feb-15 27-Feb-15 30-Mar-15 01-Apr-15 27-May-15

10.00 LAGOS 19-APR-2017 13.75 BAYELSA 30-JUN-2017 14.00 EDO 31-DEC-2017 14.00 DELTA 30-SEP-2018 14.00 NIGER II 4-OCT-2018 14.50 EKITI 09-DEC-2018 14.00 NIGER III 12-DEC-2018 15.50 ONDO 14-FEB-2019 15.50 GOMBE 02-OCT-2019 14.50 LAGOS 22-NOV-2019 14.75 OSUN 12-DEC-2019 13.50 LAGOS 27-NOV-2020 15.00 KOGI 31-DEC-2020 14.50 EKITI II 31-DEC-2020 15.00 NASARAWA 06-JAN-2021 15.50 BAUCHI 9-DEC-2021 16.50 OYO 16-FEB-2022 16.50 BENUE 27-FEB-2022 17.50 PLATEAU 30-MAR-2022 17.00 KOGI II 31-MAR-2022 17.00 CROSS RIVER 27-MAY-2022

10.00 13.75 14.00 14.00 14.00 14.50 14.00 15.50 15.50 14.50 14.75 13.50 15.00 14.50 15.00 15.50 16.50 16.50 17.50 17.00 17.00

57.00 11.33 25.00 19.37 3.49 9.45 7.01 18.70 11.14 80.00 19.40 87.50 5.00 3.74 3.76 14.37 4.17 4.30 27.10 3.00 7.34

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

422.14 397.45

Corporate Bonds

Nil Nil Nil A/GCR

0.00/16.00 LCRM 08-DEC-2016 0.00/16.50 LCRM II 19-APR-2017 0.00/16.50 LCRM III 06-JUL-2017 13.00 UBA 30-SEP-2017 15.75 LA CASERA 18-OCT-2018

***LCRM

Bbb+/Agusto†; BBB+/GCR† BBB-/GCR Nil A-/DataPro†; CCC/GCR AAA/DataPro†; B/GCR A+/Agusto; A/GCR BBB-/DataPro†; BB/GCR Nil Bbb/Agusto; A-/GCR AA-/GCR Bbb/Agusto; A-/GCR A-/GCR A+/Agusto; A-/GCR AA-/GCR BBB/GCR A/GCR BBB/GCR A/GCR

UBA *LA CASERA *C & I LEASING *DANA#{r} #

*TOWER

#

*TOWER UBA

#

*CHELLARAMS *DANA#{r}

*TRANSCORP HOTELS PLC LAFARGE AFRICA PLC *TRANSCORP HOTELS PLC FCMB NAHCO LAFARGE AFRICA PLC *FCMB FIDELITY

TOTAL OUTSTANDING VALUE

MPR+7.00 DANA 9-APR-2018 MPR+7.00 TOWER 9-SEP-2018 MPR+5.25 TOWER 9-SEP-2018 14.00 UBA II 30-SEP-2018

UBA

A/GCR AAA/GCR

18.00 C&I LEASING 30-NOV-2017

STANBIC IBTC STANBIC IBTC *NMRC

MPR+5.00 CHELLARAMS II 17-FEB-2019 16.00 DANA II 1-APR-2019 15.50 TRANSCORP 4-DEC-2020 14.25 LAFARGE 15-JUN-2019 16.00 TRANSCORP 26-OCT-2022 15.00 FCMB 6-NOV-2020 15.75 NAHCO II 14-NOV-2020 14.75 LAFARGE 15-JUN-2021 14.25 FCMB I 20-NOV-2021 16.45 UBA I 30-DEC-2021 16.48 FIDELITY 13-MAY-2022 182D T.bills+1.20 STANBIC IA 30-SEP-2024 13.25 STANBIC IB 30-SEP-2024 14.90 NMRC 29-JUL-2030

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

0.00/16.00 0.00/16.50 0.00/16.50 13.00

112.22 116.70 66.49 20.00

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

0.12 0.48 0.69 0.93

1.00 3.55 5.25 1.88

17.43 21.25 24.30 22.37

99.71 97.90 95.15 92.47

18-Oct-13 30-Nov-12

15.75 18.00

1.20 0.36

18-Oct-18 30-Nov-17

1.23 0.61

4.42 1.88

24.50 20.40

91.41 99.46

09-Apr-11

16.00

2.70

09-Apr-18

0.95

3.15

23.79

93.77

09-Sep-11 09-Sep-11

18.00 16.00

1.45 0.40

09-Sep-18 09-Sep-18

1.12 1.12

6.35 1.00

26.85 21.50

92.09 94.87

30-Sep-11

14.00

35.00

30-Sep-18

1.93

1.17

18.61

92.77

17-Feb-12 01-Apr-14 04-Dec-15 15-Jun-16

18.00 16.00 15.50 14.25

0.23 3.75 9.76 26.39

17-Feb-19 01-Apr-19 04-Dec-20 15-Jun-19

1.31 1.43 2.55 2.63

6.11 3.28 3.55 1.00

25.87 22.59 18.79 16.17

91.85 92.50 93.74 95.93

26-Oct-15 06-Nov-15

16.00 15.00

10.00 23.19

26-Oct-22 06-Nov-20

3.72 4.03

2.77 4.47

17.83 19.50

95.41 87.83

14-Nov-13 15-Jun-16 20-Nov-14

15.75 14.75 14.25

2.05 33.61 26.00

14-Nov-20 15-Jun-21 20-Nov-21

4.05 4.63 5.07

1.00 1.00 2.51

16.02 15.96 17.42

99.18 96.10 89.56

30-Dec-14 13-May-15 30-Sep-14

16.45 16.48 16.29

30.50 30.00 0.10

30-Dec-21 13-May-22 30-Sep-24

5.18 5.54 7.93

1.00 1.00 1.00

15.91 15.91 16.17

101.78 102.02 100.49

30-Sep-14 29-Jul-15

13.25 14.90

15.44 7.82

30-Sep-24 29-Jul-30

7.93 9.15

1.00 1.00

16.17 16.38

87.18 93.48

10-Oct-20

2.27

3.37

19.51

91.80

575.36

TOTAL MARKET CAPITALISATION

554.27

Sukuk *OSUN

14.75 OSUN II 10-OCT-2020

10-Oct-13

AAA/S&P

IFC

10.20 IFC 11-FEB-2018

11-Feb-13

10.20

12.00

11-Feb-18

1.29

1.00

18.01

91.28

Aaa/Moody's; AAA/S&P

*AfDB

11.25 AFDB 1-FEB-2021

10-Jul-14

11.25

12.95

01-Feb-21

2.52

1.00

14.09

94.25

Bid Price

Offer Price

BBB-/Agusto

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

14.75

8.63

8.63 7.93

Supranational Bond

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Rating/Agency

24.95 23.16 Issuer

Description

Issue Date

Coupon (%)

Outstanding Value ($’mm)

Maturity Date

Bid Yield (%)

Offer Yield (%)

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

6.82

6.56

99.73

100.69

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

4.76

4.29

100.58

101.36

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

6.91

6.74

97.14

98.04

101.99

FGN Eurobonds

Prices & Yields

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

FGN

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,487.22

Corporate Eurobonds B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

5.73

4.48

101.08

B/Fitch; B/S&P

FIDELITY BANK PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

18.51

17.43

85.13

86.38

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

6.44

5.62

99.17

100.71

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

7.41

6.74

97.41

98.90

B/Fitch; B/S&P

DIAMOND BANK PLC

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

22.12

20.55

74.83

77.33

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

FIRST BANK PLC ACCESS BANK PLC II FIRST BANK LTD

8.25 AUG 07, 2020 9.25/6M USD LIBOR+7.677 JUN 24, 2021 8.00/2Y USD SWAP+6.488 JUL 23 2021

07-Aug-13 24-Jun-14 23-Jul-14

8.25 9.25 8.00

300.00 400.00 450.00

07-Aug-20 24-Jun-21 23-Jul-21

13.99 11.83 14.71

13.29 11.33 14.36

83.18 90.63 77.17

84.99 92.27 78.17

B-/S&P

ECOBANK NIG. LTD

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

12.23

11.76

84.88

86.63

Maturity Date

DTM

# Risk Premium (%)

Valuation Yield (%)

Discount Rate (%)

B+/Fitch; B+/S&P

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Rating/Agency

3,150.00 2,814.03 Description

Issuer

Outstanding Value (₦’bn)

Issue Date

Yield @ Issue (%)

FSDH CP I 28-NOV-16

30-Aug-16

16.64

0.81

28-Nov-16

33

1.00

17.54

17.26

FSDH CP II 26-MAY-17

30-Aug-16

21.89

14.17

26-May-17

212

2.49

20.86

18.61

Commercial Papers A-/Agusto A-/Agusto

TOTAL OUTSTANDING VALUE

FSDH MERCHANT BANK LIMITED FSDH MERCHANT BANK LIMITED

14.98

**TREASURY BILLS^ DTM 8 22 36 43 50 64 71 85

FIXINGS Maturity 3-Nov-16 17-Nov-16 1-Dec-16 8-Dec-16 15-Dec-16 29-Dec-16 5-Jan-17 19-Jan-17

Bid Discount (%) 17.57 15.96 17.86 17.16 16.74 17.07 17.59 14.89

Offer Discount (%) 17.32 15.71 17.61 16.91 16.49 16.82 17.34 14.64

Bid Yield (%) 17.64 16.12 18.18 17.51 17.13 17.60 18.22 15.42

Money Market

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 12.0500 18.7772 20.1762 21.7088

Foreign Exchange (Spot & Forwards)

Tenor

Rate (%)

OBB

10.50

Tenor

Closing Rate ($/N)

O/N

11.25

Spot 7D 14D 1M 2M 3M

306.78 315.62 317.37 319.69 324.01 326.61

Tenor Call 1M

REPO

Rate (%) 12.33 14.17

Issuer

Rating/Agency

Description 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 14.50 15-JUL-2021 ^16.39 27-JAN-2022 ^14.20 14-MAR-2024 ^12.50 22-JAN-2026 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 ^12.40 18-MAR-2036

THURSDAY, OCTOBER 27, 2016 NEW TELEGRAPH

Issue Date

Coupon (%)

Outstanding Value (₦’bn)

Maturity Date

TTM (Yrs)

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

27-Apr-12 27-Jul-07 31-Aug-07 30-May-08 29-Jun-12 23-Oct-09 13-Feb-15 13-Jul-16 27-Jan-12 14-Mar-14 22-Jan-16 28-Nov-08 22-May-09 20-Nov-09 23-Jul-10 18-Jul-14 18-Mar-16

15.10 9.85 9.35 10.70 16.00 7.00 15.54 14.50 16.39 14.20 12.50 15.00 12.49 8.50 10.00 12.15 12.4000

480.13 20.00 100.00 300.00 351.30 233.90 606.43 225.59 605.31 719.99 468.02 75.00 150.00 200.00 591.57 1075.92 352.00

27-Apr-17 27-Jul-17 31-Aug-17 30-May-18 29-Jun-19 23-Oct-19 13-Feb-20 15-Jul-21 27-Jan-22 14-Mar-24 22-Jan-26 28-Nov-28 22-May-29 20-Nov-29 23-Jul-30 18-Jul-34 18-Mar-36

0.50 0.75 0.85 1.59 2.67 2.99 3.30 4.72 5.25 7.38 9.24 12.09 12.57 13.07 13.74 17.72 19.39

17.87 19.41 20.00 18.70 14.63 14.89 15.11 14.95 14.89 15.07 15.41 15.32 15.30 15.29 15.27 15.14 15.47

17.54 19.18 19.78 18.57 14.56 14.81 14.99 14.85 14.80 15.00 15.34 15.26 15.24 15.21 15.20 15.08 15.41

98.72 93.53 92.03 89.36 102.88 81.50 101.02 98.46 105.28 96.17 85.83 98.22 84.46 62.05 70.02 81.69 81.24

98.87 93.68 92.18 89.51 103.03 81.65 101.32 98.76 105.58 96.47 86.13 98.52 84.76 62.35 70.32 81.99 81.54

# Risk Premium (%)

Valuation Yield (%)

Modelled Price

2.94

18.92

99.53

3.04

18.05

97.56

BUSINESS |FINANCIAL MARKET NEWS

Resumed bargain hunting lifts stocks by N8bn TOTAL OUTSTANDING VALUE

6,555.16

TOTAL MARKET CAPITALISATION

5,891.99

Rating/Agency

Description

Issuer

Agency Bonds

17.25 FMB II 03-APR-2017

Nil

FMBN

A+/Agusto; A+/GCR A-/Agusto A-/Agusto A/Agusto; A+/GCR A-/Agusto; A-/GCR A/Agusto‡ ; A-/GCR† A-/Agusto A-/Agusto; A-/GCR BBB+/Agusto; A-/GCR Aa-/Agusto; AA-/GCR BBB-/Agusto; BBB+/GCR† Aa-/Agusto; AA-/GCR Bbb+/Agusto; BBB+/DataPro A/Agusto‡ A-/GCR A-/Agusto A-/Agusto Bbb-/Agusto Bbb+/Agusto Bbb+/Agusto A-/GCR

LAGOS *BAYELSA EDO *DELTA *NIGER *EKITI *NIGER *ONDO *GOMBE LAGOS *OSUN LAGOS KOGI *EKITI *NASARAWA *BAUCHI *OYO *BENUE *PLATEAU KOGI *CROSS RIVER

TOTAL OUTSTANDING VALUE

BOOST TOTAL MARKET CAPITALISATION Sub-National Bonds Stock market halts 3-day losing streak

Stories: Chris Ugwu

T

rading on the floor of the Nigerian Stock Exchange (NSE) returned to the upbeat after three days of downswing, as equities

got a fillip from resumed bargain hunting activities across the board.

10.00 LAGOS 19-APR-2017 13.75 BAYELSA 30-JUN-2017 The equities market closed on 14.00 EDO 31-DEC-2017 a positive note, as NSE ASI and 14.00 DELTA 30-SEP-2018 14.00 NIGER II 4-OCT-2018 market capitalisation appreci14.50 EKITI 09-DEC-2018 14.000.08 NIGER per III 12-DEC-2018 ated by cent.

15.50 ONDO 14-FEB-2019 Consequently , the All-Share 15.50 GOMBE 02-OCT-2019 14.50 LAGOS 22-NOV-2019 Index14.75 gained 21.87 basis points or OSUN 12-DEC-2019 13.50 LAGOS 27-NOV-2020 0.08 per cent to close at 27,120.39 15.00 KOGI 31-DEC-2020 EKITI II 31-DEC-2020 basis14.50 points as against 27,098.52 15.00 NASARAWA 06-JAN-2021 15.50 BAUCHI recorded the 9-DEC-2021 previous day, while 16.50 OYO 16-FEB-2022 the market of eq16.50 BENUEcapitalisation 27-FEB-2022 PLATEAU 30-MAR-2022 uities17.50 appreciated by N8 billion 17.00 KOGI II 31-MAR-2022

Issue Date

Coupon (%)

03-Apr-12

17.25

27-May-15

17.00

or 0.08 per cent to close at N9.315 trillion from N9.307 trillion.

Meanwhile, a turnover of 19-Apr-10 10.00 13.75 159.9 million30-Jun-10 shares exchanged 31-Dec-10 14.00 in 2,396 deals 30-Sep-11 was recorded in the 14.00 04-Oct-11 14.00 day’s trading.09-Dec-11 14.50 14.00 Premium 12-Dec-13 sub-sector was the 14-Feb-12 15.50 02-Oct-12 15.50 most active (measured by turn22-Nov-12 14.50 12-Dec-12 14.75 over volume); with 57.7 million 27-Nov-13 13.50 shares exchanged 31-Dec-13 by investors 15.00 14.50 in 503 deals. 31-Dec-13 06-Jan-14 15.00 15.50 Volume in09-Dec-14 the subsector was 17-Feb-15 16.50 16.50 largely driven27-Feb-15 by activities in the 30-Mar-15 17.50 shares of Zenith and 01-Apr-15Bank Plc 17.00

17.00 CROSS RIVER 27-MAY-2022

FBNH reports N58bn PBT in nine months TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

F

Corporate Bonds

0.00/16.00 LCRM 08-DEC-2016 BNH Plc has recorded amidst a slowLCRM business envi***LCRM 0.00/16.50 II 19-APR-2017 0.00/16.50 LCRM III 06-JUL-2017 profit before UBA tax of ronment.

However, despite the 13.00 UBA 30-SEP-2017 LA CASERA 18-OCT-2018 Bbb+/Agusto†; BBB+/GCR† *LA CASERA N57.5 billion for the nine 56.5 per 15.75 cent y-o-y increase in 18.00 C&I LEASING 30-NOV-2017 BBB-/GCR *C & I LEASING MPR+7.00 DANA 9-APR-2018 months ended September 30, non-interest income to N131.0 Nil *DANA MPR+7.00 TOWER 9-SEP-2018 A-/DataPro†; CCC/GCR *TOWER 2016 as against N59.6 billion billion, interest income deMPR+5.25 TOWER 9-SEP-2018 AAA/DataPro†; B/GCR *TOWER 14.00 UBA II 30-SEP-2018 A+/Agusto; A/GCR UBA posted in 2015. clined by 7.3 per cent y-o-y MPR+5.00 CHELLARAMS II 17-FEB-2019 BBB-/DataPro†; BB/GCR *CHELLARAMS 16.00billion DANA II 1-APR-2019 Nil Gross earnings however, to N278.6 as against *DANA 15.50 TRANSCORP 4-DEC-2020 Bbb/Agusto; A-/GCR *TRANSCORP HOTELS PLC increased by 7.0 per cent y-o- N300.4 billion in15-JUN-2019 September 14.25 LAFARGE AA-/GCR LAFARGE AFRICA PLC 16.00 TRANSCORP 26-OCT-2022 A-/GCR PLC yBbb/Agusto; to N417.3 billion from*TRANSCORP N390.0 HOTELS 2015.

15.00 FCMB 6-NOV-2020 A-/GCR FCMB 15.75 NAHCO II 14-NOV-2020 A+/Agusto; reported A-/GCR billion a yearNAHCO earlier.

“Net-interest income im14.75 LAFARGE 15-JUN-2021 AA-/GCR LAFARGE AFRICA PLC According to a statement proved by 5.2 per cent y-o-y 14.25 FCMB I 20-NOV-2021 BBB/GCR *FCMB 16.45 UBA I 30-DEC-2021 A/GCR UBAearnfrom the Group, “The to N202.9 billion from N192.9 16.48 FIDELITY 13-MAY-2022 BBB/GCR FIDELITY 182D T.bills+1.20 STANBIC IA 30-SEP-2024 A/GCR reflect the strong ings busibillion in 2015, driven by a 38.4 STANBIC IBTC 13.25 STANBIC IB 30-SEP-2024 A/GCR STANBIC IBTC ness as we per cent14.90 reduction in interest NMRC 29-JUL-2030 AAA/GCR fundamentals *NMRC TOTAL OUTSTANDING VALUE keep the revenue momentum expense on customers’ deposNil Nil Nil A/GCR

#{r}

# #

#

#{r}

TOTAL MARKET CAPITALISATION

39

6510.155565

Outstanding Value (₦’bn)

Maturity Date

Avg. Life/TTM (Yrs)

0.60

03-Apr-17

0.26

7.34

27-May-22

3.32

0.60 Plc. FBNH 0.60 Banking sub-sector of the financial services sector boosted 57.00 19-Apr-17 0.48 11.33 30-Jun-17 0.44of by activities in the shares 25.00 31-Dec-17 1.18 UBA19.37 Plc and Access Bank Plc fol30-Sep-18 1.22 3.49 04-Oct-18 1.23 lowed 9.45with a turnover 09-Dec-18 of 39.1mil1.19 7.01 12-Dec-18 1.20 lion18.70 shares in 587 deals.

14-Feb-19 1.38 11.14 number 02-Oct-19 1.79 The of gainers and 80.00 22-Nov-19 3.07 19.40at the close 12-Dec-19 losers of trading1.76 ses87.50 27-Nov-20 4.09 sion5.00 was 17 apiece.

31-Dec-20 4.18 3.74 31-Dec-20 2.41 e-Transact Plc led the gainers’ 3.76 06-Jan-21 2.44 09-Dec-21 2.99 table14.37 with a gain of 10.11 per cent 4.17 16-Feb-22 3.20 4.30 at N5.12 27-Feb-22 3.23 to close per share, while 27.10 30-Mar-22 3.34 Learn followed with 3.00 Africa Plc 31-Mar-22 6.46 a

gain of 4.92 per cent each to close at 64 kobo per share. Unilever Nigeria Plc added 4.60 per96.15 cent to 1.00 18.70 5.71 23.07 per share.

96.28 close at N48.01 2.39 22.65 91.38 On the 21.11 other hand,92.81Julius 1.00 1.00 21.06 Berger Plc24.04 and UACN92.80 Plc led 3.82 90.92 3.56 23.76 90.65 the price losers’ table, dropping 3.82 23.34 91.40 2.02 per cent 19.97 each to 93.70 five close at 2.01 16.92 94.34 1.00 93.88 N38.00 and19.09 N18.43 per share re1.30 16.32 91.79 spectively . CAP Plc followed 3.76 18.77 89.33 with 2.53 4.89 per cent18.14 each to close93.39 at N3.50 1.00 16.52 97.10 1.52share, while 16.41 97.97Feeds per Livestock 4.01 18.97 94.47 1.00trailed with 15.97 Plc a loss of101.16 4.88 per 2.52 17.54 99.86 cent at 78 kobo per share.

1.79 to close 16.70 101.01

Conoil records 51% growth in Q3 PAT 422.14 397.45

its to N56.7 billion09-Dec-11 as against 0.00/16.00 20-Apr-12 0.00/16.50 06-Jul-12 N92.0 billion in 30-Sep-10 September 0.00/16.50 13.00 18-Oct-13 15.75 2015.

30-Nov-12 18.00 “This was partly 09-Apr-11 offset 16.00 09-Sep-11 by a 7.3 per cent09-Sep-11 decline in 18.00 16.00 30-Sep-11 interest income, largely due 14.00 17-Feb-12 18.00 01-Apr-14 to a 4.7 per cent y-o-y drop in 16.00 04-Dec-15 loans to customers to N193.0 15.50 15-Jun-16 14.25 26-Oct-15 billion from N202.5 billion in 16.00 06-Nov-15 15.00 14-Nov-13 September 2015 due to tighten- 15.75 15-Jun-16 14.75 ing of our risk acceptance cri- 14.25 20-Nov-14 30-Dec-14 16.45 teria, as well as 12.7 per cent 13-May-15 16.48 y-o-y decrease in 30-Sep-14 interest on 16.29 30-Sep-14 13.25 investment securities to N74.1 14.90 29-Jul-15 billion from N85.0 billion.

C

112.22 08-Dec-16 onoil recorded 510.12 per 116.70 Plc has 19-Apr-17 0.48 66.49 06-Jul-17 0.69 cent increase in its profit 20.00 30-Sep-17 0.93 1.20 18-Oct-18 1.23 after tax for30-Nov-17 the nine-month 0.36 0.61 period ended September 30. 0.95 2.70 09-Apr-18 1.45 09-Sep-18 1.12 The unaudited results of the oil 0.40 09-Sep-18 1.12 35.00 30-Sep-18 1.93 marketing company submitted to 0.23 17-Feb-19 1.31 3.75 1.43 the Nigerian Stock01-Apr-19 Exchange (NSE) 9.76 04-Dec-20 2.55 on yesterday showed profit before 26.39 15-Jun-19 2.63 10.00 26-Oct-22 3.72 tax of N2.72 billion, an increase of 23.19 06-Nov-20 4.03 2.05 14-Nov-20 4.05 54 per cent over the N1.76 billion 33.61 15-Jun-21 4.63 recorded in the previous 26.00 20-Nov-21 year, while 5.07 30.50 30-Dec-21 5.18 profit after tax increased by 51 per 30.00 13-May-22 5.54 0.10 30-Sep-24 last year 7.93 to cent; from N1.2 billion 15.44 30-Sep-24 7.93 N1.81 billion.

7.82 29-Jul-30 9.15 575.36 Per Share increased by Earnings

554.27

99.71 511.00 per cent17.43 from N172 last 3.55 21.25 97.90 year 24.30 95.15 to5.25 N261.

1.88 22.37 92.47 4.42 24.50 91.41 Similarly , revenue increased 1.88 20.40 99.46 by3.15six per cent billion 23.79 from N60.2 93.77 6.35 26.85 92.09 to1.00 N63.9 billion.

21.50 94.87 1.17 18.61 92.77 According to the manage6.11 25.87 91.85 3.28 22.59company ment of the ,92.50 the im3.55 18.79 93.74 pressive result to 1.00 16.17 was attributed 95.93 2.77 17.83 95.41 efficient allocation of resources, 4.47 19.50 87.83 1.00long term 16.02 and pain-staking 99.18 its 1.00 15.96 96.10 strategic business planning and 2.51 17.42 89.56 1.00 15.91 101.78 its strict adherence and imple1.00 15.91 102.02 1.00 16.17 100.49 mentation of global operating 1.00 16.17 87.18 standards in all its business 1.00 16.38 93.48 processes.

Union Bank’s Q3 pre-tax profit hits N13.3b Sukuk

BBB-/Agusto

*OSUN

10-Oct-13

14.75 OSUN II 10-OCT-2020

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

14.75

8.63

10-Oct-20

8.63 7.93

U

nion Bank of Nigeria (UBN) Plc pared with N9.6 billion in third quarter deposit improved from N570.6 billion to yesterday announced its earn2015.

Similarly, after taxes, net profit also N631.9 billion.

Shareholders’ funds also 10.20 IFC 11-FEB-2018 11-Feb-13 10.20 12.00 11-Feb-18 IFC 11.25 AFDB 1-FEB-2021 Aaa/Moody's; AAA/S&P 10-Jul-14 11.25 12.95billion to 01-Feb-21 *AfDB ings for the third quarter, indicatrose from N9.34 billion to N13.01 billion. increased from N238.6 N253.1 TOTAL OUTSTANDING VALUE 24.95 ing 27MARKET per cent growth in pre-tax profit With these, earnings per share improved billion.

TOTAL CAPITALISATION 23.16 to N13.3 billion within the period. from 55 kobo in 2015 to 76 kobo in 2016.

Commenting on results, chief execuOutstanding Value Description Rating/Agency Issuer Issue Date Coupon (%) Maturity Date ($’mm) The lender also saw considerable Key underlying ratios were generally tive officer, Union Bank of Nigeria (UBN) FGN Eurobonds growth in the top-line, as gross earnings positive. Net interest margin, which un- Plc, EmekaEmuwa, said the results were JAN 28, 2021 07-Oct-11 6.75 BB-/Fitch; B+/S&P rose by 12 per cent to N93.4 billion. derlines the6.75profitability of the core bankencouraging and they500.00 underlined28-Jan-21 the sucBB-/Fitch; FGN 5.13 JUL 12, 2018 12-Jul-13 5.13 many strategies 500.00 12-Jul-18 the The interim report and account for the ing operations, improved from 8.1 per cent cesses of the driving BB-/S&P BB-/Fitch; 6.38 JULCost-to-income 12, 2023 12-Jul-13 6.38 banking500.00 Union Bank Group for the nine-month to 8.8 per cent. ratio also bank’s core operations12-Jul-23 and its BB-/S&P TOTAL OUTSTANDING VALUE 1,500.00 period ended September 30, 2016 released increased to 63 per cent as against 76 per thriving retail business.

TOTAL MARKET CAPITALISATION 1,487.22 at the Nigerian Stock Exchange (NSE) cent in comparable period of 2015. Return “We are encouraged by this perforCorporate that Eurobonds showed group gross earnings rose by on equity rose to 6.9 per cent as against 5.5 mance which comes in the face of a re7.25 JUL 25, 2017 25-Jul-12 7.25 350.00 25-Jul-17 B+/S&P ACCESS BANK PLC 12 perB/S&P cent to N93.43 billion inBANK third per cent, while return cessionary increased 6.88 MAY 09, 2018 on assets improved 09-May-13 6.88environment, 300.00 02-May-18imB/Fitch; FIDELITY PLC quarter 6.00 NOV 08, 2018 08-Nov-13 6.00 400.00 08-Nov-18 B+/Fitch; B+/S&P GTBANK PLCrecorded in 2015 as against N83.72 billion from 1.2 per cent to 1.6 per cent. pairments and headwinds in our trade 6.25 APR 22, 2019 22-Apr-14 6.25 500.00 22-Apr-19 B+/Fitch; BB-/S&P ZENITH BANK PLC comparable period of 2015.

Interest Group total balance business 8.75 due to scarcity of foreign 8.75 May 21, 2019 sheet size expanded 21-May-14 200.00 21-May-19exB/Fitch; B/S&P DIAMOND BANK PLC income 8.25 AUG 07, 2020 07-Aug-13 8.25 300.00 07-Aug-20 B-/Fitch; B/S&P FIRST BANK PLC grew from N66.91 billion to N70.96 billion. to N1.22 trillion

by September 2016 comchange. Our steady effort to build a low 9.25/6M USD LIBOR+7.677 JUN 24, 2021 24-Jun-14 9.25 400.00 24-Jun-21 B-/Fitch; B/S&P ACCESS BANK PLC II USD SWAP+6.488 JUL 23 2021 23-Jul-14 8.00 450.00 23-Jul-21 B-/Fitch; B/S&P FIRST BANK LTD by 19 per Net interest income improved pared8.00/2Y with N1.05 trillion recorded by the cost, customer centric retail business over 8.75 AUG 14, 2021 14-Aug-14 8.75 250.00 14-Aug-21 B-/S&P ECOBANK NIG. LTD cent from N40.27VALUE billion to N48.07 billion. close of the year ended December 31, 2015. the past 18 months is demonstrating reTOTAL OUTSTANDING 3,150.00 TOTAL MARKET CAPITALISATION 2,814.03 Non-interest income also rose by 35 per Gross loans and advances also rose within sults and continues to win us a new, growcent from N16.67 billion to N22.47 billion. the nine-month period by 37 per cent from ing retail customerOutstanding base,” Emuwa said.

Description Rating/Agency Issuer Issue Date Yield @ Issue (%) Maturity Date Value (₦’bn) Profit before tax inched up by 27 per cent N388.8 billion in December 2015 to N534.4 He gave assurance that while the operCommercial Papers to N13.3 billion in thirdFSDH quarter 2015 combillion by September 2016.

Customers’ ating environment remains a challenge, MERCHANT BANK Supranational Bond

AAA/S&P

A-/Agusto A-/Agusto

TOTAL OUTSTANDING VALUE

LIMITED FSDH MERCHANT BANK LIMITED

FSDH CP I 28-NOV-16

30-Aug-16

16.64

0.81

28-Nov-16

FSDH CP II 26-MAY-17

30-Aug-16

21.89

14.17

26-May-17

FMDQ Daily Quotations List

2.27

3.37

19.51

91.80

the bank will continue to focus on executing , defending its loan 1.29 its strategy 1.00 18.01 91.28 book 2.52 adhering 1.00 14.09 94.25 and to prudent risk management principles.

Chief financial officer, Union Bank Bid Yield (%) Offer Yield (%) Price Offer Price of Nigeria (UBN) Bid Plc, OyinkanAdewale Prices & Yields noted that the bank had continued to man6.82 100.69 age its cost6.56 of funds,99.73 which resulted in 14 4.76 cent reduction 4.29 100.58 101.36 per in interest expenses 6.91 97.14 6.74 notwithstanding 98.04 year-on-year, growth in customer deposits and increase in medium term borrowings.

“Our cost optimisation initiatives con5.73 4.48 101.08 101.99 tinue to yield cost-to-income 18.51 17.43 good results; 85.13 86.38 6.44 5.62 99.17 100.71 ratio has improved to 62 per cent from 70 7.41 6.74 97.41 98.90 per year.77.33 Cost-to22.12 cent in 20.55the previous 74.83 13.99 83.18 84.99 income is 13.29 buoyed by income and operat11.83 11.33 90.63 92.27 14.71 expenses 14.36 in line 77.17with expectations 78.17 ing 12.23 11.76 84.88 86.63 in spite of inflationary and devaluation pressures. We will continue to implement our cost discipline initiatives across the Risk Valuation DTM Discount Rate (%) Premium Yield (%) Bank to stay (%) within our cost targets,” Adewale said. #

33

1.00

17.54

212

2.49

20.86

17.26 18.61

26-Oct-16

14.98

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 FIXINGS Money Market Foreign Exchange (Spot & Forwards) 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, DTM Maturity Discount (%) Discount (%) Bid Yield (%) Tenor Rate (%) NIBOR performance or fitness for a particular purpose of any of the Information,Bid neither do we accept liabilityOffer for the results of any action taken on the basis of the Information.

8 3-Nov-16 17.57 17.32 17.64

**TREASURY BILLS^

22 36 FGN Bonds 43 50 64 71 Rating/Agency 85 99 113 120 127 134 141 148 155 162 169 176 190 197 211 218 232 246 253 260 267 274 281 TOTAL OUTSTANDING VALUE 288 295 CAPITALISATION TOTAL MARKET 302 309 323 Rating/Agency 330

17-Nov-16 1-Dec-16 8-Dec-16 15-Dec-16 29-Dec-16 5-Jan-17 Issuer 19-Jan-17 2-Feb-17 16-Feb-17 23-Feb-17 2-Mar-17 9-Mar-17 16-Mar-17 23-Mar-17 30-Mar-17 6-Apr-17 13-Apr-17 20-Apr-17 4-May-17 11-May-17 25-May-17 1-Jun-17 15-Jun-17 29-Jun-17 6-Jul-17 13-Jul-17 20-Jul-17 27-Jul-17 3-Aug-17 10-Aug-17 17-Aug-17 24-Aug-17 31-Aug-17 14-Sep-17 Issuer 21-Sep-17

Agency Bonds Nil

TOTAL OUTSTANDING VALUE

FMBN

15.96 17.86 17.16 16.74 17.07 17.59 Description 14.89 17.10 15.10 27-APR-201717.63 9.85 27-JUL-2017 17.62 9.35 31-AUG-2017 18.07 10.70 30-MAY-201817.65 17.25 ^16.00 29-JUN-2019 17.33 7.00 23-OCT-2019 17.40 ^15.54 13-FEB-2020 18.15 14.50 15-JUL-2021 16.64 16.30 ^16.39 27-JAN-2022 18.05 ^14.20 14-MAR-2024 17.14 ^12.50 22-JAN-2026 17.46 15.00 28-NOV-202818.38 12.49 22-MAY-202917.67 8.50 20-NOV-2029 17.79 18.42 ^10.00 23-JUL-203018.12 ^12.1493 18-JUL-2034 17.82 ^12.40 18-MAR-2036 18.01 18.36 18.49 18.32 18.15 18.46 18.47 18.50

Description

17.25 FMB II 03-APR-2017

15.71 17.61 16.91 16.49 16.82 17.34 Issue Date 14.64 16.85 27-Apr-12 17.38 27-Jul-07 17.37 17.82 31-Aug-07 17.40 30-May-08 17.00 29-Jun-12 17.08 23-Oct-09 17.15 13-Feb-15 17.90 16.39 13-Jul-16 16.05 27-Jan-12 17.80 14-Mar-14 16.89 22-Jan-16 17.21 28-Nov-08 18.13 17.42 22-May-09 17.54 20-Nov-09 18.17 23-Jul-10 17.87 18-Jul-14 17.57 18-Mar-16 17.76 18.11 18.24 18.07 17.90 18.21 18.22 18.25

16.12 Bonds 18.18

17.51 17.13 17.60 18.22 (%) Coupon 15.42 17.93 15.10 18.64 9.85 18.70 19.28 9.35 18.87 10.70 18.48 16.00 18.64 7.00 18.79 15.54 19.73 18.02 14.50 17.68 16.39 19.92 14.20 18.88 12.50 19.41 15.00 20.64 19.91 12.49 20.21 8.50 21.11 10.00 20.80 12.15 20.49 12.4000 20.83 21.39 21.65 21.51 21.36 21.87 22.08 Issue Date 22.22

03-Apr-12

Tenor O/N 1M 3M 6M

Outstanding Value (₦’bn)

Rate (%) 12.0500 18.7772 20.1762 21.7088

Maturity Date

NITTY 480.13 27-Apr-17 20.00 27-Jul-17 Tenor Rate (%) 1M 17.1446 100.00 31-Aug-17 2M 17.2154 300.00 30-May-18 3M 17.3871 351.30 29-Jun-19 6M 18.2416 233.90 23-Oct-19 9M 20.8750 606.43 13-Feb-20 12M 22.9171 225.59 15-Jul-21 605.31 27-Jan-22 NIFEX 719.99 14-Mar-24 468.02 22-Jan-26 Current Price ($/N) 75.00 28-Nov-28 NIFEX Rate 317.5000 150.00 22-May-29 200.00 20-Nov-29 591.57 23-Jul-30 1075.92 18-Jul-34 352.00 18-Mar-36

OBB

10.50

Tenor

O/N

11.25

Spot 7D 14D 1M Offer2MYield (%) 3M 6M 17.54 1Y

REPO

Tenor Call TTM (Yrs) 1M 3M 0.50 6M

Rate (%) 12.33 (%) Bid Yield 14.17 15.17 17.87 15.83

0.75 19.41 19.18 0.85 20.00 19.78 1.59 18.70 18.57 :Benchmarks 2.67 14.63 14.56 * :Amortising Bond 2.99 14.89 14.81 µ :Convertible Bond 3.30 Management15.11 14.99 AMCON: Asset Corporation of Nigeria FGN: Federal Nigeria 4.72 Government of14.95 14.85 FMBN: Federal of Nigeria 5.25 Mortgage Bank 14.89 14.80 IFC: International Finance Corporation 7.38 15.07 15.00 LCRM: Local Contractors Receivables Management 9.24 15.41 Company15.34 NAHCO: Nigerian Aviation Handling 12.09 15.32 15.26 O/N: Overnight UPDC: UAC Property Development 12.57 15.30 Company 15.24 WAPCO:West Cement Company 13.07 Africa Portland 15.29 15.21 13.74 15.27 15.20 17.72 15.14 15.08 19.39 15.47 15.41 NOTE:

6,555.16

Closing Rate ($/N)

Bid Price

306.78 315.62 Price 317.37 319.69 324.01Offer Price 326.61 333.42 98.87 348.14

98.72 93.53 93.68 92.03 92.18 89.36 89.51 NA :Not Applicable 102.88 103.03 ^ : Market Prices 81.50 81.65 # : Floating Rate Bond 101.02 coupon bonds 101.32 ***: Deferred DTM: Days-To-Maturity 98.46 98.76 TTM: 105.28 Term-To-Maturity 105.58 ‡ : Bond rating under review 96.17 96.47 †: Bond rating expired 85.83 86.13 N/A :Not Available 98.22in receivership 98.52 {r} :Issuer NGC: Nigeria-German Company 84.46 84.76 UBA: United Bank for Africa 62.05 62.35 70.02 70.32 81.69 81.99 81.24 81.54

6510.155565

5,891.99 Coupon (%)

17.25

Outstanding Value (₦’bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Modelled Price

0.60

03-Apr-17

0.26

2.94

18.92

99.53

19-Apr-17 30-Jun-17 31-Dec-17 % 30-Sep-18 Exposure_ Mod_Duration 04-Oct-18 09-Dec-18 12.56 12-Dec-18 29.63 14-Feb-19 57.82 02-Oct-19 100.00 22-Nov-19 12-Dec-19 27-Nov-20 31-Dec-20 31-Dec-20 06-Jan-21 09-Dec-21 16-Feb-22 27-Feb-22 30-Mar-22 31-Mar-22 27-May-22

0.48 0.44 1.18 1.22 Implied Yield 1.23 1.19 15.63 1.20 14.99 1.38 15.18 1.79 15.18 3.07 1.76 4.09 4.18 2.41 2.44 2.99 3.20 3.23 3.34 6.46 3.32

0.60

*for the Amortising bonds, the average life is calculated and not the TTM TOTAL MARKET CAPITALISATION

0.60

#

Risk Premium is a combination of credit risk and liquidity risk premiums **Exclusive of non-trading t.bills

Sub-National Bonds

A+/Agusto; A+/GCR A-/Agusto A-/Agusto A/Agusto; A+/GCR A-/Agusto; A-/GCR A/Agusto‡ ; A-/GCR† A-/Agusto A-/Agusto; A-/GCR BBB+/Agusto; A-/GCR Aa-/Agusto; AA-/GCR BBB-/Agusto; BBB+/GCR† Aa-/Agusto; AA-/GCR Bbb+/Agusto; BBB+/DataPro A/Agusto‡ A-/GCR A-/Agusto A-/Agusto Bbb-/Agusto Bbb+/Agusto Bbb+/Agusto A-/GCR

LAGOS *BAYELSA EDO *DELTA Modified Duration Buckets *NIGER *EKITI <3 *NIGER 3<5 *ONDO >5 *GOMBE Market LAGOS *OSUN LAGOS KOGI *EKITI *NASARAWA *BAUCHI *OYO *BENUE *PLATEAU KOGI *CROSS RIVER

10.00 13.75 14.00 14.00 14.00 14.50 14.00 15.50 15.50 14.50 14.75 13.50 15.00 14.50 15.00 15.50 16.50 16.50 17.50 17.00 17.00

LAGOS 19-APR-2017 BAYELSA 30-JUN-2017 EDO 31-DEC-2017 DELTA 30-SEP-2018 Porfolio Market Value (₦’bn) NIGER II 4-OCT-2018 EKITI 09-DEC-2018 958.53 NIGER III 12-DEC-2018 1,329.65 ONDO 14-FEB-2019 1,293.18 GOMBE 02-OCT-2019 3,581.36 LAGOS 22-NOV-2019 OSUN 12-DEC-2019 LAGOS 27-NOV-2020 KOGI 31-DEC-2020 EKITI II 31-DEC-2020 NASARAWA 06-JAN-2021 BAUCHI 9-DEC-2021 OYO 16-FEB-2022 BENUE 27-FEB-2022 PLATEAU 30-MAR-2022 KOGI II 31-MAR-2022 CROSS RIVER 27-MAY-2022

19-Apr-10 10.00 57.00 FMDQ FGN BOND INDEX 11.33 30-Jun-10 13.75 31-Dec-10 14.00 25.00 30-Sep-11 14.00 19.37 Total Outstanding Volume Weighting by Weighting

by Mkt Bucket Weighting (₦’bn) Outstanding Volume Value 04-Oct-11 14.00 3.49 09-Dec-11 14.50 9.45 0.24 957.73 24.24 26.76 12-Dec-13 14.00 7.01 0.34 1,325.30 33.55 37.13 14-Feb-12 15.50 36.11 18.70 0.42 1,667.49 42.21 02-Oct-12 15.50 11.14 3,950.52 100.00 100.00 1.00 22-Nov-12 14.50 80.00 12-Dec-12 14.75 19.40 27-Nov-13 13.50 87.50 31-Dec-13 15.00 5.00 31-Dec-13 14.50 3.74 06-Jan-14 15.00 3.76 09-Dec-14 15.50 14.37 17-Feb-15 16.50 4.17 27-Feb-15 16.50 4.30 30-Mar-15 17.50 27.10 01-Apr-15 17.00 3.00 27-May-15 17.00 7.34

1.00 5.71 2.39 1.00 Implied Portfolio 1.00Price 3.82 136.2632 3.56 150.1815 3.82 110.0451 2.02 129.8660 2.01 1.00 1.30 3.76 2.53 1.00 1.52 4.01 1.00 2.52 1.79 3.04

18.70 23.07 22.65 21.11 INDEX 21.06 24.04 1,239.68 23.76 1,301.98 23.34 1,326.71 19.97 1,236.66 16.92 19.09 16.32 18.77 18.14 16.52 16.41 18.97 15.97 17.54 16.70 18.05

96.15 96.28 91.38 YTD92.81 Return (%) 92.80 90.9211.8997 90.6528.5818 91.4031.7464 93.7017.1988 94.34 93.88 91.79 89.33 93.39 97.10 97.97 94.47 101.16 99.86 101.01 97.56

40

News|SOUTH-WEST

Senate’s motion to reintroduce toll gates insensitive –Paseda Kunle Olayeni Abeokuta

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ormer Ogun State governorship candidate of the Unity Party of Nigeria (UPN), Otunba Rotimi Paseda, yesterday faulted the call by the Senate for the reintroduction of toll gates on the nation’s highways.

Paseda, in a statement made available to New Telegraph, described the Senate’s resolution backing reintroduction of toll gates as a “misplaced priority and poor decision.”

The Senate had on Tuesday passed a motion seeking to revive the collection of tolls on federal roads across the country, saying such measure was the only way to maintain highways and enhance their efficiency.

But Paseda, who contested the 2015 governorship poll on the platform

Osun job centre, a fraud – PDP he Peoples DemocratT ic Party (PDP), Osun State chapter, yesterday

described the job centre recently inaugurated by the state governor, Rauf Aregbesola, as a “fraud and another misstep from a straying administration”.

Governor Aregbesola had recently commissioned for use a centre in Osogbo to assist unemployed youth search for job in the labour market.

But the opposition party, in a statement signed by its spokesperson, Prince Diran Odeyemi, said it was bizarre that Aregbesola’s administration that could not pay salaries and pensions of workers and retirees, would embark on another round of wasteful spending through a multimillion naira centre to assist unemployed youth get job that is not created or available.

The PDP said Aregbesola’s administration that first introduced “half salary” before other states started copying the idea, had tried its hands on many other initiatives to engage youth without success, asking the administration to explain what gains O’yes and other programmes has brought to the state.

The statement reads: “Mr. Aregbesola from our findings must have been seeing job centres in advanced countries of the world and thought introducing such would halt his falling popularity among the people of the state.”

of UPN, kicked against the move by the lawmakers to reintroduce tolls on federal roads.

According to him, the proposed tolls would not address the challenges of road maintenance but rather cause more hardship for Nigerians.

He said, “I totally disagree with federal tolls. Why? Do they want to kill Nigerians?

It’s hardship compilation, suffering galore.

“The same people we are to protect and provide for are the very same people we are grossly unconcerned about.

Some of the federal roads were awarded many times and the money squandered and more than likely embezzled by a few.

“Now my people are being made to pay the prices for something they had no say on. Are we leaders or lenders of pain and sorrow? Posterity will judge all politicians and political office holders that may be found wanting.”

Ambode has reduced Lagos traffic problems, says Oshiomhole

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overnor of Edo State, Adams Oshiomhole, yesterday commended his Lagos State counterpart, Mr. Akinwunmi Ambode, for his various interventions in the last 18 months of his administration, saying that it has greatly impacted on the state, especially in the area of traffic reduction.

Oshiomhole, who spoke at the closing ceremony of the 16th National Women Conference, organised by the Committee of Wives of Lagos State Officials (COWLSO), commended the wife of the Governor of Lagos State, Mrs. Bolanle Ambode, particularly for sustaining COWLSO since its establishment, adding that the choice of the theme for this year’s conference “Strong Family, Strong Nation’, was quite instructive.

Speaking on the specific challenges posed by modern lifestyle on the family,

where the parents would have to leave home early and come home late, Oshiomhole said Governor Ambode, with his strategic traffic management initiatives, was to a very large extent addressing the challenges.

Oshiomhole said: “As I was coming to this place today, I noticed something that I think is worth celebrating because of its impact in helping family unity and family union. Why will you wake up at 5am or 4am just to be at work at 8am devoting all the time to traffic?

“The reason was because of the huge traffic challenges but when I received the invitation for today’s event and I was advised that it was 10am and I know my brother, Gov-

£9,720

The daily salary of Nigel de Jong of AC Milan in 2014/2015.

Source: Paywizard.co.uk

ernor Ambode keeps to time, I said we have to get up early and I told my wife that we are going to spend about two hours from Ikeja Airport to get to Ikoyi, but I was very pleasantly surprised that coming from Ikeja to this place, it was like flying a first class aircraft from Alausa to the heart of Ikoyi.”

“When I got here, I was asking the governor on how he did it and he shared with me the interventions put in place within months of his assumption of office that have helped to completely reorder the traffic in Lagos such that when we slow down to about 20km per hour, we noticed people asking what is causing this go slow but things have changed so much.”

79.05%

The percentage of individuals using the internet in Israel in 2011.

Source: Itu.int

L-R‎: Mr. Claude Fauquet; Director Technical Operations of African Agricultural Technology Fund, Alfred Dixon; Dr. Emmanuel Okogbenin; Ogun State Governor, Ibikunle Amosun; Head of the Delegation, Mr. Enock Chikawa and the Senior Programme Officer on Agriculture, Dr. Audu Grema, after a courtesy visit of a team from African Agricultural Technology Fund and Bill and Melinda Gates Foundation to the Governor of Ogun State in Abeokuta…yesterday

Again, protesting workers ground Federal Poly, Ado-Ekiti Sulaiman Salawudeen Ado-Ekiti

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orkers of the Federal Polytechnic, Ado-Ekiti, currently on indefinite strike, yesterday returned to the entrance of the institution to stage another protest, mounting barricades to deny free vehicular and pedestrian movements in and out of the institution.

The protesting staff, whose grouse centered around allegations of under payment, fraud and highhandedness by the polytechnic’s authorities led by the Rector, Dr. Taiwo Akande, had earlier embarked on three protests under three weeks in order to press their demand for the removal of the rector.

Accusing the rector of overloading the nominal roll of the staff with

names of retirees and the deceased since 2014, leading to the embezzlement of a total of N250 million, the protesters called for her immediate arrest and prosecution.

However, describing the allegations as ‘baseless and reckless’, the rector said all the issues raised by the unions are not new, noting that: “These were issues the Federal Government set up a Presidential Panel over.

She noted further that, “That I am still here with all their allegations shows that there are no substance in them. The National Board for Technical Education and the Federal Ministry of Education are looking into the migration issue because it is not a local issue. It affects all federal polytechnics,” the rector said.

The union leaders, led by the Chairmen of the Academic Staff Union of Polytechnics (ASUP), Mr. Tunji Owoeye and the Senior Staff Union of Polytechnics (SSANIP), Dr. Oluwole Ayeni, had mobilised their members to shut down the institution yet again.

The SSANIP chairman accused the rector of working against the interest of the workers by ‘short-paying’ them even while they (the management) were taking their own regular pay.

Ayeni added the Rector had stood her ground against the payment of cooperative deductions to workers amounting to N131 million, as well as paying the workers’ arrears of promotions for 2014, 2015 and 2016 respectively, despite ceaseless demands.

THURSDAY, OCTOBER 27, 2016 NEW TELEGRAPH

Fayose’s two years, a setback for Ekiti, says APC Sulaiman Salawudeen Ado-Ekiti

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he All Progressives Congress (APC) in Ekiti State has said that the two years administration of Governor Ayodele Fayose in the state have brought what it called ‘reverses’ to the state and its people.

According to a statement issued by the party’s state Publicity Secretary, Taiwo Olatunbosun, in Ado-Ekiti, the state capital, the APC said the “partitioning of roads built by Fayemi and erecting electricity poles he bought in local governments should not be regarded as projects that Fayose would be celebrating as achievements.”

The party added that, “instead of acting as an agent of change for development, the governor had in two years reversed the fortunes attained by his predecessor in four years.”

Reviewing the governor’s activities in the last two years in the statement, Olatubosun said “it was regrettable Fayose came on board through alleged election fraud and has been using that fraud to sustain himself in power.”

Condemning the governor for allegedly relying on lies and deceits to run his government, Olatunbosun said: “Governor Fayose since assumption of office has reeled out different figures, including N86 billion, N78 billion, N35 billion, N68 billion and N72 billion at different times, as Ekiti debts owed by former Governor Kayode Fayemi, to deceive the people on actual debts of the state.

Lagos to review pension of retired permanent secretaries

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agos State Governor, Mr. Akinwunmi Ambode, yesterday said his administration would initiate a process of an upward review of pension of retired Permanent Secretaries in the state, just as he expressed the readiness of the State government to commence massive training of civil servants starting from 2017.

Governor Ambode, who spoke at Lagos House in Alausa, Ikeja when he received the report of the 2016 Summit of Association of Lagos State Retired Heads of Service and Permanent Secretaries, said the decision to review the pension was borne out of the need to reward appropriately those who have served the state meritoriously for several years.

While alluding to the years of experience of the retired permanent

secretaries, the governor said his administration would tap into the wealth of experience of the members of the association and use it to help the civil service and also develop the state.

He said: “We will collaborate together more vigorously and tap into your wealth of knowledge. We want to start this from next year for capacity building for the largest civil service in Nigeria, the Lagos civil service. We will also use it part of our own development plan and imbibe this knowledge into the existing public service.”

Speaking on the review of pension of members of the association, Governor Ambode said the struggle for dignity of labour for civil servants had been on for a while, but that it was time for it to be actualized.

News|SOUTH-EAST

THURSDAY, oCTOBER 27, 2016 NEW TELEGRAPH

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IPOB: Count us out of All Igbo Summit Charles Onyekwere ENUGU

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he Indigenous People of Biafra (IPOB) and the Directorate of State (DOS) have disassociated themselves from the planed All Igbo Summit scheduled to hold in Uturu, Abia State next month.

The group in a statement signed by its spokesman, Emma Powerful, alleged that the planned summit is being put up by President Muhammadu Buhari to hoodwink the unwary, and for this reason, IPOB should not be mentioned in the summit in any way.

The organisation condemned the inclusion of IPOB’s e-mail address as one of those that are part of the forthcoming pro-

gramme.

“The group of so-called Igbo Leaders who are going about bandying the noble name of the great IPOB in their emails to each other, as they prepare for their Aso Rock-sponsored Igbo summit, are hereby warned to desist forthwith from including IPOB in their emails. We are not part of and cannot be part of the fraudulent so called All Igbo Summit scheduled to hold next month at Uturu, Abia State.

“The group of ex-this and ex-that who had earlier planned to host President Buhari in our region, until they were told that such mindless scheme could only lead to bloodshed,have now resorted to telling everybody that they are planning our future at the so called Igbo summit.

FUNAI to establish Agric Faculty, hosts summit

Uchenna Inya ABAKALIKI

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he Federal University, Ndufu-Alike, Ikwo (FUNAI) Ebonyi State, is to establish a faculty of Agriculture next month to assist the country use agriculture in diversifying the economy.

Vice Chancellor of the university, Prof. Chinedum Nwajiuba, disclosed this during a three-day agricultural conference organised

in collaboration with the Nigerian Environmental Study Action Team (NEST).

He noted that establishing the faculty was its way of contributing its quota to agricultural development by training intellectuals who will translate agricultural theories into practice.

According to him, the university has recruited the best academics to effectively propagate the objectives of inaugurating the faculty.

Igbo leaders chided for abandoning Ojukwu’s legacies Okegwo Kenechukwu ONITSHA

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eader of the Movement for the Actualisation of the Sovereign State of Biafra (MASSOB), Uchenna Madu, has said that his consistent attack on Igbo leaders was because some of them abdicate their responsibilities as leaders.

Madu, who stated this while fielding questions from newsmen in Oba, Idemili South Local Government Area of Anambra State, said he was not actually attacking Igbo leaders but was reminding them of their responsibilities.

“You cannot lead people

or people looking up to you as a leader without positive performance that will convince the people that you are truly their leader. I am raising this alarm because of the total neglect and abandonment of the legacies of Dim Chukwuemeka Odimegwu Ojukwu.

“Our so called leaders who have in one way or the other enriched themselves or catapulted themselves to a higher position through the instrumentality of Ojukwu have neglected this man who represents the symbol of Igbo leadership. Even though he is late, he still remains the meeting point of Igbo political and economic emancipation,” he said.

Imo Deputy Governor, Prince Eze Madumere (middle), with members of the Committee on Illegal Child Adoption and Trafficking headed by Bishop Stanford Nwogi, during their visit to the governor

Igbo group petitions Senate over imbalance in federal appointments Chukwu David

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socio-cultural group, Ndigbo Bu-Otu Union (NBOU), an arm of the Ohanaeze Youth Vanguard, has petitioned the Senate President, Dr. Bukola Saraki, alleging exclusion of the South-East zone in major national appointments, with particular reference to the Nigerian Customs Service.

The group raised the alarm in a letter dated October 17th, 2016, jointly signed by the Director-General and Secretary, Igwekala Ugomaduefule and Chief Samuel Eze respectively, which was addressed to the President of the Senate, and obtained by our correspondent.

overnor Ifeanyi Ugwuanyi of Enugu State has formally inaugurated the board of Parklane Specialist Hospital, with Professor Hyacinth Ezeonah, as its chairman.

Performing the ceremony, which took place at the Government House, Enugu, Ugwuanyi, who was represented by his deputy, Mrs. Cecilia Ezeilo, said

that his administration will continue to provide quality health care services to the people.

The board’s inauguration, he said, is consistent therefore with his desire to positively transform the health sector, adding that he is optimistic that the members would use their wealth of experience to achieve the administration’s lofty objectives in

“Reliable information at our disposal and our investigation reveal that the Assistant-Comptroller General (ACG), who is parading himself as representing the South-East zone is indeed from Delta State in the South-South geo-political zone. The only officer from the South-East with the rank of Deputy Comptroller-General (DCG), one Mr. Ukaigwe, has proceeded on retirement leave.”

The group frowned at a situation where other geopolitical zones have two or three Assistant ComptrollerGenerals (ACG), with SouthEast having none.

“We warn and advice the Customs authority to take note and ensure that only a Customs officer of South-

East extraction should be appointed to replace DCC Ukaigwe after his retirement.”

While calling on the authorities of the Nigerian Customs Service to address the imbalance, the Igbo leaders, however, urged the Federal Government and its agencies to uphold the principle of federal character in its appointments as enshrined in the Constitution of the Federal Republic of Nigeria.

“We reject a situation where appointments are one-sided and biased. Appointments must be based on merit and federal character.

The South-East has qualified, suitable and intelligent personnel for any position and we wonder why the zone is sidelined,” it stated.

Umahi to LG chairmen: Protect amenities in your areas Uchenna Inya ABAKALIKI

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bonyi State Governor, Chief Dave Umahi, yesterday urged local government caretaker committee chairmen in the state to ensure that government amenities in their areas are protected.

He gave the charge while inaugurating the implementation committee on Sustainable De-

Ugwuanyi inaugurates Parklane Specialist Hospital board

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It condemned what it described as the continued exclusion of the people of South-East from key federal government positions, lamenting that the zone is blessed with qualified eminent persons to fill such vacancies.

The group particularly decried the alleged marginalisation of the Igbo geo-political region in the Nigeria Customs Service.

Part of the letter reads: “By the Customs Act, every geo-political zone of the country must have one serving deputy Comptroller-General (DCC). Presently, the entire South-East zone has no Assistant Comptroller-General who is supposed to be elevated to the position of a Deputy Comptroller- General when such a vacancy exists.

health care.

Chairman of the board, Ezeonahdescribed their appointment as a call to duty, and assured that he was, along with his colleagues, determined to meet the public’s expectations through hardwork, training of health personal, research and the provision of quality health care services.

velopment Goals (SDG) projects and the Steering Committee for the proposed 198-kilometre ring road in the state.

He warned that the state government will not be happy to see government amenities vandalised in any local government area in the state.

He directed the two committees to work assiduously to ensure that the rural electrification projects embarked upon by his administration in six local government ar-

eas in the state is ready for inauguration on 15th November.

He also ordered that those of the remaining seven local government areas be ready for inauguration on 30th November, 2016.

“Through the SDG, we have embarked on the implementation of a number of projects in six local government areas but very significant among them is the rural electrification project, especially street light.

I am directing that that

job must be inaugurated by 15th of November. So you have to write it down and the other job for the remaining seven councils must be ready by 30th of November,” he said.

He expressed happiness over the cleanliness of Abakaliki, the state capital, saying the city would be made more beautiful during Christmas.

He disclosed that the African Development Bank (ADB) has indicated interest to fund the Abakaliki Ring Road project.

APGA denies holding NWC meeting

T

he National Publicity Secretary, All Progressives Grand Alliance (APGA), Mr. Ifeatu Obiokoye, has said that the party never held its National Working Committee (NWC) meeting, as claimed by the Vice-Chairman, South-East zone, Mr. Nwabueze Okafor.

Obiokoye, who stated

this via a statement he issued yesterday in Abuja, said no such meeting held anywhere.

Okafor said on Monday that APGA’s NWC held a meeting under his chairmanship, to ratify the purported suspension of the National Chairman of the party, Dr. Victor Oye. “APGA wishes to assure members and well-wishers

of the great party that no such meeting of APGA NWC was ever held at any time or in any place where such decision was ever taken.

“Besides, Okafor as a zonal vice-chairman of the party does not have the constitutional powers to either convene or preside over a meeting of the NWC,” Obiokoye said.

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News|SOUTH-SOUTH

THURSDAY, oCTOBER 27, 2016 NEW TELEGRAPH

Murder: Ex-Rivers LG boss brought to court in stretcher Emmanuel Masha Port Harcourt

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ormer Chairman of Asari-Toru Local Government Area of Rivers State, Ojukaye Flag-Amachree, was brought to the state high court yesterday on a stretcher to face murder charges amid heavy security within and outside the court premises.

He was remanded at

66.1m

the Port Harcourt prison after he was arraigned few months ago, and several warrants to the prison officials to bring him to court did not yield fruit until yesterday.

During the proceedings, Flag-Amachree, who was re-arraigned on a four-count-charge of attempted murder of one Ipalibo Jackson, on April 11, 2015, was motionless on the stretcher.

He did not take any plea,

The estimated total population of Western Asia in 1960.

Source: Un.org

and did not utter a word throughout the period of the proceedings.

His counsel, Emenike Ebete, urged the court to discontinue with the charges and adjourn the matter to allow the accused person recover and respond to the charges levelled against him.

Also yesterday, Justice Adama Iyayi-Lamikanra, the state chief judge, who presided over the case when the accused was arraigned,

187,155

The total number of active fixed wired/wireless lines of Nigeria in December 2015.

Source: Ncc.gov.ng

withdrew from the case.

She cited several petitions to the National Judicial Council (NJC) by the accused person against her personality, which the council was investigating, explaining that in the interest of justice, she would reassign the case to another judge.

Iyayi-Laminkara, however, dismissed the bail application of Flag-Amachree and ordered that he should be remanded

0.54%

The capital importation percentage share of Trading of Nigeria in 2008.

Source: National Bureau of Statistics

in prison until November 17, 2016 when the case will come up.

Counsel for Flag-Amachree, Emenike Ebete, who later spoke to reporters shortly after court proceedings said: “He was stretchered to the court today. You know, we applied that the day for the taking plea be deferred for another date to be taken and that another date would be proper to take the plea.

“The prosecution coun-

Wike: We’ve spent over N90bn on roads Emmanuel Masha Port Harcourt

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ivers State Governor, Nyesom Ezenwo Wike, has announced that under his watch, more than N90 Billion has been spent on road infrastructure in a bid to develop the state’s economy.

Wike, who stated this while declaring open the West Africa Architects Fair (WAAF 2016) in Port Harcourt, yesterday, noted that the sum was used in completing 80 roads, as well as bridges and jetties.

Wike said: “On infrastructure, we have put over N90billion into construc-

Women from Luawii community in Khana Local Government Area of Rivers State protesting at the entrance of the Government House over alleged unlawful killing of some of their youths and husband by a traditional ruler, in Port Harcourt …yesterday PHOTO: NAN

Philip Nyam Abuja

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he House of Representatives yesterday invited the Inspector-General of Police, Ibrahim Idris, to appear before its Joint Committee on Police Affairs and Human Rights over the recent killings in Bayelsa.

The committees would also investigate the circumstances leading to the killings, and steps taken to prevent such killings in the future and commemorate with the victims.

The resolutions followed a motion under matters of urgent public importance sponsored by Hon. Douye Diri (PDP-Bay-

ASABA

T

he people of Ogbeowele Quarters in Ogbeowele, Oshimili North Local Government Area of Delta State, have prepared grounds to sue Governor Ifeanyi Okowa for marking more than 8,000 houses for demolition on their land.

To be joined in the suit are his Commissioner for Lands and Survey, Urban and Regional Development, Chief Dan Okenyi

tion, rehabilitation and reconstruction of roads, bridges and jetties.

“This money has effectively delivered over 80 roads, while work is ongoing on the construction of about 35 new roads, spread across the three senatorial districts of the state.

“Most importantly, in order to derive maximum value for money spent, we have insulated our infrastructure development and delivery master plan from political considerations by ensuring that the designing, construction and supervision of all our roads are handled by reputable professionals and construction companies.”

Group seeks Wike’s intervention in dispute between Total, host community

Reps summon IGP over Bayelsa killings elsa), which was unanimously adopted.

Leading debate on the motion, Diri said the police had tried in their own way to keep the society safe from criminals.

He expressed concern that while carrying out their constitutional role in Bayelsa State, Ekeki community in Yenagoa Local Government, the police was alleged to be engaged in extra-judicial killings.

“In the last two weeks, the Nigerian Police Bayelsa State Command/JTF had shot and killed four innocent Nigerians, including one Innocent Kokorifa, 17 year old.

“Others are Izu Joseph, a footballer with the Shooting Stars Football Club of Ibadan, Inyan, a 30-yearold man and Godgift Oduku, a five-year-old girl.

“Nigerian Police is a creation of law, which principal function is to protect and ensure the well-being of the citizens and visitors who are within the territorial jurisdiction of Nigeria.

“While it is the duty of the police to maintain civil law in our society, it is expected that such function is to be carried out with utmost care and respect for human life.

Diri further expressed

worry that the trend, if not checked, may lead to a breakdown of the law and order in a situation where people will be forced to defend themselves from attacks.

According to him, people would be forced to defend themselves from attacks from the very police who have been paid with tax payers’ money to protect them.

Supporting the motion, Hon. Ossai Ossai (PDP-Delta), said the nation in recent years, had witnessed series of killings, adding that urgent steps needed to be taken to address the menace.

Victims of demolition head to court in Delta Dominic Adewole

sel opposed it and the court overruled me and they read the charge to the accused person on stretcher and unconscious.

“The man was unconscious; the man did not even know what was read to him.

We made this point clear that before you can invoke the provision of Section 220 of the Rivers State Law, the person must be conscious; he must know that the charge has been read to him.

and Chief Frank Omare, the chairman of the Demolition Committee.

The people have maintained at different fora that the state did not at any time pay compensation for the acquisition of the controversial land.

Omare, a former Commissioner for Environment, now the Governor’s Special Adviser, Special Programmes, has marked private homes, schools, churches, estates and cooperative buildings, including the NUT House, for demoli-

tion within seven days.

Also marked were ancestral homes and shrines, belonging to the original owners, the Okonkwo/ Ezechie family, with over 25,000 persons, including landlords, landladies and their children, tenants and their friends and relatives, would be rendered homeless during the exercise.

The demolition, billed to take off from the land adjacent the budding Ababa International Airport, behind the NNPC Mega Station, along the popular

Asaba-Onitsha Expressway, would affect civil servants, retirees, lawyers, journalists, traders and pastors, proprietors of schools, who are indigenes and non-indigenes of the state.

But a statement titled; Re:Regularisation of Core Area IIB (Okpanam), dated October 17, co-signed by the Secretary-General, Ogbeowele Quarters, Mr. Sunday Ogbogu and one Nwanze Mordi, addressed to the landlords, said the community has resolved to sue the state government.

Emmanuel Masha Port Harcourt

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group, the Media Initiative Against Injustice, Violence and Corruption (MIIVOC) has appealed to the Rivers State Governor, Nyesom Wike, to intervene and resolve the dispute between Egi community in Ogba Egbema Ndoni Local Government Area of the state and Total Oil Company.

The group said Wike’s intervention would help create a lasting peace in the community, rather than allowing the situation to deteriorate.

Executive Director, MIIVOC, Dr. Walter Duru, who said this in a statement, warned that the lingering disagreement between the two parties could worsen the already threatened security situation in the area.

Duru, who is the chairman, Board of the Freedom of Information Coalition, Nigeria, and a member of the Federal Government’s Steering Committee on the Open Government Partnership, said that since moves by other stakeholders to resolve the matter has not been fruitful, Wike should urgently act.

A’Ibom Assembly approves 2016 budget for council areas Tony Anichebe Uyo

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kwa Ibom State House of Assembly has ratified the 2016 budget estimates of the 31 local government areas of the state.

A total budget of N95.75 billion was approved by the House for the councils.

A breakdown of the budget, which takes effect from January 1, 2016, shows a total recurrent revenue of N88.472 billion and a total recurrent expenditure of N46.980

billion as well as a capital receipt/expenditure of N95.758.452 billion.

The House approved the budget yesterday following the submission of the report by the House Committee on Appropriations and Finance on the 2016 budget of local government councils.

Submitting his report, Chairman of the committee, Hon. Usoro Akpanusoh, said the committee engaged relevant stakeholders, including the Ministry of Finance, Ministry of Local Government and Chieftaincy Affairs.

News|NORTH

THURSDAY, OCTOBER 27, 2016 NEW TELEGRAPH

Lawmaker raises the alarm over spread of HIV virus in homes

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member of the Bauchi State House of Assembly, Hon. Maryam Begel, yesterday said investigations conducted have revealed that the HIV virus is spreading faster in matrimonial homes in most northern states of the country than outside the homes.

Begel, representing Dass Constituency, told the News Agency of Nigeria (NAN) in Bauchi that it appeared precautionary measures were taken by partners only when meeting outside matrimonial homes, than when at home.

“We did an investigation and discovered that HIV virus is spreading faster in matrimonial homes than outside.

“This is because most males take precautionary measures when they sleep

with outsiders, but hardly take such measures when they meet with their wives.

“This is especially the case in settings where polygamy is allowed and you find a husband infecting some or all of his wives with the deadly virus,” she said.

Begel, who is also the Chairperson, Committee on Women Affairs, Bauchi House of Assembly, described the development as worrisome.

Meanwhile, the law-

maker said she would work towards reviving the bill on “Compulsory HIV Test before marriage,” initiated by a former member of the seventh Bauchi House of Assembly, but was scuttled due to outside pressure.

Begel, who once served as the ‘Child Protection Officer’ with an international non-governmental organisation, ‘Save The Children’ (UK), said passing the bill into law was long overdue to safeguard the health of the people, especially wom-

en and children.

NAN recalls that the bill, sponsored in 2012 by Hon. Ilyasu Zwall, had sought to make the screening of HIV by partners, compulsory, before marriage.

It recommended that any person that contravened the provision of the law be liable, upon conviction, to a fine of N160, 000 or punishment for not less than five years, or both.

In case of corporate organisations, it recommended a fine of N500, 000 or the sealing of the hospi-

L-R: Kaduna State Governor, Nasir El-Rufai; Representative of the Commissioner for Agriculture and Natural Resources, Dr Kashim Abdulkadiri and Executive Director, Institute for Agriculture Research, Ahmadu Bello University, Zaria, Prof Ibrahim Abubakar, at the inauguration of PreSeason Training Workshop for Farmers on irrigated wheat production processing and utilisation in Kaduna …yesterday.

PHOTO: NAN

$171.04m The total amount of the ICT sector of the Nigeria Stock Exchange for 2015 Q4.

Source: Nigerian Stock Exchange

6%

The percentage of the population of women above 60 years of Iraq in 2012.

Source: Un.org

Niger, Chevron, others partner to improve rice production Dan Atori MINNA

A

s part of plans to improve rice cultivation and production in the 25 local government areas of Niger State, the state government yesterday said it was partnering with oil giant, Chevron, and other private organisations, to actualise the dream.

The programme has already brought on board 200 private extension agents,

tal or diagnostic centre for a specified period, or both.

NAN, however, recalled that when the bill was referred to the then House Committee on Health, nothing was heard about it again.

The sponsor of the bill, Zwall, then Chairman, House Committee on Security, told NAN that pressure from some quarters against compulsory HIV test by couples before marriage, made the bill to be frustrated.

all of whom are graduates and have acquired 300 units of small scale equipment, including power tillers and threshers.

Chevron and its affiliates under the arrangement will provide technical knowhow and capacity building for fresh graduates across the local government areas to attract them to the farms and the use of modern method of rice cultivation and production.

Apart from reducing the massive unemployment fac-

ing graduates in the state, the partnership would also “enhance the performance of the agricultural sector in the state to meet the food and employment needs of the people of the state and the country as a whole.”

Speaking at the launch of the programme in Minna, Niger State Governor, Abubakar Sani Bello, expressed delight that the oil firm and its partners had chosen the state to pilot the programme, saying that the decision was not unconnected with the policy of the administration that has made youth employment one of its priority projects.

NMA tasks Buhari, lawmakers on National Health Act Musa Pam Jos

P

resident of the Nigeria Medical Association (NMA), Dr. Mike Ogirima, has urged the National Assembly to put pressure on President Muhammadu Buhari, to urgently implement the National Health Act passed into law since 2014.

The NMA president spoke in Jos through the state chapter Chairman of the association, Dr. Men-

shak Daniel, during a peaceful procession to the state House of Assembly complex in Jos, Plateau State.

Menshak, who read NMA President’s letter to the lawmakers, said when implemented, the National Health Act is capable of turning around the country’s health care system.

“We wish to remind you that the National Health Act was signed into law since 2014, and as at today, there is no concrete structure on ground to start its implementation.

43

Nasarawa pays N4.3bn counterpart fund to UBEC Cheke Emmanuel LAFIA

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asarawa State government yesterday said it has paid N4.3 billion as its share of the state’s counterpart fund from 2013 to 2016 to the Universal Basic Education Commission (UBEC) in Abuja.

Executive Secretary, Nasarawa State Universal Basic Education Board (NUBEB), Alhaji Yakubu Ahmed Ubangari, disclosed this when he played host to members of the Correspondent’s Chapel of the Nigeria Union of Journalists (NUJ), Nasarawa State council, yesterday in his office in Lafia, the state capital.

He said the board would embark on massive building of schools across the state after accessing the bulk of the funds from UBEC, Abuja.

JAMB approves 1,000 applications for Gusau Federal University Idris Salisu Gusau

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he Joint Admission and Matriculations Board (JAMB) has approved 1,000 applications from prospective students to study for degree programmes in various fields at the Federal University, Gusau, for the 2016/2017 academic session.

This was made known by the Vice-Chancellor of the university, Prof. Magaji Garba, while fielding questions from journalists in his office.

According to him, in the 2016/2017 academic year,atotalof 2,500candidatesapplied through the Joint Admission and Matriculations Board into the university to study various degree courses.

EFCC quizzes Kebbi govt officials over N1.2bn fraud Gombe to establish journalism institute, others Abubakar Abdul BIRNIN KEBBI

O

fficials of the Kebbi State government have been quizzed by operatives of the Economic and Financial Crimes Commission (EFCC).

New Telegraph reliably gathered that some of the officials were arrested in connection with the N1.2 billion that was missing at the cabinet office over the Arugungu Fishing Festival contract.

A source in the state said the EFCC officials were invited to investigate the miss-

ing money and to bring sanity into the system.

Speaking on the issue, Secretary to the State Government (SSG), Alhaji Umar Babale, denied the coming of the EFCC into the state.

He spoke yesterday while fielding questions from newsmen in his office. He said: “To the best of my knowledge and in my capacity as the SSG, I am not aware of the presence of the EFCC in the state.

“If EFCC visited Kebbi State, I am supposed to be in the know, people are just carrying rumours around, none of the government of-

ficials were picked, it was baseless and untrue,” he added.

But he reprimanded the 21 local governments’ directors of personnel and local government treasurers, who were accused of corruption, saying they would face the penalty of their action. He said fighting corruption was one of the priorities of the administration.

He also said that the ongoing staff verification exercise in the state was not aimed at witch-hunting anybody, but to restructure the local government system in the state.

Willie Danjuma GOMBE

G

ombe State Governor, Ibrahim Hassan Dankwambo, yesterday inaugurated five committees for the establishment of five new tertiary institutions in the state.

One of the proposed institutions to be sited in the state is Gombe State Institute of Journalism.

The others are the Gombe State University of Science and Technology, Gombe State College of Agriculture and Animal

Husbandry, Gombe State College of Accounting and Management Studies as well as the Gombe State Institute of Sports.

Inaugurating the committees yesterday, Governor Dankwambo, who was represented by his Deputy, Hon. Charles Iliya, said the aim of establishing the institutions was to expand access to tertiary education, provide science and technical education, produce agricultural extension workers, accounting and managerial staff, journalists in addition to developing sports in the state.

The Governor said:

“We aim to train our teeming youths to become good citizens of Gombe State and the nation at large.” All committees are expected to submit their reports within two weeks from the date of their appointments.

He expressed delight at the successful implementation of the recommendations of a committee he inaugurated at the ince ption of t h e a d m i n i s t r at i o n in 2011 that produced a blueprint that resulted in the improvement of the education sector in the state.

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WORLD \ NEWS

News

Why I turned down Buhari’s appointment – Bugaje Wale Elegbede

F

ormer National Secretary of the defunct Action Congress of Nigeria (ACN), Dr. Usman Bugaje, yesterday shed light on why he turned down his ambassadorial nomination by President Muhammadu Buhari.

Bugaje and a former Deputy Governor of Plateau State, Mrs. Pauline Tallen, who were among the 46 non-career ambassadors named by Presi-

dent Buhari, turned the offers.

In a post on Facebook yesterday, Bugaje said he rejected the offer because his hands were full.

The one-time Political Adviser to former Vice President, Alhaji Atiku Abubakar, wrote, “Regarding the published nomination for an ambassadorial posting, I have not spoken to the press and may not do so anytime soon.

“I thank those who think me fit for the job,

but I have so much in my hands already, especially the Arewa Research and Development Project (ARDP), which is the only broad platform in the North driving development.

“I have weighed the options and have decided to remain home and continue the struggle for development and good governance.

Thank you for the concern, support and prayers,” the former lawmaker wrote.

THURSDAY, OCTOBER 27, 2016 NEW TELEGRAPH

Unicef:145 child soldiers released in South Sudan

S

ome 145 child soldiers fighting for two rebel groups in South Sudan have been released, Unicef has announced. The children were recruited by the Cobra Faction and the SPLA In Opposition, two armed groups which have been fighting the government. They were freed in the eastern region of Pibor and “disarmed and provided with civilian clothes,” Unicef said in a state-

ment.

About 16,000 children are still in “armed groups”, it says. Unicef said it was the largest release of child fighters since last year but warned that children were still being recruited by various armed groups. Mahimbo Mdoe, Unicef ’s representative in South Sudan urged all parties to “end the recruitment and to release children who are currently serving in

their ranks”.

Child soldier case study: Silva, 11 years old: I have been fighting for more than two years.

I haven’t seen my mother and father since last summer. I’ve seen many people killed when I was on missions. I had an AK-47. It was heavy. I was fighting to protect my family and village. Now I want to go to school and learn. I don’t want to fight anymore, I was scared.

Witness: Ex-NIMASA boss spent N40m for 2-year rent Akeem Nafiu

A

n operative of the Economic and Financial Crimes Commission (EFCC), Orji Chukwuma, yesterday told Justice Ibrahim Buba of a Federal High Court in Lagos that the immediate past Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Patrick Akpobolokemi, paid N40 million to rent a house for two years on Banana Island in Lagos.

He spoke at the continuation of hearing in the trial of Akpobolokemi and five others over alleged N2.6 billion fraud.

While being led in

evidence by the EFCC’s lawyer, Rotimi Oyedepo, the witness informed the court that Akpolobokemi paid the rent in three tranches of N12 million, N14 million and N14 million for 2013 and 2014.

The witness also informed the court that the former Director-General also paid the sum of N38.5 million to Vision Motors, for the purchase of a Toyota Landcruiser bullet proof jeep.

The receipt issued for the purchase of the car was admitted as exhibit by the court.

He further informed the court that the accused, who was a former lecturer at the Niger Delta Univer-

sity, where he earned a little above N100, 000, has about N154 million in his account at Access Bank.

He said the account was opened for the payment of all his emoluments at NIMASA. Further hearing in the matter has been adjourned to November 26 and 29.

Akpobolokemi alongside, Ezekiel Agaba, Ekene Nwakuche, Governor Juan, Blockz and Stonz Limited and AlKenzo Logistics Limited, were arraigned before the court on December 4, 2015, for allegedly defrauding NIMASA to the tune of N2.6 billion between March and June 2014.

NDDC fails to account for 1,691 contracts Chukwu David Abuja

T

he Senate Committee on Public Accounts, yesterday, grilled the management of the Niger Delta Development Commission (NDDC) for failing to provide evidence of approvals for 1,691 contracts out of the entire 1,697 contracts awarded by the commission to registered contractors between 2014 and 2016.

This anomaly was unravelled by the Committee when it subjected the report of the Commission

to scrutiny, a development that thoroughly shocked the members of the apex parliament.

Consequently, the committee led by Senator Andy Uba (PDP, Anambra South), directed the commission to within seven days, furnish it with evidence of approval of all the contracts and relevant certificate of no objection from Bureau of Public Procurement (BPP).

Uba said, “this committee and by extension, the senate is not happy with this vague report before us particularly on contract award, date of award, level of execution, names of con-

tractors etc”.

Similarly, the commission was also queried by the committee for running 22 bank accounts before the implementation of Treasury Single Account (TSA) as against four banks approved for the commission by government then.

The committee said that the shoddy deal must be thoroughly investigated, directing the commission to furnish it with names of the banks upon which its secretariat would request for statement of account between the banks and the commission before the TSA exercise.

AD emergency NWC meeting ends in chaos

...as Police arrest two members Yekeen Nurudeen Abuja

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he Alliance for Democracy (AD) emergency National Working Committee meeting holding at Pinecrest Hotel, Abuja, yesterday ended in chaos, following the arrest of the National Legal Adviser, Barrister Kayinde Aworele and the National Organizing Sec-

retary, Abdallah Ibrahim by the Police.

According to a statement by the National Publicity Secretary of the party, Mrs. Olayinka Bola, the National Chairman of the party, Chief Joseph Avazi, had called for an emergency National Working Committee meeting to address party issues.

The statement said trouble started when the National Legal Adviser,

Aworele raised a motion that the meeting was illegal as the party’s constitutional procedure to call for a National Working Committee was not followed and no agenda was attached to the invitation.

He said some people were invited to the meeting who were not members of the NWC and demanded to know on what capacity they were invited to the emergency meeting.

About 16,000 children are still in armed groups

Clinton leading among young voters, Harvard poll

D

emocratic White House candidate Hillary Clinton is leading among likely voters aged 18 to 29, according to a Harvard University opinion poll released yesterday.

The former US secretary of state had the support of 49 percent of likely voters, ahead of Republican rival Donald Trump’s 28 percent support, a substantially wider lead than Democratic President Barack Obama had over Republican former

Massachusetts Governor Mitt Romney at the same point in 2012. National polls of voters of all ages also show Clinton leading, though by a substantially narrower margin.

Some 14 percent of respondents said they planned to vote for Libertarian Gary Johnson, with 5 percent supporting the Green Party’s Jill Stein and 11 percent still undecided. More than one in three self-described Johnson voters said they were likely to change

their minds before Election Day. A majority of respondents, 51 percent, described themselves as “fearful” about the future of America, with just 14 percent of the 2,150 respondents saying they believed the country was headed in the right direction. The sense of fearfulness was most predominant among white respondents, though 85 of black respondents said they believed they were “under attack” in modern American society.

UNESCO approves new anti-Israel resolution on Jerusalem

U

NESCO’s World Heritage Committee has approved a new resolution on the status of conservation of the Old City of Jerusalem. In yesterday’s secret ballot, the UN cultural body agreed to retain the walled area, home to key Muslim, Christian and Jewish holy sites, on the list of endangered world heritage.

It also criticised Israel for its continuous refusal to let the body’s experts access Jerusalem’s holy sites to determine their conservation status.

The document refers to the Jerusalem site only by its Arab name. Muslims refer to it as al-Haram alSharif, Arabic for the Noble Sanctuary, and it includes the al-Aqsa mosque and the golden Dome of the Rock.

It is the third holiest in Islam, after Mecca and Medina in Saudi Arabia.

Palestinian official Saeb Erekat said UNESCO’s vote aimed to reaffirm the importance of Jerusalem for Christianity, Judaism and Islam.

“It calls for respecting

the status quo of its religious sites, including the al-Aqsa Mosque Compound that continues to be threatened by the systematic incitement and provocative actions of the Israeli government and extremist Jewish groups,” Erekat said.

Magnitude 5.4 earthquake strikes central Italy, felt in Rome

A

5.4-magnitude earthquake struck central Italy yesterday; two months after a stronger quake killed almost 300 people and leveled small towns.

The United States Geological Survey initially gave its strength as 5.6, later revising it to 5.4, at a depth of 10 km (six miles). There were no immediate reports of dam-

age or injuries.

The quake struck near the border between the regions of Marche and Umbria, with the epicenter near the town of Castelsantangelo sul Nera. It could be felt in Rome, at about 1710 GMT. Italian Prime Minister Matteo Renzi said he was in contact with the civil protection agency.

45

THURSDAY, OCTOBER 27, 2016 NEW TELEGRAPH

Did you know?

Sport

That Eric Bailly has made more interceptions (30) in the English Premier League than any other Manchester United player this season.

Sport News Algeria clash: Eagles’ camp opens November 7

46

Wenger tasks Iwobi on goals Oluwaseun Bankole

A

Iwobi (right)

rsenal manager Arsene Wenger has charged Super Eagles striker, Alex Iwobi to work hard on his goal scoring after struggling in front of goals in recent matches.

Wenger commended his passing skills

but urged him to work harder as the 20-year old is yet to score for Arsenal this season after 11 matches.

“You can see that he is not a typical winger,” Wenger said after a post match conference.

“I think he can play in the number 10 role.

He turns the game forward, he passes the ball

through the lines very well, he has a final ball in him. I think he has it all in the locker to pass and give the final ball.

“What you want from him now is the finishing and that is still a little part that is missing in his game. He is too nervous at the moment when he has the possibility to finish.”

threaten to Rohr meets Conte, Falcons boycott AWCON Emenalo, Wenger S Falcons coach, Florence Omagbemi

Wants playing time for Mikel, Musa others

Emmanuel Tobi

S

uper Eagles Manager Gernot Rohr on Tuesday held discussions in London with some of his players and their managers as part of efforts in fostering a cordial relationship with the English clubs bosses.

Rohr who was among the 59,865 spectators that witnessed Arsenal’s 2-0 win over Reading at the Emirates Stadium on Tuesday night, met with manager Arsene Wenger and discussed on the Gunners attacking mid-

fielder Alex Iwobi.

The German-born coach who embarked on the trip with his personal funds, also on Wednesday met with Mikel Obi alongside Chelsea coach, Antonio Conte, and technical director Mike Emenalo on the lack of playing time for the Eagles skipper.

Rohr has also indicated interest in visiting Ahmed Musa at Leicester City, Watford’s Odion Ighalo and other Nigerianborn players who are drawn between playing for the Three Lions of England and the Super Eagles.

Rohr (left) and Wenger at Arsenal

uper Falcons may shun participation in the upcoming 10th Africa Women Cup of Nations in Cameroon from November 19 to December 3.

The title holders are pitched in Group B together with arch-rivals Ghana, Mali and newcomers Kenya.

Sources said the players were not happy that Nigeria Football Federation had not deemed it necessary to settle as promised the side’s outstanding qualifying matches, allowances and bonuses.

“The players are unhappy that to date the NFF has only paid N10,000 qualifying bonuses to each of the players to enable them to travel back to their respective homes after April’s successful qualifying match against the Teranga Lionesses of Senegal in Abuja.

“They want all the outstanding allowances paid forthwith or they will stay away from the upcoming Africa Women Cup of Nations in Cameroon.

“The players said they are ready to cooperate with the head coach, Florence Omagbemi, to successfully defend the African title but on condition that their arrears of bonuses are paid forthwith,” the unnamed source told supersport.com.

Worldrankings:MurrayreadytotoppleDjokovic A The Sport Team

ndy Murray insists his consistency on court is enough to overtake Novak Djokovic at the top of the rankings and finish the year as world number one The Serb currently

leads the way by 2,415 points, but after a year in which he won his second Wimbledon and Olympic titles, Murray is hot on Djokovic’s heels and could take top spot before next month’s

Adekunle Salami Group Sport Editor

Emmanuel Tobi Assistant Sport Editor

Ajibade Olusesan Sport Correspondent

Charles Ogundiya Sport Correspondent

© Daily Telegraph Publishing Company Limited

Murray

ATP World Tour Finals in London.

Should the 29-year-old win this week’s Erste Bank Open in Vienna, he will narrow the gap on 12-time major winner Djokovic by 500 points, before the game’s finest then travel to Paris next week for the final Masters 1000 event of the season.

“I was close, if not to finish number one a few years ago, around the US Open time. But to finish the year-end world number one would be my best chance,” Murray told Sky Sports.

“If you talk about getting to number one, it’s not about individual tournaments, it’s about a 12-month period and obvi-

ously you want to be consistent and get to the latter stages of as many tournaments as possible, which I’ve done the last few months and obviously I will try and do over the next few events if it’s possible.

Djokovic

46

SPORT NEWS

Algeria clash: Eagles’ camp opens November 7 To train in Abuja before heading to Uyo

Adeolu Johnson ABUJA

S

uper Eagles are expected to converge on Abuja on November 7 ahead of the World Cup qualifying match against Algeria billed for the Godswill Akpabio Stadium in Uyo, Akwa Ibom.

New Telegraph scooped that the team would train for four days before leaving for Uyo on Thursday as the Nigeria Football Federation wanted to sort all outstanding issues before moving the team to Uyo.

Etisalat U-15 School Cup excites Enugu fans

B

asking in the euphoria of the success of Rangers International, Enugu fans are savouring great excitement as the Etisalat U-15 School Cup football championship regional play-offs for the South-South and South-East zones berthed in the ‘Coal City.

After two successful regional play-offs in Ibadan, Oyo State and Ilorin, Kwara State respectively, the train headed for the popular Nnamdi Azikiwe Stadium, as schools battle for the two slots available for the national finals billed for November in Lagos.

In the opening game of the tournament, Holy Foundation Secondary School representing Ebonyi State lost 3-0 to their Anambra State counterpart, St. John’s Science and Technology College, Alor. The second match between Owerri City School representing Imo State and New Layout Secondary School, Enugu State team, ended in 1-1 draw.

The NFF leadership still planning to inspect the stadium twice before the match to see the condition of the pitch which Eagles Manager Gernot Rohr complained that if affected the team’s performance during the last Nations Cup qualifier against Tanzania.

The Algerians have already visited Uyo to inspect facilities.

Meanwhile, the Algerian main contingent will land in Uyo on November 10 for their crucial match as players and officials storm Nigeria aboard Air Algeria from Algiers.

Eagles captain, Mikel Obi

Toriola, Oshonaike in mixed doubles final

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Egypt opened their lead when Bode Abiodun lost 3-2 (8-11, 3-11, 8-11, 11-7, 11-8, 4-11) to Saleh Ahmed but Quadri returned to restore the parity when he defeated Assar.

The match lived up to the billing as the two biggest stars in Africa faced off. Assar raced to a two set lead when he defeated Quadri 13-11, 11-7 but the Nigerian stormed back to win the next three sets 11-5, 11-9, 13-11 to claim a 3-2 victory over his arch rival.

The last match did not turn out as expected for Nigeria as Toriola surrendered a two set lead to lose 3-2 (11-6, 11-9, 7-11, 4-11, 8-11) to El-Beiali.

Meanwhile, the duo of Toriola and Funke Oshonaike will face Assar and Dina Meshref in the final of Mixed doubles on Friday.

NLO Super 8: Papilo, My People FC in semis Charles Ogundiya

A resilient team effort was required from My People to overcome Bida Lions on Wednesday at the Agege Stadium.

Papilo and My People have recorded three points respectively, while Bida Lions have won no point from two games.

My People will be up against Papilo on Thursday, in a contest that will determine which team leads Group B.

Ambode’s wrestle force tourney LOC begins work

P

he Local Organising Committee of the A+A Intercontinental Wrestle Force Championship has visited Lagos Television to solicit for the support of the broadcast station.

The A+A Wrestle Force Championship, a competition put together to celebrate the achievements of Governor Akinwunmi Ambode since he assumed office, will hold at 14 centres in three Senatorial Districts of Lagos State from 4-18 December, 2016.

The LOC led by Chairman, Otunba Dengel Anifowoshe, were at the LTV corporate office in Ikeja where they were received by the management team led by Oba Adeoye, Director of Programmes on behalf of the General Manager, Mr. Deji Balogun.

Otunba Anifowoshe explained the important role LTV has been playing in information dissemination to the people of Lagos State, a reason it is imperative for the station to be carried along by the LOC in its bid to organise a befitting tournament for Governor Ambode.

L-R: Group Brand Communication Director, CWAY, Auscar Ikoro; Group Head, Retail/ SME, Heritage Bank, Obioma Emenike; The Torch Bearers: Zainab Yunusa of Mind Builder Schools, Elizabeth Opawole and Favour Ojo of Readignton School; Divisional Head, Retail/SME, Heritage Bank, Mrs. Ori Ogba; Divisional Corporate Communication Manager, Mrs. Olusola Longe-Okenimkpe and others, at the fag-off of Skoolimpics Road Walk in Lagos…yesterday.

T

apilo FC of Owerri and My People FC of Lagos, have booked their places in the semifinals of Bet9ja Nationwide League One Super 8.

My People defeated Bida Lions FC 3-1 to secure a semifinal spot, while Papilo having defeated the same team 2-1 on Tuesday had already booked a spot in the last four.

md_muyiwa@yahoo.com 08023525087 (sms only)

Between Dangote and Ubah

I

Nigeria settles for silver gypt defended their title in the Men’s Team event of the International Table Tennis Federation African Seniour Championship after beating Nigeria 3-2 in the final of the ongoing edition of the tournament in Agidir, Algeria on Wednesday.

In a repeat of what happened last time in Cairo, Egypt, Aruna Quadri won two matches which were not enough to beat the North Africans.

Quadri won Nigeria’s first match after beating El-Beiali Mohamed 3-0 (11-4, 11-6, 11-4) but Segun Toriola could not sustain that lead as he went down to a 3-0 (11-4, 11-2, 11-3) defeat to Egypt’s top star Omar Assar.

The Muyiwa Daniel Column

“A person may appear to be a fool, yet not actually be one. He or she might be guarding their wisdom carefully – David Tuffley”

African Table Tennis Champs:

Ajibade Olusesan

THURSDAY, OCTOBER 27, 2016 NEW TELEGRAPH

picked out this above quote after wading through two events that gave reason, recently. First was the Town Hall meeting of Lagos Governor, Akinwunmi Ambode, at the Molade Okoya-Thomas Sports Hall of the Teslim Balogun Stadium in Surulere and the second was the chitchat a group of us had at the 80th birthday celebrations of a Political icon-Prince Tajudeen Oluyole Olusi at the Eko Hotel on Victoria Island where my kid brother-now General manager of Lagos Television (LTV)-Deji Balogun-was the compere.

At Teslim, we gathered under the bust of “Thunder” and went memory lane, on his fiery shots when he performed for Pan Bank, Marine, and Lagos City Council (LCC). Olusi was a counselor at the famous “City Hall” on Lagos Island adjacent to the Holy Cross Catholic Cathedral and its Primary School. Olusi was reported to have been a fan of “Thunder” then.

With the group, Deji-who was a sports reporter-took notes as we reviewed Governor Ambode’s reaction to the physically challenged in sports where three months back at the Badagry event had directed Special Adviser on sports-Deji Tinubu-to create a corridor on the Bus Massive Transit (BRT) to ferry them to training facilities at Teslim, National Stadium and Rowe Park. Ambode in Surulere charged Tinubu again.

We reviewed how Olusi managed to get through the “pains” of “Thunder” seeking greener pastures in London playing for West Ham United. In those days of Colonial rule and later independence it was the government department teams that dotted the space of football in the country. And there existed “traditional and Tribal” teams.

In the North, Kano Pillars was backed to the hilt by the Dantata Clan, Garba Hamza and the most influential in business and commerce. The East had as product of the “Biafran War”, Enugu Rangers. The West responded with IICC Shooting Stars where Chief Lekan Salami, Nathaniel Idowu and Femi Olukanmi led a cream of indigenes to put together the image of the Yoruba through the club.

The formidable response from Lagos was from Stationery magnate-Israel Adebayo Adebajo-who resuscitated the club formed by Oluwole Phillips and christened it Stationery Stores. The Adebajo Babes took the nation by storm in between 1966 and 1969 by winning the Challenge Cup. Adebajo was undone. He had an Estate at his country home-Noforijain Epe area of Lagos where he planned to put in place the direct West Ham United grounds.

Later- a military administrator named Samuel Osaigbovo Ogbemudia-then a Major-began Bendel Insurance for the Binis to lay claim to an identity just like the Dankaro Brothers-Sunday and John- led the quartet that gave the Biroms a meaning in Mighty Jets of Jos. That had been the trait in private sector participation in changing the face of football just like the Banks and Insurance Institutions joined the fray with the Industrial sector at Ikeja, Lagos.

The import of our discussions at the discourse were the determination of Africa’s richest man- Aliko Dangote to buy out owners of EPL side-Arsenal and Ifeanyi Ubah-a Senator whose team is in the Nigeria Premier League and an extension of the Gabros Dream-in having a relationship with West Ham where an Academy will be set up followed by exchange of players. Good dreams that can be actualized but in these period of economic recession both men can put at least 20million Nigerians in employment through football.

How? Let both decide to put their money where their mouth is buying shares in Stores, IICC, Insurance, Rangers, Ranchers Bees, Kano Pillars, Jets, Bauchi Wunti, El-Kanemi, Sharks of Port Harcourt and a rejuvenated Calabar Rovers.

Apart from putting in place professionals to be on the board and protect funding at the Stock Market, the clubs will have player with proper contracts, Managers and coaching staff, medical facilities, psychologists, nutritionists, security, stadium staff and management who will run stadia spread in the zones on lease from state governments and a full complement of media.

These moves will not only return competition to the football arena in the country, it will ease the effects of recession and its attendant frustrations.

Think about this; Dangote, Ubah.

THURSDAY, OCTOBER 27, 2016 NEW TELEGRAPH

News

47

On Marble

“Life isn’t about finding yourself.

Life is about creating yourself.”

– George Bernard Shaw

Sanctity of Truth

Mike A. Wilkie Supreme Court judges fight back

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

THURSDAY, OCTOBER 27, 2016

}16

N150

APC, PDP-leaking twin Duplex “...they say if you don’t vote, you get the government you deserve, and if you do, you never get the results you expected.”

– E.A. Bucchianeri

I

s there really any difference between the ruling All Progressives Congress (APC) and the main opposition Peoples Democratic Party PDP? Are there any ideological differences between them? Ethically, can any of the duet claim superiority over the other?

The nippy answer to these questions is No. The only conspicuous dissimilarity is in their names; otherwise they are one and the same product of defective political system upon which the country is wrongly situated.

There is this twin duplex in an estate that had different tenants but one landlord. The duplex had similar faulty structural problem from its foundation but only one of the tenants raised alarm about the leaking roof, the other tenant just told his family to find a way of tolerating and managing the challenge since

by God’s grace they do not intend to stay there forever as they aim to build their own house..

God obviously heard their prayer and they got their own apartment through the low cost housing programme in the man’s office and they packed out to their own home. The other distraught tenant quickly asked to relocate to the vacated flat which in his own thinking has been without problem and the land lord obliged him. When he packed into the house it was dry season so the rain did not come immediately. The landlord before the rainy season repaired the flat he left and rented it out to a new tenant. When the rainy season came the man discovered his new flat was leaking just like the former.

He was naturally upset but chose to be careful not to shout as he waited for the new tenant who replaced him to originate the protest this time but he didn’t hear anything.

When he couldn’t bear it he decided to rain abuses publicly this time not on the landlord because he felt the landlord was nice to him by allowing him to change to a “better” place, his attack was directed at the old tenant who concealed the leakage in the building feigning that all was well and that caused him the entrapment.

Old neighbours who followed the whole drama of both old and new tenants and who over heard his curse on the out gone tenants advised him to face the reality that the structure of the duplex abnitio was fraught with danger. This story bears some resemblance with Nigeria and her democratic struggles, the three tenants are Nigerian politicians represented in the two main political parties, APC and the PDP and the duplex is Nigeria.

Since the final return of the country to a democratic system of government in 1999 the polity has been a sort of complex structure with a fundamental boo-boo from inception but rather than seek out the root of the problem, the political parties and politicians engage themselves in an endless blame shift leaving the problem to linger.

The on-going re-alignments in the polity today necessitated by interminable crunch in the two major political parties clearly

Political Musings IKE ABONYI igwebuike2001@yahoo.com 0802-402-4029 (sms only)

They are nothing but a gang of power grabbers underscores Dwight. D. Eisenhower’s view that “If a political party does not have its foundation in the determination to advance a cause that is right and that is moral, then it is not a political party; it is merely a conspiracy to seize power” It would be easy to find the two main political parties in the country today, the ruling APC and the opposition PDP in this Eisenhower’s statement. Through greed and avarice from its members these two political parties have rightly shown that indeed they are nothing but a gang of power grabbers.

As for the voting population that are desirous of stable democracy and good governance, nothing can be as frustrating as taking a rare bold step to throw away government in power through the ballot box for being unable to meet their craving only to realize shortly after that the government they brought in is no better.

But history is a witness that such displeasure in politics is not limited to third World countries as even in the United States of America similar occurrence perhaps forced the 32rd President of that country, Franklin Delano Roosevelt who held sway from 1933 to 1945, to declare that “An election cannot give a country a firm sense of direction if it has two or more national parties which merely have different names but are as alike in their principles and aims as peas in the same pod” Indeed given the occurrences in the country’s polity since May 29, 2015, when the APC dethroned the PDP as a ruling power, one can assert without fear of contradictions that both the ruling APC and the main opposition PDP are in content and character, in principles and objectives, as alike as peas in the same pod.

The more APC tries to extricate itself from this reality, and prove that it has different identity with PDP the more its similarities overwhelm it almost like identical twins difficult to identify if not in their names.

The entire political class appears to be in agreement that the existing two main political parties cannot successfully midwife, deliver and grow the nation’s democracy. Even former President Olusegun Obasanjo the greatest beneficiary of this return to civil rule who unfortunately failed to utilize his eight years tenure which was enough to lay a solid foundation, is already thinking of a new political platform because the existing ones are in

Buhari

his word not vibrant enough. According to the elder statesman “the two new political parties would be established before the end of 2017. He said politicians across the nation would engage in alignments and re-alignments for the creation of these two new political parties that would end

up very formidable” Why not? He may have realized like other political watchers that his new friend the APC are even worse than his rejected PDP. The bog foundation of the APC was such that it easily yielded to pressure at the slightest heat and could not even endure as much as the PDP whose foundation also left much to be desired.

The challenge now is that even with the failed experience of the two political parties thus far; feelers from political scuttlebutt still show worrisome signs that the gathering is about power grasping and not any determination to advance democracy.

People are not rearranging based on principles and ideology with the aim of righting the wrong, but driven by grievances of being short changed. This is a development that should worry every concerned rational mind in the land that desires for this country to move forward politically. The issue of corruption which has become a major obstacle to development may never be successfully tackled not until we get our politics right and we can’t get our politics right without a solid political party to midwife it.

The primary functions of political parties which include but not limited to selection of candidates, mobilization of voters, facilitation of governance and monitoring of opposition in government makes it imperative that our democracy cannot grow unless and until we inaugurate a solid political party. For such dream party to materialize, it must derive from the heart of the voters.

Barring any abrupt development, in the polity to change the direction of current affairs, Musing next would attempt to discuss the on-going political horse-trading already going on in the political space, who is going where and why. Till next week God bless Nigeria.

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