The Nation August 15, 2011 by The Nation

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I didn’t embezzle N400m, says PEF Secretary Kasali P4 Anxiety as Mikel’s father is declared missing in Jos P63 Crude oil found in Kwara State, says governor P5 http://www.thenationonlineng.net

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VOL. 7, NO. 1853 MONDAY, AUGUST 15, 2011

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Jonathan resists pressure to stop al-Mustapha’s trial Single tenure bill for National Assembly next month I am curious that the same Nigerians who will say all this will turn around ‘and say because a particular case is sensational, the President should wake up and put an end to it. I think that may not be a very good suggestion. The right thing to do is to allow the law to take its course. And that matter is before a court of competent jurisdiction.

•Dr Jonathan

HE President has rejected pleas to pull the brakes on Major Hamza al-Mustapha’s trial, presidential spokesman Rueben Abati said yesterday. Abati also said the bill on single tenure for the President and governors will be tabled by the executive before the National Assembly next month. He spoke on a wide range of issues in a session with State House reporters. al-Mustapa, former Chief Security Officer (CSO) to the late Head of State, Gen. Sani

From Vincent Ikuomola, Abuja

Abacha, is standing trial before a Lagos High Court for the June 4, 1996 murder in Lagos of Alhaja Kudirat, wife of business mogul Chief M.K.O. Abiola. Abiola, who won the 1993 presidential election, which the regime of ex-military President Ibrahim Babangida annulled, was in detention when his wife was shot dead. There has been pressure in some quarters for the trial to be stopped because of the

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number of years al-Mustapha has spent in detention. The suspect was arrested in 1998. Abati said the court should be allowed to do its job, adding that as an ardent believer in the rule of law, President Goodluck Jonathan will allow the trial to run its course. He also reminded those agitating for amnesty for alMustapha that the matter is between the Lagos State government and the defendants in the case. Abati said: “This is a matter that is before the court and this is also a matter that was

instituted by the Lagos State authorities. Now, this is the same country where we talk about the rule of law and allow the law to take its due course and this is the same country where we talk about federalism; this is the same country where we frown at political leaders interfering with judicial process. “I am curious that the same Nigerians who will say all this will turn around and say because a particular case is sensational, the President should wake up and put an end to it. I think that may not

be a very good suggestion. The right thing to do is to allow the law to take its course. And that matter is before a court of competent jurisdiction. “And you know Mr. President has always talked about the rule of law and he has made it clear that he will not do anything that will amount to violation of the rule of law.” Abati also said the President will receive the report of the Boko Haram commitContinued on page 2

Ex-militants deported •Likely to face trial From Dele Anofi, Abuja

IGHT ex-militants sent abroad for training have been ordered deported by the Federal Government. Accused of breaching ethical contract are: Igoli Chinese, Kingdom Weri, Omieh Jonathan, Orunnisiede Brinumugha, Otto Agbuwatse, Ogosi Ekankumor, Suama Agbaboh and Thursday Sinclair. They are expected back from Sri Lanka this week. They will lose all the rights enjoyed as pardoned ex-militants, in addition to possible prosecution on their return. No fewer than 16 ex-militants have been deported from the United States, Ghana and South Africa on account of indiscipline and poor conduct. Special Adviser to the President on Niger Delta Mr. Kingsley Kuku said the governContinued on page 2

•Prof. Wole Soyinka (right), Ogun State Governor Ibikunle Amosun (second left), President (2011-2012), Rotary Club, Ikeja, Lagos Mr Ade Oyenekan (third left) and his wife, Adekemi; and immediate past president of the club Mr Akintola Akin-Lewis (left) during the Investiture of Oyenekan at the Sheraton Hotel in Lagos ... yesterday. PHOTO: NIYI ADENIRAN

•SPORTS P15 •CITYBEATS P27 •JOBS P37 •MOTORING P47 •POLITICS P51

THE NATION MONDAY, AUGUST 15, 2011

NEWS

Ex-militants deported Continued from page 1

•From left: Managing Director, Mohinani Group of Companies, Mr Anil Mohinani, Chairman of the occasion, Senator Silvester Anyawun and General Manager, Somotex Nigeria Limited, Mr Ajay Singh, during the opening of the Abuja office of SomoVision ... at the weekend PHOTO: ABAYOMI FAYESE

ment would not tolerate indiscipline or acts capable of bringing Nigeria’s name into disrepute by those regarded as its ambassadors. Since its proclamation in October, 2009 by the late President Umaru Musa Yar’Adua, 26, 358 youths have been documented for amnesty; 16,000 have gone through demobilisation in Obubra camp, in addition to undergoing various skill acquisition programmes in Nigeria and overseas. A statement by the Head, Media and Communication, Amnesty Office, Mr. Henry Ugbolue, yesterday said: “Determined to stamp out indiscipline among trainees currently enrolled in the

Jonathan resists pressure to stop al-Mustapha’s trial Continued from page 1

tee on Tuesday. Besides, according to him, the single term tenure Bill is not yet at the National Assembly because lawmakers are on break. He assured that the bill will be tabled. To him, the debate on the proposed bill is healthy for democracy. “It is still at the level of ideas. How do you withdraw something that hasn’t been submitted? If you check the debate out there, you will see that there is a lot of people supporting the President, but with some of them saying the time is not right. It is not on record anywhere that the President said the proposal has been jettisoned,” he said, adding: “Yes, people have asked whether the President has withdrawn the proposal or bill on single term tenure. My immediate reaction is to tell people that how do you withdraw something that has not been tabled? It is a proposal and still at the level of proposal. It is still at the level of an idea and it has generated a debate, out there and at the moment, if you check the debate, you will find out that

there are as many people supporting it as there are people who are criticising it. “In my own estimation, there are even more people supporting the idea. It is just that they say well, I support the idea but I think it is what we need maybe the issue should not be brought up now. But on the relevance of the proposal, I think there seems to be no disagreement among the majority of Nigerians. What you must also know is that there has been a lot of partisanship developing around the discussion of the idea and I see that certain persons who do not even want to consider the proposal at all, who do not even want to look at the rationale behind it, are just inventing all kinds of stories, including saying it has been jettisoned; it has been withdrawn. It is not on record anywhere that the President said he is no longer interested in that proposal. If you have any evidence to the contrary, you can present it. People saying it has been jettisoned, whom are they quoting? That is the type of question we should ask and I keep saying on this particular issue, which seems to be exciting a lot of

people that the debate is healthy, for our polity. “Even some political groups that initially opposed it, are now saying ‘oh! we think it is a good idea but we are giving the President conditions and the conditions being that he will not benefit from it’ and I read such reports and I say what is the matter here? The President already said that from day one; so, how does that amount to a condition? What I have observed is that the more people reflect on the proposal, the more they consider it worthy. And the good thing about democracy is that all of us are upholding the debate. About the withdrawal, you don’t withdraw something that you are yet to table,” the presidential spokesman said. Abati said the Federal Government Committee on Borno crisis will submit a report this week. “The Boko Haram report is to be submitted shortly and the President will react to it because security is what the President takes very seriously” but, not all that is included in the report will be discussed publicly because it is a security matter. Such a report will not be

swept under the carpet, considering the membership of the committee, which put it together, Abati said. His words: “On the Boko Haram report that will be submitted shortly, you can be confident that Mr. President will act on the recommendations. You note that on the issue of Boko Haram, there has been a lot of consultations. “The President has met with various stakeholders, that committee was then set up as a follow up and what has been established clearly is that security in any part of Nigeria is something that the President takes very seriously.” He said because the President is yet to visit Maiduguri since the escalation of the crisis is no proof that he has not shown enough concern. He said: “Saying the President must visit Maiduguri is not the same as saying that the President has shown enough concern. The only thing is that everything is attributed to the President. Nigerians expect so

much from the President. His not visiting Maiduguri doesn’t show that he has no concern about the situation. Every security chief has been there and there are reports of efforts being made to address the matter. Meetings have been held with people from that part of the country, but people want the President to go there physically.” Abati said: “He is the President who has the common touch. Don’t forget in terms of his background, he is one of those we can relate to. The secret of his success is that he is not far removed from the people.” He reiterated the President’s position on accountability, transparency and openness in governance, adding that no government functionary would be protected from the law, if found wanting. “The President has the reputation of not interfering with agencies’ processes of handling corruption cases,” Abati said.

Presidential Amnesty Programme, the Special Adviser to the President on Niger Delta and the Chief Executive Officer of the Amnesty Programme, Hon. Kingsley Kuku, has approved the repatriation from Sri Lanka back to Nigeria of eight trainees. “The eight trainees who have serially breached the Code of Conduct for the Programme’s trainees are Igoli Chinese, Kingdom Weri, Omieh Jonathan, Orunnisiede Brinumugha, Otto Agbuwatse, Ogosi Ekankumor, and Suama Agbaboh and Thursday Sinclair “The eight trainees were expelled from a vocational training centre in Sri Lanka for offences ranging from fighting to wilful destruction of training equipment. “The eight trainees who travelled out to Topher Zhang Maritime Vocational Centre Sri Lanka a month ago, to commence vocational training in either undersea welding or boat building are due back in the country this week and shall be immediately handed over to the State Security Services (SSS) for proper profiling and possible prosecution. “Hon. Kuku has instructed the Accounts Department of the Amnesty Office to stop forthwith the remittances of monthly stipends to the accounts of the affected trainees. “The Federal Government, the Special Adviser added, will no longer condone serial cases of indiscipline among Amnesty Programme’s trainees posted to vocational or skills acquisition centres both within the country and abroad. “Indeed Hon. Kuku says the Amnesty Office is considering outright expulsion of unruly trainees from the Programme”.

Nigeria may supply crude oil to Botswana N I G E R I A a n d Botswana are finalising a deal that will ensure supply of crude oil to Botswana. If sealed, the supply will be done through the Walvis Bay route. Botswana President Seretse Khama Ian Khama is billed to visit Nigeria tomorrow. Nigeria’s High Commissioner to Botswana Ambassador Okubotin Charles Cocodia stated this in Gaborone, after presenting his Letters of Credence to the Botswana leader. Botswana’s Ministry of Minerals, Energy and Water Resources officials were in Nigeria last year to assess the viability of Nigerian oil as a source of energy for Botswana. Ambassador Cocodia, according to a statement by Moses Adeoye, the Head of Chancery of the Nigerian High Commission in Botswana, expressed the optimism that discussions on crude oil and gas importation

From Vincent Ikuomola, Abuja

between the two countries would bear fruit. He also appealed for private sector participation in the construction of a refinery that could be built in either of the two countries. Botswana experienced one of its worst fuel shortages in history at the end of last year due to a fuel pipeline burst in South Africa, the major source of its petrolelum products. This led the country to negotiate alternative suppliers and routes with Nigeria, Mozambique and Namibia. The High Commissioner said the two countries will cooperate in agriculture having learnt that Botswana is a success story in the beef industry. According to him, “With a population estimated to be around 150 million, Nigeria is the most populous

country in Africa and the eighth most populous in the world. We can look at option of exporting beef to my country (Nigeria) in processed form or otherwise.” While presenting his credentials to President Khama, Ambassador Cocodia spoke on the need to broaden and deepen the cooperation between the two countries with a promise to explore new and mutually beneficial opportunities that would galvanize trade and investment between both countries. President Khama described Nigeria as a big brother to his country and expressed gratitude for Nigeria’s assistance to Botswana at a time it was surrounded by hostile and bellicose countries that threatened its sovereignty and territorial integrity. He expressed the hope that his proposed visit to President Goodluck Jonathan tomorrow will further cement the existing cordial and bilateral relations between the two counties.

•Mr. Tony Elumelu, Chairman of Heirs Holdings and Founder, Tony Elumelu Foundation (right), with Mr. Musyoka Kalonzo, Vice President of Kenya, at a reception for Elumelu during his visit to Kenya ... last Wednesday

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THE NATION MONDAY, AUGUST 15, 2011

NEWS

•Osun State Commissioners: Mr. Sunday Akere (Information and Strategy) left; Mrs Temitope Ilori (Health); Stephen Kola-Balogun, (Youth, Sports and Social Needs; Olumuyiwa Ige (Lands, Physical Planning and Urban Develpment); Wale Bolorunduro (Finance); Mr. Surajudeen Ajibola Basiru (Regional Integration and Special Duties) and Mr. Kolapo Alimi (Local Government and Chieftaincy Affairs) at their swearing in at the Local Government Service Commission, Osogbo... at the weekend.

When bed space is gold in Lagos hospitals Many lives have been lost in hospitals, not for want of doctors or equipment for treatment , but due to lack of bed spaces. WALE ADEPOJU writes on the travails of patients/casualties in this precarious situation

RMED with a referral from the Public Health Centre (PHC) in his council area, an employee of one of the Local Council Development Areas (LCDA) in Lagos had arrived at a specialist’s office at the Lagos State University Teaching Hospital (LASUTH) as early as 6am. His dream of securing audience with the doctor was dashed upon discovery that he was the 70th patient to register that same day with such referrals. At the end of the day, he went home disappointed as the specialist could not attend to him. Such is the situation at all the tertiary health institutions in the Centre of Excellence, where available facilities can no longer cope with the influx of patients. Often, many patients, especially the not-so-rich ones, are seen on sofas and mats, receiving drips. Those deserving special attention get such on special arrangements. John (surname withheld) was taken to a teaching hospital in Lagos after sustaining a head injury in an auto crash. He could not be admitted at the Accident and Emergency (A&E) Ward of the hospital due to the non-availability of a bed space. After a brief moment, John died and his family was devastated. Anita, a two-year-old girl had pneumonia. She was rushed to the emergency ward of a teaching hospital. But, before the doctors could get her a bed space for admission,

she passed on. The late John and the late Anita joined the list of deaths recorded in the hospitals due to non-availability of bed spaces. Some experts, who spoke on the critical situation, agreed that something urgent must be done to reverse the trend. Prof. Akin Osibogun, the Chief Medical Director (CMD) of Lagos University Teaching Hospital (LUTH), spoke opn the development. He said: “We need to enlighten the people that teaching hospitals are not for headache, fever or malaria, but for serious medical issues that cannot be handled at the PHCs and secondary healthcare centres.” The President, National Association of Resident Doctors (NARD), Dr. Olarenwaju Ekunjimi warned that non-availability of bed spaces in hospitals could spell doom for patients under emergency situations. He flayed the influx of patients to institutions that ordinarily, should serve as research and referral centres. Sometimes ago, the Paediatric Ward of LUTH was forced to admit children, despite over-shooting its facility with an upsurge of patients at the ward. By the following day, the gesture had become the subject of debate. The hospital came under severe criticism in the media for delving into the provision of primary healthcare. In its defence, the LUTH manage-

ment had to call a press conference to enlighten the public on why it took such action. Osibogun, who is of the Community Health Department, knew that drastic actions needed to be taken and therefore urged workers to save as many lives as possible, based on a standing order from the Federal Government that no patient should be denied healthcare. The CMD had the backing of the Health Minister, Prof. Onyebuchi Christian Chukwu, who flew into Lagos from Abuja to help shed light on the situation. According to him, admitting the sick children was done in good faith. But the problem of over-crowding in the hospital cannot be solved overnight, as not many institutions can boast of adequate bed spaces. Some hospitals have even extended their A & E and Paediatric Wards to accommodate more patients. But the influx of patients from neighbouring states continues to swell the number at the teaching and referral hospitals. To worsen the situation, rural dwellers prefer to patronise teaching hospitals even for the slightest sickness. They have lost faith in the (PHCs) built across the 774 local government areas. Facilities at LUTH and other teaching hospitals that are either referral or research centres have become the first port of call for patients, who have not received the

desired attention at the PHC. The secondary institutions have also been underutilised, despite adequately kitted to take care of the medical needs of patients with complicated cases. But some patients say the A & E wards are not spacious enough to accommodate many patients at a time. They urged the government to expand such facilities to accommodate more in-patients. The CMD of LASUTH, Prof. Adewale Oke, attributed the influx of patients to the free health policy of the Lagos Government. In the state, health is free for children under 12 and the aged above 60. “We do not turn patients back. It is the instruction given to us by the Lagos State Government which is to ensure that the citizens enjoy maximum healthcare irrespective of their status, age, gender and creed”, he said. Oke said that LASUTH, being a general hospital before its upgrade to a teaching hospital, continues to attract patients because of the provision of primary, secondary and tertiary services before the transformation. “It would take a while before this is changed”, he added. Besides, he said the availability of the state-of-the art equipment and experienced manpower in the hospital are attractions for patients across the country. Apex Nursing Officer, LASUTH, Mrs. Modupe Jokotade Shode, said

the hospital receives between 3,000 and 5,000 patients daily. She attributed the traffic to the liberal policy of the state on healthcare services. The Secretary of the state branch of Medical Women Association of Nigeria (MWAN), Dr. Ime Okon said the inclement environment in the hinterlands is encouraging rural-urban drift, a development she noted, has contributed to the overstretching of facilities at the secondary and tertiary hospitals. “The rural areas are not developed enough for community health physicians to live in,” she said. For instance, Dr Okon said the rural areas lack social facilities like good schools, potable water and stable electricity to attract resident doctors. The are also no modern houses to attract doctors from the cities. “What of power? Usually, most rural areas don’t have electricity,” she said. Proffering a solution, she said: “The government should give some incentives to motivate doctors posted to rural areas. It may be a rural posting allowance. And rural posting should be rotational. “For instance, the University College Hospital (UCH), Ibadan, has a centre at Igboora where doctors are deployed to attend to the rural dwellers. LUTH also has an annex at Pakoto, a rural community in Ogun State and doctors are posted there to provide medical service to the people.”

Obasanjo yet to accept Daniel’s peace offer •15-man peace panel meets Jubril Martins-Kuye, ex-governor

RESH moves by former Ogun State Governor Gbenga Daniel to hold peace talks with ex-President Olusegun Obasanjo have not yielded results. Obasanjo, who felt betrayed by the former governor, has not accepted the olive branch from Daniel. But a 15-man peace panel has been raised to reconcile Obasanjo, Daniel and a former Minister of Commerce, Chief Jibril MartinsKuye. Investigation revealed that attempts have been made in the last three weeks for a peace meeting by the three leaders but Obasanjo is yet to either give his consent or decline. It was learnt that the former President has not forgiven

From Yusuf Alli, Managing Editor, Northern Operation

Daniel for working against the interest of the Peoples Democratic Party (PDP) during the April governorship poll in the state. A highly-placed source said: “The ex-President is yet to understand why he has to hold peace talks with Daniel after what he did. “There are subtle manoeuvres to persuade him to give Daniel a second chance but he has not made any commitment. “We are, however, hopeful that the ex-President may have a rethink after getting brief from the 15-man committee. “But Obasanjo is shocked that some of his loyalists have joined the peace train when he has not

given the go-ahead.” According to findings, members of the peace committee are Chief Ademola Awosanya(Chairman), ex-Minister of Mines and Steel, Chief Sarafa Tunji Ishola; Tunde Osholake; Senator Lekan Mustapha; Apostle Dave Salako; Deacon Iyabo Apampa; Hon. Aliyu Taiwo; Chief Olu Bankole; Chief Yemi Akinwumi; and Alhaji Niyi Adegbenro. Others are Chief Kola Olumide; Derin Adebiyi; Bisiriyu Popoola; Chief Kalejaye and Soji Emeje. It was gathered that the 15-man panel has met with Daniel and Martins-Kuye in their separate residences in Shagamu and IjebuIgbo. A member of the committee,

who spoke in confidence, said: “PDP leaders in the state felt we should forget the past and pursue the path of genuine reconciliation. “Although some of our leaders are still embittered over how Daniel worked against the PDP at the last poll, we are determined to resolve all differences and keep the party united again.” On lack of commitment from Obasanjo, the source added: “The ex-President will certainly have the final say, we cannot do anything without him. If it means all of us going to him to beg for forgiveness, we will do so. “We are not traitors as being alleged. Daniel offended most of us but we believe it is time to heal the wounds.”

•Daniel

It was gathered that PDP leaders in Ogun State may ask President Goodluck Jonathan to prevail on ex-President Obasanjo to forgive Daniel.

THE NATION MONDAY, AUGUST 15, 2011

NEWS Africa has potentials, says Obi GOVERNOR Peter Obi has said Africa has the potentials to drive the global economy. Obi spoke at a dinner organised for a delegation of Anambra State Associations in the United States of America. He noted that Africa has abundant untapped resources. Obi said through multisectoral development strategy, the state was on course to achieve the MDGs. He said his administration was the first to initiate and sustain collaboration with all associations of the state across the world as part measures to encourage them to contribute to rebuilding the state. The President of the Association, Dr. Allison Anadi, expressed satisfaction with the administration. Anadi promised that the association will sustain its partnership with the State government to elevate the state to a pride of place, noting that no administration has given such a support to any mission in any state. A member of the mission and Dentist from Haiti Dr. Daniel Duroseau said he attended to two hundred and eighty one patients during the medical mission and thanked the association for giving him the opportunity to be part of the success story of the state. Dr. Duroseau assured that he was ready to participate in the next mission and would equally attract other volunteers.

I didn’t embezzle N400m, says PEF Secretary Kasali

HE Executive Secretary of the Petroleum Equalisation Fund (PEF), Mrs. Sharon Kasali, yesterday said she did not mismanage or embezzle N400million as alleged in a petition to the Economic and Financial Crimes Commission by some anonymous Nigerians. She said she has only N4 million in her account and has never collected any inducement from marketers. She also claimed that some forces are out to demonize her just to ease her out of office for being transparent. Mrs. Kasali, who opened up on her travails in a statement signed by her counsel, Mr. Jiti Ogunye, said she has been transparent in office. The statement reads: “Late last week, on the 11th and 12th August 2011, the media were awash with the claim that Mrs. Sharon Adefunke Kasali, the Executive Secretary of Petroleum Equalisation Fund was arrested and detained by the

•Opens up on interaction with EFCC From Yusuf Alli, Managing Editor, Northern Operation

Economic and Financial Crimes Commission, the EFCC in connection with economic and financial crimes and corrupt practices. “For the records, we wish to state that, contrary to the report, Mrs. Kasali was not arrested and is not being detained in connection with any alleged commission of crimes. “She was invited by the EFCC for questioning as were four other staff before her, and all were allowed to go home. “During her questioning, Mrs. Kasali was confronted with an anonymous and unsigned petition written, by a so-called Concerned PEF Staff. “She made a statement; filled an Asset Declaration

Form; and was requested to surrender her international passports. She was granted bail in her own self-recognizance, and allowed to go home. In consequence, Mrs. Kasali canceled her scheduled vacation trip. “Three key allegations were hauled against her in an anonymous and unsigned petition: “The first leg in the petition was that Mrs. Kasali’s tenure as the Executive Secretary of PEF is over, and that contrary to “procedure”, she has refused to hand-over to the most senior General Manager in PEF. “It was claimed that a petition against her stay in office beyond her tenure had been sent to the Permanent Secretary of the Ministry of Petroleum, and that the Permanent Secretary had set up an investigation panel headed by a senior official in the Ministry

to investigate the petition. “For the avoidance of any doubt, the position of Executive Secretary of PEF is not a tenured position under the Statute establishing the agency. Mrs. Kasali was appointed to her current position four years ago, in April 2007, for an unspecified period of time. “ Very instructively, her predecessor in office was in that position for eleven (11) unbroken years. Mrs. Kasali helped clarified that misunderstanding. “The second allegation in the petition is that the sum of N400 million was found in Mrs. Kasali’s personal bank accounts and that the sums of N50 million and N30 million were found in some other accounts linked to her. “This being untrue, Mrs. Kasali said she operates two personal bank ac-

US happy with military investment in Nigeria From Dele Anofi, Abuja

Mark, Tambuwal too powerful, says envoy From Onyedi Ojiabor, Assistant Editor

A FORMER member of the House of Representatives, Ambassador Jerry Ugokwe has criticised the over concentration of authority in the presiding officers of the National Assembly. Ugokwe specifically canvassed devolution of certain percentage of powers of the Senate President and the Speaker of the House of Representatives to the National Assembly bureaucracy to protect the parliament. He stated this while delivering a paper titled “Bridging the Citizens and Activities of the National Assembly” at a workshop organised by the Policy and Legal Advocacy Centre (PLAC) in Abuja at the weekend. Ugokwe, who was Nigerian Ambassador to Austria, said: “It could be in a certain percentage but it is still very important because members and principal officers come and go but the institutional memories reside in the administration. So, there must be some ways of holding the people who are in the administration responsible for anything that goes wrong.”

counts and the combined total amount of funds in the accounts is below N4 million, out of which N1.6 million is a rent, just collected on a property jointly owned with her husband. It was possible it wasn’t her account they had in view, she told them. “The last allegation falsely flung at her was that Mrs. Kasali forces oil marketers to make donations to Diamond Lights Women Empowerment Initiative. Diamond Lights Empowerment Initiative is an NGO founded by Mrs. Kasali in 2005 (two clear years before she got her present appointment) out of her conviction that indigent young women from all works of life needed empowerment. “The objective of Diamond Lights is to assist young women in removing circumstantial limitations placed on them by society. Diamond Lights is not a front for money laundering.”

• From left: Wife of the late Dr. Ayodeji Daramola and Special Adviser to the Deputy Governor of Ekiti State, Mrs. Kehinde Daramola, Deputy Governor Funmilayo Olayinka, Mr. Femi Falana, Governor Kayode Fayemi and Prof. Foluso Okumadewa, during the fifth anniversary Memorial Lecture of the late Daramola,in Ado-Ekiti... on Friday.

Afenifere: Adesanya’s integrity unassailable

FENIFERE chieftains, who worked closely with the late Yoruba leader, Senator Abraham Adesanya in his life time, yesterday described him as a man of impeccable integrity, who defended the cause of the masses. The chieftains, Mr Jimi Agbaje, Prince Dayo Adeyeye, Akinyemi Onigbinde, Hon. Funminiyi Afuye and Mr. Yinka Odumakin, who now belong to different political platforms, worked with Pa Adesanya as members of the group’s Political Committee. The chieftains said in a statement that the Chief Security Adviser to the late Gen.

By Emmanuel Oladesu Deputy Political Editor

Sani Abacha, Major Hamzat al-Mustapha, was making a futile attempt to rubbish the memory of the late nationalist and his contributions to the development of the country. Adesanya, they said, led an uncommon life of discipline, self-denial and accountability. They said: “As we sat under his feet, he took us to the brook of wisdom with indelible importations for lifetime. One of such lessons was his anecdote of a man who went to bury his senior

brother in shallow grave and was told by his junior brother who witnessed the scene that “enough notes have been taken from this outing to handle a similar occurrence tomorrow”. “It is against this background that we believe it would amount to sinful silence not to raise our voices in a season of moral crisis where a murder accused is taking advantage of the national fickleness of the minds to rake mud against the memory of the late Adesanya and his deputy, Chief Bola Ige; to muddle his role in the murder of Amazon Kudirat Abiola”. Berating al-Mustapha for his

cheap innuendoes and courtroom fables, they said that he started his tales in the courtroom by lying that he had video tapes of Yoruba leaders led by Adesanya and Ige being induced to sabotage the June 12 struggle and sacrifice Abiola in the course of their visit to General Abdusalami Abubakar, who became Head of State after the death of Abacha. The chieftains said there was, however, an anti-climax because the video he tendered was footage of an NTA report Nigerians watched in 1998, when Adesanya led a NADECO delegation to Aso Rock.

OAU releases post-UTME results

ESS than six hours after the conduct of its postUTME screening exercise, Obafemi Awolowo University, Ile-Ife, yesterday released the results of the exercise. A release issued by the Public Relations Officer of the

By Ademola Adesola

institution, Mr Abiodun Olanrewaju, showed that of the 41,391 candidates, 8,602 scored 200 and above, while 48 made 300 and above. Three candidates exhibited highly exceptional brilliance. Their results showed

some significant improvement over their UTME scores. The candidate with the highest score, Sanni Mutmainah Ololade, had 358 in the postUTME and 322 in the UTME. Falokun Tolulope Janet, who got the second highest score of 336, made 290 in her UTME, while Adeagbo Hafiz Ade-

bayo who came third with 324, had 282 in the UTME. The three candidates applied to study Medicine/ Surgery, Law and English Language. Olanrewaju urged candidates to check their results on the university’s website.

HE United States government has expressed satisfaction with the Nigerian military. The US confidence was expressed at the weekend at the Nigerian Air Force (NAF) Headquarters during the unveiling of NAF’s 445 Hospital medical laboratory by the Medial Laboratory Council of Nigeria (MLCN). The NAF facility is the first and only 5-Star rated medical laboratory in the country. Speaking with reporters after the event, the US Department of Defence (DoD), Robert Nelson, who underscored the recognition of the NAF medical laboratory, said: “This milestone is not only for the Nigerian Air Force but a fantastic day for medical care and support that the Americans invested in Nigeria. It shows that we have the strongest military-to-military partnership in Africa.”

Tricycle rider killed in Lagos By Jude Isiguzo

HERE was pandemonium at Orile Iganmu area of Lagos yesterday when some tricycle operators barricaded a police station threatening to burn it down over the killing of one of their colleagues by policemen. It was gathered that one of their members was shot and killed by the police on Saturday during a clash between them and ‘Area Boys’. Fifteen other riders were hit by stray bullets. Police spokesman, Mr Samuel Jinadu, a Deputy Superintendent (DSP), said nine suspects have been arrested and are being interrogated by operatives at the Special AntiRobbery Squad (SARS), Ikeja. He denied the involvement of any policeman in the killing, claiming that the tricycle operators were trying to blackmail them. Trouble started on Saturday afternoon when the touts came to ask the operators to vacate the park which has been given to a new manager.

THE NATION MONDAY, AUGUST 15, 2011

NEWS

UNEP report: Ogoni give Fed Govt 30-day ultimatum

HE Ogoni ethnic nationality in Rivers State yesterday said they would begin a non-violent mass action after a 30day ultimatum, if the Federal Government fails to take action on the implementation of the United Nations Environment Programme (UNEP) key recommendations. They urged the Federal Government to implement the key recommendations of the report to show that it is not only the violent option that can spur the government to positive action. The Ogoni described as callous and inhuman the response of the Shell Petroleum Development Company (SPDC) to the UNEP report, which they said dwelt on its trite blame game.

highlighting obvious especially the public • To embark on non-violent mass action if… togaps, health implications and From Bisi Olaniyi, Port Harcourt

Ogoni called for an immediate apology from the Anglo/Dutch oil giant for the deaths and health hazards its activities had caused in its four local government areas of Khana, Gokana, Tai and Eleme. The ethnic group’s demands were issued in an eight-point communiqué in Port Harcourt, the Rivers State capital, by the President of the Movement for the Survival of the Ogoni People (MOSOP) and Chairman of the Niger Delta Technical Committee (NDTC), Ledum Mitee, after a special Ogoni congress. The congress, which was attended by over 5,000

Ogoni, took place on Saturday at the Peace and Freedom Centre, Bori, the seat of Khana Local Government Area and traditional headquarters of Ogoniland. The ethnic nationality urged the committee on the UNEP report to review the struggle for justice, especially on the case filed by the people of Bodo, in Gokana Local Government Area at United Kingdom courts against Shell and the UNEP report on the environmental assessment of Ogoniland. The communiqué reads: “Considering the highlighted emergency of the situation of environmental devastation in Ogoni and the health hazards to which Ogonis are exposed on a

daily basis, congress expresses disappointment at the responses so far from the government. “Congress mandates MOSOP to immediately embark on mass mobilisation of Ogoni people towards an eventual non-violent mass action, if after 30 days no action is taken towards the implementation of the recommendations. “Congress, similarly, mandates MOSOP to report the dire situation to all our national and international partners and friends and to seek their continued support. “Congress further decides to set up a Technical Committee, to do a detailed analysis and review of the UNEP report, with a view

making recommendations of possible steps to be taken by the Ogoni people, including but not limited to legal action in appropriate jurisdictions. “The Committee has 30 days to submit its report and all Ogonis of relevant competences are enjoined to make inputs into the work of the committee. “Noting that the recent spill in the Gulf of Mexico was cleaned within a record time and not within 20 to 30 years, congress insists that a similar initiative, expertise and commitment have to be put into the Ogoni clean up to save future generations of Ogoni people from another 30 years of exposure to the stated health hazards of oil pollution.”

Ahmed affirms oil discovery in Kwara From Adekunle Jimoh, Ilorin

WARA State Governor Abdulfatah Ahmed has affirmed the discovery of crude oil in Ara Orin, Irepodun Local Government Area. The discovery comes as the state identified solid minerals development and mining as key sources of internally generated revenue to fund its development programmes. In a statement, the Senior Special Assistant to the Governor on Media, Dr Muyideen Akorede said the governor announced the discovery in Ilorin when he received the management team of the National Mirror Newspapers at the Government House. The statement reads: “Clearly elated, Ahmed said the discovery was first highlighted by a farmer, who discovered crude oil sprouting from his farm and seven other adjoining sites and alerted the government. “Ahmed said geologists from the state Ministry of Industry and Solid Minerals were directed to confirm whether the substance was indeed crude oil and if so, identify the blend. “According to the governor, the ministry officials not only confirmed the substance as crude oil but also identified the blend as Bonny Light, a high-grade of crude oil preferred by European and American refineries due to its unique properties. “Ahmed said the find was verified through independent analysis by a private oil company, which also confirmed the government’s findings.”

•Edo State Governor Adams Oshiomhole (left) greeting Chief Shati Mogaji and Suleiman Bello (middle) during the visit of Peoples Democratic Party (PDP) leaders from Auchi, Etsako West Local Government Area, to the Government House, Benin, to announce their plan to defect to the Action Congress of Nigeria (ACN).

Boko Haram’s plan has failed, says minister

HE Minister of Interior, Comrade Abba Moro, has said the plan of the Boko Haram sect was to make Nigeria ungovernable for President Goodluck Jonathan. He noted that some people have been making efforts to undermine the victory of Dr Jonathan in the April presidential election. The minister said such plans have failed. Moro spoke in Abuja when he received members of the David Mark Senatorial Campaign Organisation in his office. He said internal security machinery had been placed on alert to contain the situation.

From Gbenga Omokhunu, Abuja

The minister emphasised that the era of “governmentcan-do-it-alone”on the issue of security was over, urging Nigerians to believe in making the system work. He said: “As you are aware, I have been placed in the Ministry of Interior at this time that Nigeria faces a lot of security challenges. There is no doubt that the activities of sects, the activities of religious bigots, activities of unwanted elements have translated in recent time to activities that seek to make Nigeria ungovernable. “Yet, as you are aware, all hands are on deck and all

internal security machinery has been placed on red alert to contain the situation. I am happy to inform you that despite the challenges that are ahead, Nigerian security agencies are on top of the situation. “Efforts have been made to ensure that the victory at the polls of President Jonathan is not undermined by people who are not satisfied with the results and the victory. Today, Nigeria is at the threshold of transforming from a country of unbelievers to a country of people who believe that things will work in the system. “Mr President expects some level of passion for the

reformation of this country and, today, all activities of government are geared towards ensuring the total transformation of this country. Nigerians can start believing now that the system can work again. I want to assure you that with the passion, commitment and determination of the Federal Government that in the next couple of years Nigeria will be gradually limping into the realisation of our Vision 20:2020. “I want to invite all of you to share the challenges of nation-building, to share in the challenge of ensuring security in this country. As you are all aware, security is a shared responsibility.”

Dakingari denies N9b missing from treasury

EBBI State Governor Saidu Dakingari has said it is not true that N9billion was missing from the treasury. The governor noted that those peddling the rumour were politicians who wanted to cause disaffection in the state. Expressing shock over the rumour, Dakingari said: “I don’t have N9billion in the account because Kebbi State

From Khadijat Saidu, Birnin kebbi

money is being used to execute projects and I am the only one who can sign out money from the treasury. So, where is such money being stolen from? Anybody saying this should come out with evidence. As far as I am concerned, no money is missing from Kebbi State accounts.” The governor spoke in

Birnin-Kebbi, the state capital, after the swearing-in of 17 commissioners. He urged the new appointees to be transparent in discharging their duties. Dakingari said out of the 17 commissioners, 12 were reappointed while the others were newly appointed. The governor described the commissioners as prudent managers of resources. “I appoint them based on merit and their past

records,” he said. He said his achievements in the past four years made the residents to re-elect him for the second term. Dakingari promised to give the residents more dividends of democracy and development in the next four years. The governor also promised to pay the new minimum wage recently signed into law by the Federal Government.

Man, 50, hacked to death in Jos night attack From Yusufu Aminu Idegu, Jos

A 50-YEAR-OLD man was on Saturday night macheted to death at his home in Jol village, Riyom Local Government of Plateau State. The incident, which occurred at 6.30pm, caused tension that would have resulted in a reprisal attack but for the prompt intervention of the members of the Special Task Force (STF) on Jos crises. District Head of Jol, Danladi Taje, confirmed the attack. He gave the name of the victim as Monday Bahajo. Taje said: “Since April, there have been cases of secret killings in the area. We have been reporting the cases to security agencies but they have not been able to trace those behind the killings.” The government has expressed shock over the killing. In a statement, the Special Adviser to the governor on Media and Publicity, Pam Ayuba said: “Government is not only sad over the attack, it is disappointed over the situation because a lot of time and energy has been injected to sustain the prevailing peace in the state. “Peace has returned to the state but some people will not want it to be sustained as a deliberate attempt to spite government’s efforts at peace-building. “The governor (Jonah Jang) appeals to the people to remain calm and avoid taking the law into their hands. The governor also sends government condolence to the family of the deceased and urges them to take the death of their loved one as an act of God.”

‘PDP needs to be more proactive’ From Sanni Onogu, Abuja

ONE of the aspirants for the position of the National Chairman of the Peoples Democratic Party (PDP), Ibrahim Shehu Birma, yesterday said the party needs to be more proactive in its approach to issues if it hopes to remain relevant. Birma, who is from Biu in Bornu State, is the third aspirant from Borno to declare his interest in the position. The others are: former Minister of Defence, Dr. Shettima Mustapha and Alhaji Gambo Lawan. Apart from aspirants from Bornu State, others who have indicated interest in the chairmanship position from the Northeast are: Ambassador Hassan Adamu; Chairman of the African Business Roundtable, Alhaji Bamanga Tukur; former Bauchi State Governor Adamu Muazu; two incumbent members of the National Working Committee (NWC) of the party, Prof. Ahmed Rufai Alkali, (National Publicity Secretary); and Dr. Musa Babayo, (Acting National Secretary).

THE NATION MONDAY, AUGUST 15, 2011

NEWS Woman gives birth to abnormal baby in Ekiti

Why Mimiko neglects party stakeholders, by Oni

From Sulaiman Salawudeen, Ado Ekiti

WOMAN has given birth to an abnormal baby at the General Hospital, Iyin, Ekiti State. It was learnt that the baby, which was delivered through caesarian section, had no brain. Health workers were shocked and the hospital became an instant Mecca for residents eager to see the baby. An official of the hospital, who pleaded for anonymity, said: “His head was open at the back and you could see mucus inside it, instead of brains. It was strange; nobody in the hospital had seen such a strange creature in the form of a baby before.” Confirming the incident yesterday, Commissioner for Health Wole Olugboji said: “There was a woman who gave birth to a baby without a head at the General Hospital, Iyin. The baby is now dead, but the mother is alive and in fair condition. “She was not allowed to see the creature, which was quickly disposed of to save the parents from embarrassment.” The father of the baby, it was learnt, witnessed its birth and approved its interment. A source said the baby had two bulging eyes and few strands of hair on its forehead. Another source said: “The strange baby was very small. Its delivery was equally abnormal, as the birth fluid from the mother was more than the usual quantity.” The woman was said to have gone for series of ultrasound scans at a number of private hospitals, where she was told she was carrying a set of twins. Sources said she got a contrary result at the General Hospital, Iyin, where she was told she was carrying a headless fetus. A doctor said the baby must have been deformed due to the effects of some drugs or herbs. He said: “That is why we always ask expectant mothers not to take any drug unless they were prescribed by doctors. Olugboji advised people to always make use of facilities available at government hospital.

Govt exists for all, Aregbesola tells striking workers

S the Osun State workers’ strike hits the sixth working day, Governor Rauf Aregbesola has said it is erroneous to believe that the government exists only for the welfare of workers. He spoke on Friday after the Jumaat Service at Alhaji Salaudeen Oladejo Memorial Mosque in Osogbo, the state capital. Aregbesola said the lingering disagreement over the modalities for the implementation of the N18,000 minimum wage was premised on the wrong belief that the government must be concerned about the welfare of workers alone. Describing workers as part of the machinery of government anywhere in the world, Aregbesola argued that any government that focuses on the payment of salaries at the expense of the larger part of the society would fail.

From Adesoji Adeniyi, Osogbo

Aregbesola said: “For a long time, we have been under this erroneous impression that the welfare of the workers alone is the purpose of governance. No! “If you commit the entire resources of the state to the payment of workers, what happens to millions of other people who are also stakeholders in the same state and are not on the government’s payroll? “Don’t they have the right to good roads and qualitative education? Are you not going to provide water for the generality of the people? “You must be able to provide infrastructure, but all these will remain dreams if all you do is pay salaries and nothing remains.” He said the a huge part of the state’s funds has been committed to the implementation of the minimum wage.

•ACN: resignation of ex-LP chair long overdue •PDP: they are birds of a feather

ORMER Chairman of the Labour Party (LP) in Ondo State Dr. Olaiya Oni has explained why Governor Olusegun Mimiko allegedly neglects the party leaders. Oni has resigned as chairman, following a disagreement between him and the governor. Oni told reporters in Akure, the state capital, that Mimiko refused to give funds to LP chiefs to prevent them from sponsoring another candidate in the 2013 Governorship Election. He said that was why many of the governor’s aides and party chiefs had no knowledge of how the state’s revenue was being spent monthly. Oni said: “If Mimiko detects that you are politically strong, he will not allow you come out bright. That is why in his government, you will only find those who have no political strength; those who do not know their constituencies. “Mimiko doesn’t like my strength of character and he believes that if I have resources, I might sponsor another candidate to take over from him. “He has forgotten that he didn’t give me one kobo to maintain the party when he was campaigning to be governor. Party leaders contributed money; they sold their assets to run the LP from December 2006 to 2009. No single kobo came from Mimiko, either at the state, local or ward levels during that period. “What has he done for those people since he came to power? Mimiko will tell

From Damisi Ojo, Akure

you God cooked the soup for him, when party members complain. That is a sarcastic and unexpected statement from him. “Did God come down from heaven to cook the soup? Didn’t he use people? He used me and other party leaders across the state. “I had a name which I brought to LP. I was Secretary to the State Government and federal minister, and I don’t want him to tarnish that name. “So, it is better for me to withdraw and leave him to dance in the rain because my name is more precious to me than anything. I am 70 years old and in politics to serve my people.” Oni wants to take a break from politics for now. The Action Congress of Nigeria (ACN) described his resignation as “long overdue.” In a statement, the party’s State Director of Publicity and Media, Gbenga Akinmoyo, said the ACN had always stated that Mimiko had dictatorial tendencies. Akinmoyo said this had been confirmed by Oni’s statements. He said the timing of Oni’s resignation was right, adding that the ACN recently placed on record the government’s receipt of N16.38 billion (N16,385,944,464) as July 2011 allocation. Akinmoyo said Oni demonstrated that he no longer wished to be part of the alleged fraudulent mismanagement of the state’s resources. The statement reads: “We

celebrate the courage of the former chairman and praise him for his revelation that from the inception of this government about 30 months ago, the party and the state have been run as a one man show by a person, who fails to realise that Ondo State is bigger than any individual. “It is noteworthy that this elder statesman recognised that he was about to jeopardise everything he has achieved in his public service and decided to abandon the LP sinking ship, before he and other good meaning citizens go down with the dictator. “It is a rarity in modern day politics in this part of the world, for a senior party official to resign his appointment, leaving behind the largesse of office, in order to retain his credibility and for this we welcome this development.” Akinmoyo called on progressive indigenes to emulate Oni by releasing themselves from the “Iroko Bondage and join the ACN.” The Peoples Democratic Party (PDP) said Oni’s resignation marked the beginning of the LP’s death. It noted that reasons given for his resignation were the realities of governance in the state under Mimiko’s administration. In a statement, PDP State Director of Publicity Mr. Ayo Fadaka said Oni’s statement further confirmed that appointments made by Mimiko’s government were not in the state’s interest. He alleged that contracts were awarded not to provide services, but to take money

out of the state’s coffers. Fadaka described Oni and Mimiko as birds of identical plumage, alleging that they are both out to achieve their selfish goals. The statement reads: “Since the advent of this republic, both of them have been associated with every administration deeply. While Mimiko had always been in government, Oni had always been a big wig and mostly a cosmetic handler. “Both of them have always betrayed their benefactors, Mimiko on the basis of chasing his insatiable and inordinate ambitions and Oni always crying for more patronage, and like the proverbial Oliver Twist, continually asking for more in all instances. Whenever he is no longer obliged, he looks for the next train to join. “Thus it is of absolute importance for the people of this state to take due cognizance of their antecedents and refuse to associate with them and whatever party may chose to give any of them accommodation. “It is obvious that the LP is a crumbling edifice that will most certainly disintegrate in a couple of months. The PDP will not accommodate them. “Both Oni and Mimiko have questions to answer on how the several billions that Agagu left behind and the ones that accrued since the administration of Mimiko began have been managed to the level that we are now a debtor state.” Fadaka urged the electorate to always examine the antecedents of politicians carefully before supporting them.

Ajimobi hailed on salary increase HE Public Service Joint Negotiating Council (PSJNC) has praised Oyo State Governor Abiola Ajimobi for approving the N13,000 parity pay, which cuts across

board. The council, in an appreciation letter to the governor dated August 12, said Ajimobi’s gesture has further endeared him and his administration to the workforce. It promised that workers would be dedicated to their jobs. “We shall join hands with Your Excellency to identify areas of leakages in the generation of Internally Generated Revenue (IGR) and block them collectively,” the council said. PSJNC said it was looking forward to the speedy completion of negotiations on the N18,000 minimum wage.

Ogun votesN50m for rural projects From Hakeem Quadri, Ijebu-Ode

HE Ogun State Government has approved N50 million for community projects. The money will be given to community development associations to aid their projects. Commisioner for Community Development and Co-operative Chief Samuel Ayedogbon stated this during the Community Development Council meeting at Obafemi Owode Local Government Secretariat. Ayedogbon, who was represented by the permanent secretary, Mr. James Orebanjo, said Governor Ibikunle Amosun has also approved the disbursement of N25 million to the State Co-operative Federation (OGSCOFED) as revolving loan to co operative societies at a seven per cent interest rate.

•Lagos State Governor Babatunde Fashola (right) talking to the youngest member of the Ansar-Ud-Deen Society of Nigeria, Lagos Branch, Muheez Alade Aromire, during the 2011 Ramadan Tafsir organised by the society at the Blue Roof Hall, LTV 8, Agidingbi, Ikeja, Lagos...yesterday

Daramola’s killers will be exposed, says Fayemi HE Ekiti State Government has said it would expose the killers of a former politician and World Bank consultant, Dr. Ayodeji Daramola, who was murdered at his Ijan Ekiti country home on August 14, 2006. Governor Kayode Fayemi spoke on Friday during the Fifth Memorial Lecture in honour of the late Daramola,

From Sulaiman Salawudeen, Ado Ekiti

held at the Government House in Ado Ekiti, the state capital. The lecture, entitled: “Icon of community development,” was delivered by human rights lawyer Femi Falana. Fayemi said: “We as a government are committed to the

course of justice, that those who perpetrated the killing of Dr. Daramola will, sooner than later, be brought to the altar of justice.” He lamented that five years after the killing, the perpetrators were still walking about freely. Falana urged the government to, “as a matter of urgency, begin the prosecution

of Daramola’s killers.” He said students should be made to write projects on Daramola’s contributions to community development and its studies. Falana accused former President Olusegun Obasanjo of aiding criminality in the state during the ousted-administration of Mr. Segun Oni.

THE NATION MONDAY, AUGUST 15, 2011

NEWS Tension over DESOPADEC appointment From Okungbowa Aiwerie, Asaba

A group under the aegis of Coalition of Gbaramatu and Peoples Democratic Party (PDP) Leaders, at the weekend, urged the legislature not to clear a nominee for the board of the Delta State Oil Producing Areas Development Commission (DESOPADEC), Kingsley Otuaro. In a petition made available to The Nation, the group threatened violence, if Otuaro’s name is not withdrawn.

Editor loses father CHIEF Ademola Adebowale, a printer and paper merchant, is dead. He died in his house in Mende, Maryland, Lagos on July 20. The deceased had his root in Ijebu Ode, Ogun State. He was born on January 20, 1919 in Ijebu Ode. He relocated to Lagos 72 year ago and was among the first set of Nigerians to own a printing press set up in the 1950s. He held the traditional title of Odofin of Mende. The late Chief Adebowale is survived by seven children including Yemi Adebowale, an Editor with THISDAY, The Saturday Newspaper. He will be buried in Lagos on September 9.

SEC appeals judgment on Okereke-Onyuike

HE Securities and Exchange Commission (SEC) has appealed a judgment, restraining the Economic and Financial Crimes Commission (EFCC), the Inspector General of Police and the Lagos State Police Commissioner from arresting former Director General, the Nigerian Stock Exchange (NSE), Prof Ndi Ok-

By Eric Ikhilae

ereke-Onyuike. Justice Ayotunde Phillips of the Lagos High Court had, in the judgment delivered in July this year, declared that no court of law has the powers to restrain any statutory body from performing its statutory responsibilities.

The judgment was on a fundamental rights enforcement application by the exNSE boss. The court held that such power as it relates to OkerekeOnyuike could not be exercised without the EFCC and IGP first establishing that she has committed a crime, adding that it was fundamental that security agencies must

establish reasonable suspicion against a suspect before effecting arrest. In its notice of appeal filed at the Appeal Court, Lagos, SEC argued that the judge erred by granting reliefs against it when there was no credible evidence before it proving that it had done anything that violated or threatened to violate

‘Akpabio’s not developing Akwa Ibom’

Police recover human head in Delta

ELTA State police command at the weekend recovered the head of Mrs. Trust-ere College who was decapitated on July 30 at Bomadi by a suspected assailant near her farm land. The head was said to have

From Polycarp Orosevwotu, Ughelli

been discovered by the State Criminal Investigation Division (CID) and the Joint Military Task Force (JTF) with the assistance of a suspect, Mr. Friday Yobolo.

A lawyer to the deceased’s husband, Mr.Opukiri Ekiobi, urged the police to do a thorough job and bring those behind the act to book. The spokesman of Delta State Police Command, MR. Charles Muka confirmed the recovery of the missing head.

HOS, Customs boss for awards

EVEN professionals who have contributed to environmental protection in Nigeria in various ways are to be honoured by the Institute of Environmental Accountants at a ceremony scheduled for the Sheraton Hotel and Towers, Abuja on August 25. Registrar/CEO of the Institute, Mr Olusegun Lawal said at a press briefing in Lagos on Thursday that while the Head of Service, Prof Oladapo Afolabi will be named the Environment Man of the Year 2011, the Comptroller

By Kofoworola Belo-Osagie

General of Customs, Alhaji Abdulahi Inde Dikko will be conferred with the Distinguished Fellowship Platinum Award. The event will be chaired by the Secretary to the Government of the Federation, Chief Anyim Pius Anyim, while others to be conferred with Honorary Fellowships of the Institute are: Prof Nicholas Damachi, Permanent Secretary, Federal Ministry of Education; Ms Anne Ene-Ita, pio-

neer Director, Enivronmental Services, Federal Ministry of Niger Delta Affairs, now Permanent Secretary, Federal Ministry of Aviation; and Dr Ngeri Benebo, Director-General, National Environmental Standard and Regulations Enforcement Agency (NESREA).

Okereke-Onyuike fundamental rights. SEC prayed the appellate court to set aside the judgment, arguing that though the ex-NSC boss alleged “serious threat” to her life, movement and property, in her affidavit, there was no evidence proving any act on the appellant’s part suggesting that it wanted to arrest her.

From Kazeem Ibrahym, Uyo

•Akpabio

HE Action Congress of Nigeria yesterday said Governor Godswill Akpabio has not developed Akwa Ibom State. ACN State Chairman, Dr. Amadu Attai, spoke in Uyo, the state capital at the weekend.

Attai explained that the so called “uncommon transformation” of Akpabio’s administration only occurred to the people in thought and the people wished they could grab it to better their lives but such is with no physical presence. He explained that despite the huge resources of the state the people still wallow in poverty . The chairman said the state government is only interested in undertaking projects with no direct impact on the electorate.

Delta probes Shell, Chevron over tax remittances

HE Delta State Board of Internal Revenue (DBIR) has ordered an investigation into tax remittances by two multinational oil companies, Shell Petroleum Development Company (SPDC) and ChevronTexaco. The Executive Chairman of DBIR, Joel-Onowakpo Thomas, announced this in Warri at the weekend. He said the investigation is to unravel the dwindling payment of taxes by SPDC and Chevron, and

From Okungbowa Aiwerie, Asaba

warned that the full weight of the law will be applied, should they be found wanting. Thomas said the investigation is part of efforts to increase the state’s revenue. He said: “SPDC, especially, has not been paying its due tax. For the past three to four months, Shell payment of tax has been dwin-

dling. We have called for tax investigation into the activities of SPDC. They have deliberately prevented us from having access to their records for very flimsy excuses. We in BIR know what they are up to. We will only advise them to keep postponing so that they can have enough time to perfect their records and they should also not forget that there is a limit to obstructing duly authorised officers of the Board.”

THE NATION MONDAY, AUGUST 15, 2011

NEWS Anambra police kill man over N20 From Nwanosike Onu, AwKa

HERE is tension in Agulu in Anambra Local Government of Anambra State over the killing of a motorcyclist by a police officer at the weekend. An eye witness said the man was shot dead by a police sergeant on Saturday after he refused to allegedly bribe the policeman with N20 at the Nwagu junction in Agulu. About five persons, who were allegedly injured by stray bullets, had been taken to the hospital. Following the development, youth in the community burnt down the police station at Agulu. Police spokesman Emeka Chukwuemeka confirmed the incident yesterday, saying the motorcyclist did not obey the order of the police officers at the checkpoint. He, however,decried the loss of life. Chukwuemeka described the place where the incident took place as a flash point and a link road to several communities. He said the command was investigating the matter, adding that the erring police officer would be given departmental trial, dismissed and charged with murder.

Sacked NLC secretary Odah rejects N8m ‘terminal benefit’ By Dupe Olaoye-Osinkolu

HERE appears to be no end in sight to the internal crisis rocking the secretariat of the Nigeria Labour Congress (NLC), as the sacked General Secretary, Comrade John Odah has rejected its ‘terminal benefit’. Rejecting the N8, 471, 870.00 ‘terminal benefit’, Odah in his letter dated August 9, and addressed to the NLC President, Abdulwahed Omar, described the money, which was paid into his Zenith bank account on July 14, as ‘strange’ because there was no letter from the NLC, explaining what the money was meant for. Odah’s lawyer, P.A Akubo (SAN), lawyer to John Odah, has given the NLC an ultimatum to reinstate Odah as substantive General Secretary of the NLC or face court action. The letter reads: “I became aware of this payment when I asked the Zenith Bank for my statement of account for the month of July 2011. I have not received any correspondence from the NLC since this strange payment was made into my account over three weeks ago. I can, however, surmise that this payment is in furtherance of actions to give effect to the purported termination of my appointment as General Secretary of NLC, which you communicated to me in your May 24 letter.” Odah said his letter to Omar rejecting the termination of his appointment and another 112 pages memo to the National Executive Council (NLC) pleading to be given a fair hearing are pointers to the non-conclusion of the termination saga.

•Enugu State Governor Sullivan Chime (middle) with permanent secretaries after their swearing in at the Government House, Enugu …….at the weekend PHOTO: OBI CLETUS

‘Fed Govt must stop extra-judicial killings’

AGOS lawyer and rights activist Femi Falana has said the Federal Government encourages extra-judicial killings. Falana spoke yesterday at Jibowu Hall, Ado Ekiti, at the fifth Memorial anniversary of Dr Ayo Daramola, a World Bank consultant and a governorship aspirant murdered by assassins on August 14, 2006. Falana alleged that the Federal Government has abdicated its responsibility of protecting lives and property of the citizens. Falana lamented the rot in the judiciary that has caused cases of extra-judicial killings to linger on almost endlessly. The lawyer said it was no

From Sulaiman Salawudeen, Ado Ekiti

longer possible to predict outcomes of judgments based on the merit or lack of it of such cases. The Lagos lawyer urged Federal Government to address past wrongs and bring the culprits to book. He said Hamza al-Mustapha’s blackmail of Yoruba leaders was a ploy to divert attention and tarnish his connection with the extra-judicial murder of Alhaja Kudirat, wife of the acclaimed winner of the June 12, 1993 presidential election, Chief MKO Abiola. He said security agencies have cases to answer for their

alleged compromise in the prosecution of those that were allegedly linked with incidences of extra-judicial killings. Wife of the late Daramola, Kehinde, who is now a Special Adviser to the Deputy Governor of the state and the Onijan of Ijan Ekiti, Oba Samuel Oyewole Fadahunsi, advocated the proper immortalisation of the slain politician . Falana said: “Mustapha is using diversionary tactics to distract Nigerians and take their minds away from all the offences he had committed against humanity. “I want the Judiciary to be

vigilant and rely heavily on the evidences given by Sgt Rogers Jabila that he committed some murder offences on the order of Maj. Mustapha.” Daramola , former General Manager, Ekiti Community Based Poverty Reduction Agency was gruesomely murdered by suspected assassins. Falana commended Governor Kayode Fayemi for honouring the slain ‘icon of community development’. “ It is the responsibility of the government to save lives and property, but when you have a president entirely

Suit to halt probe of scam in Diamond Bank dismissed A

LAGOS High Court has dismissed a suit to halt police’s investigation of some officials of Diamond Bank Plc linked with a multi-million naira fraud recently uncovered by the bank’s auditors. Fingered in the fraud uncovered few days to the bank’s 20th anniversary celebration last month, are some officials of the bank’s Corporate Affairs and Account departments, most of who have since been fired. In a ruling on Friday, Justice Mojisola Dada dismissed an application by one of the bank’s contractors, Du-Jour Event Management Limited and its Managing Director,

By Eric Ikhilae

Olu Olowookere, seeking to halt the probe of the alleged fraud by the Police. Du-Jour and Olowookere had, in their fundamental rights enforcement application, accused the bank of procuring the police to harass and embarrass them over an alleged contractual dispute between them. They claimed the dispute was purely civil and not criminal to warrant Police’s investigation. They accused the respondents, which included the bank and the Inspector-

General of Police (IGP), of breaching their rights and prayed the court to restrain the respondents from further threatening to arrest or invite them for investigation over the issue. Justice Dada held that the application was without merit and dismissed it. The judge noted that the applicants did not dispute the bank’s claim that its petition to the police was against its staff and not the contractor. She upheld the argument by Muyiwa Abatan, lawyer to the bank, that Diamond Bank’s petition to the police was di-

rected against its staff linked to the fraud and not the contractor. The judge held that if the applicants were invited by the police in the course of investigation, such invitation did not amount to a breach of their human rights. Upholding the right of the police under the Police Act, to investigate criminal allegations, Justice Dada held that no court of law would grant an order, restraining a statutory body from performing its duties. The judge noted that if DuJour and Olowookere had nothing to hide, it was strange that they would seek to stop an investigation not directed at them.

lacked regard for sanctity of human life, you cannot but experience what you experienced during Obasanjo regime,”he said. The ceremony was attended by the Deputy Governor Mrs. Funmi Olayinka; Chief of Staff to the Governor, Mr. Yemi Adaramodu; High Chief Jide Awe; Prof. Foluso Okumadewa; The Onijan of IjanEkiti, Oba Samuel Fadahunsi; Editor of The Nation, Gbenga Omotoso; Editorial Board Chairman, Sam Omatseye and Chief Olusanya Daramola.

Famine in Somalia worrisome, says Jonathan

RESIDENT Goodluck Ebele Jonathan has expressed concern over the famine in Somalia, and pledged that Nigeria and the Economic Community of West African States (ECOWAS) would make appropriate responses at the August 25 pledging conference in Addis Ababa, Ethiopia. Jonathan spoke when former Ghanaian President and African Union (AU)High Representative for Somalia, Jerry John Rawlings, came to brief him on the situation in Somalia and seek his response to the conference.

Soyinka: Obasanjo is a script writer •Nobel laureate speaks at Ikeja Rotary President’s investiture

OBEL laureate Prof. Wole Soyinka has described former President Olusegun Obasanjo as a script writer and director of all affairs. Soyinka spoke yesterday in Lagos at the investiture of Ade Oyenekan as the 45 th president of Rotary Club of Ikeja District 9110, Nigeria, where he was guest speaker. He spoke on the topic The Impact of Exile on Home Video. He described former key political players to “movie directors and masters of Nollywood films that never took place. “To put originality to it, the actors don’t feature as living stars but as exiles, specifically the non-recallable exiles, who cannot comment on the chal-

By Nneka Nwaneri and Osas Robert

lenges of their roles in the videos . These stars are those the actor tried so hard to terminate prematurely. I liken it to my own experience because his film script never got me. How can the current Nollywood script, gripping the nation, be written by a 30 –year- old inmate?. He reinvented the video to his own satisfaction before and after the movie,” he said. Soyinka urged al-Mustapha to provide videos of how Dipo Dina and Abraham Adesanya were killed, since he claims to have videos of how Bola Ige was killed. The director tried to send actors like Abraham Adesanya prematurely into permanent exile. The God of luck was

with Abraham Adesanya, who kept acting till luck ran out on him. Bola Ige’s attempt to restore ‘power’ in the country was sabotaged by omnipotent Obj. So before we start crucifying al Mustapha, let’s check first the movie director. “The wicked have done their worst and should be brought to trial for their martyrdom. Unfortunately, I might not be there to witness it, “he said. Soyinka dedicated the lecture to his late friend, the late Tai Solarin. He said:“There are many forms of exile including terminal exile. There is the internal exile also called “Sidon look exile”. This form of exile could be read as the short term of all exiles. There is the

permanent exile, just like Bola Ige, MKO Abiola were sent on permanent exile. Internal exile is the passive type, watching the world go by. I have been trying to join that school, but since I can’t, soon I’ll join them in the grave. “Have their crimes been forgotten? Have they become like newborns? OGD, ex Ogun State Governor was God written upside down. And his presence as God Almighty was felt in Ogun State by sneaking in a minority speaker, shutting down the House of Assembly, dismissing the majority and passed over 20 bills in two hours, and of course you know the lion took the lion’s share. Power is pranks, authority is enduring. Authority without power is nothing. Without

power, authority validates itself. There is still life after power. Thus, we should look forward to a creative collaboration between him and his Kiliwood director, as they have kept the images of their videos for future blackmailing. “The essence of all what I am saying is that we should not lose hope in and out of exile. Creativity will continue in and out of exile. Don’t stop at just hearing from an individual’s imagination, Wale Adedayo’s Micro Seconds from death, was written by one of his collaborators. It has been taken up by kiliwood directors. It is a good documentary. The kiliwood video scripts were written after the video has been made.”

THE NATION MONDAY, AUGUST 15, 2011

NEWS Niger needs additional N300m to solve water scarcity

FTER spending over N3 billion in the last three years to improve water supply, the Niger State Government at the weekend said it needs an additional N300 million to provide water for Minna, the state capital. Addressing reporters in Minna, Commissioner of Water Resources, Hajiya Hadiza Abdullahi said the money is for a short-term plan to resolve water problem in the metropolis.

Suspected police impostor arrested in Kano •Woman held for alleged kidnap From Kolade Adeyemi, Kano

HE Kano State Police Command has arrested a man, Mustapha Mohammed, for allegedly impersonating a mobile police officer for two years. A walkie-talkie, a police identity card, a pair of police boots and a set of mobile police uniforms were reportedly recovered from him. Two police officers, believed to be his accomplices, have been arrested. Police Commissioner Ibrahim Idris paraded the suspects in Kano yesterday. He said the two police officers would be dismissed from the force and prosecuted. Idris stated that 13 other suspected criminals, believed to be terrorising the people of the state in the last couple of weeks, were arrested for various offences, ranging from armed robbery, car theft, drug peddling to acts of vandalism. The Police chief said one Uzairu Abdullahi and three others were apprehended for being in possession of 11 NITEL cables valued at N2 million. Among the arrested suspects, is a woman, suspected to have kidnapped three children between the ages of three and six. The Police Commissioner, who gave the name of the woman as Asabe Mohammed, an indigene of Markarafi in Kaduna State, said the police had commenced investigation into her case. He said special security operations would be intensified throughout the Ramadan period to check the activities of criminals. This, he said, was to ensure a peaceful Sallah celebration. Assuring the people of the state of adequate security, Idris appealed to the public to cooperate with the police in ridding Kano State of criminals, noting that crime control and prevention is a collective responsibility.

‘PDP plans to cause confusion in Kwara’ HE Kwara State Ac•Party: It’s not true tion Congress of Ni-

From Jide Orintunsin, Minna

She said N80 million of the N300 million would go to the Power Holding Company of Nigeria (PHCN) for transformers and power switches to ensure regular power supply to water works. Hajia Abdullahi said water supply had been erratic because of unstable power supply for pumping water. She said: “If there is no light, water cannot be pumped.” According to her, the water board will need N25 million monthly to buy diesel for its generators as the generators consume 200 litres per hour. To have steady water

•Aliyu

supply, there is need to pump water for 12 hours, she added. Hajia Abdullahi noted that for the water problem to be effectively tackled, the communities have to report blockages of water lines and report cases of vandalism.

geria (ACN) has raised the alarm over alleged plans by some members of the ruling Peoples Democratic Party (PDP) to cause confusion in the state. In a statement, its Chairman Kayode Olawepo said: “We call the attention of the public and security agencies to the alleged plot by some members of the ruling PDP to sew and distribute to their thugs clothes with ACN insignia to unleash violent attacks on innocent citizens and cause confusion in Kwara State. We had twice written the Police Command and the State Security Services (SSS) on this evil development. “We have decided to raise the alarm because we are guided by experience.

From Adekunle Jimoh, Ilorin

Kwara PDP, in its crude politics that belongs to the Stone Age, is notorious for masquerading as members of the opposition party to carry out unlawful acts to give such party a bad name. “The experience of the late Muhammed Lawal (May God forgive his sins and grant him Al-Janah) in the hands of the PDP, is a case in point when PDP thugs spotted All Nigeria Peoples Party (ANPP) uniforms to attack innocent citizens. “We, therefore, wish to state that ACN and all its candidates, especially our governorship candidate, Mohammed Dele Belgore (SAN), are law-abiding and peace-loving. We will not

for any reason sponsor violent attacks on the people we seek to govern in accordance with the global best practices. We warn the PDP or whoever that wishes to cause confusion to desist from such devilish act.” PDP Publicity Secretary Isiaka Danmairomo said the allegation was baseless. He said: “It is untrue that some PDP members are planning to cause confusion across the state. It is only those who are evil-minded that will plan such a thing. PDP in the state is not known for thuggery. It is even alien to Kwara politics. We are using this medium to urge the security agencies to arrest anybody caught in such act.”

THE NATION MONDAY, AUGUST 15, 2011

NEWS ‘Jonathan can’t dialogue with sect members’

Security panel meets Kwankwaso, Bayero

EMBERS of the Presidential Committee on Security Challenges in the Northeast yesterday met with Kano State Governor Musa Kwankwaso for about an hour. They also met with the Emir of Kano, Alhaji Ado Bayero. The committee however, avoided reporters’ after their meeting with the governor at the Government House. Members included the Federal Capital Territory (FCT) Minister, Senator Bala Muhammed and his counterpart at the Ministry of Interior, Minister of Interior, Comrade Abba Moro. The committee members were said to be in Kano to discuss the security challenges posed by the religious sect and how to avert the spread of its activities. Besides its meeting with the governor, the panel also held talks with Deputy Governor Abdullahi Umar Ganduje and members of the Executive Council on how to resolve the

•Shuns reporters From Kolade Adeyemi, Kano

Boko Haram menace. Reporters had besieged the Government House after they learnt of the committees. But after they were introduced to Kwankwaso, the reporters were asked to leave the Governor’s Office, venue of the meeting. Efforts by reporters to interview the panel Chairman, Usman Gaji Galtimari, or any of the members, proved abortive. Immediately the meeting ended, members of the committee entered their vehicles left. At the Ado Bayero’s palace, the reporters again were prevented from the meeting, Members avoided reporters’ questions after the meeting with the emir. On the committee’s entourage in Kano were the Brigade Commander, 3 Motorised Brigade, Brig.Gen. Emmanuel Adejirin; Police Commissioner Ibra-

Nasarawa PDP donates items at Ramadan

HE Nasarawa State Peoples Democratic Party (PDP) at the weekend distributed 300 bags of rice, 250 bags of millet and 300 bags of sugar to fasting Muslims, mainly women and youths. The party’s Chairman Yunana Iliya said the items would assist the beneficiaries in breaking their fast. He urged Muslims to propagate peace during and after Ramadan. Though a Christian, Iliya urged Muslims to avoid religious intolerance among the residents, irrespective of their religion. Iliya said: “We are aware that some people are ready to foment trouble and blame it on members of

From Johnny Danjuma, Lafia

the PDP in the state because they know that we are about to reclaim our mandate. But let us not give them the opportunity to smear our image. Let us remain peaceful.” He said the food items would be shared among fasting Muslims to alleviate their hardship in the holy month. The party chair urged the residents to remain law-abiding. The beneficiaries expressed appreciation for the gesture. They praised Iliya and the party for remembering them during the fasting period.

Robbers kill The Sun reporter

RMED robbers on Friday killed the Sokoto State Correspondent of The Sun, Ahmed Oyerinde, on Koko-Yauri road, Kebbi State. He was 57. A statement yesterday by the Chairman and Secretary of the Sokoto State Council of the Nigeria Union of Journalists (NUJ), Labaran Lumo Dundaye and Bashir Rabe Mani, expressed shock over the death. The statement said Oyerinde had a successful Journalism career spanning 30 years. He worked at The Punch and ThisDay before joining The Sun. The late Oyerinde, who also had law degree, was reportedly travelling to his home town, Offa, Kwara State, to see his family. The statement reads: “His wealth of experience,

From Adamu Suleiman, Sokoto

piety, perseverance and doggedness would be greatly missed by his colleagues and the general public at large.” It expressed worry over rising insecurity in Nigeria, noting that there have been rampant cases of armed robbery, communal and religious crises, kidnapping, militancy and other forms of crimes across the country. The NUJ urged the authorities and security agencies to ensure the security of lives and property. It prayed God to grant the late Oyerinde eternal rest and his family the fortitude to bear the loss. He is survived by a wife and seven children. The late Oyerinde was yesterday buried in Offa according to Islamic rites.

him Idris; the State Director of State Security Service (SSS) and other members of the State Security Council. The Nation learnt that the committee was in the state to obtain first-hand information on how to mitigate the security challenges in the Northeast, particularly the Boko Haram menace. Though Kano is not one of the states with the presence of the religious sect, it was gathered that the committee was in Kano to gather information because of the ethno-religious diversity of the state. A source at the Government House, who spoke in confidence, told The Nation that “the committee deemed Kano crucial in

•Kwankwaso

view of its capacity to accommodate people of diverse socio-cultural and ethno-religious backgrounds”. The source said: “Members of the committee believe they can gather intelligence information from the state. They also believe that the security experiences of Kano can broaden their knowledge and enable them to handle their task from President Goodluck Jonathan.”

HE Bishop, Diocese of Anglican Church, Lagos Mainland, Rev. Adebayo Dada Akinde, yesterday said God would not allow President Goodluck Jonathan to dialogue with Boko Haram religious sect. The cleric spoke at the dedication service of the All Souls Anglican Church, Ilupeju, Lagos. He said: “We are calling on the President to rise up and work towards the restoration of peace and order in the country.” Akinde said since prayers had been said to seek God’s guidance for Dr Jonathan to protect the nation, he was convinced that God would not allow the President to dialogue with a seeming terrorist group. The occasion was also the fifth anniversary of the Diocese of Anglican Church, Lagos Mainland. Akinde noted that the President has the obligation to protect all Nigerians, irre-

By Joke Kujenya

spective of their religion and region. He said no group has the right to cause unrest among fellow Nigerians or other residents because of their beliefs. On the controversial Islamic banking, Akinde said God would thwart any move to shatter the nation’s peace. He added that Nigeria does not need any idea that would cause dissension in the country. Akinde said: “Now, the Church of God cannot be quiet anymore. The integrity of this nation has been compromised for too long. It is time we got together as Nigerians for the overall protection of the country we call our own.” The cleric noted that the world is in turmoil, adding that it behoves every Nigerian to turn to God with a sincere heart for God to heal the nation.

THE NATION MONDAY, AUGUST 15, 2011

BUSINESS THE NATION

E-mail:- bussiness@thenationonlineng.net

Nigeria has not done power load study at all. Through power load study on the power we use, we need to capture houses and industries. A study of such nature is more rigorous than the population study. It has to be thorough and done year after year. -Prof. barth Nnaji, Minister of Power

NIPOST to pay retirees

‘IPMAN to partake in greenfield refinery project’

…denies diverting funds From: Dele Anofi, Abuja

From John Ofikhenua, Abuja

HE Group Managing Director of the Nige rian National Petroleum Corporation (NNPC), Austen Oniwon, has offered the Independent Petroleum Marketers Association of Nigeria (IPMAN) the opportunity to partake in the greenfield refineries that are in the pipeline. A statement by the Group General Manager, NNPC Group Public Affairs, Dr. Levi Ajuonuma, in Abuja at the weekend, quoted Oniwon as assuring the association that the authority will support IPMAN to partake in the upcoming greenfield refineries now that there is unity in body. IPMAN President, Alhaji Aminu Abdulkadir, praised the NNPC boss for his determined efforts to settle the warring factions in IPMAN in the interest of the downstream sector. He said Oniwon’s intervention has successfully resolved differences that existed in the organisation. He said: “Since your intervention, we are now enjoying peace and stability in our operations and we cannot thank you enough,’’ assuring that the body will work round the clock to assist NNPC in policing its pipelines across the country since the body in now united and speaks with one voice.” He stated that IPMAN will strategise and support NNPC to curb the menace of pipeline vandalism. Oniwon assured that since peace has been restored in the body, NNPC would support the organisation to contribute its quota in the petroleum distribution axis.

DATA STREAM COMMODITY PRICES Oil -$109.7/barrel Cocoa - $2,856/metric ton Coffee - ¢132.70/pound Cotton - ¢78.07.pound Gold -$1,161/troy ounce Rubber - ¢146.37/pound MARKET CAPITALISATIONS NSE JSE NYSE LSE

-N7.3 trillion -Z5.112trillion -$10.84 trillion -£61.67 trillion

RATES Inflation -10.2% Treasury Bills -2.64% Normal lending -24% Prime lending -18% Savings rate -3% 91-day NTB -6.99% Time Deposit - 6% MPR -8% Foreign Reserve -$34.7bn FOREX CFA 0.281 • 213 £ 241.00 $ 150.7 ¥ 1.5652 SDR 240.3 RIYAL 39.3

• MD, Guaranty Trust Bank, Mr Segun Agbaje (left), in a hand shake with Oyo State Governor, Abiola Ajimobi, during an official visit to the governor in his office at the weekend.

Nigeria to lose $3b yearly to PIB passage, NEITI warns • Passage of bill portends economic danger

HE Nigeria Extractive Industry Transparency Initiative (NEITI) has warned that Nigeria will lose $3 billion petroleum revenue yearly if the National Assembly passes the Petroleum Industry Bill (PIB) as amended by law makers. NEITI said the limit of government’s share of oil revenue being set by the House of Representatives is below internationally competitive rates, as such, it would result in the erosion of government petroleum revenue In a statement yesterday in Abuja, NEITI stated: “Sadly, the House of Representatives Report establishes fiscal terms with a government share of oil revenue below internationally competitive levels and with a structure that will result in rapid erosion of government petroleum revenue during the next five years.” It pointed out that under current rates, government’s share of revenues stand as

From John Ofikhenua, Abuja

follows: Production Sharing Contract (PSC), 48 per cent; Joint Venture (JV), 82 per cent while international rates of government’s share of oil revenue hovers at a minimum of 56 per cent and a maximum 90 per cent. But the House of Representatives proposal, which is the subject of NEITI’s contention, provides for a maximum of 45 per cent of government’s revenue for PSC and 60 per cent for JV, as against the existing 48 per cent and 82 per cent. The extractive industry watchdog noted that the downgrade, “translates to a loss of about $3 billion annually,” stressing: “This is dangerous to our already fragile economy that is oil revenue dependent.” NEITI said it made the urgent call on the Federal lawmakers for protection of the national interest in the ongoing PIB debate by the National Assembly because it

appears that some crucial facts and data were either not presented to the members or if made available, were not thoroughly understood by them to enable them to make informed decisions on the PIB. It further submitted: “For instance, NEITI does not see the rationale for passing a Bill that is designed to reduce government’s revenue from petroleum operations by minimum of $3 billion annually through fiscal provisions.” While commenting on the Senate’s position, NEITI said the report on the provisions of the upper chamber on fiscal regime, will also have the effect of reducing the government’s revenue from the sector during the next five years. The agency said: “The picture for revenue flow to Nigeria from royalty, profit and oil, will be as follows: Current terms $9 billion; PIB terms as presented by the Federal Government during

Public Hearing in 2009-$9.3 billion; Senate terms $5.8 billion.” Continuing, the statement warned: “NEITI is, therefore, of the view that if the NASS passes the bill as it is now, the Nigerian oil and gas sector will be in serious danger of not achieving the desired national goals of promoting greater indigenous participation and increased revenue generation for national development. “In view of the fact that oil is the mainstay of the Nigerian economy, the NASS owes all Nigerians a responsibility to promote Nigeria’s interest in the bill, protect our corporate sovereignty and secure the future of generations yet unborn. The Report of the PIB now before the NASS, if passed into law, will do havoc to Nigeria’s national interest.” NEITI, according to the statement, promised to appear before the lawmakers with data to validate its position.

Power: Operation of bulk traders begins this week, says Minister

HE Federal Govern ment will this week operationalise the bulk power traders in the country, the Minister of Power, Prof. Barth Nnaji, has disclosed. As enshrined in the Power Roadmap, this means that the distribution companies sign a power purchase agreement that will serve as their sovereign guarantee since they are ordinarily not credit worthy. Nigeria produces an average of between 3,400 and 3,500 megawatts. But the government is targeting 6,000 megawatts generation capacity by end of the year.The move is to provide a struc-

• Distribution firms not credit worthy From John Ofikhenua, Abuja

ture that will result in the achievement of President Goodluck Jonathan’s power transformation agenda, Nnaji said, adding : “It is not all about money. It is really the structure with which things will work.” According to the minister, who spoke at his retreat for Senior Management Staff of the ministry in Abuja, the operationalisation has become necessary because “no distribution company in Ni-

geria can claim to be credit worthy.” The minister, however, noted that the capital required in the power sector transformation is enormous and the Federal Government cannot fund even its fraction. He explained that the operationalisation can now transform them “so that they don’t go to government to help it pay its bill.” His words: “No distribution company can claim to be credit worthy. The issue is, how we can transform them so that they don’t go to government to help pay

bill? By next week (this week) a number of issues will be resolved. The issue of the bulk trader will be resolved. The tariff will be resolved. The operationalisation of the bulk trader will be done this week. “When we operationalise the bulk trader, we will have an off-taker for the Power Holding Company of Nigeria (PHCN),” he said. This, said the minister, can now provide a sovereign guarantee for the trader that goes to the Federal Government record because the country’s rating is measured in line with the debt it is carrying. To create a credit worthy status for the distribution companies, Nnaji said.

IGERIAN Postal Ser vice (NIPOST) says it will pay its pensioners their entitlements before the end of the week. The pensioners had protested their unpaid entitlements worth over N2.5 billion. Also, while dispelling insinuations that the fund meant for settling the debt was diverted, the Postmaster-General, Mallam Ibrahim Mori Baba, disclosed that the government has released the Authority to Incure Expenditure (AIE) that would enable the organisation to withdraw the money from the Central Bank. Baba, who was represented at a briefing in Abuja over the weekend by the Acting Public Affairs Manager, Mr Taiye Olaniyi, however, denied that the management of NIPOST diverted the funds that were meant for the payment of the severance benefits and pension arrears of the retirees. He said: “In the last four years, NIPOST management has been supporting the retirees through internally generated revenue. For example, N236, 107,603.03 was sourced internally to defray pension arrears from August 2008 to February 2009 while N36, 671, 867.64 was used to pay for March 2009.”

Transcorp gets acting CEO

RANSNATIONAL Cor poration of Nigeria Plc (Transcorp) has appointed Mr Manz Denga, asActing Chief Executive Officer. He replaces Mr Nicholas Okoro who resigned. Denga has banking experience spanning two decades. He was until December 2010, Managing Director of UBA Kenya. Prior to that, he spearheaded the bank’s start up operations in Cameroun, Uganda, Tanzania and Zambia. Denga is a graduate of Harvard Business School’s Advanced Management Programme. He holds a B.Sc. in Accounting and an MBA, from the University of Calabar. The appointment of Mr. Denga comes on the heels of renewed investors’ confidence in the company and expectations of improved operating performance. Earlier this year, Heirs Holdings acquired a strategic stake in Transcorp. Heirs Holdings, an African investment company led by Tony O. Elumelu, pledged then to work with the Transcorp board and other shareholders to turn around the fortunes of the company, to fulfill the company’s mission.

THE NATION MONDAY, AUGUST 15, 2011

BUSINESS NEWS Flight Schedule

ASSBIFI urges govt to nationalise more banks

MONDAY - FRIDAY LAGOS – ABUJA Departure Arrival 1. Aero 06.50 08.10 2. Associated 07.00 09.30 3. Air Nigeria 07.00 08.20 4. IRS 07.00 08.20 5. Dana 07.02 08.22 6. Arik 07.15 08.15 7. Chanchangi 07.15 8. Air Nigeria 08.15 09.35 9. Dana 08.10 09.20 10. Aero 08.45 10.05 11. Arik 09.15 10.15 12. Chanchangi 10.00 11.00 13. IRS 11.15 12.35 14. Dana 12.06 12.26 15. Aero 12.20 13.30 16. Air Nigeria 13.25 14.45 17. Chanchangi 13.30 14.30 18. Arik 13.45 14.45 19. IRS 14.00 15.20 20. Aero 14.10 15.30 21. Air Nigeria 14.50 16.10 22. Dana 15.30 16.50 23. Chanchangi 15.30 16.30 24. Arik 15.50 16.50 25. Aero 16.00 17.20 26. IRS 16.30 17.50 27. Arik 16.50 17.50 28. Dana 17.10 18.30 29. Chanchangi 17.30 18.30 30. Air Nigeria 17.35 18.55 31. Air Nigeria (T/TH) 18.30 19.50 32. Arik 18.45 19.45 33. Aero 19.20 20.40 1. 2. 3. 4. 5. 6. 7. 8.

LAGOS – BENIN Arik 07.30 Associated 08.30 Aero 10.50 Arik 11.45 Associated 13.00 Aero 14.25 Arik 15.30 Associated 16.00

1. 2. 3. 4.

Arik Aero Arik Aero

1. Arik 2. Aero 1. 2. 3. 4.

LAGOS – CALABAR 07.30 11.20 12.50 16.00 LAGOS – JOS 10.55 11.15

LAGOS – KADUNA Aero 08.00 Chanchangi 10.00 Arik 10.00 Arik 15.10

08.30 09.10 11.50 12.45 13.40 15.20 16.30 16.40 08.50 12.40 14.10 17.20 12.15 12.45 09.10 11.00 11.10 16.20

LAGOS – PORT HARCOURT (CIVIL) 1. Aero 07.15 08.35 2. Arik 07.15 08.35 3. Arik 09.00 10.20 4. Dana 09.27 10.40 5. Aero 10.50 12.30 6. Arik 11.40 13.00 7. Air Nigeria 12.00 13.10 8. IRS 13.30 15.00 9. Arik 14.00 15.20 10. Dana 15.03 16.20 11. Air Nigeria 16.00 17.10 12. Arik 16.10 17.30 13. Aero 16.15 17.30 14. Arik 17.10 18.30 1. 2. 3. 4. 5.

LAGOS – OWERRI Aero 07.30 Arik 07.30 Air Nigeria 13.40 Arik 14.00 Arik 16.30

08.40 08.40 14.55 15.10 17.40

1. 2. 3. 4.

Arik Aero Arik Aero

LAGOS – WARRI 08.15 11.50 11.55 14.55

09.1 12.50 12.55 15.55

1. 2. 3. 4. 5. 6.

LAGOS – KANO Air Nigeria 07.10 IRS 08.00 Dana 08.10 Arik 12.20 IRS 14.00 IRS 18.15

08.50 09.45 09.40 14.00 15.45 19.55

LAGOS – OWERRI 07.20 14.00 16.30

08.30 15.10 17.40

LAGOS – UYO 10.35

11.35

1. Arik 2. Arik 3. Arik 1. Dana 1. IRS 2. Arik

LAGOS – MAIDUGURI 11.15 13.15 15.50 18.00

LAGOS – ILORIN 1. Overland 07.15 2. Arik (M/T/TH/F) 17.30

08.00 18.00

LAGOS – ABUJA SAT/SUN Arik 7.15; 10.20; 2.20; 5.20pm – 7.30; 9.15; 10.20; 2.20; 4.50; 6.45 Aero 07.30; 09.35; 13.10; 14.50; 20.20 – 07.30; 09.35; 13.10; 14.50; 20.20 Air Nigeria 08.15; 14.30; 17.15; 18.30 – 08.15; 13.30; 14.30; 17.15; 18.30

ENIOR bank workers, at the weekend, expressed concerns with the state of over five banks. He urged the government to nationalise them. It listed the five banks as include Intercontinental, Oceanic, Union, Equitorial Trust Bank and FinBank. The workers under the aegis of Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI), supported government’s action on the nationalisation of three of the eight rescued banks. Its National President, Comrade Sunday Olusoji Salako, said it cost about N600 billion to recapitalise Intercontinental Bank alone. The association’s leadership assured the over 11,000 employees of the nationalised banks of their jobs. The three banks were recently nationalised, paving way for Mainstream Bank taking over Africbank; Keystone Bank Bank PHB and Enterprise Bank. Springbank Plc.

By Dupe Olaoye-Osinkolu

ASSBIFI described the move as wise. Salako said the union weighed the development to know the impact on parties involved, especially the workers. He said: “In the past, it would have been outright liquidation. In outright liquidation, it means all the three major stakeholders, comprising workers, customers and the shareholders will lose. There will be no workers, no shareholders and there will be no depositors because NDIC will come in and wind up the entire business as we had in the past.” The ASSBIFI chief noted that what the regulators had done was to ensure that no stakeholder loses. ‘’When we talk about shareholders, it includes the workers too,’’ he added. According to him, the association was happy because ‘’we have realised that the workers’ jobs are intact. In all the three banks, we have about 11, 000 workers. If you

multiply that by the number of people an individual worker feeds, then we’ ll be talking about 100, 000 mouths or more. Frankly, by this exercise, people have been saved the agony of looking for food to eat, as jobs of their benefactors would have been claimed.” The ASSBIFI boss explained that apart from the government, the highest employer of labour is the banking sector, and that it remains the driver of the nation’s economy. “So, if we allow the sector to remain unchecked, to continue to witness the kind of carnage, it is witnessing before we apply the right medication, then we will be toying with the economy.” Salako added that the exercise shew that the government followed its blueprint on job creation, adding that it would not have been funny if at a time when government claimed it wanted to create jobs, people are losing theirs. “That would have meant a policy somersault,” he stated.

‘Nigeria spent N1.1tr annually on food imports’ M

INISTER of Agriculture and Rural Development, Dr. Akinwumi Adesina, said Nigeria is one of the largest food importers in the world with N64billion spent on food import last year. Adesina stated this at the cassava revolution forum at the International Institute of Tropical Agriculture (IITA), Ibadan over the weekend. This year, Adesina said Nigeria has spent N635 billion on the importation of wheat; N356 billion on rice; N217billion on sugar and N97 billion on fish imports. According to him , the nation is spending close to N1.8billion daily on wheat and N1billion on rice importation. Adesina while unveiling the Federal Government’s plan for agricultural transformation, said the new administration was committed to implementing the substitution of high quality cassava

By Daniel Essiet

flour for wheat flour, along with other cereals to save the billions of Naira being spent on the importation. He also said the government would support the use of cassava to meet the growing demand for high quality fructose cassava syrup for soft drinks and sweetener industry, and reduce the high cost of import of sugar. “This would replace, just for nine bottling plants, an equivalent of 75,000 tons of sugar, equivalent to 300,000 tons of fresh cassava roots. “Second, the use of cassava under the E-10 policy for blending 10 per cent ethanol into petrol will produce one billion litres per year of ethanol. If 30 per cent of cassava was used, this alone would translate into a raw material equivalent

of two million tons of cassava roots,” he explained. For rice, sorghum, tomatoes, maize, cocoa and other agricultural crops; the minister said the plan was to strengthen the value chain and accelerate productivity. He assured farmers of his support, and called on stakeholders to join hands to ‘Grow Agriculture.’ Consumed by millions of Nigerians, cassava has transited from being a ‘poor man’s crop’ and is now an important industrial crop that provides starch and other products for confectionery, sweeteners, glues, plywood, textiles, paper, biodegradable products, monosodium glutamate, and drugs. Cassava chips and pellets are used in animal feed and alcohol production. “Investing in value chain development would ensure food security and jobs,” said IITA DirectorGeneral,Dr. Peter Hartmann.

Bauchi, US firm to establish cement factory By Austine Tsenzughul, Bauchi

HE Bauchi State government has signed a Memorandum of Understanding (MOU) with a United States construction gaint, C& C International, Florida, to establish a cement company. Speaking at the signing ceremony at the Government House at the weekend, the state Governor Isa Yuguda represented by his deputy , Sagir Aminu Saleh, assured that ’’Bauchi State Government will fullfil its obligation as contained in the MOU’’. He reiterated his government’s resolve to provide security to the company and the state, during the construction of the cement factory. The company is to occupy 35 square kilometres that will house its plant, a staff estate and social facilities. The Commissioner for Commerce Alhaji Muhiru Mai-Wada signed for the government, while MrAlfredo Artega Jnr., Director, Technical Coordination and Principal Engineer, signed for C & C International. The ceremony was also witnessed by Mr Suraj Adebisi, Chairman Crexent Nig.Ltd, a subsidiary of C&C International. The company, to be known as Bauchi-Gwana Cement Company (BGCC) in Alkaleri Local Government Area of the state,when operational, will be the second cement company in the Northeastern Nigeria,after Ashaka Cement company at Ashaka in Gombe State. The project, floated under Public Private Partnership (PPP), will have a production capacity of 1.5 million metric tons of cement yearly. The PPP arrangement has a total cost of $250 million through direct funding. About $150milion is earmarked for construction, while the balance will be for the provision of infrastructure. In a speech at the event,Mai-Wada noted: ‘’The cement project will open more doors for investors in gypsum,coal,the oil and gas being explored,and other abundant minerals in the state.’’ The Commissioner informed that, the initial capital of BGCC Ltd N50, 000,000:00 divided into fifty million Naira ordinary shares of one Naira each.

• From right: CEO, H. Pierson Associates Ltd, Mrs Eileen Shaiyen; CEO, G-Stat Isreal, Ephraim Goldin and a risk expert with G-Stat Israel, Shamir last week

Okonjo-Iweala to resume this week

ORMER World Bank managing director Dr Ngozi Okonjo-Iweala will arrive in the country to be sworn in as Finance minister this week, the Presidency said yesterday, a month after the rest of President Goodluck Jonathan's cabinet was announced. Okonjo-Iweala, who has held the Finance portfolio before, flew to Nigeria to be screened by the Senate for a position in Jonathan's cabinet last month, but then returned to Washington to finish her work with her fomer employers. "I can confirm that the Finance minister will resume duties this week," presidential spokesman,

Reuben Abati, told reporters at the Presidential Villa. Jonathan was sworn in for his first full term on May 29 and named the majority of his cabinet more than a month later. OkonjoIweala would be the most highprofile member of his team and key to the future of Africa's thirdlargest economy. Sources close to the process say Okonjo-Iweala has negotiated for an expanded role, likely to be Co-ordinating Minister for the Economy and Finance. She held the finance minister position between 2003 and 2006 when she successfully secured Nigerian debt relief.

Africa's most populous nation faces a long list of hurdles, not least opaque government spending, rampant corruption, import dependence, and the need to tame double-digit inflation while creating jobs and building infrastructure. Okonjo-Iweala said last week that Nigeria needed to make fundamental changes to diversify its economy, to reduce its over-reliance on crude oil exports. During her previous tenure she stepped on some toes and investors are watching closely to see how she operates alongside an existing set of reformers, includ-

• Okonjo-Iweala

ing the influential Central Bank Governor Lamido Sanusi.

THE NATION WEDNESDAY, AUGUST 17, 2011

ISSUES

CBN draws curtain on intervened banks Yet to recover from the black Friday of August 14, 2009, the financial sector got another kick penultimate Friday after the Nigerian Deposit Insurance Corporation (NDIC) revoked the licences of three intervened banks Spring Bank, Afribank and BankPHB. This may have put an end to the two-year reform introduced by the Central Bank of Nigeria (CBN) write AYODELE AMINU and COLLINS NWEZE.

HE nationalisation of the three intervened banks on August 5 (penultmate Friday), has closed the circle on a two-year process that started when the Central Bank of Nigeria (CBN) commenced its reforms. On 14 August 2009 the CBN under the leadership of Sanusi Lamido Sanusi stepped in to remove the first five bank CEOs (Afribank, Oceanic, Intercontinental, Finbank and Union) following its special audit of the sector. About a month later, the Managing Directors of BankPHB, Equitorial Trust Bank (ETB) and Spring Bank were given same treatment with a total of N620 billion injected to recapitalise 10 institutions. On 5 August 2011, the CBN took decisive action by withdrawing the banking licences of three (Spring Bank, BankPHB and Afribank) of the eight intervened banks, and effectively nationalised them by getting the Asset Management Corporation of Nigeria (AMCON) to recapitalise and manage them for the next two-to-three years, until potential new investors are found. The managements of the banks, including their Chief Executive Officers, were relieved of their jobs. New appointees replaced them almost immediately. Having come under new ownership, the three banks received N679 billion lifelines from AMCON and had their brand names changed to Mainstreet Bank (Afribank), Keystone Bank (Bank PHB) and Enterprise Bank (Spring Bank). MainStreet Bank received N285 billion to bring it to over 15 per cent capital adequacy and a minimum of N25 billion capital base; Keystone Bank

• CBN Governor, Lamido Sanusi

Rundown of events leading to August 5, 2011 1 June 2009

–

Sanusi Lamido Sanusi appointed as CBN governor.

14 August 2009

–

Result of first special audit released, and five bank CEOs removed.

2 October 2009

–

Result of second special audit released, and three more CEOs removed.

15 February2010

–

CBN undertakes fresh audit of banks.

30 June 2010

–

CBN extends recapitalisation deadline for Wema and Unity.

19 July 2010

–

President Jonathan signs AMCON bill into law.

31 December 2010

–

AMCON purchases first set of NPLs from the banks.

2 June 2011

–

CBN sets 30 September as recapitalisation deadline for intervened banks.

July 2011

–

Finbank, Intercontinental Bank, Union Bank and Oceanic Bank sign TIAs.

5 August 2011

–

CBN and NDIC announce the nationalisation of Bank PHB, Spring Bank and Afribank.

secured N283 billion while Enterprise Bank got N111 billion. The regulators were said to have weighed the impact the unresolved banks are likely to have on the economy and decided a timely action was required. Mergers and Acquisitions lawyers close to the transactions said that given the processes required to consummate a deal, it was impossible for any bank, yet to sign a binding agreement to recapitalise before the deadline for the withdrawal of CBN guarantee, a lifeline that has kept the banks in business since the intervention. The sceptre of a run on any bank that failed to meet the deadline and the impact of such on the system must have informed the timing of the interven-

tion. This, according to Renaissance Capital, has brought down the curtain on the resolution process for the intervened banks. The final picture shows five (Oceanic Bank, Intercontinental Bank, Finbank, ETB and Union Bank) of the eight signing transaction implementation agreements (TIA) with new investors. Two others - Unity Bank and Wema Bank have since recapitalised. CBN explains CBN Deputy Governor, Financial System Stability, Kingsley Moghalu, however said the apex bank revoked the operating licenses of the banks weeks ahead of the September 30, 2011 deadline given them to recapitalise

or face either liquidation/ nationalisation because there was nothing on ground to show that they would attract investors before the expiration of the ultimatum. He explained that if they (banks) were left till the end of the deadline, they would have become “carcasses” as their financial health had deteriorated. This fact, he said, was known by operators of the inter-banks market. He noted that to ensure public confidence in them, the apex bank has extended inter-bank guarantee to them. AMCON’s role The Managing Director/CEO, AMCON, Mustafa Chike-Obi, said the acquisition and transfer of ownership has been effected through a subscription agreement with each of the three banks. By the subscription agreement, AMCON has become the owner of the three banks, and will provide sufficient capital to restore them to the level of capital adequacy stipulated by the CBN. Chike-Obi said the capital provided by AMCON will strengthen beneficiary banks’ liquidity positions to enable them meet their obligations to depositors. Consequently, the banks have since liquidated the loans obtained from the CBN in the first bailout carried out in August 2009. The liquidity positions of the banks are equally enhanced by CBN’s extension of their interbank obligations till December 31, 2011. The AMCON boss added that the Corporation will continue to evaluate its • Continued on page 14

THE NATION WEDNESDAY, AUGUST 17, 2011

ISSUES • Continued from page 13

strategic options and consider the optimal and timely exit strategy that maximises its returns. “AMCON expects that the action it has taken, in fulfillment of its role as a resolution vehicle, pursuant to the provisions of the AMCON Act 2010, will further reinforce confidence and stability in the banking system,” he stated. Analysts said the primary focus of the new CEOs is to keep the banks in business.

CBN draws curtain on intervened banks

NDIC speaks The NDIC Managing Director Umaru Ibrahim said: “The three banks had continuous deterioration in their financial conditions; they had totally lost their capital, and their shareholders funds were negative in fact, below zero. These banks had been living on life support system of the CBN. They were not able to mobilise deposit or attract new customers, they didn’t have liquidity except the ones that they borrowed from other banks and other banks naturally would not give them a kobo but for the CBN guarantee”. Ibrahim dismissed allegations that the decision to nationalise the three banks was premeditated. He said: “There is no question of us and the action being premeditated. You must plan and you must plan to execute things very well - and that is what we did in the interest of the nation’s economy and stability of the financial system, the banking system and depositors in particular.” Nationalisation By nationalising these banks, it implies that shareholders have lost all their investments as the Securities and Exchange Commission (SEC) has delisted these institutions from the Exchange. Some of the shareholders of these banks refused to adopt a pragmatic approach thereby frustrating the recapitalisation process. They resorted to legal interference to stop the management of the banks from negotiating with interested investors - all in a bid to protect their selfish interests and oil their wheel of greed. They disregarded the proviso that the regulator would have no option than to liquidate banks for which negotiation cannot be concluded before the end of the September deadline.

• GMD Finbank, Suzzane Iroche

• GMD Union Bank, Funke Osibodu

•Source: Renaissance Capital estimates

Safe haven for depositors, creditors In addition to preventing a systemic failure, the regulators have also protected depositors (including other banks) and creditors of these banks. Deposits due to other banks estimated at N1,011.34 billion and creditors worth N468.69 billion have been saved by the regulators actions. Although, impaired by the negative capital of about N589.65billion, according to BGL, the injection of N697 billion in new capital will cover the impairment and provide an additional buffer of N88billion for the banks, which is enough to cover a national banking licence requirement of N75billion. Relief for interbank market AMCON’s acquisition of these banks has helped avoid a domino effect in the interbank markets. Some healthy banks had closed interbank trading positions with the three, while others were on the verge of doing so but their recapitalisation has renewed hope of survival at the interbank market. No significant run Surprisingly, there were no significant panic withdrawals by depositors as most of them understand that there deposits are secured. The new banks according to BGL have also paid back all outstanding sums due to other banks estimated at over N300billion and the loans from the CBN totaling N170billion, signaling renewed strength to commence full banking operations competitively. Effect on stocks Market capitalisation lost over N339 billion in three days after the take over of the three banks. Banking stocks were the worst hit, losing 9.2 per cent of total value with little or no hope of rebound. As stock values plummeted, the Nigerian Stock Exchange (NSE) appealed to shareholders to halt further dumping of their stocks. The Exchange’s promise that the market fundamentals are still very strong and constitute a good opportunity for long term value investors yielded no positive response. Sterling Bank becomes acquirer

On the signing of a TIA by the last of the intervened banks - Equitorial Trust Bank, with Sterling, Renaissance Capital, which said it welcomes this development stated: “This in our view, accentuates significant success by the CBN in sealing a future for the intervened banks, and broadly achieving its stated objectives of deposit safety and job protection in these banks. “This acquisition has given Sterling Bank size. Today, Sterling Bank is a tier 3 bank ranking 17th and 19th by assets and deposits, respectively. With this deal, the combined entity will scale up to tier 2, ranking 12th by assets and deposits, respectively,” Renaissance Capital said. •Source: Renaissance Capital estimates

Experts’ perspective Reacting to the execution of the resolution, analysts expressed satisfaction with the smooth transition, a confidence that was echoed by the market with the strengthening of the naira. The pre-emptive move has been supported by economists and market sources, who see it as bringing the banking crisis closer to a conclusion. Former executive director in the defunct Bank PHB, Raymond Obire said the CBN’s action was necessary to quickly arrest anomalies in the three banks. For him, allowing the crises in the banks to persist would spell doom for the institutions and the economy as there was no evidence the banks would do anything before the end of the September 30 deadline. Obire said shareholders of the banks went to sleep at a time that past managements were running their banks down. “The shareholders were given opportunities to recapitalise the banks but nothing concrete was done. The shareholders funds were gone. Shareholders’ funds were already in red and CBN’s action, as far as I am concerned is proactive, and timely,” he said. The banks, he forecast, will in the next three years be sold by government at a discount, insisting that shareholders of the banks have lost their funds, whether they like it or not. “Although debate over the authorities’ preemptive action continues, it is difficult to see the justification for not taking action ahead of the end-September deadline,” said Razia Khan, head of Africa research at Standard Chartered. She said that stepping in early to safeguard

a small number of institutions and guarantee their deposits, the authorities may have protected the wider financial system. From this perspective, there were few arguments in favour of delaying intervention. Khan maintained the extent of official support now extended to the ‘newly incorporated bridge banks’ will be key to restoring confidence in the sector, and seeing a smooth transition. She said this may have been aimed at shoring up confidence in the market. She said the swiftness of the CBN action will lead to avoiding the risk of possible runs against the rescued institutions, as the September ending deadline drew near. “The official guarantee on interbank deposits was clearly the lifeline that had been extended to all rescued banks, and was instrumental in the authorities’ ability to restore calm rapidly following their August 2009 banking sector intervention,” she said

in an e-mailed statement. She said the apex bank was not ready to risk the progress made so far, on banks resisting faster resolution of the banking sector crisis now. According to her, while some level of nervousness might persist, pending the availability of full information, market volatility is expected to be short-lived. “Longer-term, faster resolution of any outstanding issues related to Nigeria’s banking sector crisis is a positive for investor sentiment,” she said. Managing Director, Financial Derivatives, Mr, Bismark Rewane said : “The intervention was necessary so that the affected banks wouldn’t contaminate the others, He however, said there is need to consider the cost of the rescue operation. Shareholders’ perspectives President, Independent Shareholders Association of Nigeria (ISAN), Olufemi Timothy, said shareholders have to cooperate with the CBN to ensure they do not lose further investments. He said this is most necessary because any legal action taken at this time will fail. “The banks are distressed and the Bridge Bank option was to help secure depositors’ and creditors’ funds,” he said. Chairman, Concerned Shareholders Association of Nigeria, Segun Owolabi, said shareholders are disadvantaged in this matter. For him, the beauty of the exercise was that no depositor has lost his funds, and that the banks will continue as going concerns. Owolabi said shareholders have to face the facts because their investments in these banks have been eroded. One of the founding members of the Solidarity Shareholders’s Association of Nigeria (SSAN) Gbadebo Adetokunbo, said shareholder should cooperate with the regulators. “We (shareholders) should blame ourselves for not allowing the banks to be recapitlised,” he said. He also blamed shareholders groups some of which he accused of colluding with the sacked managers that were removed in 2009 after the joint CBN/NDIC stress tests found them wanting. But President, Progressive Shareholders Association of Nigeria, Mr Boniface Okezie said shareholders have always expected the CBN to strike at anytime. For him, there was no proof that the banks could not be recapitalised before the September 30 deadline set by the apex bank. However, he maintained that it was unfortunate that shareholders will become losers in the recapitalisation of the banks. He said the CBN should have called for dialogue, to get the whole issues resolved. Okezie said the nationalisation of the banks would affect inflow of foreign direct investments into the country and therefore called on government to reverse itself. Legal battles Expectedly, there would be legal fireworks to test the legitimacy of the government’s actions as some shareholders have expressed their intentions. The legal implications of the actions may dissuade credible foreign investors from acquiring any of these banks. Ex-CEOs now consultants The Group Managing Directors of the defunct Afribank Nigeria Plc (Nebolisa Arah); BankPHB Plc (Cyril Chukwuma) and Spring Bank Plc (Sola Ayodele) were appointed as Transition Consultants for the newly created banks – Mainstreet, Keystone and Enterprise. They are expected to work in accordance with the laws applicable to the position of the MD of a duly licensed bank, but acting as Transition Consultant to each of the banks till September. Conclusion The success of the current banking reforms will however, be hinged on avoiding collapse of any bank. Although interbank guarantees have been extended till December 2011 for the five banks that have signed the TIA with its potential buyers, the question on the lips of some analysts is: what will happen to any of these five banks that walks away from the negotiation table?

THE NATION MONDAY, AUGUST 15, 2011

MONDAY, AUGUST 15, 2011

POLITICS THE NATION

E-mail:- politics@thenationonlineng.net

Ethnic nationalities have intensified their clamour for the convocation of a Sovereign National Conference (SNC) to discuss the basis for peaceful co-existence in Nigeria, reports Deputy Political Editor EMMANUEL OLADESU.

Is Sovereign National Conference the answer?

HE slain Attorney- General and Minister of Justice, Chief Bola Ige, delved into the heart of the national question almost 20 years ago. Do we still want to live together as a country?, he asked. If the answer is yes, he again asked: how? To the former governor of Oyo State, a national family meeting was crucial to deliberate on the terms for unity among the component units that are coordinate with the central government. Ige’s proposal trailed the postulation of his leader and mentor, the late Chief Obafemi Awolowo, former Premier of the defunct Western Region. In 1947, the nationalist had published a book titled: “Path to Nigeria’s freedom”. There, he telescoped into the future, predicting that only true federalism could sustain Nigeria, which is the amalgam of incompatible social formations. Governor Hugh Clifford, who took over from Lord Fredrick Lugard as governor of Nigeria in the colonial days, had also dissected the huge plural society forcefully lumped together by the British. He identified the fundamental elements of its plurality, including diverse languages, customs, traditions, and religions, which have the ultimate potentials of shaping their reactions and perceptions of the socio-economic and political milieu. As the colonial country wobbled on to independence, nationalist politicians, who were eager to receive the bastion of leadership from the interlopers recognised Nigeria’s limitations. Dr Nnamdi Azikiwe, who later became Governor-General at independence, said: “Let us forget our differences”. But Alhaji Ahmadu Bello, who became remained as the Premier of Northern Region, disagreed, saying: “We must understand our differences”. The three regions; North, East and West, were not the same, both in quality and quantity of their population. In 1998, Ige remarked that, for the North to catch up with the South in the race of progress, development must be at a standstill in the South for 20 years. The ‘gift of nature’, which is now a source of blessing and curse, in the country is also skewed. None of the three big tribes, or ethnic nationalities, is a major producer of oil, which is now the mainstream of the economy. While the founding fathers of Nigeria settled for federalism and regionalism during the pre-independence and immediate independence era, with the advantage of healthy competition that went with the options, the military, which submerged the country under its centrist system of administration sowed the seeds of discord. The early strain manifested in the three years of avoidable civil war. When states and local governments were created in response to elite’s scramble for power and relevance, the distribution by the military was lopsided, thereby engendering bitterness. The military nationalised the regional assets and formula for equitable, just and fair distribution of the commonwealth. The principles of derivation, need and national interest were turned upside down

• Braithwaite, Abayomi, Briggs, Kalu and Okunniyi at the meeting held in Lagos.

and the goose that lays the golden eggs was inflicted with the burden of neglect and denial, prompting violent protests in the Niger Delta. Efforts at constitution amendment have been futile, owing to the insincerity of the power that be. While the Abuja Conference set up by former President Olusegun Obasanjo ended in a fiasco due to the third term agenda, the Pro-National Conference Organisation (PRONACO), which held an alternative dialogue in Lagos, lack the zeal to market the its draft to the government and people of Nigeria. The Abuja Political Conference was crippled at its inauguration when the former Commander-In-Chief declared that there would be no-go area. Many believe that, unless the constitution is amended or reviewed to reflect the yearnings of the people, Nigeria will remain a tensionsoaked, fledging federalism. Although no ethnic nationality has really indicate intention to opt out of the federation, there are repeated inclinations for the protection of diverse identities and interests, which global organisations describe as the anthem of this millennium. Echoing these feelings and sentiments, Ayo Adebanjo, lawyer and politician, posited that the solution to the tensions and contradictions that plague the country lies in the Sovereign National Conference, which has been made elusive by the enemies of Nigeria. The leader of the SoutheastSouthsouth professionals, Emeka Ugwu-Oju, lamented that powerful forces which arrogate wisdom to

themselves have consistently blocked the opportunity of a conference. He said a national debate or dialogue is a soothing balm to the pains and scars inflicted by the fading federalism, recalling that, when there were national conference in Abuja and the alternative conference in Lagos, there was no single case of violence in the Niger Delta for the whole year. Eminent Nigerians under the aegis of the ‘National Consensus Group/Project Nigeria are of the same opinion. The group believes that peace, trust and tranquility would return to Nigeria if two criteria are met. The first is the drafting of a new democratic constitution to replace the 1999 constitution, which it described as a militaryimposed document. The second is the convocation of a conference. The group led by the revolutionary lawyer, Dr Tunji Braithwaite, said: “It is now clear that the 1999 military constitution is neither amenable nor amendable to panel beating as it has been attempted in the past and now by the political class”. A member of the group and leader of the Movement for the Survival of Ogonis, (MASOB), Ledum Mitee said that the group should come up with a draft, while building consensus among long standing advocates of genuine constitution review. This idea has been backed by the founder of the Oodua Peoples Congress (OPC), Dr Fredrick Fasehun. He said: “We need to revert to regional autonomy to allow the regions to develop at their own pace and permit their governors to strategise on developmental priorities as currently being done by Southwest

governors”. However, Third Republic Senator Sulaiman Salawudeen urged a return to the independence era.”We should revert to the 1960 Constitution. We must restructure the country”, he said, warning that the current unitary system in the garb of federalism would presage doom. Former Finance Minister Dr Kalu Idika Kalu asked the ethnic nationalities to engage the government with the national questions, adding that their resolution would herald a new dawn. Southeast and Southsouth Professionals emphasised the urgent need for the national dialogue, warning that Nigeria may disintegrate before 2015, if the terms for peaceful co-existence are not agreed upon by the ethnic nationalities. Braithwaite, who said that a constitutional surgery is long overdue, insisted on the constitutional restructuring of the country, urging President Goodluck Jonathan to put in motion a machinery for enacting a new constitution acceptable to the country. At the meeting held in Victoria Island residence of Dr Braithwaite were rights activist Dr Tunji Abayomi, Kalu, Fasehun, Prof Adebayo Williams, Salawu, Yerima Shettima, Shehu Sani,leader of the Movement for the Survival of Ogoni, Leden Mitee, Wale Okunniyi and Niger Delta activist Mrs Ankio Briggs. A communiqué released at the end of the meeting and read by Mrs Briggs also called for the establishment of a National Consensus Commission to coordinate the process foe making the new constitu-

‘Eminent Nigerians under the aegis of the ‘National Consensus Group/ Project Nigeria are of the same opinion. The group believes that peace, trust and tranquility would return to Nigeria if two criteria are met. The first is the drafting of a new democratic constitution to replace the 1999 constitution, which it described as a military-imposed document. The second is the convocation of a conference’

tion. It reads in part: “Project Nigeria believes the way forward is to immediately begin the process of making a peoples constitution to replace the illegitimate and false constitution. “Project Nigeria calls for the conveying of a constitutional conference through elections by the people for the purpose of giving to the people their own constitution, which is their fundamental rights. Abayomi, who spoke on the flaws of the 1999 Constitution said: “The foundation of this country is not clear. There is no agreement by the ethnic groups about Nigeria. Until there is an agreement on the basis for co-existence, there will be no nation. It will be worse for our children in the future. “The military gave the power to make law to itself under its decrees. But, it lacked the power to make a constitution for Nigeria. The people delegated to the National Assembly their power to make laws. Let them make a law that will give power to the people to make a peoples’ constitution. Yoruba, Ijaw, Boko Haram would meet. Yoruba may want agriculture. Ijaw know what they want. Boko Haram say they don’t want education. All these issues would be discussed. We will decide the way forward at the conference. We should agree on the terms for co-existence”. Ugwu-Oju said: “If we are still going to have a federation, we must first define the boundaries of the federating units, their powers and functions. We must ask ourselves whether the states and local governments as they are now, should continue as the federating units and be allowed to be draining the scare development resources”. The leader of Ijaw Professionals, Denzil Ketebe said: “Up to now, we have conventionally worked with the so-called geo-political zones and know that they have come to stay. What remains now is to recognise and admit them as a constitutional fact”.

THE NATION MONDAY, AUGUST 15, 2011

POLITICS As the House of Representatives settles down for real legislative works, the expectations of Nigerians remain high. They hinge these hopes on a few members expected to shine out of the pack. SUNDAY OGUNTOLA writes about them.

Jakande ‘back’ in politics

Reps to watch out for

O many, veteran politician and first executive governor of Lagos State, Alhaji Lateef Jakande, may have waved final bye to politics, a ‘business’ that gave him fame through his sterling performance between 1979 and 1983. Of course, age is no longer on the side of the Awoist fondly called Baba Kekere, a die-hard follower of the progressive ideals of the late Premier of the Western Region, Chief Obafemi Awolowo. So, all he has been doing is to offer occasional voices of wisdom and reason to his successors in the political arena at all levels of governance in the state nay the entire country. However, current developments on the nation’s political field seem to confirm the fact that he has staged a come-back into the game through his sons. One of his sons, Deji, is today a member of the House of Representatives, representing Somolu 1 Constituency of Lagos State. Deji first attempted to contest for a seat in the lower chamber of the National Assembly in the 2007 elections. It did not work. When again, he signified his intention to contest for the same slot in the April 2011 polls, even cynics were convinced that his time had come. Two factors obviously worked in his favour: The towering profile of his party, the Action Congress of Nigeria (ACN) and the clout of his father which has remained a reference point in any discourse relating to good governance, especially in the state. In a landslide fashion, the federal legislator smiled broadly at the end of the poll. Today, another member of the family is making spirited moves to strengthen what appears the evolution of Jakande’s political dynasty in the state. He is Deji’s look-alike brother, Seyi. Across the length and breadth of Odi-Olowo Ojuwoye Council Development Area (LCDA), his posters adorn virtually every structure, notably electricity poles. His mission: To contest the forthcoming local government election in the state with a view to becoming the next chairman of the LCDA. “Politics is supposed to be about the welfare of our people and so it is, for me; this is why I decided to commit myself to the election. I have to join our generation to make a difference,” according to reports, Deji once told some of his teeming supporters recently. Will he be able to upset his co-contestant in their primary election which, according to ACN’s guidelines, will soon hold? If yes, we he sustain the feat at the main election? These are among the posers on the lips on observers who are agreed that the elderly Jakande may have bounced back into active politics • Jakande through his sons.

Principal Officers ATURALLY, the principal officers will provide direction and focus for the newly constituted lower chamber. Speaker Aminu Tambuwal’s emergence certainly ruffled many feathers but the nation seems to have accepted him as leader of the 7th session of the House of Representatives. It is expected that his popularity and support across board will ensure stability and give him the muchneeded back-up to make serious legislative strides. The Sokoto-born speaker seems to have settled down well, navigating the House away from the many crises it experienced in the last few years. His deputy, Hon. Emeka Ihedioha(Aboh Mbaise/Ngor Okpala Federal Constituency of Imo State) has been providing necessary supports, standing in on many occasions when the speaker is away. Ihedioha’s experience as a third-term member and negotiation skills are expected to help in managing members of the House. Many of them have however complained of his alleged dictatorial tendencies, saying he does not allow them to debate issues on the floor of the House. The House has no majority leader for now basically because of alteration of the People’s Democratic Party’s (PDP) zoning arrangement following the emergence of Tambuwal. But many say it will certainly be Hon. Mulikat Akande-Adeola, who reportedly has the backing of the party’s top echelon. Hon. Leo Ogor is Deputy Majority leader while the Minority Leader is Hon. Femi Gbajabiamila of the Action Congress of Nigeria (ACN). Gbajabiamila is an experienced, respected member of the House. He is expected to spearhead oppositions’ efforts and checkmate the ruling party. Garba Datti of the Congress for Progressive Change (CPC) is the Deputy Minority leader. Ishaka Bawa is the Chief Whip while Mohammed Ahmed from Niger State is the Deputy Chief Whip. Mr Samson Osagie of the ACN is the Minority Whip and Sumaila Kawu of the All Nigeria Peoples Party (ANPP) is the Deputy Minority Whip of the House. Analysts say so much rest on these principal officers. They are expected to engage members in robust debates that will lead to developments in the nation. But beyond them, there are other members expected to shine in the lower chamber in terms of contributions and committee works. They are expected to raise the bar of legislative democracy and finish as strong honourables. They include:

Hon Abike Dabiri-Erewa

The representative of Ikorodu constituency, Lagos has more than distinguished herself as a dependable lawmaker. The third-term member has experience on her side. Since she joined the lower chamber in 2003, she has acted as Chairman of House Committee on Media and Publicity and Committee on Diaspora Affairs. She played key roles in the passage of Freedom of Information Bill (FoI), the Nigerian Diaspora Commission bill and Nigerian Infant Health Welfare bill, among others. She is one of the few Representatives who made waves in the 5th and 6th National Assembly. Hon Eseme Eyiboh The immediate spokesman of the House of Representatives almost did not return. But his doggedness paid off. The Federal High Court in Abuja last June returned him to represent Eket/Ibeno/Esit/Onna federal con-

Tambuwal

• Eyiboh

stituency of Akwa Ibom State. Eyiboh, members of the last session, confirmed did so well as spokesman that he emerged unscathed from the various scandals that rocked the House. His comeback is expected to usher in greater democratic dividends for his constituents and better legislative works at the chamber. The man is bubbling with energy to build on the foundation that he laid between 2007 to 2011.

Hon. Farouk Lawan

What Lawan lacks in size, he has in abundance in charisma, organisation and management. He is one of the longest surviving members of the House, having been returned since 1999. The representative of Bagwai/ Shanono Federal Constituency in Kano State has featured prominently in the House’s affairs. He was chairman of the House Committee under former Speaker Aminu Bello Masari. In 2007, he led the Integrity group that forced former Speaker Patricia Etteh to resign over corruption charges. Members identify him as a power broker courted by all leaderships of the lower chamber. He is ex-

‘So much rest on these principal officers. They are expected to engage members in robust debates that will lead to developments in the nation. But beyond them, there are other members expected to shine in the lower chamber in terms of contributions and committee works’

• Dabiri-Erewa

•Lawan

pected to play more of such roles, howbeit from behind-the-scenes in the 7th session. This is more so because he is not a principal officer. He is certain to head a juicy house committee when constituted.

By Dada Aladelokun, Assistant Editor

Rep tasks Jonathan on governance

Hon. Eziuche Ubani

Ubani moved full circles from being a media adviser to former Speaker Ghali Umar Na’Abba to becoming a committee head. The former journalist has been representing Obingwa/ Osisioma/Ugwu-magbo constituency of Abia State since 2007. He has played prominent roles in the passage of many bills in the House. Much more is expected from him in the new dispensation.

Hon. Opeyemi Bamidele

So much is expected from the new member of the lower chamber. This is because the former Lagos Commissioner for Information and Strategy had a distinguished stint in Lagos. As the representative of Ekiti Central Federal constituency, he is expected to draw on his progressive credentials and backgrounds to make robust legislation at the lower chamber. Bamidele is fully aware of this expectation. In a statement shortly after the inauguration of the 7th Session, he pledged he won’t disappoint.

Hon Ndudi Elumelu

He made his name during the famous power probe by the House of Representatives. As head of the committee, he vowed to unearth the scam in the sector. But the pendulum soon changed. Elumelu and other members of the committee were soon accused of enriching themselves. He was arrested and detained many times. But like a cat with nine lives, Elumelu suffered all odds to return to the house. It remains to be seen what he will be doing this time. But all eyes will certainly be on him.

By Dada Aladelokun

FEDERAL lawmaker from Ekiti State, Hon. Ife Arowosoge, has ad vised President Goodluck Jonathan to consolidate on the recent conduct of free and fair elections as a way of solving political crises in the country, rather than pursuing tenure elongation under the guise of six-year single term. Arowosoge, a lawyer who is represents Ekiti South West/Ise-Orun/Ikere Federal Constituency in the House of Representatives said only the application of true federalism can solve the hydra-headed economic problems in the nation. He added that the Action Congress of Nigeria (ACN) caucus at the National Assembly will fight hard to ensure that the States and Local Governments are protected. The lawmaker posited that corruption would reduce at the federal level if section 85(2) of the 1999 Constitution is amended to allow the Auditor General of the Federation to audit the accounts of Federal Corporations and authorities. Speaking with The Nation yesterday, Arowosoge blamed President Jonathan for flying the kite of six-year single term for president and governors in the country, describing the step as another gimmick to tenure elongation, which he said will not be tolerated by opposition Lawmakers. “This proposition is still a speculation. I guess President Goodluck Jonathan flied the kite to know the feelings of Nigerians and by now, he must have seen the signal that it cannot scale through because Nigerians , especially the people of my constituency did not like it “It could have been better for the President to help INEC Chairman, Prof Attahiru Jega to consolidate on the conduct of a relatively free and fair election that were conducted in 2011 and with this , all the problems in the conduct of elections will abate and Nigeria will move forward. “So, the reasons adduced for the President’s step were spurious and flimsy, which I believed were mere decoys being used to ram this proposal down the throats of Nigerians. The President cannot be trusted when it comes to election, so the idea that he will not benefit from it cannot be relied upon.” He said, the 158 members of the opposition in the House of Representatives will shoot down the bill when it comes to the National Assembly, saying it would constitute a clog in the wheel of development of the nation. • Arowosoge

THE NATION MONDAY, AUGUST 15, 2011

EDITORIAL/OPINION EDITORIAL FROM OTHER LAND

COMMENT

Again, too hasty! •CBN ought to have allowed the deadline to lapse before nationalising the three banks

N a typically dramatic fashion akin to the mass sack of five managing directors/chief executive officers of ailing banks in 2009, the Central Bank of NIgeria (CBN) governor, Mallam Sanusi Lamido Sanusi, has revoked the licences of three banks, almost two months ahead of the official deadline of September 30 given the ‘supposedly’ ailing banks to recapitalise. And pronto, the Nigeria Deposit Insurance Corporation (NDIC) through the ‘Bridge Bank’ mechanism has nationalised and assumed ownership of the banks, albeit under new names and management. The CBN said it would be too late if it waited till the end of the deadline to apply the brake. We however do not agree. The nationalised banks are Afribank Plc now Main Street Bank; Bank PHB Plc now Keystone Bank and Spring Bank Plc now Enterprise Bank. The ordered external audit of all the

‘As at the time their licences were revoked, these banks were solvent enough to pay back the N180 billion bailout money received from the CBN. This means the negative financial situation of the banks could not have been as exaggerated by the regulators, therefore reinforcing the belief that the banks could have practically survived the next 50 days without serious problem’

banks’ books had not been concluded when on August 14, 2009, the then new CBN governor Sanusi struck; thereby generating needless public controversy. In the same vein, the CBN had earlier issued a policy directive to all banks, stipulating September deadline for recapitalisation, with a caveat that banks that failed to meet this deadline risked being nationalised and or face liquidation. In less than two months to the appointed time, Mallam Sanusi struck again! For the records, the affected banks were already categorised as ailing and undercapitalised as revealed by the 2009 forensic auditing of banks. Consequently, the apex bank appointed ‘qualified management’ for them since 2009, and as at the time their licences were revoked, these banks were solvent enough to pay back the N180 billion bailout money received from the CBN. This means the negative financial situation of the banks could not have been as exaggerated by the regulators, therefore reinforcing the belief that the banks could have practically survived the next 50 days without serious problem. More importantly, the apex bank did not notify the stakeholders of the impending major shift in rules; i.e. the expiration of period of grace for recapitalisation. We are at pains therefore, to see the need for the hasty move of the CBN, even if pitched against the best of intentions. As it was in 2009, so it is now; the shock of the take-over hit the stock market like a thunderbolt, resulting in panicky withdrawals by customers of the affected banks.

It is not prudent for the apex bank to be dealing with costly, though unintended, but clearly avoidable negative consequences every time a policy directive is being implemented. While it is good for the CBN to review its policies from time to time in order to achieve the best for the banking sector, it could also engender loss of confidence in the market among investors if there is a palpable disconnect between the stakeholders and the policy enforcers. We may need to borrow a leaf from the American system. In the wake of the global liquidity crisis and signs of imminent collapse of banks in the US, the New York Times reported that ‘Obama administration was drawing up plans to disclose the conditions of the 19 biggest banks in the country, as it tries to restore confidence in the financial system without unnerving investors’; the key words here are ‘unnerving investors. It is not clear whether nationalisation would steer the banks out of the woods. If under the best management the CBN could get, and with the best of intentions since 2009, the banks could not recapitalise, what miracle will make them perform now that they are nationalised and are being run with taxpayers’ money? The solution to the inability of the banks to recapitalise may be somewhere outside the thinking box of the apex bank. This is much more so that the bank could not find new consultants for the ailing banks except their former helmsmen. We can only hope theCBN would not be slammed with suits by the banks’ stakeholders, and justifiably so.

So long, textiles •The extinction of the textile sub-sector in the NSE mirrors Nigeria’s comatose real economy HE news was dire: the last of the textiles companies on the Nigerian Stock Exchange (NSE), United Nigerian Textiles Plc (UNTP), just announced plans to get itself delisted from the exchange, meaning that it would soon cease to be a public-owned firm. It is as much that firm’s lack of faith in Nigeria’s domestic real economy as it is some soft-landing for investors who have for years earned little dividends for their investment in Nigeria’s real sector, on which the textiles sub-sector was very prominent. The official reason, according to CSL Limited, the firm’s stockbroker, is that the company’s majority investors, Cha Chi Ming Limited, a Chinese private company incorporated in the British Virgin Islands, needed the delisting so that it could start a corporate and financial restructuring of the company. But that, of course, is a sweetener. The bitter pill is that with the Nigerian investing public off that textile venture, the new Chinese sole owners would decide whatever they want to do with the company: recapitalise it back into good business health; or strip it bare: thus turning it into a carcass for capital flight. Either way, Nigeria has no moral right to complain: whoever does not take care of his or her asset has no right to complain if a more serious person takes it over. The irony though is that while the shambolic Nigerian real sector suffers death spasm on account of acute power shortage, the Nigerian president is distracting himself with some phantom

political power reshuffle that would increase presidential tenure to six or seven years, though reducing presidential term from two to one. Yet, no polity can be stable if the economy is not fixed. It is the perfect recipe for political instability and poverty-powered chaos! The UNTP delisting came in spite of the 2009 effort by the Federal Government to set up a N70 billion bailout fund for textile firms. As at the last count, about N10 billion had been accessed from the fund. But many a major player is shunning the fund, insisting that it would be good money down the drain, if the fundamentals of Nigerian real economy did not change. The main issue, of course, is the acute electricity shortage, as well as other key infrastructure like water, rail and good roads, pending the time rail is fixed. Frontally attacking all these infrastructure problems would drive down costs; and make the Nigerian textile sub-sector and prime employer of Nigerian workers much more competitive. That is why Afprint, a textile subsidiary of the Chanrai Group, which by November 29 would have operated for 150 years in Nigeria, refused to access the textile bailout fund, arguing that any textiles player that did would end up in grief. Warned Victor Eburajolor, Chanrai Group’s deputy managing director: “Those who have got the money, five years from now, let’s see what the money would have been used for.” Afprint clearly preferred business euthanasia to

fitful living in a harsh business environment! The same harsh business dynamics that drove the likes of Dunlop and Michelin out of Nigeria is driving the textiles sub-sector from the NSE. That is why instead of throwing money after a problem, the government must work hard at improving the power situation and other harsh dynamics, so that the Nigerian real sector can resurrect and provide gainful employment for teeming Nigerian youths. That is the only way that Nigeria would not continue to grow other people’s economy (by relying on importation of manufactured goods), while it leaves it own economy for dead.

‘The same harsh business dynamics that drove the likes of Dunlop and Michelin out of Nigeria is driving the textiles sub-sector from the NSE. That is why instead of throwing money after a problem, the government must work hard at improving the power situation and other harsh dynamics, so that the Nigerian real sector can resurrect and provide gainful employment for teeming Nigerian youths’

Starving in Somalia

HE worst famine in 60 years is devastating the Horn of Africa. In Somalia, where the problem is most acute, 3.9 million people are at risk of starvation and as many as 12 million throughout the region. Some 29,000 Somali children are believed to have died in the last 90 days alone. The casualties will only grow without an urgent and generous international response. The United Nations has made an emergency appeal for $2.4 billion but only received $1.1 billion in pledges. The United States has contributed $580 million so far and is the largest donor, as it should be. Other countries — especially in Africa and in the gulf region — also need to quickly help out. President Obama must urge them to do so. East Africa is prone to famine, and drought has resulted in severe scarcities of food and water. The Obama administration deserves credit for acting in advance to ameliorate the effects. A warning system deployed by the United States Agency for International Development used satellite imagery and other techniques to predict the crisis last summer, according to American officials. Since then, the agency has placed food and other supplies in Kenya, Djibouti and South Africa so they were available quickly when needed. It is also working on programs to help Somalia and other countries improve food production to avert future crises. Republicans in Congress must not be allowed to succeed in their mean-spirited and short-sighted efforts to slash food aid for next year. Somalis are also victims of a country in chaos for 20 years. The Shabab, a ruthless extremist group linked to Al Qaeda, is battling a weak Western-backed government and until this week, blocked aid groups from delivering food to the starving. As The Times reported on Thursday, for the past decade, the overall American strategy in Somalia has been troubled by a lack of focus and internal battles. It is not in Washington’s interest for Somalia to become a safe haven for militants who aim to target the West. But it is troubling that the United States has become increasingly dependent on private contractors to train African troops fighting the Shabab. A decision by the Central Intelligence Agency to train Somali commandos and intelligence operatives, which many say are becoming a power base independent of the government, seems especially counterproductive. There is no easy answer to Somali’s agonies. It has to start with saving millions now at risk of starvation, helping them improve their ability to grow their own food and finding ways to strengthen a shaky central government. • The New York Times

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THE NATION MONDAY, AUGUST 15, 2011

EDITORIAL/OPINION

IR: I perceive a nagging and recurrent question in whether traditional Africans worship God. It is nagging because the claim that traditional Africans don’t worship God but natural forces is the heaviest slight on African Traditional Religion (ATR). It is recurrent since that is necessary by its proponent to sustain the assault. What are scholars saying? Many of them that have spoken are; the Patriarch (Prof. ) Bolaji Idowu, Prof. John S. Mbiti, Ven. Prof. J. Omosade Awolalu, Knight Prof. P. Ade. Dopamu, to mention but very few. The Catholic Church has a structure that is relatively similar to the ATR but rarely recognized. Eugene Lapointe, who belongs to a Catholic religious order, O. M. I., identifies three forms of worship deriving from the tradition of the Roman Catholic Church. Permit me to quote him verbatim: “Latria (a Latin word from the Greek latreia): worship of adora-

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Do traditional Africans worship God? tion, used only for God: Dulia (Latin from the Greek douleia, slavery or state of serving): worship or veneration of Saints: And hyperdulia (again a Latin word from Greek hyper and douleia): Worship of Blessed Virgin or veneration of a higher degree.” I concluded, therefore, that many Catholics deny that they worship Mary because they are thinking of only the first category of worship (Latria). On the basis of what I discovered in Lapointe’s article, I also concluded in my doctoral thesis that Africans give Latria to God, hyperdulia to the Divinities, and dulia to the ancestors and the other spiritual be-

ings. I quoted Pope John Paul 11, where he noted in his Crossing the Threshold of Hope, that all peoples “have only one origin, since God inhabited the entire earth with the whole human race”. I am convinced it is odd to assume that traditional Africans don’t worship God. I believe we deny them worship of God because we limit the meaning of the word “worship” to only what happens on an altar. I would argue that whoever prays to God is worshipping God, and there seems to be no doubt that many traditional Africans pray to God many times every single day,

standing, kneeling, or sitting down. There seems to be no doubt that many of them thank, praise, and supplicate God . That seems to me the most basic element of worship. I read in the book by Awolalu and Dopamu that traditional Africans don’t have “God’s House” because they believe He is omnipresent. I have no doubt that traditional Africans worship God in their mythology, songs, pithy sayings and proverbs which many Christian and Muslim leaders also use to buttress their homilies and speeches. • Pius Oyeniran Abioje, Ph. D, University of Ilorin

Ogun: Sign of Good things to come

IR: Public sector employees in Ogun state recently got a surprise gift from Governor Ibikunle Amosun, what I have since decided to call a sign of more good things to come from the young ACN administration in the state. Against the run of play, the government decided to surpass the National Minimum Wage by announcing that the least paid worker on its payroll will go home with not less than N18, 250.00 at the

end of every month. The National Minimum Wage Act 2011 assented to by President GoodluckJonathan stipulates that the least paid worker in the country shall go home with not less than N18, 000 every month. The signing in to law of the Act had generated resistance by some governors who insist they might not be able to pay the new wage due to paucity of funds and that due consultations were not made before the law was passed. But while the President, who was the chief

sponsor of the law, was still struggling to pay, Governor Amosun ensured that Ogun maintains its trail-blazing reputation. He belled the cat and entered the record books as the first state in the Southwest to agree to pay the new wage. For good effect, Senator Amosun added a further N250.00 and declared that payment should commence immediately! Expectedly, the announcement elicited joy and ecstasy from the state’s civil servants as many of

them saw the announcement as a sign of the government’s commitment to their welfare. I believe the zest and the zeal to bring succour to the people of Ogun state so far displayed by Senator Amosun since he assumed office as governor are pointers to signs of good things to happen in the state. • Tolulope Obalanlege, Oju-ore, Ota, Ogun State. obatolupe@gmail.com

The failed educational system

IR: The educational system of any nation is a great tool for national development. May I simply ask if we have educated people in Nigeria? In 1999, history revealed that Nigeria ranked 5th in the world’s educational system producing failed students; no wonder now that Nigerian Universities are producing unemployable graduates. What is the cause? All our educational systems have failed. The scholars running the affairs of our educational system have failed if, a list of top 150 universities in the world can be published without a single Nigerian University in 2008. In 2008, 1,188142 sat for WAEC but so unfortunately that a meagre 188,136 students passed with credits in English and maths with three other subjects which means more than one million dreams were destroyed. Also in 2010, 98% of students who sat NOV/DEC NECO failed leaving two per cent that had credit in mathematics, English with three other subjects. Also, in 2011, one million students reportedly failed their school certificate examination. My question is; who is failing the teachers or the students? • Bello Adeyemi Idris belloadeyemi@hotmail.com

THE NATION MONDAY, AUGUST 15, 2011

EDITORIAL/OPINION

EFORE the Federal Government constituted an eight man panel last two weeks to look into the problems of the Niger Delta Development Commission (NDDC), hardly a day passes without some news on the interventionist agency, usually, for what many see as the wrong reason. The panel is headed by a seasoned technocrat and an administrator who recently retired as the Head of Service of the Federation, Mr Steve Oronsaye. Incidentally, the probe is coming just a week to the second year anniversary of the present management headed by Mr Chibuzor Ugwoha. It could be argued that the late President Umaru Musa Yar’Adua, when he inaugurated the Board on August 6, 2009, never probably imagined that instead of showcasing what it has been able to achieve in the drive by the Federal Government to bring succour to the Niger Delta region after two years in office, top members of the Board/ Management would rather be writing memoranda trying to explain what has come to be an open secret in the commission. Before the inauguration of the panel by Secretary to the Government of the Federation (SGF), Senator Anyim Pius Anyim, there has been perennial mudslinging within the management of the NDDC. The reason has simply been because of the intense power play within the commission. It can be argued further that from day one when the incumbent Managing Director/Chief Executive Officer, (MD/ CEO) of the organisation, Chibuzor Ugwoha resumed work, the reception accorded him had shown clearly that some entrenched interests within the commission were not ready to play by the rules. According to investigations, he had resumed on August, 10, 2009 when the former acting managing director informed him that he was ready to hand over. But he got the shock of his life at the shabby treatment meted out to him. And he was to discover to his greater shock that the authority to confirm cheque payment was being exercised by another than the accounting officer. And he made it clear to them that they had been doing the wrong thing at the commission ever before he arrived and

‘It is the usual refusal to reform because that will probably cut off the degree of malfeasance from which some of them have made huge financial gains in the past. There is also the unhealthy recourse to ethnicity each time the problem besetting the organization came up for public discussion. This is uncalled for and must be nipped in the bud in order not to destroy the dreams of the founding fathers of the commission’

Saving NDDC from itself By Lawrence Etadafe Ogbiniki that things must be done properly. His insistence on doing the right thing, led to the intense power struggle which snowballed into series of accusations and counter accusations leaving the region and her people the worst for it. But with the inauguration of the Presidential Committee to probe the problems of the NDDC, one can say this is a one in a life time opportunity to correct all the things that are wrong in the commission by setting in order a unified frame work that will enable the Board/Management to deliver to the people of the region the much sought after dividends of democracy. Of recent, the infighting got to the level of blackmail, intimidation and outright campaign of calumny against the MD/CEO and his office. There were allegations of fraud and forgery levelled against him and the media was awash with adverts calling on President Goodluck Jonathan to sack him. But as things are now, they only indicate that President Jonathan is not the type of man that will just act on the spur of the moment or on mere allegations. And the fact that he has constituted a committee to look into what exactly is wrong shows that he has the commission at heart and want it to succeed instead of it remaining comatose because of ego problems of a few. Findings have shown that at the centre of the problems plaguing the commission are some powerful members of the Governing Board who have overtime constituted a powerful cabal working against the MD/CEO and the successful administration of the Commission. And, although by virtue of their designations, the Board members are subordinate to Ugwoha, more than any other thing, they would like to see him ‘cut to size’ and possibly, disgraced out of office just because he is insisting on doing the right thing. The question is what could be wrong with the NDDC? The genesis of the crisis in the NDDC is traceable to a fundamental error in the structure of the management where the Board Chairman has an overbearing influence. This is not in consonance with known civil service practice and Civil Service Rules and Regulations where the day to day management of government agencies/parastatals is vested on the Managing Director who also doubles as the Chief Accounting Officer (MD/CEO. The board functions only as a body that formulates policies while the implementation and operation of the agencies/ parastatals is vested on the management headed by the MD/ CEO. In the NDDC, however, the chairman of the board usurps the function of the MD/CEO while other board members, especially state representatives, want to perform operational

issues rather than limit themselves to policy matters. On the award of contracts which is the main bone of contention in the squabbles in NDDC, the Procurement Act 2007 is very clear on the matter as the MD/CEO is recognized as the Chief Accounting officer of the agency (as in other government agencies/parastatals) who must vet all contracts awards. The MD/CEO is also the head of Tenders Board while jumbo contracts have to pass through the BPP (Bureau of Public Procurement) before they can be awarded. In NDDC, the chairman of the board and other board members want to award contracts directly. This is part of the friction because the MD/CEO has vehemently stood against such illegal practice and arrogation of powers. At the inception of the NDDC, the act establishing the agency was very clear on the organogram of the commission which placed the MD/CEO as the Head of Management and Chief Accounting Officer. He reports directly to the Board and not through the chairman. However, what was referred to as the operation manual of the commission was later put in place. This gave undue powers to the Chairman of the Board to act as if he was the Chief Accounting Officer. This practice led to several internal crisis which saw the removal of chairmen and even MD/CEOs of the Commission. When the Procurement Act of 2007 came into force, members of the board and management carefully disregarded it insisting that the commission’s operation manual was superior to the Procurement Act of 2007 which is binding on all government’s award of contracts. This is the crux of the crisis in the NDDC. While the MD/CEO is calling for total adherence to extant rules and regulations as encapsulated in the Procurement Act 2007 and other Civil Service Rules and Regulations, other top members of the management, the board chairman and other members want something else. This is what has slowed down the operations of the commission all these years and consequently impeded the development of the Niger Delta region. It is the usual refusal to reform because that will probably cut off the degree of malfeasance from which some of them have made huge financial gains in the past. There is also the unhealthy recourse to ethnicity each time the problem besetting the organization came up for public discussion. This is uncalled for and must be nipped in the bud in order not to destroy the dreams of the founding fathers of the commission. Here lies the main job of the probe panel. Orosanye and his team must make sure that they set in order, the workings of the commission so that it can run seamlessly and free from all encumbrances. The NDDC must not be disbanded and the board should not be sacked. The proper delineation of duties between the board and management in accordance with extant civil service rules should be established. Oronsaye and his team must save NDDC from itself. • Ogbiniki, a legal practitioner, wrote in from Port Harcourt.

Bob Marley: Remembering the Legend

OBERT Nesta Marley was born on the 6th of February 1945 in the Saint Ann Parish of Jamaica. His father, Norval Sinclair Marley was a white man in his 50s and his mother, Cedella Booker was a black woman who was 18 years old at the time he gave birth to him. Due to this, he suffered a lot of racial prejudice in his childhood. Although his father provided the family with financial support, he was away most of the time on his work related trips. Bob Marley was just ten when his father died. His family moved to the Trench town slum in Kingston after his father died. Since he was short in stature and due to his mixed origins, Bob Marley had to endure a lot of bullying. So he learnt self defence and eventually gained a lot of physical strength. This earned him the nickname of ‘Tuff Gong.’ This is also the time he met Neville Livingston (later known as Bunny Wailer) and they began playing music together. At 14, he became an apprentice at a local welder’s shop and began to make music in his free time with Livingston and Joe Higgs, who was a local musician and a devout Rastafarian. It was at one of such jam sessions that Bob Marley also met Peter Mckintosh (later known as Peter Tosh). In 1962, Bob recorded his first two singles called ‘Judge Not’ and ‘One Cup of Coffee’ with Leslie Kong under the pseudonym Bobby Martell. Later on, he and Leslie split up due to money issues. In 1963 Bob Marley, Bunny Livingstone and Peter Tosh and oth-

Rastafarian faith also believed that smoking marijuana was an uplifting experience which would connect the human body to the divine. Eventually, the cancer spread to his lungs, liver, stomach and brain. However, he continued to play on in concerts and recording albums such as ‘Survival’ in 1979 and ‘Uprising’ in 1980. Bob Marley died on the 11th of May, 1981 at Cedars of Lebanon Hospital in Miami, Florida.

By Sunday Apah ers came together to form a band. They initially called the band ‘The Teenagers’ but later on changed the names several times and finally settling themselves on the name ‘The Wailers’. Bob Marley began to sing along with composing musical lyrics for the band. They recorded two songs called ‘I’m Still Waiting’ and ‘It Hurtsto be Alone’ with record producer Clement Dodd. Dodd also gave Bob a place to stay in the back room of the recording studio and in return Bob would do assignments for Dodd. In one such assignment, where Bob was coaching a group of vocal singers called ‘The Soulettes’, Bob met Rita Anderson. He later married her in 1966. While with Dodd, The Wailers recorded several songs. However, one of them called ‘One Love’ became extremely popular. Comprised of the elements from the Rastafarian faith, the song called for unity, peace and love. This song was completely different from the radical and sometimes anti-authority songs thatThe Wailers used to sing. Bob Marley also recorded the song ‘Simmer Down’ in 1964 with Dodd which became extremely popular and made The Wailers one of the top bands in Jamaica. They then followed it up with ‘Soul Rebel’ and ‘400 Years’. In 1966 after marrying Rita Anderson, he moved with his mother in Wilmington, Delaware. However, less money and record producers wanting him to compromise on his Rastafarian messages in his songs meant a lot of conflict in his life. Therefore, he came back to Jamaica and began working in a factory to earn his living. Marley also began wearing his trademark dreadlocks in keeping with his Rastafarian faith. Between 1968 and 1972, The Wailers along with Rita Marley tried to re-cut a few of their old songs with JAD Records in London.However, this did not prove to be a very good idea. Then, in 1973, the Wailers released their first album worldwide. It was called ‘Catch a Fire’ which did quite well. Then a year later, they released another album titled ‘Burning’. This album included their hit songs like ‘Get Up, Stand Up’ and ‘I Shot the Sheriff’. This introduced Marley on the international stage. In 1974, The Wailers broke up with each of the three band members wanting to pursue solo careers. But Bob Marley continued calling his band ‘Bob Marley and the Wailers’ and teamed up with new members to form another band. These included Carlton and Aston ‘Family Man’ Barrett (drums and bass), Junior Marvin

and Al Anderson (lead guitar), Tyrone Downie and Earl ‘Wya’ Lindo (keyboards), Alvin ‘Seeco’ Patterson (percussion), and the ‘I Threes’ (backing vocals) whichincluded his wife, Rita. In 1975, Bob Marley had his first international hit ‘No Woman, No Cry’. After this, he released his album ‘Rastaman Vibration’ in 1976 which became a billboard chart topper for four weeks. In December 1976, Bob Marley, his wife and his manager Don Taylor were wounded in an assassination attempt made before the ‘Smile Jamaica’ concert. Marley’s wife and manager were seriously wounded, and Bob Marley had just some minor wounds. They all recovered, and Bob went on to play at the concert. Bob Marley then went to London and recorded his next two albums ‘Exodus’ and ‘Kaya’ which included the hit songs ‘Exodus’, ‘Waiting in Vain’, ‘Jamming’ and ‘One Love’. ‘Exodus’ stayed on the British music charts for 56 consecutive weeks. He was also arrested for possession of a small amount of cannabis. In 1977, Bob Marley was diagnosed with cancer. He had sustained an injury on right toe which never healed. But Bob Marley refused to go ahead with any amputation surgery as it was against the Rastafarian faith. His strong faith in his religion meant that he had to keep his body ‘whole’ and also that he should not register a will as it would symbolize the acceptance of death as inevitable, thus giving a total disregard for the concept of everlasting life.Rastafarian faith also believed that smoking marijuana was an uplifting experience which would connect the human body to the divine. Eventually, the cancer spread to his lungs, liver, stomach and brain. However, he continued to play on in concerts and recording albums such as ‘Survival’ in 1979 and ‘Uprising’ in 1980. Bob Marley died on the 11th of May, 1981 at Cedars of Lebanon Hospital in Miami, Florida. He was 36. His final words to his son Ziggy were ‘Money can’t buy life’. As per his wishes, he was buried with his guitar, a soccer ball, a marijuana bud, a ring given to him by the Prince Asfa Wossen of Ethiopia and a Bible. Bob Marley received many posthumous awards, including the Grammy Lifetime Achievement Award in 2001 and the induction into the Rock and Roll Hall of Fame. He was revered by many as a ‘prophet’ or a ‘messiah’ for his religion. He propagated many thoughts including radical non-violent action. To put it in his words: ’Emancipate yourselves from mental slavery.None but ourselves can free our minds...’ • Apah, a Journalist wrote in from Ughelli

THE NATION MONDAY, AUGUST 15, 2011

EDITORIAL/OPINION NE of the greatest perturbing issues in the country now is that of a rustic and barbaric group called Boko Haram. It might have spawned a great unresolved controversy on whether or not the Boko Haram is an authentic sect with real Islamic tenet as claimed by the cult. However, a thorough assessment of the religion would depict the hypocrisy of the Boko Harams. Who are the Boko Harams? Where do they come from? Who is controlling them? Who are their sponsors? Are they part of us? Are they really Islamic in ideology as claimed? Do they genuinely represent the religion? The learned people without hypocritical minds who are deeply rooted in history and contemporary issues would agree with me that the so called Boko Haram represents not the Islamic doctrine. They are the savages of warring countries who try to find their haven in our midst. Unfortunately, their first hosts are the cabals who use them as predators to indirectly prey on their political enemies. But the masses are at the receiving end of the havoc. They maim, brutalize and kill not those in government but the innocent people on the streets. I wonder what our immigration officers are doing at the border. These saboteurs escape into the country through the borders. They do not fly in and even if they do, I believe they can’t enter without the knowledge of the border securities. In the first instance, Islam is never an antiwestern education or an anti-technology; it is not a doctrinaire and not a conservative religion such as held by Boko Harams. In fact, all civilization any society may be basking in today in the world started with the Muslims. When the Europeans were still in the stygian, the Arabs had invented many technologies. The creation of numerals by the Muslims had contributed immeasurably to modern civilization. Where then did the Boko Harams get their anti-technology dogma? Sure not from Islamic doctrine. Again, Islam as a religion does not embrace the killing of innocent people even during the holy war (Jihad). A true Muslim versed in Islamic knowledge and tenets would never purposefully kill an animal let alone a human being in the pretext of fighting Jihad. I ask: Why branding them Islamic?

Boko Haram, a doctrine un-Islamic By Abolaji Adebayo Despite Boko Haram’s claims that modern learning and technology must not be embraced, the insincere Boko Harams have never stopped using the products of the education they stand to denounce, or of what produce are the bombs and other weapons that they used to wreak havoc on the society? And the cars they drive? Boko Haram is a sect of soldiers who have fought wars in the war-ravaged countries and sneaked into the country through Benin, Niger, and Cotonou. They entered into our society without being revamped or rehabilitated to fit into the normal society. What we do not realize is that before any war returnee soldier could live normally again in the midst of the people, he must first be rehabilitated to live a normal life among the people in the society. These war returnee soldiers from other lands get their place here in our country and are immediately hijacked by the rebel politicians enraged by the maneuver of the political zoning arrangement and have since been finding all means of making the country ungovernable for President Goodluck Jonathan. And also to revenge the acrimony perpetrated by the Niger Delta Militants during the late president Umaru Musa Yar’adua’s regime. Because the Niger Delta militants would not make the country peaceful for late Yar’Adua, a Hausa President to reign, so also the Boko Haram would not for president Goodluck Jonathan. So, our politics has become a game of tit for tat, in the face of ethnicism. These war experienced escapees are to engage and train the local unlettered Almajiris. The Almajiris, who have no knowledge of the modern technology, immediately embraced the anti-western ideology inculcated in them by their lords. They (the Almajiris) have no knowledge of their

immediate environment let alone the world outside. Because of their ignorance and their loyalty to their leaders, they are just like puppets, they take whatever their lords tell them hook, line and sinker. Remember how they took their leaders’ words about the independence proposal by one of the Western leaders in 1956? When a motion for self government which generated controversy was moved in 1956 by Anthony Enahoro, the Northerners did not agree with the proposed date and left the House without settling the matter. Getting to their region, they relayed the matter to their followers in their favour which they (the followers) acted upon according to their leaders’ instructions. It eventually led to Kano riot of 1956. The allegiance is still there till date. They still do the will of their leaders, on their commands they act. They are not yet civilized. They still do their lords’ biddings either good or bad. They are stooges. They are unlettered; they do not change by the trends of the modern world. They need orientation; they need enlightenment; they need education. It requires strategy and diplomacy for President Jonathan to resolve the menace but then, instead of Mr. President to diplomatically seek an approach of resolving the gory issue of the phony acclaimed Islamic sect and other sundry tribulations – economic, social, education, etc, what he can think of at this stage of his political transformations is a six-year single term tenure which has been widely construed to be another self-styled term elongation. He has been soft-pedaling anyway. Thanks to zillion criticisms. Let the Press and the rest of us stop parading Boko Haram as an Islamic sect which it is not. Our economy, finance, and

other sectors are being endangered through this misnomer. The religious bigotry about the Islamic banking system which would have been a remedy to our financial mess has been engendered by giving the right name to the wrong people. Let us call the destroyers by their real names, lest they strut about as the mighty in the society. Our immigration officers should be up and doing and always be conscious about who comes into the country. Boko Haram is not a religious sect in doctrine or in any form and cannot be representing Islamic ideology. It is operating on the commandments of its creator, a mere mortal called politician; not according to the Islamic jurisprudence. • Abolaji Adebayo, a public affairs analyst wrote in from Lagos

‘The learned people without hypocritical minds who are deeply rooted in history and contemporary issues would agree with me that the so called Boko Haram represents not the Islamic doctrine. They are the savages of warring countries who try to find their haven in our midst. Unfortunately, their first hosts are the cabals who use them as predators to indirectly prey on their political enemies. But the masses are at the receiving end of the havoc. They maim, brutalize and kill not those in government but the innocent people on the streets’

VIEW FROM THE FOREIGN PRESS

UR son lives next to a Turkish mosque on Kingsland Road in Hackney, where some of London’s worst mob violence has occurred. When looters rampaged through Hackney last weekend, there were few police officers to stop them and residents had to chase them off with butcher knives, truncheons and baseball bats. Vigilante action succeeded where normal policing failed. Kingsland Road resembles the bustling, ethnically mixed streets of Brooklyn. During the day, it is a home of sorts for unemployed young men with nothing to do; Britain’s youth unemployment rate is currently over 20 percent. During the economic boom a decade ago, though, nearly as many were out of work, and they did not all turn to crime. To counter the risk that they might, there were storefront drop-in centres for young people in the neighbourhood; these places are now shutting down, as are other community services, like health centres for the elderly and libraries. Local police forces have also been shrinking. All are victims of what people in Britain call “the cuts” — the government’s defunding of civil-society institutions in order to balance the nation’s books. Before the riots, the government had planned to cut 16,200 police officers across the country. In London, austerity means that there will be about 19 percent less to spend next year on government programs, and the burden will fall particularly on the poor. The rioters in London appear to be young men of varying races — despite reports of a monolithic mob of alienated “black youth.” But there is a racial dimension to this drama. The wave of riots began with protests against the police killing of a young black man, Mark Duggan. While initially peaceful, the demonstrations

Cameron’s broken windows By Richard Sennett and Saskia Sassen soon descended into violence. When the unrest spread to Manchester on Tuesday, many of the rioters there were apparently white. An old-fashioned Marxist might imagine that the broken windows and burning houses expressed a raging political reaction to government spending cuts — but this time that explanation would be too facile. The last time Britain saw widespread rioting, in the 1980s, street violence came after a long and failed political struggle against the Conservative government of Margaret Thatcher, which suppressed trade unions and decimated social services. Today, the rioters seem motivated by a more diffuse anger, behaving like crazed shoppers on a spree; while some of the shops looted are big chains, many more are small local businesses run by people who are themselves struggling through Britain’s economic slump. There has been a change in national temperament that has affected decent citizens as well as criminals. The country’s mood has turned sour. Indeed, the flip side of Britons’ famed politeness is the sort of hooliganism that appears at soccer matches and in town centres on weekend nights — an unfocused hostility that is usually fuelled by vast quantities of alcohol. Fears of anarchic urban mobs date from Shakespeare’s time, and Prime Minister David Cameron has summoned these old fears, describing the present conflagration as “senseless.”

Mr. Cameron was good at selling people on the idea of cutting costs, but he has failed to make the case for what and how to cut: efforts to increase university fees, to overhaul the National Health Service, to reduce the military and the police, even to sell off the nation’s forests, have all backfired, with the government hedging or simply abandoning its plans. In attempting to carry out reform, the government appears incompetent; it has lost legitimacy. This has prompted some people living on Kingsland Road to become vigilantes. “We have to do things for ourselves,” a 16-year-old in Hackney told The Guardian, convinced that the authorities did not care about, or know how to protect, communities like his. A street of shuttered shops, locked playgrounds and closed clinics, a street patrolled by citizens armed with knives and bats, is not a place to build a life. Americans ought to ponder this aspect of Britain’s trauma. After all, London is one of the world’s wealthiest cities, but large sections of it are impoverished. New York is not so different. The American right today is obsessed with cutting government spending. In many ways, Mr. Cameron’s austerity program is the Tea Party’s dream come true. But Britain is now grappling with the consequences of those cuts, which have led to the neglect and exclusion of many vulnerable, disaffected young people who are acting out violently and irresponsibly — driven by rage rather

than an explicit political agenda. America is in many ways different from Britain, but the two countries today are alike in their extremes of inequality, and in the desire of many politicians to solve economic and social ills by reducing the power of the state. Britain’s current crisis should cause us to reflect on the fact that a smaller government can actually increase communal fear and diminish our quality of life. Is that a fate America wishes upon itself? • Richard Sennett is a professor of sociology at the London School of Economics and New York University. Saskia Sassen is a professor of sociology at Columbia. – Los Angeles Times

‘In attempting to carry out reform, the government appears incompetent; it has lost legitimacy. This has prompted some people living on Kingsland Road to become vigilantes. “We have to do things for ourselves,” a 16-year-old in Hackney told The Guardian, convinced that the authorities did not care about, or know how to protect, communities like his’

CAF CHAMPIONS LEAGUE

Enyimba smash I’m not Siasia’s Raja 2-0 in Aba schoolboy —Etuhu Pg. 41

Pg. 24

Nation Monday, August 15, 2011

PAGE 23

Mikel plays 90mins in Stoke City draw Pg. 24

MONDAY, AUGUST 15, 2011

NATION SPORT

2012 LONDON OLYMPIC QUALIFIERS

NFF: Ghana, S/Africa friendlies will help Falcons

HE Nigeria Football Federation (NFF) has said that the proposed friendly matches against the Black Queens of Ghana and the Bayana Bayana of South Africa will help the Falcons prepare for the quest to book a place in the 2012 Olympics. The Falcons prepare to confront Cameroon September 29 in the first leg of the final to berth a place at the quadrennial event slated for London next year. NationSport learnt that though the football house has not received any concrete response from both countries, they are optimistic that the deal will materialise. Expressing worry in Abuja, Deputy Secretary General (Technical) of the NFF, Emmanuel Ipeme said the federation has not received any formal approval from any of the countries contacted, adding that

•Eucharia

By Innocent Amomoh except for the South African Football Association that sent an acknowledgment in the respect of the letter received. “We want to use the two friendly matches to prepare the Super Falcons for the big task of securing one of the African slots for the Olympics. But as I speak to you now, we have not gotten any response from them, except the South African FA, which only wrote to acknowledge the receipt of our letter, with a promise to communicate to us,” he stated. But as the Abuja camp of the Falcons remains lively with players fighting for places in the Eucharia Uche-tutored team, and coupled with the arrival of German trainer Thomas Obliers, who just got his contract extended by one month, the African Champions are set to go. “The girls played well but they have to learn to score goals. If we had scored against France the tournament could have favoured us. Against Germany we had chances to score but could not utilise them. Our fitness was better than that of the Germans, I am surprised we didn’t win that match and as for Canada we should have scored three to four goals,” Obliers had said. Though the German had told journalist that he was satisfied with the performance of the Falcons at the World Cup, the team owe a duty to prove critics wrong and reassure their teeming supporters that there’s more in the sleeves.

Mbachu regrets Falcons’ W/ Cup exit R

IVERS ANGELS striker and one of the finest players to have played for Super Falcons Stella Mbachu, says the team never bargained to exit the just ended female World Cup at the first round. “That is football, so unpredictable. We believed we will qualify from our group. Everything went wrong after losing the first game. “We surprised Germany in our second match. You know after our friendly with them last year which they beat us 8-0,they thought it will be the same score line. We are proud we played well against Germany, we were not disgraced but rather Germany lost their invincibility. After that match other teams knew that with hard work and determination they can hold their own against them. But the question everyone will ask is: who won? If you play well and you do not win you have not played anything. On that day Germany won not with huge score line but they beat us and we are so sad about that,” she said. Voted Most Valuable Player (MVP)

•Relishes MVP award

in the last group game against Canada, Stella says: “You know that was my last World Cup so I was so happy when I was voted the MVP for that match. We told ourselves we will not leave the tournament without winning a match, that was why we played our hearts out and got the result against Canada. A veteran of three Olympics (Sydney 2000, Athens 2004 and Beijing 2008) believes the Lionesses of Cameroon cannot stop Super Falcons from qualifying for the games. “We will beat Cameroon and qualify for the Olympics next year. Olympics is a big tournament, it is another big stage where you have big teams too. The difference with World Cup is that they have provision for best looser. If we had best looser in the world cup surely we would have qualified from our group. I believe strongly that we will surely pick the Olympic ticket”.

Ameobi set to haunt Sunderland, says Pardew

EWCASTLE UNITED boss Alan Pardew is convinced Shola Ameobi can again score against Sunderland in next week’s derby. Ameobi, who signed a new contract last week that keeps him on Tyneside until 2014, has scored six times against the Black Cats. And Pardew believes he could do it again at the Stadium of Light. Pardew said: “Shola will play a big role against Sunderland because he genuinely gets himself up for that game. I saw that when we played at Sunderland last season. “When these big games come up, he actually goes up a level. He likes the flavour of the Sunderland game. “That is the key with Shola and my job is to make sure that he goes up to that level for every game.”

By Innocent Amomoh prepared to ensure that the programme cuts across all the Local Government Areas in the state. “What we are trying to do in Lagos State is to lay a lasting foundation for sport development from the grass root. We especially will want to return the state to where it used to be as the bedrock of Table Tennis in Nigeria and Africa in general,” he said. Meanwhile, the Mountain of Fire and Miracles (MFM) Academy have since embraced the initiative under the supervision of head of the children’s department of the mission, Pastor Ayo Ayeko, and the co-coordinator, Laja Ijaodola. The Nigeria Table Tennis Federation (NTTF) had earlier recommended that the initiative be made national to enhance the development of the sport

UPER EAGLES and Chelsea of England holding midfielder, Mikel Obi shook off his injury scare to feature for 90 minutes in Chelsea’s stalemate in the opener of the England Premier League (EPL) against Stoke City which ended goalless. The Nigerian international started on a good note, exacting control on the Chelsea midfield with well tailored passes and scintillating ball control, thereby putting up a man ofthe –match performance. Mikel took up the responsibiliy of

CAF CHAMPIONS LEAGUE

Enyimba smash Raja 2-0 in Aba

NYIMBA International of Nigeria stepped up their game to record their first home game of the 2011 Orange CAF Champions League after a 2-0 victory over Raja Casablanca Athletic of Morocco at the dreaded Enyimba International Stadium, Aba. Two first half goals from Uche Kalu in the 9th and Chidozie Johnson in the 27 minutes respectively were enough to add three important points to the haul of the Peoples Elephant and more misery to Raja who are on the verge of elimination if results of the remaining matches failed to swing in their favour.

Sunshine Stars stumble in Morocco

igeria’s Sunshine Stars have been overtaken at the top of the CAF Confederation Cup Group B after they fell 1-0 to Maghreb de Fes in Morocco Saturday night. Maghreb are now top of the standings with seven points from three matches, while Sunshine have six points. Daring Club Motema Pembe from DR Congo are third on the table with four points after they beat JS Kabylie 2-0 in Algeria on Friday. JSK are yet to record a point in three matches. Maghreb’s match winner was by Abdelhadi Halhoul in the 29th minute. Saturday’s defeat in Fes was the first suffered in Group B by debutants Sunshine Stars after they won their first two games of the series. Sunshine though have a chance to almost immediately avenge this loss when they host the Moroccans in the reverse fixture in two weeks. Motema Pembe will also welcome winless JSK to DR Congo.

Lagos embraces VSO’s Mini-T/Tennis board OMMISSIONER for Youth, Sports and Social Development in Lagos State, Waheed Enitan Oshodi has thrown his weight behind Value Sport One (VSO), a sports development outfit based in Lagos on the mini- table tennis initiative that will help develop the game from the grass root. The board which is specially made to encourage children between ages 5-12 to engage in the ping pong game at the early stage, thereby catching them young. After a visit to his office by VSO, Oshodi promised that in line with the ideals of the governor Babatunde Raji Fashola (SAN) on sports development from the grass root, he will suport any initiative that will bring about the needed transformation. He said being the bedrock of table tennis in the coubtry, Lagos is

Mikel plays 90 minutes in Stoke City draw

from the grass root nation wide, saying that this will help discover budding talents that will take over from the already aging ones. The NTTF, through its President, Kayode Omotose ordered that the mini table tennis board will be made available to every state of the federation, especially Kwara State where great players like, Kasali Lasisi emerged. There’s however plans by the Patron of VSO, who is also a member of the International Table Tennis Federation (ITTF), Olufemi Olugbile to agitate for the ITTF African Youth Revaluation Programmen through the novel of the mini table tennis initiative. In the same vein, the Director of Sports Ogun State, Adeshola Faleti has commence the campaign for the use of the mini table tennis board following the meeting held with VSO recently.

marshalling the Chelsea midfield after it became clear that Michael Essien will miss the first few matches of the league despite the presence of Frank Lampard. With this result, Andre Villas-Boas had to endure a frustrating introduction to the Premier League as Chelsea failed to secure an opening day victory for the first time in 12 seasons after being held to a 0-0 draw at Stoke today. Villas-Boas was taking charge of his first competitive match following his close-season move from Porto and the new Chelsea boss was denied victory by Stoke goalkeeper Asmir Begovic, who

produced a string of excellent second half saves to keep the Blues at bay. Chelsea were convinced they should have had a 55th minute penalty after Frank Lampard appeared to fall in the area after a challenge from Marc Wilson but a draw was a fair result in what was a predictably bruising battle at the Britannia Stadium. Villas-Boas instantly made his mark by starting with Fernando Torres ahead of Didier Drogba but, although the Spain international showed flashes of inspiration, his side could not find a way past Begovic and a Stoke defence marshaled superbly by new signing Jonathan Woodgate.

ULHAM midfielder Dickson Etuhu has lashed out at Super Eagles coach Samson Siasia for treating him like a schoolboy. Etuhu turned down a chance to return to the Eagles for the aborted friendly against Ghana on Tuesday, saying Siasia has disrespected him on several occasions. “I feel every human being deserves some element of respect. I respect everybody irrespective of your age, stature, or whether you are rich or poor; that is how I feel it should be everywhere,” Etuhu said in a newspaper interview. “I am not going to accept the way coach Siasia treated me. I am quite different from a lot of people but one simple fact about me is that I speak the truth. I am just speaking what everybody knows already and I’m not afraid to say it here. “I cannot play for him under such circumstances. I have played under lots of managers before and even at the World Cup, we all saw the way things were run under several managers.” He added: “Coach Samson Siasia has

never given me a call-up since he took over from Lars Lagerback. Not even a text message, let alone calling me to know how I am doing at my club. There are several times I have put calls across to him but he didn’t pick.”I don’t think it is too much if he explains things to me as a gentleman would. If he said something like ... ‘Dickson as you can see I am just taking over as national team coach and I would like to try out some young players in my quest to develop Nigerian football, and all you have do for me is to be patient’, that’s all and I will simply hold my peace. “But he told the NFF Secretary-General to call me two days before the friendly with Ghana. What! You called two days to a match and expect me to start packing my bags and boots, running down to the camp like a schoolboy who is happy for

NOC appoints IMPC event partner

being invited into the national team. “No, that is not going to happen to me at all, I am not a schoolboy for God’s sake.” However, the defensive midfielder, who has won over 17 caps for the country and played at the 2010 World Cup, has insisted he loves to play for his country despite his latest decision not to play under Siasia. “I grew up in Nigeria and I owe all that I have achieved today to my upbringing in Nigeria. Wearing the green and white jersey of Nigeria gives me a sense of joy and at a point, I felt I could dump any club that try to stand in the way of me playing for my country,” he said. “There is nothing that I enjoy doing better than playing for Nigeria, I love playing for Nigeria at the expense of my club, because Nigeria is my life and I’m just crazy about the country.”

Long will partner Osaze for success –Hodgson EST BROMWICH Albion manager, Roy Hodgson has predicted that new signing Shane Long will form a formidable partnership with Nigerian international, Osaze Odemwingie. Osaze had picked up an ankle injury in a pre-season match, and after the Baggies on Friday turned down a £4m bid from Wigan for the Nigerian, Hodgson is optimistic that the last season’s top scorer will sign a new deal. Though Long had revealed he has lost money after turning his back on Leicester to play under Roy Hodgson, he is however looking forward to a perfect blend with Osaze. The Republic of Ireland star, Long snubbed interest from Leicester and fellow Championship outfit West Ham to join West Brom from Reading this week in a record-breaking £6.5m deal. Long, who is on around £25,000 a week with the Baggies, said: “There were clubs who could be seen to be giving out a lot more money, but it’s not about money to me. “This is a club that’s on the up where I might get a bit more game time and the manager was a big part in my

From Tunde Liadi in Aba The game with was initially marred by early downpour few hours before the kick off burst to life almost immediately Enyimba kicked off proceedings and it was not thst Aba Millionaires Uche Kalu’s first time pile driver went beyond the reach of Yassine El Had in-between the sticks for Raja with barely 9 minutes on the watch. Just like it was a fortnight ago in Cameroun, captain fantastic, Chiedozie Johnson doubled Enyimba’s lead in the 27th minute after another close range effort in the Raja’s 18 yard box with the North African goalie flatfooted again. The second half was a shadow of the first, with the apparent slippery playing surface affecting the game and both sides contented with staying in their own half and waiting on occasion forays at counter attack to do damage. Enyimba 2-0 win cement The Nigeria flagbearer’s first place in Group A with 7 points from three matches with the other three playing catch up for another two weeks at least.

By Stella Bamawo S part of its plan to ensure the successful and memorable participation of the coun try at the London 2012 Olympic Games, the Nigeria Olympic Committee has appointed IMPC Limited as its official event partner for the games. As contained in the letter signed by the NOC Secretary General Tunde Popoola and dated 2nd August,2011 addressed to the Chief Executive Officer IMPC Goke Dokun, the company: an integrated media organisation with areas of business in Sports Event, Marketing Strategy and Consulting has been appointed as Event Manager for the Olympic Clock/Countdown activities and Erection of an Olympic monument. Also, the company has been giving the production rights to produce the 2012 Olympic Trail Television and Radio programmes during the build up to the games proper. The NOC thus expressed its hope that the company will exhibit high level of professionalism and demonstration of competence in line with Olympic standard. And responding, IMPC Chief Executive Officer, Goke Dokun having expressed appreciation to the NOC executive for the opportunity giving to his company to serve as its Event Partner assured that the NOC will not be disappointed, saying''we are ready to deliver and this will be the beginning of a mutually relationship between his company.

I’m not Siasia’s schoolboy –Etuhu F

decision. It was interesting, when I talked to him, to see how genuine he is and the ideas he had in mind on how the club will advance. On the Osaze, the Baggies boss had said: “The discussions are over an improved offer. I’m optimistic he’ll sign. “I don’t think there’s a major difference between what we’re offering and what he would like.”

•Osaze

FANS TO INTER

Joel Obi can replace Sneijder

•Etuhu

HAT Inter Milan lost the Italian Supercoppa to Ac Milan may have been put behind by the fans, but what stands as a consolation to them is the superlative performance of Nigerian youth prodigy, Joel Obi. Ac Milan had clinch the prestigious trophy, winning 2-1 after Inter drew the first blood from a Wesley Sneijder’s delightful free-kick but he and other players did very little after which gave Nezzazuri fans something to worry about ahead of the new Serie A season. The angry fans will however take solace in the brilliant performance from Joel Obi, who was picked to start the game, giving those worrying fans something to fall back on. Born in Lagos, Nigeria the young 20year-old according to them is not like a typical Nigerian player, he has an abundance of skill, speed and technical ability, and in addition hard working and a tough tackler. In a statement scooped from club’s web site, they compared him to former Serie A legend and Netherlands international, Edgar Davids, adding that they don’t only look alike due to their “pitbull” like attitude; Obi is as brave as the Dutch. Obi moved to Italy at the tender age of 14 to join Inter’s youth academy after he was spotted by the clubs African scouts and progressed well through the various youth levels, eventually being promoted to the first team at age 19. He made his official debut in the clubs Champions League tie in September 2010 against Werder Bremen but little chance

have come since then and a couple of unfortunate injuries including a thigh strain in his first Milan derby on the 14th November 2010 in which his inclusion in the first team surprised everyone. His first season in the spotlight was also met with a tough decision when he was forced to choose between representing his home country Nigeria and his now home Italy, he decided on Nigeria and made his international debut against Sierra Leone in February 2011. Having garnered 10 appearances for Inter last season didn’t take away his talent though and during this summer he has interested various clubs in Italy, including Parma who were desperate to sign the Nigerian player on loan. With rumours making rounds that Inter may be at the verge of losing their start players like Sneijder, the fans feel Obi could play an important part in making that loss a not so bad one.

•Taye Taiwo

Taye Taiwo targets regular spot at Milan

NDAUNTED by his not-too impressive performance against Bayern Munich in the Audi Cup, Nigerian international Taye Ismaila Taiwo is determined to pin down a regular spot in the AC Milan squad. This miust have responsible for his quick return to the Ac Milan fold after the botched international friendly between Nigeria and her West African neighbour Ghana, as a result of the violence that ensued in London, venue of the proposed encounter. Despite the fact that he was granted an extra day off, Taye Taiwo arrived at Milanello to train with his team-mates. Although he wasn’t involved in an actual match, Taye Taiwo was still granted an extra day’s leave by Milan, but the Nigerian preferred to arrive for training on Wednesday and not Thursday. According to report on club’s web site, Taiwo took part in all the training programmes lined up, including the practice match. The former Olympique Marseille defender had received some criticism for his performance against Bayern Munich in the Audi Cup, but analysts have said that the critics did not take into consideration the fact that it was a settling-in match for everybody. However, Taye Taiwo didn’t dwell on that match in Munich, though, and gave his all in training in Beijing to help his team-mates prepare for the final and to help himself get ready for the challenge of securing a regular spot in the team ahead of the new season. So, perhaps it was no surprise he returned to work one day early with the same burning desire to prove his worth.

Valencia still in hunt for Ogbonna

ALENCIA are maintaining contact with Torino for defender Angelo Ogbonna. Toro President Urbano Cairo has been adamant he received “no worthwhile offers” for the 23-yearold. However, reports from Spain point to Valencia stepping up their bid to •6m. It is still a long way off Torino’s •10m price-tag, especially considering he plays in Serie B.

Anyansi not happy despite Enyimba’s win

ESPITE winning 2-0 at the Enyimba International Stadium, Aba, the Chairman of the Peoples Elephant, Felix Anyansi Agwu told journalists that he was not pleased with the way his wards approached the second half but still congratulated the team for the victory. Anyansi disclosed that he was not particularly happy with their second half display after holding a 2-0 lead in the first half.

From Tunde Liadi in Aba “I am happy with the victory but I am not too satisfied with the way we played in the second half. Everybody was hoping that the team would increase the goals tally in the second half after the beautiful way they executed the first half.” Anyansi who guided the team to two Champions league victories in 2003 and 2004 stated.

CAUTION Council chief warns tax defaulters Ekiti

•Participants at the draw

HE process is restoring joy to couples whose excitement ended shortly after their wedding vows. The thrill of hearing a newborn’s cry is now spreading through reproductively challenged families. And that is because a medical facility, Nordica Fertility Clinic, based in Asaba, Delta State and Lagos, is offering free medical assistance. Couples without a clue to their challenges are now getting free screening. Others are receiving full treatment, leading to conception. Infertility terminates the pleasure of many couples, driving them apart in some cases, a

BENEVOLENCE Foundation launched for poor, disabled children

NGO lifts the less-privileged

Lagos

MONDAY AUGUST 15, 2011

Oyo

Email: news_extra@yahoo.com

Page 25

Hope rises for infertile couples Clinic screens 10 cases, treats 2 free By Oyeyemi Gbenga-Mustapha

partner ignorantly blaming the other, or even some unseen forces. Family and societal pressure worsens it. It is also wrecking homes financially, as partners needing help often fall prey to dupes of different stripes. Nordica Fertility Clinic is helping to bring happiness to such homes. Every two years, it

organises a raffle draw in which couples having conception challenges participate. The participants, having been sensitised through the print, electronic and social media, send their data to Nordica. The clinic collates all data and schedules the raffle. Over those two years, 16 Nigerians will have free access to in-vitro fertilisation or IVF.

Ekiti to set up community radio, TV

EKITI State Governor Kayode Fayemi has said the state is in need of community radio and television stations but requires the Federal Government’s assistance to set them up.The Governor made the call while on a courtesy visit to the Minister of Information and Communication, Mr. Labaran Maku in Abuja.Governor Fayemi disclosed that the community television and radio will promote transparency and accountability of the government, adding that the initiative will bring government closer to the people, especially those at the grassroots.”Much more seriously, we would be requesting from you a community television,” he told the Minister. “We know that the NTA (Nigerian Television Authority) is actively promoting that but none has been established in Ekiti at the moment, so we are extremely interested in that.”We are interested in community radio just as we are interested in community television. It

EMPOWERMENT

From Dele Anofi and Olugbenga Adanikin, Abuja

will help us break the chain of government being too far away from the people if we can ensure that there is access to information in the right manner. We know that it will take government to a wider spectrum of our people and ensure that good government becomes a watchword of accountability and transparency in all we do.” Fayemi also said the state government is

about establishing a film institute at Ikogosi area of the state, adding that his administration has helped to enhance the operations of the NTA and Federal Radio Corporation Network (FRCN) in the state. He urged the Minister to include his request in the budget of the Ministry as the Federal Government makes plans for the 2012 budget. “This is the budget season that we are entering. For the 2012 budget, we will want to really work with your team and yourself

Much more seriously, we would be requesting from you a community television...We know that the NTA (Nigerian Television Authority) is actively promoting that

One of such draws has just taken place in Asaba. Ten winning participants spread across the country will get free screening, the organisers said. The screening will x-ray their condition and determine what should be done next. But two couples will, after the screening, get full medical attention based on the certainty of their ability to conceive. The draws took place at Grand Hotel, Asaba. •Continued on Page 26 to insert things that will be in the interest of our people in the Southwest and particularly our people in Ekiti State into the budget,” the governor said. In his remark, the Minister pledged to work in partnership with all the agencies and parastatals in the state to ensure Fayemi’s request is granted. The Minister who identified the need for cooperation among the three levels of government disclosed that the Ministry cannot accomplish its aims without partnering with other states of the federation. Speaking on the spate of insecurity in the country, the Minister advised governor Fayemi to utilise all organs of mass communication in the state to create awareness on security consciousness, stressing that such organised messages would assist law enforcement agencies in performing their duties. “Insecurity in Nigeria is a threat to every citizen wherever we may be and it is our duty to come together to educate our people on the need for peace, stability, unity and solidarity,” he said.

THE NATION MONDAY, AUGUST 15, 2011

S part of its commitments to improve the living conditions of the less-privileged people in the society, the International Inner Wheel Club of Lagos Island has reached out to the poor by donating three wheelchairs and three hearing aids worth about N1.5m. The President of the Club, Mrs Oluwatoyin Towobola said the gesture was geared towards helping the less-privileged feel loved and regarded as an integral part of our society. “We believe that drops of water make an ocean. These items will go a long way in helping them to actualise their goals in life,” she said. The District Chairman of the Club, Mrs Julie Sekoni appealed to the beneficiaries to make judicious use of the items donated for their benefits. “What we do in Inner Wheel is to put smiles in the faces of the lessprivileged people. Please, do not sell the wheelchairs and hearing aids. Use them for your benefit. If you have problems, don’t hesitate to call on us through the President,” she said. The Education Secretary, Lagos Island Local Government Education Authority, Mr Moshood Maiyegun lauded the effort of the club. He said: “To whom much is given much is expected. I appreciate the donors for their love for humanity. Their past philanthropic gestures should also be noted. They had, in the past, donated and installed 14 toilet facilities at Araromi Baptist Primary School. They had also repaired two toilet facilities at Ereko Methodist Primary School, and today, they have presented three wheelchairs and three hearing aids to the people,” he said. He appealed to well-meaning Nigerians to assist the poor. “Permit me to call on all wellmeaning individuals to help our people in any area of their needs,” Maiyegun said. The recipient of one of the wheelchairs, Mubarak Aremu a pupil

• One of the beneficiaries and some officials of the NGO

NGO lifts the less-privileged By Amidu Arije

of King Ado High School thanked the group for their kind gesture. Other beneficiaries of the wheelchair

were Muhammed Adebayo, a pupil of Ereko Methodist Primary School, and Abigail Oguneuwa, a pupil of Local Government Primary School, Otta Ikosi Epe.

Lawmaker refutes N40m loan

HE member representing AbohMbaise State Constituency in the Imo State House of Assembly Hon. (Mrs.) Ngozi Pat-Ekeji has refuted the rumour getting the rounds in the state that each of the lawmakers collected the sum of N40m as loan from one of the banks in the state. Hon. Pat-Ekeji made the denial during an interaction with reporters in Owerri. Noting that an issue like obtaining of loan is not the priority of members of the House

From Emma Mgbeahurike, Owerri

for now, she said they are preoccupied with how to make laws that would be beneficial to the people. According to her, the success of the state towards the delivery of dividends of democracy is the primary concern of the legislators, whom she said are willing to help Okorocha’s Rescue Agenda to succeed. The governor has better plans for the

citizens some of which he had started unfolding as he requires the support and prayers Imo people to succeed. Hon. Pat-Ekeji told journalists to feel free to contact her on any issue they are in doubt about before going to press, even as she pledged that she was willing to partner with them. The Minority Leader explained that she is a lover of sports and she had donated cups for football competitions, with the

Hope rises for infertile couples •Continued from Page 26 A woman simply identified as Mrs Joyi, who resides in Lagos, and the first to make the draw, expressed her joy and good fortune to be selected. Excitedly, she narrated how she and her husband had sent in repeated entries. Their strategy paid off because they emerged the very first winners. She had been a participant in the draws since 2008 when the Fertility Treatment Support Foundation (FTSF) made its debut. FTSF, operated by Nordica, administers the screening and treatment. Mr Oseki David, a resident of Benin City, Edo State, was the next lucky winner as his number rolled up on the screen. In the number three spot was Mrs. P. B. Ghomorai from Patani, Delta State. The fourth number to roll up on the screen was that of Mr. Tom George of Port Harcourt, Rivers State. Mrs Falana Oluwayemisi who resides in an undisclosed town in Osun State emerged the fifth winner to round off the first half of the draws. The sixth winner was Mrs Kehinde Ologun of Lagos, whose was randomly picked. She was followed by Mrs Tosin Oderinde of Ilorin, Kwara State, while Mrs Ugbagbor, a resident of Lagos emerged the eighth winner. What could be described as the highpoint of the evening occurred when Mrs Nwaoghor Okwudili Unity’s phone number was picked as the ninth winner. What stood her out was her place of residence: Asaba. The hall erupted

into applause. The winners said they had high expectations from the FTSF initiative, but never quite expected to emerge winners so easily. The last to be picked was Mrs Ijeoma Onwueme, a resident of Owerri, Imo State. To keep up the excitement, organisers of the programme gave a concession to the home crowd by arranging an impromptu lucky dip for all couples present in the hall with fertility challenges. This was how Mrs Isioma Mordi and Mrs Isioma Matthew and their spouses got the rare opportunity to be screened free of charge by Nordica. However, they would not be eligible for the full IVF cycle unlike the 10 couples earlier picked from the draws. The next step for the lucky 10 is that they would all undergo comprehensive screening to determine the best way they could be assisted to have their own children. Two couples with the best chances of attaining conception will be selected from this list to benefit from full IVF or combination fertility treatment. But the beauty of the FTSF services is that all the couples are winners in their own ways. With or without the ultimate prize, their joy lies in the knowledge that there is hope, regardless of the odds. From research, one out of every four couples or 25 per cent of couples is fertility-challenged and will require one sort of intervention or the other. That is why the demand for Assisted Reproductive Treatment (ART) is high. The biggest challenge for such couples is the

cost of treatment. A regular IVF cycle in any standard fertility treatment facility costs an average of N650,000 to N1,000,000 depending on the clinic and profile of the case. As a result, many couples desirous of conceiving their own babies have been unable to get help. That is where the Nordica gesture comes in handy. It is implemented in partnership with Nordica Fertility Centre, Lagos and Asaba. Organisers said they give fertility-challenged Nigerian couples access to the best and most advanced assisted-fertility treatment services in the world at no cost. Nordica has received over 10,000 entries. All intending couples, irrespective of state of origin or residence, sent their details, including name, age of woman (wife), address and years of marriage to a special code – 33140. It was that simple. There were no limitations to the number of times of the entries. Asaba, this year’s draws venue covers the Southeast and Southsouth zones of the country where a large number of enquiries about the issue of infertility was recorded. As Medical Director, Nordica Fertility Centre, Dr. Abayomi Ajayi noted, infertility patients need treatment, but they also require information and enlightenment.

The recipients of the hearing aids were Sakirat Olumide, Janet Oyewole and Owoiya Nofisat.

aim of developing sports in the state. She disclosed that her major priority is to ensure that there is balance of deliberations in the House on issues affecting the well-being of Imo people. Continuing, the Minority Leader said her major priority is women and youths empowerment, adding that she would strive to alleviate poverty in her constituency. She further stated that she has given scholarship to brilliant but indigent pupils in her constituency, adding that she is working towards developing sports in the community in collaboration with her husband.

The success of the state towards the delivery of dividends of democracy is the primary concern of the legislators, whom she said are willing to help Okorocha’s Rescue Agenda to succeed

THE NATION MONDAY, AUGUST 15, 2011

CITYBEATS THE NATION

E-mail:- ynotcitybeats@gmail.com

BU Hammed (real name protected) is a commercial okada operator with an exception. Where other riders in Lagos dread crossing the path of council workers, who are charged with collecting rates from them, Hammed dares them, and in most cases, he operates without paying a dime. Hammed and a handful of others, have been enjoying some kind of immunity as they ply the roads. They flout traffic regulations with impunity. They move around Lagos without fear of harassment and molestation. Take this instance that took place at the popular Jibowu bus stop, where this reporter first encountered him, as he stood looking for a bike to take him to Adeniran Ogunsanya, Surulere, Lagos. While other commercial cyclists, who refused to embark on the trip despite an offer by the reporter to pay N300 in excess of the normal fare because it would entail buying at least three commercial motorcyclist’s tickets from local government revenue officials: At

Soldiers take to okada riding for survival In most parts of Lagos, military men, especially soldiers, have taken over the commercial motorcycle business. If the okada rider you flag down for that trip rides recklessly and shows no respect for traffic codes, chances are that he might be a soldier. ABIKE HASSAN and PAUL OLUWAKOYA report Mushin, Yaba and Surulere, Hammed jumped at the offer. When asked if he was not scared of the ‘tax’ boys, he said in Pidgin English: They no dey look face? Dem dey look face now. Oga, everybody get where he belong, you sef as you dey, you get where you belong. So where does Hammed belong, that he can ride round Lagos without paying council tax to the Agbero? this reporter asked.

I be soldier, dem no born dem well to stop me. Hammed said with so much confidence. A soldier riding okada after a hard day’s job instead of resting? This guy must be an impostor. Hammed burst into laughter; Oga, I no be the only one, we plenty wey we dey do this job, na dis work we dey take survive, salary no reach anywhere. Despite ‘good remuneration’ and free accommodation offered sol-

diers by the government, Hammed probably resorted to okada riding for survival. Could he have resorted to okada business to augment his income as a result of the large size of his family? The reporter asked. “Oga, the thing wey you talk na true, many of us have many wives and kids, but I have just one wife and three children, but the money no reach anywhere.”

27 Further investigation confirmed Hammed’s assertion that many soldiers, especially of the lower ranks, take up okada business to earn extra income. The business has become an ‘oil well,’ where majority source taxfree funds to sustain their large family. They are also found to operate mostly in clusters around military barracks and other areas such as Jibowu, Maryland, Ojuelegba, IdiAraba, Ojo, C.M.S, Falomo, Obalende, Apapa and parts of Ikoyi and Victoria Island. Further investigation revealed that the bikes are either owned by the Nigerian Army or given to the soldiers by the Army High Command on hire purchase with payment spread over a year or so. Typical examples are the motorcycles provided to Non Commissioned Officers (NCOs). These motorcycles are ultimately owned by these NCOs after full payment has been made. Military sources said the initial aim of giving out the bikes was to

•SEE PAGE 28

Fashola slams life jail on rapists

150 KAI officers dismissed

‘Save Ajah market’

LAGOS State Governor Babatunde Fashola has signed into law, a bill that imposes life imprisonment on any man who has sexual intercourse with any girl or woman without her consent. The bill, to be known as the Lagos Criminal Law of 2011, is among the three signed into law last Monday by the governor. The law, according to Governor Fashola, was in response to the rising cases of rape, in the state. Section 258(1) of the law stipulates that "any man who has unlawful sexual intercourse with a woman or girl, without her consent, is guilty of the offence of rape and liable to imprisonment for life."

THE Lagos State Government has dismissed 150 officers of Kick Against Indiscipline (KAI), for corrupt practices. Announcing the dismissal of the officers, KAI Marshal-General, Danjuma Maigari, said the officers were sacked for offences ranging from extortion, illegal arrest and collection of graft and bribe from members of the public arrested for environmental related offences. Also, men of the Lagos State Taste Force on Environmental Sanitation and Special Offences Unit, have arrested 25 persons for alleged illegal street trading. The government has restated its commitment to an earlier directive outlawing hawking and street trading in the state.

A GROUP, Concerned Citizens of Eti-Osa, has appealed to Lagos State Governor Babatunde Fashola to prevail on the Lekki Concession Company (LCC) to stop the planned expansion of the Lekki/Epe Expressway. The group, in a statement, said if the planned expansion of the expressway, by 30 metres is allowed, the popular Ajah market, a major source of livelihood for thousands of people would be severely affected. They urged the governor to prevail on the LCC to embark on the expansion between VGC Badore junction on the other side of the road to prevent the unlikely fate that might wipe out the market. "On the other side of the road, there is more space for the expansion, which only requires LCC to make concerted effort to liaise with PHCN to move back PHCN's high-tension line, with little or no damage to properties and businesses," the statement added.

THE NATION MONDAY, AUGUST 15, 2011

CITY BEATS 'Stop intimidating opponents' A chairmanship aspirant in Amuwo Odofin Local Government Area of Lagos State, Prince Segun Idris, has advised the incumbent, Comrade Ayodele Adewale, to give special attention to good governance rather than intimidating, molesting and harassing of his opponents. Idris, in a statement made available to CityBeats, said "change is constant.” His words: “I want the good people of Amuwo-Odofin and Lagosians, to know that the incumbent chairman of Amuwo Odofin Local Government is already jittery that he may be overthrown by the wind of change that would sweep through the council on October 22, when the local government polls will be conducted across the state.”

Three traders charged with theft of N1.5m laptops THREE traders, who allegedly stole some laptops valued at N1.5 million, have been in Lagos charged before an Ebute Meta Chief Magistrates' Court. The accused -- Loveday Eze; 51, Abiodun Goodday; 48 and Jerry Egbuna, 49 -- are facing a threecount charge of conspiracy, stealing and fraud. They, however, pleaded not guilty to the charges and were each granted bail in the sum of N250,000 and two sureties in like sum.

Lawmaker lifts 150 traders

MEMBER of the Lagos State House of Assembly, representing Oshodi-Isolo II, Mrs Omowumi Olatunji-Edet, has given an interest-free, soft loan to 150 market men and women and small-scale business owners. The beneficiaries cut across the 15 markets in her constituency. Each of the recipients got N20,000 repayable after three months to enable others to benefit from the gesture. Mrs Olatunji-Edet said the revolving loan, secured through Skye Bank Plc, is to ensure that members of her constituency benefitted from the scheme. She added that the essence of the programme is to reduce poverty. According to her, "The loan given to 150 women from the 15 markets in my constituency is interest-free but we urge the beneficiaries not to misuse the opportunity to allow others to be part of it." The quarterly programme will see no fewer than 150 people benefitting from the project. The sum is N3 million for 15 markets and each trader is given N20,000. Ten people benefitted per market. “I put my resources as a commitment to ensure that the bank gave out the money. Let me at this juncture remind the beneficiaries that your attitude and faithfulness to

• Mrs Orelope-Adefulire presenting cheques to beneficiaries. Behind her is Mrs Olatunji-Edet By Oziegbe Okoeki

this gesture will determine how other doors of opportunity will be opened to us.” According to her, the loan scheme, is “a vision borne out of

‘

passion for our market men and women, with small scale business.” Speaking at the event, the Deputy Governor of Lagos State, who was the special guest of honour, Mrs Adejoke Orelope-Adefulire, prom-

The loan given to 150 women from the 15 markets in my constituency is interest-free but we urge the beneficiaries not to misuse the opportunity

’

•Okada operators

Soldiers take to okada riding for survival • Continued from page 27 aid the NCOs in moving about for their official work, only for these officers to turn the motorcycles into profit yielding tools. “The soldiers are supposed to use those motorcycles merely as a means of transport to their duty posts, not as a means of making money commercially on the streets of Lagos,” the source who declined to be named disclosed. Identifying a soldier okada rider is easy. Most of them have stickers of their military formations on their okada. Those without such stickers wear Army cap, or vest, shorts or trouser. Sometimes, they hang their belts on their bike or wear soldier’s boot. They are always found at locations close to military formations such as bar-

1. Fire and Safety Services Control Room Phone Nos: 01-7944929; 080-33235892; 080-33235890; 08023321770; 080-56374036.

racks or offices. With their routes close to their barracks they have easy access to reinforcement in case of any harassment by anyone, or if attacked, another soldier who also spoke on condition of anonymity said. The second set of soldiers that use okadas for commercial purposes are those who are either retired or dismissed. With their career terminated, they ride Okadas to sustain themselves and their families.

‘

Many of the retired soldiers, blame the authorities for not giving them proper training and education that could have prepared them for life after service. “Nobody encourages you to further your education or get more qualifications or develop a skill that will assist you to make a living after service in the army,” said a retired soldier turned okada rider. To join the Army, you are required to have five credits in the

The soldiers are supposed to use those motorcycles merely as a means of transport to their duty posts, not as a means of making money commercially on the streets of Lagos

2. Federal Road Safety Corps (FRSC) Lagos Zonal Command Phone No: 080-77690200; 01-7742771 Sector Commander Phone No: 080-776909201; 01-2881304 FRSC Emergency No: 070-022553772

Senior School Certificate, which must include English Language and Mathematics. These NCOs are regarded as an important component of Army and without them, the army will definitely not function well. But serving and retired soldiers who spoke with CityBeats believed if they had been trained in Information Technology, or made to acquire other skills they would have been more useful to the society. “We were only trained in the art of shooting, our training is focused on how to fight and protect. I hope the younger ones will be better trained so that when they retire, they won’t be riding okada” said another rider soldier at Jibowu. Most soldiers who ride Okada said they don’t have any problem with Agberos. On the few occasions that Agberos tried to collect tax from the soldiers, they were dealt with severely.

’ EMERGENCY LINES 3. LASTMA Emergency Numbers: 080-75005411; 080-60152462 080-23111742; 080-29728371 080-23909364; 080-77551000 01-7904983

4. KAI Brigade Phone Nos: 080-23036632; 0805-5284914 Head office Phone Nos: 01-4703325; 01-7743026 5. Rapid Response Squad (RRS) Phone Nos: 070-55350249; 070-35068242 080-79279349; 080-63299264 070-55462708; 080-65154338

ised that the government is committed to the vocational training for women and the disbursement of soft loans for trainees to eradicate poverty in the society. She said poverty has caused crises in many homes, adding that the Ministry of Women Affairs and Poverty Alleviation receives about 400 cases of wife battering and 10 cases of abuse and molestation daily. “We have embarked on programmes aimed at assisting women and one of them is vocational training which is a continous thing,” she said. CityBeats gathered that soldiers riding Okada are generally referred to as Omo Ijoba (Government Child). Agberos and council officials dread confrontation with the soldiers, which informed why they are always allowed to go scot free unlike their civilian counterpart operators. “We just let them be in the interest of peace in the society,” said Wasiu Alaka, a council official at Ojuelegba. Most of the soldiers said only an increase in remuneration and better conditions of service would discourage them from running okada business. When CityBeats visited Ikeja Cantonment to confirm the story, an officer directed all enquiries to the headquarters of the 83 Division on Kofo Abayomi, Victoria Island, Lagos. The officer, who does not want his name in print, said it is not possible for a soldier to be riding Okada for commercial purposes. “No true serving Nigerian Army officer or soldier, no matter the circumstance and rank will risk going into any business while still in service. The officer, who claimed the officers were well paid, added that even banks give loans to soldiers. “Banks give us loans; do you think banks will give Army men loans when they are not well paid?” However, a resident of the cantonment confirmed that soldiers ride okada for commercial purpose to make ends meet. Nevertheless, the officer sternly warned about impersonators. “Any commercial okada man with Nigerian Army’s sticker and uniform is not a bonafide serving military officer and such a person should be apprehended as an impersonator because no Army officer will do that.”

767 or email: rapidresponsesquad@yahoo.com 6. Health Services – LASAMBUS Ambulance Services Phone Nos: 01-4979844; 01-4979866; 01-4979899; 01-4979888; 01-2637853-4; 080-33057916; 080-33051918-9; 080-29000003-5.

THE NATION

MONDAY, AUGUST 15, 2011

Activist mentors youths

CTIVIST and community leader Comrade Joseph Evah has urged the youth to prepare for leadership roles by insisting on what is right now and influencing the society positively. Evah spoke during the Kofo Ademola Hall week of the University of Lagos. The programme was partly sponsored by Ijaw Monitoring Group (IMG), an organisation which he coordinates. The theme of week was: The greatness of Nigeria lies in the hands of her youths. Addressing the undergraduates, Evah said youths ought to drive positive change in organisations, schools as well as local communities. He said the youths of today are the future of the country as well as its pillars upon which to build. He advised that students should organise themselves into pressure groups and insist on what is good for the country in order to make life meaningful. The IMG has been crusading against the marginalisation of the Niger Delta from which Evah hails. The group is also a strident voice for resource control as well as staunch critic of environmental pollution caused by oil companies. It is equally interested in infrastructural renewal and halting the falling standard of education. Evah said youths should be given

HE developmental efforts of OtoAwori Local Council Development Area, Lagos, chairman, Mr. Bolaji Kayode Robert, have got the attention of an organisation called Concerned Human Rights of Nigeria (CHRN). Comrade Declan Ihekaire, National Coordinator of the group, praised the chairman’s leadership style and his developmental projects. Ihekaire met with Robert at the council secretariat where the chairman was presented with an award. A coalition of civil society

•Coordinator, Ijaw Monitoring Group, Comrade Joseph Evah receiving a plaque from representatives of Kofo Ademola Hall, University PHOTO: ADEJO of Lagos during their 2011 week DAVID for the prize. the students. Awards were also presented By Adejo David The students also appreciation the to the University of Lagos teaching and optimal attention, care and support. activist’s support, and urged individuals non-teaching staff as well as the IMG coThe ceremony featured dancing and coordinator. The comrade thanked the and organizations to see the youths as the drama, both organised and performed by students and the university management future of the country.

Council chief bags award groups collaborated with the rights organisation in conferring the award. The CHRN leader said the award was necessitated by the impression of members of the group who toured the council area. Ihekaire said it is part of the group’s obligations to tour councils to monitor the work their chairmen and also to urge the

grassroots people to hold their leaders accountable. But on touring Otor-Awori council, Ihekaire said he and his team saw impressive work done by the Robert administration. “We were challenged by the numerous infrastructures we saw which should not be left unremembered,” he said. He cited several examples ranging from

•Council boss Robert (right) receiving his award from the visiting rights group

I dedicate the award to the entire workforce, the executive, legislative and management of the council, as I couldn’t have done it alone... A tree cannot make a forest. We pray that God will give us visionary leaders to continue where we will stop...With your support and the challenge you have given us, we will not rest on our oars

primary health centre, construction of new schools and other social amenities which, he said, the people directly benefit from. The CHRN leader said their visit is proof that council chairmen are working, especially in Lagos. He urged people to change their negative perspective about council leaders. He said Lagos deserves more local councils, and should be commended for its progressive work. “Our tour to all the Local Governments and Local Council Development Areas (LCDAs) is to ensure that despite the meager amounts these councils collect, they have performed beyond doubt,” he said. He added that his group will mobilise other civil society organisations to agitate for more local councils when the National Assembly members return from recess. In response, Bolaji Robert saluted the courage of civil society groups across the country to fight and regain the freedom of democracy in the nation. He said they fought without guns, but only through the media. “For the meantime, I have contributed my quota and will continue to do so to develop the area,” he said. “If we have more time, we will still do more.” Robert spoke about the bridge linking IdoOluwo community to other parts of the council, which has been a concern to residents. He said the council’s engineering department has visited the area and that work will commence soon to remedy the situation. “I dedicate the award to the entire workforce, the executive, legislative and management of the council, as I couldn’t have done it alone,” the chairman said. “A tree cannot make a forest. “We pray that God will give us visionary leaders to continue where we will stop. With your support and the challenge you have given us, we will not rest on our oars.” The council manager urged the group to be relentless in its effort to effect positive change in the country. “You should not be tired,” he said. “Keep up the good work; it is easy to be a champion but difficult to remain so.”

THE NATION MONDAY, AUGUST 15, 2011

Council chief warns tax defaulters

•Governor Fayemi

AX and rates defaulters in Oye Local Government Area of Ekiti State have been warned. They have also been cautioned from molesting collectors of rates and taxes. The chairman of the council , Mr Adewale Adekoya, who gave the warnings at a recent stake-holders meeting at Oye-Ekiti, relayed stories of distress brought by tax collectors in the area recently . The council chief regretted that the internally generated revenue of the local

UNICEF, NYSC inaugurate HIV/AIDS project

ORRIED by the increasing rate of HIV/AIDS epidemic among the youths, the United Nations Children’s Fund and the National Youth Service Corps have inaugurated Out-of-School HIV/AIDS project in Akwa Ibom State. The project according to UNICEF’s Field Officer, Charles Nzuki, is to fight HIV epidemic among the youths. Nzuki explained that different surveys had shown that proportionately young people (less than 25 years old) have higher HIV prevalence. He noted that UNICEF for long had been collaborating with other partners to support the implementation of HIV prevention and life skills education to young people through the National Youth Service Corps scheme. The UNICEF’s field officer stated that the project would equip several thousands of inschool young people nationwide every year with the requisite knowledge and skills to prevent HIV infection. Apart from implementing the project in Akwa Ibom, Nzuki said that Out-of-School project on HIV/AIDS has been inaugurated in Kaduna and Cross River states.

Akwa Ibom From Kazeem Ibrahym, Uyo

His words: “In recognition of the need to intensify preventive efforts, this project was conceptualized to focus on using radio drama to provide comprehensive HIV prevention information, life skills and referral for services to out-of-school young people. “The HIV/AIDs National Strategic Framework for Action on HIV/AIDS (2010 – 2015) and the National HIV/AIDS prevention plan identifies young people as a key target group for intervention.” Also, the State Coordinator of NYSC, Aniefiok Okpongete, lamented that for three decades, humanity had been contending with the threat of HIV/AIDS. Okpongete reasoned that in response to the above, in 2003, the “NYSC UNICEF Adolescent Reproductive Health/HIV/AIDs Prevention, Care and Support Project” was launched in Akwa Ibom State to target the in-school youths through the NYSC Peer Education Training (PET) programme.

‘Be worthy ambassadors of your councils’

call has gone to council workers to be good representatives of their local government areas.The call was made by the the Permanent Secretary, Lagos Local Government Service Commission, Mrs Aramide Masha, in Mushin Local Government Area when on a working visit to the place. According to her, “you will naturally be addressed the same way, you dress. If you want the general public to have respect and regard for your council, you will dress neatly and appear like responsible public servants”. Speaking further, she said reports reaching the commission indicate that majority of workers stay away from the office in the morning and appear in the afternoon, only to close at 4.00pm. “In Lagos State, we want enhanced productivity from every worker”, She said. She stated that for any local government to survive, the internally generated revenue must be boosted in order to satisfy the yearnings of the general public on road construction, cleared drained, improved infrastructure in education, health, agriculture and others. She warned council workers against truancy, late coming receipt racketeering, disloyalty and others.

Lagos She said the Local Government Service Commission is poised to facilitate promotion of workers as and when due. She explained that the commission would be willing to transfer officers closest to their places of residence in order to enhance their productivity. She appealed to the political class at council level to provide conducive working environment for the workers to enable them discharge their duties well. She commended the authorities of Mushin Local Government Area for harmonious relationship between the political class and the workers. She stressed the need to promote probity, accountability, transparency, and enhanced productivity. On her entourage were the director in charge of establishment and pension, Mrs Folashade Akiniyemi, Mr Ibrahim Olaniran and Miss I.O. Alaga. The Council Manager, Mushin Council Mrs Aderonke Bello, thanked the Permanent Secretary for the fact-finding visit to the council.

Oyo to provide free medicare

Ekiti government had fallen in recent times and wondered how the people who desire dividends of democracy so fervently would not pay their rates and taxes promptly. Replying , some monarchs and partyleaders present at the meeting promised to convey the feelings of the chairman to their people and assured him that there would be a change of attitude.

Minister to partner Edo on cancer, lassa fever Edo

INISTER of Health, Prof Christian Onyebuchi-Chukwu has solicited the support of the Edo State government to sensitise the people on the danger of cancer. He also appealed to the government o make cancer screening centres available in the state. Speaking during a courtesy visit to the Governor in Benin City, the minister said besides the state government’s efforts in fighting cancer, the state was the first in the country to pass a bill which was signed into law to monitor maternal mortality. He said: “I want you sir, to use the Governors’ Forum to use their Houses of Assembly to do the same. One would also like to see what Edo State has done with that the law. I want is to work together on the issue of the national health plan.” The minister, who lamented that many people die of Lassa fever in the country said: “Lassa fever is common in Nigeria, and as long as we continue to treat every fever like malaria, people will continue to die of Lassa fever.” He urged the people to maintain a healthy lifestyle and keep their environments clean to fight the scourge. Replying, Governor Adams Oshiomhole expressed gratitude to the Federal Government for up grading facilities at the University of Benin Teaching Hospital, noting that, “we are proud of what the hospital is doing”. He lamented deaths attributed to Lassa fever, saying: “we have a responsibility to encourage our people to do whatever can be done to prevent the spread of Lassa fever”. Comrade Oshiomhole noted that government is dealing with rural healthcare challenges by opening up the rural areas, according to him, “the starting point to deliver on healthcare is that the rural community must be accessible, that is why we are opening up the areas in terms of roads.

•From left: Elejirin of Ejirin, Oba AbdulRafiu Balogun, Mudir Markaz, Sheikh Habiebullahi Adam and Senator Ganiyu Solomon during the NTA/MKO Abiola Ramadan lecture, at Tejuoso, Lagos

Lawmaker to empower youths

member of the House of Representatives, representing Ekiti South Federal Constituency 11, Dr Ife Arowosoge, has described the youth as a veritable source of development. Hon. Arowosoge made the declaration at an interactive forum with youths of his constituency which comprises Ekiti South West, Ikere, and Ise/Orun local governments. It was held at Kunle Ayaga Youth Centre, Ilawe Ekiti last week. Specifically, Arowosoge said the interactive session was to fashion out means of ensuring the progress of the youth and to earmark his agenda for them According to him: “Youths should seek selfemployment rather than white-collar jobs which are not available. Youths should start thinking of what to do. Self-reliance is better than seeking jobs or political appointments which cannot go round at a time” He promised to empower them through a cooperative society which will be a channel of giving empowerment to interested youths. He added that the act of giving youths the kind of money that would not have positive impacts on their future by some politicians is condemnable. The lawmaker said his priority is to form a cooperative society to assist the youth of his constituency, adding that the community would also complement his effort by raising funds to assist them. He, however, assured the youths that government would provide enabling environment for them to be self-reliant, but he urged them to shun acts that would destroy their future Replying, a youth representative, Mr Abiodun Adaramodu, praised the lawmaker for keeping his electioneering promises to the youths, saying, “I commend him for not just

Community leader laments incessant HE traditional ruler of Kara robberies town, Ogun State, High Chief

Muritala Gbolagade Babalola, has cried for help over incessant robberies in his domain. Speaking on the latest incident in his home town, Ilaju in the Ido Local Government Area of Oyo State on August 4, around 5.50am, he said some young men, armed with guns and other dangerous weapons, invaded his home and carted away N5million and other valuables while he travelled out of town. The community leader, who also is also the Aslupa of Ido land, said the robbers also attacked the Hausa cattle rearers in the town and the entire

Correction

•From left: Director at the Local Government Service Commission, Mrs Folashade Akinyemi, Alhaja Masha, Chairman, Mushin Local Government Area, Hon Olatunde Adepitan and Mrs Bello during the visit

IN our Wednesday edition, one of the reports was published under the headline: ‘Ex-lawmaker loses father” We have discovered that the revered Senator Adefuye reffered to, actually lost his father-in-law, not his father. The error is regretted. ---- Editor

Ogun market and made away with N24 million. He had s i n c e reported the incident to I d o Divisional P o l i c e Headquarters w h e r e investigation, he said, had commenced . H e appealed to members of t h e •Chief Babalola community to be security consious as life is becoming unsafe. He urged the police authorities to extend patrol services to the community just as he called for vigila nce on the past of all.

Ekiti By Dada Aladelokun

giving us fish but showing us the way to cash , however, urged his fellow youths to make use of the opportunity and embrace better future.

HE Oyo State government is to flag off its free healthcare programme soon . The state governor, Senator Abiola Ajimobi, disclosed this while receiving the management of the Skye Bank, led by its Group Managing Director and Chief Executive Officer, Mr. Kehinde Durosinmi, during a courtesy call on him in his office. According to the governor, the programme will involve the primary, secondary and tertiary health services. Governor Ajimobi also restated the commitment of his administration in improving the socio-economic development of the state through the establishment of acquisition centres in all the 33 Local government areas of the state where the youth will be trained to become small and medium scale industrialists. The governor also revealed his plan to give assistance to farmers to enhance food production and agro allied industries. “Our own agriculture will be supported by agro allied business. It is not just going to be farm but what we can get out of it, what I call intermediate production, where farm produce will be fully utilised” he said. Governor Ajimobi, who disclosed that his administration will soon begin the rehabilitation of schools with the provision of chairs and tables, said that school farming will be reintroduced to encourage the youth to develop interest in agriculture from the early stages, adding that farm settlements in the state will also be rehabilitated.

Oyo

“We will make the introduction of school farming very attractive so that students can develop interest. We will also support them to go into entrepreneurship as this will help the state” he said. Speaking on the Free Trade Zone and the establishment of a Dry Port, Governor Ajimobi said that hectares of land had been allocated to investors, adding that the programme will commence in a couple of weeks. He, therefore, called on the management of the bank to support his administration towards the successful implementation of its various programmes. “We met a state replete with social, educational and infrastructural decadence. Considering the various commercial activities we have in the pipeline, it will only be expedient for your bank to participate; we need support from development partner like your bank,” he said.

•Governor Ajimobi Earlier in his remark, the Group Managing Director and Chief Executive Officer of the Skye Bank Mr. Durosinmi said that his bank had offered a sum of N10billion to Oyo State as bond to assist the government in financing its various programmes.

‘Why I want to be Kosofe chairman’

grassroots politician, Alhaji Sanni Ganiyu Okanlawon, has declared his intention to contest for the chairmanship of Kosofe Local Government Area of Lagos State at the October elections. He said he was motivated by the desire to offer diligent service to the council, assuring that he would fight the infrastructure battle in the area. Action Congress of Nigeria (ACN) sources said that the chairman of the council, Hon. Muyiwa Adedeji, is not likely to vie, since he would be completing two terms in office by October. Okanlawon, former Secretary to the Local Government, will face other aspirants, including Hon. Fatai Gbadebo, Segun AkaBashorun and Mr Sofola, in-law of the party’s deputy chairman, Pa Abiodun Sunmola, at the primaries or selection session. The aspirant joined politics at a tender age in the Second Republic as a secondary school leaver. In Mende, Maryland, where he is an acclaimed youth leader, he had warmed himself to community leaders when he formed the Mende Youth Forum to fight for community interest. In 1999, he became a founding member of the Alliance for Democracy (AD) in Kosofe. As a mark of reposed confidence, party leaders asked

Lagos By Emmanuel Oladesu

him to chair the local government congress committee. Also, in 2004, he was a member of the party’s congress committee in Somolu Council. He contested for the House of Assembly and lost his deposit, but that misfortune did not make him to jump ship as some people did. This year, he was the Election Campaign Coordinator for the House of Assembly in Kosofe area. Okanlawon unfolded an 18-point agenda for the council when he declared his intention. He said the goal is to replicate the achievements of Governor Babatunde Fashola (SAN) at the grassroots. The aspirant added: “I want to start with the computerisation of local government activities, provision of elibrary facilities, massive road construction, and promotion of entrepreneurship through intensive vocational skill acquisition. “I want to provide street lights for, at least, two major streets or roads in each ward to be powered by PHCN and supported by generator. It would be an era of scholarship and bursaries for our indigent students, upgrading of health facilities and poverty alleviation”.

Apapa ACN mobilises for council polls

A •The Arowoshadinni of Nigeria, Alhaja Muyinat Shopiyin-Akande flanked by a manager with First Bank Nig Plc,. Alhaja Fatimat Oyefeso (left) and CEO, Fatty-Gee Ventures, Alhaja Fatimat Gawat during Ramadan lecture in Lagos

Briefly

‘Set up dispute resolution mechanism’ PRESIDENT of Lagos State Chamber of Commerce and Industry (LCCI) , Femi Deru, has urged the state government to set up dispute resolution mechanism that would help address issues on tax implementation in the state. Deru made the call when the Special Adviser to Governor Babatunde Fashola (SAN) on Taxation, Mr. Bola Shodipo and his entourage visited the chamber. He explained that a dispute resolution mechanism that is fair, independent and business-like would in no small measure assist professionals in doing their job effectively and improve the government tax implementation. The president said there was urgent need for the government to put this structure in place, saying that this would inspire confidence of the tax payers. He described the visit as a very important step in promoting understanding between the organised private sector and the government, assuring that the chamber will continue to give its full support to enable it realis e the objectives of the state. He said there was need for government to address issues of multiplicity of taxes and levies especially at the local government level, stressing that the fewer the number of taxes the better for both the authorities and tax payers.

Akpabio urges indigenes to invest AKWA Ibom State indigenes in the Diaspora and other investors have been called upon to take advantage of the state government industrialisation polices and invest in the state. Governor Godswill Akpabio made the call recently in an interview with journalists in Houston, Texas, saying the state government has laid foundation for the industrialisation of the state through aggressive and massive infrastructural development. Corroborating Akpabio’s call, Secretary to Akwa Ibom State government, Mr. Umana Okon Umana said with the construction of over 210 new roads, construction of international airport, completion of 191 megawatts Ibom Power Plant and 85 percent electricity coverage of the state with 1, 400 communities connected to the national grid, the state was ready for industrial take-off. Speaking at a panel discussion on industrialisation organised by Akwa Ibom Diaspora Network (AIDN) at The Westin Houston Memorial City, Houston, Texas, Mr. Umana described the last four years of Chief Godswill Obot Akpabio-led government as a revolution.

Chieftain of the Action Congress of Nigeria (ACN) in Apapa Local Government Area of Lagos State, Otunba Moshood Tijani has urged all competent persons to come out to contest for elective posts in the council polls. He made the call at an interactive session with journalists and members of the party as the ACN mobilised residents in the council for the election recently. He said the party would allow open contest as those that are not wealthy have nothing to fear. Otunba Tijani said merit, competence and loyalty to the party will be the yardsticks just as he enjoined all to massively vote for ACN

Lagos candidates in Apapa Local Government Area and Apapa-Iganmu Local Council Development Area. The party chieftain praised Governor Babatunde Raji Fashola for his giant strides in intrastructural development, reform in education and unprecedented revolution in Internally Generated Revenue drive. He appealed to residents of the council to be law abiding and continue to be loyal to the party as both councils had been central to its overall success.

• Otunba Tijani (fouth from left )with the ACN chairmanship aspirants for Apapa Local Govt and Apapa-Iganmu Local Council Development Area at the meeting

THE NATION MONDAY, AUGUST 15, 2011

CITY BEATS FROM THE GRASSROOTS

Market women protest against council chief

UNDREDS of market women in Epetedo Market, Lagos Island, last week staged a protest against the council Chairman, Wasiu Eshilokun. The aggrieved traders alleged maltreatment and other acts of highhandedness threatening their business and peaceful co-existence. Speaking on behalf of the traders, the Iyaloja of Epetedo market, Alhaja Tawakalitu Onimole, said except something is urgently done, business activities in the market would continue to suffer on the strenght of alleged victimisation by the council government. She said: “We are protesting because we have had enough punishments, from the chairman. We supported his chairmanship ambition and ensured he won based on his promises to make life better for us, but today, he no longer thinks of the public good.” Reacting, Eshilokun denied all the allegations against him. He equally denied knowledge of the protest. Eshilokun, who spoke on telephone, said any grievances against his government should be passed through the appropriate channel. The placard-bearing women, however, insisted Eshilokun should not return as the party’s candidate for a second term. They appealed to the National Leader, Action Congress of Nigeria (ACN), Asiwaju Bola Tinubu, to come to their rescue.

By Musa Odoshimokhe

‘

We urge our leader Asiwaju Tinubu to help us out, because we don't want this chairman any more

’

“We urge our leader Asiwaju Tinubu to help us out, because we don't want this chairman any more.” Onimole maintained that Eshilokun has made life unbearable for traders.

• A cross section of the angry traders

Jonathan's proposal on councils' tenure hailed

HAIRMAN of Itire-Ikate Local Council Development Area Hakeem Bamgbola, has thrown his weight behind the proposed constitutional amendment by President Goodluck Jonathan to fix tenure for local government chairmen. Bamgbola told CityBeats that the amendment was long overdue considering the attitude of some governors towards council administration. The amendment included the abolition of Joint State-Local Gov-

By Tajudeen Adebanjo

ernment Account. The council boss lamented that almost all councils outside the Southwest states have been hijacked and crippled by the governors. “This is predominant in the states controlled by the Peoples Democratic Party (PDP). The issue of fixed tenure is one of the key areas the Federal Government must tackle headlong. It is unhealthy for our country to see states operate different tenure systems for local

ABA Local Council Development Area (LCDA) chairmanship aspirant on the platform of the Action Congress of Nigeria (ACN), Yinus Ibikunle Shabi, has charged members of the public to ensure full participation in the forthcoming council elections. Shabi made the call while addressing residents in the LCDA. He said the local government election is as important as the National and State Assembly elections. He urged them to take their destinies in their hands by voting for their representatives at the grassroots. He said the people of the LCDA deserve more than what has been offered them by the incumbent since 2008, and run an all-inclusive government if given the opportunity to serve. Shabi listed education, health, infrastructure and empowerment as priorities of his administration if elected. He promised to provide buses

By Oziegbe Okoeki

"and I believe I can help in these areas. The Chairman, Jide Jimoh, has done so well, but there is a way I can support him by getting sponsors for some of the projects that he still has to execute in the LCDA, so that together, we can move the LCDA forward in actualising the manifesto of ACN,” she said. The aspirant, who is the DirectorGeneral for Youths and Sports in the LCDA, said she had met with principals of some schools to find out what their needs are and put up proposals to companies for some of such needs like library and boreholes. Mrs. Aremu-Nariwoh, who joined politics in 2002 on the platform of Alliance for Democracy (AD),, was a delegate to the ACN primaries in 2011. “Apart from that, I have organised a programme for the development of youths with the theme,

that funds meant for local governments are being diverted by governors under the guise of joint account.” “These local governments now only manage to pay salaries. Yet, it is the closest government to the grassroots, but the story is different in Lagos. The governor did not only ensure free access to the council's fund by the local government chairmen, he also gave us additional funds to implement capital projects," he said.

Aspirant tasks Lagosians on participation in council poll

‘I’ll partner with companies for development of LCDA’ COUNCILLORSHIP aspirant on the platform of the Action Congress of Nigeria (ACN) in Yaba Local Council Development Area (LCDA), Lagos, Mrs. Oluwaseun AremuNariwoh, has promised to partner with private companies to sponsor programmes that will bring about development to the area. She stated this in a chat with CityBeats while unfolding her plan. “I feel that there are so many things that can be done at the local level to have overall development in the society and as a councillor, I hope to use my position to influence private companies, especially banks to sponsor programmes that will bring about drastic development in my council area.” She said though the council is doing well, she believed that more could still be done in education, sports, health, youth development and human capacity development

governments. This is unacceptable. In fact, it has got to a ridiculous stage that in some states, caretaker committees are in charge for as long as some governors wish. “But the most crucial of the proposed amendment is the one that seeks to abolish the Joint State-Local Government Account. Nearly all the governors have abused this account system," he said. Bamgbola urged other governors to emulate Lagos exceptional gesture in operating the joint account. "Security reports have confirmed

•Mrs. Aremu-Nariwoh

The role of youths in the development of the nation, at the University of Lagos. I have also been able to coopt some of them into leadership programmes in the United States,” she said. Aremu-Nariwoh said if elected she hopes to do more in the area of organising competition for students, enlightenment as per health needs, youth development programmes and others.

By Miriam Ndikanwu

that will convey students to public schools free while learning materials will also be given to government’s efforts in the sector. He said students in institutions of higher learning will get bursary from the council while partnership will be established with the University of Lagos and Yaba College of Technology to train youths on entrepreneurial skills to make them self reliant and de-emphasise white collar jobs. Shabi also highlighted plans to introduce mobile clinic to ensure that health care is brought to the door step of residents. He added that the malaria scourge ravaging the people will be tackled by regular fumigation within the council. Meanwhile, five political groups within the council area have endorsed Ashabi as their candidate. They include; New Vision, City club of Mainland, Platform Group, Mandate Group and Bode Thomas Organisation.

‘Non-listing of councils is slap on democracy’

HE non-listing of the 37 created Local Council Development Areas (LCDA) in Lagos has been described as a slap and bad omen for democracy and African development. A councillorship aspirant on the platform of Action Congress of Nigeria (ACN), in Yaba LCDA, Tajudeen Olujobi, in a chat with CityBeats, said the 37 LCDAs have come to stay. Olujobi said Lagos deserves more than 57 councils “considering its population, pedigree as a former federal capital as well as the commercial nerve centre not only of Nigeria, but also of the West African sub-region.” He also called on the Federal Government to practise true federalism

By Oziegbe Okoeki

by devolving more powers to the states or federating units as it would make it easier for them to create as many local government areas they feel are appropriate for them. On his ambition, Olujobi, who is a Liaison Officer to the LCDA chairman, Jide Jimoh, said as a councillor, he hopes to introduce good bills that will translate into good laws to curb some of the ills in the council area. “I intend to render service to humanity as a legislator at the grassroots, to influence the emergence of good bye-laws that will transform the LCDA and also to rub minds with captains of industry to come into partnership with the council for the

provision of social amenities,” he said. Specifically, he plans to introduce bye-laws on child abuse in Yaba; poverty alleviation for members of his community; support for senior citizens, youths and women advocacy and support for sports development. Olujobi, who has been involved in politics right from his university days, said he has been involved in the politics of the LCDA and has served as publicity secretary of Action Congress in Ward H, Yaba; and for two years, has been the Acting Secretary General of ACN in Ward H Yaba. According to him, he has impacted on his community through donation of UTME and GCE forms to youths;

sponsorship of children for summer lesson; educating the youths on the need to cultivate good habits and campaigning against social vices; assisting widows; supporting entertainment in the community and donation of public address system to the community. “I have an NGO that I run on sanitation with which I have impacted positively on my community as well,” Olujobi said. While frowning at serving councillors for not going back to their constituencies to render account of their stewardship and acquaint themselves with the problems of the community, Olujobi said he would make a difference. “They should count on me and I will not let them down,” he added.

•Olujobi

THE NATION MONDAY, AUGUST 15, 2011

CITY BEATS

CRIME

F THE COURTS SROM ECURITY TIPS

Suspected kidnapper nabbed

ETECTIVES from the State Criminal Investigation Department, Panti, Yaba, Lagos State, have arraigned a suspected kidnapper before an Ebute-Meta Magistrate’s Court, Lagos. The suspect, Kingsley Nwaodu, 30, was alleged to have kidnapped a year-andhalf-old boy, Abdulmalik Yusuf, on May 18, 2011, at Baale Street, Ijora-Badia, Lagos. Detectives trailed him to Imo State, where he took the little boy after demanding money from the parents of the boy. He was arrested and transferred to the State CID for interrogation. He allegedly confessed kidnapping the boy and was arraigned on a one-count charge of kidnapping. The offence, according to the pros-

ecutor, Corporal Babaji Ishaku, is contrary to Section 317 (1) (2) of the Criminal Code, Cap. C17, Vol. 2, Laws of Lagos State of Nigeria, 2003. The charge reads: “That you, Kingsley Nwaodu, 30, on May 18, 2011, at about 7 p.m. at 13, Baale Street, Ijora Badia, in the Lagos Magisterial District did steal a boy of about one and half year old, Abdulmalik Yusuf, from the lawful care of parents/ guardian without a just cause and thereby committed an offence punishable under Section 317 (1) (2) of the Criminal Code, Cap. C17, Vol. 2, Laws of Lagos State of Nigeria, 2003.” He pleaded not guilty to the charge. Mrs. Joy Ugbomoiko, the presiding

• • • • • • • • • • •

•Jinadu

magistrate, granted him bail for N100,000 with two sureties in like sum. The sureties, she ordered must show evidence of three years tax payment to the Lagos State government; means of livelihood and must be residents of Lagos. The case has been adjourned till September 6 for mention.

Man jailed for stealing employer's N Apapa Magistrate absconded. He was later N2.3m Court has sentenced found in Benue State.

a man to two years imprisonment for stealing N2.3 million belonging to Mrs. Omonzane Deborah. Johnson Gabrial Agbo was convicted for stealing his employer’s money, an offence punishable under Section 390 [9] of the Penal Code.

By Emmanuel Udodinma

Police Prosecutor Inspector Benedict Uwananwa told the court that the complainant reported that she withdrew money from a bank and kept it inside a car. According to her, the accused stole the money and

The accused pleaded guilty to the offence. The Police stated further that during investigation, it was discovered that the accused was building a house. Magistrate A.O.Adeleja sentenced him to three years imprisonment without an option of fine.

MISSING PERSONS 1.

One Benjamin Onuikpu ‘m’ aged 30yrs about 4.8ft tall fair complexion, speaks English and Hausa Languages fluently. If seen contact one Monisola Adetola ‘f’ of Block 94 Flat, 1 Jakande Estate Isolo or Festac Police Station.

One Victor Emein ‘m’ aged 14yrs old, about 4ft tall, light in complexion, speaks Pidgin English and Isan Language fluently. If seen contact One Jelugbo Olalehen ‘m’ of No. 3, Jacob Shonola Street, Oke-Ira Ogba Lagos or Area ‘G’ Ogba.

One Mbafam ‘f’ normally called Blessing aged 12yrs old, about 5ft tall, fair in complexion, speaks English and Tiv Language fluently. If seen contact Chika Ude ‘m’ of Anglican Quarters Age Mowo or Morogbo Police Station.

One Esther Omokhafe ‘f’ aged 25yrs old about 5.2ft tall, light in complexion, speaks Yoruba, Otuo and Pidgin English fluently. If seen contact Mr Sylvester Omokhafe ‘m’ of No. 41, Eyin Ogun Street, Mafoluku Oshodi, Lagos or Alausa Police Station.

One Biodun Adebayo ‘m’ aged 14yrs old about 4ft tall, fair in complexion, speaks Yoruba and English Languages fluently. If seen contact Mrs. Felicia Ajila ‘f’ of No. 1, Solomon Gagakuma Street, Igando Lagos or Makinde Police Station.

One Oluwakemi Gbelee ‘f’ aged 38yrs old about 5ft tall, light in complexion, speaks Yoruba and English Languages fluently. If seen contact Omotayo Gbelee ‘m’ of No. 56, Candos Road Baruwa Ipaja or Ipaja Station. STOLEN VEHICLES

One Honda CRV Jeep with Reg. No. MW 843 AAA Colour White with Chassis No. JHLRD1878Y5005615 and Engine No. B20223007681. If seen contact any nearest Police Station or Area ‘G’ Ogba Police Station.

One Honda Accord with Reg. No. JU 271 EKY Colour Dark Green with Chassis No. IHGCG5668YA805317 and Engine No. F23A13051072. If seen contact any nearest Police Station or Iponri Police Station.

One Mack Truck Trailer with Reg. No. XS 883 KTU Colour Blue with Engine No. 5481AP81218566 and Chassis No. IM2N187Y4F007237. If seen contact one Larry Maghori ‘m’ of No. 1, Happy Home Avenue Kirikiri Industrial Estate Lagos or Itire Police Station.

One Honda CRV Jeep with Reg. No. EA 401 FST Colour Gold with Engine No. 1320843079444 and Chassis No. JNLRD1868WO84685. If seen contact one Ademolu Olubode ‘m’ of No. 15, Iju Road, Fagba or Iju Police Station.

Man goes to jail for N80,000 fraud

28-YEAR-OLD man, Jude Okafor, has been sentenced to six months in prison for attempting to use a fake withdrawal slip to cash N80,000 from Diamond Bank. Magistrate MKO Fadeyi of the Surulere Magistrates' Court, Lagos, directed that the sentence was with hard labour. "Having pleaded guilty, I hereby sentence you to six

months in prison with hard labour," he said. The prosecutor, Sgt. Onime Idowu, had earlier told the court that the convict committed the offence on August 2 He said the convict committed the offence at the bank's branch at Tejuosho, Lagos. He said he committed the crime when he pre-

sented a fake withdrawal deposit slip supposedly belonging to one Mr Emmanuel Okoye. Idowu said Okafor wanted to use the dud slip, with a fake account number and a forged signature, to withdraw the money. Idowu said the offence contravened Section 390 of the Criminal Code, Laws of Lagos State.

19-year-old arraigned for allegedly 19-YEAR-OLD man, stealing N175 Ayobami said the offences Kenneth Ehohe, was contravened Sections 390 and

on Monday docked at an Itire Chief Magistrates' Court, Lagos, for allegedly stealing N175. The News Agency of Nigeria (NAN) reports that the accused, who is facing a twocount charge of felony and stealing, however, pleaded not guilty.

The prosecutor, Inspector Lucky Iferegomoni, said the accused broke into a shop belonging to one Mr Durodola Ayobami at 47, Dosumu St., Itire and stole the money. According to him, the accused broke into the shop at about 1 p.m. on July 27.

Be cautious when entering private vehicles that operate as taxis Avoid spending the night with free women In crowded bus stops, hold tight to your bags and pockets in order not to be robbed by pick pockets Do not leave your children with strangers, especially in religious places of worship. Always secure your residence by locking up the place. Do not allow a stranger to embrace you in the public as such person may be out to pick your wallet Mind how you leave your car with strangers as some may be robbers. Be observant inside and outside bank premises in order not to be trailed by robbers. Provide adequate security for cash in transit, including the use of police escort. Also stop keeping money or valuables inside your car. Help the police to help you. Let us join hands to rid our society of crime. It is our collective responsibility. Report suspicious movement within your vicinity to the Police. Never confront crimi nals as your life is very important. Call the police on the following numbers: Police Control Room 1 emergency/distress call telephone numbers 07055350249, 07035068242, RRS Control 2 Alausa 08065154338, 07055462708, Control Room 3 SHQ: 08079279349, 08063299264 and 767 Toll free line.

414 of Criminal Code, Laws of Lagos State. Chief Magistrate Abimbola Awogboro granted the accused bail for N2,000 with one surety in like sum, who must be his blood relation. She adjourned the case till September 15 for further hearing.

•From left: Deputy Commissioner,Operations, Mr Tunde Sobulo; Alhaji Basheer Hamza; Commissioner of Police, Lagos State Command, Mr Yakubu Alkali and Mr Vikas Kane, during the presentation of 300 traffic stands to the command. PHOTO: JUDE ISIGUZO

RECOVERED VEHICLES The Lagos State Police Command recovered a total number of 28 vehicles from 18th - 23rd May, 2011 suspected to have been stolen from different location in Lagos and the vehicles can be located at the station mentioned against each of the recovered vehicles as follows:S/NO

NAMES OF VEHICLE

REG. NO

COLOUR

LOCATION

1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28.

HONDA ACCORD TOYOTA 4 RUNNER HONDA ACCORD TOYOTA COROLLA HONDA ACCORD NISSAN PATHFINDER NISSAN QUEST NISSAN QUEST TOYOTA 4 RUNNER JEEP NISSAN PRIMERA TOYOTA 4 RUNNER JEEP TOYOTA SIENNA BUS FORD TAURUS S/CAR TOYOTA CAMRY HONDA ACCORD HONDA CRV JEEP HONDA BULLET MAZDA BUS M/BENZ 190 S/CAR TOYOTA CAMRY HONDA CRV JEEP M/BENZ V/BOOT HONDA CRV JEEP TOYOTA COROLLA MONTERO OPEL HYUNDAI ACCENT V/WAGON GOLF TOYOTA AVALON

SM 974 KJA EP 61 KRD SD 242 KJA DY 489 AAA DN 623 LSD FW 449 LSR DE 934 RBC NW 137 AAA CS 239 MUS JF 80 KJA 473 APP CB 100 RCH NT 985 AAA EK 715 LSR LV 252 EKY GP 315 ABC CN 230 LSR XM 713 AKD EL 749 LND EH 612 EKY BV 297 APP BL 541 KRD BR 527 FST ET 758 LND CW 505 MUS KY 346 AAA XM 363 MUS DK 370 FST

BLACK GOLD GREY ASH BLACK BLACK GOLD L/BLUE BLACK ASH GREY ASH D/BROWN GOLD BLACK GREY BLUE WHITE YELLOW ASH BLACK BLACK BLACK BLACK GREEN ASH LSCC ASH

RRS HQTR AREA ‘D’ ILASAMAJA DENTON IJESHA LAYENI GOWON ESTATE SABO IKORODU OKO OBA STD IKEJA AREA ‘G’ HQTR IJANIKIN ADENIJI ADELE MAROKO TRINITY ALAKARA OKOKOMAIKO IGANDO EPE ILASAN IGANDO ORILE MAROKO DENTON ELERE ANTHONY ONIREKE

Members of the public who have claims to the recovered vehicles should check at the police station mentioned against each recovered vehicles with original documents. Claimants should endeavour to check the engine numbers as the original registration numbers may have been tampered with.

THE NATION MONDAY, AUGUST 15, 2011

CITY BEATS B

ANKS and financial institutions are saddled with the responsibility of keeping money, and valuable items for safety on behalf of customers. They also give loans to those that require it for personal or business use. But before the advent of banks as we know it today, there was Ajo as it is commonly called by the Yoruba or Esusu by the Igbo which is a means of saving money for future use. Contributors save a particular amount of money daily, weekly or monthly over a period of time and then collect a lump sum to execute a particular project or expand their business. Baba Tajudeen, an Ajo man, who has been in the business for close to eight years, boasts of about 100 contributors. He lives in Egbeda area of Lagos and has his clientele among traders, tailors, hair stylists, restauranteurs and hawkers. He sheds light on his daily situation. “Contributions come in two categories. First, we have the one called Esu. It involves a group of people ranging from two to five persons or even more. They come together and decide to save money with one another. The contributions can range from N1,000 to N100,000 per week,” he said. “These people tag themselves with a number. At the end of the week or month, the first person collects the money, the following

Esusu: A traditional saving culture that refuses to die

• Femi

•Dapo By Abike Hassan

week, the second person collects the money and so it goes till the cycle is completed,” he said. He added that contributors in this category are usually colleagues in the office, school, social club, or factory. Due to their source of income, they can contribute huge

sums. Most co-operative societies are found in this category. “The second kind of contribution is called Ajo. I am involved in this kind. Ajo entails a particular individual going from one business person to the other collecting a specific amount of money from them for safekeeping. The money can

‘My plans for Agboyi Ketu LCDA’

ECRETARY of Agboyi Ketu Local Council Development Area of Lagos State, Gbenga Osobu, has outlined his plans for the council if he is elected as chairman in the forthcoming local government elections. Speaking with CityBeats, Osobu, who was quite confident of his chances at the polls, said he would introduce emergency clinic services to cater for the residents of the council. He said: “How it will work is that if anyone has an emergency medical problem, you can call the clinic and within minutes, our personnel will reach you and take the patient

‘

This has never happened before in the history of local government administration in this country, but during my tenure, it will be done

’

By Dada Aladelokun

to the hospital. This has never happened before in the history of local government administration in this country, but during my tenure, it would be done.'' The chairmanship aspirant also said he would complement the state government's effort in the provision of qualitative health care by introducing mobile health clinics in the council area. On road construction, Osobu said he has produced a blueprint, which will address the problem. ”We are going to tackle the issue of road in a very methodical manner. I have the statistics of the number of roads in the council; the ones under construction, those that need minor rehabilitation and the rest that are in bad conditions. With this, we would not tackle the problem in a haphazard way,”' he revealed. The council scribe, who is also the chairman of the League of Council Secretaries in Lagos State, said he is not perturbed about the enormity of the problems in the council, as he is confident of generating enough revenue to fund his programmes for the people.”

Part of our plan to make this happen is by motivating our staff and I know that once the people in the council can see that we cater for their welfare, they will willingly pay their tax without coercion. I intend to introduce an award for the best revenue collecting staff and also provide an enabling environment for the workers. Osobu commended the former Governor of Lagos State and National Leader of Action Congress of Nigeria, Asiwaju Bola Ahmed Tinubu for his vision in creating 37 LCDAs, calling on other states to visit Lagos State and learn what grass root administration is all about. He added: ”It takes guts and courage to do what the Asiwaju did. Those who thought the new councils would die have been put to shame. The new councils have brought development closer to the people and Lagos State is the better for it.” The former student and pro-democracy activist also praise for Governor Babatunde Fashola for building on the lofty legacies left behind by Asiwaju Tinubu in the infrastructural development of the state.”

•The Council Manager, Ifako-Ijaiye, Mr AbdulRafiu Fashola (middle) flanked by Mr Dare Bello and Miss Yemisi Salau, participants at a five-day orientation workshop for junior workers

range from N50 to N500 per day. I collect N200 per day. I don't collect higher, but can collect lesser,” Baba Tajudeen said. “When I get a new customer I give him a card free, where he can tick his daily contributions against the date he gives me his money. I give them free to attract them and work on their loyalty and trust. But in the event the card gets missing, the said contributor will pay for a new one. The card can cost between N100 and N150,” he added. “At the end of the month, I give back each individual his contributions, but I remove a day's worth of contribution. Even if he or she makes only five days worth of contributions, I still take a day's money for myself. This money is my profit,” he declared.

“My greatest challenge are the micro finance banks, especially the ones located in markets. Their emergence has led to a decline in business.These micro finance banks have a lot of marketers who go to the market everyday, persuading people to save with them. Before you know it, my customers run to these banks and cut me short of my profits,”he lamented. “Others are armed robbers and fraudsters. Most times we are the targets of these bad men. They wait for us to complete our daily collections and attack us on our way home. Some even go as far as robbing us in the middle of the night at home. This has led many of us to take the money to the bank before the end of the day,” he added. Oluwadapo Bello, a tailor in Ikotun, recounted his experience with Ajo men.”I have been giving Ajo men my money for about four years now and it has been a bitter sweet experience. When I started my business I realised that I needed to save, but I couldn't take my N100 to the bank to save. I decided that Ajo was the only way out,” he declared. At first, I was skeptical about him, but I was relaxed when I found out from other people that he was trustworthy. I started with a daily contribution of N100, then with time I moved up to N200 per day. At the end of the month, I collected my money and used it to buy materials to aid my sewing. “I remember a Christmas season. I had increased my daily contribution to N300 per day only for my Ajo man to be duped by fraudsters. He was lured by men selling emulsion paint to their warehouse and was convinced to invest money in the product because at that time emulsion paint was scarce in the market. Our Ajo man used our savings to invest, and was duped. That incident set me back in my home and my business,” he said.

Govt needs N30b to rescue Alpha beach

AGOS State Government requires about N30 billion to contain the environmental disaster looming at the Alpha Beach in Eti-Osa axis of the state, the Commissioner for Waterfront Infrastructure Development, Prince Adesegun Oniru, has said. Speaking at an interaction session with journalists in Alausa at the weekend, Oniru explained that the government spent about N6.5billion to find a lasting solution to the position at the Bar Beach, which according to him, is about 1.5km, where Alpha Beach is about five kilometres. “We did a kilometre and a half the Lagos Bar beach for about N6.5billion. So, the length of erosion problem in Alpha Beach and the price of materials is what will determine the cost of the project. The length of the area in Alpha Beach that has erosion problem which we need to address is between three and five killometres.” He reiterated that the Federal Government was aware of the situation, adding that President Goodluck Jonathan has promised to assist the state curtail the situation. “The state government wrote to

By Miriam Ndikanwu

Mr. President and he was shocked to see the devastating impact the erosion has and he has promised to help. “Now, we are asking Mr President and the Federal Government to deliver that help to us because the magnitude of the erosion problem is just disaster looming. It was recorded that about two weeks in that area, about 20 metres of coastline was lost to the ocean in that area. “This is not a Lagos State problem, but the federation problem, what nature is now doing with the Atlantic is redefining the boundary of Nigeria.” Oniru also dismissed allegations that the devastating flood witnessed in the state on July 10 was caused by the Eko Atlantic City Project, saying that the project was a step in the right direction by the government. “Let me put your mind at rest that nothing that happened on July 13 was caused by Eko Atlantic city. Now if there were scientific proof I will like to see it, but let me assure you that it is not, while will the work in VI flood Agege and other areas of the state.”

MONDAY, AUGUST 15, 2011

CITYBEATS

QUOTE

OF THE

WEEK

“We are not going to relent in our determination to rid Lagos of crime. What we are doing now, is to prepare ahead of the ‘ember’ months, which is always characterised by unacceptable conducts.” Lagos State Police Commissioner, Yakubu Alkali, on the activities of the police command last week.

Poultry farmers seek assistance

HE Poultry Association of Nigeria (PAN), Lagos Chapter, has urged governments in the Southwest to collaborate to fashion out lasting solutions to the problems confronting agriculture in the region. Its President, Adedotun Agbojo, made the call when he led other officials on a visit to the Commissioner for Agriculture, Gbolahan Lawal. Agbojo said the body had come to intimate the government with the challenges confronting it as well as commend the efforts of the governor on improving agriculture. He urged the commissioner to facilitate a forum for commissioners of agriculture in the Southwest to brainstorm on how to cushion the challenges of the industry including providing land to cultivate their produce. According to him, the industry is plagued by the challenge of producing feeds locallyand is at risk of going out of business as foreign competitors have taken over. "We look at the input which forms about 75 percent of our feeds and the cost is affecting the input and the price we are selling our final products is not commensurate with the cost. So, we are looking at a situation where we can partner with the government to find lasting solutions to the challenges we are facing concerning the inputs". “If the cost is right, we have the capacity to produce, because the first issue is that when the cost is high many people will run out of business, they won't be able to produce. For instance, to import maize will cost about N55,000 per metric tonnes, but the local maize is about N70,000, you can see the difference in cost price. So, a lot of people are going out of business. But with management and participation of the gov-

• Mrs. Olabisi Hamilton (Treasurer), Mr Lanre Balogun (Past Chairman), Mr Agbojo (Chairman); Commissioner for Agriculture, Mr Lawal and Vice Chairman, Agege Zone, Mr Raymond Isiadinso By Miriam Ndikanwu

ernment, I believe we will be able to produce the capacity we need and even export to neighboring countries,” Agbojo said. He canvassed short-term measures to address immediate problems, and appealed to the State Government to provide land

‘

for its members to boost their input. The commissioner assured the association that the government will proffer solutions to their problem. “We have to find solution to it because we do not want them to go out of business. The poultry business is a very critical business, they employ so many people and govern-

If the cost is right, we have the capacity to produce, because the first issue is that when the cost is high many people will run out of business, they won't be able to produce

ment will do all it can to assist them", he said. He said the state government will fashion out measures to give capacity building to farmers to equip them with the knowledge and technical knowhow of the latest innovations in agriculture. “This will enable them to scale up their productivity. What they are making per hectare, we can increase it and also those in the piggery industry, we need to help them improve their productivity. The Oke-Aro pig farmers are the largest in West Africa so the challenges of infrastructures, the government will do what it can to assist them.”

’ NGO gives N.5m, motorcycle to father of triplets

ATHER of a set of triplets, Mr. Ololewe last week got a N500,000 cash gift and a motorcycle from a Non-Governmental Organisation (NGO), Fatima Charity Foundation (FCT). The organisation said the gifts were in response to the cry for help by the father of the

By Paul Oluwakoya

babies in The Nation newspaper, shortly after the birth of the children at the Lagos University Teaching Hospital (LUTH). Ololewe, a commercial motorcyclist couldn't believe the rain of gifts from the organisation.

He said: “I couldn't believe it when I received a call from the Foundation to again come and pick this motorcycle.This same good Foundation had earlier assisted my family with N500,000 to cater for my wife and the babies. I must tell you the pregnancy was a mistake and it, unfortunately,

• Mrs Kafaru Tinubu, Alhaja Bintu-Fatima (fourth right), assisted by members of FCT, presents keys of the new motorcycle to Mr Ololowe, at Oando Filling Station, Ikoyi, Lagos PHOTO: PAUL OLUWAKOYA

produced three To enjoy babies. I had to run Allah’s away when my wife put to bed. Why? benevolence, How do I take care of we must give them? I had no hope. I had no money to pay out to the less privileged the hospital bill. My family members were not forthcoming with any assistance. The okada that I was riding before was not mine. The owner collected it from me because I was indebted to him. The little money I saved finished on drugs during my wife's pregnancy.” Describing the NGO as God-sent, he said: “I don't know anybody but God has used this organisation which read about my predicament in The Nation. They have successfully made me believe that my triplets are a blessings to me because they gave my wife a lot of baby materials to take care of the babies besides the money and now they gave me a motorbike. Meanwhile speaking with CityBeats, the president of the Foundation Hajia Bintu Fatima Tinubu, said: “What we are after is to put succour and smile on the face of the less privileged irrespective of their tribe, religion and social class. We gave him the motorcycle so that he can use it for commercial purposes to fend for his family. “FCT is a non-governmental and non-political foundation which is committed to the promotion of goodness, fairness and justice in the society. We read about this man's story (Mr Ololewe) in The Nation and the foundation was moved. Allah has blessed mankind and to further enjoy this benevolence we must give out to the less privileges. It is important to take advantage of this holy month to seek Allah's forgiveness, His protection and guidance, His mercy and blessing.”

SEND YOUR STORIES, VIDEOS AND PICTURES TO CITY BEATS at ynotcitybeats@gmail.com OR SEND AN SMS TO 08033054340

THE NATION MONDAY, AUGUST 15, 2011

Without doubt, financial and other forms of assistance to students are a key fundamental investment not only in the future of the students but also to the society at large

Foundation launched for poor, disabled children

IVING to the needy is a noble thing, but giving to promote education among the less-privileged is even more noble. Those were the words of Dr. Olugbemi Akinkoye, chairman of Board of Trustees (BOT) of a foundation launched in memory of Mrs Beatrice Olajide Ajayi. But the beneficiaries are the physically challenged, the poor and the downtrodden. The funds raised by the foundation will be used to educate this category of Nigerians. The late Beatrice Ajayi was the wife of foremost Professor of medicine, Olajide Ajayi, who was once Chief Medical Director of University College Hospital (UCH), Ibadan, and also of Olabisi Onabanjo University Teaching Hospital (OOUTH), Sagamu, Ogun State. The occasion attracted eminent personalities in the medical field, business world, academia, as well as professionals in diverse fields. The maiden beneficiaries of the foundation were carefully selected to reflect the educational and ethnic background of the couple. Professor Olajide Ajayi said the foundation is a way of showing gratitude to God who made him survive the vicissitudes of life after being orphaned at a tender age. Emeritus professor of medicine, Akin Mabogunje, chairman of the occasion, said he had known the Ajayis for decades. He told members of the foundation’s BOT to ensure that the foundation sustains the project “so that wherever the late Mrs. Ajayi is, she must be happy with what her family is doing after her.” Mabogunje listed the objectives of the Beatrice Olujide Ajayi Foundationto include the provision of financial assistance to the less privileged, the physically challenged, the poor, and brilliant but indigent students so that they can have good education. Chairman of the (BOT), Dr. Olugbemi Akinkoye added that the foundation will, among other things, provide relief for children who are victims of natural disasters and epidemics such as poliomyelitis and cerebro-spinal meningitis. He said the foundation hopes to raise funds through investments, donations, gifts, bequests and grants from individuals, corporate bodies, and other credible sources. “Without doubt, financial and other forms of assistance to students are a key fundamental investment not only in the future of the students but also to the society at large,” he said. Quoting former American President Bill Clinton, Sir Koye, as he is fondly called by admirers, stated that providing education unlocks the potential of children, adding that

•Beneficiaries of the foundation By Oseheye Okwuofu, Ibadan

one of such children could turn out to be tomorrow’s Albert Einstein. He informed that the beneficiaries are students selected from schools in Oyo, Ogun and Lagos states who were screened by members of the BOT in partnership with teachers and officers of the schools. He added that in the past three months, he has been a regular visitor to the Cheshire Junior Secondary Schools 1 and 11 where he observed the difficulties many physically challenged students face in the schools. One of the challenges is that the school did not provide for walkways and ramps to facilitate the movement of those students between classroom blocks. Six of the students of the physically challenged environment were provided with wheelchairs which the BOT chair confessed will only solve 75 per cent of their mobility problems. Akinkoye urged donors to come to the aid of the students in the construction of ramps and walkways whose cost he estimated at N350, 000. Other schools where beneficiaries of the foundation were selected included Queens’s School I and II. Two students were selected from each of them. From Baptist Model School, Eruwa and Apode Senior School, also

Commissioner urges workers to be vigilant T HE Imo State Commissioner for Information and Strategy, Dr. Obinna Duruji has advocated for security consciousness among workers. Addressing workers of the ministry in Owerri, Imo State capital, he enjoined them to play safe and be watchful, adding that with the current spate of kidnapping, they are their own best security apparatus. The commissioner advised them to show spirit of patriotism and take their job seriously so as to be productive to the state and the nation at large. According to him, utmost discipline is vital to the success of every worker, especially those in the Ministry of Information who are the image makers of the government. He reminded them that the Rescue Mission is like a task force that cannot be held hostage by protocols. He directed the management to constitute an award committee comprising two junior staff and

From Emma Mgbeahurike, Owerri

three senior staff for best employee of the month to be sponsored by him. The commissioner advised them to shun gossip and loitering, even as he commended them for keeping their environment clean. While commiserating with the workers on the death of their member, Mathew Anyanwu, he pledged to give assistance in the provision of vehicles for the burial and also promised to help the Staff Welfare Association to acquire a bus in the next 90 days. In his speech, the Director of Administration and Finance, Mr. Ibeneme Uzoukwu gave his words and reassured the commissioner of their preparedness to work in consonance of the Rescue Mission Agenda of the state government.

•Some of the participants at the event in Eruwa, a student was picked each. Holy Child College and CMS, both in Lagos, provided three and two students respectively, while four were taken Ijebu-Ode Grammar School. In all the foundation coughed out N1, 47, 100 for all the beneficiaries. Akinkoye called on the authorities of universities and polytechnics and other educational institutions to make their learning environment friendly for all physically challenged by providing convenient walkways and ramps to link their lecture halls, libraries and other facilities. Sir Koye said the foundation will be run in line with modern trends, which includes investing seed funds very wisely for a specific time period and thereafter utilising the proceeds to sustain the foundation. “However, in order to grow the funds available and hedge against inflation and fluctuations of the currency, foundations must always seek and accept donations and contributions from people who wish to contribute and make a difference,” he said. He urged the leaders to borrow a leaf from the late sage, Chief Obafemi Awolowo in the area of free primary education. The professor said the deplorable state of the nation’s health care delivery system is a reflection of the state of infrastructural development in the country. He posited that education is the key to development, saying no country can profess to develop its health sector without first

developing its infrastructure. He described education as the pillar upon which all developments, including health, rest, hence the urgent need by the government to look inwards and re-strategise towards making education accessible to all. He pointed out that health issues should not be left to the Ministry of Health alone since it will not be able to provide good water and food for the citizens, and develop infrastructure needed for the attainment of good health for the people. “It is not possible to tell or explain the value of immunisation to an illiterate,” he said. “That’s why the late sage Obafemi Awolowo started where we ought to start; he started free education and besides, there was a conscious plan to generate finance to fund it through creation of boards.” The former CMD of UCH said that they disbursed the sum of N1, 475,100 to 23 indigent students from some selected primary and secondary schools in Oyo, Lagos and Ogun states in the first batch of the award. Atolagbe Damilola, one of the recipients of the award, was given N151, 500. Onuora Tacey of Holy Child College, Lagos got 119, 500, while Azees Mariam of Chelshire Junior School, Ibadan was given a wheelchair worth N30,000. Noah Roda of Queens School, Ibadan got N50,000. Ibitoye Motunrayo of Holy Child got N119, 500, Sambo Veronica, N119, 500 and Akinyosade Darafunmi of Ijebu-Ode Gramar School who received N43, 000.

JOBS THE NATION

Website:- http://www.thenationonlineng.com

THE NATION MONDAY, AUGUST 15, 2011

• A male nurse at work.

Men in women’s field J

OANA Ekpo (not real name) is a nurse. She has been part of more than 500 births as an obstetrics nurse. She is in bond with many families that visit the hospital where she works. This is because she works with them to help bring their babies into the world. As an obstetrics nurse, she provides more than just medical care for mothers and their babies. She works hard to banish any fear women in labour may have, providing relief to pain and offering the muchneeded soothing touch. She also attends to prospective parents and supports new families. Ekpo chose obstetrics nursing because she appreciates child birth and wants to be part of the delivery. Elder Isaiah Badejo, is a highly qualified male nurse. Badejo, Chairman, Lagos Branch, National Association of Nigeria Nurses and Midwives (NANNM) loves babies and new moms and will like to be a part of child delivery everyday. But the Nigerian society doesn’t recognise male midwives.

When you think of a nurse, you’ll probably visualise a woman dressed in a white uniform. But the face of nursing is changing. More men are entering the profession because they’ve realised that nursing is a highly respected, technical field that pays well. But there are challenges. DANIEL ESSIET reports. Even if Badejo is the highest qualified mid -wife, he will not be allowed to work in the labour ward of most hospitals. Professionally, male nurses are not inadequate. They can handle post partum bleeding and perform an episiotomy. It is only cesarian sections that go beyond their scope. Badejo said male nurses are taught how to handle the checking-in procedure for expectant mums. They can teach breastfeeding classes. He said male nurses will do well if they are assigned to the labour unit to help pregnant women to deliver babies. Badejo said male midwives are caring although they might not be able to express empathy the same way a female might. Men in the nursing field, he noted, display a style of caring and empathy that exhibits some sense of masculinity. Badejo said men in nursing often find themselves discriminated against, especially in the area of obstetrics. The question is: if an obstetrics doctor can be male why can a man not be a midwife? He said it is not correct to reject a male nurse and accept a male doctor.

Doctors and certified midwives, he explained, are health service providers. According to him, male nurses are required to complete midwifery course as part of the degree in nursing programme and questioned why they are prevented from playing a role in maternity when they cannot meet all the requirements without having been there. A general complaint from male nurses and students in the maternity ward in places such as the United Kingdom and United States is about being treated differently. Some complain of the obstetrics clinic being uncomfortable for them. When in school a lot of male nurses are not present during delivery because the women/husbands do not want a male student. Female nurses would ask them to wait outside the patient’s room while they go in to ask if it is ok, if a male nursing student can come into the room. But the female co-students would enter patients’ rooms together, working as a team. There is an unofficial ban on male nurses in labour and delivery rooms. The argument is that the patients would be uncomfortable

if a male nurse looked after them. Having male nurses performing vaginal exams would add to the patient’s distress and anxiety. On the whole, Badejo enjoys being a nurse. Working with the Lagos State government provides him opportunities for growth and change. He said male nurses in the state are enjoying financial rewards and opportunities such as other professions. Nursing has provided him everything that a man needs: a career, job safety, enlivening and fast-paced work environment. Badejo told The Nation he is never bored because there is always the ability to do something different and experience new things. He said many people underestimate the benefits of going into the nursing field. Badejo said there are opportunities for male nurses to work as registered nurses in emergency rooms, intensive care units, operating rooms among others. • Continued on page 38

THE NATION MONDAY, AUGUST 15, 2011

JOBS

Men in women’s world •Continued from page 37

Male nurses are needed in many areas. Another area is ambulatory care. Ambulatory care nurses provide health service types outside traditional hospital environment. Internationally, they are highly skilled. They need to be able to quickly assess patients and create a care plan. They must be able to work independently and with a wide variety of medical disciplines. One outstanding virtue of practitioners is the ability to exhibit calmness and remain focused in the face of emergencies. Incontrovertibly, male nurses are better here. They can excel as flight nurses. But they need training in life support systems and experience working in emergency situations. They perform the necessary medical care while airlifting patients to safety and to the proper medical facilities. Generally, they travel with private patients that suffer from dangerous medical conditions during airline flights to ensure their safety. Like ambulance nursing, the job involves critical care, emergency medical services and disaster response services to patients prior to hospital admittance. They have to

be medically sound to make life and death decisions very quickly. Most times, they can work with patients located in remote areas that can’t reach hospitals in time or disaster sites such as car accidents and scenes of natural disasters. The Deputy National President, National Association of Nigeria Nurses and Midwives, Comrade Olufemi Tonade said the perception that it is unsuitable for men to work in maternity wards is widespread. Certain cultural sensitivities, he maintained, exist that make it difficult for nurses to care for patients of the opposite gender. And those male nurses can’t care for female patients. He said male student nurses are restricted in how much practical experience they may have in women’s health. According to him, there is no admission for men to undergo midwifery courses. He said they can take up midwifery as part of a degree programme. But he explaining that this may change as more men enroll in nursing programmes. On the balance, Tonade, a top flight psychiatric nurse, told The Nation that the few male nurses in

• Tonade

• Badejo

the country are a privileged minority. To him, the major rationale for attracting men into nursing is to raise the prestige of the profession as a whole. He posited that the crusade for better conditions of service and improvement in remuneration of nurses is succeeding because male nurses are involved. As a psychiatric nurse, he treats patients of all ages and deals with people diagnosed with conditions such as schizophrenia, bipolar disorder, depression, and psychosis. He administers medication; teaches patients and their loved

ones how to deal with the behavioral challenges inherent in patients suffering from mental disturbance. By virtue of his training, he is adept at understanding and empathizing with a variety of people from all walks of life. He emphasised that nursing is a growing profession that needs the talent and commitment of men and women to promote growth. Tonade said there is a lot more to nursing than some people give credit. He does not understand why gender is a factor when people per-

ceive the occupation. According to him, the choice of a female nurse over male nurse is partly personal preference. Tonade said there are no areas that male nurses are not doing well except in midwifery. According to him, there is probably no area in nursing that requires the delivery of such high levels of intimate care than obstetrics. Across the country, male nurses have distanced themselves from nursing uniforms. They select specialties where they do not have to wear uniforms - so that they do not appear to be nurses. They distance themselves from traditional bedside care. This means they will not appear to be a nurse, and thus avoid the stigma associated with men who work in female dominated professions. There are male nurses in administration, which requires the attributes traditionally assigned to males such as leadership and dedication to work. He wants men to know that nursing is more than just bathing patients. According to him, there are so many different areas men can go into with nursing, but many people don’t know about them. Tonade encouraged more men to become registered nurses by enrolling in either a diploma or graduate level programme.

MOVERS AND SHAKERS

Access Bank appoints non-Executive Director

CCESS Bank Plc has announced the appointment of Mrs Anthonia Olufeyikemi Ogunmefun as nonExecutive Director to its Board. This appointment followed the approval of bank’s Board of Directors and Central Bank of Nigeria (CBN). Mrs. Ogunmefun becomes the sec-

ond female currently serving on the board of the bank after Mrs. Mosun Olusoga was appointed about four years ago. Mrs. Ogunmefun’s appointment, according to industry observers, is a strategic decision by the bank to strengthen its governance structure and increase gender balance in its in board composition. A thorough bred governance

practitioner, Mrs. Ogunmefun comes on the board of Access Bank with over 25 years banking experience at senior management level. Mrs. Ogunmefun is a seasoned banker and legal practitioner with dual jurisdiction practice licences having been admitted to the Nigerian and the Canadian Bar. She ob-

tained her Bachelor of Laws Degree (LL.B) from the University of Lagos in 1974 and was called to the Nigerian Bar in 1975 and Law Society of Upper Canada in 2004. Her experience includes board membership of a Canadian Charity where she serves as the chairperson of the Governance Committee and senior management posi-

tion in some leading financial institutions in Nigeria and Canada. Speaking on her appointment, Mr. Gbenga Oyebode, Chairman, Access Bank Plc said “We are quite delighted to have Mrs. Ogumefun on the Board of Access Bank Plc. Her exposure and experience will be of significant benefit to our objective of attaining world-class standard.

CAREER MANAGEMENT

OMETIMES the simplest matters make all the difference in the potential joining together of an employer and a job searcher. These opportunities to fail occur before the first phone call is ever exchanged. If you’re a job seeker, these simply rectified mistakes can keep your resume out of the “no” pile. They can help you find a marriage with the employer of your dreams. Here are ten things that job seekers do that relegate their applications to the slush pile.

Fail to follow the employer’s directions about how to apply: By following the employer’s requested application method: email, fax, mail, you brand yourself as a cooperative person who can follow directions. Also, consider the possibility that the employer is routing all applications that come via email, as an example, into a recruiting folder. Other applications may be missed completely. Delivery of your resume via mail is still acceptable, although, fewer applications come in the mail these days; they are a paper management nightmare.

Send resumes or cover letters with typos: Typos brand you as a careless person who didn’t take the time to proof read your resume and cover letter. Employers judge the quality of your future work, by the quality of the documents that introduce you. Many managers use typos as a screen to eliminate candidates

How not to get employed By Olu Oyeniran

from contention.

Choose to leave out requested salary information: Many candidates are positive that once an employer sees their credentials, and meets them, salary won’t be an issue. Their credentials will knock the socks off the employer. Don’t believe it. The employer has a budget. When you don’t submit your salary as requested, your resume will likely be rejected. Minimally, you cause the employer to make a screening phone call. Neither you nor the employer need to waste time in an impossible situation.

Fail to send a customised cover letter with the resume: A customised cover letter does not mean changing the lead paragraph to mention the employer’s company name. It means drawing the employer’s attention, point by point, to how well your credentials match the employer’s stated needs. A generic introduction is already available via your resume. Use the cover letter as your place to shine. Demonstrate what’s important to you – and to the employer. Connect the dots for the employer and you’ll likely get a call for an interview.

Leave large gaps in their employment – unexplained: The first scan of a resume will reveal gaps in your employment history. Trust me. The employer always wants to know why. You took three years off to raise your child? Tell the employer up front in the cover letter. Otherwise, the employer will often reject your application. You risk the employer wondering why you have trouble finding a job. You appear undependable or, at worst, a mystery. It’s hard to find great candidates. Don’t eliminate yourself from the review.

Tell what the job searcher did – not what was accomplished: You answered a multiline phone, provided excellent customer service, and ran the photocopy machine. Does the employer care? Not likely. The employer wants to know that you improved customer service by 120 percent. The descriptions on your resume must focus on accomplishments – you were promoted three times in five years. And, make sure you label the bullet points as accomplishments or key achievements. Otherwise, your resume won’t pass the thirty second glance test. Apply for jobs for which they are way over-qualified – or under-

qualified: The employer has described the skills and experiences required for the position. A job description and a salary range exist. If you are way over qualified, or under-qualified, your application is suspect and is filed under “no”. It doesn’t take long to see that a high school grad is applying for a position that requires a degree and 1-2 years of experience. You’ve wasted your time applying. You’ve wasted the employer’s time, too – although I guarantee - not much time.

Exhibit problems with grammar and sentence construction: Your image is you. Application materials that demonstrate you are challenged to produce a complete sentence won’t serve you well. Grammatical errors are noticed and telegraph several messages. You can’t write very well. You lack attention to detail. Your ability to interact with customers is limited by your skills. Is this the message you are trying to send your potential employer? I think not. Remember, when the employer stumbles over mistakes, they rule you out.

Use out-of-the-ordinary tactics and gimmicks to draw attention to your resume: They do, but I guarantee the at-

tention isn’t positive. Employers have enough problems with discrimination laws without viewing your resume picture. Stuffing your resume envelope with confetti isn’t a good idea either, even if you’re applying as a creative. Sending your life history and every training certificate you’ve ever obtained won’t earn you any points. Nor, will a copy of your degree. Save these until you’ve at least spent some time together. Skip the rest.

Skip Human Resources and apply to the hiring manager or the CEO when they are the gate-keeper: Job searching books persist in making this recommendation, and maybe it was a good one, once upon a time. It’s still good when you are introducing yourself and making a professional contact. But, when applying for an advertised position, it’s the death knell for your application. You tick off the HR people, who are the monitors and caretakers of the hiring process. They build the pool of candidates that manager’s interview. They schedule the interviews. And, believe it or not, respected HR people have a serious influence on who gets hired. Olu Oyeniran is the Lead Consultant, EkiniConsult & Assoiciates. Website: www.jobsearchhow.com E-mail: oluoyeniran@yahoo.com Tel 08083843230 (SMS Only).

THE NATION MONDAY, AUGUST 15, 2011

THE CEO

‘Nationalised banks shareholders’ funds eroded The Managing Director of Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim, spoke with journalists in Abuja last week on the recent developments in the banking industry. He also talked about the nationalisation of three banks, (Bank PHB, Spring bank and Afribank) and the creation of three others - Keystone Bank, Mainstreet Bank and Enterprise Bank. The Nation’s Assistant Editor NDUKA CHIEJINA was there. Excerpts:

• Ibrahim HAT is the update on the three new banks. The three banks have crossed the bridge they are now full-fledged banks, with new management teams announced by the Asset Management Corporation of Nigeria (AMCON) along with their names. Very soon they will spring into action. There is a smooth process of transfer for

handing over from the outgoing management to the new one. The new management comprises tested professionals selected by AMCON to ensure that the new banks start on a clean slate as well as manage the institutions in a professional manner. As regulators, we will continue to exercise our oversight functions on these new banks

as we do other banks so that they all remain sound and profitable. This is to ensure that depositors of these banks continue to enjoy comfort and protection. So, naturally we have extended insurance coverage to these new banks. We have stated very clearly that even though AMCON is the new shareholder, until new credible shareholders are found,

it will not in anyway interfere. Any government functionary for that matter will also not be involved in the running of the banks. That is why we have very credible professionals on the board. Also, very soon other non-executive members of the boards of these banks will be announced by AMCON to complement the executive management. • Continued on page 40

THE NATION MONDAY, AUGUST 15, 2011

THE CEO •Continued from page 39

The most important matter for depositors is that they need to be sensitised, educated and assured that their funds are safe in all these it and there is no need to panic. But as they say, a trial will convince you. Anybody who doubts can go to any of these banks. I can assure you that whatever money you have in those banks, you will be able to access them and these banks will continue to give customers good services. There is no need to worry. Nigerians are worried and will like to know why NDIC and Central Bank of Nigeria (CBN) rushed in to take over these banks before the September deadline. What state were the banks before the takeover? About a month ago, the CBN governor issued a personal statement that any of the troubled banks that does not recapitalise before September 30 will be handed over to the NDIC either to manage, sell or liquidate. Yes, the September deadline is still pending, but the bottom line is that there has been a continuous deterioration in the financial conditions of these banks. They had totally lost their capital. Their shareholders fund were negative; in fact, below zero. These banks had been living on the life support system of the CBN, the guarantee that is largely the interbank. They were not able to mobilise deposit or attract new customers. They don’t have liquidity except the ones that they borrowed from other banks and other banks, naturally, will not give them a kobo, but for the CBN guarantee. So, what is banking if you are living on borrowed funds? You are not able to retain your customers and everyday your customers are running away with their money. You are not growing the business, you don’t have your own money, your capital is gone, so you’re almost dead or bankrupt. So, bearing in mind the need to protect depositors, we had to move in to save the situation. Clearly, in the NDIC law, there is a provision that empowers the NDIC to quickly step-in in a situation where a bank is clearly failing. They were also not able to come up with credible investors that will give the NDIC and CBN comfort that by the end of September, they would have found investors and all that would be left would be detailed negotiations. So, you don’t have to wait until the deadline. It is like when we are asked to go and find a partner and our parents give us deadline to get married and if they know that you are not serious and have not found one they will find one for you or rest their case. So, this was more or less the case here. What will be the fate of the immediate past management of the nationalised banks that could not salvage their institutions? We have to be very fair to those people, they lasted for barely two years. In fact, their mandate is for two years due to expire this August. Now given the rottenness and complications of these banks not much was expected from this management to do. We all know what happened. I don’t want to mention the banks and we all witnessed the extent of the problems of these banks. So essentially, the out-going team though carefully selected and given the mandate to go and run those banks in the best and most professional manner possible hoping that they could turn the banks around to some extent, arrest the rot, determine their financial conditions, identify malpractices, frauds and abuses. A lot of the banks were saddled by non-performing insider loans, loans that were granted to majority/leading shareholders and owners of the banks. We all know what happened but we don’t want to mention names. People have gone to jail and forfeited billions of naira so if it has taken somebody 10 years to run a bank aground, what miracle do you expect somebody to do in two years? So, they tried their best except in the case of these three banks. They moved the banks to a stage where they have found new owners or people who are willing to invest in these banks and these are the banks that have already signed Transaction Implementation Agreements (TIAs), which is like a binding marriage, which they pledged to consummate before the end of September and that’s why they are off the hook. So, they have done their best but they are relinquishing their positions and going back to their previous endeavours. Shortly after the appointment of the management team by the CBN for the troubled banks in 2009, there were accusations that many of the MDs were leaving above their means. What is the guarantee that the boards of these three new banks are not going to worsen the situation?

‘Nationalised banks shareholders’ funds eroded

• Ibrahim

‘People have gone to jail and forfeited billions of naira. So, if it has taken somebody 10 years to run a bank aground, what miracle do you expect somebody to do in two years? So, they tried their best except in the case of these three banks. They moved the banks to a stage where they have found new owners or people who are willing to invest in these banks and these are the banks that have already signed Transaction Implementation Agreements (TIAs), which is like a binding marriage, which they pledged to consummate before the end of September and that’s why they are off the hook’

• Ibrahim Well, you cannot guarantee human behaviour generally, you can only try to make sure that you choose the best people, professionals, skilled people with strong sense of character, you also establish a governance system, a risk management system. Also to be established is a good credit management system and, of course, you must have a good system for sanctioning those who violate the laws. So, it is not quite correct to say that nothing has been done if you

look at the cases of those who have been arraigned by the EFCC, you will see that some people have been convicted and some have forfeited billions of naira to the Federal Government. So, the law will take its course. You cannot guarantee human behaviour it is a global issue, this is a human issue. Many of the chief executives appointed in the wake of the 2009 banking crisis were reported to be extravagant. Will the regula-

tors put in place a regime of allowances to check this trend? No, we have no business putting in place a regime of allowances for anybody at this point in time. Just as we cannot tell the strong banks how much to pay, so also we cannot tell the management of the new banks what to pay. They should pay people according to their skills and competences and according to their pockets. So, it’s up to the new banks to negotiate their own package in accordance with what they can afford and what the industry dictates. Am sure none of these outgoing management teams was indicted and was arraigned by the EFCC to my knowledge. Why were the former management of the three new banks not able to get investors? These management teams did their best, they took over banks that have suffered abuses and they tried to rehabilitate them as much as they could and put them in a position to attract suitors. To that extent, they did their very best. Now why they could not get investors varied from bank to bank. But generally speaking, investors are difficult to come by. Some local and foreign investors showed interest in these banks but the terms and conditions may not have been favourable to them, so that is why a deal could not be reached as at the time they were taken over. It could be a matter of price, it could be the credibility of the investors etc. etc. The truth is that the regulatory authorities did not advise Afribank that they should go ahead with VineCapital for reasons that border on credibility and governance issues. But they had a choice to go ahead with another suitor, but they said no. Under this new arrangement, if an investor comes into any of these banks before the three-year period for a bridge bank to expire, does that mean that the tenure of this management will automatically expire too? Yes, of course!! What happens to the old shareholders of the banks now? The Securities and Exchange Commission (SEC) has issued a statement that the shares of these three banks are now under technical suspension. I am not in a position to make any authoritative or categorical statement on that. Do you foresee any legal battles in the near future arising from this action? I don’t know. All I know is that we carefully took the action and sought legal advice and we are guided by our laws. In the case of ETB which is a small bank and is not publicly quoted, they are in active negotiation with interested buyers, there is an arrangement that will ensure that ETB strikes an acceptable deal before the deadline. We are quite optimistic about it, that is why it is not among these banks now. What is the status of Societe Generale Bank of Nigeria (SGBN) because we have not heard the regulators demanding its licence from its owners? The NDIC together with CBN are in active discussions with SGBN. In fact, they have proposed a new name, they have tried to identify credible shareholders to pump in money to the banks, we are quite mindful of the need to resolve the issue and get them to go back to business either as a national or regional bank or in whatever framework they want to operate. But I can assure you that we at NDIC are mindful of that and are concerned because of our statutory obligation to the depositors of this bank. Please tell us the financial positions of the new banks with regards to the other banks that signed TIAs. Should we be prepared for similar action against them if by December, they do not follow through with their agreements? Let me tell you about the new banks, they are new and AMCON has stepped in and they are now well capitalised having brought them from minus zero to above zero, they have also met the statutory requirements. In fact, from all indications they should be in a position to repay the temporary loan that was given to the erstwhile banks by the CBN since they inherited the fortunes and misfortunes of the erstwhile banks. For those that have signed the TIAs, I hope and I don’t see that happening but it is up to them. We believe that they will work hard to actualise the TIAs they signed. Is it true that some banks are not paying premiums to the NDIC? No, it is not true. At least, the main banks are paying their premiums but if you say micro finance banks, I will say yes. There are a sizeable number of them that are not able to render returns and are not able to pay premium and so on. You know what has happened to some of them recently. More action will be taken to clean up the system.

SLIDING TACKLE

“They remain the team everyone needs to beat. They have the vast experience and success behind them. You can’t buy that. Like Barcelona, they seem to get better every season. They are hungry for more success. I expect United to carry the greatest threat to our defence of the European crown.” 42

Monday, August 15, 2011

FC Barcelona Superstar, Lionel Messi rating English club, Manchester United as biggest Champions League threat.

Chelsea in £40m bid for Neymar Afetrmath of clash with Gervinho C HELSEA owner Roman Abramovich is ready to meet Santos' buyout clause for Neymar. The Daily Star Sunday says he is ready to stun Real Madrid by giving Chelsea boss Andre Villas-Boas £40million to spend on Brazilian wonderkid Neymar. Spanish giants Madrid were favourites to land the Samba starlet but have stalled on forking out the huge fee, which would trigger a release clause in the teen’s contract with Santos. Chelsea assistant-boss Roberto Di Matteo watched Neymar score for Brazil against Germany last week and praised the youngster in a report to Villas-Boas. A source at the club said: “Roberto was suitably impressed by what he saw. The kid’s a real talent.

•Barton in burglary scare

•Barton in bust-up with Gervinho in Saturday's EPL clash with Arsenal

“Real Madrid were serious about signing him but, for one reason or deal

another, that deal broke down. “Money talks and with a

£40million offer on the table, Neymar could be a Chelsea player soon.”

We’re still the best without Sneijder— Ferguson

ANCHESTER United manager, Sir Alex Ferguson insists he won’t be signing Wesley Sneijder before the transfer window closes after being priced out of a deal for the Holland and Inter Milan star, saying the Reds remains

the best. Sir Alex Ferguson made Wesley Sneijder his No.1 choice to replace the retired Paul Scholes, but Manchester United are now understood to have dropped their interest in the midfield playmaker.

Benzema finishes pre-season as Europe top scorer

EAL Madrid striker Karim Benzema goes into the new campaign as the top scorer in Europe's preseason. Benzema has scored eight goals to leave him clear at the top of the charts. The Frenchman's eight goals in seven games has him the top goal scorer among the players of Champions League teams.

The striker started the summer with two goals against Los Angeles Galaxy in the US. He then followed with two more goals in Europe when Real Madrid took on Hertha Berlin and Leicester City respectively. In China, he scored two braces against Guanghzou Evergrande and Tianjin Teda.

Inter Milan were demanding around £40m for Sneijder, while the player wanted wages of £220,000 a week. It remains to be seen if a deal can be resurrected later this month. But Fergie is adamant Sneijder will not be joining the champions. And he insists the new talent coming through the ranks at Old Trafford has persuaded him to keep his cheque book under lock and key. United begin the defence of their Premier League title with a trip to West Brom tomorrow and Fergie is relishing the chance to see his new-look side in competitive action. He is expected to hand league debuts to new signings David de Gea, Phil Jones and Ashley Young,

OTHER SPORTS...OTHER SPORTS...OTHER SPORTS...OTHER SPORTS...OTHER SPORTS...

Woeful Woods in shock USPGA exit TIGER WOODS played like a weekend hacker as he crashed out of the USPGA. The 14-time Major winner finished on a humiliating 10over par for two rounds after shooting 73. And his efforts on the 11th hole last night would have had 20-handicappers sniggering. He went from fairway bunker to greenside trap then splashed out, quite literally, into a lake on the other side of the green. Woods did quite well to make a double bogey six. And he racked up another double at the par-four 12th when he carved his drive into

the trees, hacked out sideways, then blasted a three wood back into the forest. Woods, who missed the cut for only the third time in 56 Majors, still claimed: "It's a

disappointment but it's a giant leap forward that I've been able to play for two straight weeks and I'm feeling healthy." Open champion Darren Clarke admitted he was "shattered" as he crashed out on 14 over par.

•Steve Williams (l) and Tiger Woods

while the emergence of Tom Cleverley in midfield has convinced Fergie that United’s long-term future looks brighter than ever. Fergie will be without Javier Hernandez, who is still recovering from concussion, while Patrice Evra is doubtful with a sore knee. But the United boss still has options galore at his disposal and is confident of another successful campaign. “When you take that roll call of players, I’m certainly not looking to add to that,” said Ferguson. “I’ve been saying that for weeks but you have all been writing differently. I’m going to buy this one or that one. But we’ve said nothing, we’re just carrying on with our business. You can forget anyone you like, I’m happy with the young players I’ve got.

Messi: Man Utd our biggest Champions League threat

A R C E L O N A superstar Lionel Messi rates Manchester United as their biggest Champions League threat. Messi also believes United are favourites for the Premier League. “They remain the team everyone needs to beat. They have the vast experience and success behind them,” Messi told the Sunday Mirror. “You can’t buy that. Like Barcelona, they seem to get better every season. They are hungry for more success. “I expect United to carry the greatest threat to our defence of the European crown.”

OEY Barton's eventful weekend did not end with a slap from Arsenal debutant Gervinho. The 28-year-old Newcastle midfielder found himself cast in the dual role of victim and villain in quick succession on the pitch, and then at the centre of a debate over his conduct during his side's 0-0 opening day draw with the Gunners. However, the drama was to continue overnight when he was roused from his postmatch slumber by an intruder trying to break into a neighbour's house. He tweeted: '5.26am was awoken by a banging sound, burglar attempting to break in to neighbour's house. Needless to say, he was disturbed and apprehended. 'He was so subtle, he attempted to put a massive log through the window in broad daylight. Police have him now 4th break in of the night £scum. 'What with the burglar and Arsenal game, it's been an incident-packed 24hrs.' Earlier, Barton had been involved in a number of rows on Twitter with journalists including Arsenal fan Piers Morgan. He also had an exchange with Jack Wilshere over the sending-off of Gervinho. Barton has rarely been far from controversy for too long during his career to date, and is currently at loggerheads with the Magpies' hierarchy after criticising their summer recruitment policy in the wake of being told he will not be offered a new contract. He was only included in Alan Pardew's starting lineup on Saturday after

persuading his manager that he was fully focused on the game, and his response was typically committed. Barton was involved in the incident which saw Arsenal midfielder Abou Diaby dismissed in the corresponding fixture last season, prompting a memorable collapse which saw the visitors surrender a 40 half-time lead. This time around, it was he who was initially in the firing line when Alex Song appeared to stamp on him f o l l o w i n g a n uncompromising challenge. However, if he was blameless on that occasion, it was his reaction to the game's major incident which sparked a untidy melee 15 minutes from time. Barton angrily confronted Gervinho, once a target for Newcastle, in the belief that he had dived in an attempt to win a penalty as he tried to skip past Cheick Tiote inside the penalty area. He hauled the Ivorian to his feet and as Steven Taylor and a series of other players arrived on the scene, the £10.5million man slapped the midfielder's face. Barton fell to the ground - he later admitted with a little too much ease - and referee Peter Walton produced a red card for Gervinho and a yellow for the Newcastle midfielder. Gunners boss Arsene Wenger insisted both men should have suffered the same fate and revealed his player had assured him he had not dived, but he conceded that the striker, like some of his teammates in the recent past, might have over-reacted.

Drogba confirms new contract talks

IDIER Drogba has with Chelsea. confirmed he's in Chelsea have offered the new contract talks Ivory-Coast striker a one- year extension with 12 months remaining on his current deal. But Drogba wants a further two years. There had been growing doubts over the 33-year-old’s future following the arrival of Fernando Torres. Drogba said: “I said a few •Drogba years ago that I will be here until the end of my contract. “But I would like to finish my career here. We are continuing talks. “Everybody knows what I feel about Chelsea and what I want.” Asked if the situation is close to being resolved Chelsea boss Andre Villas-Boas said: “He knows our offer and he has made a counter offer. We are now waiting on things.”

THE NATION MONDAY, AUGUST 15, 2011

PERSONAL FINANCE

Email: taofad2000@yahoo.co.uk

Investor’s Worth

Living up to a rich name

HIEF Clement Olowokande is one of Ni geria’s boardroom icons and entrepreneurs. Sitting atop two of the leading quoted companies, he has proved to be a survival strategist and proactive manager sustaining two heritage companies of more than five decades. As Chairman of Berger Paints Plc and RT Briscoe Plc, Olowokande has sustained two value-creating companies within two highly fragmented sectors and unpredictable macro economy. Berger Paints Plc is one of the two topmost paints and chemical companies in Nigeria with current market value of N2.03 billion. RT Briscoe is, undoubtedly, the leading automobile company and the only profitmaking stock in the auto and tyre segment of the stock market. RT Briscoe is valued at N1.4 billion. From manufacturing to auto trade, Olowokande controls synergistic investments that recycle values within themselves. But beyond his managerial acumen and influence that prequalified him for chairmanship of quoted companies, he is

an astute investor in equities, staking his money where he believes value lies. Olowokande is the single largest shareholder in Berger Paints with a direct equity control of 2.53 per cent and indirect holding of 0.94 per cent, putting his total interests at about 3.5 per cent. With market value running into several millions of naira, his direct and indirect investments in Berger Paints are cash cows. Total cash dividend income for last year’s business year stood at about N5.3 million, with almost N4 million due to direct investment. He has also built a nest egg in RT Briscoe with 0.07 per cent direct equity investment, the largest direct shareholding by any of the directors of the company. Out of the 43,175 shareholders of RT Briscoe, only 387 shareholders or 0.9 per cent ranked within the same level with Olowokande and only 0.12 per cent ranked above his level. A regular cash dividend flow and scrip issues have proven RT Briscoe as a value-yielding investment in spite of the stock market recession and flight from capital goods that resulted from economic recession and liquidity squeeze.

•Olowokande

RT Briscoe has made bonus issues - which automatically increase a shareholder’s holdings, consistently every year over the past five years and has paid cash dividends for 19 out of the past 22 years including consistent yearon-year payment over the past 10 years. Under Olowokande, RT Briscoe had ridden the whirlwind that submerged many auto-related companies and has diversified into many other businesses. With the two firms repositioning for greater values, Olowokande is assured of consistent cash flows from his nest eggs in addition to unceasing emoluments as helmsman of two leading quoted companies. From whichever perspective, his investments provide greater assurance of sustainable living.

Ask a Broker What is the importance of paid up share capital AID-up share capital is im as an index of evaluation? portant in knowing many

performance indices including net assets per share, earnings per share, dividend per share, price to book value ratio, market capitalisation and many other technical and fundamental indicators of the inherent value of a company. These performance indices enable investors to preview prospective returns. For instance, in-

terim earnings per share may be annualised to give possible earnings per share by the year-end and as such the possible dividend payout. Share capital is also a means of corporate control. To increase or reduce its share capital or issue or cancel any portion of it, shareholders of the company at an

annual general meeting must pass ordinary resolution to such effect while such change must be reflected in the articles and memorandum of association of the company. Besides, any change in authorised or paid up share capital must be registered with the corporate affairs registration agency

Ways and Means

Making pilgrimage without cash

•GMD, Intercontinental Bank, Mahmoud Lai Alabi

ILGRIMAGE to the holy lands is a yearly event in the country. With a highly religious population, governments, organisations and individuals commit huge resources to pilgrimage and religious visits to holy lands. From pilgrimage to Mecca and Medina for Muslims to visits to Jerusalem, Egypt and Vatican by Christians, a pilgrimage is round-the-year activities in Nigeria. While substantial funding arrangements including procurement of entry documents, flights and hotels’bookings and intracity transports are mostly concluded in Nigeria ahead of the trip, pilgrims are required to make provisions for their feeding, shopping and other basic necessities; depending on the package and the organisation in charge. As such, pilgrims are mostly required to provide naira notes which would be converted into dollars for keep as their Basic Travelling Allowances (BTAs). The presence of “hard cur-

rency” or raw cash exposes the pilgrims to many temptations and dangers, especially thefts. There have been numerous cases of “missing” BTAs in the holy lands. Besides, raw cash encourages willful spending habit that often leaves several pilgrims stranded, particularly in the event of “unavoidable” delay in return flight. But pilgrims need not go through the hassles and risks of carrying cash. Several innovative financial institutions have designed various products to help pilgrims plan their pilgrimages on one hand and to remove the risks and burden of carrying cash on the other. Intercontinental Bank Hajj Card is one of the pilgrimageenabling financial products that offer pilgrims ease and security. A VISA-based card, Intercontinental bank Hajj Card is an instant non-personalised, prepaid and reloadable spending card that can be used to make purchases anywhere and everywhere VISA card is accepted. Acceptable in more than 220 countries and several hundreds of outlets, VISA is a generally acceptable card that can be used for withdrawals at the Automated Teller Machines (ATMs) and making payments at Point of sale (PoS) terminals and other electronic media including internet. Intercontinental Visa Hajj Card comes with many distinguishing features and benefits. Secured with global chip and pin (EMV),

Importance of investment analyses in decision-making

the card is “verified by Visa” (VbyV) certified which provides additional security for online transactions. The card also carries the US dollar- the global currency of transaction. With this card, a pilgrim is guaranteed of 24-hour access to his or her funds without the need to carry cash or cheques while he or she can also engage in multi-currency transactions without going through the cumbersome process of currency exchange. The card is also structured to provide user with the best optimal exchange rates. Besides, a card user can monitor his or her transactions through transactional alerts and online records. The card also provides greater assurance of security as Visa card can easily be blocked and replaced in the case of theft or loss of card. Intercontinental Bank has also simplified the process of obtaining the pilgrim card by narrowing the issuance to a three-step process- filling of application form, provision of two passport photographs and a valid means of identification including International passport, National Identity Card and Driver’s Licence. Given that all pilgrims carry passports, an applicant can at a sitting complete all requirements for issuance of the pilgrim card. Financial literacy is all about taking advantage of products and services that can reduce the cost, risks and process of transaction, thus enabling the personal finance conscious individual to optimise his resources.

HE dynamics of life is made up of two related factors - risk and reward. They are two constant variables in any human endeavour. From whatever angle and whichever discipline, the interplay of risk and reward determines the outcome of each activity. Human efforts as such have been geared, through the ages, towards minimising risks and enhancing the possibility of reward. From the micro and macro perspectives, risk is a constant factor that outlines the primal motive of human beings to achieve certain desires. From the economic perspective, risk implies the uncertainty in the probability distribution of reward. In investment, this simply indicates the possibility that the desired reward or return on investment, many not materialised, as envisaged by the investor. As a decision-maker, an investor or investment manager is faced with the dilemma of making crucial, sometimes lifechanging, choices among several investments, all of which promise good returns. With the quality of his decision a primary factor in the performance and sustainability of the investment portfolio, the investment manager or investor must go beyond surface evaluation and prospectus recommendations to unearth the true values inherent in any potential investment. And he must do this in earnest, ahead of others and without any major error of omission or commission that that are usually blamed on fast-tracked process. As such, the investor or fund manager is faced with arduous task of efficiency, completeness and speed. To minimise the risk of failure in decision-making, a plethora of analyses, procedures, rules and systems have been evolved and still being evolving, by independent professionals, companies, government and other stakeholders. These include macro economic analysis, industry analysis, company analysis, corporate social analysis and industrial relations review among others. It is the synchronisation of the many views from theses oftendivergent, but related analyses, previews and reviews that form the counterbalance that minimises risk and enhances probability of return. Corporate analysis, at its full extent, reflects the risk-return probability of a company in relation to various macro and micro economic and socio-political variables. The importance of comprehensive corporate analysis lies not only in it centrality to the realisation of the investment objective of investors, but also in its usefulness to other stakeholders including government; in terms of taxes and employment, employees; in the area of stable job and commensurate wages, immediate and extended communities; in the area of corporate social responsibility and community development, creditors; in the assurance of safety of their facilities, debtors; for safety of debt schedules and agreements and many other cyclical relationships in the economic chain. The roles of companies in any polity are pervasive and far-

By Taofik Salako

reaching while their relationships extend through the system. Shareholders, however, remain the core group of any company. As providers of the real capital and the bearers of the “real” risks, the health status of a company is of primary importance to shareholders. This much is buttressed by the fact that shareholders more than any other stakeholders bear the liabilities of a company. In the event of insolvency, bankruptcy or liquidation, other stakeholders, such as creditors, staff, government, customers, services providers like auditors, advertising and marketing agencies etc are more often on the right side with rights of claim on the remnants of assets of the company, leaving shareholders on the left, with little or nothing, to bear the failure of their risk judgement. This much has been reflected by the unending losses accruing to shareholders through the oft-repeated Nigerian banking reforms, yet other stakeholders including employees and depositors are assured of their entitlements. This assumption of liability by shareholders and investors, more than any other factor, necessitates the need for clear and comprehensive performance review of a company from time to time. Investment is a long-drawn process that characteristically involves several steps and decisions. An expert described investment as a scientific process of allocating financial resources into new risks with expectation of commensurate returns. As a scientific process, it implies that investment decision is not haphasard, foot-to-head decision; rather it makes use of empirical data- related to the primary operations of investment (fundamentals) and the perception and rating of such operations by others (technical). A process usually involves a series of actions and events. This view of investment also underlines why shareholders and investors are ultimate bearers of liabilities. Public limited liability companies run on the principles of representative leadership, where the leaders are seen as holding the views of the multitude. The logic is that since shareholders appoint the board and the board appoints the management, which determines the employment of every other person in the company, then the shareholders are the ultimate decision makers. This further underscores the need for shareholders to have access to dependable information about the general health status of their company. This will enable shareholders to influence the operations and direction of the company

‘A comprehensive corporate analysis should include global, domestic economy, industry and company’s operations reviews.’

by taking up the board on issues of concerns through memos or at the general meetings. Many companies that run on good corporate governance create a two-way flow of information between the board and the management and the many shareholders to give a greater sense of participation. The mass sack of boards of banks taken over by the Central Bank of Nigeria (CBN) reinforced this position of collective responsibility. There are several considerations in determining the general health status of a company, from the soft issues of the “colours” of events, reports and communications to the hard issues of core operational fundamentals and technical indices on the stock market. A comprehensive corporate analysis should include global, domestic economy, industry and company’s operations reviews. With the globalisation turning the world into economic village, the global economic review provides insights into developments in advanced and emerging economies with a view to understand the possible impact on the domestic economy and more importantly, the immediate subject of review. Domestic or operating economic review synthesises local fiscal and monetary policies and outlines the current and probable impacts on the organisation under review. Industry review aims at delineating the growth prospect of the particular sector of the economy within the context of the macro economy. This delineation can be broad, such as financial sector, or specific, such as banking. Company’s operations review essentially indicates the performance of the company and situates such within the contexts of global, domestic and industry developments. Company review should, essentially, touch on the core survival ratios of capital adequacy, maintainable earnings and liquidity. The review should also consider corporate strategies and business development plan, corporate social responsibility, industrial health and harmony, conformity with laws and regulations, generally accepted corporate governance practices, composition and integrity; knowledge and general dependability of board and management, shareholders’ relations policies, most especially return policy, independent opinions including auditors, audit committee, reputable rating and award organisations, technical performance trend on the stock exchange (if quoted) and the unusual but sometime invaluable grapevines. Also, in analysing and understanding corporate performance, comparative analyses of performances over some years on individual company basis or between two or more similar companies, as well as across various sectors and economies provide more useful basis for making deductions. Beside the invaluable insights that a longstretched individual corporate performance analysis could provide, comparative analyses or peer reviews usually offer fuller views of possible risks and returns.

THE NATION MONDAY, AUGUST 15, 2011

CAPITAL MARKET

Banking stocks remain investors’ toast

OING by the recent development in the financial market, banking stocks retained their leadership stand at the exchange last week with 0.85 billion units’worth N6.12 billion in 11,541 deals. Investors in the industry had exchanged 0.48 billion units valued at N3.71 billion in 9,035 deals a fortnight ago. The banking sector, still maintained 67.04 per cent of the total activities at the exchange last week, this pointed out that the banking stocks were actively traded at the exchange compared to 61.53 per cent the penultimate week, returns on banking volume is 5.51 per cent and the value of money spent on banking stocks remain strong as it stood at 62.19 per cent. The Insurance sector occupied the first runner-up position with 198.69 million units worth N 141.52 million in 625 deals. On average evaluation, the Insurance sub-sector accounted for about 15.64 per cent of the total activity and 1.43 per cent of the total funds invested at the exchange during the week under review. Shares of Guaranty Trust Bank Plc, United Bank for Africa Plc and Access Bank Plc were the toast of investors as they were actively traded in terms of volume and total investment. The bearish returns deepens further at the exchange last week as market indices dropped by 5.70 per cent, as against an increase of 0.65 per cent recorded a fortnight ago. The statistics showed a complete reversal in the stock market performance, the recent fall is backed on the poor performance of the banking sector. The worth of activities last week fell noticeably and its sustainability requires asymmetric information for investors to regain their lost confidence. In the current week, the volume of transaction reads at N 9.84 billion with the volume of transaction of 1.26 billion shares as against the trading of 0.78 billion shares worth N 5.53 billion a fortnight ago. In terms of transactional volume, the Conglomerates sub-sector’s performance represented an improvement of about 2.55 per vcent last week. The total weekly value of stocks in this sub-sector stood at N0.25 billion. The Market capitalisation, which measures the share price movement decreased from N 7.59 trillion a fortnight ago to N 7.16 trillion last week. The All Share Index also declined to 22,390.45 from 23,745.22, representing a 5.70 per cent drop on weekly assessment. Apparently, the braIndex® also fell by 6.29 per cent. All the three market indicators decreased last week showing that overall activities in terms of volume and fund invested may decrease noticeably. The negative returns on both benchmarks were less than three index point and attributable to the recent development in the banking sector. On a year-to-date basis, both benchmarks - the NSE All-Share Index and the braIndex® - showed losses of 7.36 per cent and 7.43 per cent. Stock Market Sectoral Performance Investors in the shares of Guaranty Trust Bank Plc exchanged 157.99 million units in 3,033 deals worth N 1.88 billion. The average number of deals remained well over 606 deals per day during the week. United Bank for Africa Plc was second with 117.72 million shares worth N 529.52 million. In the Insurance sub-sector, NEM Insurance Co. (Nig) Plc led with 94.24 million shares worth N47.61 million.The sectoral volume

Table 1: A five-Day Moving Average Data of the Market Indices Change(%) (3.08)

Average Weekly Depth Year To Date (YTD)

4.37

Month To Date (MTD) (3.03) Week To Date(WTD) (5.66) Values

Market Cap(trillion Naira)

As of closing on August 11, 2011

4.32

4.48

(3.15) (5.70)

(3.76) (6.29)

All-Share Index

braIndex®

7.16

22,390.45

Market Capitalisation (%)

All-Share

(3.11)

(3.83)

14.28

Source: NSE & bra Limited Table 2: Stock Market Summary Statistics for the week ending August 11, 2011. Period Market Capitalisation (Trillion) 04/08/2011 7.59 05/08/2011 7.48 08/08/2011 7.34 09/08/2011 7.20 10/08/2011 7.14 11/08/2011 7.16 Source: NSE & Bra Limited

All-Share Index (Base Points) 23,745.22 23,397.44 22,963.11 22,519.32 22,335.75 22,390.45

braIndex® (Base Points) 15.24 14.91 14.69 14.26 14.05 14.28

Table 3: Statistics on Weekly Sectoral Contribution Sectors Banking Conglomerates Food, Beverages and Tobacco Mortgage Insurance Source: bra Limited

% of Total Trading Net Worth 62.19% 2.55% 9.04% 0.17% 1.43%

Trading Net Worth(in Naira Millions ) 6,120.81 251.66 890.20 17.53 141.52

Figure 1a: The All Share Index and braIndex® Performance at a Glance

Source: BRA Computation

amounted to almost 198.69 million units and constituted over 15.64 per cent of the sector’s trading volume. Companies Appraisal Guaranty Trust Bank Plc is the most active company in the Banking sub-sector with 157.99 million units, followed by the United Bank for Africa Plc, which closed the week at N529.52 million in 847 deals. Among the most active companies in the Insurance sub-sector were N.E.M Insurance Co. (Nig) Plc, Continental ReInsurance Plc, Goldlink Insurance Plc and Aiico Insurance Plc. In the Conglomerates Industry

Transnational Corporation Plc claimed to be the most active companies in the sector. The Food, Beverages and Tobacco industry was also active in terms of the market value. Dangote Sugar Refinery Plc, Flour Mills of Nigeria Plc, National Salt Plc and Cadbury Nigeria Plc were some of the most active stocks in the sub-sector. Last week, shareholders of Skye Shelter Plc, Julius Berger Plc, Ashaka Cement Plc, ETI Plc and Flour Mills of Nigeria Plc saw the value of their investments earning profit of less than three per cent while investors in Guinness Nigeria Plc, Dangote Cement Plc,

Oando Plc and UAC-Prop Plc over three per cent loss daily. Points to note: The weekly stock market analysis reports the current position of the outlook of the stock of the companies listed on the exchange and the aggregate market. The NSE closed the 32nd trading week on a bearish note. The movement supports our statement last week as we suggested strides towards a bearish stand. Historical analysis of trading volume shows that in the new week, the Banking, Insurance and Food, Beverages and Tobacco stocks are likely to continue to be the toast of investors.

Disclaimer This report has been prepared for information purposes only and for private use. Whilst reasonable care had been taken in its production, bra Limited does not guarantee the correctness of its contents nor does the company accept liability for any loss arising from a reliance on its contents. Kindly note that our suggested recommendations and other tactical actions are based on bra Limited best estimates which are guided by generally available information and our Proprietary Tools. This is not an invitation or a solicitation to deal in any stocks and we do not guarantee the future outcome of such recommendation.

THE NATION MONDAY, AUGUST 15, 2011

CAPITAL MARKET Bond and Money Market Review

HE market appreciated significantly a fortnight ago. Starting from day one of the week to the close of transactions, prices of most long term instruments remain the major driving force of the overall market performance. The Federal Government of Nigeria (FGN) bond Index began the week at 1,512.87 and closed at 1,512.15 points, dropping by 72 basis points in support of a rise of 451 basis points a fortnight ago. It ended the week at 1,512.15 points. Average index stayed at 1,513.97 points, compared to 1,507.89 points the previous week. The 30-day, 60-day and 90-day indices dropped by 17 bps, 17 bps and 25 bps to 12.83 per cent, 13.29 per cent and 13.70 per cent. Activities at the bond segment of the market close on a bearish scene last week, starting the week with a bearish response and had dropped continuously till mid-week when it rose by 0.07 per cent. The volume of market transaction increased from N1.835 trillion to N1.836 trillion, while the index on the other side close at 1,512.15 points, as it started the week with 1,512.87 points. Market capitalisation closed with N 1.83 trillion to end last week transaction as against N 1.84 trillion observed in the penultimate week, the daily changes in the index increased by 0.07 per cent while on weekly observation the index dropped by 0.04 per cent. The index movement shows that there is a trivial drop in the market performance though the changes on daily examination was a slight improvement been arrived at as a result of price increase experienced on long term instruments, these instruments are the major drivers of the market performance last week, though fortnight ago, the prices of traded bonds increase trivially. Despite the bearish returns on weekly appraisal the overall market review still showed positive signal last week. Among the 15 traded bonds, most of the traded bonds have their price increased throughout the last week trading activities. Except the short term instruments which witnessed price stumbled. The top price gainer was the 20year bond, 15 per cent FGN Nov 2028, which appreciated by 116 basis points to close at 123.47. However, the 10-year bond, 10.70 per cent FGN March 2018, which slightly rose by 34 basis points to end the week at 97.61. Figure 1 illustrates the year-todate change in the bra FGN bond Index. The bra FGN bond index is a market value weighted index and is designed to measure the performance of the Nigerian investment-grade fixed income market. Although the index remained flat during most of January and February as seen, it recorded a sharp drop in March as investor outlook turned negative in the bond market in anticipation of elections. The FGN index recorded its biggest decline (108 points) in March losing roughly seven per cent of its value.We observe the stabilisation of the declining trend in April and a gradual recovery in May and June. July follows this recovery trend with index values reaching their March levels. The index increased by 2.2 per cent in July reaching 1,518 points on July 19 and closing at 1517 on July 30 Last week, the Central Bank of Nigeria (CBN) sold foreign exchange worth $250 million to authorised dealers at the Wholesale Dutch Auction System (WDAS) window as against $400 million a

Bond market closes on bearish returns Table 4: Key Statistics of Market’s Stock Performance as at August 4, 2011 S/N

Company Name

Share Price Gain (‘N)

% of Shares’ Gain by Investors

TOP FIVE GAINERS BY PRICE 01

Skye Shelter Plc

100.00

3.00%

Flour Mills of Nigeria Plc

86.47

2.47%

Julius Berger Plc

51.97

2.47%

Ashaka Cement Plc

21.00

1.00%

ETI Plc

13.74

0.65%

220.00

-8.00%

TOP FIVE LOSERS BY PRICE 01

Guinness Nigeria Plc

Dangote Cement Plc

117.00

-3.00%

Oando Plc

30.46

-1.60%

UAC-Prop Plc

17.35

-0.80%

Cadbury Nigeria Plc

16.50

-0.50%

Source: NSE and bra Limited Indicator Turnover Value Deals FGN Bond Index Market Capitalization Index Weekly Returns (%) Index Year-to-Date Returns (%) 1-Month Returns (%) 3-Month Returns (%) 12-Month Returns (%)

CurrentWeek 197.8 million N160.43 billion 1,301 1,512.15 N1.83 trillion 1.70 5.25 0.69 5.28 18.60

PreviousWeek 192.8 million N157.84 billion 1,296 1,512.87 N1.84 trillion 1.74 5.21 0.66 5.24 18.49

% Change 2.59 1.64 (0.04) (0.54) (2.29) 0.76 4.54 0.76 0.59

Source: BRA Figure 1: FGN Bond Index

Source: FMDA

Figure 2: Nigerian T-bill Primary Market Auctions

Primary Market Auction

Source: Financial Markets Dealers Association

fortnight ago. The dealers had demanded $313.59 million before the auction while the actual amount offered stood at $250 million. The over-the-counter bond market notched up by 2.59 per cent last week, yielding N160.43 billion with a turnover of 197.8 million units in 1,301 deals. The amount compared favourably with the N157.84 billion invested on 192.8 million units in 1,296 deals a fortnight ago. The activity was boosted by the 20-year bond, due in July 2030 with 10 per cent coupon rate. It traded 41.95 million units valued

at N31.30 billion in 316 deals. This was followed by the three-year bond, 5.5 per cent FGN February 2013 which traded 33.55 million units valued at N30.04 billion in 281 deals. 16 of the available 34 FGN bonds were traded during the week, compared with 12 the previous week. In the NTB Primary Market, there were only two issues of NTBs with maturities ranging from three to six months. The total subscriptions for these two issues were well above the 89 billion offered. The true yield on these NTBs ranged from 6.91 per cent on the three-month issue to 8.1 per cent on the six-month issue.

These yields are down from previous month’s auctions where the yield on the three month NTB in the primary market ranged from 7.9 per cent to 8.8 per cent and the true yield on the 6-month NTB was between 9.69 per cent - 9.73 per cent. There were 8 issues of NTBs in June worth N340N billion. In July, this figure was significantly down at N89 billion. The yield on the 1 year NTBs had ranged from 9.89 per cent to 10.37 per cent in June. Nigerian Yield Curves In terms of long term bonds, there were three issues of NT Bonds with maturity dates rang-

ing from three to 10 years for a total amount of N70 billion. In June there were only two issues of FGN bonds for the same total amount. The yield on the three year FGN bond was 10.25 per cent compared to 11.69 per cent in the auction a month ago. The yield on the fiveyear issue was also lower than in June at 10.71 per cent (12.75 per cent) for the same maturity in June.) The drop in the NTB and NT Bond rates suggest an increase in investor appetite for these instruments given the unattractive nature of alternative investments. Figure 3 shows the volume of the NTB and FGN Auctions in the Primary Market.

THE NATION MONDAY, AUGUST 15, 2011

MOTORING

THE NATION

MONDAY, AUGUST 15, 2011

Website:- http://www.thenationonlineng.net

0803-4693-984 tajudeen1423@yahoo.co.uk

email:- motoring@thenationonlineng.net

•Toyota Land Cruiser

The 2011 Toyota Land Cruiser is an icon of Toyota brands. At a time manufacturers are trying to create a light-duty carlike crossover, the Land Cruiser continues to stay true to its 53-year history as a tough, all-terrain sportutility vehicle (SUV).To blend into stylish crossovers, the Land Cruiser has packaged its go-anywhere capability within a well-appointed shell, writes TAJUDEEN ADEBANJO

T the heart of this full-size SUV is a 5.7-litre V8 that pumps out 381 horsepower and 401 pound-feet of torque and it has been specifically designed to allow the Land Cruiser to either scramble up a craggy peak. Full-time four-wheel drive with low-range gearing further enhances the Land Cruiser’s off-road capability, as does its “Crawl Control,” a three-speed hill ascent and descent mode in which the throttle and brake are electronically manipulated to maintain a constant, controllable speed over challenging terrain, freeing the driver to concentrate on the obstacles ahead. Both on- and off-road abilities are enhanced

TOYOTA LAND CRUISER:

Refined for more comfort with Toyota’s Kinetic Dynamic Suspension System (KDSS), which automatically controls the front and rear antiroll bars depending on the driving conditions. Basically, this allows for more body control while cornering on pavement, a smoother ride on the highway and greater wheel articulation (travel) when navigating an off-road trail. As a large SUV, the 2011 Toyota Land Cruiser is a strong choice in the segment. True, it is quite expensive compared to most other large SUVs. But when looking at other direct competitors — the Range Rover and Mercedes-Benz GL-Class, for instance – one will likely find each falls well short on capability or value for the Naira. At the same time, the Land Rover LR4 offers similar capabilities but is notably cheaper. Body styles The car is a full-size luxury SUV available in just one well-appointed trim level. Standard equipment includes 18-inch alloy wheels, foglamps, heated and power-folding mirrors, a sunroof, keyless ignition/entry, front and rear parking sensors, a power tiltand-telescoping steering wheel, heated eightway power front seats with driver memory functions and adjustable lumbar, leather upholstery, four-zone automatic climate control, an auto-dimming rear-view mirror, Bluetooth phone and audio connectivity and a 14-speaker JBL audio system with a six-CD changer and an iPod/USB audio interface. The aforementioned KDSS also comes standard. Most options are bundled into the pricey upgrade package that includes a rear spoiler, a rear-seat entertainment system, a navigation system, real-time traffic update feature, a back-up camera, wood interior trim,

heated second-row seats and a centre console cooler box. The navigation system and rear spoiler can be ordered as stand-alone options, however. Powertrains and performance The car is powered by a 5.7-litre V8 engine that produces 381 hp and 401 lb-ft of torque. It is paired with a six-speed automatic transmission and a full-time four wheeldrive system with high-and low-range gearing. Safety Standard safety features include antilock disc brakes (with brake assist and multiterrain programming), stability control, front and second-row side airbags, front knee airbags, full-length side curtain airbags and active front head restraints. The car receives Toyota’s Safety Connect telematics system, which is similar to GM’s OnStar, notifying emergency responders if the airbags deploy or if a severe rear-end collision is detected. The optional advanced seatbelt system (which is included with the Upgrade package) will tighten the front seatbelts when the brakes are suddenly applied or when tire slippage is detected by the stability control system. And as with all of Toyota’s 2011 models, the Land Cruiser also has the company’s “Smart Stop,” a throttle override/brake enhancement system. Interior design and special features The 2011 Land Cruiser’s interior is as refined as a Toyota gets, with high-quality materials and excellent fit and finish. The cabin can accommodate eight passengers, though the third row is recommended only

for kids because of the flat seat bottom and high floor. Access to the third row is eased via a one-touch tumble-forward second-row seat. Middle-row occupants fare better with more space, along with slide and recline adjustments. With the rear seats in place, cargo space is 16 cubic feet or about the same as a midsize car’s trunk. The third-row seats do not fold down, nor are they removable. Instead, they fold up against the sides of the cargo bay — a rather awkward solution. Consequently, the Cruiser’s maximum cargo capacity is modest at 82 cubic feet, which is a relatively small figure for a large SUV. Driving impressions As with previous Toyota Land Cruisers, this year’s model has excellent off-road capability while still delivering a thoroughly comfortable ride on urban streets. When exploring the untamed wilds, the Land Cruiser’s crawl control takes much of the worry out of the hands (or feet) of the driver. Uphill or down, simply dial in the desired speed (as low as 1 mph), keep your feet off the gas and brake pedals, and steer in the desired direction. In the more maddening wilds of the urban jungle, the 2011 Toyota Land Cruiser behaves like the civilised luxury SUV it’s intended to be, soaking up bumps with composure and insulating driver and passengers from the outside world. When faced with curvy roads, the Land Cruiser remains relatively flat through corners, feeling surprisingly confident for such a large and heavy vehicle — a lot of credit goes to the KDSS active antiroll bars. Performance is also strong, with the 5.7litre V8 furnishing plenty of thrust for passing, towing or effortless freeway cruising, but expect it to be thirsty.

THE NATION MONDAY, AUGUST 15, 2011

MOTORING

Shettima launches tricycles distribution in Maiduguri

ORNO State Governor, Kashim Shettima has launched the distribution of about 1,500 tricycles to unemployed youths in Maiduguri, as part of efforts to tackle transportation problems in the metropolis. Shettima said it is a landmark in government’s efforts to solve the transportation problem in the metropolis. “As a responsible government, we must live up to our promises. “You will recall that I announced some time ago that

the government was putting in place measures to combat the transportation problem in the city,” he said. Shettima said the tricycles would help to provide employment for unemployed youths in addition to solving the transportation problem. “Last week we constituted a committee to work out a mechanism for the effective distribution of the tricycles for maximum effect.’’He said the launch was the result of the committee’s findings.

Shettima said the tricycles would be given out at about 45 per cent subsidy to the beneficiaries. “Each of the tricycles was purchased at N350, 000 but we are giving it out at N200,000 to the beneficiaries. “Each of them is expected to pay in 13 months 10 days,” he said. NAN reports that commuters in the metropolis have been facing acute transportation problem since the government banned the use of motorcycles a few weeks ago.

‘Bad roads not cause of accidents’

N automobile expert and Chairman, Folsot Truck Limited, Basorun Folarin Sotubo has argued that bad road-network in Nigeria is not the primary cause of several road mishaps the country has witnessed. In a chat with journalists in Sagamu, Sotubo blamed crashes on “impatience”. “We have bad roads but I don’t believe development is the primary reason or excuse for road crashes. The major cause of accident is impatience,” he said. Justifying his stance, he said: “In a situation of bad roads or pot holes if about three or four motorists driving closely are patient and give one another right of way they would avert

any accident that may happen. “It is the same impatience that prompts a motorist to over-speed without being fully conscious that the next spot he may find is a pothole.” He was of the view that if every motorist or road user could set out early enough for an appointment, road mishaps would soon be a thing of the past. Another important factor he identified is lack of expertise. He said most drivers are not properly trained, and they do not know what defensive or cautious driving is all about. He imagined a situation whereby congestion of vehicles was ahead and a driver of an on-coming ve-

hicle was still speeding in a bid to overtake. Sotubo made comparison between Nigeria and Kenya which he said does not really have fantastic roads but small and good road networks. He said: “In Kenya, motorists adhere strictly to highway codes and regulations, they don’t over speed and long vehicle drivers always give cars right of way. Road accidents are rare and you would hardly find an articulated vehicle careening. “The good thing about long vehicle drivers in Kenya is that they study in a driving academy. They don’t just get trained. That’s why on the road they drive even more maturely than car drivers.”

•Managing Director, Hyundai Motors Nigeria Limited Mr Parvir Singh presents car key to the Most Beautiful Girl in Nigeria, Miss Sylvia Nduka who represented Taraba State

Govt urged to build pedestrian bridges on Lagos-Ibadan Expressway

OTORISTS, commuters and pedestrians have called for the construction of pedestrian bridges at strategic areas on the Lagos–Ibadan Expressway, which is undergoing rehabilitation. Those who spoke to the News Agency of Nigeria (NAN) complained that the traffic gridlock resulting from the rehabilitation and expansion of the road was making motorists to drive against traffic. This, they explained, had further endangered the lives of pedestrians.

They said the bridges should be constructed at the Mountain of Fire and Miracles Camp, Asese, Mowe, NASFAT camp and the Redemption Camp sections of the road. Mr Gbolahan Ayeke, a resident of Ibafo—a busy town on the road, expressed worry that unsuspecting pedestrians could be hit by vehicles driving against traffic. He appealed to the Federal Road Safety Commission (FRSC) and the police to compel drivers to comply with traffic rules, especially now that reconstruction work was

ongoing on the road. Ayeke also urged the contractor to carry out much of the rehabilitation at night to reduce traffic congestion. Also, Mr Jide Ajayi, a commercial bus driver, told NAN that the construction of pedestrian bridges on the busy highway was overdue. Ajayi added that the traffic congestion resulting from the rehabilitation had become worrisome to all road users. “Apart from the time wasted, it brings serious tear and wear on our vehicles and the drivers’ health,’’ he said. Mr Chijoke Ndubuisi, a bus driver, also said that the building of pedestrian bridges on the road would save pedestrians from accidents. He said commuters and motorists would be relieved by the construction of the bridges and the rehabilitation of the highway. “What we face here because of this road rehabilitation is a headache and nightmare to drivers and passengers. “You can see that a two-lane road has turned into a six-lane road because everybody wants to pass through at the same time. “We have created more troubles for ourselves,’’ Ndubuisi said. Alhaji Mukaila Ayinla, a motorist, said construction of pedestrian bridges should be part of the general expansion of the highway. “These are some of the challenges the Federal Government and the construction company should sort out so that commuters will face less problems,” he said. Mrs Aduni Olaiya, a resident of Mowe, another busy settlement on the highway, who works at Ojota, Lagos, said the traffic gridlock and driving against traffic had made commercial motorists to increase their fares. An engineer with Bi Courtney, the company handling the rehabilitation of the road, told NAN on condition of anonymity that the company would do its best to reduce the difficulties faced by commuters and drivers. NAN reports that the Minister of Works, Mr Mike Onolememen, last month gave a 60-day ultimatum to Bi-Courtney to rehabilitate the bad portions of the road.

THE NATION MONDAY, AUGUST 15, 2011

RAMADAN NEWS

Dabiri-Erewa, Lagos Commissioner advise Muslims on unity

AGOS State Commissioner for Information and Strategy Lateef Ibirogba, Hon Abike Dabiri-Erewa and Hon. Deji Jakande have called on Muslims to reflect on national unity and nation-building as they seek the face of Allah in this solemn season. Ibirogba urged prayers for Fashola Administration, so that it can perform better than its first term, adding that only the grace of God can sustain any state or nation. He also charged Muslims to be above board in their undertakings, reminding them that it is part of their service to the creator. Dabiri-Erewa, who represents Ikorodu Federal Constituency, felicitated with the faithful for being alive to witness another fasting period, advising them to imbibe the Quran and the Hadith. Also, the chairman of Yaba Council, Hon Olajide Jimoh, asked the people of the area to pray for peaceful local government elections in October. Jimoh urged leaders at the three tiers of government to reflect on their mandate and commitment to their various constituencies, reminding them that they would render account to Allah, the giver of power, on judgment day.

By Emmanuel Oladesu, Deputy Political Editor

Ibirogba described the Ramadan period as a period of sober reflection, adding that the way Moslems conduct themselves after fasting is as important as they show reverence Allah in this holy period. “I enjoin our brothers and sisters to take heed and obey the teachings of Prophet Muhammed, as contained in the Quran, which came down in the period of Ramadan. As we pray, we should also remember our obligations to the government and our neighbours,” he said. The commissioner said: “This is a season of soberness and goodwill. As we deny ourselves to attract divine favour, we must remember that whatever we do after the season is as important like what we do now. To qualify for reward from Allah, the most compassionate, it is incumbent on us to do His will, walk before him in truth, obey the pillars of Islam and extend a duty of care to the tired, sick, poor, indigent and needy because all of us are partakers of His divine mercies. “May Allah, who made us to know the beginning of Ramadan enable us to witness the end in peace, comfort and robust health”.

•A cross section of Muslims breaking their fast during the Iftar Sahim with food provided by the World Assembly of Muslim Youth, at The Muslim Congress (TMC) Dawah Centre, Ijeshatedo, Lagos

Group fetes 1,000 Muslims

N international Islamic organisation, World Assembly of Muslim Youth (WAMY) has provided meals for 1,000 Muslims in Lagos to break their fast. The event, Iftar Sahim (Breaking of Fast) held at The Muslim Congress (TMC) Dawah Centre, Ijeshatedo, Lagos attracted muslims from different parts of the city for the organiser called joy of brotherhood. In his address, WAMY Director in Nigeria, Sheikh Shami Anushi Shami described Ramadan as a

By Tajudeen Adebanjo

month of blessings and mercy, hence the gesture. Muslims, Sheikh Shami said, should encourage the wealthy among them to provide meal for those who are fasting. This, he added, would among other righteous deeds make them reap the reward of the month. He urged his fellow faithful to emulate the early Muslims by spending more time reading the Holy Quran and pondering over its meanings. The Mufti of the Confer-

ence of Islamic Organisations (CIO), Sheikh Dhikrullahi Shafi’i hailed WAMY for the gesture. Sheikh Shafi’i urged other organisations to emulate WAMY to make the month a memorable one. Ramadan, the revered scholar said, is a month of mercy hence Muslims should fear Allah in going about their lawful ventures. He also urged them to dedicate the month of Ramadan to reading and studying the Holy Qur’an and to show love to their neighbours and respect for

one another. Muslims, he noted, are expected to show love and kindness to their neighbours and people of other faiths during and after Ramadan if they are to gain paradise. He called upon Muslims in the country to show piety, compassion and love for one another, as well as pray for the unity and progress of the country during the month of Ramadan. Sheikh Shafi’i enjoined them to desist from engaging in anti-social activities and assist the needy.

THE NATION MONDAY, AUGUST 15, 2011

NEWS Lawyer absolves self of bribery allegation THE National Legal Adviser of the Nigerian Bar Association (NBA) Mr. Victor Nwaugo has denied a report that he demanded a bribe of N50 million from the Police Area Commander of Aba, Abia State, Assistant Commissioner of Police Rabiu Dayi, over the death of a suspect. The suspect, Monday Nwakanma, was arrested for allegedly aiding and abetting kidnapping. He died in police custody. Nwaugo is representing his family. He said Dayi lied against him, stressing that he would not be involved in such act. In a letter sent to The Nation, he said: “By the said false, wicked, spurious, malicious and libelous publication made of and concerning the person of our client by you, Mr. Rabiu Dayi and published in a national newspaper with a wide circulation in virtually all parts of Nigeria, he has been ridiculed, exposed to hate, anger, rage, scorn and his esteem lowered in the mind of reasonable members of the society as a lawyer who offered to compromise the case of his client if paid Fifty Million Naira. “Following the said publication, lawyers all over Nigeria have been expressing their rage, anger, hate and scorn at him influenced by the said wicked and false publication. At the last Eastern Bar Forum Meeting (a meeting of all lawyers from old Eastern Region) held on Saturday, 9th July 2011, lawyers gathered in clusters talking the publication and one Ndu Agumagu, Chairman Isiokpo branch of NBA, confronted him with the said publication and demanded of him to sue you if he knows the publication to be false of else he would stop dealing with him as a man with reputation. “Since the said wicked publication, many of his clients have called to demand for their files. That he is currently, the National Legal adviser of NBA, whose duty it is to prosecute lawyers who engage in acts of professional misconduct in course of representing their clients like taking money to compromise the cases of their clients as falsely published by you.”

‘Establish Secondary Education Commission’

•One of the survivors, Miss Oyewunmi on hospital bed... yesterday

PHOTO: SULAIMAN SALAWUDEEN

One dead, three injured in Ekiti road accident A N accident involving a Toyota Hiace bus marked EK 513 AO and a Nissan car Number BQ 852 LNB on Ado-Iyin road in Ekiti State, yesterday left one Mr. Segun Fagbamila dead and three others sustaining serious injuries. The accident, according to one of the survivors, Miss Oyewumi Tosin, occurred at about 1:30 pm when the car in which she was travelling with her suitor, Segun Fagbamila and his brother, Igbagbo Fagbamila was suddenly rammed into by the on coming bus. Tosin, who has regained consciousness said the car was going at a low speed as confirmed by another survivor, Okolugbo Chibogo who

From Sulaiman Salawudeen, Ado Ekiti

was in the Bus. According to Okolugbo, who sustained leg and head injuries, the driver of the Ekiti Kete bus was actually over speeding and all of us in the bus had complained. “It was even a miracle that the bus got to where it got before the accident happened”, he said. Narrating how it happened, Okolugbo said: “We were coming from Lagos and the accident occurred just after a place called Iyin. The road was slippery and

the spot was a bend. If he was a normal person should he not have known he should apply the break when approaching a bend?. This man maintained the speed and lost control. He rammed into the oncoming car. None of us in the bus died but I think the driver of the car must have died now. “This is how all of them drive and when you warn them, they would increase their speed. I cannot understand these Ekiti Kete drivers at all. According to Dr. Olasupo Olusola, “the three survivors brought to the hospital sustained various degrees of in-

juries. They were brought in around 2 pm and we tried to stabilise them. “The one we cannot stabilise now is Igbagbo who sustained injuries on the head. He will need CT Scan which may compel us to refer him to Obafemi Awolowo University Teaching Hospital (OAUTH), Ife. His condition is critical”. Olusola confirmed there was a fourth person who was brought into the hospital dead and had been deposited at the mortuary. Police Public Relations officer (PPRO), Mr. Muhammed Jimoh confirmed the accident. He said the driver of the bus fled from the accident scene.

O arrest the dwindling quality and fortunes of secondary education in Nigeria, the Federal Government should establish a Secondary Schools Commission, Chairman of the Ministerial Visitation Panel to Federal Unity Colleges, Chief Sylvester Onoja, said at the weekend. He said: “For too long, the secondary sector of our education system has been left to function at the whims and caprices of individuals, organisations and states. The sector continues to expand with no defined regulatory body. It is the most marginalised sector of the education sector. The only available form of intervention by the federal government to public secondary schools ETF projects- has now been stopped. Sad enough, no substitute has been pronounced to shore up the derelicts we call secondary schools across the nation,” he said. He added: “This is the sector that has been victim of employment embargo in virtually all the states of the federation and at the national level. Secondary school enrolment continues to grow with fewer hands to manage the sector. Retirement by the aged continues with no equitable re-placement in the system... The federal government must bring its might to this sector through massive intervention in the provision of classrooms, teaching and learning facilities and professional salary for the retention of capable hands in the classroom.”

el-Rufai, BPE ex-Deputy Director face probe over alleged N25m bribe

ETECTIVES are to probe the alleged offer of a N25million bribe levelled against a former Minister of the Federal Capital Territory, Mallam Nasir el-Rufai. A former Deputy Director in the Bureau of Public Enterprises (BPE), Mr. Charles Osuji, on Saturday told a Senate public hearing that he collected a N25million cheque from the Chairman of Globacom, Dr. Mike Adenuga, for el-Rufai after the sale of National Oil. He said the former minister was the Director-General of the BPE at the time of the sale of the oil firm. He rejected the cheque offer but Osuji later returned with $100,000

From Yusuf Alli, Managing Editor, Northern Operation

cash, also from Adenuga, which el-Rufai equally rejected. Also, in a follow-up statement yesterday, the former Minister said he did not send Osuji to collect bribe from Adenuga. He said Osuji went on his own to demand bribe from the businessman. Investigation by our correspondent revealed that the Economic and Financial Crimes Commission (EFCC) may probe the allegation, especially what transpired before and after the offer of the bribe. A source said: “We are

awaiting the report of the Senate ad hoc Committee in order to be able to act on issues bordering on financial crimes. “We are certainly going to investigate the offer of bribe sums of N25million and $100,000 because there are a lot of gaps in the submissions of Osuji against el-Rufai, which require further attention. In a follow-up statement yesterday through his Media Adviser, Mr. Muyiwa Adekeye, the ex-Minister of FCT said: “As Osuji testified, he collected a bribe from Mike Adenuga, and el-Rufai never sought or collected bribe from anyone either in his 20 years of professional practice or in a decade of public

service. Osuji went on a frolic of his own, and collected the money, and then told el-Rufai about it. He rejected the bribe and ensured Osuji was punished for collecting it. That was the proper thing to do, and it was done. “Mike Adenuga offered the highest price for the National Oil and Chemical Company (NOLCHEM) when it was being privatised, and the BPE under elRufai’s leadership recommended his as the winning bid. el-Rufai’s BPE maintained the integrity of the bid process, despite intense pressures from the political leadership of Nigeria and at least one foreign govern-

•el-Rufai

ment. “The bidders for NOLCHEM were: Engen of South Africa, which was the former Exxon South Africa, Mike Adenuga of Consolidated Oil, Chief Igweh, the owner of Bolingo Hotels, Shell BV and a consortium led by Mr. Kola Abiola.”

Four suspected robbers killed in gun battle with Rivers police

OUR armed robbers lost their lives yesterday in a shoot-out with men of the Rivers State Police Command, in two separate incidents. The first robbery took place along Omagwa/Ozuoha Road, near the Port Harcourt International Airport. Two of the armed robbers, who were robbing villagers and vehicles travel-

From Bisi Olaniyi, Port Harcourt

ling from Port Harcourt, the Rivers State capital to neighbouring Owerri in Imo State, sustained fatal injuries in a gun battle with police patrol teams along Omagwa road. Rivers police spokesman Ben Ugwuegbulam, who confirmed the robbery, said

two guns were recovered from the hoodlums, who were rushed to an unnamed hospital, where they were confirmed dead. Ugwuegbulam assured that investigation into the crime would continue, in order to arrest the fleeing hoodlums. In the other incident, a gang of armed robbers invaded a house at Nkpor Vil-

lage in Rumuolumeni, Port Harcourt and were robbing occupants of one of the rooms, but the quick response from Rumuolumeni police division’s Anti-Robbery Team, saved the situation. It was gathered that on sighting the police patrol team, the hoodlums opened fire on the policemen, resulting into a gun duel, which led to two of the hoodlums sus-

taining fatal bullet injuries. The two injured robbers were taken to the Rivers State Government-owned Braithwaite Memorial Specialist Hospital (BMSH), near Government House, Port Harcourt, where they were confirmed dead. Rivers police spokesman also confirmed the incident

and disclosed that one locally-made pistol, with one expended cartridge, another revolver pistol, with two expended and two 9mm live ammunition were recovered from the robbers. Also recovered, according to Ugwuegbulam, were iron cutter, 14/15 ring spanner and clothes in sports bag, with investigations still continuing.

THE NATION MONDAY, AUGUST 15, 2011

MONEY LINK

CBN rolls out guidelines on PoS, card acceptance services

The Central Bank of Nigeria (CBN) has issued guidelines on the use of Point of Sale (PoS) terminals and card acceptance services. These guidelines have been developed to provide minimum standards and requirements for the operation of PoS card acceptance services under the countertop, wireless/portable, handover, automated dispenser, biometric point of sale, contactless and Point of Sale Card Acceptance Services Stakeholders. The Section 47 (3) of Central Bank of Nigeria Act 2007 (as amended) empowers the apex bank to issue guidelines for the maintenance of adequate and reasonable financial services for the public and to ensure high standards of conduct and management throughout the banking system. “All industry stakeholders who process and/or store cardholder information shall ensure that their terminals, applications and processing systems comply with the minimum requirements of the following Standards and Best Practices,” CBN said in a statement. Each vendor is also expected to provide valid certificates showing compliance with these standards, and must regularly review status of all its terminals to ensure they are still compliant as standards change. There will be a continuous review and recertification on compliance with these and other global industry standards from time to time. The new rule stipulates that only CBN licensed financial and non- financial institutions shall serve as Merchant Acquirers. They can also PoS Terminals, but shall only deploy and support such terminals through a CBN licensed Payment Terminal Services Provider (PTSP). They are also expected that such platforms accept all cards. Also, it should support existing PoS terminals already deployed which are expected to be handed over to PTSPs by November

Stories by Collins Nweze Senior Correspondent

1st, 2011. Also, Merchant Acquirers shall enter into agreements/contracts with merchants for accepting payment by means of electronic payment instrument. “All agreements/contracts shall clearly spell out the terms and conditions, including roles, responsibilities and rights of the acquirer and the merchant. The contract should also clearly spell out requirements for the merchant’s responsibilities in ensuring proper upkeep of the POS terminal,” the statement said.

ice and availability standards and expectations of the industry on a cost effective basis. As the Payments Terminal Service Aggregator for the industry, NIBSS is also expected to, on an annual basis or more frequently as may be required, on behalf of the industry certify PoS Terminals that meet the POS Terminal standards approved for the industry. “As the Payments Terminal Service Aggregator, NIBSS shall participate on a joint committee of industry stakeholders, to negotiate a price list with two to three terminal equipment providers for bulk purchase of POS terminals for the Nigerian market. It is expected that a bulk purchase agreement will enable cost reduction on POS terminals, as well as the abil-

Besides, to ensure effectiveness of POS operations and a proper support/maintenance infrastructure, only CBN licensed Payments Terminal Service Providers shall deploy, maintain and provide support for POS terminals in Nigeria. The Nigeria Interbank settlement Systems (NIBSS) - owned by all Nigerian banks and the Central Bank of Nigeria shall act as the Payments Terminal Service Aggregator for the financial system. As the Payments Terminal Service Aggregator for the industry, NIBSS shall establish communication network for reliable POS data traffic that shall satisfy the serv-

FINBANK Plc is enhancing e-payment initiatives in Nigeria through the introduction of multiple collection products. These products are e-hotel, e-portal (education), on-line church offerings (e-offering), to e-judiciary bill payments are designed to offer convenience and accountability. They also contribute to the on-going efforts to transform Nigeria to a cashless economy. The bank said it recognized the importance to offer products that will carter for this category of customers/prospects using Flashmecash- its pioneer electronic product.

based solution, which allows payments to be made on the website. Payments of fees are usually through local debit cards issued by any Nigerian bank. The bank said that beyond integrating the schools which the portal has been deployed to the Flashmecash payment engine, the bank has also integrated Interswitch, Visa and E-tranzact payment engines for receipt of payment for local and international transactions. The key benefit of the e-portal to the school is that it provides a detailed payment-monitoring tool for the institution. The platform equally improves operational efficiency of schools, reduce

The educational portal solution or e-portal is a real-time, interactive and web-based platform that contains robust database of all students, members of staff and other information about a school. It uniquely identifies all students of a given educational institution, giving them access to a personalized “virtual domain” to perform various activities ranging from application for admission, registration of courses, payment of fees, checking of results, record of the number of students, etc. The e-portal is well secured with a payment engine embedded in the web-

According to him, the increasing price of diesel and kerosene were major factors in propelling the CPI spike in the second quarter. The transportation cost of food from farms to markets increased due to the 23 per cent hike in the price of diesel and diesel is the fuel for most commercial and haulage

the year. According to FDC Bi-Monthly Economic Update, the year on year Consumer Price Index (CPI) dropped to its lowest year to date level of 10.2 per cent in June, from 12.4 per cent and that core inflation is likely to persist in second quarter due to increasing fuel costs.

Rate %

M/Date

3-Year 5-Year 5-Year

35m 35m 35m

11.039 12.23 13.19

19-05-2014 18-05-2016 19-05-2016

WHOLESALE DUTCH AUCTION SYSTEM Amount Amount Offered ($) Demanded ($)

MANAGED FUNDS Initial Current Quotation Price Market N8250.00 5495.33 N1000.00 N552.20

Price Loss 2754.67 447.80

INTERBANK RATES 7.9-10% 10-11%

PRIMARY MARKET AUCTION (T-BILLS) Amount 30m 46.7m 50m

Rate % 10.96 9.62 12.34

Date 28-04-2011 “ 14-04-2011

GAINERS AS AT 12-8-11 SYMBOL DIAMONDBNK WAPCO GUARANTY CCNN NCR DANGSUGAR SKYEBANK UBA FIRSTBANK PRESCO

O/PRICE 4.20 42.01 12.22 7.22 3.41 11.30 5.45 4.45 10.35 7.13

C/PRICE 4.41 44.11 12.83 7.58 3.58 11.86 5.72 4.67 10.86 7.48

CHANGE 0.21 2.10 0.61 0.36 0.17 0.56 0.27 0.22 0.51 0.35

LOSER AS AT 12-8-11 SYMBOL DANGFLOUR TRANSCORP OANDO CUTIX CILEASING NBC NEM FLOURMILL CONTINSURE IHS

O/PRICE 16.00 1.00 30.46 2.09 0.95 43.00 4.52 0.51 86.47 2.81

vehicles. He said that average money market rates remained relatively flat two weeks after the MPR increase was effected. Average Rates on the day of the announcement stood at 9.2 per cent per annum, and has recorded a marginal drop to 9.1 per cent as at August 5, 2011.

DATA BANK

Amount N

Tenor 91-Day 182-Day 1-Year

operational costs and improve turnaround time. This service has also been replicated for the judiciary and hotels. The e-judiciary solution is a portal which helps to automate the current manual process in the law courts. Reports, cases, and other law publications can be posted on-line for ease of access by the lawyers and the public. Purchase of judicial publications can also be carried out through the e-judiciary portal by making on-line payment via the debit cards issued by any interswitch member banks.

MPR increase may affect price stability’

' THE Managing Director, Financial Derivatives Company (FDC) Limited, Bismark Rewane has said decision of the Monetary Policy Committee (MPC) to increase the Monetary Policy Rate (MPR) from eight per cent to 8.75 per cent may highlights impending risks to price stability in the second half of

Tenor

OBB Rate Call Rate

ity to define special requirements for the Nigerian market, and ensure a sufficient support infrastructure from the terminal manufacturers,” the CBN said.

FinBank enhances e-payment with multiple products

FGN BONDS

NIDF NESF

•CBN Governor, Lamido Sanusi Lamido

C/PRICE 15.20 0.95 28.94 1.99 0.91 42.00 0.50 85.00 1.02 2.80

CHANGE 0.80 0.05 1.52 0.10 0.04 1.00 0.01 1.47 0.01 0.01

Amount Sold ($)

Exchange Rate (N)

Date

450m

452.7m

450m

150.8

08-8-11

250m

313.5m

250m

150.8

03-8-11

400m

443m

400m

150.7

01-8-11

EXHANGE RATE 30-05-11 CAPITAL MARKET INDEX Currency

Year Start Offer

Current Before

C u r r e n t CUV Start After %

NGN USD NGN GBP

147.6000 239.4810

149.7100 244.0123

150.7100 245.6422

-2.11 -2.57

NGN EUR

212.4997

207.9023

209.2910

-1.51

149.7450

154.0000

154.3000

-3.04

Bureau de Change 152.0000

153.0000

155.5000

-2.30

(S/N) Parallel Market

154.0000

156.0000

-1.96

NSE CAP Index

NIGERIA INTER BANK (S/N)

11-08-11 N7.162tr 22,390.45

12-08-11 N7.285tr 22,775.55

% Change +1.72% +1.72%

MEMORANDUM QUOTATIONS Name

(S/N)

153.0000

DISCOUNT WINDOW January ’11

February ’11

July ’11

MPR

6.50%

8.75%

Standing Lending Rate ,, Deposit Rate ,, Liquidity Ratio Cash Return Rate Inflation Rate

8.50% 4.50% 25.00% 1.00% 12.10%

8.50% 4.50% 25.00% 2.00% 12.10%

9.50% 5.50% 30.00% 2.00% 10.2%

Offer Price

Bid Price

9.17 1.00 117.62 112.11 0.81 1.00 0.98 1,620.90 9.61 1.39 1.87 8,827.74 193.00

9.08 1.00 117.16 111.16 0.78 1.00 0.97 1,618.90 9.14 1.33 1.80 8,557.73 191.08

ARM AGGRESSIVE KAKAWA GUARANTEED STANBIC IBTC GUARANTE AFRINVEST W.A. EQUITY FUND THE LOTUS CAPITAL HALAL BGL SAPPHIRE FUND BGL NUBIAN FUND NIGERIA INTERNATIONAL DEB. PARAMOUNT EQUITY FUND CONTINENTAL UNIT TRUST CENTRE-POINT UNIT TRUST STANBIC IBTC NIG EQUITY THE DISCOVERY FUND • ARM AGGRESSIVE • KAKAWA GUARANTEED • STANBIC IBTC GUARANTE • AFRINVEST W.A. EQUITY FUND

NIBOR Tenor 7 Days 30 Days 60 Days 150 Days

Rate (Previous) 04 MAR, 2011 9.0417 9.6667 11.2917 12.1250

Rate (Currency) 24, MAY, 2011 10.17% 11.46% 11.96% 12.54%

Movement

OPEN BUY BACK Previous

Current

04 MAR, 2011

07, MAR, 2011

Bank

8.5000

P/Court

8.0833

Movement

THE NATION MONDAY, AUGUST 15, 2011

EQUITIES NIGERIAN STOCK EXCHANGE DAILY SUMMARY AS AT 12-08-11 2ND-TIER SECURITIES Company Name ADSWITCH PLC Sector Totals

No of Deals 1 1

Quotation(N)Quantity Traded Value of Shares (N) 1.79 14,000 25,060.00 14,000 25,060.00

AGRICULTURE/AGRO-ALLIED Company Name FTN COCOA PROCESSORS PLC PRESCO PLC Sector Totals

No of Deals 3 6 9

Quotation(N)Quantity Traded Value of Shares (N) 0.50 900 450.00 7.48 130,500 966,120.00 131,400 966,570.00

AIR SERVICES Company Name AIRLINE SERVICES AND LOGISTICS PLC NIGERIAN AVIATION HANDLING COMPANY PLC Sector Totals

No of Deals 4 31 35

Quotation(N)Quantity Traded Value of Shares (N) 2.23 19,140 40,576.80 6.82 261,396 1,859,051.71 280,536 1,899,628.51

AUTOMOBILE & TYRE Company Name DN TYRE & RUBBER PLC R. T. BRISCOE (NIGERIA) PLC Sector Totals

No of Deals 2 21 23

Quotation(N)Quantity Traded Value of Shares (N) 0.50 10,000 5,000.00 1.39 155,060 224,793.00 165,060 229,793.00

BANKING Company Name ACCESS BANK PLC DIAMOND BANK PLC ECOBANK NIGERIA PLC FIRST CITY MONUMENT BANK PLC FIDELITY BANK PLC FIRST BANK OF NIGERIA PLC FINBANK PLC GTBANK PLC STANBIC IBTC BANK PLC INTERCONTINENTAL BANK PLC. OCEANIC BANK INTERNATIONAL PLC SKYE BANK PLC. STERLING BANK PLC UNITED BANK FOR AFRICA PLC. UNION BANK OF NIGERIA PLC UNITYBANK PLC WEMA BANK PLC ZENITH BANK PLC Sector Totals

No of Deals 128 31 28 73 56 365 17 173 28 21 23 84 52 292 22 63 16 180 1,652

Quotation(N)Quantity Traded Value of Shares (N) 6.12 5,391,042 32,863,581.73 4.41 10,361,327 45,693,342.07 2.90 344,878 1,009,333.31 6.25 12,717,423 77,632,026.35 1.80 22,244,146 38,504,870.25 10.86 8,804,511 95,535,830.18 0.50 1,951,526 975,763.00 12.83 7,711,865 98,943,227.95 9.50 809,000 7,671,192.00 0.70 2,097,500 1,468,250.00 1.15 4,212,800 4,844,720.00 5.72 13,405,054 75,970,492.42 1.44 15,107,997 22,185,033.11 4.67 30,401,583 140,361,154.88 2.09 403,287 842,869.83 0.59 6,870,076 4,072,005.40 0.76 581,185 437,700.56 13.52 4,274,742 57,813,457.43 147,689,942 706,824,850.47

BREWERIES Company Name GUINNESS NIGERIA PLC INTERNATIONAL BREWERIES PLC NIGERIAN BREWERIES PLC Sector Totals

No of Deals 69 6 90 165

Quotation(N)Quantity Traded Value of Shares (N) 220.00 365,732 80,454,573.28 6.10 31,328 182,015.68 86.00 956,665 82,116,536.27 1,353,725 162,753,125.23

BUILDING MATERIALS Company Name ASHAKA CEMENT PLC CEMENT CO. OF NORTHERN NIGERIA PLC DANGOTE CEMENT PLC LAFARGE WAPCO PLC Sector Totals

No of Deals 42 20 13 28 103

Quotation(N)Quantity Traded Value of Shares (N) 22.00 1,867,606 40,416,223.32 7.58 590,205 4,458,133.30 117.00 15,061 1,732,395.94 44.11 488,299 20,902,806.56 2,961,171 67,509,559.12

CHEMICAL & PAINTS Company Name BERGER PAINTS NIGERIA PLC CHEMICAL AND ALLIED PRODUCTS PLC DN MEYER PLC Sector Totals

No of Deals 3 14 1 18

Quotation(N)Quantity Traded Value of Shares (N) 9.34 20,000 177,600.00 28.00 33,120 912,580.08 1.38 424 559.68 53,544 1,090,739.76

COMMERCIAL/SERVICES Company Name RED STAR EXPRESS PLC Sector Totals

No of Deals 14 14

Quotation(N)Quantity Traded Value of Shares (N) 3.12 236,500 728,433.00 236,500 728,433.00

COMPUTER & OFFICE EQUIPMENT Company Name NCR (NIGERIA) PLC. OMATEK VENTURES PLC Sector Totals

No of Deals 2 1 3

Rights trading: Investors kick against denial of rights SOME investors who purchased shares during the recent trading of rights of Premier Breweries Plc have protested alleged attempt by parties to the rights issue to deny them their duly purchased rights. Premier Breweries had recently floated a rights issue of 867.68 million ordinary shares of 50 kobo each at N1.00 per share, on the basis of seven new shares for every one share previously held by its shareholders as at July 31, 2010. The renounced rights were subsequently traded on the NSE, which give existing and new investors opportunity to buy the renounced shares. Under trading in rights, the buyer usually purchases the shares at the current market value on board at the Nigerian Stock Exchange (NSE). The premium on the actual rights issue price will go to the selling shareholder while the actual price will revert to the issuer. In a petition to the Securities and Exchange Commission (SEC) and NSE, the investors decried attempts by the issuer and other parties to the issue to deny them the purchased rights after they have duly made payment and fulfilled all conditions. The petitioners claimed that they had participated in the rights of Premier Breweries Plc, which was sold on the floor of the Nigerian Stock Exchange (NSE) on June 27 this year and thereafter forwarded all neces-

Quotation(N)Quantity Traded Value of Shares (N) 3.58 50,998 182,572.84 0.50 2,000 1,000.00 52,998 183,572.84

No of Deals 1 49 26 55 48 179

Quotation(N)Quantity Traded Value of Shares (N) 1.99 1,000 1,900.00 41.01 2,419,750 99,189,943.14 0.95 826,443 794,384.85 39.81 386,953 15,096,056.28 28.00 794,808 21,977,912.42 4,428,954 137,060,196.69

sary documents, required for the transaction together with a cheque for noting charges to the Exchange. According to them, On 11 July, 2011, returns were made to UBA Registrars Limited and noted documents, the remittance schedules and Fidelity Bank Manager’s cheque number 570537 in the sum of N8,766,562.00 made payable to UBA registrars- Premier Breweries rights account were submitted and acknowledged the same date. The y were however surprised when on July 18, 2011, a week after returns were received and funds cleared into the issuing account, to see a letter from UBA Registrars with a Manager’s Cheque notifying them that the returns were rejected. “It appears some individuals with vested interest are bent on disenfranchising shareholders from trading and/or taking up their rights. This trend is unhealthy for the market considering the concerted efforts of the regulators to boost and restore investor’s confidence in the market,” the investors noted. Already, both SEC and NSE are investigating the circumstances surrounding the rejection of the rights. Sources at SEC and NSE confirmed receipt of the petition stating that capital market regulators would ensure that the sanctity of the trades on the secondary market is protected.

DAILY SUMMARY AS AT 12-08-11 MUTUAL BENEFITS ASSURANCE PLC N.E.M. INSURANCE CO. (NIG.) PLC. NIGER INSURANCE CO. PLC. PRESTIGE ASSURANCE PLC. Sector Totals

1 29 2 2 135

No of Deals 3 17 20

Quotation(N)Quantity Traded Value of Shares (N) 2.66 14,296 38,027.36 51.97 136,683 7,455,404.48 150,979 7,493,431.84

ENGINEERING TECHNOLOGY Company Name CUTIX PLC Sector Totals

No of Deals 5 5

Quotation(N)Quantity Traded Value of Shares (N) 1.99 153,000 304,470.00 153,000 304,470.00

FOOD/BEVERAGES & TOBACCO Company Name 7-UP BOTTLING CO. PLC CADBURY NIGERIA PLC DANGOTE FLOUR MILLS PLC DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIGERIA PLC HONEYWELL FLOUR MILL PLC NATIONAL SALT COMPANY NIGERIA PLC NIGERIAN BOTTLING COMPANY PLC NESTLE NIGERIA PLC NORTHERN NIGERIA FLOUR MILLS PLC Sector Totals

No of Deals 7 39 33 84 47 14 7 16 37 5 289

Quotation(N)Quantity Traded Value of Shares (N) 45.00 6,999 324,721.50 16.50 365,494 6,157,953.94 15.20 213,851 3,250,535.20 11.86 3,235,515 37,699,762.77 85.00 392,889 33,305,871.54 622,200 2,581,836.20 4.20 4.50 255,120 1,148,040.00 42.00 89,892 3,748,093.73 400.00 85,660 33,848,039.49 23.80 2,916 71,078.02 5,270,536 122,135,932.39

HEALTHCARE Company Name EVANS MEDICALPLC. FIDSON HEALTHCARE PLC GLAXOSMITHKLINE CONSUMER NIG. PLC MAY & BAKER NIGERIA PLC. UNION DIAGNOSTIC & CLINICAL SERVICES PLC Sector Totals

No of Deals 12 11 12 33 1 69

Quotation(N)Quantity Traded Value of Shares (N) 0.98 266,854 260,464.62 1.83 159,751 291,439.26 25.62 14,568 388,492.35 4.00 289,500 1,131,768.00 0.50 100 50.00 730,773 2,072,214.23

HOTEL & TOURISM Company Name CAPITAL HOTEL PLC Sector Totals

No of Deals 10 10

Quotation(N)Quantity Traded Value of Shares (N) 6.83 1,650,000 11,227,500.00 1,650,000 11,227,500.00

INDUSTRIAL/DOMESTIC PRODUCTS Company Name B. O. C. GASES NIGERIA PLC VITAFOAM NIGERIA PLC Sector Totals

No of Deals 6 8 14

Quotation(N)Quantity Traded Value of Shares (N) 7.45 25,000 177,000.00 5.70 14,595 86,521.00 39,595 263,521.00

INFORMATION & COMMUNICATION TECHNOLOGY Company Name CHAMS PLC IHS NIGERIA PLC STARCOMMS PLC Sector Totals

No of Deals 1 8 15 24

Quotation(N)Quantity Traded Value of Shares (N) 0.50 1,300 650.00 2.80 50,992,857 136,163,304.19 0.50 728,905 365,023.90 51,723,062 136,528,978.09

Company Name C&I LEASING PLC Sector Totals

No of Deals 7 7

340 16,543,900 2,900 117,712 25,940,097

170.00 8,328,468.00 1,450.00 198,933.12 18,438,905.39

Quotation(N)Quantity Traded 0.91 187,500 187,500

Value of Shares (N) 172,869.00 172,869.00

Quotation(N)Quantity Traded 0.95 1,178,830 1,178,830

Value of Shares (N) 1,119,308.50 1,119,308.50

MARITIME Company Name JAPAUL OIL & MARITIME SERVICES PLC Sector Totals

No of Deals 45 45

MORTGAGE COMPANIES Company Name ASO SAVINGS AND LOAND PLC UNION HOMES SAVINGS AND LOANS PLC Sector Totals

No of Deals 2 6 8

Quotation(N)Quantity Traded 0.50 400,000 0.52 150,000 550,000

Value of Shares (N) 200,000.00 78,000.00 278,000.00

OTHER FINANCIAL INSTITUTIONS Company Name CRUSADER NIGERIA PLC. ROYAL EXCHANGE PLC Sector Totals

No of Deals 3 7 10

Quotation(N)Quantity Traded 0.50 90,000 0.50 513,968 603,968

Value of Shares (N) 45,000.00 257,004.00 302,004.00

Quotation(N)Quantity Traded 2.08 1,229,576 12.71 5,000 1,234,576

Value of Shares (N) 2,522,817.82 60,400.00 2,583,217.82

PACKAGING Company Name NIGERIAN BAG MANUFACTURING COMPANY PLC BETA GLASS CO. PLC Sector Totals

No of Deals 68 1 69

PETROLEUM(MARKETING) Company Name BECO PETROLEUM PRODUCT PLC MRS OIL NIGERIA PLC CONOIL PLC ETERNA OIL & GAS PLC. FORTE OIL PLC MOBIL OIL NIGERIA PLC. OANDO PLC TOTAL NIGERIA PLC Sector Totals

No of Deals 2 8 20 5 3 23 146 13 220

Quotation(N)Quantity Traded 0.50 184,000 67.22 6,720 32.60 62,023 5.20 24,600 18.32 6,575 156.50 24,511 28.94 3,653,204 203.32 7,877 3,969,510

Value of Shares (N) 92,000.00 432,419.20 1,973,428.67 121,524.00 114,470.75 3,702,559.18 105,723,723.76 1,523,017.99 113,683,143.55

PRINTING & PUBLISHING Company Name LONGMAN NIGERIA PLC UNIVERSITY PRESS PLC Sector Totals

No of Deals 6 4 10

Quotation(N)Quantity Traded 5.00 51,760 4.39 10,552 62,312

Value of Shares (N) 248,458.00 44,401.36 292,859.36

Quotation(N)Quantity Traded 18.20 2,561,690 2,561,690

Value of Shares (N) 43,746,857.00 43,746,857.00

REAL ESTATE Company Name UACN PROPERTY DEVELOPMENT CO. PLC Sector Totals

No of Deals 22 22

ROAD TRANSPORTATION

INSURANCE Company Name No of Deals AIICO INSURANCE PLC. 24 CONTINENTAL REINSURANCE PLC 4 CORNERSTONE INSURANCE CO. PLC. 1 CUSTODIAN AND ALLIED INSURANCE PLC 7 GOLDLINK INSURANCE PLC 4 GUARANTY TRUST ASSURANCE PLC 54 INTERNATIONAL ENERGY INSURANCE COMPANY PLC 3 LAW UNION AND ROCK INSURANCE PLC. 3 LINKAGE ASSURANCE PLC 1

0.50 0.50 0.50 1.69

LEASING

CONSTRUCTION Company Name COSTAIN (WA) PLC JULIUS BERGER NIGERIA PLC Sector Totals

Premier Breweries embarked on the rights issue to raise funds to jumpstart production, upgrade existing storage facilities and provide efficient working capital. Premier Breweries is currently trading at 97 kobo on the NSE. Meanwhile, the stock market still closed last week on the negative in spite of the recovery towards the end of the week. The NSE All Share Index depreciated by 2.64 per cent to close Friday at 22,775.55 while the market dropped to N7.285 trillion. The NSE-30 Index also depreciated by 2.81% to close at 1,015.02. out of the four sectoral indices, the NSE Food & Beverage Index was the only one that appreciated with a gain of 0.23 per cent to close at 791.11. The NSE Banking Index depreciated by 7.59 points to close at 321.79, the NSE Insurance Index depreciated by 8.21 points to 147.54 while the NSE Oil & Gas Index depreciated by 9.1 per cent to close at 261.47. Total turnover stood at 1.70 billion shares worth N12.126 billion in 22,153 deals last week as against 1.38 billion shares valued at N9.978 billion exchanged in 23,728 deals in the previous week. The banking subsector was the most active with 998.95 million shares worth N6.79 billion in 13,189 deals. Insurance subsector followed the activity chart with a turnover of 229.57 million shares valued at N165.01 million in 816 deals.

NIGERIAN STOCK EXCHANGE

CONGLOMERATES Company Name A. G. LEVENTIS (NIGERIA) PLC PZ CUSSONS NIGERIA PLC TRANSNATIONAL CORPORATION OF NIGERIA PLC UAC OF NIGERIA PLC UNILEVER NIGERIA PLC Sector Totals

By Taofik Salako and Tonia Osundolire

Quotation(N)Quantity Traded Value of Shares (N) 0.59 462,737 270,007.91 1.02 259,504 263,099.00 0.50 10,000 5,000.00 2.60 111,230 302,007.84 0.50 636,050 318,025.00 1.14 7,663,668 8,684,916.52 0.50 101,556 50,778.00 0.54 30,000 15,800.00 0.50 500 250.00

Company Name ASSOCIATED BUS COMPANY PLC Sector Totals

No of Deals 1 1

Quotation(N)Quantity Traded 0.50 4,700 4,700

Value of Shares (N) 2,350.00 2,350.00

THE FOREIGN LISTINGS Company Name ECOBANK TRANSNATIONAL INCORPORATED Sector Totals Overall Totals

No of Deals 13 13

Quotation(N)Quantity Traded 14.30 538,950 538,950 3,173 253,917,908

Value of Shares (N) 7,723,830.00 7,723,830.00 1,547,640,920.79

THE NATION MONDAY, AUGUST 15, 2011

FOREIGN NEWS Attack suspect returns to scene THE suspect accused of ambushing a political youth retreat and killing dozens of people in Norway last month returned to the island where the shooting rampage took place as part of a police investigation, authorities said yesterday. Police said attack suspect Anders Behring Breivik “was not emotionally unmoved” during his return to Utoya island Saturday. “He did not express any regrets about what he had done,” Police Prosecutor Pal-Fredrik Hjort Kraby told reporters.

Egypt’s Islamists challenge rulers EGYPT’S largest political group, the Muslim Brotherhood, warned the country’s military rulers Saturday not to interfere in the writing of a new constitution. The statement from the Brotherhood marks the first time the Islamist group has directly challenged Egypt’s ruling military council since the ouster of former President Hosni Mubarak in February. The group’s stand was prompted by comments from a senior government official this week that the military council will soon set out certain principles outlining who is eligible to draft a new constitution. The Brotherhood also fears the military is trying to enshrine a political role for itself in the constitution.

Hamas, USAID reach pact on Gaza

Obama, Saudi monarch seek end to Syria killings

AUDI Monarch and Custodian of the Two Holy Mosques King AbdulAziz Abdullah and United States President Barack Obama have demanded that the Syrian regime “immediately” halt its brutal crackdown on protesters. Obama and his key Arab ally in the region “expressed their shared, deep concerns about the Syrian government’s use of violence against its citizens,” the White House said in a statement. “They agreed that the Syrian regime’s brutal campaign of violence against the Syrian people must end immediately, and to continue close consultations about the situ-

ation in the days ahead.” King Abdullah and Obama also discussed ways of strengthening bilateral relations as well as major regional and international issues, the Saudi Press Agency said. The call came after Saudi Arabia recalled its ambassador from Damascus on Monday and King Abdullah said the Syrian crackdown is not acceptable. “Syria should think wisely before it is too late ... and enact reforms that are not merely promises but actual reforms.” Kuwait and Bahrain followed suit this week, while the Gulf Cooperation Council and the Arab League condemned the violence that has left more

than 2,150 people dead, including more than 400 members of the security forces, according to rights activists. Despite the two leaders’ appeal Saturday, Syria continued its bloody crackdown on dissent. Troops killed three people as tanks swept into a coastal city, activists said. Since the start of Ramadan in early August, President Bashar Assad has stepped up the military campaign, launching army assaults on the central city of Hama and the city of Deir Al-Zour. After a wave of Arab criticism of Damascus last week, the Jeddah-based Organisation of Islamic Cooperation (OIC) accused Syria of using

• Obama

“excessive armed force” and called on Damascus to stop the bloodshed. OIC Secretary-General Ekmeleddin Ihsanoglu urged Assad “to exercise utmost restraint through the immediate halt to the use of force to suppress popular demonstrations.”

London riots: Home Secretary defends approach to policing

OME Secretary Theresa May has defended the government’s handling of police over riots in England, saying it was clear the public wanted “tough action”. “Ministers must ensure the police know what the public expect of them,” she told the BBC. Acting Met chief Tim Godwin had accused MPs of “inconsistency of guidance”, and other officers were uneasy at US expert Bill Bratton advising ministers. Extra police are still on city streets, and the weekend has

seen no unrest. Weekend court sittings are continuing in London and Birmingham to hear the cases of more than 1,200 people charged since violence flared last weekend. Among those appearing before Birmingham magistrates were Joshua Donald, 26, and a 17-year-old boy who will return to crown court on Monday charged with the murders of three men hit by a car during disruption in the city. West Midlands Police said

about 5,000 people attended a peace rally on Sunday afternoon in Winson Green, the neighbourhood where the men were killed. Tariq Jahan, the father of 21-year-old Haroon Jahan, said: “I don’t know what to say, but seeing everyone here gives me strength in my heart.” He added: “He didn’t die in vain and I hope this community will remember them.” Meanwhile, politicians and senior police officers continue to be at odds over the han-

dling of public disorder. Mrs May said it was clear the police had to change tactics after rioting spread across London. “I was as concerned as the public were about the scenes we saw of people being able to loot without anything appearing to happen to them,” she said. “They wanted to see more police on the streets but also tough action to go in and arrest people, and actually that is what the police started to do.” Bratton is credited for cutting crime after the 1992 LA riots.

AMAS and the USAID have reached a compromise to maintain the flow of aid, a senior Hamas official said Saturday. USAID suspended its operations in the coastal strip last Friday over alleged meddling by Hamas. Under the agreement, Hamas has renounced for a “threemonth period” its demand to verify the accounts of NGOs financed by the US Agency for International Development in the Palestinian territories, the Hamas official said. “We are keen on the continuation of the international institutions’ work and their services to our people,” he said. The official, who participated in the mediated talks, said the sides were now working toward an agreement on mechanisms that ensure “transparency and internal accountability of these international organizations. “There will be “no control over their work,” he added. But a spokesman for Hamas said foreigners must now obtain visas to enter the Gaza Strip. Ihab Ghussein’ said the government must know who is staying in Gaza in order to protect foreigners. If implemented, the visa demand could complicate the work of international aid groups in Gaza since the US and UN consider Hamas a terrorist organization. As such, many international aid groups are prohibited from having direct contact with Hamas or providing the group with cash.

THE NATION MONDAY, AUGUST 15, 2011

NATION SPORT

France beats Nigeria 3-2 in extra time

RANCE defeated Nigeria 3-2 in extra time on Sunday to advance to the semifinals of the Under-20 World Cup. France will face Portugal in Wednesday's semifinal. Gueida Fofana gave France a 2-1 lead in the 102nd

minute, and two minutes later Alexandre Lacazette picked up his second of the match to seal the victory. Maduabuchi Ejike scored his second goal of the match in the 111th to give Nigeria a chance. Nigeria equalized in the fi-

nal seconds of second-half stoppage time on a header

by Ejike. Lacazette scored his first in the 50th to give

France the lead. This is the first time France has reached the semifinals of the Under-20 World Cup. Portugal has twice won the title.

Real Madrid holds Barcelona 2-2

T was an action-packed affair at Santiago Bernabeu on Sunday night, as bitter rivals Real Madrid and Barcelona

went head-to-head in the firstleg of the Spanish Supercopa, and despite the hosts dominating much of the contest, the

• France's player Antoine Griezmann (L) vies for the ball with Abdul Ajagun of Nigeria during their FIFA World Cup U20 football match

sides played out an entertaining 2-2 draw. Jose Mourinho opted to use the exact same team that lost 5-0 at Camp Nou last season. His men continued to control the tempo of the game, and their domination of possession would soon pay off. After just 13 minutes, Benzema, eagerly getting himself involved again, strode towards goal, picking up markers as he went. As the teams began the second half, it would be the Spanish champions who looked the sharper of the two sides, perhaps buoyed by their goal advantage, but the new-found enthusiasm wouldn't last long. However, Madrid's monopolising of possession continued, leading to a selection of golden chances for the capital side. Jose Callejon watched as his assist for Ronaldo sailed over the bar following a volley, while Ozil looked on as his cross for Benzema was one again met with a tame header. For all their dominance, Madrid couldn't seem to capitalise on their chances. With the match characterised, the remaining minutes petered out without any real clear-cut chances from either side, both teams clearly happy to accept what seemed to be inevitable. Jose Mourinho will be unhappy that his men don't have the advantage, but will undoubtedly be aiming to finish the job in the second leg.

Mikel's dad missing

OHN Mikel Obi’s father has gone missing in the Nigerian city of Jos. Michael Obi, who runs an interstate transport company, did not return home from work on Friday evening and has not been seen since. Calls to his cellphone went unanswered all of Friday, and by Saturday, the phone was no longer reachable. Mikel was informed on Saturday morning shortly before traveling with the Chelsea squad for Sunday’s Premier League meeting with Stoke. It is not clear as yet if it is an abduction, the player's manager John Shittu told KickOffNigeria.com. “At the moment we have not heard from Mikel's father, or anyone else, so we don't know what it is. At this point, we only consider him missing,” Shittu told KickOffNigeria.com. Although the midfielder saw out all 90 minutes of Chelsea's 0-0 draw with Stoke, Shittu said the 24-year old is devastated. “He is totally devastated. We were not sure whether to tell him before the game. But after speaking to the manager, and Mike Emenalo, we agreed that he had a right to be informed if such a serious incident. He was under a lot of stress, but he showed a lot of character and mental strength to play against Stoke.”

TOMORROW IN THE NATION

MONDAY, AUGUST 15, 2011 TRUTH IN DEFENCE OF FREEDOM

‘Cut the thunder, fury and judicial bombast, the trials of Justice Salami has to do with the fit of rogue elements of the Nigerian estabslishment, who cannot reconcile themselves to Justice Salami’s courage that every stolen mandate must be retrieved.’ OLAKUNLE ABIMBOLA

VOL. 6, NO. 1,853

C OMMENT & D EB ATE EBA

IGHT from its inception, the Niger Delta Development Commission (NDDC) has carried the image of a cash cow. Many want the cash, but they do not care if the cow breathes or dies. It came to earth to cure the ills of the Niger Delta region, a perennial victim of primeval exploitations by a political-military elite as well as conquering oil companies. Some have described it as an intervention agency to build infrastructure, elevate the welfare of the people, give them schools and health centres. It was set up to save the people. From its outset, perceptive analysts have seen it as a means of salving the conscience of a primitive class, rippling with greed and violence against the region. But after many years, the impression has sunk that the same people who established it have hijacked it. Rather than heal the people, it is a temptation to personal glory by the same corps of political and military elite. So the cow has continued to explode with cash, while the body rots. This calls to mind what Tom Paine, a pamphleteer of the American revolution, wrote in reaction to Edmund Burke, who condemned the French Revolution. He said Burke loved the feathers but forgot that the bird was dying. Our leaders have lusted after NDDC money, but forget that the body is dying for failing to fulfil its promise. That was what came to mind when the Federal Government set up a panel under Oronsaye to look into the troubles of the commission. I say it is high time for such a body. I also say that I hope it is not headed towards, one, a witch-hunt; or two, a mere waste of time and resources that would leave the commission how it met it. Either destiny is fatal. Which means that the way it is presently run and constituted will not heal the sick, shelter the poor, enlighten the simple, feed the hungry and bring pride to the people of the region. The basic contradiction of the NDDC is that it was set up to save the region from the military-political elite, but it is suffocating under the same people. If this very oddity is not addressed, then the panel is a waste of national resources. Nothing demonstrates this more than the battle between the management under Chibuzor Ugwoha and the board under retired Air Vice Marshal Larry Koinyan. Ugwoha is a technocrat from corporate Nigeria, while Koinyan grew out of the gene of military-political aberration of our history. The clash between them is a replay of the historic clash, between those who believe in institution and individual. Sometimes, the boundaries are not so tight, and innocence is

SAM OMATSEYE

IN TOUCH

samo@thenationonlineng.net 08054501081(sms only) •Winner, Informed Commentary 2009 (D.A.M.E) •Columnist of the Year 2009 (NMMA)

Cash and Cow at NDDC

•Ugwoha

hard to establish. But arbiters of the law can unwind the riddle. Right from day one, the NDDC has frustrated its technocrat CEOs. The reason is that the board members are politicians who see it as their stepping stone to power. Most of them want to be governors. So Omene, the first managing director who came from Shell, suffered under his board. The boards often are politicians who want to develop themselves rather than the region. Look at the list of some of the helmsmen of the place, Onyema Ugochukwu, Emmanuel Agwariavwodo, Sam Edem et al. They all were embroiled in gubernatorial politics. Ugochukwu in

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Abia, Agwariavwodo in Delta, Edem of the “juju” fame” in Akwa Ibom. In some cases where politicians made it to the management, it has been troubling. Pastor PZ Aganighan also has been eyeing the job of Delta governor. Timi Alaibe expressed interest in Bayelsa’s top job. If politicians are on the board and sometimes find themselves in management, how will the cash not be more important than the cow? That has been the cry of Ugwoha: The board wants to run the place as though they are the management. The Public Procurement Act of 2007 is regarded as the extant law in sync with civil service regulations. The board under Koinyan wants the old rules within the books and not the wider law of the country. On the transfer of accounts, it was argued that it needed board resolution. The NDDC MD says he transferred it from a failing bank, namely the Union Bank, to a virile First Bank, and it is not a personal account, and it is not interest-yielding. The panel should investigate that. If Ugwoha is right, he gets a thumbs up. If not, then his integrity is impugned. The issue of board resolution is thorny. It is the accountant-general’s approval that is required in all MDAs in the country, why would the NDDC be an exception?. The panel ought to clarify this. Huge contracts have to pass either through the tenders’ board and the BPE. We want clarifications too. The panel ought to look at how the board members were appointed. The charge is commonplace that the board members spent less time discussing the challenges of the regions. Rather they concentrated on their welfare and continually followed the NDDC money. Is Ugwoha’s unwillingness

HARDBALL

HEN the Major Hamza alMustapha soap opera opened August 1, it was all a jaded country beset by the Boko Haram menace needed to spice things up a little. And what spice it was! If there was no other public opera for the remainder of the year, the country would still have got its money’s worth of entertainment, especially because the price was the regular, normal taxes we all pay as citizens. The al- Mustapha opera may have petered out temporarily into fatuity, but the army major’s biliousness is still potent enough to release occasional bombshells to arrest everyone’s attention and provide quality entertainment. Only al-Mustapha and his lawyers know exactly where they are heading with his trial, whether the defendant truly wants a conclusion or whether he will stall the case along the line. But one way or the other, the case will come to an end, perhaps with as much excitement and drama as it opened and has been sustained. It will be recalled that he opened his August 1 case with crushing revelations of the goings-on in the closing weeks of the Gen Sani Abacha State House, the red herrings he strewed along the path with circumstantial allegations against Yoruba leaders over

to cooperate with the politician-board members at the root of the rumpus? Shall we also look at ethnic rivalry? Some have charged that it is actually an ethnic war in favour of a particular group that is increasingly seeing itself as synonymous with Niger Delta. They want Ugwoha removed to replace him with an Ijaw man or someone pliant to an Ijaw clique. Niger Delta is about the Ijaw, it is also about the Urhobo, the Ikwere, the Itsekiri, the Ogoni, Adoni, etc. President Jonathan should note this subterranean agony seething in Niger Delta. The panel should also look at the possibility of forbidding politicians from playing any roles in the board and management of the NDDC. It is an emergency body, not a place to enrich idle politicians or jobbers. The Niger Delta elite have been accused of not working but fattening themselves. They are libertines of indolence. The village elite who takes money from the oil firms but spend it on cars, women and liquor instead of on behalf of the communities. The political elite cavort in mansions, wining and womanising. The military has cohabited with them. If the NDDC is an emergency body, what is this tribe of men doing as board members? They are the aristocrats of the NDDC. They believe the Niger Delta money belongs to them. They have no talents, not vision, no moral standing, no wisdom. They are artificial aristocrats. What we want are what philosophers call natural aristocrats, as Thomas Jefferson described them in his letter to his counterfoil, the great John Adams. “…there is a natural aristocracy among men,” he wrote, “the grounds of this are virtue and talents.” Edmund Burke, the father of modern conservatism, was the first to use the phrase “natural aristocracy.” But the idea comes down from Plato who believes that the cupbearers of change and progress should be good and wise men. And they should lead other mortals. We don’t have virtue or talent on the board. A man like Koinyan whose last outing was as DFRRI boss in the IBB years makes me wonder who appointed him to the board. DFRRI was meant to do the same kind of job NDDC is expected to do. But DFFRI was a signpost of colossal failure and incompetence under Koinyan. Hardly any project materialised. As my friend Louis Odion wrote at his appointment, the projects are relics either overgrown with weeds or are rumps that benefit no mortal. Oronsaye has a big task ahead. The cow should not be allowed to bleed to death.

•Hardball is not the opinion of the columnist featured above

Two soap operas for the price of one the death of Chief MKO Abiola, and the desperate effort he made to draw Gen Abdulsalami Abubakar’s government into the trial. Every time he made those occasional forays into distractions, he accompanied it with smashing revelations that delighted the media and provoked approbation from the reading and viewing public. But while al-Mustapha is still regaling the public with his stories of the power play and intrigues in Abuja, another opera, equally riveting and again full of distractions, opened at the Nigerian Senate. The upper legislative house conducted an inquiry into the privatisation process since 1999. The ad hoc panel may have rounded up its probe, but the shocking revelations that came from it are bound to reverberate for many more months. Mallam Nasir elRufai, the sanctimonious former boss of the Bureau of Public Enterprises (BPE), was accused by a former director under him of asking for bribe and then rejecting it for being small. He charged back that he didn’t ask for bribe and even got the so-called emissary dismissed. Chief Obasanjo was

accused of behaving less than presidential in his struggles with his former vice president, Alhaji Atiku Abubakar, and thus jeopardising national economic interest. Some people have asked for the former president to be invited or probed. Much more than anything else, the revelations from the al-Mustapha trial and the Senate probe show how poorly Nigeria has been governed over the past few decades. Some of the people mentioned in the trial or questioned in the probe may eventually get away scot free. But it does not render irrelevant the observation that most of the people who found themselves or are purportedly elected into office are simply unqualified. And that includes alMustapha himself, the generals he accused of complicity, Obasanjo, el-Rufai and a host of others. If any researcher wants an explanation for Nigeria’s arrested development, he has enough materials from the ongoing al-Mustapha trial and the Senate probe which is likely to end like the illfated “power probe” that suffered an anticlimactic denouement in 2008.

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