Wednesday, august 19, 2015 binder1

Insecurity: Tambuwal bans lodging in hotels without ID documents }43 The Mega City

Back to their old ways }17

Helicopter crash: NCAA audits airlines Wole Shadare

T

he Nigerian Civil Aviation Authority (NCAA) has ordered a comprehensive audit of all airlines in the country

in the aftermath of last week crashing of a Bristow helicopter and other ‘grave’ incidents that have occurred in the sector.

Six persons aboard the plane that plunged into the

Lagos lagoon died while divers rescued six others who were injured.

NCAA Director General, Capt. Muhtar Usman, in a statement yesterday in Lagos, ordered an im-

mediate commencement of the safety audit of all the airlines.

According to him, the exercise is in line with the authority's regulatory and oversight responsibilities.

He added that NCAA’s Aviation Safety Inspectors (ASI) would continue to intensify the routine ramp inspections.

He said the directive CONTINUED ON PAGE 4

Sanctity Of Truth

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

Wednesday, August 19, 2015

Fayemi

Vol. 2 No. 546

Kuru replaces }3 How Jonathan Chike-Obi as AMCON mismanaged Nigeria, by Fayemi managing director }10

/newtelegraph

Kuru

@newtelegraph1 www.newtelegraphonline.com

Man, 25, held with N77.2m in Abuja }8

N150

Giade

150 drown, killed fleeing Boko Haram

}2

L-R: Managing Director, New Telegraph Newspapers, Mrs. Funke Egbemode; Deputy Managing Director, NLNG Ltd., Alhaji Isa Inuwa and General Manager, External Relations, NLNG Ltd., Dr. Kudo Eresia-Eke, during a visit by New Telegraph to NLNG Abuja office...yesterday PHOTO: TIMOTHY IKUOMENISAN

Buhari probes sale of NITEL/MTEL }2

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News

WEDNESDAY, AUGUST 19, 2015 NEW TELEGRAPH

150 drown, killed fleeing Boko Haram S ome 150 people have died in a village in Yobe State while fleeing from Boko Haram gunmen who attacked the area.

A report yesterday by AFP quoted residents of the village as saying the victims either drowned in a river or were shot dead by the Islamic militants.

They said a group of militants who came to the village, Kukuwa-Gari, last Thursday on motorcycles and in a car opened fire on the residents, forcing many of them to flee for

their lives.

"They opened fire instantly, which forced residents to flee. They shot a number of people. Unfortunately, many residents who tried to flee plunged into the river, which is full from the rain. Many drowned.

"By our latest toll, we have 150 people either (shot dead) or drowned in the attack. The gunmen deliberately killed a fisherman who tried to save drowning residents of the village," a villager, Modu Balumi, said.

Balumi said the bodies of many of the drowned were picked out by locals several kilometres away.

News of the attack was slow to emerge because the militants have destroyed telecom masts around the village, which is about 50 kilometres from Damaturu, the state capital, since the insurgency began in 2009.

In his own account of the incident, another villager, Bukar Tijjani, said: "Most residents, particularly women and children, ran towards the river in

confusion.

"They were pursued by the gunmen who kept firing at them. In the frantic effort to escape they jumped into the river, which was full to the brim."

A local government official confirmed the attack, but put the death toll at around 50.

The ambush came during the region's peak rainy season, when most waterways in the North-East are swollen and can flow with dangerous speed.

The village was still

reeling from a raid by the suspected Boko Haram militants on July 31 when at least 10 people were killed by gunmen who burned homes, food silos and livestock.

The Gujba area of Yobe State, where Kukuwa-Gari village is located, has been hit hard by Boko Haram violence in the past, but had seen relative calm since troops reclaimed it in March.

In September 2013, scores of students of an agricultural college in the area were massacred

L-R: Special Adviser on Media to former Lagos State Governor, Mr. Hakeem Bello; former Governor, Mr. Babatunde Fashola; Chief Judge of Lagos State, Justice Olufunmilayo Atilade; former Lagos State Deputy Governor, Alhaja Lateefat Okunnu; a representative of the Senate President, Mr. Gbenga Makanjuola and a representative of the Ogun State governor, Mr. Bimbo Ashiru, at the launch of three books written by Bello and Dapo Adeniyi, in honour of Fashola in Lagos…yesterday.

PHOTO: GODWIN IREKHE.

Buhari probes sale of NITEL/MTEL Anule Emmanuel and Kunle Azeez

P

resident Muhammadu Buhari has ordered an investigation into the sale of the Nigerian Telecommunication (NITEL) and its subsidiary, Mobile Telecommunication Plc (MTEL).

The president yesterday directed full probe into the sale of the two firms to establish whether the country was not shortchanged in the entire process that led to their handover to a new core investor.

The Federal Government, in April, handed over NITEL/MTEL to its preferred bidder, the NATCOM Consortium, after five failed attempts in 14 years to privatise the companies.

Buhari, during a briefing on the state of affairs of the telecom sector from the Permanent Secretary of the Ministry of Communications Technology, Dr. Tunji Olaopa and other officials in Abuja, said although he was not opposed to the sale of the national communication

firm, there was the need to ensure that the country was not shortchanged in the process.

The president also directed the ministry to work harder to fully develop the revenue-generation potential of Nigeria's information technology sector.

He requested the officials to bring forward for his consideration and approval, all pending proposals for the development of the IT sector, which require the approval of the Federal Executive Council.

"Where you don’t need Exco’s approval and you are not in breach of the law and will not lose money, you can go ahead. Now that oil costs less and we are contending with its theft, we have to move to areas where we can realise revenue quickly,” the president said.

Buhari welcomed the plan by the ministry to use post offices nationwide for IT and financial transactions, especially in the rural communities, saying that he is happy to hear that “we are recovering the post offices from rats and rodents.”

The ministry’s presentation to the president dwelled on the potential of the IT sector which, Olaopa said, contributed 10 per cent of the country's Gross Domestic Product (GDP) but could grow to 20 per cent.

Speaking to State House correspondents after the meeting, Olaopa said Buhari was deeply concerned about the sale of NITEL/ MTEL. He said: "The president was concerned about the quality of service of telecom operators. The president is very concerned about the whole issue of privatisation that is hindering the investments in ICT infrastructure and that he will personally champion this.

"The president talked about the potentials of the ICT sector in generating employment. The president was concerned about the liquidation of NITEL. He is not opposed to its privatization, but he wants to know and he wants us to bring a memo on how the whole transaction was undertaken so that he would know whether Nigeria was

shortchanged."

Efforts to privatise NITEL/MTEL started in 2001 and, in the last 14 years of the exercise, it has witnessed twists and turns.

The strategic core investor sale of 51 per cent shareholding of NITEL to Investors International London Limited (IILL) in 2001 was revoked while another failed management contract was recorded with Pentascope in 2002.

In addition, the failed privatisation bids include the aborted Orascom Telecoms bid in 2005 and another strategic core investor sale through negotiated sale strategy to Transcorp, which was cancelled in 2009.

Also in 2011, another strategic core investor sale involved New Generation Communications Limited and Omen International with the two companies emerging as preferred and reserved bidders respectively fell through.

However, after a review of the chequered history of the privatisation transactions of NITEL, the NCP at its meeting of February 27, 2012, approved the pri-

vatisation of NITEL and MTEL through guided liquidation.

This culminated in a financial bid opening of December 3, 2014, where NATCOM Consortium won the bid to the tune of $252.25 million after its closest rival, the NETTAG Consortium, failed to post the bid bond, which was crucial to survive the technical evaluation test.

NATCON Consortium, led by Skye Bank Plc’s Chairman, Mr. Tunde Ayeni, finally acquired NITEL/MTEL in April, this year, having completed the payment of $252.251million cost of acquisition.

However, there have been reservations from some quarters concerning the amount the government sold the telecoms firms to NATCOM Consortium, which was considered grossly undervalued.

Some industry stakeholders also questioned what they described as ‘hasty conclusion of the deal’ at the twilight of former President Goodluck Jonathan's administration in April this year.

as they slept in their dormitories.

In February last year, dozens of students of a boarding secondary school in the main town of Buni Yadi were also killed in a gun attack on their hostels.

The jihadist militia, which has pledged allegiance to the Islamic State group, has waged a violent campaign for a separate Islamic homeland in the North-East, which has seen more than 15,000 deaths since 2009.

The military under President Muhammadu Buhari's predecessor, Goodluck Jonathan, was heavily criticised for poor handling of the insurgency and its failure to free more than 200 schoolgirls abducted from Chibok, Borno State, in April last year.

But as part of his efforts at tackling the insurgency, Buhari last week ordered the military to end the insurgency within three months.

Since May, the militants have stepped up their campaign with a wave of raids, bombings and suicide attacks, which have left more than 1,000 people dead in Nigeria alone.

Boko Haram also carried out deadly ambushes across Nigeria's borders and, in recent weeks, suicide bombers, many of them women, have staged several attacks in Nigeria, Cameroon and Chad.

A five-nation regional force of 8,700 troops from Nigeria and its neighbours has been set up to fight Boko Haram and is expected to deploy imminently.

Buhari told a national security gathering in Abuja on Monday that his administration would employ "at least an extra 10,000 police officers" and set up a federal anti-terrorism task force to crush the rebellion.

Chadian leader, Idriss Deby, declared on August 12 that efforts to combat Boko Haram had succeeded in "decapitating" the group and would be wrapped up "by the end of the year".

Deby told reporters in the capital, N'Djamena, that Boko Haram was no longer led by the fearsome jihadist commander, Abubakar Shekau and that his successor, whom he named as Mahamat Daoud, was open to talks.

But Shekau refuted the claim in an audio recording released on Sunday and authenticated by security analysts, dismissing the Chadian head of state as a "hypocrite" and a "tyrant".

News

NEW TELEGRAPH WEDNESDAY, AUGUST 19, 2015

3

Telcos dare NCC, fail to deactivate 37.79m lines Kunle Azeez

T

elecommunications operators in Nigeria have flouted the industry regulator’s directive asking them to de-activate 37.79 million unregistered Subscriber Identity Module (SIM) lines on their networks.

The Nigerian Communications Commission (NCC) had, December 2014, declared that about 45 per cent registered SIMs by telecoms companies in Nigeria were invalid.

The invalidity of such SIMs was on account of invalid portrait image only, invalid fingerprints only, invalid portrait image and fingerprints, and incorrect/ inaccurate demographic data such as name, address, and so on.

Following a meeting between Office of the National Security Adviser (NSA), Department of

State Service (DSS), the network operators and the NCC to examine the security threats posed by unregistered SIMs, the NCC gave a seven-day ultimatum starting from August 4 to GSM operators to deactivate unregistered SIMs with invalidity status.

The NCC also asked the operators to notify the affected subscribers before deactivation of their SIM cards so that they can go for a re-registration or regularisation of their SIM registration.

Speaking at a press conference in Lagos yesterday after a four-day monitoring exercise to examine operator’s compliance to the directive, the Head, Enforcement and Monitory Department of NCC, Mr. Idehen Efosa, said the operators had partially complied with the directive.

“Following our meeting of August 4, we gave

the directive, which means by August 11, they ought to have complied.

But our monitoring exercise has showed that the operators had not really complied,” he said.

Efosa said the enforcement team has surprisingly found a varying degree of compliance by the operators.

He said: “When we gave them the ultimatum, the directive was clear: to clean up their databases by deactivating the affected SIMs and two, call back these wrongly registered subscribers to register their SIMs. But we have noted that operators have failed to do this as directed.

“For instance, when we gave the directive, we sent 18.6 million numbers to MTN for revalidation, 7.4 million to Airtel, 2.33 million to Glo and 19.46 million to Etisalat.

“However, following our four days monitoring exercise which saw the enforcement team visiting each of the operators and looking into their system, we found that MTN had only removed just 1.6 million and put them on ‘receive only’ mode.

“These are the numbers that were not properly registered or those sold on the field without putting any details behind them. But there were a large number of

the affected subscribers on their network making calls.

“Airtel had only removed 2.3 million SIMs with facial images problem, which also means it has partially complied.

Globacom also removed only 3.5 million from the network, but it was also partially done. Etisalat barred 3.3 million SIMs also.”

He, however, said that the operators promised the NCC team that they would comply fully within 24 hours.

“Going forward, our enforcement unit shall visit all the operators to ask them to comply.

We have checked their

networks now and seen that they have not fully complied. By the time we come back the next time and they have not complied, we shall impose heavy sanction on erring operators online with the prescribed penalties as stated in Section 19 through Section 21 of the SIM Registration Regulations,” he said.

He noted that the commission’s resolution in ensuring the sanity of SIM registrations were part of the ongoing efforts by government to nip in the bud the incessant occurrences of threats via telecommunications networks and the danger they portend for psyche of the citizenry.

Enang to NBA: N’Assembly followed due process to pass 46 bills Tunde Oyesina ABUJA

F

ormer Chairman, Senate Committee on Rules and Business, Senator Ita Enang yesterday told the Nigerian Bar Association (NBA) that the seventh National Assembly adopted a 'special procedure' to make the passage of 46 bills possible in the last Senate.

Enang, a Senior Advocate of Nigeria (SAN), stated this in Abuja at a high level meeting on the review of the state of administration of justice in Nigeria, organised by the NBA. The meeting was aimed at seeking consensus among justice sector stakeholders on the process of enacting into law core justice sector bills passed by the 7th assembly.

Enang further explained that the special procedure allowed the lawmakers to pass all the bills since they (bills) had already gone through the first, second and third readings.

"At the tail end of the legislative term, both chambers adopted what we called the special procedure, that is, the procedure that will deem every bill which was passed by each of the chambers to have gone through first, second and third reading.

"We gave several notices about different bills, we agreed with the leader of the House and the Senate on the day that each of the chambers will take the bill.

Now the House took our bills and the Senate has to take the House bills," Enang added.

He, however, noted that the bills were brought to the floor of the Senate, thus giving the senators the opportunity to have gone through all the sections of the bills and objections made where necessary, before a motion was moved on June 3 when the 46 bills were passed According to him, "They were not just conceived on that day, they were not just circulated on that day; it was just what we called special procedure. In our standing order, order 1, when there is no provision for a particular matter you could adopt a special procedure and we adopted a special procedure that day."

Enang noted that all the bills that were passed and transmitted to Mr. President by this process had been duly passed by the 7th assembly He, however, challenged NBA to take seriously the effective date to challenge a bill that has been passed, if not assented to by the president.

"We have the problem of having passed a bill, it takes long for the bill to be assented, that is longer than the 30 days.

"We passed bill for nine universities, only University of Uyo was transmitted, all other universities were not. Therefore, NBA would have to look at the late transmission of the bills after 30 days of being passed by the National Assembly," he added.

Managing Director, Nigeria Ports Authority (NPA), Malam Habib Abdullahi (left) taking over from his predecessor, Alhaji Sanusi Lamido Ado Bayero, in Lagos…yesterday.

Buhari appoints Kuru AMCON managing director lDissolves management team Anule Emmanuel and Tony Chukwunyem

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resident Muhammadu Buhari yesterday approved the dissolution of the executive management team of the Asset Management Corporation of Nigeria (AMCON), naming Ahmed Lawan Kuru as the corporation’s new Managing Director.

Kuru takes over from Mustafa Chike-Obi, who is due to leave office next month.

The appointment was

contained in a statement made available to journalists by the Special Adviser on Media and Publicity to the President, Mr. Femi Adesina.

According to the statement, President Buhari also appointed Kola Ayeye, Eberechukwu Uneze and Aminu Ismail as the new executive directors of the corporation.

The appointments took effect Tuesday, August 18.

Until his appointment, Kuru was the Group Managing Director of Enterprise Bank Limited.

He started his bank-

ing career with the old Habib Bank in 1985 and rose through the ranks to become an Executive Director of Bank PHB (now Keystone Bank) in 2005.

Ayeye was an Executive Director in the defunct Mainstreet Bank Limited. He was also the Managing Director of National Bank of Nigeria.

Ismail, who was also an Executive Director at Enterprise Bank Limited, had earlier been the Regional Bank Head of the United Bank for Africa Plc. from where he moved to Fidelity Bank as Divi-

sional Head, Energy.

Uneze is an Executive Director, Centre for the Study of the Economies of Africa. He has over 10 years of experience in handling results-based development and public policy projects. His research interest cuts across Public Economics and Policy Analysis, Development Finance, Results-based Public Financial Management, and Outcome and Impact Evaluation.

In these areas, Ebere has published more than 25 articles and other publications.

News

4

WEDNESDAY, AUGUST 19, 2015 NEW TELEGRAPH

Fashola to FG: Don't joke with 2016 census figure lTinubu, Ambode absent at ex-governor’s books launch

Tony Okuyeme and Muritala Ayinla

F

ormer Governor of Lagos State, Mr. Babatunde Fashola, has tasked the Federal Government to handle the 2016 population census with care and all seriousness, if the nation's quest for development would not remain elusive.

The former governor described the falsification of census figure as the major hindrance to development.

Speaking at the presentation of three books written about his administration, Fashola said the onus is on Nigerians to get it right in 2016.

Fashola noted that the people who conducted the nation’s first census are now owing up that the figures were falsified.

The three books – "The Great Leap", "In Bold Print", both edited by Fashola’s media aide, Hakeem Bello, and "The Lagos Blow Down", jointly edited by Hakeem Bello and Dapo Adeniyi – were presented in Lagos yesterday.

He said: "I say this, be-

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cause data, in my view, is important. If the work of government is to provide services to people, its efficiency will be determined by its knowledge of how many people need service. And, therefore, without accurate census figures, it may seem that we are not determined to head on the path of development.

"The numbers have changed from 160 million to 170 million and sometimes we now hear of 180 million. But I recalled that during the last census exercise in 2006, we worked with the National Population Commission (NPC) then. When they returned a number over nine million, it was clear that it has become, Fela's words, 'government magic'. Because I recalled very clearly that for 11 nights and 11 days, we didn't sleep."

He said the entrenched practice of manipulating census figures in the country is impeding the nation’s economic growth and development.

"The population commission told us that they were going to enumerate households and the definition of a household is one family; husband, wife and children. At the end of the exercise, we enumerated 4.5 million households in Lagos. Yet, they returned with only nine million as Lagos population. It meant that all households in Lagos have only husband and wife, and no children,” the former governor said.

According to him, given the drama and the conflicting figures released by the census commission as Lagos population, there was need for the Federal Government to ensure that census figure in 2016 is not manipulated for any reason to enhance

effective planning.

Fashola added: "But that is a matter for us to take seriously and play our roles when the time come. Because when census come, some people will start going to their state of origin. Census is not about where you come from, but where you live. Because the aggregate here is the data that will be used to plan your life, that of your children and that of the next generation."

Meanwhile, former governor of Lagos State, Senator Bola Tinubu, Governor Akinwunmi Ambode failed to attend the books presentation.

Tinubu and Ambode’s absence at the event brought to the fore the

cold war between them and Fashola.

Also, the Oba of Lagos, Alhaji Rilwan Akiolu, and leaders of the All Progressives Congress (APC) were conspicuously absent at the book presentation.

The event was expected to attract 'who is who' in Lagos, top politicians and businessmen, among others.

The major faces at the event were the former military governor of Lagos State, Vice Admiral Ndubuisi Kanu (rtd); chairman of FATE Foundation, Mr. Fola Adeola; Chief Judge of Lagos State, Mrs. Olufunmilayo PhilipsAtilade; Lagos Publicity Secretary of the APC,

Mr. Joe Igbokwe; former governorship aspirant, Mr. Supo Sashore (SAN); onetime deputy governor of Lagos State, Alhaja Lateefat Okunnu; former Lagos Commissioner for Finance, Mr. Wale Edun; Deputy Chief of Staff to the Senate President, Mr. Gbenga Makanjuola and Senator Munirudeen Muse.

Speaking at the event, Adeola, a former Managing Director of Guaranty Trust Bank, lauded those that attended the books presentation.

“I believe everybody that came here today (Tuesday) considers Fashola as a friend, brother, cousin. I believe in fullness of time, everything evolves and dis-

solves, things come and go. Fashola, SAN and a former governor is now the only thing that will remain constant. The people who are here today are simply telling him that no matter what, they still remained his friend,” Adeola said.

Dignitaries at the event commended Fashola for the legacy he left behind as Lagos governor.

Fashola declined the request of journalists to speak with them after the event.

Igbokwe told journalists that there is no rift between Tinubu and Fashola. He described the reported personality clash as “figment of imagination of the purveyors.”

L-R: Commandant, Air Force Institute of Technology, Air Commodore Musibau Soladoye; Air Officer Commanding, Training Command, Air Vice Marshal Alkali Mamu and Executive Secretary, Tertiary Education Fund (Tetfund), Prof. Suleiman Bogoro, at the 44th Air Force Institute of Technology convocation lecture in Kaduna…yesterday.

PHOTO: NAN.

Helicopter crash: NCAA audits airlines CONTINUED FROM PAGE 1

was to forestall complacency among airline operators and ensure that they all continue to demonstrate absolute compliance to NCAA’s regulations.

In addition, Usman warned all pilots to take precautionary measures during all adverse weather conditions seriously by ensuring strict adherence to states’ weather minima and Standard Operating Procedures (SOP).

He, however, assured Nigerians that NCAA would continue to ensure intolerance for non-compliance to regulations.

He said airline operations in Nigeria would continue to be done according to the Standard and Recommended Practices (SARPs) thereby ensuring safe and secure operations.

Experts, however, have carpeted the regulatory body for public announcement of the audit when it should be a constant exercise of the NCAA. Former Managing Director of IRS Airlines, Yemi Dada, told New Telegraph that, that in itself was self-indicting, saying that the NCAA should not be announcing an audit if

it had been carrying out its oversight functions effectively.

He stated that it would make the travelling public to panic and suspect that the aviation regulatory body had fallen short in its oversight function.

“I believe that the announcement is not necessary. It could lead to panic.

However, we cannot blame the agency for doing its work. If you have been doing your work effectively and efficiently, there would not be any reason to make the announcement,” he said.

Aviation analyst,

Olumide Ohunayo, categorised audits into economic and technical, corroborating Dada that the announcement is not necessary if the agency has been alive to its responsibility.

Before now, there has been a clamour for the NCAA to carry out an economic audit on all the airlines in a bid to ensure that they are financially healthy.

Most of the airlines are virtually insolvent, as they owe major aviation agencies such as NCAA, the Federal Airports Authority of Nigeria (FAAN),

the Nigeria Airspace Management Agency (NAMA) over N3 billion in Ticket Sales Charges (TSC).

They also owe other service providers, oil marketers and the Assets Management Company of Nigeria (AMCOM) debts totalling over N300billion.

These huge debts have seriously affected the viability of virtually all of them, with most of them not lasting more than 10 years.

The biggest hitch of running airline business in Nigeria is the high interest rate charged by banks for credit facilities.

NEW TELEGRAPH wednesday, august 19, 2015

News

national

NNPC to submit weekly financial reports to Presidency Johnchuks Onuanyim Abuja

T

he Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Ibe Kachikwu, has pledged to make weekly reports to the Presidency on the dealings of the Corporation.

Also, the GMD, who spoke at the maiden Town Hall meeting with the staff of the Corporation in Abuja, promised a periodic publication of financial transactions of the Corporation, as he insisted that transparency must be the watchword of every staff.

The GMD, in a statement from the Group General Manager, Group Public Affairs Division, Ohi Alegbe, stated that the new NNPC of his dream is a Corporation anchored on the foundation of transparency.

He charged the staff to break away from the old culture and bring creative solutions to the numerous challenges facing the Corporation, stating that the with the kind of change he has in mind, the staff could not afford to continue with business as usual.

Also, he challenged the staff not to obey any directive from him or any superior officer that runs contrary to the rules, adding that President Muhammadu Buhari will not ask

him to do anything shady just as he himself would not ask any staff to carry out any unlawful duties.

He said, “I want transparency. Beginning from next month, I want to be able to publish what the company makes. I have told the President that as from next week I will be sending him weekly reports”.

Further on the culture of transparency, the GMD stated that it should begin with establishing the current financial status of the Corporation and that he would sign on auditors “to do a proper forensic audit to tell us where we are.”

He promised to revisit old processes that used to make for efficient operations, adding that staff should see themselves the drivers of the changes required to bring about the new NNPC. “You are the best consultants there are. While there may be need to refer certain issues to consultants, ultimately you are the ones who will implement whatever recommendations they come up with; you are the ones who have been around and who understand the system and so you are the ones who should drive the change,” he charged the staff.

He said the change would be anchored on three key issues of people, processes, and profit, adding that the people element was key to the success of the other two elements which was the reason personnel motivation was dear to his heart.

The GMD also dismissed reports that he was out to sack 1,000 staff, stating that nothing could be farther from the truth as he needed quality staff to drive the processes and business in the new NNPC. On his part, Comrade Francis Johnson, on behalf of members of the Petroleum and Natural Gas

L-R: Director General, National Information Technology Development Agency, Peter Jack; Permanent Secretary, Federal Ministry of Science and Technology, Tunji Olaopa and others after a briefing by President Muhammadu Buhari on the activities of the Ministry in Abuja yesterday.

PHOTO: TIMOTHY IKUOMENISAN

Don advocates more books to awaken reading culture Sola Adeyemo

Ibadan

A

Lecturer at the University of Ibadan, Professor Adetokunbo Lucas, yesterday in Ibadan tasked people to write inspiring books in order to reverse the dwindling reading culture in many Nigerians.

The don gave the challenge at the launch of a book: 'On the Bank of the River ' written by a broadcaster in a private radio

Senior Staff Association, PENGASSAN, pledged the readiness of NNPC staff with the GMD to achieve the Federal Government’s reform agenda for the Corporation and the oil and gas industry at large.

Also, Comrade Igwe Achese, President of the National Union of Petroleum and Natural Gas Workers, NUPENG, reechoed the position of the PENGASSAN, as he said that as a group, the union has implicit confidence in the ability of the new GMD to deliver on the President Muhammadu Buhari reform agenda in the oil and gas industry.

station based in Ibadan, Ifeoluwapo Adeniyi. The event took place at the Trenchard Hall of the University of Ibadan.

According to Lucas, the belief of many people is that the place of books is in the library, yet not many people visit the libraries to read the books. "To have good reading culture, we must have writers whose works would inspire others to read. Reading culture is dying, and it needs to be re-awakened. The author of today is mobilising

English for the welfare and development of Nigeria. In the nearest future, I forsee her doing more wonderfully", he said.

According to the don, "the reading culture is gradually fading out because it is partially affected by technology. People are now looking at television to get information more than reading it in books. They are using the internet. So, it is affecting many people not to go through the rigour of reading books.

"As a way out, I believe

there should be digital search through which a lot of information can be got. But at the same time, there is something very good in being able to read from the book. I sat School Certificate examination in 1947 and I still remember some of the things I read in books like Julius Ceasar that we used then.

I can recite the first part of the book to you now.

"There are however some in our society who still read, and an example of them is the person we

are celebrating today."

She is fantastic and inspiring. In short, technology should not be allowed to completely take over reading habit in our people, especially, students", Lucas appealed.

It was a harvest of encomiums for the writer, a graduate of the Obafemi Awolowo University (OAU) and an orphan, whose book was reviewed by another broadcaster, Edmund Obilo. Among those that showered encomiums on her were; the wife of the Oyo State Governor, Chief Florence Ajimobi and others.

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NERC: Fixed charges not illegal Johnchuks Onuanyim Abuja

A

gainst the complaints of fixed charges by electricity consumers, the management of the Nigeria Electricity Regulation Commission, NERC, yesterday stated that the charges were not illegal.

The Chairman of the NERC, Dr. Sam Amadi stated this in his response to the query sent to the Commission by the Senate on fix charges, estimated billing and other sundry issues.

According to the statement from the Head, Public Affairs Department, Dr. Usman Abba Arabi, Amadi stated that the Commission received seven queries from Senate, which the Commission has respectfully responded to.

According to him, the queries touched on the complaints by electricity consumers - the fixed charge, bulk metering of customers and estimated billing.

He said, "The Senate query also centered on payment for electricity meters, regulations and investments in electricity networks in Nigeria".

Udom calls for restructuring of bank loans Tony Anichebe uyo

A

kwa Ibom State Governor, Mr Udom Emmanuel, has called on the State House of Assembly to approve the request for the restructuring of the Commercial Bank Loans of the state into the Federal Government Bond.

He said that will help to restore fiscal stability of the state.

Udom made this known in a letter with reference number GHU/ AKS/S/104/VOL.V/650, sent to the State Assembly and was read on the floor of House during Tuesday's plenary sitting.

FG moves to increase TETFund' two percent education tax Customs generate N22.5bn from Lagos airport Yekeen Nurudeen Abuja

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here are indications that the Federal Government may have started the process to increase the two per cent education tax with which it supports the Tertiary Education Trust Fund

(TETfund) to about four per cent.

Executive Secretary of TETfund, Professor Suleiman Bogoro, who disclosed this yesterday, said the Federal Ministry of Education had already sent a comprehensive report to the Presidency in which it recommended an in-

crease in the education tax from its present two per cent to between three and four per cent.

He spoke in Abuja at an event organised by the Fund tagged :Institutionalization of Research and Development in Tertiary Institutions as a Launch Pad for Nigeria's Technological Advancement.”

Bayo Akomolafe

N

igeria Customs Service (NCS), Murtala Muhammed Airport Command, has generated N22.5 billion between January and July this year.

The command’s Comptroller, Folorunso Adegoke, said that the service

collected the highest revenue figure of N5.2 billion last month.

He noted that the last month revenue was an improvement over the N18 billion recorded in the corresponding period in 2014.

Adegoke noted: “Between January 1, 2014 and July 2015, the figure has been showing a steady

rise apart from the drop that we had during the election period.

“This was because a lot of people thought Nigeria was going to divide and there would not be any Nigeria after the election but thank God we are still in one piece. Apart from that time, our revenue has been going up.’’

WEDNESDAY, AUGUST 19, 2015 NEW TELEGRAPH

6

Metro

Man, 25, held with N77.2m in Abuja

MONEY LAUNDERING Weeks after a man was arrested with $2.1 million, another has been caught with over N77 million Juliana Francis

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he National Drug Law Enforcement Agency (NDLEA) has again apprehended a Bureau De Change operator with N48,450,000 and 86,500,000 CFA Franc (about N28,761,250) cash.

It totals about N77,211,250.

The 25-year-old operator, John Okafor, who was arrested at the Federal Capital Territory (FCT), Abuja, said the money belonged to his client.

According to him, his client instructed him to buy dollars for him with the money. He introduced himself as Bureau De Change operator, operating in Anambra State.

Okafor explained that he was on an official assignment.

He added: “I work for a bureau de change at Onitsha. I was asked to purchase dollars at the foreign exchange market in Abuja with the money. When we got to Abaji, our vehicle was searched and the money was found. That is all I know about it.”

Okafor’s arrest came just weeks after NDLEA arrested on Ibiteye John Bamidele with $2.1 million (about N500 million) in Lagos.

The NDLEA Head, Media and Publicity, Mitchel Ofoyeju, said the monetary exhibit was detected during routine motorised surveillance on Abaji-Abuja Expressway.

He said: “The suspect was on board a commercial bus from Onitsha in Anambra State when N48,450,000 was found in a brown carton con-

NDLEA boss, Ahmadu Giade

cealed in a sack. He also had on him 86,500,000 CFA Franc.

He claimed that the money belongs to a bureau de change at Onitsha.

“John Okafor has been transferred to the Economic and Financial Crimes Commission (EFCC) for further investigation.”

Meanwhile, the NDLEA also arrested a man, Chukwuka Ugbai, with 79 bags of cannabis in his warehouse.

The suspect told NDLEA detectives that he deals in the substance in order to pay his kids’ school fees.

Ugbai was arrested at Bako village in Kwali Area Council after the discovery of his cannabis warehouse.

The 79 bags of dried weeds tested positive for cannabis and weighed 817kg.

NDLEA FCT Commander, Mrs Obijuru Chinyere, said that the suspect was caught red handed at his residence.

Stating his own side of the story, Ugbai said: “I can say I was not lucky enough because I don’t know how they detected my cannabis warehouse. I sell cannabis to take care of my family and pay my children’s school fees.

“The officers found 79 bags of cannabis in my store house.

I pray to get out of this problem and never to do it again in my life.”

But, Ofoyeju said Ugbai would soon be charged to court

for unlawful possession of cannabis.

The NDLEA Chairman, Ahmadu Giade, called on the public to adhere strictly to the provisions of the Anti-money Laundering Act. He stated: “The agency is committed to the fight against illicit drugs and related offences such as money laundering. It is important to comply with the provisions of the act and embrace the cashless policy.

“The cannabis seizure made at Bako village is part of ongoing drug supply control plan to cut away drugs from the end users. We shall be vigilant to identify any violation of the NDLEA Act relating to drug trafficking and money laundering.”

Robbers vandalise ATM, steal millions Uchenna Inya ABAKALIKI

ABIODUN BELLO FEATURES Editor

abiodun.bello@newtelegraphonline.com

© Daily Telegraph Publishing Company Limited

A

rmed robbers have invaded Ebonyi State University Abakaliki and vandalised an Automated Teller Machine (ATM) belonging to an old generation bank.

This came barely three weeks

after robbers invaded the Simeon Oduoye female hostel of the College of Agricultural Science (CAS) of the institution and robbed the students of various items.

Sources said the robbers beat all the security checks in the institution and proceeded to the ATM where they stole over N10

million.

“The robbers came into the campus in the night and went straight into the bank. They later carted away millions of naira loaded the same day by bank officials.

“We learnt that up to N12 million was stolen during the incident. I can’t tell the actual

FRSC holds 23 drivers for traffic offences Camillus Nnaji

T

he Federal Road Safety Commission (FRSC) yesterday apprehended 23 articulated truck drivers for various traffic offenses on the Lagos-Ibadan Expressway.

FRSC Zonal Commander, Zone 2, Lagos/Ogun states, ACM Charles Akpabio, who spoke with journalists yesterday, said the exercise was the second phase of the ‘Operation Scorpion campaign,’ which began on July 27.

Akpabio said over 500 articulated vehicle drivers were apprehended in the first phase, while 23 others were arrested yesterday for various traffic offenses.

He said: “You can see that the exercise is paying off, considering the reduction in the number of arrests today. It means the drivers are taking precaution. We are determined to ensure zero level tolerance to traffic law disobedience. That is why the exercise must be sustained till the ember months.”

The zonal commander said those arrested would be charged to court in Lagos, Ogun and Oyo states where the exercise was holding simultaneously.

He said the drivers were arrested for various offences such as non-conformity to lane discipline, speed limit violation, driving with no or fake driving licenses, overloading, rickety vehicles, container and trunk valve hooking, tyres and general maintenance.

Some of the arrested trucks

amount but all I know is that there was robbery in the bank,” a source said.

Another source claimed that the hoodlums first sacked the security personnel at the entrance gate before entering the bank.

The state Police Public Relations Officer (PPRO), DSP Chris Anyanwu, who confirmed the robbery incident, said the actual amount stolen had not been ascertained.

Metro

NEW TELEGRAPH WEDNESDAY, AUGUST 19, 2015

Man shot as gunmen Nelson Ipaye for burial open fire in Lagos T

Lagos PPRO, Patricia Amadin

Betty Sobo

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here was panic at the popular Cele bus stop on Oshodi-Apapa Expressway, Lagos, when suspected robbers opened fire and shot a passer-by.

Witnesses at Cele bus stop said the gunmen were in a white Toyota Hilux vehicle and appeared to be escaping from those chasing them.

A passer-by was said to have been hit by one of the stray bullets, while many others escaped being hit in the Monday afternoon incident.

“The driver was driving recklessly.

He was on the service lane. There were some men inside the car. We felt they were armed robbers. They were shoot-

ing sporadically into the air to make way in the very busy area.

“They caused pandemonium. They shot a man who was passing. Sympathisers rushed him to the hospital.

One of those who took him to the hospital carried him on his back. We don’t know the hospital he was taken to,” a witness said.

Another witness, Kunle Ajomale, said that he narrowly escaped death.

He said: “I was going to see a client for business at Okota when the incident occurred. I was at Cele bus stop, en route to Itire Link Bridge when we started hearing gunshots.

We all started running for safety. As I ran towards a shop, hoping to hide, I heard a bullet whizzed past my face.

I would have been killed by now. God saved me from death.”

A fruit seller, Mr Ayoola Razaq, said: “I believe the gunmen were coming from Ijesha or Mile 2. They started shooting into the air. We ran for our lives. They drove towards Okota Road. Nobody had an idea where they were coming from or heading to. We suspected they are armed robbers, returning from an operation.”

Another witness said: “No one can really explain what happened but a man was shot. He was rushed to the hospital immediately. The gunmen escaped before the Mobile policemen on ground could intervene.”

Soon after the gunmen left, peace returned to Cele bus stop. Traders immediately went back to their businesses.

When contacted, the state Police Public Relations Officer (PPRO), Patricia Amadin, denied there was shooting in the area.

he final burial programme of Pa Nelson Ipaye will hold on August 22 with a prayer at his residence, 1, Olabode Olooro Street, Agodi Yidi Gate, Ibadan, Oyo State by 10 am.

This will be followed by reception of guests at the Goshen Events Centre, Old Leventis Building, Coca-Cola area, Oyo Road, Ibadan, by noon.

Pa Moshood Adisa Nelson Ipaye, who was one of the pioneers of broadcasting in Nigeria, died at 87 on March 2.

He was one of the pioneer staff of the then Western Nigeria Television/ Western Nigeria Broadcasting Service (WNTV/WNBS) when it was established in 1959 as the first TV station in Africa by the late Chief Obafemi Awolowo.

Ipaye, popularly called the Golden Voice of Africa, worked with broadcast veterans such as Steve Rhodes, Julie Coker, Segun Olusola, Anike Agbaje Williams, Victor Adeniyi and Femi Jarret, among others.

He is survived by two wives, 11 children, many grandchildren and great grandchildren.

A

ugust 14, 2011 will remain a bad dream for Chizimuzo Okekeobi, as his involvement in a motor accident on Asaba–Benin Expressway that day has since left him bed-ridden and in dire need of help for treatment overseas.

The then 33-year-old, a 200-level student of the Lagos State University (LASU, Agege Campus), was travelling back to Lagos after visiting his sick father in his village at Uruoji in Idenmili Local Government Area of Anambra State when the car they were travelling in somersaulted several times resulting from a burst tyre, leaving him severely injured.

He was taken to Nnamdi Azikiwe University Teaching Hospital, Nnewi, Anambra State (hospital number 152657) after he was rejected by the Asaba General Hospital. The diagnosis and clinical tests indicated a spinal cord injury in addition to other issues caused by the ac-

cident.

An MRI scan was also conducted at Memfys Hospital for Neurosurgery, Enugu, the result of which was taken to Mecure Healthcare Limited, Oshodi in Lagos for analysis last year. Mecure contacted Fortis Healthcare at B-16, Chirag Enclave, Opposite Nehru Place, New Delhi, India, who sent in an estimated cost for Chizimuzo’s treatment, put at $12,300 or N2.1 million (using the 2014 exchange rate), but excluding contingency expenses. It is expected that about N3 million (using the current exchange rate) should suffice.

Chizimuzo is in high spirit despite the agony he has

Mob sets thief ablaze Lilian Okafor

A

n angry mob has set ablaze a suspected spare parts thief at Isikalu Street Junction in Ajeromi/Ifelodun Local Government Area of Lagos.

The unidentified man was said to have been removing the brainbox of a car at Isikalu Street Junction, by Wilmer Crescent, Olodi-Apapa, when he was apprehended around 4am.

The suspect was allegedly tied down till 6am when other residents woke up to see him.

The crowd gathered and spontaneously set him on fire after beating him severely.

It was learnt that some of the residents suggested that the suspect should be handed over to the police but the majority refused.

A witness, who identified himself as Nkemjika, said the irate youth brought used tyres, petrol and a match box to where the suspect was tied down.

Nkemjika added that before anybody knew what happened, the youth had already set the suspect ablaze.

He said: “People in the area are not happy about how the brainboxes of their vehicles usually develop wings overnight.

Many vehicles in the area have been vandalised and many of the parts removed.

Adeolu Adeyemo Osogbo

U The late Nelson Ipaye

faced for four years. He needs prayers and financial support, so that he can regain his fitness to face other challenges of life.

His fellow choristers and friends at Saint Benjamin’s Catholic Church, Olowora, Lagos have opened a bank account, so that well-meaning Nigerians can contribute to this life-saving cause.

with every progress made, including cash realised. The promoters can be reached on 08023033488.

The details are: Bank: Zenith Bank Plc Account Name:Save Chizimuzo.

Account Number: 1004810701 The promoters of this campaign have promised to constantly update the public

Okekeobi

FrieslandCampina donates milk to IDPs It added that the pro- in millions of naira as a rieslandCampina WAMCO Nigeria said gramme would help to re- nutrition intervention F it was partnering with the duce concerns of malnutri- initiative from August to Nigerian Red Cross Society on a nutrition intervention valued at millions of naira for displaced children in Internally Displaced Persons (IDP) camps in Yola, Adamawa State.

According the company, 1,700 children from age 5 upwards will benefit from the programme.

City Briefs

Man commits suicide over indebtedness

Spinal cord injury: Accident victim seeks N3m lifeline Isioma Madike

7

tion in the camps.

In Yola, the Vice President (North) of the Nutrition Society of Nigeria, Mr Sam Yuwa, gave a talk on the role of dairy in solving malnutrition in children.

FrieslandCampina WAMCO, makers of Peak milk, will donate about 20,000 cartons of milk

nable to repay a loan he took from a micro-finance bank, a middleaged man, Adekola Bushari, yesterday committed suicide in Osogbo, the Osun State capital.

The incident happened at Number 3, Olatunji Ajayi Street, Oke Onitea area, of the town.

A witness said Bushari tied a rope to the ceiling fan in his sitting room and hanged himself.

The widow, Bidemi, wept uncontrollably while rolling on the ground.

She said: “I was the one who discovered the body of my husband dangling on the ceiling fan of our sitting room about 5am when I woke up from sleep.

I immediately called for help.

“Though he was indebted, I have been repaying the loan he took from a micro-finance bank. So, I don’t understand why he hanged himself.

“I woke up to urinate and discovered that the cloth I used to cover our two-year-old child was missing, only to find out that it was the cloth my husband used to hang himself.

“My husband did not give any sign of intention to commit suicide the previous night as we had an engrossing time together before going to bed on Monday night.

October.

Managing Director, FrieslandCampina WAMCO Nigeria, Rahul Colaco, said: “We believe in integrating CSR into our business philosophy, hence, this project ties in well with our mission of nour- Corporate Affairs Director, FrieslandCampina WAMCO ishing Nigeria with quality Nigeria, Mrs. Ore Famurewa (middle), during a visit to the IDP camp in Yola…recently dairy nutrition.”

8

News

Ogun: Tribunal admits INEC's 70,000 exhibits as evidence Kunle Olayeni Abeokuta

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he Ogun State Governorship Election Petitions Tribunal sitting in Abeokuta, yesterday, admitted in evidence electoral materials brought before it by the Independent National Electoral Commission (INEC).

The materials, numbering over 70,000, were brought to the tribunal on Monday by the Deputy Director/Head of Department (Electoral Operations), Samuel Ogunjemilua, through a writ of subpoena.

They were at the instance of the Peoples Democratic Party (PDP) candidate in the April 11 governorship election, Prince Gboyega Isiaka, who is challenging the victory of Senator Ibikunle Amosun of the All Progressives Congress (APC).

The electoral materials admitted in evidence included Certified True Copies of election result sheets, including forms EC8A, EC8B, EC8C, EC8D, EC8E; Voter Registers and Incident Forms.

The exhibits, which were conveyed in four INEC-branded Toyota Hilux vans, belong to nine of the 20 local government areas of the state namely Abeokuta North, Abeokuta South, AdoOdo/Ota, Ewekoro, Ifo, Obafemi-Owode, Odeda, Remo North and Sagamu.

national Wale Elegbede

A

s the December 6, governorship election in Bayelsa State inches closer, the state governor, Hon. Seriake Dickson, has stated that former President Goodluck Jonathan remains highly supportive of his re-election,.

He added that the former president believed and understood the imperative of why he should be re-elected as governor.

Addressing newsmen yesterday in Lagos, Dickson, who is yet to make official declaration of his ambition to contest for a second term of office in the governorship election, declared that the Peoples Democratic Party (PDP) remained the party to beat in Bayelsa.

Dismissing insinuations of a frosty relationship between him and the former first family, the governor

Abuja

S

enator Adamu Aliero, representing Kebbi Central Senatorial District has kicked against the recent call by the Senate for a review of the Power Sector Reform Act (PSRA). He said that the demand was hasty and unrealistic. Aliero expressed this view in an interview with New Telegraph in Abuja, where he reacted to the Senate's resolution last week Thursday to set up a Committee to look into the activities of the Transmission Company of Nigeria (TCN) with a view to unravelling the reasons for its abysmal performance in power supply.

The Senate had at the end of debate on the motion brought to the floor by the Majority Leader, Senator Ali Ndume, set up a 13-man ad-hoc committee led by Senator Abubakar Kyari (APC-Borno

Jonathan supports my second term bid, says Dickson insisted that he enjoyed far cordial relationship with the former president and his wife, urging Nigerians to await his memoirs where details of battle he fought when he was running for governorship in 2012 would be clearly stated.

"What I know about the former president is that the former president remains my elder brother and my leader, and we are working closely. If there is anyone who believes and who is supportive and understood the imperatives, the reasons why I should be re- elected is former President Jonathan.

"He believes I have done well and I am doing well for our state and for our

people," Dickson said.

Speaking further, Dickson explained that the former president was equally aware that he was his frontline supporter from beginning to the end when he was in power, stating that all that was being said about the sour relation between him and former president was speculations and rumours. " The former president knows that I was his number one supporter from beginning to the end. I don't want to comment on speculations and rumours," he said.

While describing the recent gale of defection that had hit the Bayelsa chapter of PDP as blackmail, pro-

paganda, political betrayal and show of ingratitude, Dickson said for him, the concern was that those involved were people who had benefited immensely from his government and the party.

According to him, a lot of them are currently handling huge contracts, which he said they didn't beg to get but were sought for to be given those contracts.

He disclosed further that many of them, including Chief Timi Alaibe had their nominees as current commissioners in his cabinet and in other various posts in the state.

"They didn't come begging for those jobs, we sought for them. Alaibe

has his nominees in government even as we speak, all of them," he said, adding that such act would, however, not dissuade him from doing good as it only showed the capacity of people for doing evil.

Dickson, who said the reason why the defectors were rushing to PDP, contrary to other excuses that they were not paid for contracts they executed for government, was to position themselves for Federal appointments as Bayelsa had never been in opposition camp until now.

He insisted that he had been good to all that defected through quality leadership as he did not see them as enemies.

"The reason they are positioning themselves for the Federal appointments is because APC is at the centre now. I am not in a position to do it."

Dikko unveils new hospital for customs

T

L-R: Divisional Head, Strategy, Innovation and Business Transformation, Fidelity Bank Plc, Gbolahan Joshua; Executive Director, Lagos & South-West Bank, IK Mbagwu; Divisional Head, Operations, Martins Izuogbe and Chief Risk Officer, Kevin Ugwuoke, during a reception for members of the Financle 10 Project steering Committee in Lagos ‌yesterday

Aliero kicks against Senate resolution Chukwu David

wednesday, august 19, 2015 NEW TELEGRAPH

North) to critically examine the irregularities in the power sector.

The ad-hoc committee was also mandated to carry out a holistic investigation into the management of funds appropriated for the power sector since 1999 and the unbundling of the TCN. The upper chamber further condemned the inability of the TCN to provide continuous and uninterrupted power supply to all parts of the country, and directed the committee to conclude its investigations and report to the general House within two weeks.

But Aliero opposed the idea of taking any punitive measures against the investors in the power industry, arguing that more time should be given to them to put their houses in order and then effectively face their fundamental objectives, which include stabilizing power supply in the country.

Foreign Ministry to appeal N84m ruling Onwuka Nzeshi ABUJA

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he Ministry of Foreign Affairs, yesterday, said it would appeal against the ruling of the National Industrial Court ( INC), directing it to pay N84 million to one of its former staff as compensation for his disengagement from service.

Permanent Secretary of the ministry, Ambassador Bulus Lolo, said the appeal had become necessary because the judgment if left unchallenged, would create a dangerous precedence that may harm the Nigerian Foreign Service and other arms of government in the country.

Lolo disclosed that the judgment took the Ministry of Foreign Affairs by surprise as there was no communication on it until the court bailiff came to execute the court order.

He argued that the court judgment was an attempt to force the ministry to accept the prolongation of the service of an officer abroad, which is outside the ministry’s rules.

"The matter is now a subject of litigation because the ministry has moved to appeal against the ruling of the National Industrial Court.

The key element being the posting of a Foreign Service officer; every Foreign Service officer, like in any other service, is governed by the rules

of the service and when the service decides that you move to one station or the other, it is not the officer that determines how long he or she stays. That's one ground that we want to bring to court.

"The second one is the amount of money that has been awarded to the officer which is not broken down so that the ministry would understand and compare it even with what obtains at the station where this officer was serving."

he out-going Comptroller General of Customs, Alhaji Abdullahi Dikko Inde yesterday unveiled a new three storey hospital in Abuja.

The opening of the hospital, built for Customs personnel is the climax of the 27 year career of Dikko, who retired as the Custom Boss, after six years on the saddle.

The medical director of the NCS hospital, Karu, Dr Nanman Nandap, described the hospital as a comprehensive medical facility equipped with state-of-the-art facilities and a well-trained staff.

He listed some of the features of the hospital as modern radio-diagnostic and ultrasound equipments; three modular theatres and an intensive care unit with a central gas supply system. It also has executive wards and a mortuary.

Kaduna State Governor, Nasir El-Rufai, lauded the management skill of Abdullahi Dikko, especially his commitment to the welfare of staff.

NAFDAC tasks mothers on exclusive breast feeding Dan Atori MINNA

T

he National Agency for Food and Drugs Administration and Control (NAFDAC) has called on mothers to go on exclusive breastfeeding

for at least six months to ensure healthy development of their infants.

The Agency's Co-ordinator in Niger state, Mr Dadi Mullah, gave the charge yesterday at a one-day workshop for staff of the agency on code of marketing of

breast milk substitute.

According to him, "adequate nutrition during infancy and early childhood is fundamental to the development age. It is a critical window for the promotion of optimal growth, health and behavioural development".

NEW TELEGRAPH WEDNESDAY, AUGUST 19, 2015

Governance

Petition

Parliament

10, 11

12

13

How Jonathan mismanaged Nigeria, by Fayemi

Ladoja’s battles to ‘reclaim’ mandate

Day Dogara became floor member

Emoluments

9

Senators in dilemma over pay cut

35

Politics Last week, the House of Representatives advised President Muhammadu Buhari to urgently appoint a substantive chairman for the Independent National Electoral Commission (INEC). PHILIP NYAM reviews the call vis-avis the vacancies at the commission

INEC chair: Will Buhari heed Reps’ counsel?

S

ince the exit of Prof. Attahiru Jega as the national chairman of the Independent National Electoral Commission (INEC), the electoral umpire has been in the news over the need for a successor. Although, President Muhammadu Buhari had appointed Mrs. Amina Zakari as acting chairman pending the appointment of a substantive chairman, many stakeholders particularly the leading opposition party, the Peoples Democratic Party (PDP), vehemently kicked against the first woman to head INEC. The allegations against the acting chairman varies, ranging from integrity question to her alleged blood links with the president.

Of all these allegations however, no one has doubted her qualification, competence and experience to function as INEC chairman.

The House of Representatives, being a major stakeholder in the nation’s polity, took its turn last week by passing a resolution urging President Buhari to immediately do the needful by appointing a substantive chairman for INEC in line with the provisions of the constitution of the country.

The call was consequent upon a motion brought to the floor of the House by Hon. Edward Gyang Pwajok (PDP, Plateau). In the mo-

AYODELE OJO

DEPUTY EDITOR, PoLITICS ayodele.ojo@newtelegraphonline.com

© Daily Telegraph Publishing Company Limited

Buhari

tion tilted “Urgent need to fill the vacancies in the office of National Commissioners and Resident Electoral Commissioners (REC) of the Independent National Electoral Commission (INEC),” Pwajok submitted that by the provisions of section 154 of the constitution establishing INEC it is supposed to have 15 National Commissioners.

He argued that as of now, 10 out of 15 have retired hence the commission cannot form a quorum to take decision or actions. Pwajok noted that INEC has critical constitutional functions conferred on it by the constitution, which among other things mandates it to organise elections to the office of president, vice president, governor, deputy governor, National and State Assembly memberships, register political parties, monitor the organisations and operation of political parties, conduct the registration of voters, schedule the time frame within which elections and parties congresses/primaries are held.

The lawmaker said he was aware that elections to the governorship of Kogi and Bayelsa states have been scheduled for November and December respectively and that the major political parties have slated their primaries to elect

Dogara

There may be legal issues on the activities of the commission on account of the vacancies

gubernatorial candidates for the last week of August 2015. Pwajok said he was disturbed that INEC presently is not properly constituted to carry out its constitutional functions of preparing for those elections, monitoring party congresses and updating register of voters.

He expressed the fear that there may be legal issues on the activities of the commission on account of the vacancies existing in the said offices.

The motion was unanimously adopted but most of the lawmakers had expressed worry over the state of INEC. But before the motion was passed, the minority leader, Hon. Leo Ogor also brought another perspective to the debate citing the 1999 Constitution (as amended), arguing that there was no such provision as acting chairman of INEC. In his contention, since such a provision do not exist in the constitution, the president should immediately commence the process of appointing a substantive chairman for the body. His argument could not be sustained as the House leader, Hon. Femi Gbajabiamila countered the submission, noting that it will not

be in the interest of the nation to leave a vacuum at INEC because the constitution did not expressly state that at the expiration of the tenure of the national chairman, an acting chairman should be appointed.

Speaker Yakubu Dogara, who presided over the plenary also towed the line of the House leader and cautioned against it.

Though the motion received a favourable response from the members, many of them were of the view that the president should restructure the electoral umpire like he did at the Nigerian National Petroleum Corporation (NNPC) with the appointment of a seasoned and world class professional, Dr. Emmanuel Ibe Kachikwu, for his change agenda to be taken seriously.

This was, however, not part of the prayers of the motion as brought by Pwajok, but members were passionate about the operations of the commission, particularly in the last five years. In spite of the achievements recorded

by INEC under the headship of Jega in the past five years, the lawmakers were unanimous that apart from making the pending appointments, the president must ensure a total overhaul of the commission.

Their argument was that Jega may have conducted a fairly acceptable elections that ushered in change in the country, such a change could only become feasible if the administration of President Buhari pursues it with honesty and transparency. The general consensus was that change must begin with the appointment of credible and competent individuals to lead organisations such as INEC as anything short of that would cast doubt in the ability and commitment of the APC-led government to sustain the average achievements recorded at INEC. Another argument that was postulated by the lawmakers was the fact that corruption, which has been the bane of most government agencies and establishments in the country has comfortably found its way into INEC. Some had expressed concern that some RECs have become “more partisan than CONTINUED ON PAGE 12

10

Politics

WEDNESDAY, AUGUST 19, 2015 NEW TELEGRAPH

Fayemi

How Jonathan mismanaged Nigeria, by Fayemi lSays nobody can intimidate Buhari Former Governor of Ekiti State, Dr. Kayode Fayemi, has confidence in President Muhammadu Buhari’s ability to turn the fortunes of Nigeria for good. In this interview with AYODELE OJO and WALE ELEGBEDE, Fayemi speaks on life after office, how erstwhile President Goodluck Jonathan mismanaged Nigeria, bailout for states and efforts by Governor Ayodele Fayose to nail him How has life out of office been?

Actually, it has been a relief in being able to control what one does in one’s own time, spending more time with the family and generally reflects on office and the future. It

has been a whole new experience.

On top of that, I have been busy with party and campaign matters.

As you will recall, it was not quite one month after I left office that I was saddled with the responsibility of heading the presidential primaries committee in December 2014. I moved on from that to working in the campaign from January 2015. I can tell you that from that time till now, it’s been a really hectic schedule, an exciting one I must say and a major relief that we overcame all odds to ensure that our candidate emerged as the favourite in that election. So, it’s been interesting in that regards.

Of course, there are moments that have not been totally exciting, if I may use that word. My heart sinks when I see what is going on back home in Ekiti and the destruction of all the interesting and well-regarded initiatives of our government like the social security scheme which has now been cancelled by the government there and which of course plunges all those elderly indigent people into further deepening poverty. Also, the cancellation of our youth employment and commercial agriculture initiative will leave thousands of

Nigeria has been hollowed out by the departing Goodluck Jonathan government and its agents

people who are beneficiaries of that scheme without anything. The almost total collapse of the Ikogosi Resort, which we spent considerate amount of money to resuscitate and was beginning to gain additional investment from private sector operators; it’s sad that we found ourselves in such a situation. But much more sadly is the total and complete collapse of safety and security which used to be the mainstay of Ekiti State in all of the four years I spent as governor. The state now has almost become the kidnapping capital of Nigeria. But on balance, I have had quite an exciting 10 months out of office.

What are you actually missing in office?

Frankly, when I was in office, I was not carried away by the fad of high office. So, if you are talking about what I missed most, it is the fact that I am not in a position to help people who have found themselves in a very difficult place due to the poverty stricken nature of our society.

Definitely, you are not happy with the way some of your programmes in Ekiti have been abandoned by your

successor, Governor Ayodele Fayose?

Not at all! No one would be happy with such a situation. I still run into many of those who benefitted from the schemes. I was in Ekiti two weeks ago and in some of my visits around the state, I had people come around to me to say how it has been difficult for them to feed.

I can tell you that of the 132 communities in Ekiti, there is no single one that did not benefit from our community self-help support programme.

Of course, this is not a governor that really promised anything; so you cannot hold him to anything.

He never told them that he will do anything, so, if he is not doing anything he is not really breaking his promise to the people.

And yet people voted for him?

I don’t know about that. The jury is still out on that. We shall see when the full investigation is concluded, now that the military has had its change. As I used to say to people, we have not heard the last of Captain Koli’s tape, we will see as that goes.

Presently, some states in the country can’t meet their financial obligations because of lack of funds and most of them claimed that their predecessors left huge debts behind. What is your take on this?

I can’t speak for all governors but I can only use my example to explicate the challenges that states encounter. Every governor naturally must have presented some kind of agenda to the people on which he

Politics 11

NEW TELEGRAPH WEDNESDAY, AUGUST 19, 2015

was voted into office. Once in office, such a governor would want to fulfil the promises made to the people. I don’t think the primary business of a governor is payment of salary.

When I was in office, I used to say if the only reason why I am in office is to pay salary, then let me go back home because you don’t need me to pay salaries. When I was governor in Ekiti, I was able to put in place an integrated biometric payment system and on the dot of the 25th of every month, you will get your alert.

So, when somebody says my achievement is salary payment, I really want to ask if that was what he went to office to do.

I am not excusing my colleagues who have found themselves in this dire strait, but the context is that our federalism is clearly not appropriate and accountable. Some governors might have been irresponsible but I am sure no one goes into public office not to want to do something that history will remember him for. In the case of many of the governors, you also have to deal with the fact that the last five years of the Goodluck Jonathan’s administration was riddled with all sorts of financial irregularities, illegal deductions from the federation account and that also affected the states. By the time we took the Jonathan’s administration to court over the Excess Crude Account (ECA) and the illegal deductions from the federation account, that also affected the states. The rough estimate of how much each state was owed ran into about N15 billion. Even when the Supreme Court said we should go and settle out of court, the Federal Government ignored us.

So, is this why govenrment is coming up with bailout for states?

It is important for people to understand this whole concept of bailout. The truth of the matter is that no state is being bailed out, at least not yet. There are three components to what President Buhari has done just to help the states meet their immediate obligation.

The first part of that component is the $2.1 billion that everybody is talking about, that is not a bailout; it’s actually their own share in the federation account. They were paid their own share of the profit made.

That level of accountability shown

by President Buhari has never been shown before, that money has been collected beforehand.

In all of my four years in office, Ekiti never benefitted one naira from Nigerian Liquefied Natural Gas (NLNG) dividends and no one can tell me that there was no profit.

We are aware that the money that went into it was up to about $11 billion because they paid that money into the Nigerian National Petroleum Corporation (NNPC) account which was distributed to some unknown quarters. The second component is the restructuring of the loans and bonds from about seven years; the average tenor of a bond is seven years. If there are commercial loans that have been taken at maybe for 20 or 25 per cent at a tenor of about one to two years, the Central Bank is to help restructure that into a bond that will now have a longer tenor of between 15 to 20 years that is standard practice in every economy.

When Obama became the president of the United States, that was the very first thing he did. The first law that the Congress passed, the Tarp Law, was in the form of a bail-

out to collapsing banks, industries and others. It is really the third component that is the bailout. That is the N300 billion that the Central Bank is earmarking for states that can meet the terms and conditions associated with that fund and I am not aware of any state that has benefitted yet in that N300 billion.

Are you excusing the governors from the financial situation?

I am not excusing my colleagues who are in office, I am explaining that we need to really fundamentally restructure the Nigerian state. If we don’t, we will return to this problem every time oil prices dwindle because there is not enough opportunities to unleash the creative ability of our people locally. Everybody wants to rush to Abuja at the end of every month and unless you devolve powers and decentralise things, this will continue.

When I was governor of Ekiti State, about eight decent hotels sprang up. The reason for that is very simple; they don’t have a governor who is going to demand a cut from them for building their hotels, who is going to refuse to release their Certificates of Occupancy because they have not seen the governor. These hotels are consistently full in the course of my being in office. Now, even the state-owned Fountain Hotel hardly gets 10 people to stay there because everybody is afraid of kidnapping and they don’t want to visit Ekiti.

If we have a more accountable government and a better restructured country that devolves more power and revenue, then most of the states will have no excuse to end up with unfunded mandates.

This lopsidedness in revenue formula has to change; states have to get more money to address these issues. Right now, states only have 26 per cent of the federation account, while the Federal Government has 56 per cent. Also, states must continue to look for creative ways of generating local resources in order to meet their own obligations. But importantly, states must regionalised with their contiguous states so that they can benefit from

comparative advantage.

Buhari is one person who is very systemic in his approach.

You can’t rush him; you can’t intimidate him, you can’t harass him

Some of your colleague-governors are being tried by the Economic and Financial Crimes Commission (EFCC) for corrupt practises while in office….

I have seen that and read about it in the newspapers, but we have to be careful because the fundamental tenet of the law is that one is not guilty until convicted. Allegations are easy to be bandied around, I am sure all manners of funny petitions too must have been written to the EFCC about me. I haven’t had the pleasure or the misfortune, whichever one you chose to call it of being invited by any anti-corruption agencies and the reason for that is simple. It is not for the lack of trying, Fayose has looked everywhere in Ekiti for a way to nail me because of course I am uncompromising, I don’t believe he is the right person for the state and I also believe that that he is going to end up being an agent of retrogression for that state. So, since there is no meeting point between us, naturally given the mindset of an average retrogressive politician in Nigeria, they have been looking everywhere.

But the Fayose government accused you of recklessly spending billions of naira to build a Government House.

That is part of the propaganda and you have to give Fayose some credits because he is a good rabble - rouser especially when he doesn’t have anything to offer the people.

It is true I built Ekiti Government House because there is no government house in the state. We have a whole range of ramshackle buildings and anyone who was in Ekiti when I was governor and living in Oshuntokun Villa, would know the kind of place they normally come to whether it’s befitting of a governor who is symbol of the state. At the risk of sounding immodest, my private house is much better than where I lived throughout that period.

I built the cheapest government house in Nigeria today. You can undertake an exercise; go to Kaduna and see the N10 billion government house that my brother,

Nasir el-Rufai just inherited or go to Plateau and see the N9 billion government house there and compare them to Ekiti Government House that is N2.1 billion. There is no N50 million bed in Ekiti Government House. There is not even a N1 million bed in Ekiti Government House. The records are there but you know for Fayose, anyone who knows him, knows that he is a jester and rabble-rouser.

In fact, the first time Fayose got to that government house, the first thing that came out of his mouth was, “Hen! Ha! Fayemi sise ni bi yi o (Fayemi has worked so hard here). How did he do this?” But he quickly did a double thing with his people and said we cannot go out and say this man has done all these; so, let us flip it over. He said he was not going to stay there; you go and ask Ekiti people where he stays now? His family is there, which is his right as a governor. I built it so that governors succeeding governors will have a place of honour to welcome their guests.

It is not only for residence; only one floor is for residence there.

It is an office, it is a banquet hall, it is a meeting place. And it can compare with any around; it is a multi-purpose facility that is built to last and the quality of the work can compare with any of its type anywhere.

So, for me history will judge what has been done. The house is there now; I did not lift it to my village. The facilities that I built are there. The tragedy is that some of them are not been maintained properly because the government that is there does not even have a clue or an interest in maintaining these facilities. It breaks my heart when I drive round Ikogosi and see what is happening there less than a year of my leaving office.

So, I can defend the projects that I put in place anywhere and they are projects that would last long time and they are projects that are befitting of the state. They are projects that are not fathom projects and that is why in inaugurating them, I made sure that people who came to inaugurate them were people who would not lend their names to something that is fake. Even before he became president, General Buhari was the one who inaugurated the Ekiti Parapo Square; the pavilion that we built. Former Vice-President Atiku Abubakar was there; General Abdulsalami Abubakar was in the state and my colleagues Rabiu Kwankwaso, Babatunde Fashola and Rochas Okorocha also came to inaugurate projects. General Alani Akinrinade, Papa Bisi Akande, Prof. Wole Soyinka and other people were part of those who associated with a successive government. I believe that with the limited resources that was available to us in Ekiti, we gave a good account of ourselves, not only in taking care of the people in terms of the so-called stomach infrastructure but also in leaving lasting legacies. You can go round and see the schools in Ekiti; you can go and see the universities and hospitals all around Ekiti.

What are your expectations from President Buhari?

President Buhari is already changing Nigeria. One of the interesting things I found out is that, Nigerians follow their leaders. The

Fayemi

CONTINUED ON PAGE 36

12

Politics

Ladoja

WEDNESDAY, AUGUST 19, 2015 NEW TELEGRAPH

Ajimobi

Ladoja’s battle to ‘reclaim’ mandate

SOLA ADEYEMO writes on the battle between former Governor of Oyo State, Senator Rashidi Ladoja and Governor Abiola Ajimobi at the ongoing governorship election petition tribunal

W

hen in June, the Oyo State Governorship Election Petition Tribunal commenced sitting at the Iyaganku High Court, Ibadan, many people who wanted a change in the status quo were of the high hope that the grievances of the Accord Party candidate and former governor in the state, Senator Rashidi Ladoja, would soon be resolved.

Similarly, loyalists of the All Progressives Congress (APC) and Governor Abiola Ajimobi were poised to see that the mandate was sustained while all the allegations by Ladoja and his party would be crushed at the tribunal.

Ladoja, who alongside others contested against Ajimobi of the APC, kicked against the declaration of Ajimobi as winner of the April 11 election by the Independent National Electoral Commission (INEC), claiming that the results that produced him were manipulated.

But, convinced that he won the election, Ladoja sought for the services of Pastor Richard Ogunwole (SAN), who filed his petition against Ajimobi, the APC, the state Resident Electoral Commissioner (REC), Ambassador Rufus Akeju, and the INEC. He urged the tribunal to investigate the pattern of voting and ballot papers used in 21 out of the 33 local governments areas of the state.

Ajimobi, the APC and the INEC equally countered Ladoja’s claim of electoral malpractices by engaging the services of top legal gurus led by two former presidents of the Nigerian Bar Association (NBA), Chief Wole Olanipekun (SAN) and Mr. Rotimi Akeredolu (SAN), who initially prayed the tribunal to strike out the petition as lacking in substance.

The pre-hearing sittings took about three weeks with legal hiccups occasioned by series of processes filed, many of which were attacked from either side as being fraught with irregularities.

While the legal fireworks was ongoing, delaying the timely take-off of the real hearing, the chairman of the tribunal, Justice F.C. Obeize retired, thus throwing a big clog in the wheel of the proceedings.

Those averse to the style and administration of the APC are keeping vigil on the matter, expecting a new government

The tribunal could not be properly constituted without a substantive chairman.

Series of adjournments were observed while expecting the arrival of another judge to steer the affairs of the tribunal.

The new chairman, Justice Mohammed Aliu Mayaki, resumed on July 21, after about a month of inaction.

Having lost much of the time in the statutory 180 days allocated to the hearing, the new chairman gave all the counsel in the matter a marching order to avoid any technicalities and abuse of tribunal processes that could stall accelerated hearing of the petition.

“We have to be careful to avoid unnecessary delay. There should not be any technical approach to issues. We, on our part, will endeavour to provide substantial justice at the end of the day,” Justice Mayaki stated.

Despite the fact that other petitions were also being heard over results of National Assembly and House of Assembly elections in the state, the governorship petition tribunal had since its inauguration has commanded huge attendance.

Whenever the tribunal sits, the police always have a hectic time controlling the large crowd who usually arrive the venue as early as 7a.m., awaiting the sitting that would commence by 10a.m. An Armoured Personnel Carrier (APC) with armed policemen is stationed in front of the gate facing the Olubadan Stadium and the route leading to NTC, barricaded with a detachment who frisk all vehicles that are allowed into the court premises. Many of the rival party loyalists used to clash, causing pandemonium in the area.

The rigorous screening of vehicle owners, as well as the crowd that besiege the venue on every sitting day brings decorum to the conduct of the audience at the tribunal venue.

With a lot of insinuations that Ladoja had a deluge of substantial evidence to reverse the

victory of Ajimobi, those averse to the style and administration of the APC are keeping vigil on the matter, expecting a new government to assuage their socio-political thirst.

The hope of many loyalists of the Accord party that the petition would drift in their favour considering the deluge of documents already presented before the court was however shaken on Saturday, August 15, when their main witness, Bimbo Adepoju, was cross-examined by the defendants’ counsel.

After a total of 292 documents had been tendered by Adepoju, admitted and marked as exhibits for the determination of the petition, he was cross-examined on the documents by the trio of Olanipekun, Akeredolu and Sikiru Sanni. The defendants capitalised on some disharmony in the figures of the votes contained in the INEC form, the voters’ register and the independent analysis submitted by the witness to justify the claim that the election results were manipulated in the disputed local governments.

Olanipekun identified some dislocations in the figures entered in the Permanent Voters’ Cards (PVCs) obtained from the INEC, the Form EC8A from the INEC and the record of analysis made by the witness himself. Adepoju, however, explained that some documents which would validate his claim were not yet to be released by the INEC. He added that he arrived at the position “based on available documents including card readers, PVC collected, registers of voters, FORM EC8A, and Incident form.”

When told by Olanipekun that he did not tender any Form EC8As from the INEC, Adepoju, who told the tribunal he obtained a Master’s degree in Public Administration from the Obafemi Awolowo University, answered: “Very well.”

He noted that such alleged gray areas would be cleared in the course of the proceedings.

Some areas of disharmony in the figures recorded which Olanipekun and Akeredolu pointed out included: Iludero Unit of Atiba Local government in Oyo town where 501 votes were recorded in the witness analysis, but which had 489 in the INEC Form. Six hundred and eleven votes were recorded for Ward 6 in Akinyele Unit in Ibadan, whereas there was no voter’s register available according to the INEC record. In an Oyo West unit, the total votes cast amounted to 258 according to Accord’s analysis, whereas it was 161 in the Form.

In Ibadan North, Unit 005, 317 votes were recorded in the witness analysis document, but 185 was seen in the INEC form. Similarly, the total number of votes rejected in the witness analysis of Oyo West, Unit 001 was 3, but 44 was recorded in the INEC form.

In Ibadan North also where the witness recorded nothing for valid votes, Akeredolu asked whether election did not take place there, and the witness said: “We recorded nothing there because we did not have Form EC8A.” The witness however said that all those areas of doubt would be straightened out and that at the end of the matter, “the tribunal and everybody would see that Accord won the election.”

During re-examination of the witness by his counsel, Ogunwole, there was an argument on whether there was any area of ambiguity which the petitioner intended to straighten out since his evidence was explicit enough. The tribunal doused the heat when it directed that any gray areas should be taken care of at the final address by the counsel on both sides.

The matter still continued on Monday with the petitioner allowed to call more witnesses before the respondents would take their turn within another 10 days allotted.

INEC chair: Will Buhari heed Reps’ counsel?

C O N T I N U E D F R O M PA G E 9

the politicians.” They noted that in some states, winning elections was for the highest bidder courtesy of corrupt RECs, who were out to do anything for money. They also accused administrative secretaries and electoral officers at the state of being culpable of the corruption at the commission.

The aggregate submission during the debate on the motion was that no one at INEC should be made the substantive chairman. Instead, the lawmakers prefers that the president should shop for competent candidates from outside as it was done by former President Goodluck Jonathan in appointing Jega from the academia.

But, the resolution by the House is just a mere advice and is not binding on the president to implement.

Hence, he may not be disposed to buying into the thinking of the lower chamber. Perhaps, when standing committees of the House are constituted, the relevant committees will take up these issues as part of their oversight functions.

Politics 13

NEW TELEGRAPH WEDNESDAY, AUGUST 19, 2015

Day Dogara became floor member PHILIP NYAM writes on the significance of the motion by the Speaker, House of Representatives, Yakubu Dogara, which led to the resolution of the House calling on President Muhammadu Buhari to initiate the process of reconstruction and rehabilitation of the North-East

I

n the history of legislature in Nigeria, no speaker of the House of Representatives has done what Hon. Yakubu Dogara did last week when he stepped down from his presiding position to take up a seat on the floor.

In 2007, when the first female speaker, Hon. Patricia Olubunmi Etteh was made to step down, it was not on convivial grounds.

Etteh was compelled by circumstances at the time to set up an ad hoc committee to investigate her.

But the action of Dogara was not under any compulsion. He voluntarily left his seat in order to be better positioned to represent his people.

It was unusual but it brought to the fore the humility, commitment and passion, which the speaker have for work as a legislator and people of Bogoro, Dass/Tafawa Balewa federal constituency of Bauchi State.

Dogara hails from Bauchi State, in the North East – a region ravaged by the Boko Haram terrorist activities. Touched by the sufferings of the people of the area, the speaker originated a motion on the “Rehabilitation, reconstruction, recovery and development of the North-East zone of Nigeria.” The motion also brought to the fore the resolve of the Eighth National Assembly members to work together for the unity and development of the country. Before the speaker took a seat on the floor, the House leader, Hon. Femi Gbajabiamila raised a point of order complaining that such a motion should have the input of every member of the House because all Nigerians were concerned about the destructive activities of insurgents in the region.

Gbajabiamila’s point of order became necessary because only 87 out of the 360 members of the House were initially listed as cosponsors of the bill with Dogara.

As the House leader who presents the position of the government on the floor, his name was missing from the list too. His point of order was sustained by the deputy speaker, Hon. Yussuff Lasun, who assumed the presiding position.

Consequently, it became a motion of the entire House. This was also historic because even the famous anti-removal of subsidy motion of 2012 when the House sat on a Sunday to protest the sudden complete removal of subsidy on petroleum products by then President Goodluck Jonathan was not sponsored

Dogara

Lasun

by the entire membership of the House.

The motion Dogara noted that the terrorist activities of Boko Haram sect in most parts of the North-East comprising Borno, Yobe, Adamawa, Gombe, Bauchi and Taraba states “since 1999 has devastated most parts of the zone, resulting in the death of thousands of people including boys, girls and children generally women and other vulnerable persons in the society.”

Presenting the motion, the speaker regretted that the terrorists have destroyed houses, homes, settlements, communities, villages, towns, cities, markets, schools and educational facilities, hospitals and health institutions, factories, government buildings and facilities.

Other things destroyed by the insurgents according to the speaker include, roads, bridges, water facilities, electricity network and power installations, police and military bases, vehicles and other security and telecommunication infrastructure.

Speaking further on their atrocities, Dogara said such include massacres, burning down of entire villages, attacks on protected sites such as places of worship and the slaughter of persons taking refuge in such sites; torture, cruel and degrading treatment; abduction on a massive scale, including children; forced displacement, child recruitment and extremely severe and widespread violation of the rights of women and girls, including sexual slavery, sexual violence, forced marriages in violation of human rights and international humanitarian law.

Dogara reminded that “the abduction of 276 teenage girls from Chibok in April 2014 has been the largest single incident so far, and 219 of those captured are still unaccounted for.”

According to him, the activities of Boko Haram have led to the displacement of about five million people and creation of Internally Displaced Persons (IDPs) camps in many places, the vast majority of them are women and children.

“The Boko Haram terrorist activi-

The failure to define roles and responsibilities continue to hamper the humanitarian and development response

Gbajabiamila

ties have forced a huge number of people to flee to other parts of the country and many have taken refuge in our neighbouring country’s of Chad, Niger and Cameroun and even Burkina Faso.”

The speaker also expressed concern that the economy of the North-East has been devastated and largely destroyed as investors, businessmen, managers and employees have fled in droves. According to Dogara, “this destruction has had a major impact on the economy of the region as it has led to severe food shortages, unemployment in a region that has traditionally produced cash and food crops across the sahel.

Agricultural and other economic activities have suffered and poverty has worsened.”

He lamented that there is no law or policy framework setting out responsibilities in terms of internally displaced persons protection or assistance. “The failure to define roles and responsibilities continue to hamper the humanitarian and development response, requiring a holistic approach towards durable solutions and efforts to prevent and prepare for future displacement.”

In unanimously adopting the motion, the House requested President Muhammadu Buhari to facilitate the convening of an international donor conference or summit as soon as possible for the reconstruction, rehabilitation, recovery and development of the North-East ravaged by the Boko Haram insurgents.

The summit, according to the House, would be to mobilise additional financial resources through international donor funding from the United Nations agencies, multilateral and bilateral partners among others. It requested the Federal Government to map out a development agenda for the NorthEast as a result of the Boko Haram insurgency ravaging the region.

The House equally urged the government to give priority attention to the rebuilding of all the schools destroyed by the Boko Haram insurgents and facilitate scholarships up to university level for children of the victims The House said the agenda, which should cover all the six

North-East states of Adamawa, Bauchi, Borno, Gombe, Taraba and Yobe must have specific targets, funding and deliverables that are guided by reconstruction of homes, villages, towns and infrastructure; repatriation of people to their homes and villages and rehabilitation of people, communities and livelihoods and economic as well social development.

The House also urged the Federal Government to consider building a North-East highway, linking the capitals and major cities of all the six states and reviving agriculture in the zone through the completion of the South Chad Irrigation Project, which is one of the largest irrigation projects in Africa with 22 million people depending on it, and other agricultural projects, in order to open up the economies and fast-track the socio-economic development of the zone.

Similarly, the lawmakers urged President Buhari to set up the machinery for the establishment of a North-East Development Commission, through an executive bill as soon as possible to take care of the reconstruction, rehabilitation, recovery and development of the North-East zone with robust financing mechanisms which shall include a percentage of the Reserve Fund, special contribution by companies, donor agencies, international non-governmental organisations (NGOs), development partners and other funding options that meet the challenges facing the zone.

The lawmakers commended all stakeholders, especially the security agencies and others, who have in one way or the other contained terrorist attacks in the North-East and have contributed to the welfare of the internally displaced persons and other victims of the Boko Haram insurgents.

Apart from the importance of this motion to the unfortunate development in the North-East, it is also one of the longest motions sponsored on the floor by any member.

Dogara’s action will go down in history as an enviable move by a presiding officer.

MORE STORIES ON pageS 35-36

14

WEDNESDAY, AUGUST 19, 2015 NEW TELEGRAPH

Opinion

Buhari: The return of Baba Discipline

Niyi Akinsiju

O

ur national power generation is said to have peaked at 4, 600 megawatts an impressive threshold not ever attained before now. Observe the feverish battle to sustain the value of the Naira, plus the gladdening news of accretion to the foreign reserve, a reserve that had laid dormant some eight months earlier. And we keep hearing the cheering news of the refineries firing back to life, some happy news of talking about Nigeria’s refining capacity, an object of discourse that had been absent on the menu of public debate over the last 10 years or thereabout.

And what more, not a few Nigerians had raised their brows one twitch more over the sudden increase recorded in money made available to the three tiers of government through the Federal Account Allocation Committee since June despite the volatility that has continuously buffeted the international price of crude oil, the national economic mainstay.

On the security front, the threat of territorial incursion by the Boko Haram insurgency is fast receding with the now constant cheery news of victorious engagements over the insurgents by the Nigerian armed forces. Plus this, the Nigerian national pride! Gradually, the Nigerian brand, ‘strong mental outlook, confidence and unputdownable,’ the true characterisation of the Nigerian personae is in resurrection. Nigerians are telling the world again, after the last six years hiatus, that ‘they are back’ to reckoning in the international space.

This is a brief of Nigeria’s progression under President Muhammadu Buhari in 90 short days. It is curious, however, that some interests talk glibly of the president’s administration not taking off yet. Particular reference is made of Bishop Mathew Kukah’s rage on Channels Television over the President’s preponderant focus on the fight against corruption and a dereliction of designing and making public a national blueprint for development.

Perhaps Kukah’s outrage is representative of some other individuals’ sentiments in evaluating the performance profile of President Buhari’s administration. Kukah, in that interview, declared that the President’s predilection for his anti corruption

fight should be mellowed in favour of providing good governance, accusing the President of lacking an economic and developmental blueprint in the same breath.

As it were, Kukah’s declaration has also roused a tangential outrage in the public space. Not a few concerned Nigerians have raged over Kukah’s condemnation of the President’s concentrated fight to redeem Nigeria from the pangs of corruption.

Indeed, in present day Nigeria, especially, of the insipid sort inherited from the immediate past administration of Dr Goodluck Jonathan, no policy pursuit is significantly profound than hunting down those privileged Nigerians that had expropriated their privileged positions to steal the nation’s collective wealth blind.

If Nigeria had not taken off 55 years after its political Independence, the direct culprit is unrestrained, monstrous corruption. The corruption that has supplanted the cherished values of the Nigerian universe, a permissive corruption that permeates the nooks and crannies of the Nigerian space, an all consuming corruption that decapitates the essence of good governance. This is how fundamentally perfidious corruption has been to the nation’s collective survival over the years. And why it must be treated with the unbridled malice the present Nigerian is deploying against it.

Rather than deride Buhari, he should be applauded, celebrated and appreciated. The truth is that if stamping out corruption is the only success his administration can record, he would go down in history as Nigeria’s saving grace, the author of a new Nigeria where values and ethics have taken pre-eminence over the shenanigans of the past.

As the President goes about the business of bringing to justice the tribe of those that had brazenly dipped their hands in the collective till of the people at whatever level, most Nigerians are thrown into a reminiscence of the first coming of Buhari as military head of state. That time when the term Discipline first made its way into the Nigerian arena in the equivalence of a liturgy so righteously enforced by the then Major General Buhari fondly reverenced back in those days as Baba Discipline.

Here we are, 30 years after, the Baba Discipline nos-

talgia is catching on with the re-enactment of Buhari’s principled battle against corruption. Thankfully, this constitutes the basis of the mass of Nigerians voting for him. By April 2015, Nigerians were out rightly exasperated with the old order of impunity and crass abuse of power. Most Nigerians rallied around Buhari because of his representation of modesty, frugality and a publicly acknowledged hatred for corruption.

These formed the pivot and the philosophical essence of the Change Nigerians truly voted for.

But then, and gratefully too, this President is giving much more, in terms of policies and process implementation. Now, for the first time since 2003 when the lucrative business of petroleum importation and the attendant subsidy regime commenced, a Nigerian government has declared that only the Nigerian National Petroleum Corporation will now be responsible for petroleum products importation even as all refineries are revving for increased production capacity. This is a clear headed policy position, one that tackles corruption in that government agency at the roots.

And so is the battle to sustain the value of the Naira through the various policies the Central Bank of Nigeria has introduced to contain the raid on the value of the Naira.

Yes, so the President is yet to announce his cabinet, and a number of people in the psychological docket of Kukah had disclaimed the purpose of the government. Curious perspective, what has a servant-master cabinet got to do with the efficacy of a government?

Obviously, the President’s head sits finely on him with his obvious decision to first understudy the Ministries and Agencies for proper understanding and appreciation of their status and capacity. As Chief Executive, the President determines the direction of his government and must, therefore, be enabled enough to decide the briefs and targets he will be handing over to his Ministers when he eventually appoints them.

Deriving from this is the fact that it is wrong to ascribe sloppiness to this government because of a perceived lateness in constituting his cabinet; it’s simply another mechanised blackmail against a government that is working.

• Akinsiju, a public affairs analyst writes from Lagos.

No rebel states in South-East (2) Mecha Udo C O N T I N U E D F R O M Y E S T E R D AY

O

ur brothers and sisters in commerce and industry were no longer sure of the fortunes of their enterprises, as the only industry that seemed to thrive then was corruption at all levels of governance resulting in blatant impunity that destroyed and frustrated all that is noble and decent in our society. The South Easterners therefore desired change more than anyone else.

South Eastern groups and individuals were also in the forefront of the clamour for this change. The region may not have had such change Generals like now President Muhammadu Buhari himself from the North West, or Asiwaju Bola Ahmed Tinubu of the South West, but there were discerning South Easterners who fought assiduously for this change.

Some groups such as the Igboekulie Association were unrelenting in countering the propaganda machinery of the South Eastern bourgeoisie who favoured the status quo as it then was, the voices of individuals like those of Chief Ralph Obioha, Dr. Chris Ngige, and Dr. Pat Utomi amongst others rang out loud

and clear in pointing the direction out of the woods, advancing the candidature of then Gen. Buhari and also exposing the dangers inherent in sailing in the sinking ship of PDP with Good luck Jonathan as Captain.

The fact also that the APC itself did not seem to have done much in garnering support from the South East created the misleading impression that the rogue PDP candidates were preferred.

As we await the verdicts of various tribunals in the South East, we have absolutely no doubts in our minds that the real voting pattern in that region will be revealed. The near absence of an opposition watch dog in the region also created an enabling environment for the PDP to unleash all sorts of electoral malfeasance on the electoral conduct itself, sometime in brazen connivance with officials of the Federal Government.

Stories of coffins being used as ballot boxes, with charms, cutlasses and guns serving as electoral materials are very rife, so are reports of the production of electoral results without any elections whatsoever.

While a few South Easterners may have expressed concern as to whether or not the South East will be marginalized under the new dispensation, the

fact remains that the constitution of the Federal Republic of Nigeria and other enactments have made provisions for some form of equity and fairness in the handling of the affairs of the country.

We also believe that the government would be shooting itself on both feet if it ignores the potential and prospects in the South East, the determination, doggedness, brilliance and commitment of its people, their pan Nigerian nature and their industry at this time that the nation needs its best hands, brains and minds. Nigeria cannot afford to ignore and should not be led to ignore the very deep well of human and other resources that the South Eastern region brings to the union.

The President has confirmed that he cannot contradict himself so his saying that he belongs to nobody, but belongs to all supports the expectation of a fair deal for all component parts of the country. The South East therefore, cannot be afraid of marginalization.

Our president is set to develop Nigeria as a nation and not parts of it, he is obligated to deliver all Nigerians from the pangs, pains and vicissitudes of hunger and social vices, he is determined to take Nigeria to that enviable height that we have so often dreamt of, but have only

experienced its absence. The President and his political party are opportune to put a lie to the negative propaganda of the South Eastern mercantilists masquerading as politicians by bringing development to the South East. Those expressing concern are the political traders who can no longer hawk the spirit of the region for a few shekels of silver and gold as they did in the past. These are persons belonging to the same brigand that wasted the resources allotted to the region by their political godfathers; they represent no one, and stand for nobody.

The real South Easterner appreciates that a corruption free, equitable and well governed nation as the President has committed to deliver will benefit the South Easterner more than the arbitrary tendencies of the past.

To Chief Onabule; the South Eastern region is not a rebel region in this dispensation as opined in that piece; instead we are a critical factor in the advancement and development of the nation even at this time. We do not need to be patronized for we know who we are and what we bring to the Nigerian table.

Concluded • Udo (m.udomecha@gmail.com) wrote in from Abuja.

15

EDITORIAL

NEW TELEGRAPH WEDNESDAY, AUGUST 19, 2015

Our VISION To build a newspaper organisation anchored on the sanctity of truth.

Three things cannot be long hidden: the sun, the moon and the truth – Buddha

Sanctity of Truth

Our MISSION To publish a newspaper of superior value, upholding the fundamental ethics of journalism: balanced reporting, fairness, accuracy and objectivity.

E

Nigeria’s most authoritative newspaper in politics and business

Killing Alvan Ikoku’s dream

ducation is an important tool in the quest for national development. The Chinese proverb, “ if you are planning for a year plant rice, if you are planning for a life time educate a person “, aptly captures it’s essence. Today, government may be toying with education through a funny policy inconsistency.

One of Nigeria’s leading educationists and statesmen, Alvan Ikoku fought for the rights of teachers as a way of promoting knowledge. After establishing one of the early indigenous secondary schools in the country, the Aggrey Memorial College, Arochukwu[named after his hero James Aggrey, the Ghanaian educationist] in 1931, he worked assiduously to become a member of the colonial legislature, the Legislative Council of Lagos in 1947.

Part of Ikoku’s struggles led to the realization that an independent Nigeria would need a sound system of education to propel human and capital development. To this effect, in April 1959, Sir Eric Ashby was invited from Cambridge University to help realize this dream.

His Ashley Commission recommended among under things, the creation of higher colleges to train teachers.

According to the report which was submitted in 1961, Advanced Teachers Training Colleges should be established

in Lagos, Zaria, Owerri and Ondo. Beginning with Zaria, the recommendations were adopted.

In 1963, the Eastern Region established the Advanced Teachers Training College, Owerri.

Technical assistance came from the United Nations Education Commission[UNESCO].

There was a site handy, Shell Camp, which had been built by Anglo Dutch oil prospectors Shell d’Arcy, welcomed the first set of 150 students with UNESCO consultant, A.J. Brooks, as first principal. The Civil War affected the running of the college as it was shut until 1970. Ikoku died a year later.

East Central State Administrator, Anthony Ukpabi Asika upgraded the school to a College of Education by virtue of Edict Number 11 of 1973. To honour Ikoku post humously, it was renamed Alvan Ikoku College of Education[AICE] and by 1974, renowned educationist, Prof. B.O. Ukeje ,stepped in as the first Provost. By 1976, the Umuahia Campus of the institution was opened to accommodate the School of Agriculture. In 1981, the Orlu Campus joined the expansion. However ,both campuses ceased to exist as from 1987.

The quality of teachers produced by AICE was so good that clamour for degree courses began in 1980. By 1984, AICE was affiliated with the University of Nigeria Nsukka , leading to the award of degrees in Education.

The call for a higher role for the institution continued. When an alumnus, Dr. Ihechukwu Madubuike was appointed Education minister by the Sani Abacha regime, expectations were high. Stakeholders tried to push the case for an upgrade.

They were right and determined.

Having nurtured prolific scholars like Prof. Nolue Emenanjo, and Prof. Ernest Emenyonu, it seemed that a university status was on the way. After leaving AICE, Emenanjo and Emenyonu later distinguished themselves in various universities at home and abroad.

Emenanjo became professor of Linguistics at the University of Port Harcourt and reference point in Igbo historical narratives. Emenyonu moved to the University of Calabar as professor of Literary Studies. By 2007, the much awaited Federal attention came when it was renamed Alvan Ikoku Federal College of Education.

The icing on the cake came this year,2015. On May 20, the Federal Government announced the upgrade of four Colleges of Education. Federal College of Education, Zaria, Alvan Ikoku, Adeyemi College of Education Ondo and Federal College of Education Kano, got the nod.

Minister of Education, Malam Ibrahim Shekarau said, “we come have a long way. The main teaching qualification in the 1960s from Grade Three to Grade Two up to Grade One and

currently the minimum teaching qualification has been the National Certificate in Education [NCE] but gradually, as a result of improvement in the system and demand for further qualitative teaching service, we are heading towards getting more graduates into the teaching profession and the earlier this is done the better and we are getting these universities to produce more of graduates.”

However, the joy in the East, especially in Owerri has turned to mounting tension following reports that the decision of the Federal Government may have been reversed. Recently, atmosphere was charged as lecturers and students took to the street to express displeasure over the perceived volte face by Education authorities.

While we await confirmation of the policy change, we condemn any ploy to deny Alvan Ikoku the much deserved recognition as a Federal University of Education.

At this period when the quality of our education is deplorable, more should be done to promote the education of teachers.

Government cannot be fighting corruption when it promotes policy somersault. There is no reason why there are Universities of Agriculture, Science, Technology and even Petroleum when we may not even have enough teachers to train students to gain admission to those institutions.

Indeed, Alvan Ikoku deserves a fair deal.

DAILY TELEGRAPH PUBLISHING COMPANY LIMITED Managing Director/Editor-in-Chief

Funke Egbemode

Editor n Yemi Ajayi

Editor, Saturday n Laurence Ani

Editor, Sunday n Emeka Madunagu

Deputy Editor n Emeka Obasi

Deputy Editor n Ayodele Ojo

News Editor n Geoffrey Ekenna

Bureau Chief, Brussels n Leo Cendrowicz

Bureau Chief, Washington DC n Marshall Comins

Editorial Coordinator, Europe n Sam Amsterdam

Bureau Chief, Abuja n Onwuka Nzeshi

Business Development Manager n Taiwo Ahmed

Sales/Circulation Manager n Oyebanji Abiodun

Head, Graphics n Timothy Akinleye

Head, Admin. n Robinson Ezeh

WEDNESDAY, AUGUST 19, 2015 NEW TELEGRAPH

16

Arts

Book Review

Overcoming failure in examination T unde Ogunsola’s new book, Secret Behind Examination Success, is a commendable effort by the author in a situation where students no longer want to read but make good grades in both internal and external school examinations over the years, with the connivance of some shameless teachers and unprincipled parents on one hand and the students personal laziness on the other.

Divided into 12 chapters with topical headings such as The Concept of Examination Success; Understanding and Application of Examination Techniques; Concentration and Curbing Distractions; Overcoming Comprehension Difficulties and Sustaining Growth in Reading; How To Become a Fast Reader; Your Path To Academic Excellence, amongst others, the book brings to the fore how over the years, Nigeria has recorded poor performance in public examinations.

Ogunsola however, points out that despite the huge deficits in the education sector; some sterling individuals are making outstanding progress in their examinations. He says “Every year, such students prove their academic prowess by their uncommon performances.”

The book highlights the legal things and techniques that honest students are doing well, strengthening them to excel, which others that are struggling to succeed could apply to achieve their academic goals too.

Commenting on the standards of secondary school education as yardstick for admission into higher institutions of learning in Nigeria, Ogunsola posits that “It is an established fact that students’ performance in public examination especially the Senior Secondary Examination (SSCE), is one of the criteria for measuring and establishing the effectiveness or otherwise of Nigerian secondary schools and the prerequisite for gaining admission into ter-

TONY OKUYEME Arts Editor tony.okuyeme@newtelegraphonline.com

© Daily Telegraph Publishing Company Limited

tiary institutions.”

It is on this basis that many lazy students do all sorts of illicit and condemnable things to get the necessary grades in English and Mathematics including three other relevant subjects in order to be eligible for admission into Nigerian Ivory Towers. Unfortunately, some also buy their way through by giving money to admission officers and lecturers who allow them to be enrolled as students even when some could barely write two sentences without committing terrible blunders.

Hence, apart from the earlier aforementioned topical headings, the author pinpoints the mastery of common examination terms, how to answer mathematical and scientific questions, how to develop positive attitude towards studying and examinations, the secret of how to successfully understand oneself, techniques of effective study, and computers as personal educational tools, as remedies to perennial failure by conventional students and mature people who write professional exams from time to time.

Remedies to examination failures are replete in the book like a doctor’s prescription for medical ailments. Both intellectual and academic analgesics, injections, vitamins and what have you that neutral-

ize laziness and fear to study to achieve academic goals without engaging in nefarious means to excel, are well dissected and explained with electrifying analysis and simplistic use of elegant diction for the basic understanding of any average reasonable reader.

The author’s effort is commendable as he tends to always use his intellectual works to encourage and develop the moral, academic and social lifestyle of the average Nigeria youth or student.

Apart from being the Editorin-Chief and publisher of The Nigerian Education Times magazine, the author is also a traditional title holder, the Balogun Apesin of Ode-Omuland, who had published a book titled Letter To The Nigerian Youth, in the recent past, to foster discipline and positive character of Nigerian youths.

He studied Guidance and Counselling at the University of Ibadan, and also holds a Masters degree in the same discipline and Mass Communication from the University of Lagos as well.

Nonetheless, he is a member of the Counselling Association of Nigeria (CASON), Nigerian Union of Journalists (NUJ), and he is the current President of Association of Education Journalists (AEJ).

He is married and lives in Lagos with his family.

Book title: Secret Behind Examination Success Author: Tunde Ogunsola Publisher: Education Times Publication Number of pages: 304 Year of publication: 20015

Reviewer: Adjekpagbon Blessed Mudiaga

Love, tolerance as panacea for peace, harmony in family

Book title: Tales Of The Wind Author: Makepeace Deorgi Publisher: Kennyson Bookerville House

Number of pages: 176 Year of publication: 2013

Reviewer: Oladipo Kehinde

The author urges family to live in peace and harmony

T

ales Of The Wind is a novel that depicts the plight of women folk in the Nigerian society. In an ideal society, women and children are being protected. Makepeace offering has given an insight on how to stem the squabble and unsavory situation between couple. We are creatures of emotion and tolerance is the panacea to human complex relationship. The author urges family to live in peace and harmony. A house divided against itself cannot hold.

The author has laced this lucid tales in four thematic movements namely: “As A Child”, “As A Teenager”, “As An Adult” and “Epilogue”.

The narration metamorphoses into an artistic whole.

Mary cleaves to her husband in spite of the ill-treatment dole on her. We are living in a society where we unanimously believe a man can piss and walk at the same time and a woman cannot. A man is nothing without a family. A man

needs a woman to raise a family. Chris, the man of the house, let things to fall apart, because of his extra -marital affairs. Amid a series of hardship, Mary wanted the best for her children, but he could not cater for the home front.

The author craves that marital violence is blight on humanity. Poverty is a destroyer of lives. To say the truth in few words, only few ladies would like to marry a man like their father. Chris maltreated his wife and daughter and appraises the boys. This is a book of a relative problem in our society. It is witty, a delight of reminiscence with a straight forward language.

Tales Of The Wind portrays the reality of womanhood as the epilogue reads in page 172 “Yes, she was free. That was all she wanted to be: free from self-imposed slavery. But then at the back of her ears she hears the voice speak ever so softly, ‘should you not have stayed? ”

NEW TELEGRAPH WEDNESDAY, AUGUST 19, 2015

17

The Mega City ...EXCLUSIVE LAGOS MAGAZINE

Back to their old ways A company of beggars at the median at Ikorodu

Old habits, as the saying goes, die hard. With the enthronement of a new government in the state, Lagosians are going back to the old habits which were fiercely fought by the immediate past government in the state. Elijah Samuel reports

T

hat the last administration made effort, at different times, to curtail the flourishing of some certain insidious socio-economic vices in the state is no longer news. Under former Governor Babatunde Fashola (SAN), the menace of

LIFE IN THE CITY Arm for a house 23 MY CITY MY WORLD There is no place to compare to Lagos 23

OLUWATOSIN OMONIYI CITY Editor

tosin.omoniyi@newtelegraphonline.com

© Daily Telegraph Publishing Company Limited

indiscriminate refuse disposal, noise and air pollutions, street begging, indiscriminate parking of vehicles, street partying and others were seriously tried to be eliminated or to reduced to an insignificant level. And really, it is somewhat attestable that there was a recorded success in curbing the menacing acts. It is for that purpose that relevant agencies, saddled with effective implementation of various policies and laws that are meant to instil sanity and ensure a safe environment for the citizenry, were set up.

But since the inauguration of a new administration, being led by Akinwunmi Ambode, not a few residents are now getting upset with the unfolding gradual relapse to the old culture. Across all spheres, residents reeled off tales of apprehensions, worries, displeasure about the state of things in the state.

Jide Atanda, a resident of Ketu told New Telegraph, while bemoaning the chaotic traffic situation in the Ketu-Mile 12 axis that “the government should act fast and save Lagosians from irresponsible and reckless acts of commercial bus drivers in the state. “These guys are lords on the roads as no one seems to be in charge to check their abnormalities on the road. It is a common scene on the Ketu-Mile 12 nowadays to find one way driving by the commercial bus drivers. It is dangerous because they drive as if they are under the influence

Blame inconsistent government laws and policies for this nuisance

of drugs: the pedestrians that are walking on the median are regularly endangered as they have to scamper to safety to avoid being knocked down. It is even more worrisome that the recklessness is perpetrated in the presence of policemen and LASTMA officials. This calls for immediate attention of the government as the relevant agencies seem to be lost on what to do.”

Also, Nonye Anthony, who lives in Ago-Okota, Isolo is worried that the government has abandoned its constitutional obligation of ensuring orderly living and sane conduct in the activities of its citizens. To him, the traffic recklessness that has become a recurrent feature on Apapa-Oshodi Expressway is exasperating. “If you go to Oshodi-Apapa Expressway, you will see the way commercial drivers throw caution to the wind in the name of wanting to earn a living. Because of the traffic gridlock that has refused to go away on that road, drivers engage in brazen drive against traffic. This is more noticeable in the area around Cele Bus-Stop and on top of Okota-Itire Link Bridge. It is terrible because security agents all seem to have been bought over. Besides, the commercial motorcyclists have gone back to operate on those prohibited 475 roads across the state. The government should not trivialize the wellbeing and security of the residents,” Anthony said.

More still, the situation

whereby the state landscape is now being turned into dumping ground for all manner of serviceable and unserviceable vehicles is seen is discomforting and deplorable to residents.

Dede Mark, an engineer with an automobile service company on Apapa-Oshodi Expressway, expressing displeasure at the manner imported vehicles are brought into the country to constitute environmental threat, took a swipe at the government. “It is disheartening to find every available space in the state occupied with imported second-hand vehicles.

Some of these vehicles, in the first place, shouldn’t have found their way into this country.

They are everywhere you go in this state. For instance, the stretch of Apapa-Oshodi Expressway is replete with these vehicles that can be seen as environmental threat. There are many warehouses where these imported vehicles are dumped.

The activities of the warehouses on this very important road, especially at Ijesha, Odolowu, Toyota Bus-Stops is a testimonial to the menace that we are talking about. You can see the breakdown of order and impunity that have taken over Toyota Bus-Stop. It is an eyesore on such an international route like that.

But blame inconsistent government laws and policies for this nuisance.”

CONTINUED ON PAGE 18

18

Life | Mega City

WEDNESDAY, AUGUST 19, 2015 NEW TELEGRAPH

CONTINUED FROM PAGE 17

Street Begging

Although public begging is as old as time itself, it’s ever-present and itinerant. At a time, effort to rid the metropolis of beggars saw a number of beggars apprehended and taken to rehab centres while some were repatriated to their states of origin, an action which received widespread condemnation. But now, beggars seem to have regrouped and are back on their old spots and major highways. The need for survival in the midst of financial want has been adduced, by some beggars, as one of the reasons for their unceasing act of begging that pervades the megacity.

Hajia Rukkaya Abdullahi, is one of the numerous beggars, who lined the pathways at Ojuelegba in Surulere. She attracted the attention of passers-by to her plight, her alleged blindness, in a sonorous appeal. After a measure of acquaintance had been made, she tersely responded to inquiry on why she was there. “There is nothing to do; we must look for how to get money so that we can survive. That’s why I come here regularly to beg for alms from the people that are passing by, so that we can take care of ourselves.”

Another beggar, Musa Ahmed, apparently without any physical deformity but old, was accosted at Oshodi. With a N50 note given to his palm, query on his purpose for being there was met with a grin.

He explained: “I beg for alms because there is no money; I am old and I can’t engage in any other work outside begging.” Whether he doesn’t fear that he could be picked up by the state environmental task force, Ahmed was reluctant to respond.

Indiscriminate refuse disposal

Animal rearing in a street at Pako-Aguda, Surulere

Return of impunity

residents don’t find them coming around to collect the refuse, they will just find some places on the road within their neighbourhoods where they dump the waste. It is not always pleasant because of the stench that emanates from such unwholesome heaps.”

Another concerned resident, Ade Olude, a banker, also said that it is not only indiscriminate refuse disposal that constitute environmental pollution. He identified and condemned the widespread practice of animal husbandry whereby animals like rams, sheep and goats are being raised without consideration for the health of the residents.

“It is not only indiscriminate disposal of refuse that constitute threat to the healthiness of the residents. When you go to most areas in the state, you’ll find people trying to keep animals such as goats, rams and sheep in the neighbourhoods. They will just make mangers in front of their houses and start raising these animals. At times, some of them stray and disturb the peace of the people in the neighbourhoods. How come there is no more regard for decent living in the state. This is supposed to be a city where we have a breadth of decency,” Olude stated, adding that “the government seems to have given in to this anomaly as you find out that it is widespread and getting to every nook and cranny. There should be a halt to this practice because it is not complementing to the megacity

dream; besides, they may pose health risk. The government can enforce strict regulation.”

Noise pollution

It has regressive effect on the body system

Indiscriminate disposal of refuse is another eyesore that is pervading several parts of the metropolis. In most residential areas and major roads, unwholesome sight infuriates any sense of hygiene. Reasons like irresponsible disposition of the citizens, government’s seeming laxity were adduced as factors being responsible for the environmental anomaly.

Roselyn Ukpabi, a resident of NNPC-Ejigbo, expressed dissatisfaction about littering of most areas with dirt. “It is not good that a state like Lagos is still grappling with how to keep the landscape free from being littered. Although the government has majority of the responsibility of making and implementing environmental laws that seek to protect the environment from being messed up the way we are seeing it today, the people themselves must be responsible and patriotic to protect their surroundings. The orientation of the people must change, the government also must be assertive in enforcement of the law. The government’s posture is also responsible for the way things are. When the governor is firm and set the tone for governance, every other person will fall in line.”

Oluseun Sunday, a public health official in the state, lamented the seeming dereliction of duty of waste evacuation in the state.

“The private refuse operators that are saddled with refuse collection are not always forthcoming in Refuse disposal on a walk path at Iyana-Itire, Mushin this responsibility. So, when the

The multitude of the religious houses, especially the churches and the mosques which dot the length and breadth of the state landscape, have been found culpable of noise pollution which is noted to be harmful to health.

Emphasizing the essence of effective dissemination of messages of their different faiths, many religious clerics equally admitted that unregulated noise could actually be harmful to man. So, they variously posited the need for the churches and mosques to obey the state government in its effort to enforce sanity in the residents’ coexistence, and that the church should be responsible by ensuring peaceful and harmonious relationship with the residents in the neighbourhood where churches are domiciled.

Adebayo Odofin, a minister in one of the Christ Apostolic Church assemblies in Surulere said, “It is good if the government has taken a decision to stop or reduce the effect of noise pollution. It has regressive effect on the body system. However, it is quite instructive to intimate ourselves about the essence of propagating the message in a manner that will not jeopardize the peace and health of the environment in which the church is domiciled. Our role model who is Christ Jesus has taught us to

be law-abiding always and obey constituted authority.”

He however added that “there is nothing the religious organisation could do to inhibit the implementation of noise pollution law by the government. The religious bodies are not the only culpable in the noise pollution menace, those selling musical CDs and street-party organizers also contribute to the malaise.

Nonetheless, we need to support the government in order to make the state worthy of living.”

Also, Apostle Samuel Mba of Prevailing Dynamic Assembly Incorporated believes that “Noise pollution is a general phenomenon, and everybody is culpable. But that is not a licence for the church to disturb the peace of the neighbourhood in which it operates. I advise that the churches should limit their noise production within their halls of worship. The members are the immediate beneficiaries, but there may be people around, outside the church, who may also benefit from the message being released at any given time. However, it is only expected that the government regulates the churches to make their sound generation at a permissible minimum level.”

Yet, Alhaji Hassan Abdulrazaq Olawunmi, an Islamic cleric at Ayolo Central Mosque at Ijesha, corroborated Odofin on the view that the religious bodies are not the only culpable persons.

He canvassed an impartial but widespread clampdown on all those culpable in noise pollution.

He said: “As Muslims, we don’t generate noise more than those times when we have to make calls for prayer. There are also some monthly programmes like the Tahjud which comes at the end of every month. During those times of prayer, there may not really be any constitution of infringement on the peace of the neighbourhoods. Without being prejudiced, there are others who make more noise than we do.

Apart from the Christians whose modes of worship is different from the Muslims, most music and entertainment merchants and club houses which operate in the neighbours make most exacerbating noise.”

However, many of the residents share divergent views on factors responsible for the seeming surge of impunity practices in the state.

Babatunde Adewale, a historian and public analyst is not surprised at what is playing out. According to him, the fact that a new man has just taken over the saddle to steer the ship of a complex state like Lagos State could be an impetus for violators of the law. There are enormous expectations. “It’s expected because of the transition that has just taken place where a new man has come to take over a Herculean task.

Time and caution are needed for strategic planning. But when the new government stabilizes, things would normalize.”

With the seeming free reign of impunity spreading around the nooks and crannies of the megacity, law-abiding residents are in curious wait to see how this cosmopolitan state will be rid of all acts of impunity.

Life | In The City

NEW TELEGRAPH WEDNESDAY, AUGUST 19, 2015

I

t was a day of praises for the Managing Director /Editor-in-Chief of the SUN newspapers, Mr. Eric Osagie. Friends and colleagues felicitated with him over his new position. Cool, shy, dangerous, concise and punchy writings were the general words used to describe Osagie’s works.

Judging from the quality of testimonies about Osagie and the presence of dignitaries at the dinner get-together, it showed that Osagie is not only a seasoned journalist, but a man who cherishes, honours and maintains his friendship with his fellow journalists. It also showed that he is a man about-town within the media industry.

In his speech, Osagie admonished his colleagues and friends present to be nice to one another and bond together. “We are all one tribesmen,” he said. While expressing his gratitude to the organisers and friends, he said it takes people of excellence to recognise others, hence, he felt honoured for the get-together. According to Osagie, the get-together was the first ever party in his life. He didn’t expect it that big. “I am extremely delighted at the party,” he exclaimed.

He said he has always loved to operate at the background. For him, journalism is the best profession, but must be operated with clean and fair mind. He advised that the profession must not be operated in the realm of anger and vindictiveness.

He however seized the opportunity to advise journalists to always stand by the truth even if it means they stand alone, “sooner or later, others will join you,” he said.

The dinner party was well attended. Among the dignitaries that attended were Prince Tony Momoh, former Minister of Information and Nigeria’s leading expert in Media Law, Professor Tunde Fatunde of the department of Foreign Languages, Faculty of Arts of Lagos State University, LASU; Ray Ekpu, former Chief Executive Officer, CEO, Newswatch Magazine; Mohammed Gani Fawehinmi and the Police Public Relations Officer for, PRRO, Lagos Command and many others in attendance.

Momoh, while expressing his delight for Osagie, described him as a shy and dangerous man. Ekpu, while congratulating Osagie bemoaned a dying culture of the traditional journalism. The new media, he pointed out, is eating into the mainstream media. He questioned, “how do we have a regulatory media that looks into the mainstream media?” He added that there were five indices to having full body of professionalism in Nigeria. They include: body of knowledge, professional code of ethics, and body of professional canons. It also includes minimum entry standard and dis-

A toast to Osagie

19

Friends, colleagues gather to celebrate Managing Director, The Sun Publishing Limited, Mr. Eric Osagie. OLUWATOSIN OMONIYI reports

Osagie (middle) receiving a portrait of himself from colleagues

ciplinary body of professionals.

These factors, Ekpu believed, will strengthen the dying mainstream media.

Tony Iyare, former Special Adviser to Edo State government described Eric as a nosy journalist, who treats interviews and news analysis specially. For Iyare, Eric represents the best in the media industry. Just like Ekpu, Iyare complained that the mainstream journalism is fast dying with factors like journalists having too many cozy relationships and the entrance of new media. Interviews and news analysis, he said are becoming a dying culture. “Therefore, I urge Osagie to reinvent the mainstream media which is facing death,” he said.

Mallam Sani Zoro, former President of Nigeria Guild of Editors, NGE, and member, House of Representative, expressed concern for Osagie that, “what next will you do after the newsroom?”. He advised that Osagie should begin to look forward to becoming something after the newsroom.

Fatunde believed that destiny has thus far brought Osagie to his present status. He used the opportunity

Laurence Ani, Editor Saturday, Telegraph with a Onuoha Ukah, editor of Daily Sun at the event

Osagie (middle) with colleagues

to inform the gathering that 62 million Nigerians cannot read and write in an advanced and knowledgeable environment. He therefore urged Nigerians to start thinking in investing in educational and vocational training as that was the story of South Korea, “else, Nigeria will be irrelevant in 21st century,” he said.

For Dele Ailemen, former Bendel State NUJ president, Osagie was born with a pen in his hands.

Osagie, he said, was always coming forth with good scripts that were acidic, concise and punchy.

Funke Fagugba, former chairman of NUJ, La-

L-R: Sani Zoro, Ekpu, Prince Momoh and Osagie at the dinner

gos State, said Osagie has remained focused and dynamic. She also threw the challenge to the Sun MD that he should think of a life after the newsroom.

However, it was a cool evening for Journalists, who could best be described as seasoned and veterans to gather and chat. They seized the opportunity of the gathering to reminiscence over their old times in the newsroom and experience on the job.

For the young ones among them, it was like learning at the foot of elders during the bantering. It was indeed a cool and relaxing atmosphere outside the tension of the newsroom.

20

Life | Mega City

WEDNESDAY, AUGUST 19, 2015 NEW TELEGRAPH

All gather to crown Kabir Shotobi, an engineer, as the new king of Ikorodu.

Elijah Samuel

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korodu was agog over the weekend as it witnessed the influx of visitors for the coronation of Engineer Kabir Adewale Shotobi.

Shotobi emerged and was crowned as the 19th Ayangbure, and the Ilufemiloba, Adegorushen V, after a keen contest amongst equally eligible contenders.

The process of coronation and crowning of HRM Oba Shotobi, which had earlier commenced with the traditional spiritual cleansing and prayers at Oloja’s Palace, Awofin, Ajina, Sunday, August 2, 2015 climaxed over the weekend with a grand coronation reception. The reception, which was held under tight security at the Musical Village, attracted important dignitaries and illustrious sons and daughters of Ikorodu.

The venue of the occasion at Musical Village, was under extreme security arrangement as stern looking security men and other local security outfits cordoned the area. It was a beehive of fanfare. Adorned in assorted textile materials, sewn in trendy styles, the invited guests painted the atmosphere in delightsome conviviality. They were also treated to various kinds of music.

King Sunny Ade was on top of his game as he got the atmosphere inside the hall electrified with old tunes which several guests found irresistible. In like manner, the scenery outdoor was that of fire as popular fuji musician, Malaika, took the centre stage on the field outside the hall, while a pocket of brass bands also reeled out common contemporary tunes to the people.

The earlier crisis in the Lasunwon Royal Family But the race to the ascension of the throne has been rife with acrimony among 24 eligible princes, all of whom are of Lasunwon Royal Family. After the submission of the list of the 24 contenders to the kingmakers, Shotobi was unanimously elected as the king. Thereafter, the immediate past governor of Lagos State, Babatunde Raji Fashola (SAN) promptly visited on Tuesday, May 26, 2015 and installed him as the

L-R: Iya Oba of Ikorodu, Alhaja Mutiat Ogbora, H.R.H Oba Kabiru Adewale Shotobi (Ilufemiloba) Adegorushe V, Ayangbure of Ikorodu and his Olori, Kudirat

Behold Ikorodu’s new monarch next king, with the presentation of staff of office. With that installation, it seemed that the anxiety and acrimony which the contest for the throne had generated, from the onset of the process, had been rested. But it was far from it, as court injunctions later was obtained by one Odupitan Eniola, one of the aggrieved persons, who is from the Lambo branch of the Lasunwon Royal family of Ikorodu Kingdom moved to stop the coronation of the new Ayangbure.

According to the injunction, Justice Olabisi Ogungbesan of the Lagos State High Court, Ikeja, last week Thursday, ordered that the coronation of the new Ayangburen of Ikorodu be suspended.

In her ruling, she stopped Shotobi from either “presenting himself for coronation” or “parading himself as the Ayangburen of Ikorodu, or actualising any recognition

A cross-section of Osugbo Ilu Ikorodu (the kingmakers) at the weekend

thereon as such or exercising any of the Ayangburen royal functions.”

I earnestly plead with all my brother princes to please sheath their swords

New Monarch appeals However, acknowledging the rights of the eligible princes of the Lasunwon Royal Family to the throne, and the need to disabuse the minds of all contenders from the disharmony and acrimony which the contest for the Ayangbure stool had engendered, Oba Shotobi had, in a statement issued, sued for peace and harmony.

“To my brother princes, I equally thank you for showing keen interest in the stool of our forefathers.

It is our birthright and it belongs to all of us. I recognise your desires, the resources, and the energy you all expended, which is an indication of the worthiness and significance of the throne. Having fought gallantly, and God has ordained His own, I earnestly plead with all my

brother princes to please sheath their swords but rather partner and collaborate with me to usher into Ikorodu a glorious reign of peace, harmony, tolerance and accommodation which are critical conditions for progress and development”.

Among top dignitaries at the occasion were Mr Mudashiru Obasa, the Speaker of Lagos State House of Assembly; Jimi Benson, representing Ikorodu Constituency at the Federal House of Representatives; Sanai Agunbiade, representing Ikorodu Constituency at the State House of Assembly. Others present at the occasion were Sen. Olorunnibe Mamora, Mr Seye Ogunlewe, Mr Femi Pedro, the former Deputy Governor of Lagos State; Princess Aderenle Ogunsanya, former Secretary to the State Government; Kaoli Olusanya, former commissioner in the state; and some traditional rulers and chiefs.

21

NEW TELEGRAPH WEDNESDAY, AUGUST 19, 2015

Alade Market: Why we are not moving to new site – Traders Muritala Ayinla

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bout 200 metres away from the popular and controversial Alade market are blocks of shops proposed for the relocation of the traders operating there. The new site is located in low line area near the major drains which connects the storm water from Aromire, Awolowo Roads and their suburbs in Ikeja with Odo-Iya Alaro canal down to the lagoon.

Linking the proposed New Alade Market from Afolabi Aina street is a narrow road beside which are large drains through which storm water flows to the major canal beside market.

Along the narrow road leading to the new blocks of shops were hemp smokers and gamblers as well as lottery players and suspected miscreants, hanging around in search of unsuspecting pedestrians to victimise.

The construction work is still ongoing in the market while the sand-filling of the canals and reclamation of the land is also yet to be completed as truck loads of sand were still being used to level the ground and fill parts of the canal.

New Telegraph observed that the process has reduced the width of the canal especially in the sand filled areas. Some shops are already fixed with iron doors while others are yet to be fixed.

But in spite of the intensive construction work going in the proposed Alade Market ahead of the 60-day ultimatum issued by the Ikeja Local Government to the traders to vacate their shops for the new one near the canal, traders appeared unmoved by the threat to demolish their market for a new ultra-modern shopping mall.

According to one of the traders, Mrs Kupoluyi Foluke, the traders are not moving to anywhere in spite of the threat. She said the location of the proposed new market is not habitable for living and trading.

Mrs Kupoluyi said:” We cannot go into the canal; we can’t go to that place. It is not environmental friendly at all. Only animals can stay there. If what they are saying is a face lift for Alade Market, we will do it by ourselves. Let them give us the template they want. We will do it but nobody can evict us from our shops”.

She added that it was unfortunate that the call for their relocation became intensive shortly after the 2015 general elections, adding that there was no call for their relocation before the polls.

“It was immediately after election that the crisis over the relocation and redevelopment started. We asked Ambode Campaign Group that we will not like to be disappointed after the election, the group assured us that there will be no qualms and that the

Uncompleted site of the new Alade Market

planned redevelopment and relocation of traders was not in their agenda.

“I wonder why some people will think they can cheat their fellow human beings.

Democracy is government of the people by the people. The Executive Secretary of Ikeja Local Government can’t claim that the market is his personal property. He will be moved away after a while. Owooniran and Odunlami were there before him. Tomorrow it will be someone’s turn.”

Corroborating Kupoluyi, Mrs. Sunlola Odunsi-Dania said that the renewed clamour for their eviction would not succeed because the traders in the market are ready to resist any move to demolish their shops.

“We are women and breadwinners in our various families. Many of us are widows and we survive and raise our children from our businesses in Alade Market. How can they now come and say we should vacate our market to another shops built on disputed land?

“We can re-develop Alade Market by ourselves. We shouldn’t be denied our shops, if they are not satisfied with our redevelopment plan, let them give us a template, we will develop it in collaboration with several multi-nationals that have indicated interest to assist us.

The traders said that Ikeja Local Government and the Developer, Layi Omotola are not ready to meet the condition given to them before relocating to the new market.

According to them, the council and the project developer agreed to provide three linking roads to the market; a bridge across the canal to connect to the second wing of the market; security and a 350KVA generator before they relocate to the new place.

They wonder how the condi-

Developer wanted us to pay N150,000 each to enable him complete the shops

tion would be met within 60 days ultimatum.

Meanwhile, as the traders are resisting relocation move, Managing Director and Chief Executive Officer, Masters Reality International Concepts Limited, Engineer Layi Omotola is saying that the continued resistance of the traders constitutes losses to his company.

According to him, the N7 billion redevelopment project under Public Private Partnership, PPP agreement was awarded to the company in August 17th, 2010 under 30 years concession development of the market.

Lamenting that the traders had been frustrating the project for too long, he said further delay in the commencement of the project would mean severe loss to his organisation owing to the instability of exchange rate.

He said:“ A foreign cashin flow of $50 million was obtained in 2013 with the exchange rate then pegged

Rows of shops at the new Alade Market site

at N175 to a dollar, but the exchange rate had skyrocketed to N195 to a dollar which has grossly affected the project. It gives us a concern if the dollar is not stable in the market.”

Meanwhile, the Executive Secretary of Ikeja Local Government, Adekunle Adeokun said that the council would have redeveloped the market on its own but the revenue generated in the market is not enough to do so.

He said:”The council would have decided to reconstruct the market but the annual rent paid by the traders cannot rebuild the market. The shop owners pay N7, 200 to the council annually, but they receive N500, 000 from tenants annually. Also, they pay N2, 500 for Klee klamps annually.

He stressed that council would have reviewed the rent but the state government has regulated the rent. And for years, it was not reviewed.

But the traders also accused the developer of demanding for N150,000 each to enable him to complete the new market. The move, they said was opposed to by the President General of the market men and women association, Mrs Folashade TinubuOjo. “The developer wanted us to pay N150,000 each to enable him to complete the shops. We pay N12,000 for lock-up shops and N7,200 for Klee-klamps and we all pay our taxes regularly.

The records are there and they are saying that they want to increase it but we don’t mind.

“Where we were asked to go is not habitable. The place is not sustainable at all. The buildings should not be there as structures shouldn’t be located on the drainage canals. What if another government comes and chases them out of where they and that it is a canal, what will come out of that?”

22

Life | Mega City

WEDNESDAY, AUGUST 19, 2015 NEW TELEGRAPH

M

ajority of these robbery activities take place at night when there is heavy traffic or at traffic lights junction where vehicles are mandated to stop, especially on lonely roads.

Some people have been waylaid while trying to turn their vehicles.

The robbers come in various forms: as beggars, vendors selling wares in the traffic snarl and as people waiting for vehicles at night. According to New Telegraph findings, many Lagosians have lost their vehicles and personal belongings at gun point to these traffic criminals while driving through Lagos roads.

Ijeoma Nnaji recounted an ugly ordeal in the hands of traffic robbers; “I was coming back from church in Mary land with my kids.

I was about to make a turn, around Sheraton Hotels into the road leading to Opebi when I saw two vehicles parked suddenly in front of me, obstructing me from turning. Being a woman and a typical Lagos driver I rained abuses on them. Instead of moving the vehicle out as expected, two men alighted from one of the vehicles in haste and advanced towards my vehicle. I immediately knew they were robbers, I looked back, there were no vehicles behind.

So, I made a reverse in full speed before the men could reach me or make any move. I exited via another route.”

Gbenga Olabode, who had just arrived from the US decided to take a tour round town at night in company with friends. On getting to Cadbury road leading to Alausa/ secretariat, they were stopped by the traffic light. “A man knocked on my glass; he requested I give him money which I declined. The man threatened in a high tone that I declined his request because he asked me calmly. There and then, I knew there will problem if I lowered the glass; To buy time pending the little time, that the green light comes on, I decided to ask my companion for money, I was on the verge of searching for money when the light turned green and I zoomed off immediately without hesitation.”

Traffic robbers are not perturbed by crowd; they rob private car owners more than commercial vehicle said madam Tutu Olayinka.

She continued, “I will never forget my experience along Lagos-Ibadan express way. My gold jewelries were pulled out from my neck and ear.

The most painful part was that people passed by and stared at them but didn’t come to my rescue. I bled profusely from my ear where the earring was pulled out; the hole where there was earring had divided into two.” She lamented that Lagosians are aware of this but they shut their eyes to victims of this incidents even when they witness it. According to Olayinka, Lagosians stand and watch people being robbed of their hard earned money and personal belongings everyday but they don’t react because they are trying to save their own heads.

Though, commercial vehicles are rarely victims of this incidents, Rosemary Perry proved otherwise as she told New Telegraph how she suffered loss from this robbers. “I am a business woman selling second hand clothes; I buy my goods from katangua market in small quantity.

This fateful day while going to the market as usual, I boarded a vehicle from Ishaga and sat very close to the window with my bag on my lap. On getting to the express way, there was a mild traffic snarl; a man selling

Traffic chaos

Robbing in traffic Traffic regulation seem to have gone from bad to worse in Lagos. It is fast becoming a haven for criminal activities.

The increasing presence of traffic robbers is becoming worrisome for Lagosians. Ruth Okocha reports handkerchief suddenly dipped his hand into my bag through the window and picked the black nylon I kept my money.

As he ran, the vehicle moved before I could scream. All effort to locate him failed. I cried my eye sore as I was rendered penniless.”

Shola Adetula, a worker with an Advertising Agency, told New Telegraph that he lost his phones while returning from office along Fagba road. Lamenting, he said, “the windows of my car was down and my phones were on the front seat. I saw a hand pick the phones. Immediately I got out of my vehicle and ran after the man shouting “thief ” at the top of my voice but no one came to my aid. I returned to my vehicle downcast. I was so surprised at how Lagosians can be towards a person in distress.”

New Telegraph gathered from Tutu Adesanya, a teacher with a private school that many traffic robbers pick charm, faeces out of greed. She narrated her hilarious experience while going home one Sunday evening alone Berger. “My six month old baby excreted in her diaper. I had to change it in the vehicle after which I wrapped it in a black nylon and dropped it on the back seat. I suddenly saw a hand pick the nylon, I laughed hard even when people sympathized with me.”

Most of the people who have lost their vehicles to traffic robbers did so because, they lack security tips on the road said a business woman who simply gave her name as Rachael while speaking to New Telegraph.

We have taken a decision to decongest the gridlock

“While I was driving home some months ago from Badagry, where I went to buy goods, I got stuck in traffic. Looking from my car, I noticed three men robbing the car in front. I knew my car was the next which made me skeptical. I decided to reverse knowing full well there were vehicles at my back. On the verge of reversing, I hit the vehicle behind and the vehicle hit another.

By doing this, I was able to attract the attention of drivers from other vehicles. On seeing this move, the robbers took to their heels.” Briefly, she said Lagosians have to learn several safety tips on the road while driving to be able to ward off robbers on traffic.

Meanwhile, the Lagos State Governor, Akinwunmi Ambode, dur-

Likely traffic robbers mingle with traffic snarl

ing the state’s security meeting last week, pledged to stop the menace of robbery in traffic. He promised to stop the activities of some persons posing as street hawkers to rob the unsuspecting public. Also at that meeting was the Lagos State police commissioner, Fatai Owoseni, who revealed that the meeting focused on the crime situation in the state with a focus on the menace of street-trading, land-grabbers and other security issues. “We have taken a decision to do all we can do to stop all the activities. First is to decongest the gridlock. Once we decongest, we would also reduce the incidence of people robbing motorists on the road and of course, the response time to distress call will be improved upon,” Owoseni said.

Life | In The City 23

NEW TELEGRAPH WEDNESDAY, AUGUST 19, 2015

My City, My World

Arm for a house

Gone are the days when it was difficult getting accommodation in Lagos. Nowadays, the houses abound almost in every look and crannies of the city, but it seems only the strong hearted and not the lily-livered go for it. Reason is because of exorbitant house rents. AYOMIDE SOLAJA reports

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ost Lagos residents are trooping out of Lagos to pricefriendly areas mostly MoweIbafo, a boundary between Lagos and Ogun axis. Here, a two bedroom for instance go for N100,000 or N120,000 as against N450,000 or N500,000 in good area of Lagos while a three bedroom goes for between N250,000 and N300,000 against N600,000 and N750,000 in choice areas of Lagos. While a mini-flat generally in Lagos start from N180,000 to N300,000 depending on the area, it goes generally for N50,000 to N80,000 in Mowe/Ibafo area.

Most houses in Omole Phase 1 are empty because of the high rent.

Most of the residents are shifting to Mowe/Ibafo because accommodation and lands are relatively cheaper. The migration has been caused by exorbitant rents charged by Lagos landlords. And with the current economy, things have become considerably harder for most Lagosians to cope with the high rise. For this reason, cheaper means of livelihood is being sort after. Mowe/Ibafo is cheaper and rapidly developing, hence the massive emigration from Lagos and high immigration into Mowe/Ibafo.

Arguably, Lagos State, Nigeria’s commercial hub is the country’s most active and most expensive rental market. The state government enacted the Tenancy Law which prescribes that a tenancy agreement should exist between the landlord and his tenants.

It also states that it is unlawful for a landlord or his agent to demand or receive from a sitting tenant, excess rent. The tenancy agreement also allows unreasonable increase in rent to be looked into by the court of law.

Adepeju Olabiran, an accountant, told New Telegraph about his ugly experience with the excessive rent charge. “I had only lived in Omole for one year and the rent was just N350,000 for a three bedroom apartment per annum. I paid this for my first year but when the rent was suddenly increased to N550,000 by the end of the year, I had to move out and I moved to Mowe/Ibafo where the rent charge is N250,000 per annum.” He also told New Telegraph, “I don’t think it is right for the rent to be increased before the end of the first three years. People have to plan ahead because we also have to feed our families asides putting a roof over their heads. When I first moved into Omole with my family, we were told that the rent increases after three years. So, it came as a great shock for me when it increased only a year after.”

Olajide Titus, a businessman,

There is no place compared to Lagos Stories by Elijah Samuel

O

A house in Lagos

says that landlords take advantage of their tenants as a means of exploitation. He told New Telegraph, “for five years now, my family and I have been living in Ojota. We live in a three bedroom apartment. At first, the rent was N250,000. So, I paid for two years. We are six tenants living in that compound. Surprisingly, after two years, we got a notice from the landlord that the rent had been increased to N500,000. The agreement I had with the landlord was that the rent will only increase after the first three years. The note also contained a complaint that part of the reason for the increase was so that the compound will be kept clean. I found this absurd because all of us, the tenants, make sure to observe sanitation every last Saturday of the month. I thought that that increase was only going to be a onetime exception, and that the rent would not be increased again until after three years, but I was wrong. Ever since then, the rent has been increasing every year. Currently, I’m paying close to N800,000 for rent.” When asked if he and the other tenants tried to discuss with the landlord about the increase, he said that they did but it was to no avail. “He threatened to call the police to kick out anybody who refused to comply.

About two of the tenants packed out last year, but the rest of us have to comply with the yearly increase,” he said.

According to Nike Ajibade, a fashion designer, she lived in Oregun for eight years and she has never had any issue with the landlord until recently. “Since I have been living there, I have not had any issues as regards paying rent. I always pay my rent on time and a few times when I delay, I appeal to the landlord to give me one month at least, to pay

Ogunfowakan

up. Our landlord was a very understanding man. As such, does not like any problem. It was painful when the old man died. His children took over and everybody thought that the rent would remain the same and that there wouldn’t be any problems. But to everybody’s shock, they gave all the tenants a quit notice. It was so abrupt because it was a one month quit notice and in this Lagos, it is difficult to find a good apartment at a cheap price. We pleaded and pleaded but it fell on deaf ears. Right now, I am running helter skelter to look for an apartment to rent at an affordable price. I am a single parent and my children and I cannot live under the bridge,” she said.

Tajudeen Ibrahim, a Lagos landlord told New Telegraph that it has not really been easy dealing with his tenants. He said that sometimes, the tenants are compliant, while some others prove to be stubborn. “I am an easy going person and I don’t like to quarrel but when one does not do what is right, that is when we will fight. I always inform my tenants whenever there is an increase in rent. Also I don’t go against agreement. The agreement I have with my tenants is that rent will be increased every three years. Even as they know this, some of them still owe me rent for one year, and when you give them quit notice, they will say that one is not being considerate. Sometimes, it is not the landlord that is giving problem, but the tenants,” he alleged.

Another Lagos landlord, Oluwatosin Ogunfowakan, said that he has no problems with his tenants because there are already laid down rules and regulations before moving in. “I give them written policy that clearly states the dos and don’ts.”

“I have two and three bedroom flats. The tenant that occupied the two bedroom flat paid me the sum of N200, 000, commission and agreement inclusive at the point of entry.”

He also said that he subsequently, increases the rent every two years, with N20,000 for two bedroom flat and N30,000 for three bedroom flat respectively. “The most common problems I have with my tenants are prompt checking on my property especially interior parts for proper maintenance raises eyebrow on the basis of invasiveness and delay in rent payment after annual expiration.” He added that the issue of utility bills such as PSP(wastes disposal), PHCN(power) etc. were usually bone of contention as his tenants don’t pay on time and it is highly disappointing.

jo Olarinde is an auto engineer who relishes his growing up years in Lagos with so much passion. He wishes the hand of the clock could be taken anticlockwise. Although not Olarinde born in Lagos, he had memories of his youthful days.

Been raised in Lagos, he recalls with nostalgia: “I make bold to say that Lagos today is far better today than how it was over three decades ago when I was growing up. There have been tremendous changes especially during the last eight years tenure of the past governor, Babatunde Raji Fashola who made giant strides in the development of infrastructures and the beautification of the landscape.

“During the period, Lagosians witnessed stable and peaceful atmosphere and enjoyed good roads, clean and healthy environment etc. The transformations that took place at several places in all the various parts of the state are breathtaking. Honestly, there is no place to compare to Lagos for as much as I know.

“In all of these, there are still grey areas that need to be worked on. There was a noticeable sanity in the state during Fashola’s era in the state. Nowadays, we are witnessing gradual return to some of the social recklessness that we found around in the time before Fashola’s coming. He’s one governor that stood out and a role model to his contemporaries. However, this present governor, Akinwunmi Ambode should work assiduously to sustain the lofty ideals of the state as the Centre of Excellence that we know Lagos to be.”

...mini Nigeria of sort

C

hinedu Udeoyibo, a businessman whose interest in stationery and printing materials has yielded a profitable leap, and having lived in Lagos for almost two decades, finds the city as a home for opportunities and Udeoyibo prosperity.

“I found many things fascinating about Lagos that I came almost twenty years ago. Many places like the Water Parks, Amusement Park, the Bar Beach and so many other places that I used to visit then motivated my spirit. As far as Nigeria is concerned, Lagos is a wonderful city with super infrastructures and buildings that make it stand amongst other states in the country.

“During the time, I saw people, irrespective of ethnic or tribal leaning, interacted very harmoniously and peacefully. As a former capital territory, Lagos comes across as a mini Nigeria because you’ll find people from every part of the country assembled here. It is even like Europe because people from different parts of the world are striving to come down to Lagos for business goals. They know that the prospect to make it in Lagos is high. The existence of the seaports and the Airport contribute the economic edge of the state. ”But making it in Lagos is not easy, one has got to be very hardworking. When you consider the cost of living generally, one has to be hardworking and believe in God to crown the effort.

“However, Governor Akin Ambode should live up to the daunting task ahead of him. He should continue to be a listening governor and run the state without discrimination and sentiments to govern us in the state. But importantly, the activities of the agberos (transportation miscreants) in the state should be regulated because of their excesses can have negative impacts on his administration.”

24

The Mega City

WEDNESDAY, AUGUST 19, 2015 NEW TELEGRAPH

MEGA CITY EVENTS Grand finale of the Coronation of Oba Shotobi and conferment of Chieftaincy titles, at his Palace in Ikorodu, Lagos State

L-R: Lagos State white cap chiefs; Oba Kabiru Adewale Shotobi (Ilufemiloba) Adegorushe V; Ayangburen of Ikorodu, his Olori, Kudirat and another Lagos State white cap chief …at the event

L-R: Lagos State Speaker, Mudashiru Obasa; his wife Mutiat and Senator Adeleke Olurunnimbe Mamora…at the weekend

THE ORDINATION OF PASTORS AT THE RCCG’s 63RD ANNUAL CONVENTION HELD ON AUGUST 9, REDEMPTION CAMP

L-R: Pastors (Mrs) Nike .E. Akanbi (Fountain of Life Parish, Ayobo, Lagos Province 12), Samuel Babalola (Lagos Province 38) and Edward Oriwoh (Oyo Province 3)

Pastor and Prof. (Mrs) Suleiman.A. Dauda

QUOTE

OF THE WEEK

With this development, it is expected that all parastatals, local governments and establishments will commence the operation of the Treasury Single Account,TSA, on September 1,2015,” Lagos State Governor Akinwunmi Ambode, while approving the single account the state’s transaction.

IN NUMBERS

73

STUDENTS EXPELLED OVER FORGERY BY YABATECH

360

STUDENTS GET AGRIC TRAINING BY LAGOS STATE GOVERNMENT

NEW TELEGRAPH WEDNESDAY, AUGUST 19, 2015

Money

Investor

FCT

25

Maritime

Between stronger naira and listening to foreigners’ voice

Financial disclosures: Need to enforce firms’ compliance

Tackling revenue leakages through TSA

Panic as NPA MD returns to office

28-29

30

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Business What's news N300m new capital: Operators seek extension As the September 30 deadline for the new capital requirements for market operators approaches, some operators have renewed calls for an extension.

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Customs seize N95.7m bulletproof car

The Nigeria Customs Service (NCS), Zone C, Owerri, has intercepted a 2015 model bullet proof Toyota Camry without the end user certificate. The vehicle is valued at N95.7 million.

L-R: Fidson Healthcare Plc’s Regional Sales Manager, Lagos, Mr. Taofeek Ajisebutu; Marketing Manager, Mr. Friday Enaholo; Managing Director, Zest Pharmacy Limited, Mrs Joy Ibezim; General Manager, Sales, Fidson Healthcare Plc, Mr Abayomi Alli-Balogun and Corporate Services Manager, Mr. Oladimeji Oduyebo, during Fidson Healthcare retail reward programme in Lagos.

Looted Funds: Expert seeks probe of states’ finances former President of the Association of National Accountants of Nigeria (ANAN), Dr. Samuel Nzekwe, has called on state governors across the country to beam the searchlight on the finances of their states in the last four years in the manner that President Muhammadu Buhari is currently doing to former President Goodluck Jonathan’s administration.

In a chat with the New Tele-

graph, he commended President Buhari for taking steps to recover the country’s looted funds and plug revenue leakages, pointing out that the move is critical to reviving the nation’s economy.

He, however, argued that in order for the probe at the federal level to have the desired impact on the country, it should also be carried out in states.

Nzekwe said: “I believe it’s a good decision to probe the past government so that anyone found to have taken what does not belong to him should be made to return it. This is what the country needs at this time.

But I would also suggest that governors should also probe the finances of their states in the last few years. A lot of dam-

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

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

RESUSCITATION

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Probe is critical to reviving nation’s economy

The Business Desk Ayodele Aminu

Tony Chukwunyem

Bayo Akomolafe

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Deputy Editor (Business) Asst. Editor (Maritime)

Sunday Ojeme

Asst. Editor (Insurance)

Tony Chukwunyem

Asst. Editor (Money Market)

Dayo Ayeyemi Property Editor

Adeola Yusuf Energy Editor

Wole Shadare Aviation Editor

Chris Ugwu

Capital Market Editor

Abdulwahab Isa Finance Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

age was really done at that level and this should not be ignored.”

He also contended that with similar probes taking place at the state level, the perception in some quarters that the probe of the Goodluck Jonathan administration was a witch-hunt would be significantly reduced.

On the decision of the National Economic Council’s ad-

N11.09trn

Money alleged by the All Progressives Congress (APC) to have either been stolen or could not be accounted for under former President Jonathan

hoc committee on the management of the Excess Crude Account (ECA) proceeds and accruals into the Federation account to hire KPMG and the Price WaterHouse Coopers (PwC) to audit the accounts of all Federal Government’s revenue-earning agencies, Nzekwe said he fully supported it.

He explained that although the agencies might have undergone a statutory audit, there was nothing unusual if they were audited twice in a year.

Nzekwe said: “The statutory audit is in line with the law, but the forensic audit is an investigation. The forensic audit probes much deeper than the statutory audit. It will dig CONTINUED ON PAGE 26

Rates Dashboard EXCHANGE RATE (BDC as at Aug 14)

USD . . . . . . . . . . . . . . . . . . . . . . N224 Pounds . . . . . . . . . . . . . . . . . . . N345 Euro . . . . . . . . . . . . . . . . . . . . . . N245

l Foreign Reserves – $31.619bn as at 13/08/2015

Source: CBN

EXCHANGE RATE (Interbank as at Aug 14)

USD . . . . . . . . . . . . . . . . . . N199.00 Pounds . . . . . . . . . . . . . . . . N312.70 Euro . . . . . . . . . . . . . . . . . . N222.70

26

Business | News

CRISIS Enforcing the deadline would throw the market into further crisis Chris Ugwu

A

s the September 30 deadline for the new capital requirement for market operators approaches, some operators have renewed calls for an extension.

Speaking with New Telegraph the operators noted that insisting on the deadline and withdrawing the licences of those who could not meet the deadline would throw the market into further crisis.

The reasons cited for the demand included lack of investors’ confidence, the dwindling prices of crude oil and the impact on the economy, especially the devaluation of the naira and the hike in interest rates.

Director-General of Securities and Exchange Commission (SEC), Mr. Mounir Gwarzo, had recently said that the commission had no plans to extend the deadline, stressing that it has come to stay.

He said that the capital requirement would be implemented vigorously.

“The deadline is still September and progress is being made; the level of compliance has gone up, but we are determined to keep to that September 30, no shaking, no going back. There is no going back and we are happy the

N300m new capital: Operators seek extension way we are receiving responses from all the capital market operators,’’ he said.

But the Managing Director of Perfecta Securities Limited, Mr. Emma Eze, told New Telegraph that SEC should put aside the recapitalisation of stockbroking firms currently being pursued and first restore investors’ confidence.

“SEC should put aside

into purchases, examine receipts and invoices to ascertain whether items were bought at what the prices ought to be and issues like that.”

Last week, Governor Adams Oshiomhole of Edo State announced that the National Economic Council’s ad-hoc committee on the management of the Excess Crude Account proceeds and accruals into the federation account had hired leading auditing firms, the KPMG and PwC, to audit the accounts of all Federal Government’s revenueearning agencies.

He named the agencies whose accounts would be audited as the Nigerian National Petroleum Corporation (NNPC), the Central Bank of Nigeria (CBN), Securities Exchange Commission (SEC), Nigerian Maritime Administration and Safety Agency (NIMASA), Department of Petroleum

the recapitalisation process for now. The issue of new capital requirement will not reactivate the market, what will reactivate the market is restoration of investors’ confidence. Local investors’ confidence is number one, because foreign investors are not helping the market. What concerns foreign investors is profit. Recapitalisation would be easier to

embark upon if there is positive sentiment in the market,” he said.

A senior operator, on the condition of anonymity, also pointed out that since equities had depreciated significantly in value, there is need for the apex market regulator to soft-pedal on the N300 million capital requirement.

He noted that people were not ready to invest

in the market, adding that even foreign portfolio investors, who dominate the market, were pulling out their investment.

The operator noted that similar directive started the first major capital market crash, even before the spill-over effect that we had from Europe and America in 2008, as operators tried hard through different

means to meet the capital requirement.

The fall-out was a run on various account of shareholders in different stockbroking firms, because they did not know the company that would survive the recapitalisation policy. Consequently, shareholders gave orders to their stockbrokers to sell at any price so as to recoup their investment before the dateline.

L -R: Retail Business Manager, Lagos West, Airtel Nigeria, Adebisi Femi-Oderinde; Special Adviser to Yaba Local Government Chairman, Akinolu Ayodeji; Regional Operations Director, Lagos, Airtel Nigeria, Oladokun Oye and Retail Business Manager, Ekpa Dapo-Olowu, at the Airtel mini shop opening at Tejuosho, Lagos.

Expert seeks probe of states’ finances CONTINUED FROM PAGE 25

WEDNESDAY, AUGUST 19, 2015 NEW TELEGRAPH

Resources (DPR), Federal Inland Revenue Service (FIRS), Nigeria Customs Service (NCS), the Nigerian Petroleum Development Company (NPDC), Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Nigeria Extractive Industry Transparency Initiative (NEITI), Federal Ministry of Finance and Office of the Accountant-General of the Federation, among others.

He said, “We have decided to hire two audit firms, KPMG and PwC, to carry out the audit of all the agencies and government will decide what to do. We are doing this because we are sitting governors. The interaction has been quite interesting. We have heard from the agencies and they understand what the issues are. Many of them are new by virtue of the recent changes. We are convinced that the audit firms will do a professional job and help the government.

Customs seize N95.7m bulletproof car DETAINED Eight suspects had been held for the smuggled vehicles Bayo Akomolafe

T

he Nigeria Customs Service (NCS), Zone C, Owerri, has intercepted a 2015 model bullet proof Toyota Camry without the end user certificate.

The vehicle is valued at N95.7 million.

Also, a total of 100 vehicles and other contrabands valued at N346, 347,568, with fake documents were impounded along Benin express-way, Agbor-Asaba axis and Aba/Owerri highway in the last four days.

The anti-smuggling’s Public Relations Officer, Ifeoma Onuigbo, told New Telegraph that the impounded vehicles were 2014 and 2015 models.

She said that 15 of the vehicles were the latest models of Toyota and Mercedes Benz.

The spokesperson said that eight suspects had been held over the

Impound vehicles, poultry foods worth N346m smuggled vehicles, which included six Land Cruiser Prado, Land Cruiser VXR, Toyota Fortuner, Lexus LX 570 and M/Benz CLS 350.

Also confiscated by the Customs officers, Onuigbo said, are 5,364 cartons of smuggled chicken, turkey and gizzard concealed in Mercedes Benz trucks, with used Jacuzzi bathing tubes, rolls of black polythene nylon bags and crates of woods lining the walls of the truck.

Also, she said that poultry products with duty paid value of N89,338,400, were impounded along the Benin, Agbor and Bayelsa/Port-Harcourt axis between August 13 and 14, 2015, respectively.

Already, she said that four smugglers had been arrested in connection with the poultry products.

Onuigbo said: “A total of 14 suspects are now in Customs net in connection with the N441,685,968 contraband seized with a total DPV of N441,685,968.”

Also, the Customs Area Controller in charge of the unit, Comptroller Victor David Dim-

ka, said that the unit had carried out the destruction of the imported frozen poultry products in the presence of some officials of National Environmental Standards and Regulations Enforcement Agency (NESREA), National Agency for Food and Drug Administration and Control (NAFDAC) and Department of State Security Services (DSS).

He said that a total of 300 bags of 50-kilogramme rice with DPV of N6,000,000 were seized at Ikom boarder in Cross River State, adding that two suspects involved in the shady deal were arrested.

Dimka stressed that the suspects were helping the Customs in their investigations into the illegal importations of the seized items.

He lamented the rising tide of smuggling activities in the country despite the obvious consequences of the unpatriotic business.

Dimka said: “Smuggling of contraband goods has continued to damage the nation’s economy and many families have been ruined as a result of the indulgence of some of their beloved ones in this obnoxious act.”

NEW TELEGRAPH WEDNESDAY, AUGUST 19, 2015

27

FCT Business Watch

Tackling revenue leakages through TSA

Former Governor of the Central Bank of Nigeria (CBN) and Emir of Kano, Mallam Muhammad Sanusi, aligned himself in this direction last week.

Sanusi spoke in Lagos at the Federal Government budget symposium organised by the Institute of Chartered Accountants of Nigeria (ICAN).

At the conference entitled “Come Nigeria – The nation’s fiscal challenges and way forward for the new administration”, the Emir urged President Buhari to plug revenue leakages in the country if he must make headway in its anti-corruption crusade.

The former CBN boss maintained that the NNPC had been a drainpipe to the Nigerian economy for along time.

“Before the government goes borrowing, they need to find out why revenue is so low, given that our Gross Domestic Product (GDP) is supposed to be high.” he said.

Sanusi faulted the NNPC’s swap of crude oil, saying that the country had always been on the losing side in the deal.

“Nobody does swaps unless country like Iran when it is under economic sanctions and can’t sell its oil at the international market, or may be your crude is of very low quality,” he said.

that the universities by means of their operations and services should be regarded as peculiar establishments, which should not be treated as purely public service in function or categorised as revenue generating agencies.

Consequently, they called for a review of the inclusion of the universities in the TSA circular.

Faborode, who spoke on behalf of his colleagues during the visit, noted that the implementation of the TSA in the university system might distort the effective functioning of the institutions since government allocations are hardly enough to carter for the needs of the institutions.

He also told the AGF that universities collect third party funds for provision of services, praying that this function should not be disrupted on account of the TSA implementation.

But the AGF, in his response allayed the fears being expressed by the universities and some agencies of government that the directive of the President on the establishment and operation of TSA for the e-collection of government receipts for all the MDAs, would negatively affect the operations of some of the specialised agencies. He explained that the reform would rather improve their efficiency and increase the rating of the nation’s economy.

However, members of the House of Representatives last week described Buhari’s directive to MDAs to lodge all monies into a TSA as a step in the right direction to check financial leakages.

The lawmakers were unanimous in their reactions, saying that the president’s directive to all MDAs of government to lodge all incomes into one account would go a long way in checkmating corruption.

Hon. Philip Shuaibu, representing Edo State, said, “It is a welcome development and a step in the right direction to plug all financial leakages.”

He explained, “multiple accounts made it possible for the MDAs to conceal some accounts they have ulterior interests and only show Nigerians the ones they want to show.”

Financial analysts are of the view that the policy may also constrain banks’ full year results for 2015, as the MDAs withdrawal of their accounts from the banks would lead to more than N60billion leaving their vaults at a go.

Reactions to TSA implementation As expected, the implementation of TSA has elicited divergent responses. Last week, the Committee of Vice Chancellors of Federal Universities urged the government to exclude universities from TSA policy.

A delegation of the Committee led by Professor Michael Faborode, during a courtesy visit to the Accountant General of the Federation, Alhaji Idris Ahmed, said

Conclusion For an administration that has unwritten social contract signed with Nigerians in terms of service delivery, it has the obligation to aggregating states’ resources to provide services and amenities promised to the people. Any step taking in the direction aimed at plugging leakages in revenue generating agencies should be seen as a step in the right direction.

Abdulwahab Isa Abuja

T

hrough his recent action and pronouncements, President Muhammadu Buhari has indicated his administration’s keen interest in the financiala ffairs of state owned oil company - the Nigerian National Corporation (NNPC).

This is understandable because the President as a former petroleum minister, had been particularly miffed that unlike what was a functional, efficient corporation he presided over several years ago with accounts in one or two banks, the NNPC of today operates too many bank accounts, thereby complicating financial reconciliation.

Sadly, NNPC is not the only agency of government that runs such loose accounts. Several Ministries, Department and Agencies (MDAs) of government are also guilty, a development that has not only made it difficult for government to track its revenue, but also hampering government’s effort in aggregating revenue for project execution.

Single Treasury Account (TSA) The TSA, a single pool for harvesting revenue inflows of MDAs was not Buhari’s idea. It was conceived by the immediate administration of President Goodluck Jonathan, but it remained a mere policy on paper due to lack of political will on the part of past administration to enforce it.

But with Buhari on board as President, the enforcement has become a compulsory policy that all the revenue generating MDAs must comply with. They have been mandated to channel their earnings into a single account to be domiciled with the Central Bank of Nigeria (CBN).

Federal Government’s seriousness about enforcing TSA was conveyed in a circular entitled, “Re: Introduction of Treasury Single Account (TSA) (e-Collection of Government Receipts)” by the Head of the Civil Service of the Federation, Danladi I. Kifasi.

The circular dated August 7, 2015 made it known that President Buhari: “Has approved the establishment and operation of Treasury Single Account for e-Collection of Government Receipts for all Federal MDAs with effect from the date of this circular.”

Specifically, he said the circular was to aid transparency and facilitate compliance with sections 80 and162 of the Constitution of the Federal Republic of Nigeria 1999 (as amended).

Consequently, he said all receipts due to the Federal Government or any of her agencies shall be “paid into the TSA as follows: Account Name: Accountant General (Federal Sub-Treasury), Account No. 3000002095 maintained

Buhari

in the Central Bank of Nigeria (CBN), except otherwise expressly approved.”

Kifasi said that the government had put in place effective monitoring mechanisms to ensure strict compliance. “All Accounting Officers, Directors of Finance and Accounts, Directors of Internal Audit, Heads of Accounts and Heads of Internal Audit Units of MDAs and other arms of government are enjoined to give this circular the widest circulation and ensure strict compliance to avoid sanctions.”

He said that further enquiries on the issue should be directed to the Accountant-General of the Federation.

Unarguably, apart from the NNPC, which handles the sale of crude oil on behalf of government, there are other MDAs equally on the A list of heavy revenue generating agencies. In the category of heavy revenue generating MDAs are the Nigeria Ports Authority, Nigerian Maritime Administration and Safety Agency (NIMASA), Federal Inland Revenue Service (FIRS), the Nigeria Customs Service (NCS), National Communications Commission (NCC) and numerous others.

Blocking financial leakages Many Nigerians have argued that given the level of abundant resources and the wealth deposit in the country, the prevailing poverty is more of self-inflicted from mismanagement of resources aided by abundant leaks in finances.

With the determination of President Buhari administration to give preference to execution of capital budget in 2016 as against recurrent, there is compelling need to block all identifiable sources of revenue leakages.

Sanusi

The TSA, a single pool for harvesting revenue inflows of MDAs was not Buhari’s idea

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WEDNESDAY, AUGUST 19, 2015 NEW TELEGRAPH

Between stronger naira and In a bid to protect the naira, the Central Bank of Nigeria (CBN) has since late last year introduced a plethora of unorthodox and orthodox measures.

Tony Chukwunyem examines these policies, which are being criticised

A

t the interactive forum on the Central Bank of Nigeria (CBN)’s foreign exchange policy organised by the Lagos Chamber of Commerce and Industry (LCCI), early last month, the Director, Monetary Policy, CBN, Mr. Moses Tule, dismissed concerns that the apex bank was rolling out too many measures in its efforts to stabilise the exchange rate.

He explained that the CBN’s actions were aimed at checking currency speculators who always try to look for ways of circumventing regulations. Quoting the African proverb: “Since hunters have learnt to shoot without missing, birds have learnt to fly without perching,” Tule stressed that the regulator was determined to win the naira stability battle.

In fact, since June last year when the sharp drop in oil prices led to the CBN intensifying strategies to protect the naira and preserve the external reserves, the apex bank has issued over 40 forex circulars addressed to authorised foreign exchange dealers. Perhaps, expectedly, Deposit Money Banks (DMBs) have been most affected by the CBN’s forex measures.

Devaluation risks For instance, following the apex bank’s devaluation of the naira in November last year, global rating agency, Fitch Ratings, predicted that the move had exposed Nigerian banks to high foreign exchange risks.

It said: “The recent surge in banks’ dollar debt funding and lending leaves banks more vulnerable to foreign exchange risks, especially if there is further devaluation.” It noted that Nigerian banks had sourced funding internationally between 2013 and 2014 owing to stronger investor appetite for Nigerian debt.

The agency, however, noted: “Around 40 per cent of Nigerian banks’ lending is in foreign currency, but they have small net long balance sheet positions to foreign exchange, so the impact of the weaker naira on banks’ credit risks, liquidity and solvency is likely to be manageable.”

Similarly, analysts at Afrinvest pointed out that the naira’s devaluation might result in banks that had obtained Eurobonds and other dollar-denominated loans that were not hedged recording foreign exchange losses in their income statements and hurting their profitability.

Emefiele

What we clearly see is a very tough half year.

It is important that we restore liquidity in the foreign exchange market as quickly as possible

The analysts even stated that the CBN needed to carry out a stress test to ascertain banks’ exposure to dollar-denominated loans.

As they put it, “we do not have access to the banks’ books to determine those foreign loans in dollars that were hedged and those that were not hedged. The CBN may need to carry out a stress test to determine this in the light of the currency devaluation.”

They further predicted: “In terms of the devaluation of the naira, in the short term, we expect the spread between the interbank rate and the official rates to widen, while in the medium term, Foreign Portfolio Investors (FPI) will be faced with dilemma of selling off positions and taking losses in anticipation of further depreciation or patiently riding the curve back up.”

Forex restrictions Thus, although devaluation poses some risks to banks, they appeared to welcome it last February when the CBN scrapped the Retail Dutch Auction System (RDAS) window and moved all transactions to the Interbank Foreign Exchange Market (IFEM). Instead, what the banks complained about were restrictions on foreign currency trading imposed by the regulator.

The lenders were especially critical of the order-based trading system introduced by the CBN in which banks could only buy foreign currency when they had matching orders from clients that need to import goods.

According to them, the restrictions impacted liquidity in the

Onasanya

forex market as it stopped many foreign investors, including Morgan Stanley and Aberdeen Asset Management Plc, from buying local-currency bonds.

Interestingly, aside from asking that the forex curbs be removed, they called for further devaluation of the naira.

The naira was in a “crisis situation” partly because of high demand for dollars, said Kunle Ezun, treasury researcher for Ecobank in Lagos. “In trying to control the FX market, the central bank is starving the money market of liquidity.”

CBN Governor, Godwin Emefiele, has defended his policies, arguing that the measures are intended to stop speculation, decrease illicit financial flows and defend the naira. Emefiele told the Financial Times this month that he thought the naira was still appropriately priced, despite the spread between official and black market rates, and said that his policies would help prepare Nigeria for a possible interest rate rise by the US Federal Reserve later this year.

Still, many economists disagree. Given that oil prices will remain low, the CBN’s naira policy raises the risk of more controls and even import bans, all of which could undermine growth, said Yvonne Mhango, Africa economist at Renaissance Capital.

Bank CEOs kick For instance, at a conference in Lagos last June, the Group Managing Director/CEO, First Bank of Nigeria Limited, Mr. Bisi Onasanya, argued that the interbank market value of N200

to the dollar was unrealistic and called for another devaluation of the local currency.

He said: “It is not sustainable, and the longer we continue to hold unto this, the more we send signals to the international market that we are not serious as a country. There has to be some adjustments in the present level of the naira. There has to be a re-opening of the market for activities to continue in the market otherwise, the economy will be at a standstill.”

He pointed out that oil accounts for over 75 per cent of government revenue and with the price of the commodity not showing strong signs of a recovery, Gross Domestic Product (GDP) would decline with the attendant impact on the financial system.

Onasanya said: “Savings rate will slow down. Funds that come into the purses of various states today are barely enough to meet their overheads. So, what does that tell you? The flow of funds into the banking sector that used to help in accretion of deposits to fund the real sector of the economy has slowed down, if not disappeared. So, you can’t take the banking sector out of that equation. I believe very strongly that this will impact deposits in the market, the volume of deposits in the market and the rate at which funds can come into the system.”

Also, Chief Executive Officer of First City Monument Bank (FCMB), Ladi Balogun, described the forex restrictions as the biggest risks to the country’s lenders.

Bloomberg quoted him as saying that, “what we clearly see is a very tough half year. It is im-

Business | Money

NEW TELEGRAPH WEDNESDAY, AUGUST 19, 2015

29

listening to foreigners’ voice

Balogun

portant that we restore liquidity in the foreign exchange market as quickly as possible. Our hope is that as we get better on our balance of payments generally, some of these restrictions will be relaxed. When there is pressure on the currency, we all have to pay the price. The banks are paying the price of reducing the level of foreign exchange trading that they are doing.”

Impact on banks’ half-year results Indeed, although half year results so far released showed a mixed performance by lenders, those that reported a decline in profit blamed CBN’s policies, among other factors. For example, Stanbic IBTC Holdings Plc posted a profit before tax of N9.537 billion in the first half of 2015, down by 52 per cent from the N19.946 billion it declared for the same period in 2014. The company’s profit after tax was put at N9.695 billion, which is 40 per cent lower than the N16.184 billion recorded in the corresponding period of 2014.

Commenting on the result, Stanbic IBTC’s Chief Financial Officer, Arthur Oginga, said that the CBN’s moves to tighten monetary policy had placed pressure on market liquidity and raised the cost of holding funds.

He also cited the impact of the oil slump on Nigeria’s economy, a development, he said, hit fee and commission income.

Idle domiciliary deposits According to financial analysts, the performance of banks in the second half of the year would also be impacted by CBN‘s forex policies introduced

MD, Financial Derivatives Limited, Bismarck Rewane

last month. They point out that banks’ decision to stop accepting dollar cash deposits would hurt the industry, as such deposits account for about 26 per cent of total deposits in the banking system, a situation that exposes lenders to forex risks.

In a chat with New Telegraph, Senior Financial Analyst at Berta Associates, Charles Ikeobi, said: “Banks that have a lot of dollars are really in a dilemma; they cannot trade the currency and they cannot transfer it, so, they are stuck with the dollars.

The risk for them is the weakening naira.”

Significantly, in a note made available to New Telegraph, Standard Chartered Bank’s top analyst, Razia Khan, noted that unless the CBN reviews its forex policy, liquidity would continue to be tight in the banking system thus hindering efforts of the new government to reform the economy.

She said: “The authorities’ policy options are likely to be constrained unless there is a change in Nigeria’s FX regime, which would likely relieve pressure on the FX reserves and attract new inflows, while reducing – over time – the need for very tight monetary conditions.

“To date, FX reserves and the real economy, rather than the currency, have borne much of the adjustment to lower oil prices. This has been costly. In the absence of policy change, little can be done to boost banking-system liquidity. Fiscal policy has little scope to boost growth amid reports of substantial government arrears. Monetary policy cannot do much either. The worry is that

recent FX restrictions, which appear to have exacerbated existing price pressures, further restrict the policy choices available.”

Foreign investors’ view of Emefiele’s policies Just last Friday, Reuters News reported that the CBN Governor, Godwin Emefiele, claimed that he’s on a mission to transform the economy, but that is not what investors are seeking.

Noting that Emefiele has resisted pressure to further devalue the naira despite the oil rout, the agency said that the governor has imposed foreign exchange restrictions on imports, risking growth in the continent’s largest economy as retailers and manufacturers struggle to source the funds needed to run their businesses.

Emefiele, they said, has deflected criticism of his performance 14 months into the job by highlighting the CBN’s need for an expanded mandate on monetary policy. He wants the apex bank to play a more developmental role, including creating jobs and facilitating loans to “productive” industries. But Investors say he’s neglecting his main job.

“The tragedy is that over the past few years, the Central Bank of Nigeria built up credibility for reforming, for inflation targeting, establishing itself as one of the more orthodox central banks in Africa,” Holger Siebrecht, an associate portfolio manager at Acadian Asset Management LLC, said by phone from Boston.

“Now it is at risk of gambling this reputation away.”

In a Bloomberg’s, survey of nine economists carried out between July 30 and August 4, two-

Emefiele’s development goals mean very little if they distract from more pressing economic issues

thirds rated Emefiele’s record on managing the naira as either “very poor” or “poor,” and only one respondent judged his overall performance as better than “fair.”

Reuters noted that while the apex bank is happy with the naira trading at about N199 to the dollar on the interbank market, black market dealers are selling the US currency at close to N225.

“Governor Emefiele continuously denies that the currency is overvalued, and pushes back from devaluation, when market forces are quite clearly saying something completely different,” said Siebrecht.

The news agency, however, noted that Emefiele’s predecessor, Lamido Sanusi, had won acclaim from investors for cleaning up a banking industry near collapse in 2009, bringing inflation below 10 per cent and keeping the currency stable.

Ibrahim Mu’azu, a spokesman for the CBN, according to Reuters, denied that the currency policy is muddled, saying by phone that the regulator has been consistent in its “demand management” approach.

“Emefiele seems unable or unwilling to sell the economic case for devaluation to the country’s political leaders,” Alan Cameron, an economist at Exotix Partners LLP, said by phone from London.

“He wants to portray the CBN as a source of economic stability in a time of political change, even though in reality he might be doing quite the opposite,” he said.

Recent comments, according to Reuters, suggest that Emefiele sees his job as unconfined to the narrow disciplines of traditional central banking.

“Central banks in developing countries like ours cannot sit idly by and concentrate only on price and monetary stability,” he said in a June 24 speech in Abuja.

The naira has weakened 7.8 per cent against the dollar on the interbank market this year, pushing inflation outside the central bank’s six per cent to nine per cent target band for a second month in July. The currency was trading at N198.88 per dollar as at last Monday in Lagos.

Emefiele’s development goals mean very little if they distract from more pressing economic issues, said John Ashbourne, an economist at Capital Economics in London.

“If, as looks likely, inflation continues to rise, it will not be very comforting to hear about his vision of a new Nigeria,” he said in an e-mailed response to questions.

“Investors are going to judge him by the here and now, which isn’t particularly impressive.

Conclusion The CBN’s forex restrictions were unsustainable and that the apex bank would sooner or later have to remove them when the costs to the economy become unbearable. The CBN can still claim that it would not devalue the naira because the price of oil is still above $40. But if the price drops to below $30 per barrel like it did in 2008, the only solution is devaluation.

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lobally, before a company is listed on the Stock Exchange, there are certain requirements they must meet. Thereafter, there are also standard requirements they must meet. These include regular dissemination of information about the financial performances and any changes that can affect their operations.

However, over the years, many quoted companies on the Nigerian Stock Exchange (NSE) have been violating this important obligation, thereby keeping investors in the dark about their financial health.

This had made many shareholders of quoted companies lose a large chunk of their investments mainly due to unreasonable manipulation of share prices, which firms, in collaboration with other financial institutions, indulge in.

It is worthy to note that the issue of how corporate governance impacts Nigeria’s capital market development is a two-way traffic. As much as good governance practices would promote the development of the capital market, weak corporate governance practices would also inhibit its development, as it would erode confidence in the capital market with potential wider implications for the Nigerian financial markets and the economy at large. This was the scenario that played out in 2008.

The Securities and Exchange Commission (SEC) and the NSE have made a lot of efforts to promote good corporate governance practices and reposition the Nigerian capital market. One of the measures was the introduction of X-Compliance designed for quoted companies to provide timely disclosures to regulators, investors and other operators in the market.

X-compliance X-Compliance Report is a transparency initiative of the Exchange, which is designed to maintain market integrity and protect the investors by providing compliance-related information on all listed companies. Companies listed on the Exchange are required to adhere to high disclosure standards, which are prescribed in Appendix 111 of the Listing Rules. Financial information, which is a periodic disclosure and on-going material events disclosure should be released to the Exchange in a timely manner to enable it efficiently perform its function of maintaining an orderly market.

To this end, companies’ unaudited interim financial accounts are to be filed 30 days after the relevant quarter and sent to all shareholders or published in at least two national daily newspapers, with evidence of publication submitted to The Exchange, while audited interim accounts has 60 days after relevant quarters to do the same.?

However, audited financial results must be filed not later than 90 days after financial year end with necessary publications and filings done.

In a situation where a company is unable to file its audited or interim accounts before the due date they can apply for an extension at least two weeks before the deadline, with reasons, while failure to comply within the extended

NSE building

Financial disclosures: Need to enforce firms’ compliance Financial disclosure is one of the key post-listing requirements, which quoted firms are expected to adhere to. Chris Ugwu examines the implications of violating these obligations due date will amount to a breach of the post-listing requirements and applicable enforcement action will be taken with the issuer’s name published in the XCompliance report as performing “Below Listing Standard.”

Defaulters According to reports, a review of Q1’15 financial filing defaulters’ list published in the NSE XCompliance Report as at August 7, 2015, showed that 30 firms currently made the list.

Companies from the financial services sector dominated the list with 11 firms, as firms from the insurance sub-sector constituted the larger percentage of the number. Oil and gas and services sectors followed closely with four each, construction/ real estate have three, consumer and industrial goods had two each while agriculture, natural resources, healthcare and ICT have one each.

“With this set of firms classified as performing ‘Below Listing Standard’, it is expected that appropriate sanction will be taken against them by the regulators for late filing to serve as a deterrent to them and other firms listed on the bourse,” the report noted.

The NSE had also last week confirmed that as at August 3, 2015, 89 per cent of the active listed companies had filed their audited accounts for the year ended December 31, 2014.

Warnings The Exchange, in a statement made available to newsmen, warned the affected companies of their obligations under the Listings Rules (Section 19.5 of the Amendments to the Listing Rules).

The local bourse said: “During the last two years, NSE has grant-

The Exchange should go ahead without delay to sanction defaulters

ed all listed companies a month’s grace after their respective regulatory filing dates, noting the regulatory challenges of adopting the International Financial Reporting Standards by the listed companies and socio-political uncertainties that prevailed in the country in recent times.

“The Exchange believes that the extended filing period was therefore adequate and issuers should have no reason for failing to file their audited financials as at when due,” the bourse noted.

Head of Legal and Regulation Division of the Exchange, Tinuade Awe, stated: “Late filing has the potential to adversely affect the market and their shareholders. It creates grounds for avoidable doubts regarding companies’ performances. The Exchange is monitoring the compliance status of these companies very closely and is engaging the affected companies accordingly. “We encourage investors to always check the X-Compliance Report and Released Financials on our website for full details of the compliance status of listed companies before making investment decisions.

“For failure to file audited reports timely, the NSE sanctions range from penalties to regulatory delisting of the securities from the Daily Official List of the Exchange. These penalties accrue on a weekly basis and further deplete the bottom-line of the companies’ earnings. These penalties are also expected to be disclosed in the annual reports of the companies,” she further noted.

Shareholders’ view President, Progressive Shareholders Association, Mr. Boniface Okezie, reacting to the development, said that the Exchange should go ahead without delay to sanction defaulters. He added that it was better for Nigerians

to have a few companies who are ready to play by the rules than to have all the companies in the world who are not ready to satisfy post-listing requirements.

Okezie said that immediate sanction for non-compliance with the rules of listing on the NSE would be a welcome development, as it would lead to more appropriate pricing of securities.

He said that more quoted entities would be compelled to give information to the market on a timely basis, adding that investors’ confidence in the regulatory capacity of the NSE and, therefore, in the market, would be enhanced.

Founding member, Nigeria Shareholders Solidarity Association, Alhaji Gbadebo Olatokunbo, warned erring companies that it is a signal that it is no longer business as usual.

“The action is great and it shows that the NSE management is alive to its responsibilities. Besides, it is a signal to the companies in particular and the capital market in general, that it is no longer business as usual. We must always abide by the rules,” he said.

He noted that the warning would make the companies sit up and post their results, as at when due, thereby providing investors, analyst and stockbrokers the platform to predict the real value of the companies.

Conclusion A developed capital market is a world class capital market and such market is one that engenders investor confidence, has breadth and depth in terms of product offerings and characterised by market integrity.

Besides, it has to have a sound regulatory framework, a strong and transparent disclosure and accountability regime, fosters good corporate governance and is fair robust and efficient market place. Hence, there is the need for regulators to tighten the noose on market infractions and other miscellaneous capital market crimes.

NEW TELEGRAPH WEDNESDAY, AUGUST 19, 2015

31

Maritime

IFC, five firms to finance N300bn Badagry dockyard p.32

Shipping line upgrades service in Apapa, others p.33

Panic as NPA MD returns to office The Managing Director of the Nigerian Ports Authority (NPA), Mallam Habibu Abdullahi, made an historic comeback last week, months after he was sacked by the former President, Dr. Goodluck Jonathan. But some senior managers in the authority are not comfortable with his second coming, BAYO AKOMOLAFE reports

T

he re-appointment of Mallam Habib Abdullahi and termination of Alhaji Sanusi Bayero’s appointment last week, by President Muhammadu Buhari, marked another watershed in the history of the Nigerian Ports Authority (NPA). Bayero was in Abuja, when the Presidency announced his sack. The duo hail from Kano, the capital of Kano State.

The genesis It was learnt that Abdullahi fell out of reckoning and was subsequently removed by Jonathan’s government for allegedly refusing to effect certain payments.

One of such, it was alleged, had to do with a platform rent at the cost of $5 million for a boat, which the authority never needed to discharge its responsibilities in the port channel.

Also, a source in the authority, who does not want his name in print, revealed that Prince Sanusi Ado Bayero was brought to the authority to obey the directive, his predecessor refused to do.

One of the controversial directives he complied with the week he resumed office, was Jonathan’s order to relocate LADOL’s Egina Floating Production Storage and Offloading (FPSO) to

Buhari

Bayero

Bayels State.

The project, according to Dr. Amy Jadesimi, Managing Director of LADOL, had already gulped $300 million.

The instruction was conveyed in two letters dated April 27, 2015 and was signed by Mr. AB Mohammed, a general manager at NPA. The directive The letters, signed on behalf of Bayero, reads: “Please be informed that Mr. President has vide PRES/99/MT/2/22 of April 20th, 2015 approved the FPSO project to be relocated to Agga in Bayelsa State when the facilities to handle such operations are developed.

“In additional, the project can be conveniently located at any designated oil and gas terminal. Please be informed that Mr. President has approved that henceforth, all oil and gas related cargoes must be handled only in the designated terminals in Onne, Warri and Calabar ports.

“In view of this, vessels coming to Nigeria with oil and gas related cargoes excluding pe-

Abdullahi

troleum products are advised to first go to the appropriate concessioned terminals to be cleared by the Customs and other relevant authorities, terminal operators and shipping firms.”

Others took advantage of the inexperience of the former managing director, Ado Bayero to commit all sorts of atrocities in the authority

The Calabar dredging Another controversial issue that led to the removal of Abdullahi was his refusal to sign $35 million for the dredging of Calabar Channel dredging.

A source at the authority said that the bills had remained unpaid since August, 2014, when the contract was awarded. It was revealed that Abdullahi had sighted the irregularities in the contract.

The source said: “Abdullahi refused to succumb to pressure to make these payments or represent NPA on the Board of Calabar Channel Management (CCM) and that cost him his job.

“Abdullahi also was wary of falling foul of the law given that there is a pending suit challenging the Calabar Channel dredging contract. NPA is the fourth defendant in the suit and is being

MAN, chamber give condition to support CTN

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he Manufacturers Association of Nigeria (MAN) and the Nigerian Association of Chambers of Commerce, Industries, Mines and Agriculture (NACCIMA), have promised to support the re-introduction of Cargo Tracking Note (CTN) in the port by the Nigerian Shipper’s Council (NSC) on the condition that it will not attract charges to importers.

The associations made the pledge during a visit

by the NSC team led by its Executive Secretary, Barrister Hassan Bello to MAN and NACCIMA in Ikeja, the capital of Lagos State.

The President of MAN, Mr. Frank Njemba Jacobs assured that his association would support the advance cargo information system if it would not add to the cost of doing business at the port.

He said: “We are satisfied with all the explanations that the council has

given us, but we think the technical members of all the stakeholders should get together and further discuss it.

“But I think it is something that will help us at the end. So, we are going to support it. We are hoping that it will not attract any cost to the manufacturers in view of the fact that we want to make sure that cost of doing business is reduced. We are hoping that will be the case.”

Jacobs stressed that

MAN opposed the former CTN under the management of the Nigerian Port Authority (NPA), because of the high cost imposed on shippers.

He noted that shippers were made to pay 150 euros per container.

Although, there was adequate consultation with the former CTN but at the end of the day, they came out with a document different from what was agreed in the negotiations, he said.

represented by a legal team.

But his hard posture on the matter did not go down well with the former minister. Abdullahi was consequently kicked out of office in the twilight of the Goodluck Jonathan administration on this score and Alhaji Lamido Sanusi Ado Bayero was asked to take over and since Lamido took over, a total of N1.5 billion ($7.5 million) has been released to CCM for the controversial project.”

The fear To this end, his reappointment last week did not go well with some top management of the authority who openly celebrated the exit of Abdullahi.

The source said: “Some thought he was gone for good.

Others took advantage of the inexperience of the former Managing Director, Ado Bayero, to commit all sorts of atrocities in the authority. They feared that Abdullahi will fish them out and recommend them for appropriate punishments.”

Abdullahi returns A statement by the presidential spokesperson, Mr. Femi Adesina had directed Bayero to hand over the management of the NPA and all government property in his possession to Abdullahi, who was reinstated as the managing director.

He was first appointed NPA managing director on 1st August 2012.

Conclusion It would recall that Bayero was appointed to succeed Abdullahi on April 29, 2015, one month to the end of former President Goodluck Jonathan’s administration. No reasons were given by the administration for the action, which was largely condemned by stakeholders as vindictive.

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Business | Maritime

INVESTMENT New dockyard to serve West African countries

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he International Finance Corporation (IFC), has teamed up with five private firms to build the Badagry Dry Dock project at N300 billion ($1.5 billion).

The companies are: Sifax Logistics and Marine Services Limited, Energy Nature Limited, GMT Energy Services Limited, Japaul Oil and Maritime

WEDNESDAY, AUGUST 19, 2015 NEW TELEGRAPH

IFC, five firms to finance N300bn Badagry dockyard Services PLC and SIVC Infrastructure DMCC (Sahara Group Limited).

It was learnt that the company would operate under one name, Badagry Ship Repair and Maritime Engineering Company (BSMEC).

Already, the Chairman of the consortium, Dr. Taiwo Afolabi, has denied the insinuation that NLNG was funding the project.

He said: “BSMEC is the sole owner of the Badagry Dry Dock Project and no one else.

BSMEC is made up of five different successful Nigerian companies which came together as core investors to form Badagry Ship Repair and Maritime Engineering Company.

“Nigeria Liquefied Natural Gas is not a part of the consortium and

is not an investor in the construction of the dry dock project. To be clear, the Badagry Dry Dock will be used for the maintenance of a wide range of oil and gas related vessels including very large crude carriers (VLCCs), offshore drilling rigs, and offshore support vessels, in addition to large LNG carriers.”

He explained that the dockyard would be a hub

to be used for dry docking vessels from other West Africa countries.

Afolabi added that the choice of location was made on a purely business interest basis after taking into account several factors considered important to investors.

He added that the project was in line with the government’s drive for Nigerian content, noting that it would help

to address capital flight and create capacity for the country.

Reefer containership to rise 20% by 2018

A

annual review and forecast by a research firm, Drewry Maritime Research, has revealed that the reefer containership fleet, which increased by 15 per cent year-on-year, is set to grow 20 per cent by 2018.

In its latest reefer shipping market report, the firm said that there was no alternative but for cargo to be shipped by reefer containership.

It noted that the world was currently witnessing a trend in cargo growth.

The firm noted: “Seaborne reefer cargo grew 4.9per cent in 2014, all of which, and more, was carried by the reefer containership mode of transport. Despite the significant increase in reefer containership capacity, cargo growth is also forecast to be strong.

‘This will leave utilisation levels on the reefer containership fleet virtually unchanged over the next few years at 20.4 to 20.6 cargo tons per ‘000 cubic feet equivalent of reefer container capacity.

The firm added that many container carriers were focusing on reefer-intensive services to compete with the specialised mode.

“The specialised reefer fleet had an average age of 25 years,” it said.

Also, a top official in the firm, Mr. Kevin Harding, said: “With little likelihood of new ships, in the large size range at least, ongoing recycling is inevitable, as is a shrinking fleet.”

Harding disclosed that specialised reefer operator, Seatrade was investing in a new building programme of fully containerised reefer vessels, seeking to differentiate itself from the liner container carriers with shorter transit times, direct routings and reeferdedicated box shipping services.

He noted that the firm had placed an order for six vessels of between 500 and 700 Forty Equivalent Unit (FEU) of reefer capacity, and options for a further six.

Business | Maritime

NEW TELEGRAPH WEDNESDAY, AUGUST 19, 2015

33

Shipping line upgrades service in Apapa, others SHIPPING Liner alters routes to improve services Stories by Bayo Akomolafe

W

orldwide shipping line, the CMA CGM Group, has announced plans to upgrade its services by joining Europe to Apapa, Tincan, Tema, Dakar, and Abidjan ports in West Africa.

The move is to improve its service in the region.

Also, the company has altered its Europe-Africa (EURAF) routes. The routes are EURAF 1, EURAF 2 and

EURAF 4 services with the goal of providing a more complete service offering to Africa, North Europe and the Mediterranean.

Under the EURAF 2 service, the liner has been upgraded with a new weekly call at the Nigerian port of Apapa.

Similarly, the company said that an additional vessel would be operated on the new EURAF 2, with 43,500 TEUs vessels. The new rotation are Algeciras, Tincan, Apapa, Tema, Tangiers, Algeciras.

It was revealed that the EURAF 1 service, that connects North European to West African markets, would add a call at London Containers Terminal - Tilbury - each week.

The shipping line explained

that the new call would directly join the United Kingdom to Africa to provide competitive transit times, by allowing the export of banana reefer containers from West Africa to England.

The inaugural call of the rotation in Tilbury took place last week. In the new arrangement, Algeciras, which used to be called only once on the previous rotation, would now be called twice at the exit of Europe and between Africa and North Europe.

In the new arrangement, six vessels with a capacity of 3,500 TEUs each will sail the following routes: Tilbury, Le Havre, Montoir de Bretagne, Algeciras, Tangiers, Dakar, Abidjan, Dakar, Algeciras, Dunkirk,

Antwerp, Tilbury.

The company explained that African markets would be connected via the FEMEX service.

In a statement, the company’s Vice President Africa lines, Jean-Yves Duval, said:: “The EURAF 4 service will call Marseilles. The service connects West Africa to many worldwide markets through its calls in Italy, Spain, and the CMA CGM hub of Malta that offers connections to East Mediterranean, “Seven vessels with a capacity of 2,200 to 2,700 TEUs each will call each week: Malta, Livorno, Genoa, Marseilles, Barcelona, Valencia, Tangiers, Cotonou, Lomé, Port Gentil, Libreville, Tangiers and Malta.

“CMA CGM constantly

Tug boat pulling a ship at Tin Can Island, Lagos

Customs grant NAGAFF operating license

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he Nigeria Customs Service (NCS) has granted operating license to the National Association of Government Approved Freight Forwarders (NAGAFF).

The Chairman Board of Trustees of the association, Mr. Chidiebere Enelamah, explained that the latest development was part of the efforts which NAGAFF and the Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) were

M

eanwhile, the Service has seized some 13,960 cartons of poultry products valued at N 45,470,441 in five weeks.

A breakdown of the seizures showed that the Ogun Command impounded 6, 565 cartons with a duty paid value of N2, 937,440, Also, the Customs anti smuggling unit in Zone A, Lagos recorded 1,395 cartons worth N7.53million.

Similarly, the Federal Operation Unit (FOU) Zone B in

making to ensure professionalism and best practices in the ports and freight forwarding in Nigeria.

He advised members of the association to take advantage of the license to secure compliance in cargo clearance at ports and approved border stations.

Enelamah said: “Over the time, we have told our sister associations that the time has come for consolidation and unique approach to freight forwarding practice

as a profession. We intend to enter into strategic alliance with the NCS as part of efforts and contribution towards blocking all loose ends leading to revenue leakages.

“It is our advise that our sister association should start thinking in the direction of consolidation of practices with a view to helping the ongoing efforts of the Federal Government in its anticorruption crusade.”

works at improving its offering between North Europe, the Mediterranean and West Africa. The coverage of all African markets is ensured by the Tangiers and Algeciras hub strategy that enables CMA CGM to provide its clients the best services and transit times. Those services are settled to respond to African exporters needs, including their Reefer containers demands.

Those improvements have one single objective - satisfying our clients the best we can.”

He noted that CMA CGM now sail to 28 ports in West Africa.

Duval said that the company had developed its presence by strengthening its maritime services and pursuing its inland development.

Meanwhile, a new ultra large vessel, with a length of 398-meter-long, 18,000 twenty Equivalent Unit (TEU) containership, is the second in a series of six vessels of the same size that will enter service for CMA CGM in 2015, joining the group’s fleet of 460 ships.

The United Kingdom flagged MV George Forster was delivered to the CMA CGM Group on June 2, 2º15 in South Korea, when she began her first rotation sailing the group’s French Asia Line (FAL).

She will call 11 different countries, including stops to ports in China, Malaysia, Egypt, the Mediterranean and the Atlantic coast up to Germany.

The vessel is named after the famous 18th Century German travel writer, who was part of the James Cook’s expedition in Southern Seas.

Forster is considered one of the founders of ethnology and anthropology.

Evergreen Awards hold August 27 T he sixth edition of the National Evergreen Maritime Merit Awards (NEMMA) is to hold next week in Apapa, Lagos.

According to a statement by the publisher of People’s Forum newspapers, promoter of the event, Mr. Tunde Ojudun, the annual event would hold at Mobil Pegasus, Apapa, Lagos.

The statement said that winners of the award have

emerged.

He added that this year’s event had been packaged for stakeholders to network, wine and dine.

The statement said that the decision to hold the annual National Evergreen Merit Awards was born out of the desire to honour few distinguished maritime stakeholders who were rendering selfless and patriotic service to the sector.

...Seize over 13,000 cartons of poultry products Kaduna, confiscated 6,000 cartons valued at N35million.

In his assessment of the seizure trend, the ComptrollerGeneral of Customs, Dikko Inde Abdullahi, stated that smugglers of poultry products were now exploring routes in the Northern and Eastern parts of the country to perpetrate the illegal trade.

He commended the Federal Operations Units in Lagos

and Kaduna for their huge seizures, and put other commands on alert.

Abdullahi noted that the FOU Operatives in Kaduna actually apprehended two trucks conveying smuggled poultry products at Gidan Wali, along Babana border in Niger State.

Meanwhile, the Poultry Association of Nigeria (PAN), has commended the NCS, over the ongoing clampdown

on poultry products smugglers The PAN, in a statement by its Director-General, Onallo Akpa, said:”The leadership of the Poultry Association of Nigeria appreciates the excellent performance through various acts of onslaught, arrests and confiscation of smuggled poultry products into the country.

This is very unprecedented, as we can boldly say that operation ‘Hawk Descend’ is a

highly successful exercise.”

It will be recalled that recently, the service signed a bilateral agreement with the Customs Administration of Benin Republic to synergise and share intelligence to boost operations along the borders.

To actualise this agreement, NCS supported Benin Customs administration with a donation of five brand new pick-up Double Cabin vehicles.

34

Photo | News

WEDNESDAY, AUGUST 19, 2015 NEW TELEGRAPH

Enugu State Governor, Ifeanyi Ugwunyi, during a grand reception in his honour by Orba Udu General Assembly in Enugu.

Kaduna State Governor, Nasir El-Rufai (middle), addressing a group demonstrating in support of the governor’s demolition of illegal buildings, in Kaduna …yesterday.

PHOTO: NAN

L-R: Director, Federal Ministry of Aviation, Dr. Ibrahim Idris; Director General, Nigerian Civil Aviation Authority, Capt. Mukhtar Usman; Permanent Secretary, Ministry of Aviation, Hajia Binta Adamu Bello and General Manager, LASEMA, Michael Kolawole Akindele, during a visit to the site of thr helicopter crashe by the team of the Federal Ministry of Aviation, in Lagos…on Thursday.

Governor, Rotary Club International, District 9125, Dr. Mike Omotosho (right), President, Rotary Club of Jos Central, Laide Lawal, during the presentation of medical items to representative of the Founder of ‘Open Door Special Education Centre, Mrs. Maria Nwauze, in Jos …yesterday.

L-R: Deputy Corps Marshal, Operation, Federal Road Safety Corps (FRSC), Adie Abu; Corps Marshal, Boboye Oyeyemi and Deputy Corps Marshal, Admiration, Chidi Nwachukwu, after a press briefing on the state of traffic on the nation’s highways and Federal Road Safety effort in Abuja.

PHOTO: ELIJAH OLALUYI A cross section of graduating primary school pupils of Hill Montessori School, Abuja.

A cross section of graduating nursery school pupils of Hill Montessori School, Abuja.

L-R: Chief Student Counselor, National Open University of Nigeria (NOUN), Apapa, Dr. Dele M. Aderigbigbe; Centre Director, NOUN Special Study Centre 4, Navy Capt. Stephen Aiyepeku and Principal Officer Registrar, Dr. Ose Adusanya, at the presentation of students’ notice board to the varsity by Damian Azubuike Foundation, held in Apapa, Lagos.

PHOTO: TONY EGUAYE

Politics 35

NEW TELEGRAPH WEDNESDAY, AUGUST 19, 2015

Senators have kicked against planned reduction of their pay cut, writes CHUKWU DAVID

T

wo weeks after the 2015 Presidential and National Assembly elections, the National Institute for Legislative Studies (NILS), organised a five-day induction course for the newly elected members of the nation’s federal parliament to indoctrinate them in the business of legislation.

At the International Conference Centre (ICC), venue of the event, some of the then members-elect, enthusiastically expressed their varied and unhindered opinions on diverse issues of national interest. Many of them desperately sought audience with journalists to ventilate their views on some contentious and topical issues generating heat in the polity.

One of the issues, which was widely and ambitiously discussed while granting interviews to journalists by the new legislators was the issue of reducing the emoluments of public office holders, including members of parliament, as a means of cutting the high cost of governance in Nigeria.

Accordingly, some of the legislators, particularly senators, who expressed their views during the induction course, demonstrated willingness and support towards the idea of cutting the salaries and allowances of politicians and their aides, in order to save money to be able to execute developmental projects in the country.

In particular, Senator Dino Melaye (APC, Kogi State), during the induction course, vowed to champion a campaign for salary cut for federal lawmakers in the Eighth National Assembly.

He said that legislators must begin to sacrifice their comfort by allowing a reduction in their pay package, adding that money realised from the exercise would be used for developmental projects and effective oversight functions.

Also, Senator Ben Bruce, who represents Bayelsa-East Senatorial District on the platform of the Peoples Democratic Party (PDP), said that he would support any reduction in the pay package of members of the National Assembly, noting that they were elected into the Senate to render service and not to waste taxpayers’ money through bogus emoluments.

Uncomfortable with the negative public opinion the issue of financial remuneration of federal lawmakers has attracted, the Senate, shortly after its inauguration on June 9, set up an Ad hoc Committee on Finance to look into the budget of the Chamber, with a view to reviewing its finances in line with current economic realities in the country and also to assuage agitations by members of the public for a cut in the salaries and allowances of the parliamentarians.

The committee was mandated to carry out a thorough fiscal scrutiny on the budget of the Chamber, with a view to coming up with the best cost-effective regime in the Eighth Senate.

The 10-member committee, according to Senate President Buko-

Senators in dilemma over pay cut

Saraki

la Saraki, would look at the best strategy to align with the current administration’s efforts to ensure reduction in cost of governance, which he said, had been a sensitive matter on the front burner of national issues.

He said the committee would ascertain details of salaries and allowances each senator deserves with a view to unravelling the ambiguity in the monthly salaries and allowances of legislators.

Saraki stated that there should be clarity, accountability and transparency in all legislative matters and legislators’ welfare.

He said: “The 8th Senate under our watch recognises the concerns raised by Nigerians about the cost of running office, most especially with the economic challenges facing our nation.

“The Senate will be more transparent regarding all public funds spent for the purpose of paying salaries and allowances of legislators and ensure that distinction is sufficiently made between what a legislator actually earns and what was being spent to run and implement legislative business and committee activities.”

The committee submitted its report a fortnight ago and the Senate scheduled to consider the document last Wednesday August 12. Among its recommendations is one which seeks to make the finances of the Chamber very open and transparent in addition to slashing legislators’ earnings by 30 per cent.

Unfortunately, the content of the report provoked most of the lawmakers, who vehemently opposed the idea of further reducing their earnings by 30 per cent as recommended by the report.

Consequently, the Senate suspended indefinitely the proposal as a result of the sharp disagreement and stiff resistance of majority of the senators to the planned reduction in their finances.

At a closed session that lasted for over two hours, senators

Manager

What I earn here cannot pay my children’s school fees

opened formal deliberation on the Senator James Manager-led ad hoc committee. But the senators could not take a decision as a result of the heated debate that ensued at the session.

Saraki announced at the end of the close session that the Senate deliberated on the report for the review of its finances and approved to stand down the report for additional legislative inputs.

But investigations by New Telegraph revealed that only key members of the leadership of the Senate were in support of the proposed slash in members’ emoluments.

It was gathered that almost all the other senators were strictly opposed to the idea, as they argued that the legislators had so much financial commitment to both their constituents and other members of the society that any further reduction would subject them to serious financial embarrassment.

It was learnt that many senators opposed the idea of making Senate finances open since it was already accommodated in the law.

The grievance of those against the initiative, was that nobody was disturbing other public servants especially those in the executive arm such as ministers and advisers to make their emoluments public.

Others were said to have kicked against the planned cut in salaries because they believed that such actions would never change the perception of Nigerians about the National Assembly, which appears to have been publicly stigmatised over financial impropriety since inception of this democracy.

One senator stated that the swift intervention of Saraki saved the report from being thrown out as only few senators supported the Senate leadership in canvassing the new policy which majority of senators described as quite unnecessary.

A senator who supported the proposal, however, argued that it

would portray the National Assembly in good light particularly as the president had already announced that he would take only half of his salary.

For instance, Senator Matthew Urhoghide (PDP, Edo South) who reacted to the controversy over the pay cut, pointed out that the lawmakers had demands that outweighed their financial remunerations, and wondered why it was only the National Assembly that the public was interested in its finances.

He said: “In 2015, the budget of the National Assembly was reduced because of public outcry. And everybody know that the financial involvement of the National Assembly is not only the Senate and the House of Representatives. You have National Institute for Legislative Studies (NILS), with huge number of staff; the management of the National Assembly, the National Assembly Service Commission.

“Remember the involvements of the National Assembly members keep increasing. All of us have people at our constituencies.

We have constituency offices, and we have to pay the staff. If you reduce the budget, who is going to pay them?

“The request made on senators here keep increasing every day. Where do you think a senator will have the resources to meet these challenges. So, let us talk to ourselves; otherwise, many of us will not be here, we go and do our businesses.

“What I earn here cannot pay my children’s school fees. What I earn here cannot even go round a lot of demands people are making on me every now and then. Even if you don’t earn anything at all, they will still say why don’t you contribute to the society.”

Now with the stalemate which greeted the consideration of the report, it is therefore, not certain whether or not the Senate would re-open debate on the matter in the nearest future, particularly as the Chamber has commenced its annual end of session recess, which would terminate on September 29.

But the spokesman of the Senate, Senator Melaye claimed that there was an understanding among senators that the decision to slash the finances of the Senate could not be taken in isolation, without serious consultations with the House of Representatives and the National Assembly Management.

He said: “After some deliberations, we reached the conclusion that since the budget of the Senate is not independent of the National Assembly budget which also includes the budget of the House of Representatives, National Assembly Management, and National Assembly Service Commission, we need to consult with all these stakeholder organs of the National Assembly before we conclude.”

36

Politics

WEDNESDAY, AUGUST 19, 2015 NEW TELEGRAPH

Fayose has tried to nail me –Fayemi

nary Nigerians. He believes he has been put in office largely by ordinary Nigerians. Those of us who are privileged to have worked with him; strategised, campaigned and did a lot of that; if he was not able to convince the ordinary Nigerians out there that he has what it takes to help lift them from their positions of misery, people may probably not believe in the change that our campaign was on. So, that simply put to policy direction, how this now manifests itself in health, security, education, infrastructure, oil and gas; you name it, would cascade from that general framework. Our conceptual ideological framework is social democracy; bettering the lot of the Nigerian people.

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

truth of the matter is that once Nigerians see sincerity of purpose in their leader, they do tend to follow in the footstep of the leader. Not much has really been done by our government yet; not even much is known about the policy direction of this government, yet the body language of this government is very clear.

People are responding to body language; they are not even responding to policy yet. They are responding to the body language of the leader because only few people are in government in Nigeria today. President Buhari, Vice-President Yemi Osinbajo, Femi Adesina, Shehu Garba and a few others. The people in government are less than 10. The positions to feel in government are about 5,000, yet Nigeria is changing and I can give you concrete proofs. Electricity, what have you noticed in your house? We haven’t done anything beyond sorting out the contract of the Manitoba that was stuck with the previous government and that is transmission. We haven’t done much. This 4,000 plus megawatts were there.

I was a director, representing South-West in the NIPP power project initiative. We already have 5,000 megawatts of generating capacity since 2013 but instead of getting the 5,000 megawatts to serve the Nigerian people, what we witnessed in the last two years of Goodluck Jonathan’s administration was a dwindling of the megawatts almost to 1,800 by the time they were leaving. The only thing that has been done; the GENCOs realised that a new Sheriff is in town and this new Sheriff does not brook nonsense. The gas that was the difficulty in powering the generating capacity that I talked about suddenly became available and in no time 4,000 megawatts plus surface and Nigerians are enjoying the benefits and we have not done anything in terms of our own agenda of 4,000 megawatts every year.

Nigerians are responding to the sincerity of purpose of the man they have invested so much hope in by putting him in office. But sincerity of purpose and body language will not be enough. Let me be honest with you, we need a clear roadmap and I can tell you that roadmap is there and President Buhari is one person who is very systemic in his approach. You can’t rush him; you can’t intimidate him, you can’t harass him, you can’t bring your private agenda to him and masquerade it as public agenda. He is comfortable in his scheme; he is convinced about what he wants to do and he knows that he doesn’t have all the answers. He knows that he doesn’t have all the answers and he consistently mention to Nigerians that I am going to assemble competent people, who have integrity.

And the recent appointment of the Group Managing Director of NNPC has just demonstrated that to many people. If you put that at the back of the service chiefs, who he never met and I don’t believe that he ever met Ibe Kachikwu until the idea of him becoming GMD started percolating under the surface. So, we do need a president that is clear about his agenda; that is respected and can be trusted both by Nigerians and the international community.

I think we have such a president and he is not going to be a dash; it is going to be a marathon because a lot has been damaged in Nigeria. Nigeria has been hollowed out by the departing Goodluck Jonathan government and its agents.

They have nearly destroyed the country and almost left us with a carcass. So, it is going to take a while to turn it around but one will know that the new Sheriff in town will not brook any compromise or any malfeasance or infraction.

Even from his own side, he is not going to. The fact that you are an APC chieftain or you are a Buhari family member is not likely to get you a reprieve in this government if you are caught with your hand in the cooking jar. It is not going to help you.

So, I will like to think that we are in for tough love but you know what tough love is. We all smack our children when they are not doing well, not because we dislike or hate them but because we want them to be better at what they do and to even rise above whatever achieve-

Fayemi

ments that we have accomplished in life. I think that is what Nigerians are going to get from the president. He is not likely to be smiling at us every day. He is not given to responding to media stimuli the way the people in media will love.

But he clearly loves Nigeria and he is patriotic about the country and he is going to turn out to be a major turning point for our country in terms of how he is going to make Nigerians also part of this change fundamentally. There would be a lot of hope to join on the way and there would be a lot of challenges to confront.

It is not going to be a smooth sail but he never really promised us a smooth sail. I think what he promised is that he will put all his heart and mind to it and give Nigeria his best.

Fayose has looked everywhere in Ekiti for a way to nail me... I don’t believe he is the right person for the state

And his critics say he is slow...

I have heard the saying about him being slow.

Action without thought always resorts in failure. You can get that momentary excitement, action governor and you will see them going to check drains; driving themselves, doing all manner of make-belief. It is not based on reflection, planning and careful thought. Successful governments are always government given by philosopher kings; people who think through what they are doing; subject them to critical analysis and scrutiny, and then come up with options. How come Nigerians are commending the president for the choices he has made so far? They are not political choices; he didn’t even know them.

How about the policy direction of the administration?

We are a social democratic government and we run a very clear platform. When you read APC manifesto, Rebuilding Nigeria, you will see that it is about building a society, where nobody is left behind. That is not what we have seen in the last five years. The government that left office actually divided this country; created a tinning, mindlessly rich, criminally wealthy percentage of Nigerians and plunging the majority of Nigerians into a further depth of poverty and miserable. And we are not just divided on economic terms; we were divided ethnically, religiously and regionally.

That is what the Jonathan administration did to Nigerians. And when you look at some of the things that the president is already doing, you will know that this is not a man given to promoting the hegemony or agenda of a particular ethnic group or religious interest. For him, it is about improving the lots of the ordi-

One of the issues that Nigerians have been asking question since the president came to power has been the issue of security, especially in the NorthEastern part of the country. After his visit to United States, the PDP said it is same of the same. What do you think has been done at this point?

They will say it is the same of same because they don’t really know what security is about.

Security is not something you just blab about.

For anyone who wants to be fair to President Buhari will actually give him a credit. If there is something that he has spent time on since he became president, it is security, particular the security of the North-East. All his trips have been associated with that; G-7, America, Cameroon, Benin, Chad, Niger, all associated with ensuring that we build a regional coalition to rout Boko Haram. He has also gone as far as saying: ‘I am not averse to even negotiating, as long as I am negotiating with credible representative of the insurgents. Anything that will help me to bring back the girls; anything that will help me to return back the Internally Displaced Persons (IDPs) back to their families, anything that will help me to restore the economy of the North-East, I am ready.’ And look at the speed; $2.1 billion from the World Bank specifically for the North-East. The pioneering initiative started under Jonathan but it is being deepened

by President Buhari. Look at the appointment of competent people as service chiefs.

But let’s not kid ourselves, the Boko Haram challenge, even when they are routed would not mean the end of the crisis. It will just give us the opportunity to deepen it via a developmental strategy and that has always been the position of the president; that we must cut the oxygen that is propelling this crisis.

Look at his decision on the implementation of the United Nations Environmental Report (UNEP) on Ogoniland and the appointment of Brigadier General Boroh as head of Amnesty programme, you will see that for him it is not about selective security; it is not just about security for the North and abandonment of the South like some people are thinking and accusing us of when we were campaigning. This is a man who has a holistic approach to issues. So, when people say he is slow, he has already acknowledged when people are calling him ‘Baba Go Slow,’ which he wears as badge of honour as long as he gets the job done. He is steady, committed and there is no many 72 years old who can keep his work schedule. So, Nigerians should be thankful that we have a president who is totally committed to turning around the fortune of this country for the better.

How do you see the revelation from the former Chief of Defence Staff, Alex Badeh, that he presided over an ill-motivated and ill-equipped military?

Because of bad leadership; that is how I see it. Leadership defines everything. I do think that statement should be taken with the pinch of salt.

The budget of the Ministry of Defence and the security agencies in the last five years of President Jonathan was over N5 trillion. They have a lot of explaining to do because resources were made available to them; what did they do with the resources. How come the resources did not get to the troops? What happened between collection and disbursement? Even regular allowances to soldiers in the warfront was a problem, not to mention insurance for those who lost their lives in the line of fire.

Business | Money Line

NEW TELEGRAPH WEDNESDAY, AUGUST 19, 2015

TSA’ll boost competition in banking industry –Analysts

EFFICIENCY

Lenders will be more creative in sourcing deposits Tony Chukwunyem

T

a result of the TSA implementation, lenders will be forced to think of more creative ways of sourcing deposits and improving service delivery.

Speaking on the programme, a Development and Policy analyst, Mr. Bolaji Ogunseye, stated that the implementation of the TSA was a welcome development, as it would make banks to more actively perform their financial intermediation functions.

Ogunseye said the

T

CBN accredits Superflux, NSPMC, others to print cheques

he full implementation of the Treasury Single Account (TSA) regime will increase competition among banks, analysts have said.

The analysts, who spoke on an African Independent Television (AIT) programme monitored in Lagos yesterday, pointed out that with the closure of bank accounts of key Ministries, Agencies and Departments (MDAs) as he Central Bank of Nigeria (CBN) has announced its accreditation of Superfux International Limited, Tripple Gee and Company Plc, the Nigerian Security Printing and Minting Plc, Euphoria Group and Papi Printing Company, to print cheques for the Nigerian market.

The apex bank stated this in a circular to Deposit Money Banks (DMBs), cheque printers and other stakeholders posted on its website yesterday.

The regulator pointed

out in the circular that it neither accredited nor reaccredited foreign-based printers in line with its policy on the domestication of cheque printing in the country.

In 2013, the CBN, in collaboration with the MICR Technical Implementation Committee and in line with the Nigeria Cheque Printers’ Accreditation scheme quali-

banks have not been living up to their names as commercial banks and had over the years depended heavily on MDAs’ deposits, while largely ignoring Small and Medium Enterprises (SMEs).

He said: “The TSA will force banks to sit up. They have been living in comfort zones and have not been thinking ahead. But with the TSA all this will change.”

Also speaking on the programme, the President of the Independent

fication criteria, reviewed the list of firms printing cheques in the country. At the end of the exercise, only two local printers were selected.

Delisted foreign printers at the end of that exercise included: Kalamzoo Secure Solutions Ltd, Birmingham, England; Security Print Solution, UK; CFH Total Document Mgt Ltd, England and

Shareholders Association of Nigeria (ISAN), Sir Sunny Nwosu, said that the TSA will boost transparency in the financial system, as it would enable government to keep track of revenue collected by the MDAs. He, however, pointed out that contrary to widespread belief, the implementation of the TSA would not result in huge losses for banks. He explained that lenders will still collect fees and commissions on the services

Smith and Ouzman Ltd, England.

Others are Tall Security Print Ltd, England; A1 Trade Print Services, England; Corrinum Continous Ltd, UK; Euphoria Comm. Ltd, UK; and DLRS Group, Ireland.

Also affected are Camelot Ghana Ltd, Accra, Ghana; and Shave and Gibson Group based in South Africa.

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

As at Mar, 2015 Mar, 2015 July, 2015 4/6/2015 Mar 2015 14/8/2015 13/8/2015

N19,142,526.05m N18,579,219.49m 9.2 13 10.77 US$48.17 US$31,619,702,866

Source:CBN

Description 13.05 16-AUG-2016 15.10 27-APR-2017 16.00 29-JUN-2019 15.54 13-FEB-2020 16.39 27-JAN-2022 14.20 14-MAR-2024 10.00 23-JUL-2030 12.1493 18-JUL-2034

FGN Bonds

TTM

Price 97.64 99.12 101.35 99.78 103.72 94.41 68.00 79.49

0.99 1.69 3.86 4.49 6.44 8.57 14.93 18.92

NIBOR

Tenor (Days) Call 30 90 180

Rate (%) 25.9167 17.9912 19.9617 21.0741

Bid Yield 15.70 15.67 15.50 15.61 15.45 15.39 15.57 15.53

Change (%) -8.38 ▼ -0.76 ▼ -1.57 ▼ -2.50 ▼

Change (%) 0.01 ▲ 0.18 ▲ -0.02▼ 0.10 ▲ 0.06 ▲ 0.16 ▲ 0.00 ↔ 0.17 ▲

Price 97.79 99.27 101.65 100.08 104.02 94.71 68.30 79.79

Tenor (Months)

Offer Yield 15.53 15.56 15.40 15.51 15.38 15.32 15.50 15.47

NITTY

1 2 3 6 9 12

Treasury Bills

Rate (%) 15.5979 15.6356 15.8141 15.8797 16.0822 17.0752

Change (%) 0.01 ▲ 0.18 ▲ -0.02 ▼ 0.10 ▲ 0.06 ▲ 0.16 ▲ 0.00 ↔ 0.17 ▲ Change (%) 1.19▲ 0.50 ▲ 0.42 ▲ 0.29 ▲ 0.41 ▲ 0.24 ▲

Money Market

Maturity Date Discount Bid Yield Change (%) Discount Offer Yield Change (%) Rate (%) Change (%) 14.90 15.44 0.32 ▲ Open-Buy-Back (OBB) 20.00 1.67 ▲ 12-Nov-15 15.15 15.71 0.32▲ 13.21 14.15 0.09 ▲ Overnight (O/N) 20.50 -0.75 ▼ 18-Feb-16 13.46 14.44 0.09 ▲ 13.89 16.04 -0.10 ▼ 4-Aug-16 14.14 16.38 -0.10 ▼

Spot($/N)

Bid 197.13

FX

Offer 197.23

Change (%) -0.01 ▼

NIFEX

Spot($/N)

Bid 199.0000

Offer 199.1000

Change (%) 0.00 ↔

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

196.00

197.00

0.00 ↔ Source: FMDQ

they would render to the MDAs. Although the TSA initiative was mooted by past administrations, it was not fully implemented until recently when President Muhammadu Buhari ordered that all MDAs including key agencies such as the Nigerian National Petroleum Corporation (NNPC), the Nigerian Customs Service (NCS), the Central Bank of Nigeria (CBN) and the Federal Inland Revenue Service (FIRS) among others, should comply with the directive.

According to some reports, the TSA would lead

37

to banks losing about N2 trillion deposits to the CBN. In a statement, Afrinvest Group, a Lagos-based financial investment house, said : “Whilst the directive issued came as the first official statement by the Presidency on the TSA, the Nigerian National Petroleum Corporation, NNPC, had earlier began withdrawing its funds from banks for retirement into CBN. This had an impact on liquidity level in the banking system, resulting in a surge in money market rates during the period, as banks scrambled for funds to cover their liquidity positions.

“With the TSA implementation now extended to all federal MDAs, the Nigerian banking industry, on an aggregate basis, would be affected in terms of deposits and funding cost structure.”

GTBank obtains multiple ISO certifications

G

uaranty Trust Bank Plc has been awarded a triple International Organisation for Standardisation Certification: ISO/IEC 27001- for Information Security, ISO 20000 – for IT Service Management and ISO 22301 – for Business Continuity Management along with PAS 99:2012 Integrated Management System certification by the British Standard Institute (BSI).

In a statement, the lender explained that the BSI certification recognises companies that have implemented systems and structures that ensure their operations are in line with international best practices. With more than 70,000 certified clients and more full-time assessors than any other certification body worldwide, the BSI Group is one

of the largest and most experienced certification bodies focused primarily on training, auditing and certification of qualified organisations.

According to the statement, “The certification attests that Guaranty Trust Bank has instituted internationally accepted processes that guaranty the security of its customers’ information, the ability of the institution to consistently provide quality service and its capacity to resume business within a short timeframe in the event of any business disruptions.

The Bank embarked on gaining the certification of its Management System Standards last year in order to align with international best practice and meet the increasing expectations of its various stakeholders.”

Skye Bank concludes financial training for students

S

kye Bank Plc said it had concluded its financial training programmes for secondary schools for the 2014/2015 calendar year.

The financial training programmes were designed to empower Nigerian youth with the necessary entrepreneurial and financial planning skills to help them live a purposeful life during adulthood.

According to a statement issued by the bank, the Sustainability and Consumer Protection department, which anchored the training, explained that the training programmes were based on the ongoing Financial Literacy Mentoring and Skye Financial literacy seminar initiatives

of the bank.

The statement said Government Day Secondary School, Wuse 2, Abuja, was adopted for the mentoring programme where the training developed by Junior Achievement of Nigeria (JAN) was administered to the students over the course of the 2014/2015 academic session. A total of 84 contact hours were devoted to delivering the 7-modules training to all the students in the 6 arms of the school.

According to the bank, the lecture focuses on money, how to make, manage and multiply money as well as the role of banks and other financial institutions in the management and multiplication of money.

Business | Financial Market News

38

WEDNESDAY, AUGUST 19, 2015 NEW TELEGRAPH

FMDQ Daily Quotations List

18-Aug-15

The DQL contains data relating to, amongst other things, market and model prices, rates of foreign exchange products, fixed income securities and instruments in the financial market (the “Information”). The Information does not constitute professional, financial or investment advice. We attempt to ensure the Information is accurate; however, the Information is provided “AS IS” and on an “AS AVAILABLE” basis and may not be accurate or up to date. We do not guarantee the accuracy, timeliness, completeness, performance or fitness for a particular purpose of any of the Information, neither do we accept liability for the results of any action taken on the basis of the Information.

Bonds FGN Bonds

Price

Rating/Agency

Issuer

NA

NA

Description ^13.05 16-AUG-2016 ^15.10 27-APR-2017 9.85 27-JUL-2017 9.35 31-AUG-2017 10.70 30-MAY-2018 ^16.00 29-JUN-2019 7.00 23-OCT-2019 ^15.54 13-FEB-2020 ^16.39 27-JAN-2022 ^14.20 14-MAR-2024 15.00 28-NOV-2028 12.49 22-MAY-2029 8.50 20-NOV-2029 ^10.00 23-JUL-2030 ^12.1493 18-JUL-2034

Issue Date

Coupon (%)

Outstanding Value (N'bn)

16-Aug-13 27-Apr-12 27-Jul-07 31-Aug-07 30-May-08 29-Jun-12 23-Oct-09 13-Feb-15 27-Jan-12 14-Mar-14 28-Nov-08 22-May-09 20-Nov-09 23-Jul-10 18-Jul-14

13.05 15.10 9.85 9.35 10.70 16.00 7.00 15.54 16.39 14.20 15.00 12.49 8.50 10.00 12.1493

581.39 480.13 20.00 100.00 300.00 351.30 233.90 311.93 605.31 599.99 75.00 150.00 200.00 591.57 370.50

TOTAL OUTSTANDING VALUE

4,971.02

TOTAL MARKET CAPITALISATION

4,477.74

Rating/Agency

Issuer

Description

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

0.99 1.69 1.94 2.04 2.78 3.86 4.18 4.49 6.44 8.57 13.28 13.76 14.26 14.93 18.92

15.70 15.67 15.67 15.66 15.59 15.50 15.56 15.61 15.45 15.39 15.65 15.69 15.73 15.57 15.53

15.53 15.56 15.57 15.56 15.51 15.40 15.44 15.51 15.38 15.32 15.59 15.63 15.65 15.50 15.47

97.64 99.12 90.56 89.34 89.24 101.35 74.37 99.78 103.72 94.41 96.35 82.10 59.29 68.00 79.49

97.79 99.27 90.71 89.49 89.39 101.65 74.67 100.08 104.02 94.71 96.65 82.40 59.59 68.30 79.79

Maturity Date

TTM (Yrs)

16-Aug-16 27-Apr-17 27-Jul-17 31-Aug-17 30-May-18 29-Jun-19 23-Oct-19 13-Feb-20 27-Jan-22 14-Mar-24 28-Nov-28 22-May-29 20-Nov-29 23-Jul-30 18-Jul-34

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Modelled Price

03-Apr-12 09-Dec-11 20-Apr-12 06-Jul-12

17.25 0.00/16.00 0.00/16.50 0.00/16.50

2.10 112.22 116.70 66.49

03-Apr-17 08-Dec-16 19-Apr-17 06-Jul-17

0.88 1.31 1.67 1.88

2.94 1.00 2.66 3.13

18.32 16.70 18.35 18.80

99.15 99.13 102.81 98.34

Agency Bonds FMBN ***LCRM

17.25 FMB II 03-APR-2017 0.00/16.00 LCRM 08-DEC-2016 0.00/16.50 LCRM II 19-APR-2017 0.00/16.50 LCRM III 06-JUL-2017

TOTAL OUTSTANDING VALUE

297.52

TOTAL MARKET CAPITALISATION

298.70

Sub-National Bonds A/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

0.04

4.44

20.00

99.73

A-/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

2.16

30-Sep-15

0.12

3.23

18.93

99.27

BBB+/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

2.60

30-Jun-16

0.62

4.46

19.19

97.07

A/Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

3.96

30-Jun-16

0.63

3.48

18.23

98.40

A+/Agusto; ‡ /GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

1.67

1.00

16.69

90.54

‡ /Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

21.24

30-Jun-17

1.16

1.00

16.70

97.01

A-/Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

2.37

1.79

17.42

‡ /Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

30.81

30-Sep-18

1.75

1.00

16.69

96.17

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

9.00

04-Oct-18

1.76

1.00

16.68

96.12

14.50

12.40

09-Dec-18

1.95

1.00

16.67

96.57 90.36

A-/Agusto; A-/GCR

NIGER

93.54

‡ /Agusto; A-/GCR†

*EKITI

14.50 EKITI 09-DEC-2018

09-Dec-11

A-/Agusto

*NIGER

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

9.21

12-Dec-18

1.95

4.78

20.45

A-/Agusto; A-/GCR

*ONDO

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

24.44

14-Feb-19

2.14

1.00

16.65

98.06

BBB+/Agusto; A-/GCR Aa-/Agusto; ‡ /GCR

*GOMBE LAGOS

15.50 GOMBE 02-OCT-2019 14.50 LAGOS 22-NOV-2019

BBB-/Agusto; BBB+/GCR

*OSUN

14.75 OSUN 12-DEC-2019

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

15.50 14.50 14.75

15.09 80.00 24.74

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

2.37 4.26 2.43

2.02 1.00 1.00

17.65 16.58 16.62

96.09 93.76 96.47

BBB-/Agusto

*OSUN

14.75 OSUN II 10-OCT-2020

10-Oct-13

14.75

10.46

10-Oct-20

2.97

1.82

17.39

94.26

Aa-/Agusto; ‡ /GCR

LAGOS

13.50 LAGOS 27-NOV-2020

27-Nov-13

13.50

87.50

27-Nov-20

5.28

1.00

16.54

89.52

A-/Agusto; BBB+/DataPro

KOGI

15.00 KOGI 31-DEC-2020

31-Dec-13

15.00

5.00

31-Dec-20

5.37

1.00

16.52

94.65

‡ /Agusto A-/GCR

*EKITI *NASARAWA

14.50 EKITI II 31-DEC-2020 15.00 NASARAWA 06-JAN-2021

31-Dec-13

14.50

4.30

31-Dec-20

3.21

1.00

16.55

95.23

06-Jan-14

15.00

4.31

06-Jan-21

3.24

1.00

16.54

96.36

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

437.71 409.71

Corporate Bonds BBB-/Agusto

*FLOURMILLS

12.00 FLOURMILLS 9-DEC-2015

09-Dec-10

12.00

9.38

09-Dec-15

0.31

1.00

16.58

98.62

BB/GCR

*CHELLARAMS

14.00 CHELLARAMS 06-JAN-2016

06-Jan-11

14.00

0.22

06-Jan-16

0.39

2.63

17.75

98.55

A+/Agusto; A-/GCR

NAHCO

13.00 NAHCO 29-SEP-2016

29-Sep-11

13.00

15.00

29-Sep-16

1.12

1.00

16.70

96.33

A-/Agusto

FSDH

14.25 FSDH 25-OCT-2016

25-Oct-13

14.25

5.53

25-Oct-16

1.19

1.34

17.04

97.04

A/GCR

UBA

13.00 UBA 30-SEP-2017

30-Sep-10

13.00

20.00

30-Sep-17

2.12

1.00

16.65

93.65

BBB-/GCR

18.00 C&I LEASING 30-NOV-2017

30-Nov-12

18.00

0.56

30-Nov-17

1.35

1.88

17.58

101.17

Nil

*C & I LEASING *DANA#{r}

MPR+7.00 DANA 9-APR-2018

09-Apr-11

16.00

5.40

09-Apr-18

1.39

1.00

16.71

99.14

A-/DataPro†; B+/GCR

*TOWER#

MPR+7.00 TOWER 9-SEP-2018

09-Sep-11

18.00

2.54

09-Sep-18

1.56

1.00

16.70

101.61

#

99.08

AAA/DataPro†; A/GCR

*TOWER

MPR+5.25 TOWER 9-SEP-2018

09-Sep-11

16.00

0.70

09-Sep-18

1.56

1.00

16.70

A+/Agusto; A/GCR

UBA

14.00 UBA II 30-SEP-2018

30-Sep-11

14.00

35.00

30-Sep-18

3.12

3.00

18.56

89.51

BBB+/Agusto; BBB+/GCR

15.75 LA CASERA 18-OCT-2018

18-Oct-13

15.75

2.10

18-Oct-18

1.67

2.29

17.98

96.94

BBB-/DataPro†; BB/GCR

*LA CASERA *CHELLARAMS#

MPR+5.00 CHELLARAMS II 17-FEB-2019

17-Feb-12

18.00

0.32

17-Feb-19

2.00

6.11

21.77

94.38

Nil

*DANA#{r}

16.00 DANA II 1-APR-2019

01-Apr-14

16.00

4.50

01-Apr-19

2.37

2.16

17.79

96.67

A+/Agusto; A-/GCR

NAHCO

15.25 NAHCO II 14-NOV-2020

14-Nov-13

15.25

2.05

14-Nov-20

5.24

2.76

18.30

89.91

BBB/GCR

FCMB

14.25 FCMB I 20-NOV-2021

20-Nov-14

14.25

26.00

20-Nov-21

6.26

1.00

16.42

91.65

A/GCR

UBA

16.45 UBA I 30-DEC-2021

30-Dec-14

16.45

30.50

30-Dec-21

6.37

1.58

16.98

97.90

A/GCR

STANBIC IBTC

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

30-Sep-14

16.29

0.10

30-Sep-24

9.12

1.00

16.34

99.72

A/GCR

STANBIC IBTC

13.25 STANBIC IB 30-SEP-2024

30-Sep-14

13.25

15.44

30-Sep-24

9.12

1.00

16.34

85.56

TOTAL OUTSTANDING VALUE

175.32

TOTAL MARKET CAPITALISATION

164.05

Supranational Bond AAA/S&P

IFC

10.20 IFC 11-FEB-2018

11-Feb-13

10.20

12.00

11-Feb-18

2.49

1.00

14.73

90.86

Aaa/Moody's; AAA/S&P

AfDB

11.25 AFDB 1-FEB-2021

10-Jul-14

11.25

12.95

01-Feb-21

3.70

1.00

16.52

86.12

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE

24.95 22.06

TOTAL MARKET CAPITALISATION Rating/Agency

Issuer

Description

Issue Date

Coupon (%)

Outstanding Value ($mm)

Maturity Date

Bid Yield (%)

Offer Yield (%)

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

7.10

6.87

98.45

99.45

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

5.82

5.45

98.16

99.13

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

7.37

7.19

94.12

95.17

FGN Eurobonds

Prices & Yields

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

FGN

BB-/Fitch; BB-/S&P

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,453.63

Corporate Eurobonds B+/Fitch; B+/S&P

GTBANK PLC I

7.50 MAY 19, 2016

19-May-11

7.50

500.00

19-May-16

4.55

4.55

102.13

102.13

B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

8.25

8.25

98.24

98.24

B/Fitch; B/S&P

FIDELITY BANK PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

15.19

13.46

82.00

85.38

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

8.48

7.93

93.12

94.61

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

8.49

8.49

93.03

93.03

B/Fitch; B/S&P

DIAMOND BANK PLC

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

11.41

10.80

92.03

93.78

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

FIRST BANK PLC ACCESS BANK PLC II FIRST BANK LTD

8.25 AUG 07, 2020 9.25/6M USD LIBOR+7.677 JUN 24, 2021 8.00/2Y USD SWAP+6.488 JUL 23 2021

07-Aug-13 24-Jun-14 23-Jul-14

8.25 9.25 8.00

300.00 400.00 450.00

07-Aug-20 24-Jun-21 23-Jul-21

9.74 11.81 11.20

9.74 11.44 11.20

93.70 89.53 85.75

93.70 90.99 85.75

B-/S&P

ECOBANK NIG. LTD

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

11.73

10.96

86.79

89.80

TOTAL OUTSTANDING VALUE

3,650.00

TOTAL MARKET CAPITALISATION

3,364.21

**Treasury Bills^ DTM 9 16 23 37 44 58 65

FIXINGS Maturity 27-Aug-15 3-Sep-15 10-Sep-15 24-Sep-15 1-Oct-15 15-Oct-15 22-Oct-15

Bid Discount (%) 15.62 14.97 14.94 15.47 15.48 15.55 14.90

Offer Discount (%) 15.37 14.72 14.69 15.22 15.23 15.30 14.65

Bid Yield (%) 15.68 15.07 15.08 15.71 15.77 15.95 15.31

Money Market Tenor

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 25.9167 17.9912 19.9617 21.0741

Rate (%)

OBB

20.00

O/N

20.50

Tenor Call

REPO

Rate (%) 20.00

Foreign Exchange (Spot & Forwards) Tenor

Bid ($/N)

Offer ($/N)

Spot 7D 14D 1M 2M

197.13 199.64 201.63 202.90 205.28

197.23 199.96 202.01 203.25 205.75

NA

7.00 23-OCT-2019 ^15.54 13-FEB-2020 ^16.39 27-JAN-2022 ^14.20 14-MAR-2024 15.00 28-NOV-2028 12.49 22-MAY-2029 8.50 20-NOV-2029 ^10.00 23-JUL-2030 ^12.1493 18-JUL-2034

NA

23-Oct-09 13-Feb-15 27-Jan-12 14-Mar-14 28-Nov-08 22-May-09 20-Nov-09 23-Jul-10 18-Jul-14

7.00 15.54 16.39 14.20 15.00 12.49 8.50 10.00 12.1493

233.90 311.93 605.31 599.99 75.00 150.00 200.00 591.57 370.50

23-Oct-19 13-Feb-20 27-Jan-22 14-Mar-24 28-Nov-28 22-May-29 20-Nov-29 23-Jul-30 18-Jul-34

TOTAL OUTSTANDING VALUE

4,971.02

TOTAL MARKET CAPITALISATION

4,477.74

NEW TELEGRAPH WEDNESDAY, AUGUST 19, 2015 Rating/Agency

Description

Issuer

Agency Bonds

Sub-National Bonds

A/Agusto

KADUNA

A-/Agusto

*EBONYI

BBB+/Agusto

*BENUE

A/Agusto by Chris Ugwu *IMO Stories

***LCRM

03-Apr-12 09-Dec-11 20-Apr-12 06-Jul-12

03-Apr-17 08-Dec-16 19-Apr-17 06-Jul-17

0.88 1.31 1.67 1.88

2.94 1.00 2.66 3.13

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

2.60

30-Jun-16

0.62

4.46

19.19

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

3.96

30-Jun-16

0.63

3.48

18.23

98.40

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

1.67

1.00

16.69

90.54

13.75

21.24

14.00

25.00

30-Jun-10 30-Dec-10

#{r}

#

#

UBA

FIRST BANK LTD

ECOBANK NIG. LTD

18-Oct-13

15.75

2.10

MPR+5.00 CHELLARAMS II 17-FEB-2019

17-Feb-12

18.00

0.32

Access Bank raises N42bn via right issue

8.00/2Y USD SWAP+6.488 JUL 23 2021

01-Apr-14

16.00

14-Nov-13

15.25

2.05

20-Nov-14

14.25

26.00

30-Dec-14

16.45

30.50

30-Sep-14

16.29

0.10

30-Sep-14

13.25

15.44

450.00

8.75

250.00

FMDQ Daily Quotations List

TOTAL MARKET CAPITALISATION

16.70

97.01

1.79

17.42

93.54

1.75

1.00

16.69

96.17

23-Jul-21

11.20

11.20

85.75

85.75

14-Aug-21

11.73

10.96

86.79

89.80

S

164.05

8.00

1.00

2.37

1.76 1.00 16.68 96.12 outh African grocer The chief executive, 1.00 16.67 Shoprite1.95 Holdings, Whitey Basson96.57 said, the 12-Dec-18 1.95 4.78 20.45 90.36 14-Feb-19 1.00 16.65 will open 98.06 nearAfrica’s2.14 biggest company 02-Oct-19 2.02 17.65 96.09 retailer, met 2.37 its profit ly twice as many stores 22-Nov-19 4.26 1.00 16.58 93.76 12-Dec-19 2.43 1.00 16.62 96.47 contiestimates with a 10.8 on the rest of the 10-Oct-20 2.97 1.82 17.39 94.26 per cent rise in full-year nent this year as in 2014.

27-Nov-20 5.28 1.00 16.54 89.52 31-Dec-20 5.37 1.00 16.52 super 94.65 earnings yesterday, as The market 3.21 1.00 16.55 95.23 it31-Dec-20 stole market share in operator is banking on 06-Jan-21 3.24 1.00 16.54 96.36 its food business from rapid growth in markets rivals. such as Nigeria and AnAccording to Reuters gola where it aims to change shopping News, 09-Dec-15 Shoprite 0.31 said di1.00 16.58 the 98.62 06-Jan-16 0.39 2.63 17.75 98.55 luted headline earnings habits of Africa’s rising 29-Sep-16 1.12 1.00 16.70 96.33 middle class. 97.04 per share totaled 772.9 25-Oct-16 1.19 1.34 17.04 30-Sep-17in the year 2.12 1.00 16.65 93.65anothIt plans to add cents ended 30-Nov-17 1.35 1.88 101.17 er 35 17.58 stores this year to June, in line with the 773 09-Apr-18 1.39 1.00 16.71 99.14 the 189 it has in the rest cents estimate1.56

by Thom09-Sep-18 1.00 16.70 101.61 09-Sep-18 1.00 16.70 99.08 of Africa, hoping to imson Reuters 1.56 StarMine 30-Sep-18 3.12 3.00 18.56 89.51 prove17.98 on the 1696.94 per cent SmartEstimates.

18-Oct-18 1.67 2.29 17-Feb-19 2.00 6.11 21.77 94.38Africa Headline EPS is the contribution that 01-Apr-19 2.37 2.16 17.79 96.67 most widely watched ex-South Africa makes 14-Nov-20 5.24 2.76 18.30 89.91 20-Nov-21 gauge 6.26 1.00 16.42 91.65year, it profit in South to its profits.

Last 30-Dec-21 1.58 16.98 97.90 Africa, which6.37 strips out opened 20 stores outside 30-Sep-24 9.12 1.00 16.34 99.72 certain one-off items.

South Africa.

30-Sep-24 9.12 1.00 16.34 85.56 Its shares rose 1.54 “It usually takes three per cent to 160.49 rand to five years for counyesterday. tries to change from 11-Feb-18 2.49Africa’s 1.00 14.73 90.86 pavement shopping to Retailers in 01-Feb-21 3.70 1.00 86.12 using16.52supermarkets,” most advanced economy have suffered from an Basson said at a presenelectricity shortage that tation of the company’s results. has many Maturityforced Date Bid Yield (%)stores Offer Yield (%) Bid Price Offer Price to fork out for back-up Nigeria will get 14 Prices & Yields generators. They in new stores in the next 20 28-Jan-21 7.10 6.87 98.45 99.45 turn are struggling to months and Shoprite is 12-Jul-18 5.82 5.45 98.16 a distribution 99.13 pass those costs along building to12-Jul-23 highly indebted concentre there, aiming to 7.37 7.19 94.12 95.17 sumers. move goods faster as imShoprite said it had ports into Nigeria can be managed to increase delayed in ports for up sales by 11.2 per cent to to three months or so,” 19-May-16 4.55 4.55 102.13 113.7 billion rand ($8.80 Basson said. 102.13 25-Jul-17 8.25 8.25 98.24 98.24 billion) thanks to 170 Angola, is the only 02-May-18 15.19 13.46 82.00 85.38 new stores and taking other market 08-Nov-18 8.48 7.93 93.12 94.61 large 22-Apr-19 8.49 8.49 93.03 93.03 market share in food enough to justify a dis21-May-19 11.41 10.80 92.03 93.78 sales from its competitribution centre in the 07-Aug-20 9.74 9.74 93.70 93.70 24-Jun-21 11.81 11.44 next five 89.53 years,90.99 tors. he said.

175.32

23-Jul-14

1.16

30-Sep-18 04-Oct-18

4.50

14-Aug-14

30-Jun-17

31-Dec-17

09-Dec-18

11-Feb-13 will make 10.20 ogy, which speed, 12.00 10-Jul-14 11.25 service and security a guar- 12.95 antee for all our custom- 24.95 22.06 ers, as well as providing the Outstanding Value firepower to diversify our Issue Date Coupon (%) ($mm) geographic focus and target Africa’s fastest-growing in07-Oct-11 6.75 500.00 dustrial sectors,” he said.

12-Jul-13Bank in 5.13 Access collabora- 500.00 tion with GMT, an integrated 12-Jul-13 6.38 500.00 logistics service provider in1,500.00 Sub-Sahara had recently de-1,453.63 veloped a new business solution for importers of non19-May-11 500.00 perishable goods. 7.50 25-Jul-12 7.25 350.00 Speaking at the launch cer09-May-13 6.88 300.00 emony, Wigwe said the 08-Nov-13 6.00 bank in 400.00 22-Apr-14 6.25 partnership with GMT, came 500.00 21-May-14 8.75 200.00 together to birth the8.25 new prod- 300.00 07-Aug-13 9.25 400.00 uct. 24-Jun-14

8.75 AUG 14, 2021

TOTAL OUTSTANDING VALUE

Shoprite hits profit estimates

at 7614.00 kobo per 30.81 share.

14.00 Honeywell Flour9.00 Mills 14.50 12.40 Plc dropped by five per 14.00 9.21 cent 15.50 to close at24.44 N1.90 15.50 15.09 per share.

14.50 80.00 On14.75 the activity24.74 chart, 14.75 10.46 the banking sub-sector 13.50 87.50 15.00 5.00 dominated in volume 14.50 4.30 terms with 158.8 mil15.00 4.31 lion shares worth N1.09 437.71 billion in 1,946409.71 deals.

The sub sector was enhanced 12.00by the activities 9.38 14.00 0.22 in the shares of 15.00 Zenith 13.00 Bank14.25 Plc and UBA 5.53 Plc. 13.00 20.00 serOther financial 0.56 vices18.00 sector boosted 16.00 5.40 by the activities 2.54 on the 18.00 16.00 0.70 shares of FBNH Plc fol14.00 35.00

15.75 LA CASERA 18-OCT-2018

16.00 DANA II 1-APR-2019 *DANA ccess Bank NAHCO Plc has 15.25 NAHCO II 14-NOV-2020 14.25 FCMB I 20-NOV-2021 raised N41.8 billion at FCMB 16.45 UBA I 30-DEC-2021 A/GCR UBA N6.90 per share through 182D T.bills+1.20 STANBIC IA 30-SEP-2024 A/GCR STANBIC IBTC a rights issue meant for ex13.25 STANBIC IB 30-SEP-2024 A/GCR STANBIC IBTC TOTAL OUTSTANDING VALUE pansion of branches as well as TOTAL MARKET CAPITALISATION lending.

This following Supranational Bond the approval 10.20 IFC 11-FEB-2018 of AAA/S&P the Central Bank ofIFCNigeria strongest capital buffers as 11.25 AFDB 1-FEB-2021 Aaa/Moody's; AAA/S&P AfDB (CBN) and the Securities and well as providing the means TOTAL OUTSTANDING VALUE Exchange Commission (SEC). for further investment to exTOTAL MARKET CAPITALISATION The capital raise, which ploit target markets. opened Rating/Agency on January 26, 2015, of“We are putting in place Description Issuer fered a rights Issue of one (1) the building blocks for our FGN Eurobonds ordinary share for every exist- future as we work to becom6.75 JAN 28, 2021 BB-/Fitch; B+/S&P ing three (3) units at a price of ing atop three banking in BB-/Fitch; FGN 5.13 JUL 12, 2018 N6.90 per share.

Nigeria by 2017.

The capital BB-/S&P BB-/Fitch; The bank’s Group Managing raised will allow us to retain 6.38 JUL 12, 2023 BB-/S&P Director Mr. Herbert Wigwe, our place amongst Nigeria’s TOTAL OUTSTANDING VALUE said the funds raised accounts best-capitalised banks and TOTAL MARKET CAPITALISATION for 80 per cent of the total num- underscores our continued berCorporate of newEurobonds ordinary shares of- commitment to prudent risk 19, 2016 B+/Fitch; B+/S&P fered to shareholders.GTBANK PLC I management 7.50 asMAY we seek 7.25 JUL 25, 2017 B+/S&P ACCESS BANK PLC growth opportunities both Wigwe noted that the capi6.88 MAY 09, 2018 B/Fitch; B/S&P FIDELITY BANK PLC NOV 08, 2018 talB+/Fitch; raiseB+/S&P puts investors firmly in Nigeria and6.00 abroad.

GTBANK PLC 6.25 APR 22, 2019 BB-/S&P ZENITH BANK PLC at B+/Fitch; the centre of the bank’s “This additional capital 8.75 May 21, 2019 B/Fitch; B/S&P DIAMOND BANK PLC strategy, ensuring sustainable will allow us to invest in our 8.25 AUG 07, 2020 B-/Fitch; B/S&P FIRST BANK PLC 9.25/6M USD LIBOR+7.677 JUN 24, 2021 B-/Fitch; B/S&Pthrough one ACCESS dividends of BANK thePLC II infrastructure and technolB-/S&P

97.07

8.50

14.00 EDO 31-DEC-2017

B-/Fitch; B/S&P

99.15 99.13

2.16

13.75 BAYELSA 30-JUN-2017

BBB/GCR

18.32 16.70

39

18.35 102.81 lion in 659 deals.

18.80 98.34 In all, investors exchanged a total of 307.9 million shares, worth N3.6 20.00 billion in 4,365 99.73 deals.18.93 99.27

12.50

EDO

A+/Agusto; A-/GCR

Modelled Price

13.00

*BAYELSA

#{r}

lowed with 32.3 million4.44 31-Aug-15 0.04 units, mil-3.23 30-Sep-15worth N146.9 0.12

Valuation Yield (%)

30-Sep-10

he equities’ martrend, as sell pressure of the day’s trading 30-Sep-11 14.00 DELTA 30-SEP-2018 *DELTA 04-Oct-11 14.00 NIGER II 4-OCT-2018 showed that Dangote A-/Agusto;ket A-/GCRlosses that NIGER dominated the market.

09-Dec-11 ‡ /Agusto; A-/GCR† *EKITI 14.50 EKITI 09-DEC-2018 had stretched At the close of trad- Cement Plc topped the 12-Dec-13 A-/Agusto *NIGER 14.00 NIGER III 12-DEC-2018 A-/Agusto;for A-/GCR *ONDO 15.50 12 ONDO 14-FEB-2019 day’s several days, ing yesterday, stocks gainers’ 14-Feb-12 table 02-Oct-12 BBB+/Agusto; A-/GCR *GOMBE 15.50 GOMBE 02-OCT-2019 to recovered with a gainLAGOS of appreciated, while 33 with 4.97 per cent Aa-/Agusto; ‡ /GCR 14.50 LAGOS 22-NOV-2019 22-Nov-12 BBB-/Agusto; BBB+/GCR *OSUN 14.75 OSUN 12-DEC-2019 per others constituted the close at N180.0012-Dec-12 N70billion yesterday, fol10-Oct-13 BBB-/Agusto *OSUN 14.75 OSUN II 10-OCT-2020 lowing gains recorded losers’ table. share, while GNI Plc fol27-Nov-13 Aa-/Agusto; ‡ /GCR LAGOS 13.50 LAGOS 27-NOV-2020 31-Dec-13 byA-/Agusto; some BBB+/DataPro blue chip comThe twin15.00 market in- lowed with 4.00 per cent KOGI KOGI 31-DEC-2020 31-Dec-13 ‡ /Agusto *EKITI 14.50 EKITI II 31-DEC-2020 panies. dicators, the All-Share to close at 52 kobo per 06-Jan-14 A-/GCR *NASARAWA 15.00 NASARAWA 06-JAN-2021 The twin market perIndex rose by 203.18 share.

FCMB Plc gained TOTAL OUTSTANDING VALUE formance measures, the basis points or 0.68 per 3.98 per cent to close at TOTAL MARKET CAPITALISATION NSE ASI and market cent from 29,909.44 to N2.35 per share.

Corporate Bonds capitalisation, firmed close at 30,112.62, while PZ 12.00 FLOURMILLS 9-DEC-2015 On the flip side, BBB-/Agusto 09-Dec-10 *FLOURMILLS 14.00 CHELLARAMS 06-JAN-2016 BB/GCR 06-Jan-11 *CHELLARAMS upA+/Agusto; by 0.68 per cent, as the market capitalisaCussons Plc led the los13.00 NAHCO 29-SEP-2016 A-/GCR 29-Sep-11 NAHCO bargain hunters take tion appreciated by N70 ers’ chart with a drop of 14.25 FSDH 25-OCT-2016 A-/Agusto 25-Oct-13 FSDH 13.00 UBA 30-SEP-2017 A/GCR 30-Sep-10 UBA position. billion from N10.251 9.74 per cent to close at 18.00 C&I LEASING 30-NOV-2017 BBB-/GCR *C & I LEASING while The market had the trillion to N10.321 tril- N29.83 per share, 30-Nov-12 MPR+7.00 DANA 9-APR-2018 09-Apr-11 Nil *DANA MPR+7.00 TOWER 9-SEP-2018 previous closed furEterna Oil Plc 09-Sep-11 shed A-/DataPro†; day B+/GCR *TOWER lion.

MPR+5.25 TOWER 9-SEP-2018 09-Sep-11 AAA/DataPro†; A/GCR *TOWER 9.52 per cent to close ther on the downward Further analysis 14.00 UBA II 30-SEP-2018 A+/Agusto; A/GCR 30-Sep-11

A

2.10 112.22 116.70 66.49

# Risk Premium (%)

31-Aug-10

‡ /Agusto; A+/GCR

Nil

Avg. Life/TTM (Yrs)

13.00 EBONYI 30-SEP-2015

A-/Agusto

*LA CASERA *CHELLARAMS#

74.67 100.08 104.02 94.71 96.65 82.40 59.59 68.30 79.79

12.50 KADUNA 31-AUG-2015

‡ /Agusto

BBB+/Agusto; BBB+/GCR

Maturity Date

298.70

LAGOS

BBB-/DataPro†; BB/GCR

74.37 99.78 103.72 94.41 96.35 82.10 59.29 68.00 79.49

Business | Financial Market News

Outstanding Value (N'bn)

17.25 0.00/16.00 0.00/16.50 0.00/16.50

15.44 15.51 15.38 15.32 15.59 15.63 15.65 15.50 15.47

297.52

A+/Agusto; ‡ /GCR

T

Coupon (%)

15.56 15.61 15.45 15.39 15.65 15.69 15.73 15.57 15.53

Stock market rebounds on renewed confidence 17.25 FMB II 03-APR-2017 0.00/16.00 LCRM 08-DEC-2016 0.00/16.50 LCRM II 19-APR-2017 0.00/16.50 LCRM III 06-JUL-2017

FMBN

BULLISH TOTAL OUTSTANDING Investors gains VALUE TOTAL MARKET CAPITALISATION N70bn

Issue Date

4.18 4.49 6.44 8.57 13.28 13.76 14.26 14.93 18.92

3,650.00

18-Aug-15

3,364.21

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 **Treasury Bills^ Money Market professional, financial or investment advice. We attempt to ensure the Information is accurate; however, the Information is provided “AS FIXINGS IS” and on an “AS AVAILABLE” basis and may not be accurate or up Exchange to date. We do&not guarantee Foreign (Spot Forwards) Bid Discount (%) Offer Discount Bid Yieldneither (%) Tenor (%) of the Information. the accuracy,DTM timeliness, completeness,Maturity performance or fitness for a particular purpose of any of(%)the Information, do we accept liability for the results of any action taken on theRate basis NIBOR 9 16 23 FGN Bonds 37 44 58 Rating/Agency 65 72 79 86 100 107 114 121 128 142 149 NA 156 163 170 177 184 191 198 212 219 226 TOTAL OUTSTANDING VALUE 233 240 TOTAL MARKET CAPITALISATION

27-Aug-15 3-Sep-15 10-Sep-15 24-Sep-15 1-Oct-15 15-Oct-15 Issuer 22-Oct-15 29-Oct-15 5-Nov-15 12-Nov-15 26-Nov-15 3-Dec-15 10-Dec-15 17-Dec-15 24-Dec-15 7-Jan-16 14-Jan-16 NA 21-Jan-16 28-Jan-16 4-Feb-16 11-Feb-16 18-Feb-16 25-Feb-16 3-Mar-16 17-Mar-16 24-Mar-16 31-Mar-16 7-Apr-16 14-Apr-16

15.62 14.97 14.94 15.47 15.48 15.55 Description 14.90 15.52 14.50 ^13.05 16-AUG-2016 15.15 ^15.10 27-APR-2017 14.93 9.85 27-JUL-2017 14.44 9.35 31-AUG-2017 14.53 10.70 30-MAY-2018 14.54 14.28 ^16.00 29-JUN-2019 14.92 7.00 23-OCT-2019 15.01 ^15.54 13-FEB-2020 14.70 ^16.39 27-JAN-2022 15.10 ^14.20 14-MAR-2024 14.91 15.00 28-NOV-2028 14.87 13.46 12.49 22-MAY-2029 14.72 8.50 20-NOV-2029 14.81 ^10.00 23-JUL-2030 14.20 ^12.1493 18-JUL-2034 14.18 14.20 14.46 14.77

15.37 14.72 14.69 15.22 15.23 15.30 Issue 14.65Date 15.27 14.25 16-Aug-13 14.90 27-Apr-12 14.68 27-Jul-07 14.19 31-Aug-07 14.28 30-May-08 14.29 14.03 29-Jun-12 14.67 23-Oct-09 14.76 13-Feb-15 14.45 27-Jan-12 14.85 14-Mar-14 14.66 28-Nov-08 14.62 13.21 22-May-09 14.47 20-Nov-09 14.56 23-Jul-10 13.95 18-Jul-14 13.93 13.95 14.21 14.52

15.68 15.07 15.08 15.71 15.77 15.95 Coupon 15.31 (%) 16.01 14.97 13.05 15.71 15.10 15.56 9.85 15.08 9.35 15.22 10.70 15.28 15.04 16.00 15.84 7.00 15.98 15.54 15.68 16.39 16.19 14.20 16.03 15.00 16.02 14.44 12.49 15.95 8.50 16.10 10.00 15.47 12.1493 15.50 15.56 15.93 16.36

Bonds

247

21-Apr-16

14.52

14.27

16.11

254

28-Apr-16

14.55

14.30

16.19

261 Rating/Agency

5-May-16 Issuer

282

14.38

Description

14.13

26-May-16

14.70

2-Jun-16

14.24

13.99

14-Jul-16

14.22

13.97

289

Agency Bonds 331

17.25 FMB14.14 II 03-APR-2017 352 4-Aug-16 FMBN *for the Amortising bonds, the average life is calculated and not the0.00/16.00 duration LCRM 08-DEC-2016

16.02Date Issue

14.45

16.58

Tenor O/N 1M 3M 6M Outstanding

(N'bn)

Value

16.32

16.38 03-Apr-12 09-Dec-11 20-Apr-12 06-Jul-12

13.89

0.00/16.50 LCRM II 19-APR-2017 Risk Premium is a combination of credit risk ***LCRM and liquidity risk premiums **Exclusive of non-trading t.bills 0.00/16.50 LCRM III 06-JUL-2017

BBB+/Agusto

*BENUE

A/Agusto

*IMO

1M 3M 0.99 6M

Rate (%)

Bid Yield (%) 20.00 21.00 22.00 15.70 23.00

Spot 7D 14D 1M Offer Yield 2M (%) 3M 6M 15.53 1Y

1.69 15.67 15.56 1.94 15.67 15.57 2.04 15.66 15.56 2.78 15.59 15.51 :Benchmarks * :Amortising 3.86Bond 15.50 15.40 µ :Convertible 4.18Bond 15.56 15.44 AMCON: Asset Management Corporation of Nigeria 4.49 15.61 15.51 FGN: Federal Government of Nigeria 6.44 15.45 15.38 FMBN: Federal Mortgage Bank of Nigeria 8.57 Finance Corporation 15.39 15.32 IFC: International 13.28 15.65 Management 15.59 LCRM: Local Contractors Receivables NAHCO: Nigerian 13.76 Aviation Handling 15.69 Company 15.63 O/N: Overnight 14.26 15.73 15.65 UPDC: UAC Property Development Company 14.93 15.57 15.50 WAPCO:West Africa Portland Cement Company 18.92 15.53 15.47

NOTE:

Bid ($/N)

Offer ($/N)

197.13 197.23 199.64 Price 199.96 201.63 202.01 202.90 203.25 Bid Price Offer 205.28 205.75Price 209.35 209.98 218.83 219.90 97.64 97.79 236.65 238.99

99.12 99.27 90.56 90.71 89.34 89.49 89.24 89.39 NA :Not Applicable ^ : Market Prices 101.35 101.65 # : Floating Rate Bond 74.37 74.67 ***: Deferred coupon bonds 99.78 100.08 103.72 104.02 ‡ : Bond rating under review 94.41 expired 94.71 †: Bond rating 96.65 N/A :Not 96.35 Available {r} :Issuer in receivership 82.40 82.10 59.29 59.59 NGC: Nigeria-German Company 68.00 68.30 UBA: United Bank for Africa 79.49 79.79

4,477.74 #

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

Risk Premium (%)

Valuation Yield (%)

Modelled Price

17.25 0.00/16.00 0.00/16.50 0.00/16.50

2.10 112.22 116.70 66.49

03-Apr-17 08-Dec-16 19-Apr-17 06-Jul-17

0.88 1.31 1.67 1.88

2.94 1.00 2.66 3.13

18.32 16.70 18.35 18.80

99.15 99.13 102.81 98.34

20.00

99.73 YTD Return (%) 99.27

298.70 FMDQ FGN BOND INDEX

Sub-National Bonds KADUNA

REPO

TTM Call (Yrs)

Tenor

297.52

TOTAL MARKET CAPITALISATION

*EBONYI

20.50

4,971.02

TOTAL OUTSTANDING VALUE

A-/Agusto

20.00

O/N Tenor

Maturity Date

581.39 NITTY 16-Aug-16 480.13 27-Apr-17 Tenor Rate (%) 20.00 27-Jul-17 1M 15.5979 100.00 31-Aug-17 2M 15.6356 300.00 30-May-18 3M 15.8141 6M 15.8797 351.30 29-Jun-19 9M 16.0822 233.90 23-Oct-19 12M 17.0752 311.93 13-Feb-20 605.31 27-Jan-22 599.99 14-Mar-24 NIFEX 75.00 28-Nov-28 Current Price ($/N) 150.00 22-May-29 BID($/N) 200.00 199.0000 20-Nov-29 OFFER ($/N) 199.1000 591.57 23-Jul-30 370.50 18-Jul-34

OBB

16.04

#

A/Agusto

Rate (%) 25.9167 17.9912 19.9617 21.0741

Modified Duration Buckets

<3 3<5

12.50 KADUNA 31-AUG-2015 Total Outstanding Volume(Bn) 13.00 EBONYI 30-SEP-2015

Porfolio Market Value(Bn)

14.00 BENUE 30-JUN-2016 831.95 15.50 IMO 30-JUN-2016 1,455.42 10.00 LAGOS 19-APR-2017 672.94 13.75 BAYELSA 30-JUN-2017 2,960.31 14.00 EDO 31-DEC-2017

831.43 1,467.03

31-Aug-10 Weighting by Outstanding Vol 30-Sep-10

12.50 Weighting

by Mkt Value 13.00 14.00

8.50

Bucket Weighting

2.16

30-Jun-11 25.74 30-Jun-09 45.41 19-Apr-10 28.85 30-Jun-10 100.00 30-Dec-10

10.00 22.73 13.75 100.00 14.00

21.24

15.50

28.10 49.16

2.60 3.96 57.00

0.26 0.45

31-Aug-15 % Exposure_ Mod_Duration 30-Sep-15 30-Jun-16 12.40 30-Jun-16 44.27 19-Apr-17 43.34 30-Jun-17 100.00 31-Dec-17

0.04

Implied Yield

0.12

0.62 15.57 0.63 15.45 1.67 15.56 1.16 15.51 2.37

4.44 Implied Portfolio Price 3.23 4.46 128.8585 3.48 124.5705 1.00 91.5355 1.00 116.1429 1.79

INDEX

18.93

19.19 1,172.31 18.23 1,079.95 16.69 1,103.55 16.70 1,105.98 17.42

97.07 5.8189 98.40 6.6543 90.54 9.5866 97.01 4.8143 93.54

A+/Agusto; ‡ /GCR

LAGOS

‡ /Agusto

*BAYELSA

A-/Agusto

EDO

‡ /Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

30.81

30-Sep-18

1.75

1.00

16.69

96.17

A-/Agusto; A-/GCR

NIGER

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

9.00

04-Oct-18

1.76

1.00

16.68

96.12

‡ /Agusto; A-/GCR†

*EKITI

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

12.40

09-Dec-18

1.95

1.00

16.67

96.57

A-/Agusto

*NIGER

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

9.21

12-Dec-18

1.95

4.78

20.45

90.36

A-/Agusto; A-/GCR

*ONDO

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

24.44

14-Feb-19

2.14

1.00

16.65

98.06

BBB+/Agusto; A-/GCR Aa-/Agusto; ‡ /GCR

*GOMBE LAGOS

15.50 GOMBE 02-OCT-2019 14.50 LAGOS 22-NOV-2019

BBB-/Agusto; BBB+/GCR

*OSUN

14.75 OSUN 12-DEC-2019

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

15.50 14.50 14.75

15.09 80.00 24.74

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

2.37 4.26 2.43

2.02 1.00 1.00

17.65 16.58 16.62

96.09 93.76 96.47

BBB-/Agusto

*OSUN

14.75 OSUN II 10-OCT-2020

10-Oct-13

14.75

10.46

10-Oct-20

2.97

1.82

17.39

94.26

>5 Market

932.07 3,230.54

25.00

0.29 1.00

40 News

wednesday, august 19, 2015 NEW TELEGRAPH

south south-west - south

Oyo tribunal dismisses Ladoja's request for forensic analysis Sola Adeyemo Ibadan

T

he Oyo State election petition tribunal, sitting in Ibadan, yesterday dismissed the prayer of the Accord Party gov-

ernorship candidate, Senator Rasidi Ladoja against Governor Abiola Ajimobi, seeking a leave to call a forensic analyst in the case.

The Chairman of tribunal, Justice Muhammed Aliyu Mayaki, in about an hour ruling,

dismissed the application on the ground that the application was not brought during the pre-hearing session and no exparte order was sought.

The forensic analyst was the leader of the team that inspected and counted ballot papers and boxes

used for the April 11, 2015 election in the state.

Though the petitioner made oral request, Justice Mayaki said such contradicted the provision of paragraph 47, subsection 1 of the First Schedule of the Electoral Act, 2010.

He described the applica-

tion as an abuse of the court process.

According to the tribunal, the report of the forensic analyst should have been tendered with that of the first witness, Mr Bimbo Adepoju, instead of bringing them piece meal.

L-R: Wife of the founder of Hand of God Ministry, Mrs. Duro Afolabi; author of the book, Miss Ifeoluwa Adeniyi; Chief Bamidele Aiku; Chairman, Splash FM's Chief Adebayo Akande and his wife, Onikepo, at the launch of a book: On the Bank of the River in Ibadan…yesterday.

OPIC to construct 1,000 housing units annually Kunle Olayeni Abeokuta

T

he Ogun State Property and Investment Corporation (OPIC) yesterday expressed its readiness to develop and deliver at least 1,000 housing units annually in the state as part of efforts to bridge housing deficit in the country.

Managing Director of OPIC, Babajide Odusolu, revealed this at a press conference on "The OPIC Advantage Home Purchase Plan" held in Abeokuta, the state capital.

Odusolu noted that the scheme, which is being proposed in Agbara, Alamala in Abeokuta and New Makun in Sagamu, is free for anybody in paid employment to take advantage.

He added that the cost of the housing units ranges between N7.5million and N15million, with payment plan spread over three years.

According to him, the cost of providing housing is expensive and the corporation decided to introduce flexible, easier and affordable plan to address the problem.

Lagos development still on course, says Ambode Muritala Ayinla

L

agos State Governor, Akinwunmi Ambode yesterday said that he has no plan to jettison development plan he inherited from his predecessors, saying that he remained committed to things that will bring tremendous benefits to the people of the state.

He said the Development Plan is geared towards achieving the vision of the government in all sectors on the longterm.

Speaking when he received a delegation of

the UK Department for International Development (DFID), led by the Country Representative, Mr. Ben Mellor, on a courtesy visit, Ambode, said his administration was setting up a framework which the Permanent Secretaries were already working on.

The governor who restated his administration’s commitment to implementing the Lagos Development Plan, said his administration has fashioned out a framework to commence the implementation.

Reaffirming his belief

in the basic principles of good governance, which according to him, thrives on accountability and all inclusive governance, the governor restated his commitment to run a transparent and all inclusive government that would not only be accountable, but also be people-driven.

On plan to implement the development plan, Ambode, said he has concluded plans to embark on a tour of the 57 local governments in the state, saying it would afford him the opportunity to listen to the challenges of the people first hand and

Aregbesola endorses coronation of monarch-designate Adeolu Adeyemo Osogbo

G

overnor Rauf Aregbesola of Osun State has approved the nomination of Prince Jimoh Isiaka Adesina for the stool of Alase of Ilase- Ijesa, in the Obokun local government of Osun State.

The stool had remained vacant for two years, following unknown gunmen invasion and burning of the king’s palace. The installation of the new monarch is expected to take place on Friday.

It was gathered that the arsonists who razed the palace are still at large.

The palace which has been deserted since the incident is now receiving attention as traditional rites towards enthroning the new monarch has begun by kingmakers in the town.

A prominent community leader in the town, Chief Jumoke Ogunkeyede, told newsmen yesterday that, high chief, Saro of the town whose stool has been vacant has been filled.

According to him, the new Saro of Ilase-Ijesa

high chief Olabosipo Keyede, was installed recently by the Owa Obokun of Ijesaland, PBA Gabriel Adekunle Aromolaran.

The new Alase of IlaseIjesa, Prince Jimoh Isiaka Adesina Ajarabiolu, is a Civil Engineer.

Speaking further on the importance of the instalation of the Saro, Chief Ogunkeyede, noted that without the Saro in the town, no king could be installed because he is traditionally saddled with the responsibility of carrying the newly installed monarch on his lap.

address them accordingly.

He commended the partnership of the State Government and the DFID over the years, saying it has not only being a success, but has impacted on the people in no small way.

Osun begin workers’ verification Adeolu Adeyemo Osogbo

O

sun State Government has begun a fresh workers’ verification exercise it tagged "operation show your original certificates" for all civil servants in the state.

The commencement of the exercise which has created a lot of problems in the teaching circle of the state, is said to have seen many teachers in the employment of the state government, travelling to their various former schools to obtain their original credentials for the exercise.

It was gathered that that the committee saddled to carry out the exercise, had been given a standing order to ignore any teacher without his or her original certificates in the course of the screening.

To this end, hundreds employees in the civil service were now visiting their former respective institutions to collect their age-long certificates.

It was learnt that, some of them who graduated at distance places like Kaduna, Kano, Abuja, Akwa Ibom States and who do not have money to claim the certificates, have contacted their close associates for bail-out.

Many teachers especially, those in the secondary schools of the state could not be seen in their respective schools when our reporter visited some schools as most of them were discovered to have embarked on the journeys to fetch the original copies of their certificates.

My dad's hale and hearty, says Baba Sala's son Sola Adeyemo Ibadan

T

he apprehension over the state of health of the ace Yoruba comedian, Moses Adejumo, (a.k.a. Baba Sala), who is presently hospitalised at the University College Hospital (UCH), Ibadan, was doused yesterday as his son, Emmanuel Adejumo, revealed that the octogenarian was still alive.

Emmanuel confirmed that his father was taken to the hospital after the initial treatment in an Ilesa hospital failed to cure an undisclosed ailment he developed on Saturday.

The 80-year-old comedian who recently celebrated his birthday in Ilesa, was said to be

responding to treatment and that his condition was stable.

To underscore the fact that his father had recovered from the illness, Emmanuel, whose stage name is 'Boi Sala', said his father requested for pounded yam yesterday afternoon after he was resuscitated by doctors on duty. Though he did not reveal the cause of the illness, the son however disclosed that the old man needed oxygen when he was first taken to the hospital in Ilesa on Saturday.

He confirmed the apprehension in some quarters about his father's health when he said, "People called me to know if Baba Sala had died. I have told them that my father is alive and okay".

NEW TELEGRAPH WEDNESDAY, AUGUST 19, 2015

Group urges FG to declare Anambra communities disaster areas Okegwokenechukwu Onitsha

A

non-governmental organisation, Campaign for Democracy (CD), has urged the Federal and Anambra State Governments to declare the state a distaer prone area, as it also urged that victims of flood victims in 15 communities of the state be assisted to mitigate their sufferings.

The group made the call after visiting some of the areas affected by the flood disaster in various parts of the state. Flood menace had ravaged over 15 communities in part of Idemili North, Ogbaru, Anambra East and West as well as Ayamelum most of each are living in the riverine areas in the State.

The call came after the last three weeks torrential rainfall which flooded Obosi, Awada and Nkpor communities as well as others in other Local Government Areas which led to the death of four persons, while Hundreds of families were rendered homeless.

News 41

SOUTH-EAST

Erosion threatens Anambra community

Okegwo Okechukwu Onitsha

T

he people of Oraifite Community in Ekwusigo Local Government Area of Anambra State, have appealed to the Federal and Anambra State Government to rescue them from the devastating effect of erosion threatening the entire community.

The Chairman of Oraifite Improvement Union Lagos branch, Mr. Chinonso Egbuonu along the monarch, Ichie Godwin Ugochukwu (Ezeaputa Oraifite), while addressing journalists at this year’s Afia-olu National Festival held at Oraifite Civic Centre said that not less than two-third of the entire community wre now being threatened by the encroaching and ravaging erosion.

Ichie Ugochukwu said “we have continued to repeat our appeal to the Federal and State Governments to come to our rescue.

These gully erosion are 51 in number as documented by the community and if nothing is urgently done in the nearest possible time not less than one million

people would be sacked from their ancestral homes in this community” I must thank our illustrious son Sir Emeka Offor, who has single handedly tackled so many problems in this community, he is a blessing to our people and our generation.

The Managing Director Chief Executives Allied

Chemical Industries Nig. Ltd based in Onitsha Hon Sylvester Okafor (SIWO) said the community had on their own done a lot of collective and individual effort to control the erosion, but to no avail.

He said that the most active is the one at Olioba gully erosion in Ibollo Village, which is threatening to

severe the Onitsha-Owerri Road and very close to the PHCN transmission tower.

Okafor said that the erosion was over 100m wide, 80m deep and has transversal over one kilometer distance in less than six years devastating their farm lands, economic trees and cash crops.

He used the opportunity

to call on the Anambra State Government to come to the aid of the community. “We will also like to use this opportunity to appreciate our amiable Governor Chief Willie Obiano (Akpokuo Dike Aguleri) for the gigantic strides he took immediately on assumption of office to stamp out criminals in the State.

Enugu State Governor, Ifeanyi Ugwuanyi (centre), flanked by the state Attorney-General and Commissioner for Justice, Mr. Mellitus Eze, as he watches the National Programme Manager, Justice for All, DfID, Dr. Bob Arnot, hand over keys to the Enugu State Magistrates Court complex, refurbished by the DfID to the state Chief Judge, Mr. Innocent Umezulike…yesterday

Photo: Govt. House, Enugu

Opposition parties pledge support for Umahi Unions disown members’ attack on management Uchenna Inya ABAKALIKI

O

pposition parties in Ebonyi State under the aegis of InterAdvisory Party Committee (IPAC), yesterday called on Governor Dave Umahi to carry them along in the scheme of things, pledging the support for the government.

Leaders of the political parties, who made the call during a courtesy visit on the Special Adviser to the Governor on Inter-Party Dialogue, Onwe Gideon Ifeanyi, at the Government House Abakaliki, pledged their loyalty to Governor Umahi’s administration.

Addressing the Special

Charles Onyekwere ENUGU

I

rish Ambassador to Nigeria, Sean Hoy, has said that his country would enter into bilateral trade relation with Nigeria to enhance trade boost between the two countries.

Ambassador Hoy who stated this during a courtesy call on Governor Ifeanyi Ugwuanyi of Enugu state at the Government House Enugu, noted that an Irish trade mission was billed to arrive Nigeria in September, to commence trade discussions with the country.

While congratulating

Adviser, Chairman of the committee, Comrade Sabestine Obyia, who led over twenty political parties on the visit, said if the opposition parties wre carried along, the government will be criticized constructively.

He noted that the Interparty Advisory Committee was not created to pull down any government in power but to assist in transforming the state, adding that if the government did not deliver on the campaign promises the blame will be on everybody and not only the government and therefore assured that the committee will partner with the present administration in the state to enable it succeed.

Comrade Obyia who is

the State Chairman of the Labour Party (LP), commended Governor Umahi, for the display of sportsmanship by not discriminating in his appointments, urging him to do more by including members of different political parties in the state in subsequent ones.

Responding, the Special Adviser told the party leaders that the present government in the state is for everybody irrespective of political affiliation.

He said Governor Umahi needs men and women of proven integrity which was why he appointed APGA senatorial candidate in the last general election, Prof.

Benard Odo Secretary to the State Government (SSG).

Charles Onyekwere ENUGU

T

hree affiliate members of the Joint Health Sector Union (JOHESU), of the Federal Neuropsychiatric Hospital Enugu, the Graduate Nurses Association, Association of Psychiatric Nurses of Nigeria (APNON), and General Welfare Association, have disassociated themselves from the activities of some of their members over what they described as blackmail of the man-

Enugu unveils plans to rehabilitate Assembly Charles Onyekwere ENUGU

of EnuIreland partners Enugu on trade Thegugovernment State has unveiled its plans to rehabilitate Nigerians for the successful conduct of the general elections as well as the eradication of the Ebola disease in the country, the Irish Ambassador, who said he was deployed to Nigeria during the outbreak of the Ebola virus and the polls, expressed happiness over the successful handling of the two challenges.

He, however, called on the Nigerian authorities and the people of the country to brace up to the challenge posed by the Boko Haram insurgency in

some parts of the country.

Hoy who told the governor that he was an observer during the gubernatorial election in Enugu State, noted tha the election was transparent, congratulating Governor Ugwuanyi for his victory.

He said he was in Enugu to witness the 40 yearanniversary of the Home for the Elderly Awkunanaw, Enugu, being organized by the Little Sisters of the Poor, a congregation of reverend sisters of the Catholic Church that takes care of the elderly

agement of the hospital.

The three unions that made up JOHESU of the hospital also noted that they have passed a vote of confidence on their Medical Director, Dr. Jojo Onwukwe, saying that the entire members of staff of the hospital were satisfied with his leadership.

In a joint statements, signed by the chairperson of the Graduate Nurses Association , Mrs. Grace Anoliefo, and the Secretary, Vitus Nwagwu, and other

the Enugu State House of Assembly complex to give it a befitting look as a legislative centre.

Governor Ifeanyi Ugwuanyi who stated this, when he visited the Assembly Complex on a working visit had expressed reservations over the poor state of the complex and told the Speaker Hon. Edward Ubosi, to ensure that a befitting structure was put in place to reflect his status as the number three person in the state.

He also noted that CCTV cameras should be put at

strategic places to properly monitor the movement of persons into the hallowed chambers.

While conducting the governor round the complex, the clerk of the House, Mr. Christopher Chukwura, drew the attention of the governor to the long abandoned complex canteen and the library, which he said needed to be given face-lift to make it more functional.

It can be recalled that in 2009, during the Coal City Centenary celebration, the complex built in the 60s by Okpara regime, was among the projects mapped out for renovation and reconstruction but little was done by the Chime administration in that respect.

member associations, the sssociations stated that the management of the hospital has always paid their salaries and allowances promptly.

They, therefore, distanced themselves from an earlier publication and announcement by purported JOHESU members namely Alozie Ejimmadu, Eric Ugwu, Tony Ozurumba, Ejike Ihezue, Matthew Eze and Friday Oduburu, blackmailing the management of the hospital.

The unions stated that they have not mandated any group or persons to challenge the management of the hospital over any issue, other than the welfare of the workers, saying that those responsible for the allegations have exceeded their mandate and were being manipulated to malign the good image of the management of the hospital and its Medical Director for their selfish reasons.

They also passed a vote of no confidence on Alozie Ejimmadu and his cohorts and called for their immediate impeachment.

change of name

MICHAEL

I, formerly known and addressed as Glory Ukpeng now wish to be known and addressed as Mrs. Glory Michael. All former documents remain valid. General public should please take note

42 News Cajetan Mmuta BENIN

E

do State governor, Adams Oshiomhole, yesterday commended the Nigerian Army for playing a big role in maintaining security with the firepower it provided for other security agencies to combat the menace of kidnapping and other violent crimes in the state.

The governor said the state has remained the safest in the South-South, pointing out that credit must go to the army for the role it played.

He stated this when he played host to the new Commander of the 4 Brigade, Nigerian Army, Brigadier-General Faruk Yahaya, in his office in Benin, the state capital.

He said his administration enjoys a robust relationship with officers and men of the command except for some incidents during the last general elections. According to him, “We have enjoyed a very warm relationship, somehow the army has been very supportive of this administration and of our state with particular reference to internal

Oshiomhole lauds Army for tackling crime in Edo security, even though the primary mandate of the army is clear to all of us, but because of the intri-

A

cacies of the security system, we have had to appeal to the President to allow the 4 Brigade help

to complement the police and the SSS on issues of internal security.

“Let me congratulate

you on your posting. I want to say that you are coming at a very interesting time. We have had a

L-R: Member, Edo State House of Assembly, Hon. Elizabeth Ativie; wife of Edo State Governor, Mrs. Iara Oshiomhole and a baby Girls Guide member at the National Camp of the Nigerian Girls Guide Association in Benin City…yesterday.

Group presents Lokpobiri for Bayelsa governor head of the forthcoming governorship election in Bayelsa State, a group known as the Bayelsa Progressive Movement (BPM) has called on Senator Heineken Lokpobiri, to run on the platform of the All Progressives Congress (APC) for the governorship election scheduled to hold on December 5, 2015.

Lokpobiri, a two time senator and former Speaker of the Bayelsa State House of Assembly, was among the one thou-

wednesday, august 19, 2015 NEW TELEGRAPH

south-south

sand PDP members who defected to the ruling APC in a colourful rally last Saturday in Bayelsa.

In a statement issued yesterday and made available to newsmen in Yenagoa by the President of the group, Comrade Timothy Owei, the group said the call became necessary having assessed the distinguished senator, who it said has impacted heavily on youth development in his senatorial district and in Bayelsa as a whole.

very fruitful and rewarding relationship, which successive Brigade Commanders and indeed the 4 Brigade since I assumed office here,” he said.

Oshiomhole continued: “This is why we now have the ‘Operation Thunderstorm,’ which is run under the leadership of the 4 Brigade. They have been extremely useful in ensuring peace and security in this state. My security brief by the SSS shows that any time they arrest criminals, particularly armed robbers and kidnappers, they have had to rely exclusively on the 4 Brigade for the fire cover.”

He explained further that, “There is no doubt that for the effort of the 4 Brigade, the state would not be as safe as it is today. We are very hopeful that under your leadership, the 4 Brigade will continue to complement the effort of the police and the SSS to ensure internal peace and security.

“I understand military officers are expected to obey superior orders, but when these orders are clearly unlawful, it behoves on a responsible officer to know where to draw the line.”

DELSUTH doctors on indefinite strike Gabriel Choba Ughelli

M

edical activities at the Delta State University Teaching Hospital (DELSUTH), Oghara in Ethiope West Local Government Area of the state have been crippled as doctors under the auspices of the Association of Resident Doctors (ARD) have commenced an indefinite industrial action in the hospital.

The doctors said they are on strike because of the precarious secu-

rity situation within and around the hospital.

The association in a statement signed by its President, Secretary and Public Relations Officer (PRO), Dr Okocha Innocent, Dr Omovigho Agbele and Dr Orhewere Ejiro, said in less than a year, four medical doctors have been kidnapped with their family members made to borrow money for ransom to secure their release.

Accusing the management of DELSUTH of delaying advancement and implementation of

Senior Registrars 1 (SR 1) salary and arrears after qualifying and functioning in same capacity for more than three years, the doctors said having had series of futile meetings with the management of the hospital, they had no option than to embark on the strike in order resolve the impasse between it and the management of the hospital.

Other demands of the doctors include two years arrears and non-refund for updates, outstation postings and examination sponsorship, non-

implementation of the readjusted relativity in Consolidated Medical Salary Scale (CONMESS), non-payment of some junior resident doctors’ salaries, non-accreditation of the department of postgraduate medical colleges, among others.

Meanwhile, when New Telegraph visited the hospital yesterday, activities were literally paralysed as a result of the strike with relations of most of the patients withdrawing them and taking them elsewhere for medical attention.

Call Edo gov to order, lawmaker Fresh Okowa, PDP's motions stall LP inaugurates committee to Delta governorship tribunal process pick candidate for Edo poll urges Buhari Uchenna Inya ABAKALIKI

T

he member representing Ohaozara/ Onicha/Ivo Federal Constituency in the House of Representatives, Hon. Linus Okorie, has advised President Muhammadu Buhari to call Edo State Governor, Adams Oshiomohole, to order on the purported appointment of two foreign forensic audit firms to look into the accounts of Federal Government revenue generating agencies from 2010 to 2015.

In a statement in Abakaliki, Okorie said neither the Oshiomohole-led National

Executive Council (NEC) Ad-hoc Committee on Excess Crude Accounts and Remittances to the federation account nor the NEC itself has the power under the constitution to make such purported appointments.

He also said that even if they have the legal authority, the said appointment is contrary to the clear provisions of the Public Procurement Act 2007, adding that the NEC, created under Part 1 of the Third Schedule of the 1999 Constitution (as amended) is merely an advisory body to the President and has no authority to enter into contractual obligations on behalf of the Federal Government.

Gabriel Choba Ughelli

T

he opening of testimony by the Delta State governorship candidate of the All Progressives Congress (APC) in the April 11 election, Olorogun O’tega Emerhor, in the governorship election petition tribunal, sitting in Asaba, was on Monday stalled, following three fresh motions filed by counsel to Governor Ifeanyi Okowa and the PDP, just as the hearing was to begin.

The tribunal had adjourned last Monday, August 17, for the peti-

tioner Emerhor to call in his witness; however, the tribunal had to adjourn till tomorrow to hear the fresh motions filed by the counsel to Okowa and the PDP challenging the subpoenaing of some INEC staff by the petitioner to testify in the tribunal.

The APC governorship candidate, had through his counsel, Mr. Thomson Okpoko (SAN), in readiness to call in his witnesses, had on August 7, after the pre-trial conference, filed a motion seeking the tribunal to subpoena some INEC officials to testify as witness before the tribunal.

Cajetan Mmuta BENIN

A

s politicians and political parties began strategising ahead of the 2016 governorship election in Edo State, the leadership and members of the Labour Party (LP) yesterday set up a ninemember committee to commence the process of searching for a credible governorship candidate in the 2016 governorship election in the state.

They also declared that no longer would the party be an appendage to any other political party in the state.

The LP members vowed that as an independent party, they are ready to wrest power from the All Progressive Congress (APC) in the state. According to them, the party must not fail in 2016.

Labour Party National Vice-Chairman in the South-South, Comrade Bobo Atari Aolou, who was flanked by the Deputy National Secretary, Julius Abure, tasked the committee to work to ensure the party’s cohesion at the ward, local government and state congresses to elect new executive members for the party.

NEW TELEGRAPH wednesday, august 19, 2015

News 43

north

Yola DISCO restores electricity in recaptured areas Ibrahim Abdul Yola

A

s nor malcy returns to areas recaptured from Boko Ha-

Suspended Plateau varsity VC resumes

ram in the northern parts of Adamawa State, the management of the Yola Electricity Distribution Company (YEDC) yesterday announced that it has fully restored electricity to Mubi town, the commercial hub of Adamawa State and its environs that had been bedevilled by the Boko Haram insurgency.

Electricity supply was disrupted in the area

about a year ago following the annexation of the area by the insurgents, who destroyed critical infrastructure belonging to the company.

The Acting Managing Director and Chief Executive Officer (CEO) of the company, Mr. Umaru Mustapha, who dropped the hint during a session with journalists in Yola, said very soon electricity will be restored in other

liberated communities in the North-East as part of the efforts of the organisation to revamp its operations.

He added that what prompted his appointment by the Federal Government was the need to salvage the company after the core investors demanded that the Federal Government grant them a force majeure due to the fact that it could not

sustain its operations as a result of the insurgency in the region.

He pleaded with the Federal Government to intervene in restoring power to the areas destroyed by Boko Haram as he said such project is capital intensive.

Mustapha said the purpose of his administration is to reposition the organisation so that other core investors can

Musa Pam Jos

T

here was jubilation at the Plateau State University, Bokkos, yesterday as hundreds of students and staff of the institution trooped out to welcome the suspended Vice-Chancellor of the university, Prof. Danjuma Sheni, as he resumed duty yesterday.

Immediately after returning to his office yesterday, the vice-chancellor suspended payments to all contractors and suspended all employment carried out by his predecessor during the period.

He also asked all the deans, heads of departments and coordinators, who were in offices as at September 30, 2014 before to his suspension to return to their offices with immediate effect.

Sheni added that new acting heads of department will be appointed as soon as possible.

He also set up four committees to carry out an audit of the personnel of the university, the finances and contracts award, students’ affairs and security, adding that members of the committees would soon be named even while giving them seven days within which to submit their reports.

Atiku mourns Emir of Misau

F

ormer Vice-President, Alhaji Atiku Abubakar, has described the late Emir of Misau, Alhaji Muhammadu Manga, as a leader of rare humility, whose contributions to the peaceful coexistence of his people would continue to be appreciated even in death.

In a statement issued on his behalf in Abuja and released by his media office, the former Vice-President said he was deeply touched by the passing of ‘such elderly gentleman.’

Atiku said from his own personal experience with the late Emir, humility was one of his outstanding virtues.

L-R: Comptroller-General of Customs, Dikko Inde Abudullahi; Kaduna State Governor, Mallam Nasir el-Rufai and Senator Sabo Nagudu, at the inauguration of Customs Hospital, Karu, Abuja …yesterday.

We’ve not asked for probe of Adisa’s death, says Afonja union Biodun Oyeleye Ilorin

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embers of the Afonja Descendants Union (ADU) in Ilorin, Kwara State, yesterday denied asking for the probe of the death of the former Minister of Works, the late General Abdulkareem Adisa.

The union in a statement issued in Ilorin, also denied insinuations that it claimed President Muhammadu Buhari was under spell and as such could not decisively handle the allegation of forgery of the Senate rules.

Both claims were made by the union's National President, Alhaji Olola Kasum, in a recent media interview.

But the ADU statement, signed by the union’s National Secretary and Assistant National Secretary, Alhaji Hassan Amao and Alhaji Isiaka Owolabi, respectively explained that they at no time held a meeting where such issues were discussed.

Part of the statement reads: “Similarly, we also want to use this

forum to further dissociate ourselves from Ola Kasum's opinion that President Buhari should deal decisively with the Senate President, Dr Bukola Saraki, over the porous and unsubstantiated allegation of forgery at the Senate.

“We therefore want to warn Olola Kasum and his sponsors to henceforth desist from using the name of our noble union, which is not a political organisation to launch unwarranted attack on the personality of the Senate President, Dr Bukola Saraki."

take over from him, noting that already his coming has started changing the face of the organisation as the company has been suppling power to its customers for 18 to 20 hours daily.

He said within three months of his administration, the perennial low voltage in Wukari have been addressed, noting that customers in the area have since started enjoying regular supply of electricity, adding that very soon, other areas will be affected by the positive transformation.

The Acting Managing Director explained that the major reason leading to the improvement in services is the zerotolerance attitude of the Muhammadu Buhari administration against corruption. He said since he came on board, it was no more business as usual, noting that the company is still privately-owned and has to take responsibility for its operations, including payment of salaries.

He enjoined members of staff of the organisation to shun corruption as anyone found culpable will be dealt with accordingly.

Adamawa healthcare workers protest unpaid salaries Ibrahim Abdul Yola

M

embers of staff of the Adamawa State Primary Healthcare Development Agency yesterday staged a peaceful protest in Yola, demanding for the payment of their outstanding salaries.

The protesting workers carried placards, calling for the removal of the Executive Chairman of the Agency, Dr Abdullahi Belel and the state branch Chairman of the Medical and Health Workers Union of Nigeria

(MHWUN), Mr. Jeremiah Ngwakwar, for allegedly neglecting them.

Spokesman of the protesters, Mallam Halilu Ahmed, said since the upgrading of the state primary healthcare department to an agency, the members of staff have been left in a limbo.

“Salary is not regular and we are yet to know our actual salary structure since we became agency staff two years ago; our salaries keep fluctuating,” Ahmed said.

He called on the state governor's personal intervention to address their plight.

Reacting to the development, the Executive Chairman of the agency, Dr Abdullahi Belel, said the workers were being owed two months’ salaries and the problem was caused by the dwindling monthly allocation for local government councils that are responsible for paying the agency’s workers.

Belel said the monthly salaries’ bill of the workers is about N300 million and due to the fall in monthly allocation to local governments, the deductions made were not enough to pay and on many occasions the agency had to borrow to pay.

Tambuwal bans lodging in hotels without valid documents Umar Abdullahi Sokoto

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enceforth all guests wanting to lodge in any hotel within Sokoto State will be required to have a valid identification card, Governor Aminu Waziri Tambuwal, said yesterday.

Tambuwal said this new directive becomes necessary in view of the precarious security situ-

ation in the country and the need to bolster same for the protection of lives and property in the state.

The governor, who spoke when his classmates in secondary school paid him a visit at his residence in Sokoto. He said the new policy, which he said is the standard procedure in all parts of the world, will affect both Nigerians and foreigners.

“In other parts of the world, you cannot just

go and lodge in any hotel without valid identification. However, this is not the case in Nigeria. We are introducing this policy as part of our commitment to security of the citizens.

“Sokoto has enjoyed peace, but we will not relent in our efforts, we will continue to do more to support our security agencies.

“If you are a foreigner, you must present your international passport with a valid Nigerian visa. If

you are a Nigerian, the hotels will demand one of drivers’ licence, international passport or national identity card,” Tambuwal added.

While urging all citizens of Sokoto State to be security conscious, Tambuwal appealed to the people not to relent in their cooperation with security agencies, adding that responsibility for securing the state lies with everybody.

44 WORLD | News

WEDNESDAY, AUGUST 19, 2015 NEW TELEGRAPH

South Sudan’s president declines to sign proposed peace deal

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outh Sudan’s government yesterday slammed a peace proposal that they are under intense diplomatic pressure to sign after rebels agreed to the deal to end the country’s brutal

civil war. “We strongly believe that this document cannot save the people of South Sudan,” Information Minister Michael Makuei told reporters, as President Salva Kiir returned home

Sri Lanka’s prime minister defeats ex-president in elections

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ri Lanka’s prime minister defeated the country’s former strongman in parliamentary elections, according to results released yesterday, blocking a key step of his bid to return to power seven months after he lost the presidency. Prime Minister Ranil Wickremesinghe said a majority of the people had endorsed what he called his administration’s good governance and consensual politics in Monday’s elections. “I offer my grateful thanks to all parties and individuals who worked untiringly during the election period to ensure victory for the people,” Wickremesinghe said in a statement.

Official results showed Wickremesinghe’s United National Party won 106 out of 225 seats in Parliament, while former President Mahinda Rajapaksa’s United People’s Freedom Alliance secured 95. Rajapaksa was attempting a comeback to power

after his shocking loss to a former ally, Maithripala Sirisena, in January’s presidential election. He was aiming to become prime minister, a position that could eventually elevate him back to the presidency. However, Rajapaksa must be content now with being an opposition lawmaker. The Tamil National Alliance swept the ethnic Tamil majority northern and eastern provinces with 16 seats in Monday’s balloting. Smaller parties won the remaining seats.

A political party or a coalition must have at least 113 seats to be able to form a government, meaning Wickremesinghe will have to seek some support. Rajapaksa was Sri Lanka’s president for nine years until his Jan. 8 election defeat. Rajapaksa loyalists compelled an unwilling Sirisena to nominate him for the election, but Sirisena had vowed not to appoint Rajapaksa prime minister even if he won a majority.

from peace talks in Ethiopia. “It is a sellout, and we will not accept it,” Makuei said, adding the government would now discuss the deal with the people for 15 days.

With diplomatic frustrations at breaking point over a conflict that has cost tens of thousands of lives, the international community had threatened possible sanctions if a deal was not reached by the end of Monday, urging the government to sign it. “Failing to comply would entail consequences,” the European Union said Tuesday, while the United States said Washington “would consider ways to raise the cost for intransigence.” Rebel chief Riek Machar signed the deal late Monday, calling on Kiir to join.

But Kiir who watched the

signing and briefly shook hands with Machar had warned from the start of talks that it would not be possible to sign a credible peace deal because rebel forces have split.

“We objected to it. There are disputed provisions and there are outstanding issues that need to be negotiated and agreed upon,” said Makuei, head of the government delegation to the talks. “If you –- people of South Sudan -- say that (we should) go and sign it, we will do so -- but I doubt if people will say so,” Makuei added. Key issues of disagreement are understood to include details of a powersharing proposal between the government and rebels, which could see Machar return as vicepresident. But powerful rebel general Peter Gadet and other key commanders last week ac-

cused Machar of seeking power for himself, and said they would not recognise any deal agreed.

The peace proposal has been put forward by the regional eight nation bloc IGAD, the Intergovernmental Authority on Development, as well as the United Nations, African Union, China and the “troika” of Britain, Norway and the United States. South Sudan’s civil war erupted in December 2013 when Kiir accused his former deputy Machar of planning a coup, setting off a cycle of retaliatory killings that has split the poverty-stricken, landlocked country along ethnic lines.

At least seven ceasefires have already been agreed and then shattered within days if not hours in the world’s newest country, which broke away from Sudan in 2011.

Flypast to mark ‘hardest day’ of Battle of Britain

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esterday marks the day 75 years ago when the Nazis launched a huge air offensive to try to cripple the UK during what is now known as the Battle of Britain’s “Hardest Day”. By three o’clock in the

afternoon on 18th August 1940, there were 100 German planes in the skies bombing enemy targets. The Royal Air Force lost 70 aircraft.

To mark the day, 18 surviving WW2 era Spitfires and six

Hurricane fighters will take to the skies of southern England.

The planes will leave Biggin Hill in south London, with some flying to Dover in Kent, some to the Isle of Wight and the rest will circle London.

UN council outraged by sexual abuse claims against peacekeepers

T

he UN Security Council on yesterday expressed outrage and anger over allegations of sexual abuse

by UN peacekeepers and said troop-contributing countries must investigate. The 15 member council spoke out following Secretary General Ban Ki-moon’s unprecedented decision to fire the mission chief head in the Central African Republic after a string of allegations of child sex abuse by peacekeepers. The council said in a unanimous statement that it shared Ban’s “outrage and anger at these allegations” and recalled that peacekeepers are deployed to protect civilians.

Council members stressed that “the primary responsibility of troop and police

contributing countries to investigate these allegations against their uniformed personnel, and, if appropriate to prosecute.”

Under UN rules, it is up to the troop contributing country to investigate and prosecute soldiers accused of misconduct while serving under the UN flag. But Ban told the council last week that countries often drag their feet and in some cases, nothing is done at all. The council’s move to push countries to investigate was in response to a scandal over mounting allegations targeting troops serving in the Central African Republic, where the United Nations took over an African Union mission nearly a year ago.

Top executives detained as China investigates Tianjin warehouse blasts

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en senior executives of the company that owned the warehouse site that exploded in the Chinese city of Tianjin have been detained, state media reported yesterday, as authorities promised to investigate the cause of the disaster.

Li Liang, the president of Tianjin Dongjiang Port Rui Hai International Logistics Co, which stores and transports chemicals, was among those being held, as was the

company’s vice president, Cao Haijun, and Song Qi, the chief financial officer.

They have been under detention since August 13. Earlier reports had said two unnamed executives of the firm were in detention. Massive explosions rocked the northeastern coastal city late Wednesday, killing at least 114 people, officials said, and devastating a large industrial zone and nearby residences. At least 57 people are still missing, according to authorities.

The day was marked with three flight formations

Indonesian rescuers find no survivors in wreckage of crashed plane

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ll 54 people on board a Trigana Air aircraft were killed in a crash two days ago in Indonesia’s Papua province, the latest in a string of aviation disasters in the Southeast Asian archipelago, officials said yesterday.

Major-General Heronimus Guru, operations director at Indonesia’s National Search and Rescue Agency, told a news conference in the capital the passengers’ remains were being put into body bags but poor weather had hampered efforts to recover them by air.

Officials have declined to comment on the cause of Sunday’s crash until the results of an investigation by the national transport safety committee are known, but Guru said the terrain in Indonesia’s easternmost province may have been a factor.

“There’s a possibility the aircraft hit a peak and then fell into a ravine because the place that it was

found in is steep,” he said. The treacherous terrain of forest covered ridges hampered rescuers’ efforts to reach the site where the Trigana Air Service ATR 42-300 plane came down. The aircraft’s black box flight recorder, which should provide investigators with some answers, was found in the early afternoon. The device will be taken to Oksibil town tomorrow, depending on the weather, Guru said.

Television broadcast footage of rescuers in camouflage fatigues and surgical masks hacking through foliage and sifting through debris at the crash site as a helicopter hovered overhead. There were 44 adult passengers, five children and infants and five crew on the short-haul flight from provincial capital Jayapura south to Oksibil. The twin turboprop aircraft was also carrying about $470,000 as part of a village assistance program. Poor infrastruc-

ture in the province means aid money is often flown in by air, said Abu Sofjan, spokesman for the national postal service, four of whose workers were among the passengers. There was no suggestion the money was somehow linked to the crash.

Five members of the Bintang Highlands district parliament and government were also on board, online news service detik.com reported. Reuters was not able to verify the report.

All on board were Indonesian, officials have said. Officials of Trigana, placed on a European Union list of banned carriers since 2007 over safety or regulatory concerns, were not immediately available for comment.

The aircraft made its first flight 27 years ago, online database Aviation Safety Network says. Trigana Air Service has a fleet of 14 aircraft, which are 26.6 years old on average, according to the airfleets.net database.

NEW TELEGRAPH WEDNESDAY, AUGUST 19, 2015

Sport News

International Sport

Rackets & Bats

46

46

47

Oliseh defends Ighalo’s omission

Fabregas ‘lacks tactical intelligence’ – Carragher

45

ITTF Awards: Quadri’s successor to emerge in Lisbon

Sport

Did you know?

That the card system was introduced after confusion over Jack Charlton’s intentional handball in the 1966 World Cup.

AAG: Oshonaike hopeful of t’tennis glory Adekunle Salami

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igeria’s table tennis star, Funke Oshonaike, has expressed optimism about the chances of the country’s pin pongers at the forthcoming All Africa Games taking place in Congo Brazaville.

Oshonaike is one of the players that have been training at the National Stadium, Lagos, in preparation for the continental fiesta.

She acknowledged that Egypt and hosts Congo are a big threat to the ambition of Nigeria to record a clean sweep of table tennis medals at the event.

The Germany-based player who is currently one of the most experienced on the continent said the level of preparation of the players gave her so much hope about the chances of the team in Congo.

Oshonaike, a former African number one player, said what she had seen so far in camp was enough indication that Nigeria would do very well at the games.

She said: “I am so impressed with the standard of the players so far. When you look at the top players here, there is this de-

The Sport Team Adekunle Salami Group Sport Editor

Emmanuel Tobi Assistant Sport Editor

Ifeanyi Ibeh Sport Correspondent

Ajibade Olusesan Sport Correspondent

Charles Ogundiya Sport Correspondent

© Daily Telegraph Publishing Company Limited

termination in their eyes and I believe that is good for Nigeria.

“Congo is a big threat because they have some Chinese players who have their passports while Egypt is also going to pose a problem but the way things are, we are ready to regain our position in Africa.”

The ping ponger who won four gold medals at the 2003 AAG in Abuja however stressed that a training tour would have been better for the team.

“It is obvious that we could have benefited more if we went on a tour abroad because there will be no distraction and we could have enjoyed better facilities to boost our readiness for Congo. That is a general problem this time because there none of the teams went abroad.

I believe the table tennis federation has done well with the early camping and the programme,” Oshonaike added.

Oshonaike

Oliha’s family at war over properties – Wife Vincent Eboigbe

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ust over two years after the death of former Super Eagles midfielder, Thompson Oliha, his wife, Iris, has lifted the lid on how the late footballer’s family members not only took away all the properties in his house, but have been tearing themselves apart over his estate following his death on June 30, 2013.

Iris stated that Oliha’s mother and siblings removed all the belongings immediately after his death and converted them to personal use, depriving her and the only child of the marriage, Paris, access to them.

Iris revealed that Thompsons’s family members took

…took away all assets in ex-footballer’s home

advantage of the fact that she was hospitalised for two weeks after having fainted on hearing of the sad news to raid the house in Ilorin, Kwara State, where Oliha was living, and carted away everything.

“Immediately after Thompson’s death, the family members went to Ilorin and took away all our properties. I was in the hospital, I was in coma for two weeks after falling ill following my husband’s death and my own family was battling to save my life.

“But Thompson’s people came and took away everything - even Thompson’s

phones, mine and laptops were taken away. They completely emptied the house. I was pregnant at the time but lost it due to the trauma,” Iris, who now lives in Auchi where she hails from, told our correspondent on the telephone.

Iris alleged that Thompson’s mum and siblings have been collecting rents on his houses both in Lagos and Benin, where Oliha hailed from, and that there have been squabbling among them, with the mum insisting that she is the one to inherit the son’s estate.

She continued: “Thompson’s siblings are busy fighting

over who should be collecting rents on his houses. His elder brother and mother have been at each other’s throat over the assets, with the mum claiming she should inherit them since she gave birth to him.

“These are the same people who were not on talking terms with Thompson, never said anything good about him. But immediately after his death, they came out like vampires and descended on his properties. They claim that Thompson worked for them and they have a right to his estate. It has CONTINUED ON PAGE 46

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Sport News

WEDNESDAY, AUGUST 19, 2015 NEW TELEGRAPH

Oliseh defends Ighalo’s omission Adeolu Johnson ABUJA

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uper Eagles coach, Sunday Oliseh, has defended the exclusion of Odion ighalo from the list of 18 foreign-based players he invited for the Africa Cup of Nations qualifier against Tanzania in Dar es Salaam on September 5.

Oliseh said he left the Watford of England striker out

because he could not invite three players for one position.

Some Nigerians had reacted negatively to the omission of the Watford striker who was on target in his club’s 2-2 draw at Everton in the English Premier League penultimate weekend.

Oliseh said: “Emmanuel Emenike of Al Ain, UAE, and Anthony Ujah who is playing top flight football with Werder Bremen of

Germany are better options.

Emenike, is a Nations Cup gold medalist and a heavyweight while Ujah is with a German top division side.”

He however added that Ighalo was in his plan for the Nations Cup and World Cup qualifiers.

The coach who trained with 14 home-based players in camp was impressed with the form exhibited by the players promising to change

Eagles playing style.

“People have been asking why did we invite 23 home based players when we knew we would still invite 18 foreignbased. They are forgetting that we have to keep the camp going till the end of the month when the foreign ones will arrive.

“We will, in the process, discover the good ones that will compete favourably with the foreign-based professionals,” he added.

‘Oliha’s family at Eagles will beat Tanzania, war over properties’

says Omeruo

CONT INU E D FROM PAGE 45

K

Odion Ighalo celebrating after scoring his first goal for the Super Eagles

asimpasa defender Kenneth Omeruo has predicted a Nigeria win over Tanzania in a 2017 AFCON qualifier next month.

Omeruo is among the 18 foreign-based pros announced on Monday by Nigeria coach Sunday Oliseh for the September 5, clash in Tanzania.

“I think the coach has picked a good squad and hopefully we can win our game in Tanzania,” Omeruo told AfricanFootball.com from his base in Turkey.

Omeruo further said he was delighted to be considered by the new Eagles coach.

“I am very excited to be called upon for the game,” said the Chelsea loanee,

Aba agog as Enyimba battle Kano Pillars Charles Ogundiya

T

he title credential of Enyimba of Aba will be sorely tested on Wednesday (today) when the team files out against defending champions of the Nigeria professional Football League, Kano Pillars, in one of the midweek games.

Enyimba, fighting real hard to wrestle the trophy from Kano Pillars, are currently second on the league table, a point behind Sunshine Stars who occupy the top position on the table.

After an indifferent start to the season, Kano Pillars are back in contention and the coach of the team, Muhammed

Babaganaru is already talking tough.

“We are genuine title contenders again,” declared a confident Babaganaru after his team saw off a determined Shooting Stars in front of their fans on Sunday.

“Our performance against Shooting Stars must be a warning to Enyimba, who we will playing on Wednesday in Aba.” Pillars, champions for the past three seasons, have been unbeaten in four matches since the return of Babaganaru in place of Okey Emordi, who was fired.

They however face their sternest test on Wednesday against Eny-

imba, who Babaganaru has picked to jostle for the championship alongside Sunshine Stars.

“Enyimba and Sunshine will give us a good fight (for the title). They have good quality,” admitted the former Nasarawa United handler.

Kano Pillars will however be without skipper Rabiu Ali and Moses Ekpai for the clash against Enyimba as they are suspended following an accumulation of bookings.

Other games scheduled for Wednesday will see Sunshine Stars taking on relegation haunted Dolphins in Port Harcourt while Heartland are at home against Kwara United.

Omeruo

who got off to a winning start with his Turkish club at the weekend.

“It’s always a pleasure to play for the country. I never had any doubts of making the national team.

“All I am focused on now is to help the team as much as I can and also to make sure we qualify for the Nations Cup.”

Osunfuyi wins pro-chess championship

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ne of the emerging stars in Nigerian chess scene, Abimbola Osunfuyi, was the hero at the just concluded Pro-chess quarterly championship held in Ibadan, Oyo State.

The prodigy, fondly referred to as ‘Young Grand Master’ secured a perfect score of five points in the pool of 120 players to win the top prize of N50, 000 and a trophy.

“It was a dream come true for me that I won this tournament because it is my wish to return to the summit of chess in Nigeria,” the calm winner remarked after the closing ceremony.

The duo of Odafe Benedict and Tolulope Ogunwobi were joint second with 4.5 points and took home N30, 000 and N20, 000 respectively. While Mutiu Salawu, Seye Oluwalasinu, Udeme Edet, Candidate Master Femi Balogun, Eugene Unwana and Tunde Onakoya were joint fourth with four points and won N5, 8000 each for their efforts.

Ikeme, Balogun, relish Eagles invitation

W

Ikeme

Oliha

olverhampton Wanderers goalkeeper Carl Ikeme and Germanybased Leon Balogun have welcomed their invitation to the Nigeria Super Eagles by coach Sunday Oliseh.

Ikeme, 29, is among the 18 foreign-based professionals called up for a 2017 AFCON qualifier against Tanzania.

“Very excited to be involved in my first Nigeria squad!! Thank you for all

your kind messages and support,” Ikeme tweeted.

In a related vein, Mainz defender Leon Balogun expressed delight for being invited by the Eagles.

“Even on this very rainy day I find reason to smile - I’m very delighted about the call-up for the #SuperEagles GodIsGood,” he tweeted.

Similarly, Obiora Nwankwo, Académica de Coimbra midfielder has spoken about his delight

after he was called up by Nigeria head coach, Sunday Oliseh.

This is definitely one of the best news I have heard in a long time. I am indeed honoured to have been found worthy to represent my country again.

Oliseh is one of my heroes. I watched him as a young kid playing for Nigeria, and working with him at the national team is something I am really looking forward to,” the 24-year-old said.

been terrible in the last two years.”

Iris is more pained that the family members who are tearing themselves apart over Thompson’s fortune do not care how the daughter their brother left behind has been surviving.

“Thompson’s family members are not interested in the wellbeing of his daughter. They don’t care whether she lives or not. They say she can only be in a position to lay claim to Thompson’s assets when she is of age. But the question is how does she survive now? Nobody is concerned about that.

Thompson’s mum, brothers and sisters are wicked people who are only looking out for their own interests,” Iris said.

She revealed that she was considering engaging the services of a lawyer on how to proceed given that her husband died intestate. She also stated that the extended Oliha family had tried to intervene in the matter with a view to resolving it since, according to them, it is the larger family’s name that is being brought to disrepute. But that Thompson’s mum and siblings had vehemently refused to honour the several invitations of the extended family to a meeting.

Iris added that the late footballer’s mum and siblings promised but failed several times to attend meetings called to find a solution to the disputes over Oliha’s estate.

Besiktas to bid 1.5m Euro for Lawal

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esikta are set to bid 1.5m euro for Nigeria international Raheem Lawal according to Eurosport Turkey.

The Black Eagles will also offer Ömer imanolu to Eskiehirspor as part of the deal.

The Istanbul giants are facing an injury crisis in central midfield with Veli Kavlak and Tolgay Arslan both ruled out until the turn of the year.

The Nigeria international midfielder has been closely linked with a move to Roma over the past week following EsEs technical director Bahadır Ünalan confirming the interest. Ünalan also denied interest from Turkish league champions Galatasaray who have also been closely linked with the 25-year-old midfielder.

“There have been no offers from Galatasaray but we do have an offer from Roma and talks are ongoing,” he told Radyospor.

Lawal joined Eskiehirspor from Mersin Idmanyurdu last February for 1 million.

The central midfielder had two assists and two goals in all competitions for EsEs last season and made a total of 30 appearances

Sport News

NEW TELEGRAPH WEDNESDAY, AUGUST 19, 2015

47

Fabregas ‘lacks tactical intelligence’ – Carragher

J

amie Carragher says Cesc Fabregas’ lack of “tactical intelligence” contributed to Chelsea’s 3-0 defeat at Manchester City on Sunday.

Chelsea have taken just one point from their opening two Premier League fixtures and Fabregas has also been criticised for his slow start to the season.

Blues boss Jose Mourinho usually opts to play an extra holding midfielder alongside Nemanja Matic for key matches

at home and in Europe, with Fabregas further forward, but Carragher believes the plan failed to pay off at the Etihad Stadium.

“Why do you play Ramires?”

Carragher asked as part of his analysis of the game for Sky Sports. “Because you’ve got someone in Cesc Fabregas who is a fantastic footballer, creates goals, scores goals, but he can’t defend - as we saw in the first 10 seconds when David Silva turns him and puts

Sergio Aguero through.

“He lacks tactical intelligence, especially defensively.

That’s one of the reasons Barcelona let Chelsea take him.”

He added: “If you play him in there [central midfield], Fabregas needs protection from Matic and Ramires and he didn’t get that, especially from Ramires.

“The problems they had down that left side came from Ramires and Fabregas together.”

Real Madrid sign Kovacic Benteke delighted to open Liverpool account

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iverpool striker Christian Benteke was delighted to open his account for the club in Monday’s 1-0 win against Bournemouth, despite the controversial circumstances surrounding his goal.

The Belgian - signed from Aston Villa during the close-season latched onto a Jordan Henderson cross to convert after 26 minutes, but Philippe Coutinho should have been flagged for offside having made his own failed

attempt to connect.

“It’s a great [home] debut for myself and for the team,” Benteke told Sky Sports. “The most important thing, though, is the three points. “[For the goal] I just said in my mind to keep going and you never know the ball can come into your feet.

“I was there in the right position and I am happy.

“It’s a great feeling and it’s important for the confidence for the next game.”

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eal Madrid have completed the signing of Inter midfielder, Mateo Kovacic, subject to a medical, in a deal reported to be worth 35million.

The Croatia international signed a six-year deal at the Santiago Bernabeu, and brings an end to a two-and-ahalf-year stay in Milan.

Kovacic had been linked with Liverpool earlier in the transfer window, but a move to the Premier League never materialised.

The 21-year-old, who scored five goals in 35 Serie A appearances

last season, switched to Inter in January 2013 after joining from Dinamo Zagreb in his homeland.

Inter coach Roberto Mancini all but confirmed the move this week, and stated that the Serie A giants cashed in due to Financial Fair Play regulations.

Kovacic

Messi (left)

Supercopa: No excuses for Barcelona, says Alves

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arcelona full-back Dani Alves has refused to make excuses for his team after Athletic Bilbao clinched the Supercopa de Espana on Monday.

A 1-1 draw at Camp Nou was enough to see Athletic secure their first trophy in 31 years, winning 5-1 on aggregate following last week’s 4-0 first-leg victory.

Lionel Messi had pulled a goal back for Luis Enrique’s men before half-time, but a red card to Gerard Pique shortly after the break ended any chance of a comeback.

“Perhaps we didn’t get enough things right in the two

games. Perhaps we didn’t compete as hard we can,” Alves told reporters.

“We paid the price for the European Super Cup match and didn’t have much time to prepare. There were all those things, but there is no place for excuses.”

Pique was shown a straight red card for protesting a lineman’s decision in the 56th minute of the second leg and Alves felt the centre-back’s dismissal hurt the Catalans’ chances.

“Pique was furious about the situation.

“The referee made a decision that did us damage, but that was no excuse either.”

ITTF Awards: Quadri’s successor to emerge in Lisbon with Ajibade Olusesan 0706 537 7853

AAG: Onaolapo targets gold in first attempt

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tar player, Ojo Onaolapo, has said that that he could claim gold medal in the men’s singles despite going to his first All Africa Games.

Onaolapo emerged second in the trials to claim a spot in the team to the Congo 2015 Games.

Although he was the star man as Nigeria won bronze medal in the team event of the 2014 Commonwealth Games in Glasgow, he will be attending All Africa Games for the first time.

He said that lack of experience in AAG might not count against him, saying that he is confident and good enough to go all the way.

He said that he was not aiming for the gold in only the singles event but also in the team event.

“I am going to Congo with determination to win in both men’s singles and team events for Nigeria. I want to put in my 100% so that I can achieve my objectives. It is true that this is my first time at the All Africa Games but it doesn’t matter, I just have to believe in my self and get the job done,” he said.

• Nigerian star donates board to Oyo council

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uccessor to reigning International Table Tennis Federation Star Player of the year, Aruna Quadri, will emerge in Lisbon, Portugal on December 9, the ITTF has announced.

Quadri shocked the world when he was voted the best table tennis player of 2014 in Dubai last January.

But he is unlikely to retain the crown after a somewhat underwhelming year.

According to the ITTF, the 2015 Star Awards is the third edition of the annual year-ending table tennis awards, and it promises to build on the immense success of

the two previous editions.

The world governing body said that the awards would be held prior to the GAC Group 2015 ITTF World Tour Grand Finals, and would recognise and celebrate the stars of table tennis, the players and coaches.

Meanwhile, Qaudri has continued to contribute his quota to the development of the game at the grassroots after he donated two table tennis boards to the Oyo State Sports Council.

Our correspondent learnt that the council got delivery of the equipment this week and the officials have been thankful to the Quadri player.

Dike, Famuloni emerge champions at ExxonMobil tourney

T Onaolapo

op seed, Gbenga Famuloni , did not disappoint as he won the men’s A singles event of the Ikoyi Club, ExxonMobil Tennis Championship. New comer Chinedu Dike won in the men’s B category.

Famuloni defeated Eze Walter 5-7, 6-1, 6-2 in the final, while Dike dispatched I. Ikebuzor

in straights set of 6-4, 6-1.

Loius Elnahkena beat Adaeze Collins 4-1 in the Girls u-16 category, while Ebuka Onwuchekwe defeated Bill Udah with the same margin in the boys’ event.

In the boy’s U-12 category, Chisom Collins won 4-1 against David Oresanya while Odunayo Akinremi won in

the girls’ category after defeating Kudirat Augusto 4-3.

Ikoyi Club Tennis Section chairman, Ede Osemwengie, said that he was satisfied with the quality of tennis played during the tournament and was looking forward to more fruitful relationship between the club and the sponsors, Exxon Mobil.

On Marble

Leaders come in many forms, with many styles and diverse qualities. There are quiet leaders and leaders one can hear in the next county. Some find strength in eloquence, some in judgment, some in courage.

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Carol Huynh was the first gold medalist for Canada in women’s wrestling and was the first gold medalist for Canada at the 2008 Beijing Olympics.

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Lure of constitutional and electoral design

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have maintained and will continue to maintain that for us to sustain the gains of the 2015 elections and improve on it during the 2019 general elections; we must begin now to plan and prepare for it. Part of the planning and preparation must involve the institution of credible constitutional and electoral framework for the conduct of the said elections. This means that the Independent National Electoral Commission, civil society groups, political parties and other critical stakeholders in the electoral process must begin early consultation, networking and analysis on what has been done, what has been left undone and what needs to be done in the constitutional and electoral framework of Nigeria.

But why is it that since 1999 we have been in the vicious web of electoral and constitutional reform and design? Why is it that we must always wait till elections are around the corner before embarking on the process of constitutional alteration and Electoral Act amendment? Why has it been difficult to carry out fundamental constitutional alteration and amendment to the Electoral Act that will be substantial, effective, sustainable, enduring and less controversial?

Why have we been in these issues for too long and more or less going in circles?

As my friend Udo Jude Ilo of the Open Society Initiative for West Africa posited in a programme organized by a civil society organization, RECLAIMNAIJA “there are fundamental gaps in the way we have approached reform of the electoral process which makes it difficult for us to achieve substantial change that will make our electoral system sophisticated enough to protect the peoples mandate, limit the possibilities of manipulations by politicians and reduce the instability risk factors associated with elections”.

But the truth of the matter is that the way we have handled issues around constitutional alteration and the reform of the electoral framework for the conduct of elections is consistent with our approach to serious national issues and challenges.

Sometimes we find it difficult to confront and deal with issues that need sheer political will and conviction.

Sometimes, we create institutions, assign roles and functions to them and yet find it difficult to submit our constitutional and legal problems to the interpretative and adjudicatory jurisdiction of such institutions. We go in cycles and pretend that all is well. But that is typical of the way we do things.

Unfortunately, the moment a law is passed and policies and decisions are put in place, some of our compatriots move in to undermine the laws, policies and decisions. Sometimes, they move ahead of the law makers. They think ahead, imagine the next move by civil society groups and other reformists and put in place means and mechanisms to undermine them. To some of these people free, fair and transparent elections are anathema to their physiology and psychology and must be undermined. Some of them cannot contemplate even remotely mounting the soap box to canvass for votes. It is not part of their psychological makeup. To some of them, it is more convenient to hire, drug and pay some skull crackers to create a state of mayhem around the

Hard Choices FESTUS OKOYE

festokoye2003@yahoo.com 08054480565 (sms only)

Amina Zakari, Acting INEC boss

polling units and scare away the voters and carry the ballot box and ballot papers.

Some of them train their own Presiding Officers and use them to doctor and or fill fake result sheets. They do all these because they are afraid of the people and the power of the vote.

But that is just part of the challenge. The point is that we can conduct credible elections with the present constitutional and legal framework. We can tame electoral fraudsters with the faithful implementation of the provisions of the constitution and the Electoral Act, 2010(as amended).

Unfortunately, regulatory agencies created to regulate and ensure proper conduct and behaviors are in need of regulation.

The enforcement agencies created and empowered to enforce the due observance of the law are also in need of monitoring and policing and the Nigerian people are left vulnerable in an electoral heist.

Rather than confront the weaknesses of our regulatory agencies and our lack of political will to submit to the rule of law and due process we run to redesign the constitution and the Electoral Act anytime we run into a cul-de-sac. Rather than carry out fundamental constitutional alteration and amendment to the law, we approach the exercise half heartedly. We make cosmetic and episodic alterations to aspects of the constitution with electoral flavour and return to the constitution for more alterations at the slightest sign of trouble.

We aborted and rendered inchoate the 4th alteration to the Constitution that had more substance. I may not be totally correct on the 4th alteration to the Constitution as speculations are rife that the former President of the Federal Republic of Nigeria Goodluck Jonathan assented

to it before he left office. But that is at the realm of speculation. Alteration to the fundamental law of the land cannot be reduced to market place gossip and speculation. The last I heard of the alteration was when the Supreme Court advised the Executive and the 7th Assembly to settle out of Court.

But we have been on the road of constitutional alteration since 1999. On October 19, 1999 the Government set up the Presidential Technical Committee on the Review of the 1999 Constitution which received memoranda from the public, organized public hearings and submitted its report to the government in February 2001. The government processed the report into A Bill for An Act to provide for the Amendment of the Constitution of the Federal Republic of Nigeria; 1999 and for Purposes Connected Thereto.” This Bill expired with the life of the National Assembly in 2003.

The National Assembly again on the 30th day of October 2003 set up its own Joint Committee on the Review of the 1999 Constitution. Unfortunately, the joint committee could not fly as the Government thwarted their efforts due to lack of funds.

On the 21st day of February 2005 the Federal Government set up the National Political Reform Conference. The question of revenue allocation, sincerity of the government and attempts to smuggle in a third term in office for the President bogged down the proceedings of the Conference.

In September 2005, the National Assembly presented for first reading The Constitution of the Federal Republic of Nigeria 1999(Amendment) Bill, 2006. The Bill remained still born until the life of the Assembly expired in 2007.

In 2007, the Federal Government set up the Electoral Reform Committee which made far reaching recommendations on amending aspects of the provisions of the Constitution of the Federal Republic of Nigeria with bearing on the electoral process. The report of the Committee is still subject to debates and contestation.

In 2014 the Federal Government set up the 2014 National Conference. The report of the Conference should be somewhere.

Of course we have had successful alterations to the Constitution. We had the Constitution of the Federal Republic of Nigeria (First Alteration) Act, 2010 which was signed by the Clerk to the National Assembly on the 6th day of January, 2011 and assented to by the President on the 16th day of January, 2011. The alteration placed INEC on the 1st charge, dealt with the issue of determination of four year tenure in cases of electoral misdemeanor and provided timelines for the resolution of post election disputes.

We had the Constitution of the Federal Republic of Nigeria (Second Alteration) Act, 2010 which among other things provided for new timelines for the conduct

of national elections by the Independent National Electoral Commission.

The Constitution of the Federal Republic of Nigeria (Third Alteration) Act, 2010 was passed by the Senate of the Federal Republic of Nigeria on the 14th day of December, 2010 and by the House of Representatives on the 15th December, 2010 and receipts of approval by the State Houses of Assembly on the 8th February, 2010. It was signed by the Clerk to the National Assembly on the 22nd day of February, 2011 and assented to by the President of the Federal Republic of Nigeria on the 4th day of March, 2011. The Constitution of the Federal Republic of Nigeria (Third Alteration) Act, 2010 further alters the Constitution of the Federal Republic of Nigeria to make for the establishment of the National Industrial Court as a superior Court of Record in Nigeria.

Furthermore, the Electoral Act has gone through half hearted amendments.

We amended it in 2002, 2006, and 2010 and again in 2010. Yet we still have the Electoral Act Amendment Bill still hanging in the balance. There is also speculation that the President assented to it and yet no one has seen a copy.

I agree that society is dynamic and “there is no Constitution that is perfect even if an autochthonous Constitution like ours.

I also agree that “the fact that our Organic Law by its nature is indigenous does not mean that the wise men and women who framed it are vested with omnipotence of God or vested with the ability to take care of all possible eventualities.” Yet we must not be slavish to constitutional alterations and legal amendments. We have invested so much time and resources altering the Constitution and amending the Electoral Act that it has become cyclical and slavish and yielding little returns.

We must aim at fundamental alterations and amendment to the Constitution and the Electoral Act and abandon the cosmetic approach. While aiming at the fundamentals, we must empower our regulatory and enforcement agencies, submit to the rule of law and due process and imbibe the culture of civility.

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- What a man can do...!

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