Wednesday 20th April 2016

Foreign Airlines Accused of Using Forex Scarcity to Rip off Nigerians, FG NCAA wades into complaint against BA by senator British carriers deny allegation, say it's impossible Iberia to pull out of Nigeria, citing difficult times Chinedu Eze Foreign airlines operating in Nigeria have been accused of devising a means of ripping off Nigerians and the federal government by

taking advantage of the shortage of dollars in the foreign exchange market, and the gap between the official exchange rate and the parallel market rate, THISDAY investigations

have revealed.

According to sources in the industry and the Nigerian Civil Aviation Authority (NCAA), the airlines procure their foreign exchange from ticket sales at the official rate

of 199/$1 from the Central Bank of Nigeria (CBN) for onward repatriation to their home countries, but allegedly use the parallel market rate of over N300 to the dollar when Nigerians and other

passengers opt to pay for their dollar-priced tickets in naira instead of using the official exchange rate.

In the process, the foreign airlines are making a kill from the 40 per cent spread

between the official and parallel forex markets, and repatriating the cream off the top of ticket sales to their countries.

Continued on page 8

Wednesday 20 April, 2016 Vol 21. No 7664. Price: N250

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NJC Recommends Two Judges for Retirement for Misconduct, Age Falsification… Page 11

Saraki’s Defence Team Picks Holes in Witness’ Testimony Falana slams Senate for summoning CCT chairman Saraki will not benefit from amended CCB/CCT Act, upper chamber restates Says it bought 36 SUVs, not 108 Tobi Soniyi and Omololu Ogunmade in Abuja The prosecution witness in the trial of Senate President Bukola Saraki before the Code of Conduct Tribunal (CCT)

sitting in Abuja yesterday admitted that some of the exhibits he tendered before the tribunal were not investigated by him or his team.

Continued on page 8

Finally, Synagogue Church Trustees, Engineers Arraigned for Manslaughter Engineers remanded in Kirikiri Prison Akinwale Akintunde The long awaited arraignment of the trustees of the Synagogue Church of All Nations (SCOAN), the two engineers who constructed the collapsed six-storey guest house belonging to the church and their companies finally

took place yesterday before an Ikeja High Court.

Justice Lateef Lawal-Akapo ordered their arraignment after dismissing separate applications filed by the defendants through their counsel seeking to stay Continued on page 8

Report: Only Eight States Have Database STERLING BANK BRIEFS ITS SHAREHOLDERS Managing Director/CEO, Sterling Bank Plc, Mr. Yemi Adeola, and the bank’s Chairman, Mr. Asue Ighodalo, on Poor and Vulnerable… Page 55 L-R: at the 54th annual general meeting of Sterling Bank in Lagos… yesterday

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WEDNESDAY April 20, 2016 • T H I S D AY

PAGE EIGHT FOREIGN AIRLINES ACCUSED OF USING FOREX SCARCITY TO RIP OFF NIGERIANS, FG In particular, British Airways (BA) and Virgin Atlantic Airways, two major carriers patronised by Nigerians on the Lagos-London route, have been accused of engaging in the sharp practice, which industry sources say accounts for the astronomical and inexplicable hike in their airfares in recent months.

The rise in airfares, sources added, has happened despite falling oil prices and the attendant lower cost of aviation fuel, a major component in the operating costs of all airlines worldwide, which should have been reflected in the airfares charged by the airlines.

But the allegation has been denied by BA and Virgin Atlantic which described the act as illegal and insisted that the payment platform cannot be manipulated.

However, an informed source told THISDAY: “We (foreign and domestic airlines) buy dollars at the CBN rate, and all our airfares are priced in dollars for the purpose of comparison.

“But the problem is that foreign airlines use the parallel market rate to determine the naira airfare for passengers who opt to pay for the tickets in naira.

“By doing this, they are cheating Nigerians and the federal government because by collecting the money from passengers at the parallel market rate, why do they want CBN to give them dollars at the official rate when they need to repatriate

to their countries? They might as well source their dollars from the parallel market.”

Passengers use four options to pay for their international airfares in the country: one, they could book online and pay for their tickets using their dollar denominated credit or debit cards; two, they could make a booking online, get a reference number and take it to a designated Nigerian commercial bank used by the airline to pay for the ticket in dollars; three, they could do the booking online, get the reference number and opt to pay at the bank in naira; and four, they could use a travel agent and pay in naira or dollars.

It is passengers who opt to pay in naira at the bank that are allegedly being ripped off by the airlines.

A case in point, THISDAY learnt, was that of a senator (name withheld) who wrote a letter of complaint to the Consumer Protection Directorate of the NCAA against BA recently, alleging that he had booked a ticket online, but was made to pay for the ticket at the bank at the parallel market rate.

The Director of Consumer Protection Directorate, Mr. Adamu Abdullahi, informed THISDAY that when NCAA got the letter from the senator, he wrote to BA to respond to the allegation.

He said BA’s Regional Manager, West Africa, Mr. Kola

Olayinka, wrote back denying the charge made by the senator.

Excerpts of the BA's letter to NCAA stated: “I can assure the distinguished senator through you sir, that our selling rate in Nigeria is regulated by the Central Bank of Nigeria, and have (sic) been moving between 197-200 in recent months, there is no opportunity to manipulate this as it’s a system generated rate, even if there is, I assure the senator, British Airways will be the last organisation to be involved in such pettiness!

“I hope the senator will be satisfied by these explanations and be reassured that in no way will British Airways as a company, be involved in any act that may even look like ‘fleecing our customers’ nor will we condone any such behaviour by any of our employees.”

THISDAY, however, learnt that Nigerian airlines that fly international routes have so far adhered to the CBN rates in ticket sales to passengers.

To ensure that Nigerian operators abide by the rules, a source disclosed that CBN encourages its officials to patronise Nigerian airlines and has ensured that Nigerian carriers sell their tickets in naira at the official exchange rate.

A source with Arik Air also told THISDAY: “If you look at our premium class ticket fare, we are just about 16 per cent cheaper than the two other airlines that fly on the Lagos-

London route.

“But when you multiply our own dollar fare by CBN rate, it comes to about N650,000 but their own is N1.8 million so they are using the parallel market rate to charge passengers.”

When contacted by THISDAY on the issue, Mr. Olayinka denied the allegation that BA sold its tickets using the parallel market rate, stating that the payment system could not be manipulated.

“It is not possible because we sell through Global Distribution System (GDS) and we all go through the International Air Transport Association (IATA) and in Nigeria all the airlines go through Billings Settlement Plan (BSP), which in turn goes through IATA. “It is illegal and impossible for us to do that. We all know the situation we are going through trying to remit our money. In Nigeria, we give discounts to those who wish to pay in dollars and the discount can be as high as 20 per cent.

“Because we all go through the same platform with other airlines, our selling rate must be the same. It is not possible for us to sell at a different rate. If you go to a BA desk, we sell at the rate that is applicable, which at the moment is N197.50, but this could change so we add N1 or N2.” Olayinka said.

Denying the allegation also, the spokesperson of Virgin Atlantic Airways, Kudirat

Scott-Igbene, said the airline uses the system rate, which is automatically generated and therefore could not be manipulated.

An IATA source also told THISDAY: “There is no way this can happen. It is absolutely not possible. The GDS is attached to the CBN rate. There have been allegations but they have not been substantiated.

The system is electronically operated, so it cannot be manually manipulated.”

Reacting to the allegation, a source with the CBN said the central bank has allowed foreign airlines to access forex from the interbank market since 2012, however, “if they have decided to sell at the parallel market rate, it is the responsibility of the NCAA which has the consumer protection directorate to ensure they do the right thing.”

Meanwhile, Spanish national airline, Iberia, announced yesterday that it was pulling out of Nigeria following protracted passenger drought since late last year.

The airline, which was taken over by BA in 2010 and is part of the One World Alliance with the British airline, said it would wind down operations by May 12, 2016.

In a statement by Olayinka, the airline said: “This is to notify you that our Spanish Airline, Iberia PLC will be suspending services into and out of Nigeria effective 12 May 2016.”

The airline said this was in response to the difficult times and the inability of the airline to record high load factor as it used to as the economic crunch bedevilling the nation has depleted the finances of those who otherwise travel out of the country on business, tourism and for training.

“This is a very tough decision that has been taken by our head office in view of the wide acceptance we have received from our passengers, especially those heading towards Spain and Latin America over the years.

“Iberia’s commitment to Nigeria since we started operations in 2014 has never been in doubt, but over the last few months, we have witnessed dwindling passenger figures to Madrid our main hub and our business has faced very difficult and exceptional circumstances, which has brought about this very difficult decision,” the statement added.

While thanking Nigerians for their steadfastness and support, the airline said to its customers: “You have truly been a partner and I hope you will understand the decision taken by Iberia in these very difficult times.”

There are rising fears that other international carriers similarly affected by the economic contraction in the country might stop their operations or cut their services to Nigeria.

tendered documents he did not investigate, the witness said he did not tender the exhibits on his own but that they were tendered through him by the prosecution.

Also under cross-examination, the witness admitted that investigating the assets declared by the defendant did not form part of his schedule of duty.

He also admitted that Exhibits 3, 4 and 5, being the asset declaration forms of the defendant, were duly examined and stamped by the Code of Conduct Bureau (CCB) and not the EFCC, his employer.

He added that there was no where in the petition he investigated where Saraki’s assets declaration was in contention.

He further added that the investigation of the defendant was based on an intelligence report obtained by the former Chairman of the EFCC, Ibrahim Lamorde, and not the three petitions tendered as exhibits.

Specifically, the witness stated that the six assets declaration forms submitted by Saraki to the CCB were never investigated by his team, adding that his team was directed to investigate the intelligence report alone.

Further hearing continues today.

But as the witness’ testimony was being torn apart yesterday, human rights lawyer and activist, Mr. Femi Falana, slammed the Senate Committee on Ethics for summoning the Chairman of the CCT, Mr. Danladi Umar, to appear before it to testify in respect of a petition alleging corrupt practices against him.

In a lengthy treatise, Falana said: “It is pertinent to point out that the Ethics Committee of the Senate lacks the power to summon the tribunal chairman to testify in respect of a criminal investigation.

More so that the allegation being examined by the Ethics Committee of the Senate is the subject matter of a pending criminal case at the High Court of the Federal Capital Territory sitting in Abuja.

“Following the allegation that the personal assistant of the tribunal chairman allegedly received a bribe from a suspect on behalf of his master, the matter was investigated by the Economic and Financial Crimes Commission.

“At the end of the investigation the tribunal chairman was exonerated while his personal assistant was indicted.

Consequently, the suspect has since been charged to court. Since the case has not been concluded or terminated, it is the height of contempt on the part of the Senate or any of its committees to decide to conduct another trial on the

same subject matter.”

Citing Sections 88(1) and (2) of the constitution, Falana reminded the Senate that the National Assembly is only empowered to conduct an inquiry for the purpose of enabling it to: “(a) make laws with respect to any matter within its legislative competence and correct any defects in existing laws; and (b) expose corruption, inefficiency or waste in the execution or administration of laws within its legislative competence and in disbursement or administration of funds appropriated by it.”

He noted that the enormous investigative powers of the National Assembly are circumscribed, as they are exercisable subject to other provisions of the constitution.

To buttress his point, he cited past judgments by the courts declaring that Section 82 of the constitution is not designed to enable the legislature to usurp the general investigative functions of the executive nor the adjudication functions of the judiciary.

SARAKI'S DEFENCE TEAM PICKS HOLES IN WITNESS’ TESTIMONY The witness, Michael Wetkas, who is an investigator with the Economic and Financial Crimes Commission (EFCC), while being cross-examined by the defence counsel, Mr. Kanu Agabi (SAN), admitted that he did not investigate the petitions listed as Exhibits 11, 12 and 13 which formed the basis for prosecuting Saraki.

The defence had presented the exhibits to him and consequently questioned him about them.

Wetkas said that the petitions pertaining to the three exhibits were not investigated by him.

Exhibit 11, which was dated May 22, 2012, contained a petition written by the Kwara Freedom Network inviting the EFCC

to investigate the Kwara State Universal Basic Education Board.

The witness had while giving evidence in chief, told the tribunal that the petition by the Kwara Freedom Network triggered the investigation.

He however turned around during cross-examination to say that his team did not investigate the petition.

Exhibit 12, which was dated May 7, 2011, was addressed to the Chairman of the EFCC asking the anti-graft agency to investigate the Kwara State Government on borrowings for projects described as phoney.

Exhibit 13 was a petition dated June 7, 2012, which dwelt on

the mismanagement of local government revenue in Kwara State between 2003 and 2011.

When asked whether in the course of investigation, he had sought audience to speak with the Accountant General of Kwara State, the witness said he did not as that was not part of his assignment.

Also asked whether he invited any official of the Kwara State Government in the course of the investigation, the witness also said he did not.

Asked whether he got another written document to buttress the petition written by the Kwara Freedom Network, the witness said he did not.

When further asked why he

FINALLY, SYNAGOGUE CHURCH TRUSTEES, ENGINEERS ARRAIGNED FOR MANSLAUGHTER proceedings of the High Court pending their appeal at the Court of Appeal.

The judge also remanded the two engineers, Oladele Ogundeji and Akinbela Fatiregun, in Kirikiri Maximum Prison.

The Lagos State Government had, late last year, slammed a 111-count criminal charge against the trustees of the church, the two engineers, and their companies – Hardrock Construction and Engineering Company and Jandy Trust Limited – for their involvement in the September 12, 2014 collapse of a six-storey guest house belonging to the church, which led to the death of 116 persons.

But the defendants had deployed several tactics to stall their arraignment by filing various pre-trial applications.

The 111-count charge brought against the defendants borders on criminal negligence, manslaughter and failure to obtain a building permit.

Justice Lawal-Akapo in his ruling said: “Section 273 of the

Administration of Criminal Justice Act (ACJA) states that subject to the constitution, an application for a stay of proceedings in respect of a criminal matter before the High Court should not be entertained before the court.

“I find no merit in the two applications, they are lacking in merit and substance. This is a clear case of abuse of court processes to the irritation and annoyance of the court.”

Immediately after Justice Lawal-Akapo’s ruling, the lead counsel representing the defendants made several attempts to convince the court not to proceed with the arraignment.

While Chief Lateef Fagbemi (SAN), representing SCOAN, argued that it would be improper to proceed with the arraignment since the day’s business of the court was for ruling, Chief Efe Akpofure (SAN), representing Hardrock Construction Company, said he had just lost his mother and would not be able to proceed.

The judge however overruled them and ordered that the

charges be read to the accused persons.

The case was adjourned to April 26 for hearing of the defendants’ bail applications.

The defendants had in their applications dated February 17 and March 3 prayed for an order adjourning further hearing pending the determination of their application before the Court of Appeal.

Mrs. Titi Akinlawon (SAN), counsel to Fatiregun, had argued that “the essence of the application for adjournment is that the High Court ruled that the hearing notices served on the fifth defendant were proper, a ruling we are appealing at the higher court.

“We also have before the court an application for stay of proceedings to await the decision of the Court of Appeal.

On this strength, I appeal that an adjournment be granted by this court”.

Counsel to Ogundeji and Jandy Trust, Akpofure, had objected to the inclusion of Jandy Trust as

one of the defendants.

Akpofure argued that there was no evidence against the second defendant (Jandy Trust Limited) and it was never mentioned by the witnesses for the state.

“There is nowhere it was stated that the second defendant was awarded the building contract.

“The argument of the state that the trial of the second defendant to go on holds no water.

“I urge your lordship to quash this information relating to the second defendant as there was no mention of my client in the proof of evidence,” he submitted.

Counsel to the trustees of SCOAN, Fagbemi, agreed with the submission by Akpofure that Jandy Trust Limited should be excluded from the charge.

But Mrs. Idowu Alakija, the Director of Public Prosecutions (DPP) in Lagos State, objected to their applications for adjournment, adding that Section 273 of the ACJA should guide the proceedings of the court.

Continued on page 10

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PAGE TEN

Boko Haram Ambushes Army Commander, Kills One Soldier Senator Iroegbu The convoy of the acting General Officer Commanding (GOC), 7 Division, Nigerian Army, Brigadier General Victor Ezugwu, was ambushed yesterday morning by suspected Boko Haram terrorists when he was en route to visit troops in Bama, Borno State.

A statement by the spokesman of the Nigerian Army, Col. Sani Usman, said

the ambush resulted in the death of one soldier and two others who sustained injuries from the attack.

However, the army convoy was according to the spokesman, able to clear the ambush, killing some of the terrorists and recovering a vehicle and weapons from them. The recovered items included a Toyota Hilux vehicle, two AK-47 rifles and several rounds of ammunition.

According to Usman, the acting GOC continued his operational visit to Bama, while the body of the late soldier and others wounded were evacuated to Maiduguri, the Borno State capital.

The Chief of Army Staff, Lieutenant General Tukur Yusuf Buratai, has also spoken with the GOC after the attack, the statement added.

The Nigerian Army reiterated its unalloyed commitment and

determination to continue to clear the remnants of the Boko Haram terrorist wherever they might still be hiding.

The attack on the GOC's convoy occurred barely 24 hours after the terror group engaged the military in a fierce battle that lasted for several hours in their daring attempt to capture the 113 Battalion at Kareto close to the border with Niger Republic.

Usman also confirmed that two officers and 22 soldiers were wounded in the battle with Boko Haram terrorists in Kareto on Monday.

He said the wounded soldiers were being treated at the Military Hospital in Maiduguri.

The army spokesman said the attack was repelled due to the timely response of the troops and the involvement of air cover as more reinforcement was deployed.

Buratai

Nigerians Hope It Will Get Better, But Will It? E go beta. This Nigerian phrase, meaning “it will get better”, equates to a survival strategy in a country where life for the majority can prove back-breakingly hard. Several songs produced

by Nigerian musicians in the past decade evoke the saying. Some connect it to the tribulations of daily life in a country bursting with resources but broken by the powerful who have squandered or stolen them.

In his 2010 version, rapper eLDee describes the frustration with the government’s failure to provide basics: water, electricity, education and fuel.

“It’s been about 50 years of this struggle, been a long time we been on this hustle,” he croons by candlelight in the video. “This kind system, e no sustainable, it is not

sustainable.”

The effect of the crude oil price crash proves the wisdom of a statement that was easier to ignore when oil was above $100 a barrel.

Then, at least some Nigerians — many of them elected officials — grew rich, leading the masses to hang on to the belief that their country is a land of opportunity where “e go beta”. With oil at about $40 a barrel, the feeling that the party is over is palpable.

It was never much of a party for ordinary Nigerians who, as eLDee sings, sat on the sidelines and in slums, some dying of preventable diseases or in childbirth as politicians lined their pockets.

Two years after almost 300 schoolgirls were kidnapped in the North-east of the country

by Boko Haram militants, most are still missing —

though a video released by the Islamist group last week appears to show that 15 are alive. Parents marched in Abuja to demand greater action to find their daughters.

The possibility of upward mobility was easier to believe when gross domestic product growth was near 7 per cent; it is expected to slow to 2.3 per cent this year, according to the International Monetary Fund (IMF).

An assistant at a clothing store in a Lagos mall says the “e go beta” attitude means Nigerians “keep striving — but at the end nothing is done because everyone just keeps forging ahead instead of speaking up and demanding the government delivers”.

“We are putting up with too much here,” she says.

Another mall worker says

the ability of the population to cope “allows the government to cheat us”, leaving citizens fending for themselves.

President Muhammadu Buhari beat incumbent Goodluck Jonathan in elections a year ago by arguing that the system was not sustainable. He promised change — particularly in improving security and fighting corruption — and he never said it would come easily.

But the pain feels particularly acute these days. Food and fuel prices have shot up. Last week, minibus drivers in Lagos doubled their fares because of fuel shortages — in Africa’s leading oil exporter — caused by a scarcity of dollars. Soaring inflation and a dramatic slowdown in business activity have

led to accusations that the president has been slow to share his plans to fix the ailing economy — and that on some points he is plain wrong. His view that further devaluation would amount to having the naira “killed” is criticised for being out of touch with reality, as businesses are forced to buy dollars on the black market at a rate about 40 per cent higher than the official one.

The effect is felt across board. A young actress I meet in a grocery store in the upper-middle-class Lagos neighbourhood of Lekki says she has been paid only half of of what she was promised for a week of filming on a Nollywood movie because production costs were driven up by the price of black-market fuel.

The director told the cast to

“bear with him”.

“Our belief that we’ll ride through any challenges and come out of it is typically Nigerian, but we just don’t know where things are headed,” says another shopper, who is cutting her grocery bills to pay school fees. “All signs suggest this will last because oil prices are down and the leadership is not dealing with economic issues.”

Many, however, are still willing to give Mr. Buhari the benefit of the doubt. “There’s a segment that still feels the current administration is trying to fix the mess of the past,” says Wale Olusi, an analyst at Afrinvest, an investment banking firm in Lagos.

Besides, he adds: “Nigerians are resilient.”

• Culled from FT

“This is bringing the law in compliance with the judicial principle of audi alterem partem (hear from both sides in a case before taking a decision). The proposed deletion of Paragraph 17 in the Third Schedule of the law is to ensure that the court does not assume a procedure for which the drafters of the law and the lawmakers did not intend.

“The Penal and Criminal Codes mentioned in the paragraph are no longer relevant. The CCT was not created to be a court with criminal jurisdiction and that is why the law provides for the defendant to be referred to another court if criminal issues emanate from any matter.”

Abdullahi further explained that the Senate considered this amendment necessary so as to “cure the inconsistencies and mischief arising from the operation and interpretations of the present law”.

“Unfortunately, this ordinary act of legislation has been caught in a conspiracy theory beyond the wildest imagination of lawmakers,” he said.

The Senate also debunked media reports that it bought 108 Toyota Land Cruiser sports utility vehicles (SUVs) for each senator excluding the Senate president, saying it bought only 36 cars that were handed to one senator from each of the states of the federation.

The Chairman of the Senate Services Committee, Senator Ibrahim Gobir said yesterday that misinformation by such reports had made the clarification imperative.

According to him, the Senate cannot afford to buy 108 cars at this time because it does not have the funds, adding that the money spent to buy the 36 cars had already been appropriated in the 2015 budget.

Furthermore, Gobir disclosed that the cars were purchased at the cost of N36.5 million each, including tax. But the figures provided by the senator did not add up as the cost of each of the SUVs. He said the decision to give a car to one senator from each state was a collective decision of the Senate during a closed-door session. He also said no loan was secured to buy the cars.

“A lot has been happening within the last two days concerning the issue of cars vis-à-vis our car loans and cost of the cars, and we feel it is necessary to come out and inform the public about the true state of affairs.

“First, I would like to say that the issue that we bought 108 cars is totally wrong, it is not correct. We bought 36 cars. Thirty-six cars because each state has a senator that is either a committee chairman or vice-chairman and we gave one car to each state to share among themselves as utility cars.

We don’t have money to buy 108 cars.

“On the issue of buying cars without appropriation, that is totally wrong because this was appropriated in the 2015 budget.

So we used what we had in the 2015 budget to buy the 36 cars so that they can go round

to each state.

“Then the issue of the cost of the car: the showroom price of each car was N36.5 million and we were surprised. The cars we bought were the (Toyota) Land Cruiser VXR V8 not V6, therefore the showroom price was about N31 million at the least, and then when you add the 10 per cent tax, it comes to N36.5 million.

“In fact, you can go to the internet and download the price.

It is very simple, we can give you the website, we have several items we downloaded from the internet and you can see them.

“This particular car cost about $90,000 and by the time you multiply that by the exchange rate, you will get about N28.8 million. But when you add tax, you will end up with about N37 million.

“So I think that the price at which we purchased each of the cars was very reasonable. We were supposed to buy 109 cars but because of the paucity of funds, because of our sensitivity and concern for lack of funds, we bought only 36 to go round per state,” he said.

Defending the purchase, he said federal ministers, House of Representatives members, and other senior public sector officers have access to three or four official cars including Toyota Land Cruiser, a backup car and two Hilux cars.

He also refuted reports that senators had been paid car loans.

“Hear it from me, we did not take car loans… No senator was given a car loan,” he said.

SARAKI'S DEFENCE TEAM PICKS HOLES IN WITNESS’ TESTIMONY Quoting the ruling in the case, Senate of the National Assembly v.

Momoh, the presiding judge ruled: “They can only invite members of the public when they want to gather facts for the purpose of enabling them make laws or amend existing laws in respect of any matter within their legislative competence or as witnesses in a properly constituted inquiry under section 82(1)(b).”

Also in Akomolafe v. The Speaker of Ondo State House of Assembly, the late acting Chief Judge of the state, Justice Ogundare, held: “Neither the Speaker nor the House is empowered by the constitution and statute law to deal with the issue assigned to the panel. The investigation of crimes is for the police and the trial of criminal offences is for the courts. The Speaker on receipt of Mr. Aladeselu’s letter ought to have referred it to the police for necessary action.”

In the light of the foregoing, Falana advised the Ethics Committee of the Senate to withdraw its illegal summons.

“Instead of exposing the Nigerian people to further undeserved embarrassment over the Saraki case, the Senate is enjoined to enhance the fight against corruption by passing the Whistle Blowers Bill, the Proceeds of Crime Bill and the Witness Protection Bill which were passed by the Seventh National Assembly but were not signed into law by former President Goodluck Jonathan.

“For the Nigerian people to take the war against corruption seriously the members of the

legislative and executive arms of government ought to be prepared to demonstrate leadership by example.

“In a country where the majority of the states are owing arrears of salaries, the legislators should be prepared to make sacrifice by reducing their fat salaries and jumbo allowances,” he added.

The committee’s summons of the CCT chairman on Monday has been linked to his ruling on the same day that Saraki’s trial would be conducted daily until it is concluded, pursuant to the provisions of the Administration of Criminal Justice Act (ACJA).

Meanwhile, the Senate yesterday restated that Saraki would not benefit from the amendment of the CCB and CCT Act, just as it said that there was no way it would also affect the ongoing trial of Saraki at the tribunal.

A statement by the Chairman of the Committee on Media and Public Affairs, Senator Aliyu Sabi Abdullahi, said the Senate noted that many of the comments on the proposed amendments were made by those who had neither read the bill nor understood the principles behind it.

Abdullahi said since the Saraki case commenced in 2015, any amendment of the law in 2016 cannot retroactively affect an ongoing case, adding that the proposed amendment would take a minimum of six months to come into effect, given the long process of law making.

According to him, the process includes the committee hearing; public hearing; the presentation of a report to Senate committee

of the whole; the concurrence in the House of Representatives; and assent by the president as the final stage.

“There is no way we will even complete the process of finally effecting the amendments before the completion of the Saraki case. So those who read selfish or ulterior motives to this ordinary legislative activity are either mischievous or ignorant of legislative procedures,” he said.

Abdullahi explained that the sole aim of the amendment was to give effect to the right to fair hearing as enshrined in Section 36 of the constitution and the recent pronouncements of the Supreme Court.

Providing clarifications on the specific amendments to the Act, he said: “The amendment only affects Section 3 and Paragraph 17 of the Third Schedule of the current law. The sub-sections in Section 3 were re-arranged in such a way that they would reflect elegance in legal drafting. “Also, the proviso in Sub-section 3(d) was removed since it has also been removed in the constitution.

“To give fair hearing to the defendants in cases involving the bureau, Sub-sections 3(c) was enlarged to ensure that the person concerned was invited to state his own case, after which the CCB can still refer the matter to the tribunal for trial.

“This eliminates the constant complaint that a defendant was not given the opportunity to make an explanation on the inconsistencies alleged to have been found in his asset declaration form.

WEDNESDAY APRIL 20, 2016 • T H I S D AY

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NEWS

News Editor Davidson Iriekpen Email davidson.iriekpen@thisdaylive.com, 08111813081

NJC Recommends Two Judges for Retirement for Misconduct, Age Falsification

Tobi Soniyi inAbuja

The National Judicial Council (NJC) has recommended two judges for compulsory retirement with immediate effect.

Pending the time the Lagos State governor acts on the recommendation, the council has in the interim and in exercise of its power under Paragraph 21(d) of the Third Schedule of the 1999 Constitution, suspended them from office with immediate effect.

A statement issued by the council’s acting Director of Information, Mr. Soji Oye, gave the names of the judges as Justice O. Gbaja-Biamila of the Lagos State High Court and Justice Idris M. J. Evuti of the Niger State High Court.

While Gbaja-Biamila was recommended for retirement for

refusing to deliver judgment within the time allowed by the constitution, Justice Evuti was compulsorily retired for falsifying his age.

Oye said the council took the decision at its meeting on April 13 and 14, 2016.

The statement said: “GbajaBiamila was recommended to the governor of Lagos State for compulsory retirement from office pursuant to the findings by the council on the allegations contained in the petitions written against him by Mr. C. A. Candide Johnson (SAN).

“The allegations are: that the judge delivered judgment in Suit No ID\1279\2007 P. K. Ojo Vs SDV & SCOA Nigeria Plc twenty months after written addresses were adopted by all the counsel and 35 months after the close of evidence in the

Emefiele: China to Start Importing from Nigeria The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has said the federal government is “talking with China” in order to be “importing some of its own items from Nigeria.”

According to Emefiele, this will help reduce the gulf in trading between the two countries.

Speaking at a press conference at the World Bank headquarters in Washington DC, on the last day of the 2016 World Bank/IMF spring meeting, he also said part of Nigeria’s deal with China is that Nigeria would become the Asian country’s trading hub in West Africa.

“China has appointed South Africa as its trading hub for Remnibi transactions in the Southern African region, has appointed Kenya as its trading hub for East and Central Africa.

“And Nigeria, the mandate that we signed is for us to be appointed as the trading hub in the West African sub region. In all, we expect that it is going to be mutually beneficial.

“We are talking to China so that it would also be importing some of its own items from Nigeria, so that the trading balance can be sort of reduced.

“Will Nigeria benefit from this? I want to say categorically that Nigeria will from this. It’s

less pressure on the dollar and consequently on our reserves, he said.”

Emefiele, according to The Cable, added that the CBN could not continue with indeterminate adjustment (devaluation) of the currency, without taking necessary structural reforms.

“For the first time, we are taking structural reforms seriously in the country. We’ve always talked about, oh, when you do an adjustment, follow it up with structural reforms.

“But we are saying this time, we’ve done an adjustment and we are following it up with structural reform, to diversify the economy from depending on oil.

“I’ve said it that we have seen people who are coming in to invest.

During the china trip, we saw people who said they can now come in instead of exporting those items into Nigeria, they can now bring those plants into Nigeria and begin to produce those things in Nigeria because our climate is good.

“I repeat, what is the raw material for fertilizer? It is gas. We have it in large quantity; when you bring in the plant, you don’t need to import any raw material again.

We are seeing the light at the end of the tunnel; we just want people to show understanding,” the CBN governor said.

suit, contrary to the constitutional provisions that judgments should be delivered within a period of 90 days; “That His Lordship did not publish a copy of the judgment he delivered on December 24, 2013 until after 40 days, contrary to the provision of the constitution which require that a copy of the judgment of a Superior Court of Record be given to parties in the case within seven days of delivery.

“That the judge continued to hear the suit in his court after he had been notified of the pendency of a motion for a stay of execution at the Court of Appeal and that an appeal had been entered.

“Prior to the issuance of the first writ of attachment, the court registrar under the direct administration of the judge falsely misrepresented to the deputy sheriff in a memo dated November 28th ,2014, that there was no appeal or motion in the case file as at November 28, 2014.

“Meanwhile, there were two notices of appeal and two summons to settle records in the court’s file.

“That the judge gave an order on February 23, 2015 upon an ex-parte application substituting the name

of SDV Nigeria Ltd with Bollore Logistics Nigeria Ltd without serving the order of substitution on the affected party or its legal representatives.

“That the judge failed to maintain the professional competence required to preserve the integrity of the judiciary.”

NJC said the above allegations constituted misconduct contrary to Section 292 (1)(b) of the constitution and Rules 1.3, 3.3, 3.4 and 3.7 of the 2016 Revised Code of Conduct for Judicial Officers of the Federal Republic of Nigeria.

The council said it also considered a petition written by Mohammed Idris Eggun against Justices Idris M. J. Evuti and Tanko Yusuf Usman of the High Court of Niger State on falsification of their dates of birth.

The petitioner had alleged that Justice Idris M. J. Evuti falsified his age from September 15th, 1950 to April 10th, 1953 and Justice Tanko Yusuf Usman falsified his age from June 27th, 1950 to June 27th, 1951.

A fact finding committee set up by the council found from the records made available to it

that the Justice Evuti used three different dates of birth over the years as September 15, 1950, April 10, 1953 and April 1, 1953 and therefore recommended his compulsory retirement with immediate effect.

Apart from recommending him for compulsory retirement, the council recommended to the government of Niger State to deduct all salaries received by Justice Evuti from September 2015 till date from his gratuity and remit same to the NJC that pays salaries of all judicial officers in the federation.

The statement further said: “With respect to the Justice Tanko Yusuf Usman, council did not recommend his compulsory retirement because it had already accepted his retirement with effect from March 1, 2016.

“However, council decided to write to the government of Niger State, to deduct from the gratuity the salaries received by him from June 2015 when His Lordship should have retired from the Bench.”

NJC said it exonerated Justice Saliu Saidu of the Federal High Court, Lagos of misconduct as it found unsubstantiated a petition of alleged misconduct written against him by the Securities and Exchange

Commission (SEC).

The judge was alleged to have been biased in granting ex-parte orders of injunction against the commission in Suit No FNC\L\CS\767\15: BGL Ltd and Ors V. Securities and Exchange Commission without due regard to the relevant factors and circumstances of the case.

However, SEC’s counsel, Oluwaseun Olusiyi, was also reported to the Legal Practitioners Disciplinary Committee for walking out on the judge on the matter when she was told the matter was not ripe for hearing for disciplinary action.

NJC said in the last two years, it had been repositioned and introduced reforms pursuant to the provisions of Section 160 of the constitution.

It listed some of the reforms as the introduction of the Revised National Judicial Council Guidelines and Procedural Rules for Appointment of Judicial Officers of all Superior Courts of Record in Nigeria; Judicial Discipline Regulations; Code of Conduct for Judicial Officers of the Federal Republic of Nigeria; and the National Judicial Policy.

PUTTING HEADSTOGETHER FOR SHAREHOLDERS

L-R: Chairman, Dangote Cement Plc, Aliko Dangote ; Group Managing Director/CEO, Onne van derWeijde; and Executive Director, DevakumarV.G. Edwin, stressingapointattheseventhannualgeneralmeeting (AGM)ofDangoteCement inLagos...yesterday.SundayAdigun

FG Considers Deducting Unremitted Taxes by States 705,352 Apply for 10,000 Police from Monthly Allocations Jobs

The Police Service Commission (PSC) has said it received 705,352 applications as at 7.30 a.m yesterday, April 19, from people seeking enlistment into the Nigeria Police Force.

This was contained in a statement issued in Abuja by Ikechukwu Ani, Head, Press and Public Relations of the commission.

It stated that 202, 427 applications were for the position of Cadet Assistant Superintendent of Police (ASP), 169,446, for the position of Cadet Inspector and 333,479 for the position of Constables.

The statement, according to the News Agency of Nigeria (NAN), said

N700bn collected as tax in 2016

the commission would recruit 500 Cadet ASPs, 500 Cadet Inspectors, 1,500 Specialist Officers and 7, 500 Constables to meet the approved 10,000 new entrants into the Force.

In the statement, the Chairman of the commission, Mike Okiro, confirmed that the process of receiving the forms had been smooth and transparent.

Okiro assured of the commission’s commitment at making the process transparent and the exercise a huge success.

President Muhammadu Buhari had approved the recruitment of 10,000 policemen into the nation’s Police Force to reinforce the police for better service.

Damilola Oyedele in Abuja

The federal government is considering the option of deducting taxes unremitted to the Federal Inland Revenue Service (FIRS) by states from their monthly federal allocations.

Twenty per cent of Value Added Tax (VAT) and withholding tax collected by states on behalf of the FIRS, remain unremitted to the revenue collector.

The Chairman of the FIRS, Mr. Babatunde Fowler, said these when he appeared before the House of Representatives

ad hoc committee investigating the accounting procedure of the FIRS yesterday, when he added that over 100,000 companies operating in Nigeria have never paid any tax.

Fowler also disclosed that N700 billion has been collected as taxes so far in 2016, out of the targeted N2 trillion, with 363,000 tax payers captured since the beginning of this year.

The committee chaired by Hon. Michael Enyong Okon, heard that starting from May 2, 2016, all Ministries, Departments and Agencies (MDAs) are to remit VAT and WHT deducted from contract payments into the

Consolidated Revenue Fund (CRF).

The FIRS boss presented to the committee a list of companies in various sectors of the economy, which are highly indebted in taxes, for further legislative action.

He however disclosed that some of the tax defaulters are already in talks with the FIRS to work out repayment plans for the outstanding taxes.

Fowler also noted that there are ongoing plans for the recruitment of 1,250 staff and 1,000 auditors for enforcement of tax policy and audit compliance in the country.

The committee members directed the FIRS to provide the approval of the Federal Executive Council (FEC) for certain waivers to construction companies, and the list of the beneficiaries.

The committee also urged Fowler to push for amendment of knotty sections of the FIRS Act, as well as the measures that would assist its work.

The Chairman of the ad hoc Committee, Okon, disclosed that the Minister of Finance, Mrs. Kemi Adeosun, would be invited to appear next week for disregard of some sections of the FIRS Act.

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WEDNESDAY APRIL 20, 2016 • T H I S D AY

NEWS

‘Shiite is a Threat to Security, Sovereignty of Nigeria’ Says Iran is Nigeria’s number one enemy John Shiklam in Kaduna A former Vice-Chancellor of the Ahmadu Bello University (ABU), Zaria, Prof. Abdullahi Mahdi, alleged that the Islamic Movement in Nigeria (IMN) otherwise known as Shiite, poses serious threat to the security and sovereignty of Nigeria.

He also declared that Iran, which

according to him, is the sponsor of Shiite, is the “Nigeria’s number one enemy.”

Testifying before the judicial commission of inquiry investigating the December 12-14, 2015 clashes between the movement and the Nigerian army in Zaria, maintained that the IMN thrives on violence, saying that the group operates a

state within a state.

Giving insight into history of the movement, Mahdi said Shiism was introduced in Nigeria by a Pakistani called Islamul-Haq who was a lecturer in the Department of Economics at ABU Zaria from the mid 1970s and 1980s.

“As a matter of fact, he tried to induct me into Shiism but I

Court Rejects FG’s Application to Shield Witnesses in Dasuki’s Trial Tobi Soniyi in Abuja A Federal High Court sitting in Abuja has rejected the application by the federal government to partially try former National Security Adviser, Colonel Muhammad Sambo Dasuki (rtd), in secret.

However, the court also refused to discharge Dasuki over recent refusal of government to allow him enjoy the bail granted him by the courts.

The court said he should have initiated contempt against government.

Dasuki was charged with unlawful possession of firearm and money laundering in September 2015.

The court said there was no point for the witnesses to be called to testify in the case against Dasuki to wear masks and bear pseudo names and addresses so as to facilitate their protection.

Delivering ruling in an application for secret trial of former NSA, Justice Adeniyi Ademola held that the federal government had in the charge against Dasuki listed the names and addresses of 11 witnesses to be called to testify against him and made same available to the public and as such there was no basis for any hide and seek game in Dasuki’s trial.

Justice Ademola in the ruling that lasted over one hour, rejected the plea by government that Dasuki’s trial be held in privacy and that only lawyers and accredited journalists be allowed during the trial.

The judge said there was no basis

to grant the request of government to make the witnesses wear special mask, bear pseudo names and addresses because the charges were not terrorism charges and that there was no information that the life of any of the witnesses billed to be called was being threatened by anybody or group.

The court held that although it has the discretion to look into such issues of protection of witnesses in a criminal matter but that such discretion must be judicially and judiciously used only in cases where threat to life had been established by the prosecution.

In the instance case, Justice Ademola said government failed to establish any fact that life of its witnesses was being threatened and as such no court of law would accede to such requests without established reason.

The judge had earlier ordered the federal government and its agents the Department of States Security Service (DSS) to henceforth allow Dasuki have access to his lawyers and family members in the interest of justice and the rule of law.

Justice Ademola issued the order following complains by counsel to Dasuki, Mr. Ahmed Raji (SAN) that his client was being held incommunicado since December 2015.

The judge who was not comfortable with the complaints of Dasuki’s lawyer gave a ruling in which he ordered that Tuesdays and Thursdays be set aside for

Dasuki to have free access to his lawyers and family members for at least two hours of the day.

The court ordered that the meeting of Dasuki with his lawyers and family members should take place at the Interview Room of DSS Headquarters and the Federal High Court premises in Abuja unhindered.

In the order, the judge granted the defendant access to four lawyers and two members of the family on the dates and venue chosen by the court.

Raji had complained that his team could not prepare adequate defence for Dasuki in the charges of unlawful possession of firearms brought against him by the federal government because the DSS had rebuffed all efforts to see the client.

In another development, the judge also refused to discharge Dasuki and prohibit the federal government from prosecuting him on the ground of the refusal to allow him enjoy the bail granted him.

Justice Ademola said in his ruling that Dasuki ought to have filed contempt charge against the federal government for the disobedience of lawful court orders made last year admitting him to bail and permitting him to go abroad for his medical check up.

The court said since due process was not followed by a way of contempt charge, there was no way the court would have discharged the defendant and prohibited his trial by the federal government.

House Approves Request to Increase Diaspora Bond to $300m Damilola OyedeleinAbuja The House of Representatives has approved the request of the federal government seeking an increase in the amount raised through the Diaspora bond from the international market from $100 million to $300 million.

The request by President Muhammadu Buhari laid before the House on March 3, 2016, is captured under the federal government’s external borrowing plan 2016-2018.

The request was approved following consideration of the report of the ad-hoc committee to the House presided over by the Deputy Speaker, Hon. Yussuff Sulaimon Lasun, yesterday.

The report of the ad hoc committee, presented by Hon. Garba Shehu (Kano APC), said the increased bond would assist

to diversify government sources of funding, and would take advantage of the large Diaspora population of Nigerians abroad.

The report noted that the bond reduces the interest cost of government’s borrowing as it is an inexpensive way to raise funds for developmental projects, while proceeds of the issuance would be used to finance capital projects in priority sectors of the economy such as roads, railways, power projects among others.

The committee recalled that Nigeria’s debut entry into the international capital market was in January 2011, with issuance of a $500 million euro bond, before the issuance of another $1 billion euro bond in July 2013.

“The first $500 million euro bond was for a tenor of ten years and issued at the rate of 6.75 per cent, with the subscription rate at

260 percent…the second issuance of $1 billion euro bond in 2013 was in dual tranches of $500 million euro bond each,” the report said.

“The first tranche of the $500 million euro bond in 2013 was for a tenor of five years and issued at the rate if 5.125 per cent, with the subscription rate at 346 per cent…the second tranche of the $500 million euro bond was for a tenor of ten years, issued at the rate of 6.375 per cent and at a subscription rate of 445 per cent,” the report added.

“That in the seventh Assembly, the Committee on Aids, Loans and Debt Management considered and recommended for approval the request for an increase in the issuance amount from $100 million to $300 million, but the House was unable to consider the report of the committee before the expiration of its tenure,” the report read.

refused. He however succeeded in luring Ibrahim Al-Zakzaky who was a student in the Department of Economics.

Islamul-Haq house became a laboratory for the recruitment centre and induction of Shiism,” he recalled.

Tracing the activities of the Shiite, Mahdi recalled that in 1979, residents of Zaria and the university community woke up one day and saw how billboards, public and private buildings, tarred roads and public places were adorned with the slogan “Islam only.”

He said from his personal experience and authentic information he had gathered, violence rather than peace has characterised the activities of Shiite in Zaria, Sokoto, Gombe and elsewhere.

According to him, the movement is very organised and operate a state within a state.

Giving further details about how the Shiite operates, Mahdi said: “Generally they operate in cells, in complete secrecy, the cells are spread across many parts of the country, especially in Northern Nigeria.

“There is a kind of Central Working Committee which meets

frequently under the leadership of El-Zakzaky. At the state level, each state has a governor and a secretariat.

“At the central and the state levels, they have committees such as education, finance, recruitment and logistics.

“They have well organised training programmes, especially for the training of cadets and different categories of militia.

Iranian envoys and probably specialised groups from Iran offer them ideological and other forms of training, especially military training, this can be observed from the video clip.

“There is reason to believe that Shiite are patronised or supported by some politicians and even some ruling houses who are not on the throne. I have observed this development for sometime.

“Without the active support of the Iranian and local elite, they will not arrogate to themselves the power they flagrantly display.”

According to him, “Some Shiites are now occupying top positions in the civil service and government.

“They provide Shiite with ideological, psychological and financial support as well.

Iranians use money as a tool

for recruitment into Shiism in foreign countries.

“Residents of Zaria and its environs for years have been asking if there is a government in the country at all!

“There was clear breakdown of law and order in Zaria for many years to the extent that even the security agencies were living in a state of trepidation.

“Shiite propaganda gave the youths false hope regarding their future, that the emergence of an alternative government in Nigeria was imminent- a Shiite government under the control of Zakzaky.”

He added that the activities of Shiite have serious security threat to the stability and integrity of Nigeria. They constitute security threat to all communities they are found in the minority.

“Iran, their sponsors are well known for exporting terrorism all over the world. Iranian government use Shiites minorities as tools in Muslim countries or countries with a sizable Muslim population.

“They exist in foreign countries to interfere into their internal affairs.

They subvert governments and compromise their sovereignty.

Lebanon is a case in point.

T H I S D AY WEDNESDAY APRIL 20, 2016

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T H I S D AY • WEDNESDAY, APRIL 20, 2016

COMMENT

Editor, Editorial Page PETER ISHAKA Email peter.ishaka@thisdaylive.com

AS BUHARI RETURNS FROM CHINA… There is much work to do at home, writes Sonnie Ekwowusi

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ow that President Muhammadu Buhari is still basking in the euphoria of his recent visit to China and the goodies he came back with such as $6 billion loan deal, $15 agricultural assistance, the Yuan currency swap, he should now settle down to the real business of ameliorating the misery and hopelessness in the land. Nigeria, truth to tell, is seriously sick and needs urgent assistance.

Anybody yet to come to this grim realisation is revelling in hypocrisy.

We have become so sick in recent weeks. I advise President Buhari not to just sit down in Aso Rock. He should take trips round the country to appreciate the deteriorating living condition of the people.

So, this is not the time for buck passing. This is not the time to trade arguments or blame the Jonathan government. This is the time to get going. This is the time to get up from our slumber and tackle the human misery around us. The Chinese do not have time for gossip let alone time to indulge in personal vendetta or extraction of a pound of fresh. The Chinese work a lot. Keep a group of Chinese workers in one small office and you will be amazed by the quality of work they will churn out at the end of the day. Now that President Buhari has visited China, let’s start working hard like the Chinese. To pretend that everything is in order or that the much-vaunted APC change will soon miraculously blossom out catapulting every Nigerian to instant prosperity is hypocrisy most holy. We cannot shy away from solving the problems that will make life unlivable for the average Nigerian.

Nigeria is presently in dire need. She needs a bail out, if you like.

President Buhari has been offered $6 billion loan by China. The loan, we are being told, will be used to fund infrastructure projects across the country. Details are to yet to emerge on the specific infrastructure projects the fund will be channelled to. Is it federal roads’ project? Is it pipe-borne water project? Is it electricity project?

First things first. Like a baby we need to first learn to walk before running. We cannot wish away the fact that Nigeria is a big country without electricity supply in the 21st Century. We can pretend that this is not the truth. President Buhari will attest that electricity failure is not even discussed among the Chinese. But come to Nigeria and see how everybody, even the infants at the breasts groan in pains as a result of power failure. Last week in my neigbourhood I witnessed a very moving incident. Time was 1.30 p.m. As usual, fire was falling from high heavens. (It was intensely hot). No electricity supply, of course.

It seemed as if nature and the Disco had conspired to rain down brimstone from high heavens to torture mankind. Drenched in my sweat from head to toe I struggled to make the best of the uncomfortable situation and put up with the day’s job. Then suddenly there was a noise commotion everywhere around me, a commotion which was occasionally drowned by the roaring noise of the neigbours’ generators.

On opening my window I got a clearer picture of what was amiss: the babies in my neigbourhood were wailing uncontrollably. Ostensibly dehydrating from the hot weather, the babies were whining and asking everyone to come to their rescue. If babies whom you could say hardly

THE WAILING BABIES IN MY NEIGBOURHOOD COULD SERVE AS A METAPHOR FOR THE HOPELESSNESS IN THE LAND. WE MUST TACKLE THE HOPELESSNESS IN NIGERIA. A GOOD BEGINNING IS TO PROVIDE CONSTANT ELECTRICITY SUPPLY IN NIGERIA

complain about anything are today complaining about the hardship in Nigeria, it means that we need to put things right in Nigeria.

The wailing babies in my neigbourhood could serve as a metaphor for the hopelessness in the land. Therefore we must tackle the hopelessness in Nigeria. A good beginning is to provide constant electricity supply in Nigeria. I do not think the energy crisis in Nigeria has surpassed our human intelligence. Venezuela, for example, has been experiencing power failure. But the Venezuelan political leaders are providing solutions to the problem. Recently, in a bid to help Venezuela cope with electricity failure due to hydroelectric problems, the Venezuela Electricity Ministry announced a three-month plan that would require malls and shopping centres to provide their own electricity from 1pm to 3pm and again from 7pm to 9 pm everyday. Therefore Nigeria’s energy crisis is soluble.

Now that the president has returned with $15 agricultural assistance, we need to start investing seriously in agriculture. At independence, agriculture, livestock, forestry and fishery contributed more than 66 per cent of Nigeria’s GDP. In the 1960s Nigeria was the world’s largest exporter of groundnuts and palm produce and the third largest producer and exporter of cocoa. We can do it again: we are capable of growing enough food not only to feed ourselves but to export to the outside world. The Chinese do not sit down and lament about their population growth. They use their population for their benefit. In the same vein, instead of idly sitting down and complaining about our population, we should think of how to engage the minds of so many young people roaming about the streets in productive enterprises such as agriculture. Nigeria’s population will cease to be a threat a when it is matched by a well-designed, modernised agriculture that meets the food challenge in Nigeria.

Finally, I am sure Mr. President Buhari returned with the Chinese wisdom. Poor performance or outright failure in political leadership has, among other factors, been attributed to lack of wisdom. In her incisive essay titled: An Inquiry into the Persistence of Unwisdom in Government, Barbara Tuchman, eminent American historian, twice winner of the Pulitzer Prize wondered why after man had accomplished marvels: invented electricity; gone to the Moon; built great cathedrals; composed Mozart; acted Shakespearean Drama; philosophised about nature and earthly existence and penetrating the mysteries of genetics, he had accomplished less in government. After a painstaking comparative study of empires and countries such as Greece under Pericles; Rome under Caeser; France under Napoleon; Germany under Hitler; China under Mao Tse-Tung; United States under George Washington, Tuchman attributed man’s poor performance in government to, among other things, lack of wisdom.

Therefore if Mr. President applies the Chinese wisdom to his everyday work in the presidency I am sure Nigeria under his watch will positively be transformed.

COMBATING WATER SHORTAGES IN RIVERS

E

Simeon Nwakaudu writes that the state government is addressing the issue of water supply in the communities

veryone needs safe drinking water to survive. Therefore, nobody ought to be denied access to safe drinking water, irrespective of his/her inclination.

Under the immediate past administration in Rivers State, water was simply an object of unending politics. There is water everywhere in the state, but the people had none to drink. Instead they were treated to endless press conferences on why they should endure the absence of potable water and clean environment.

The provision of potable water for the ever-growing population of Port Harcourt and Obio/Akpor has always been a huge challenge. This was one of the platforms of the contract that Governor Nyesom Wike, then the PDP governorship candidate entered with the people of the state.

The New Rivers Vision Development Blueprint on Page 12 outlined: “The New Vision seeks to ensure regular access to potable water for all residents in Rivers State. For this purpose, our government will address the issue of water security and ensure that water flows to private homes and public places”.

Governor Wike’s New Rivers Vision Development Blueprint further projected to revive abandoned existing water stations and distribution channels, develop new water projects in Port Harcourt, Obio/Akpor and other urban centres. The blueprint indicated that the then incoming Wike administration would cooperate with the federal government and other development agencies to enhance water supply to the inhabitants of the state.

The New Rivers Vision Development Blueprint on page 20 also outlined Governor Wike’s systematic approach towards resolving the sanitation challenges of the state, especially the urban centres.

Specifically, the blueprint sought to ensure effective management of solid, domestic, industrial and medi-

cal wastes through private/public partnership.

Wike has taken concrete steps to translate these laudable objectives to reality for the overall benefits of the teeming inhabitants of the state.

On Friday, April 15, 2015, the governor took the most important step of bringing into fruition the process of ensuring that the people of the state have access to safe drinking water. He also put in place measures to clean up the environment for healthy living in the state.

He launched the state urban water sector reform, the Port Harcourt Water Supply Scheme and the Sanitation Project. Performing the launch in Port Harcourt, Governor Wike said the project would create women entrepreneurs, youth employment as well as provide safe drinking water for the inhabitants of the state. Represented by the State Agriculture Commissioner, Mrs Onimim Jacks, the governor said the project is key to the development of the state.

He said: “The project is in line with our promises to the people of the state as clearly spelt in our blueprint that we shall provide safe drinking water for the inhabitants of the state “. The governor said that within the first 100 days of his administration, the Potable Water Scheme was launched at Abonnema in Akuku-Toru Local Government Area.

He commended the federal government for selecting Rivers State as one of the pilot states for the scheme, noting that the state government would pay her counterpart funds as at when due.

Governor Wike maintained that his administration would always collaborate with the federal government in areas that would benefit the populace.

The Port Harcourt Water Supply and Sanitation Project is targeted at addressing the poor water infrastructure in Port Harcourt and Obio/Akpor Local Government Area. It will also address the

sanitation challenges in the two urban areas.

The new water supply scheme for Port Harcourt and Obio/Akpor Local Government Areas would be better appreciated from the standpoint of the untold hardship experienced by the population of the areas due to the absence of potable Water Supply. With a population of about two million people, which is increasing by the day, the governor’s water project will resolve the challenge of residents of Port Harcourt and Obio/Akpor relying on unhealthy shallow water from boreholes.

Under the project, the Rivers State Government will be constructing 400 kilometres of water reticulation pipelines to cover the length and breadth of Port Harcourt and Obio/Akpor Local Government Areas. The sanitation aspect of the project will entrench international best practices in waste management. It will discourage open defecation, sub-standard sanitation and un-hygienic practices.

The project will be managed by Messrs Rambol Denmark AS/Hospitalia Consultaire Limited JV with seasoned professionals in all relevant fields.

The project will run for two years with Rivers State engineers receiving the required training to consolidate on the successes of the scheme.

In his remarks, Rivers State Commissioner for Water Resources and Rural Development, Chief Ibibia O’Walter said the project was part of a wide sector institutional reform embarked upon by the state government as coordinated by the National Urban Sector Water Reform Office of the Federal Ministry of Water Resources.

He explained that funding for the project will be sourced from the World Bank and the African Development Bank. According to him, the ADB will contribute USD200million, World Bank USD 80 million and Rivers State Government, USD 48 million as counterpart fund.

The partnership developed with the World Bank,

ADB, the federal government and the Rivers State Government will translate into potable, safe water for the inhabitants of the two urban centres.

In the water reform package of Governor Ezenwo Wike, the administration on February 2, 2016 inaugurated the state project to develop water and sanitation facilities for Opobo/Nkoro and Akuku-Toru Local Government Areas. The laudable project is being sponsored under European Union Niger Delta Support Programme (water and sanitation component). Governor Wike has released N200 million which is 30 per cent of the counterpart fund while the European Union has set aside N500 million which represents 70 per cent of the funding.

The Wike administration has expanded the Eleme Water Works, extending its reticulation capacity.

The reticulation of the Eleme Water Works has been extended to Alesa and Agboncha communities.

Further extension of the reticulation pipelines to other communities in the area is ongoing.

The extension of the reticulation pipelines for Okrika town has also been completed by the Wike administration. Governor Wike has inaugurated the design and conceptualisation of water laboratories in the three senatorial districts of the state. The three laboratories to ensure the effective treatment of water will come on stream this year.

The administration is also rehabilitating10 old water schemes across the state, while six new ones will be built this year as stipulated in the state’s 2016 budget.

For three other prominent urban centres in the state, Governor Wike has proposed massive water schemes to tackle the water needs of the people. The following projects will soon be commenced: Bori Regional Water Scheme, the Ahoada Regional Water Scheme and the Degema Regional Water Scheme.

Nwakaudu is Special Assistant to the Rivers State Governor on

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T H I S D AY • WEDNESDAY, APRIL 20, 2016

EDITORIAL ISSUES IN THE ZARIA MASS BURIALS

T

The outline of the bloody encounter between the Nigerian Army and the Islamic Movement of Nigeria is emerging

he Kaduna State Government last week announced that 347 persons were killed during the clash last December between the Nigerian Army and members of the Islamic Movement of Nigeria (IMN), popularly called Shiites, in Zaria. According to the Director-General, Kaduna State Interfaith Agency, Mr Namadi Musa, it took the officials about six hours to complete their mass burial in a single grave.

While we find the revelation, made at the public hearing of the judicial commission of inquiry probing the crisis very disturbing, Amnesty International (AI) has also joined other human rights groups both at home and around the world in demanding investigation into the bloody affair. AI in a statement in Abuja said that the “horrific revelation by the state government that hundreds of Shiites were gunned down and dumped in mass graves is an important first step WHATEVER THE to bringing all those suspected of crimiOUTCOME OF THE INVESTIGATION, THERE nal responsibility ARE TOO MANY THINGS for this atrocity to trial.” The stateTHAT ARE SIMPLY ment added that “it BEWILDERING ABOUT is now imperative THIS TRAGEDY that the mass grave sites are protected in order that a full independent forensic investigation can begin.”

Last week the counsels to the Islamic sect disclosed that the leader of the sect, Sheik Ibraheem El-Zakzaky who is being detained at Department of State Security (DSS) Headquarters in Abuja, lost his left eye to the attack, adding: “his left hand has lost its motion function.”

Even though the report simply confirmed earlier reports that El-Zakzaky and wife were not in

Letters to the Editor

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the best of health, it was essential that one of the counsels to the Islamic sect was finally allowed to see them in detention.

In a recent editorial, we had expressed serious misgivings about the manner the Nigerian authorities have handled this tragedy. We also admonished that while many fine points of the bloody incident were still vague, it was necessary that all sides, especially the federal and Kaduna State governments as well as the DSS, refrained from actions that could only compound the situation. At the end of the day, we took the position that anyone or group found liable for the violence must be brought to justice.

H T H I S DAY

EDITOR IJEOMA NWOGWUGWU DEPUTY EDITOR BOLAJI ADEBIYI MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR KAYODE KOMOLAfE CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN

T H I S DAY N E W S PA P E R S L I M I T E D

EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAfE, ISRAEL IWEGBU, EMMANUEL EfENI, IJEOMA NWOGWUGWU GROUP FINANCE DIRECTOR OLUfEMI ABOROWA DIVISIONAL DIRECTORS PETER IWEGBU, fIDELIS ELEMA, MBAYILAN ANDOAKA, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTORS HENRY NWACHOKOR, SAHEED ADEYEMO CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI GENERAL MANAGER PATRICK EIMIUHI GROUP HEAD fEMI TOLUfASHE ART DIRECTOR OCHI OGBUAKU II DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com

TO OUR READERS Letters in response to specific publications in THISDAY should be brief (150-200 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (9501000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.

THE CHINESE GESTURE: BETWEEN LOANS AND INVESTMENTS

ecently President Muhammadu Buhari flew back to Nigeria after spending a week in China. His working visit to China aimed at securing greater support from Beijing for the development of Nigeria’s infrastructure, especially in the power, roads, railways, aviation, water supply and housing sectors.

Meanwhile, there is confusion and disagreement on whether the president was in China to seek for loans or was there to convince the Chinese government to make investments in Nigeria. Some weeks before the President Buhari flew to china it was disclosed that he would visit China to sign a loan infrastructure projects deal estimated at $2 billion.

The low interest loan is to be deployed to finance the N2 trillion deficits in the budget.

In a recent interview with the President’s Special Adviser on Media and Publicity, Mr Femi Adesina, he stated, “I can’t tell you how much until the day the loan will be signed. Both countries will also be signing some bilateral agreements to strengthen their relationship, that is all I can say for now.”

According to the Nigerian Minister of Finance, Kemi Adeosun, who had visited China in February to discuss the loan, “We are borrowing first of all at the cheapest rates, so multilateral loans are the

owever, in the light of the new revelations about the number of corpses brought from the army barracks, all of them buried in one day and in a single grave, we feel very worried about an evidently a shooting rampage in Zaria. And so are many people across the world who cannot understand the lack of importance we attached to human lives in Nigeria.There are several questions begging for answers here: Who exactly were these people whose corpses were brought from the army barracks and how did they die, especially in such a large number? Were the identities of the dead bodies ascertained before they were given a mass burial? If they were buried on December 15, as revealed by the Kaduna State officials, and the clash between the Shiites and the army occurred December 12 -13, at what point did these people die? And were the right protocols observed in conducting the burial?

These and many other questions we believe the commission of inquiry set up by the Governor of Kaduna State, Mallam Nasir el-Rufai, should help to unravel before they round off their investigations. Whatever the outcome of the investigation, there are too many things that are simply bewildering about this tragedy.

cheapest,” she disclosed. All these reports were made before the president’s travelled to China. But to our surprise it was later revealed that the president visit yielded investment exceeding $6 billion dollars. Last week Friday the special adviser to the president on media and publicity, Femi Adesina said that the president never signed any loan agreement with the Peoples Republic of China during his one-week working visit to the Asian country. He said, “There was no loan deal during the president’s visit to China. All that is coming are investments into Nigeria.”

Another statement by the Senior Special Assistant on Media and Publicity, Garba Shehu said the several agreements concluded with the Chinese during the visit will have a “huge and positive impact on key sectors of the Nigerian economy including power, solid minerals, agriculture, housing and rail transportation.”

He concluded that “about 100 Nigerian businesses and 300 Chinese firms participated in the Nigeria-China business forum” which took place as part activities marking the president’s trip. It seems there is a confusion in understanding the differences between loans and investments.

Saad Yushau Shuaib, Department of Account, Baze University, Abuja

POLITICS AND FORENSIC EVIDENCE

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ne of our national malaises is our short memory on issues of national importance. Can anyone remember that an alarm was raised on tampering with voting materials used for the November 21, 2015 governorship election in Kogi State by the All Progressives Congress? Are we not in a country where anything goes and where election is still being perceived as a ‘dirty game’, where all untoward practices can be deployed all in an attempt to clinch victory?

It would be recalled that the defeated PDP candidate in the election under reference lost to the joint ticket of Abubakar Audu/James Faleke but still went ahead to protest the victory of the latter at the Election Petitions Tribunal set up for the Kogi governorship election of November 21, 2015 with a prayer to the tribunal to take cognisance of forensic evidence in the case.

The forensic experts are human beings and for the fact that we all remain as political animals, the level of reliance on our words and deeds on election matters could be open to doubts at any given time. It is no doubt chiefly for this important reason, among several others, that much attention was not given to reliability on forensic evidence and that is why the use of such evidence in election

cases usually become secondary in decision taking by judges. There is an adage in Yoruba that says: “Oyinbo to se pensulu na lo se iresa” meaning, “Sight must never be lost of the fact that the white man who manufactures pencil to write also doubles as the manufacturer of the eraser which can be also be used to eraze or alter what has been written down with pencil.”

There are electoral laws guiding not only the processes, but also bothering results collation and the signing of various forms by representatives of political parties after the conduct of an election.

After all, the various forms used in our elections were designed to serve some useful purposes.

The medicine-after-death syndrome plays out not only in election matters but in all the spheres of human lives all over the world and that geographical entity called Kogi State as an integral part of the world cannot be an exception. It is commonplace to observe that electorate usually turn to ‘emergency lawyers’ where both the learned and the stark illiterates in the society give various interpretations to the constitution and electoral laws to suit ulterior desires. This situation, without doubt, add glamour to politics in spite of the ‘dirty’ mindset of our politicians that power must be seen as a do-or-die affair which must be got at all costs.

Odunayo Joseph, Mopa, Kogi State

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T H I S D AY • WEDNESDAY, APRIL 20, 2016

MIDWEEKPOLITICS

Group Politics Editor Olawale Olaleye Email wale.olaleye@thisdaylive.com 08116759819 SMS ONLY

THE NEWSMAKER

Bello’s Unending Problems

Although the Kogi State Governor, Alhaji Yahaya Bello has since assuming office three months ago hopped from one crisis to the other, this time he seems to be faced with a bigger challenge following the vote of no confidence passed on him by 34 members of the APC state executive council. Yekini Jimoh writes

K

ogi State Governor, Alhaji Yahaya Bello may be facing yet another trouble in the state, no thanks to the recent vote of no confidence passed on him by the Kogi State APC executive council. The governor has lately been facing series of problems since he assumed the leadership of the state on January 28th as the fourth civilian governor of Kogi State.

One of the first problems encountered by the governor was the alleged impeachment of the Speaker of Kogi State House of Assembly, Hon. Momohjimoh Lawal, said to have been instigated by him. Although the governor inherited the state assembly crisis, expectation was that the governor would have mediated in the issue and make sure peace reign in the state assembly by now.

Unfortunately, following palpable failure of leadership on the part of the governor, the assembly members dragged themselves to court and the crises has since become a national issue, prompting the National Assembly to intervene by sealing off the Assembly Complex after efforts to reconcile the warring lawmakers failed.

A few weeks ago, the state’s chapter of the All Progressive Congress (APC) passed a vote of no confidence in Governor Bello, alleging that he was sidelining the state executive of the APC and other organs of the party in the affairs of the state.

In a letter dated April 12, 2016, and addressed to the National Chairman of the APC, Chief John Odigie-Oyegun and signed by all the 34 members of the state executive council, the Kogi APC accused Bello of sidelining members of the governing party and hobnobbing with members of the opposition Peoples Democratic Party (PDP).

They accused him of failing to appoint not a single card-carrying member of the APC, saying “all the 45 appointments made so far by His Excellency, Governor Yahaya Bello are given to the PDP”.

Members of the state Assembly are currently involved in leadership crisis with two of the lawmakers claiming the right to speakership. The APC exco also accused the governor of being the source of the crisis in the legislature, passing a resolution that “henceforth, we will have nothing to do with the government of Yahaya Bello.”

Part of their requests to the national leadership of the party was that Mr. Bello should not be allowed to have a hand in producing the next ministerial nominee from the state to replace the late James Ocholi, who died recently in a road accident. The party chieftains advised the national secretariat and the presidency to work with the state party leaders in appointing a replacement.

The publicity secretary of the party in the state, Ghali Usman, confirmed the meeting and the decision taken, recalling that the only time the state exco met with Governor Bello “was before his inauguration when he went to collect his certificate of return.” He however, added that “since then we have no idea of what is happening in the administration. The governor asked us to submit all we needed before his inauguration which we did in writing, but he has since ignored our list and continued to appoint PDP people.”

The Exco members also accused Bello of working with the opposition PDP in the recent re-run elections in the state.

“An APC governor, who supported the PDP in the last re-run election, making us to lose two senators, one House of Representatives and two House of Assembly members; an APC governor, who has not deemed it fit to appoint a single APC member in his cabinet and board; an APC governor, who openly relates with PDP Local

Bello...a bumpy start.

Government Chairmen and leaders and abandons his party men is not our best dream project,” they said.

However, the in-house crisis took a more serious twist when stakeholders in the party demanded the governor’s resignation. According to them, since the platform on which Bello rode to become the governor had passed a vote of no confidence in him, the most honourable thing for him was to resign along with his deputy, Simon Achuba.

The spokesperson for the stakeholders, Mr. Ben Adaji, accused the governor of rendering the party hierarchy useless in the scheme of

An APC governor, who supported the PDP in the last re-run election, making us to lose two senators, one House of Representatives and two House of Assembly members; an APC governor, who has not deemed it fit to appoint a single APC member in his cabinet and board; an APC governor, who openly relates with PDP Local Government Chairmen and leaders and abandons his party men is not our best dream project

things in the state, saying with the vote of no confidence coming from the party, Bello could not lead the state.

“What we are saying is that if the platform he claims he represents, the platform he claims brought him to power will go to the public glare to disown him and pass a vote of no confidence in him, he has no justification for remaining on that seat as governor. He should resign; Alhaji Yahaya Bello should resign honourably and allow the party in Kogi state to function as it is in other states of the federation.

“It is evident that Yahaya Bello has nothing to give to the people of Kogi state. His three months sojourn as governor has clearly exposed him that he is incompetent; he lacks the capability and the technical knowhow to lead this state.

We should not allow Kogi State to die. That is why as stakeholders in APC in Kogi State we are calling on Yahaya Bello to resign honourably because the platform he claimed brought him to power has said he is not capable of leading them. That means he is not capable of leading the people of Kogi State.”

Adaji added that the governor has in the last three months been collecting the allocation due to the state without anything on the ground to show for it and described his tenure so far as a disaster to the people of the state.

But Bello has said the cause of the problem is because members of the party’s executive in the state were resisting the change he was bringing to the state. Chief Press Secretary to the governor, Mr. Kingsley Fanwo, said his administration was “not unaware of some political chess play among members of the executive committee of the party in the state.”

He pointed out that the circumstances that brought the governor to office were “surely unusual. Therefore, unusual reactions are expected”.

Mr. Fanwo said whatever might be going on within the state executive council “is surely a contagious effect from the politics of interest within the party leaders in the state. We expect the state

executive committee of the party to keep working with the leadership revolution that is reshaping the state to ensure rapid development,” he said.

While insinuating that the running mate to late Abubakar Audu, James Faleke, is behind the party’s decision, Mr. Fanwo said both “Faleke and Governor Yahaya Bello are members of the change family and no one should allow himself to be caught in the political crossfire playing out in the state.”

Faleke is presently at the state governorship election tribunal challenging the emergence of Bello as governor. Bello emerged governor after inheriting the bulk of the votes scored by the late Audu and Faleke in the election held last year.

Fanwo, however said Bello was committed to working effectively with the leadership of the party and that the governor appreciates the role of the leaders of the party in ensuring the resounding victory of the APC in the state.

“Now that APC is in firm control of the state, it is foolhardy to think party leaders won’t bury their differences to deliver solid dividends to the Kogi people. It is absolutely untrue, ignominious and unintelligent to insinuate that members of the State Executive Committee of APC are working at variance with the landmark progress of the APC government in the state.

“The SEC of APC is aligning with the vox populi that has continued to hail the fairness, boldness and dynamism of the present administration in Kogi State. With the train of the New Direction already taking Kogi to new destinations of hope, the party must be very proud of the laudable programmes and policies of the Yahaya Bello administration in the state.

“We also urge those stoking the flame of discord from outside the state to believe in the judiciary and stop their war which has continued to fail.

Kogi has a new government and hope is here.

The people and the party have confidence in their governor to continue to stir the state to the confluence of opportunities and possibilities.

“However, the governor will remain the firm leader of the party, who is prepared to build a united, virile and disciplined APC that has the capacity not only to win elections, but to deliver democracy dividends. The governor will sustain his commitment towards building a great state without prejudice to ethnicity, religion or political appeals,” he said.

On the calls for the governor to resign from office, the Chief Press Secretary said, “There is no point for the governor to resign because the allegations that brought about the alleged vote of no confidence was baseless as there was also nothing like appointment of 45 people as being claimed by the SEC members.

“So the governor cannot resign on the basis of such allegation. The people calling for resignation are apologists of those working against the choice of the party during the last supplementary election in the state. Many of the members of the state executive council of the party were picked by the late Abubakar Audu and they are therefore doing the biddings of those in the camp. It is therefore a reckless call to have asked Alhaji Yahaya Bello to resign based on the actions of such people “The people that instigated the members of SEC are the same people playing the next track which is to frustrate the governor and distract him from delivering his laudable programmes and projects to the people of the state,” he noted.

However, from all indications, all eyes are now on the governor, the party and assembly members on how the present political crises will be resolved and if not to see where next the battle is shifted.

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T H I S D AY • WEDNESDAY, APRIL 20, 2016

ONTHEWATCH

MIDWEEKPOLITICS

Alex Badeh’s Crucifixion

In spite of the collective resolve to battle corruption, every accused person is innocent before the law until proven otherwise, so the case of the former Chief of Defense Staff, Alex Badeh should be treated with the same guiding principle, writes Shola Oyeyipo

T

here is no doubting the fact that Nigerians, irrespective of tribe, religion or party affiliations are hand in gloves with President Muhammadu Buhari in the fight against corruption at every level and anyone caught in the web easily becomes a subject of national discourse. The reason is simply. All of Nigeria’s woes are traceable to inequality in the sharing of the commonwealth as a result of widespread graft. So, as it is today, it is best to avoid the stigma of being tagged one of the people, who have shortchanged the country because either right or wrong, the process of explaining oneself is odious.

But as the anti-corruption fight gathers momentum, the former Chief of Defense Staff (CDS), Air Chief Marshal Alex Badeh has found himself entangled in the circle of corruption allegation and now faces the task of clarifying what actually happened in the face of the huge allegations brought against him.

The Economic and Financial Crimes Commission (EFCC) brought the former Chief of Defence Staff before an Abuja High Court on a 10-count charge, ranging from misappropriation of funds meant for the Nigerian Airforce. He was accused of conniving with one Iyalikam Nigeria Limited to spend the funds, part of which was purported said to have been invested in choice property in highbrow areas in Abuja.

In the charge bordering on money laundering, corruption and criminal breach of trust, marked FHC/ABJ/CR/46/2016, dated February 26 and signed by the Deputy Director of Legal and Prosecution Department at the EFCC, Mr. Aliyu Yusuf, it was alleged that between January and December, 2013, Badeh used dollar equivalent of the sum of N650 million to purchase a commercial plot of land situated at Plot 1386, Oda Crescent, Cadastral Zone, A07, Wuse II, Abuja.

He was said to have between March 28 and December 5, 2013, paid N878, 362,732.94 taken from the account of the Nigerian Air Force, into the account of Rytebuilders Technologies Limited with Zenith Bank Plc, for the construction of a shopping mall on the plot. He was also alleged to have diverted another dollar equivalent of N304 million to the firm, Rytebuilders Technologies Limited, for the completion of the shopping mall.

The EFCC further alleged, among others, that Badeh used dollar equivalent of N260 million from the accounts of the Nigerian Air Force paid to one Ouwatoyin Oke through Platinum Universal Project and Construction, to purchase a duplex for his son, Alex Badeh Jnr and that the defendant further used N60 million to renovate the property situated at 19, Kumai Crescent, Wuse II, Abuja and another N90 million to furnish it.

But he has repeatedly denied the allegations by the EFCC that he misappropriated funds meant for the Nigerian Air Force and is particularly disenchanted about the unfair treatment meted out to him by the country he claimed to have fought hard for against the Boko Haram sect.

Badeh is also very pained that despite his assurances to the EFCC that he would fully cooperate with any investigations, he was being treated unfairly and his rights violated.

In what looked like the anti-graft agency was just out to detain him in their custody for as long as they cared, the trial judge had berated the EFCC for not complying with the court’s directives as regards Badeh’s bail condition.

During one of the sessions, counsel to the defence, Mr. Akin Olujimi (SAN) brought to the judge’s attention, the fact that the defendant had earlier met the bail conditions, after he had initially asked for variation but that the EFCC failed to do its part with regards to independently ascertaining the value of such properties and getting back to the court within 24 hours as to whether they met the conditions.

Justice Okon Abang had to rule that he was compelled to vary the part of the condition that required EFCC to ascertain the value of those properties and get back to the court within 24 hours. He also ruled that the EFCC could not

Badeh...in search of justice

continue to hold the court to ransom while the defendant’s bail application was left to suffer while waiting for the commission to carry out a duty required of it by the law.

A close family source told THISDAY that a thriving angst among Badeh’s family and friends is particularly that he was not getting fair hearing.

First, they feel particularly perturbed that he is a victim of media trial because of the way the allegations against him were being celebrated in the media whereas he has not been found guilty already.

Secondly, relying on the constitutional provision that states that an accused person should be presumed innocent until a court of competent jurisdiction states to the contrary, Badeh’s close associates are strongly of the views that the former Army boss would eventually get respite from the court and as such, he should not be subjected to unnecessary agony in the course

He has repeatedly denied the allegations by the EFCC that he misappropriated funds meant for the Nigerian Air Force and is particularly disenchanted about the unfair treatment meted out to him by the country he claimed to have fought hard for against the Boko Haram sect…Badeh is also very pained that despite his assurances to the EFCC that he would fully cooperate with any investigations, he was being treated unfairly and his rights violated

of the trial.

Little reprieve eventually came the way of the embattled former Army boss when on Thursday, March 24, he was released having perfected his rigorous bail conditions. He had pleaded not guilty and was granted bail in the sum of N2 billion, with two sureties in the sum of N1 billion each. He however remained in Kuje prisons pending the bail perfection.

After spending about 14 days, Badeh eventually perfected his bail conditions and was released about two weeks ago. Altogether, he was in prison for more than a month. With his bail secured, a major hurdle has been scaled because during his detention, the ex-CDS, begged for bail. He felt that he was being held in custody when actually he could be granted bail while the investigation and litigation by the anti-graft body continue.

“I was detained by The EFCC for three weeks and was not charged to court but was given onerous bail conditions by the commission which I could not meet. A remand warrant was hastily obtained on February 25 in Lagos as soon as the EFCC was served with a notice for my bail hearing in court by my lawyers. Why detain me for so long and issue such onerous bail conditions when they aren’t ready to charge me to court?” he queried.

Put aside, Badeh does not seem disturbed about going for the trial proper. In some of his arguments, he has articulated his position on the allegations against him and his position has always been that they are untrue.

In a statement personally signed and exonerating himself of any wrongdoing while at the helm of affairs, Badeh stated that “It has been widely reported in the news that I am being investigated over the $2.1bn arms deal but that is not true. I was not part of Dasukigate”. He also said that “The claim that five properties were acquired for me from the $2.1billion funds is also false.”

According to him, “I was Chief of Air staff from October 2012 to January 2014 and then appointed CDS. During my time as the CDS, funds for weapons were directly released to the Chief of Air staff, Army Staff and Naval Staff and not to me. I had no control over the funds and yet I am being accused of embezzling weapons funds. The office of the CDS had no

operational control of the services and had nothing to do with their spending.

“The EFCC’s claim that I received $800,000 from my Director of Finance and Accounts is untrue. I did not receive such money from the erstwhile DFA. If he claims to have given me money, where is the proof? Was it paid into my account? Did I sign for it? In the case of the properties, if they claim the properties are mine and were obtained illegally through proxies then they should go to the court and get an order of forfeiture rather than trying to insist I am the owner of the properties.

“It is unfortunate that the media has unwittingly allowed itself to be used by interested parties to become judge, jury and executioner in my case. Even when they claimed billions were found in accounts of wives of some past Air Force officers, none was found with my family yet EFCC keeps generalising and making it look like my family is involved too.”

After bemoaning the ill-treatment he was getting from a country he served so well, especially in the area of combating the Boko Haram insurgents, Badeh who is obviously prepared for the legal battle ahead said: “I reported to the EFCC when I was invited and would report anytime I am needed. All I ask for is to be given a fair hearing with the rule of law strictly adhered to.”

To Badeh, he is simply being persecuted rather than being prosecuted by the EFCC for no just cause, and as such, is confident that if he faces fair hearing, he would explicitly explain himself out of the allegations.

The case is already coming up with intrigues as the former Director of Finance and Accounts at the Nigerian Air Force, Air Commodore Salisu Abdullahi Yushau (retd), who earlier told the court how he normally handed over the dollar equivalent of N558.2million to the former CDS, said he could no longer remember the exact amount in dollars that he handed over to him during cross-examination and that neither did he have evidence showing he handed over such monies to the former CDS. As things are right now, it is only just for both sides to state their story in court and in an atmosphere devoid of harassment or any form of threat, in as much as the accused person is prepared to stand in defence of himself.

T H I S D AY • WEDNESDAY, APRIL 20, 2016

18

EVENTS&REPORTS

MIDWEEKPOLITICS

When Kwara Rallied Support for Saraki Senate President Bukola Saraki recently received a moral boost in his trial before the Code of Conduct Tribunal, when groups and leaders of thoughts from his home state openly identified with him.

Hammed Shittu reports

F

or the embattled godfather of Kwara State politics, Senate President Bukola Saraki, these are not the best of times.

The current political temperature in Kwara is evidently cloudy even as his teeming supporters are under heavy tension as a result of the current political upheavals being experienced by the political tiger.

Saraki is believed to being persecuted following his emergence as the number three man in the current political dispensation. He is currently facing charges of false assets declaration at the Code of Conduct Tribunal (CCT) sitting in Abuja.

But despite his predicament, the people of the state, irrespective of their political affiliations have continued to throw their weight behind their leader, a move that has considerably reduced tension amongst his people in the state.

Groups and individuals that have expressed support and solidarity with Saraki include Concerned Citizens on CCT, the Nigeria Need Positive Change Group (NNPCG), the Congress of Nigeria’s Political Parties (CNPP), Inter Party Advisory Council (IPAC), the state’s chapter of the All Progressives Congress (APC) and its Kwara central zone, leaders of thoughts in the North Central and the state Secretary of the opposition Peoples Democratic Party (PDP), Chief Rex Olawoye.

In the build-up to the commencement of Saraki’s trial at the CCT, hundreds of youths and women in Ilorin, the state capital took to the streets and showed solidarity with the Senate President.

The state chairman of the APC, Alhaji Ishola Balogun-Fulani, while addressing the protesters, lamented that from what has transpired so far at the tribunal, there was no need guessing that Saraki’s trial is a political set-up.

Some of the inscriptions on the placards carried by the protesters read, “Saraki’s case is political”; “CCT has two laws, one for Tinubu and one for other Nigerians” and “Sahara Reporters based in United States is an agent of evil.”

Leader of the protesters, Mr. Yinka Dalas asked the APC leaders to pass the message of the youths and women to the party’s hierarchy in Abuja, expressing disgust that Saraki was being persecuted after he had worked to help the party, adding: “We as youths and women are concerned and that is why we have come here today. Senate President Bukola Saraki’s ongoing trial at the CCT is politically-motivated.

“This is a man that single-handedly exposed the fuel subsidy scam. We are protesting in his support today and we want APC leadership in the state to take our case to the appropriate quarters. They claimed he mismanaged our money when he was the governor of Kwara State, but every discerning mind knows that it was this same man that opened up Kwara to the whole world. His achievements in office are there for all who care to see.”

The Nigeria Needs Positive Change Group (NNPCG) in a statement by its Secretary, Mr Jide Jokotade re-echoed its stand that the CCT should re-arraign Chief Bola Tinubu to answer charges preferred against him “because it is the same tribunal and the same Judge that has delivered different rulings in similar matters.”

Also, the state’s chapter of APC alleged the hijack of CCT by those it described as desperate politicians. The party warned that the judiciary may throw the country into needless chaos and pandemonium.

APC made the allegation in a statement by its Publicity Secretary, Alhaji Sulyman Buhari.

It said President Muhammadu Buhari “should not be seen to be watching helplessly when

politicians hijack a crucial arm of the government to carry out political vendetta against perceived political adversaries. Like the Counsel to the Senate President rightly noted, we are convinced that the right thing has not been done as far as the charges are concerned. It is now clear and glaring that due process has not been followed and the CCB has broken its own laws.

“Given identical cases, Nigerians should note that the CCT under Justice Umar Danladi discharged and acquitted a leader of the APC in 2011 based on Section 3(d) of the CCB/CCT Act. Why is the Senate President’s motion on the same Section 3 (d) of the CCB/CCT Act being denied by the same tribunal under the same Judge?

“Also, we are concerned about the continued intimidation of Judges by media blackmailers reportedly sponsored by agencies of government and politicians. Not once, not twice, Judges have been intimidated to either abscond with judgment or to withdraw from the cases involving the Senate President. This is sheer injustice. If the Chairman of the National Assembly can be treated in such way in this country, what is the fate of the masses?

“The CCT has been hijacked by politicians and we are concerned that the judiciary is about to throw our beloved country into avoidable chaos and pandemonium.”

The Congress of Nigeria’s Political Parties (CNPP) and Inter Party Advisory Council (IPAC) also lent their voices to the calls for the quashing of the trial of the Senate President at the CCT. The two groups made their positions known in a separate statement issued in Ilorin.

The groups held that the trial of Saraki before the CCT was borne out of political vendetta and therefore not a fight against corruption as the initiators of the trial wanted the public to believe. IPAC’s statement was signed by Alhaji Adebayo Lawal (Chairman) and Hon Dave Ifabiyi (Secretary) while that of CNPP was signed by its Secretary, Olufemi Adeleke.

IPAC in its statement noted that “What is happening in the political arena as far as the

This is a man that singlehandedly exposed the fuel subsidy scam. We are protesting in his support today and we want APC leadership in the state to take our case to the appropriate quarters. They claimed he mismanaged our money when he was the governor of Kwara State, but every discerning mind knows that it was this same man that opened up Kwara to the whole world. His achievements in office are there for all who care to see

Saraki...the battle of his life!

senate presidency is concerned is nothing short of tyrannical rule of one strong pillar of the ruling party, the All Progressives Congress (APC), who only wants his men in all strategic positions of government and party.

“Any democratic dispensation that practices such is nothing short of dictatorship and nepotism.

This is definitely an action that any Nigerian, who values the norms of democracy would not adopt while some people are running the nation’s affairs like their domestic affairs. We should not allow the “man” to die in us while someone takes the pride in riding us rough-shod away from the kind of political ideology we cast our votes for.

“In all advanced democracies of the world, where the bi-camera legislature is practised, the members of the hallowed chambers reserve the right to elect whoever they like to lead them, hence the unwholesome dictation from the party godfathers should not override the interest of members of the legislators.

“The senate president should no longer be compelled to appear before the CCT since he has his team of erudite lawyers representing him.

The charges should be reviewed to eliminate all areas of witch-hunting, vilification and persecution in view of the fact that the said declaration had been legally logged over 10 years ago,” it submitted.

The CNPP in its own statement stated that “We in the CNPP are of the valid opinion that the same treatment given to Asiwaju Tinubu then has become a veritable “reference point” that has become entrenched as a valid precedent for similar cases that emerge thereafter.

“We, therefore, categorically say no to the continued castigation and victimisation of the person of the senate president on those trumped up allegations if all Nigerians would not continue to view it as a ploy hatched by some political heavy-weights in the APC to taint the dazzling image of Dr Abubakar Bukola Saraki (CON) and thus take away his legitimate claim to the highly coveted seat of the number three citizen of the Federal Republic of Nigeria”.

The Publicity Secretary of the PDP in the state, Chief Olawoye said his support for the Senate President against his continued trial at the CCT should be viewed as a political gain for the people of the state. Olawoye, who said he remained an active member of the PDP, opined that politics should be seen as a beneficial game “when the benefits are overtly seen” as an ideology when there is a need “to be rigid”. He therefore declared his support for Saraki against his trial by the CCT, citing the alleged stance of the PDP on the issue at the national level.

According to Olawoye, “At the beginning of this episode on Saraki, he got the full supports of all the PDP senators at the Red Chambers and by an extension, the supports of the party at the National level, that was what produced for us the post of the Deputy President of the

Senate.

“Besides, whatever anyone would say, the state is at the driving seat today at the National Assembly and I see all these as derivable benefits from the occupation of the post of the office of the Senate President.”

Olawoye reminisced on how he had worked with Saraki’s father (late Olusola Saraki) and how he was allegedly influential to the emergence of Saraki as the Governor of Kwara some 13 years ago, adding that “Even though our political views no longer tally today, I remember how I risked my life for him, when the going was rough against the then incumbent Governor (late Mohammed Lawal). I will therefore not want the house we jointly build to collapse.”

Leaders of Thoughts in the North Central also at a press conference in Ilorin called for the immediate dismissal of the ongoing trial of Saraki at the CCT. Spokesman of the group, Senator Ahmed Mohammed on behalf of the people of the zone called on President Buhari not to be indifferent to the injustice and abuse of legal system in the country as being witnessed in Saraki’s trial.

He said the recent pronouncement by eminent Jurists on the illegality of the CCT and the fact that it lacks the power to prosecute Saraki was enough to prompt a presidential action on the “impunity” of Justice Danladi. He added that “On our part, we make bold to say that we would reject whatever is the outcome of this illegal and Kangaroo trial.

“Therefore, we call for the immediate dismissal of the ongoing trial at CCT but should this injustice and political persecution continue then Chief Ahmed Bola Tinubu must be re -arraigned immediately.

Justifying their call for presidential intervention, Mohammed noted that Saraki did not only deliver Kwara State 100 per cent to APC in the last general election, he was a pillar in the North Central, saying, “If fair is fair, Dr. Saraki deserves to be the most commended politician in APC.” According to him, “In the six geo-political zones of Nigeria, APC used to have only one Governor in Nasarawa before Kwara joined.

Today, APC rules in all the states of North Central for the party, courtesy of the outstanding role he played with others. There is no other zone that came from one out of six governors to six over six today. APC also has the most number in National Assembly, state Assemblies and local councils.

“Unfortunately, at this moment he is being condemned, persecuted and vilified by the party he helped to build and win. If we review his leadership at the Senate and chairmanship of the National Assembly in the last nine months, is there anyone, who has not seen the high capacity demonstrated by Dr Bukola Saraki in the conduct of business at the upper house of the National Assembly?” he asked.

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PERSPECTIVE

MIDWEEKPOLITICS

Balancing the Economy and the Anti-graft War In addressing the scourge of corruption, President Muhammadu Buhari must ensure that the economy too receives equal attention, reckons Magnus Onyibe

T

he most significant telltale of the economic meltdown in Nigeria is the drop in GDP from between 5-6% annually, a couple of years ago to an all-time low of 2.7%, according to the National Bureau of Statistics, NBS figures for 2015. A further downgrade to about 2.3% this year is being forecast, particularly if there is no upswing in international price of crude oil, which is very unlikely.

The global rating agency, Fitch has also affirmed NBS’s dismal growth outlook for Nigeria by downgrading Nigeria from BB- which is a negative forecast just as Standards and Poor, another acclaimed international rating agency, has also stepped down Nigeria to B+ which is also negative. Both Fitch and S&P risk ratings are three and four steps respectively below investments grade, which is a sad commentary on an economy which was one of the fastest growing in the world and the fastest in Africa only half a decade ago.

Not to be outdone by the global agencies reckoning that Nigeria’s economic future may be impaired, the International Monetary Fund (IMF) in a recent report – Article IV Consultation – which is an outcome of IMF Managing Director, Christine Lagarde and her team’s recent visits for consultations with Nigeria, avers that the “Nigerian economy is facing substantial challenges”.

The harm that negative risk ratings such as the ones listed above do to economies is to increase the cost of borrowing from sovereign wealth funds, hedge funds and portfolio equity funds abroad. Unsurprisingly, all the aforementioned dismal economic outlooks are being attributed to the sudden drop in crude oil price, which traded at over $100 between 2012 and 2014 but suddenly dropped by about 70% to between $30 and 40 since late 2015.

However, the injurious impact of the crash in oil price does not tell the whole story about the distress in the Nigerian economy because the reality is that President Muhammadu Buhari’s fight against corruption has also, perhaps unintentionally, exacerbated the instability in the polity to the extent that the political tension is now having a contagion effect on the economy and as such it is taking an unintended toll.

The assertion above is premised on the fact that while new investment initiatives are not being taken, owing to the tough fiscal and monetary measures arising from the anti-corruption war, existing businesses are grinding to a halt, due to the hiatus engendered by the uncertainties and disarray in the economy.

There are three significant and overlapping anti-corruption initiatives of government that have become the triggers for the current economic doom and gloom, manifesting in Nigerian streets and cities as fuel queues, high cost of living and massive unemployment amongst the youths.

The first is the so called Dasukigate – $2.1b arms funds, allegedly converted into campaign slush funds and the ripple effect.

The probe has sent jitters down the spines of both genuine and fraudulent businessmen and women engaged in defence and security sectors of the economy, such that even the non-guilty are afraid. That’s unsurprising because over three hundred (300) companies that did business with the Office of the National Security Adviser, ONSA are being investigated by the dreaded Economic And Financial Crimes Commission (EFCC)-led by the fearsome Ibrahim Magu.

With such huge number of companies under scrutiny, the apprehension and uncertainty engendered have become contagious to the extent that others are now afraid to continue to do business, so they are adopting a wait-and-see attitude. The proposed one day workers’ strike action by the Nigeria Labour Congress (NLC) to forcefully bring the plight of workers bearing the excruciating pains of a collapsing economy to the attention of government is a testimony to the fact that the Nigerian situation is degenerating into a potential labour crisis and it is a result of the absence of defined fiscal policies.

Secondly, apart from security focused companies involved with ONSA that are being quizzed, oil/gas companies have also been under the

gaze of anti-graft agencies.

With the corruption ridden crude oil for refined products swap contract reviewed by the new Minister of State for Petroleum Resources, Ibe Kachikwu and a new list of crude oil lifting firms drawn up, as well as a new template for importation of refined petroleum products replacing the former procedure, there is bound to be disruptions and the resultant consequence is the fuel queues on the streets.

This, perhaps, explains why Kachikwu, who also doubles as the Group Managing Director of Nigerian National Petroleum Corporation (NNPC), told Nigerians that he was not a magician, who could wave a wand so that the embarrassing fuel queues would disappear overnight. The straight talking Kachikwu’s narrative didn’t resonate well in the political circles, so he got lambasted by APC leader, Bola Tinubu for not being politically correct.

Even though it should be clear to everybody that the fuel queues won’t go away till the month of May, when the new imports are expected to arrive as importers only just received allocation of foreign exchange, politicians and activists would rather Kachikwu apologised to Nigerians instead of telling the truth.

We do not need a soothsayer to inform us that the disruptive petroleum sector probes were bound to have consequences and barring plans to mitigate such fallouts like government having strategic reserves of fuel in different locations nationwide – the current fuel shortages were inevitable.

The simple truth is that companies (downstream and upstream) accused of short-changing Nigerians through shady oil swap and opaque production sharing contracts, have been returning their loots and in the process, their treasuries have been running dry such that they are unable to sustain their operations like before. The net result is the downward scaling or complete shutdown of some of the oil companies, thereby further compounding the already dire unemployment situation in our country.

Same situation applies to importers and marketers of refined petroleum products, who were unable to continue with the trade as they found it difficult to service their existing bank loans which were due to unpaid or delayed settlement of fuel subsidy charges by NNPC. This is in addition to the fact that without the approval of budget 2016, fuel importers were also wary of whether or not government’s position on the controversial fuel subsidy would remain the same or change.

Until International Oil Companies (IOCs), through an arrangement brokered by Kachikwu decided to support fuel importation by making two hundred million dollars ($200m) available to independent importers, the CBN was unable, due to paucity of funds, to continue to single-handedly fund new imports of fuel. With no fresh imports from independent marketers except the meager supply by NNPC, the pumps dried up prompting the current supply crisis.

The injurious impact of the crash in oil price does not tell the whole story about the distress in the Nigerian economy because the reality is that President Muhammadu Buhari’s fight against corruption has also, perhaps unintentionally, exacerbated the instability in the polity to the extent that the political tension is now having a contagion effect on the economy and as such it is taking an unintended toll

Buhari...imperative of striking a balance

Similarly, local banks which are the erstwhile providers of funds for fuel importation are having hard time obtaining new credit lines from their counterpart banks abroad, especially as international rating agencies like Fitch, S&P etc, earlier mentioned, are rendering negative prognosis of Nigerian economy, signaling distress.

Thirdly, in addition to the unsavory outcome and ripple effect of Dasukigate, the delay in passing the 2016 appropriation bill, the debilitating outcome of the probe of the oil sector, and lack of fiscal policy blueprint, another policy that has had negative effect on the economy is the mopping up government’s idle funds hitherto kept in commercial banks by ministries, departments and agencies (MDAs), through an initiative referred to as Treasury Single Account (TSA).

The policy has resulted in the transfer of three (3) trillion naira into the vaults of the central bank of Nigeria (CBN). Oddly enough, considering the universally acknowledged economic principle of every active one dollar generating about 40 cents, it does not bode well that a whooping N3 trillion TSA fund is now sterilised in CBN vaults.

To be fair, finance minister, Kemi Adeosun has said the TSA fund is being planned to be used to finance about fifty per cent (50%) of this year’s budget estimated at N6.06t which the National Assembly has just approved and awaiting presidential assent. However, the N350b which she promised would be immediately plowed back into the economy to mitigate the negative effect of TSA policy has remained in abeyance several months after the commencement of the policy/initiative.

While Sterilising about N3t in CBN may not be an optimal economic management strategy, going by the humongous amounts of looted funds said to have been traced to the USA and Dubai, President Buhari’s government, in my estimation, may have the enviable record of recovering the largest amount of money stolen by public servants since independence.

Following the emergence of the current regime roughly a year ago and the zestful implementation of her zero tolerance for corruption as evidenced by her relentless pursuit of treasury looters, lots of stolen fund have been recovered and leakages have also been plugged. In the light of the foregoing, I won’t be surprised if indeed President Buhari declares another three trillion naira as recovered loot, including the much talked about General Sanni Abacha’s heist, which some countries, particularly Switzerland have been returning.

It may be recalled that due to public pres-

sure by most telephone callers during the last presidential chat on broadcast media, the president had promised to make public, the amount of money recovered at the appropriate time. If peradventure the president declares another three trillion naira as recovered loot, would that not be a hat trick and a master stroke by Buhari, whom most Nigerians have been deriding for not keeping most of his campaign promises and for perpetually being on overseas trips?

Imagine the situation whereby the TSA funds and loot recovered from corrupt Nigerians by anti-graft agencies are consolidated to form a lump sum of N6t- TSA N3t + N3t loots = N6t.

The hefty N6t would be just N600 billion less than Nigeria’s 2016 budget of N6.06t.

The scenario above may appear fantastic and far-fetched but going by the huge figures that were bandied as having been tracked and trapped by the authorities in the USA and Dubai after President Buhari’s recent visits to those countries on loot recovery missions, along with a retinue of governors and top government officials, it would not surprise me if N3t is actually declared as having been recovered.

Should that be the case, Nigeria would not need external borrowing of about $4.5b dollars as envisaged by pundits and the speculations that China would avail Nigeria $2b loan during the current visit by President Buhari to that country would also be a lie.

Fiery lawyer and activist, Femi Falana had for instance, threatened to sue the federal government should she borrow to fund the 2016 budget based on the belief that government should instead of borrowing, seek to recover the 200 billion dollars he believes was looted in the past few years.

He specifically mentioned unremitted funds in excess of 20 billion dollars that he alleges are outstanding payments from oil companies to the federation account, based on various investigative and audit reports, particularly the one carried out by Nigeria Extractive Industry Transparency Initiative (NEITI).

Skeptics may argue that if the recovered or about to be recovered loot was anything significant, budget and planning minister, Udoma Udo Udoma, would have factored it into the 2016 appropriation bill, but the counter-argument to that is that for obvious reasons, apart from President Buhari, only the EFCC chairman, Magu, CBN governor, Godwin Emefiele and Minister of Justice and Attorney General of the Federation, Abubakar Malami may be privy to the sum of money so far recovered.

NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

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FEATURES

Acting Features Editor Charles Ajunwa Email charles.ajunwa@thisdaylive.com

The Quest for Safer Seas

Chiemelie Ezeobi who was onboard Nigerian Navy Ship OKPABANA for nine days, writes on the quest for safer seas

FOC, Eastern Naval Command, Rear Admiral Atiku Abdulkadir (5th left); the CO NNS OKPABANA, Captain Olusegun Ferreira (6th left), the OTC, Commodore AMO Sunmola (7th left); and others at the kick-off of the exercise

I

t was 10:37am on a certain Sunday.

The sky was bright and the weather clement. At sea it was no different. It was miles and miles of endless blue water. The serenity was unrivaled. At sea, it was a life of its own as vessels sailed to their destinations unhindered. One of the vessels at sea between Opobo and Oron waters on that certain day was Nigerian Navy Ship (NNS) OKPABANA. Deployed to maintain safety at sea, the vessel with its 150 ratings and 30 officers were patrolling the waters from Onne waters to the Gulf of Guinea (GOG) for the Operation 2016 Obangame Saharan Express.

Still basking in the euphoria of the recent high profile recovery of a hijacked oil tanker and its 16-man crew and arresting seven pirates, the Nigerian Navy (NN), kick started Operation Obangame Saharan Express 2016, an international annual exercise, on a high note. The exercise, which was started in 2010, is a joint maritime interdiction and interoperability venture between the NN and navies of other countries.

Apparently, it was not an exercise in futility as the patrol yielded results that day. Although simulated, the vessel had apparently received a distress call from Motor Tanker (MT) Centenary.

The vessel was under pirates attack and radioed for help. It was just a simulation of the real life situation when the same NNS OKPABANA rescued a 16-man crew of Merchant Vessel (MV) Maximus and arrested six of the pirates and another possible accomplice weeks ago at the coat of Sao Tome.

In this instance, it happened that at about 20 minutes after the observer from the Defence Headquarters, Air Vice Marshal SM Kudu landed NNS OKPABANA using the Nigerian Navy Helicopter 09 that morning, MT Centenary radioed at about 10.37am. At about 11am, they radioed back that the pirates had taken over the bridge (the control room) of the ship.

The next time contact was made from the distressed ship was done by the pirates who radioed at about 11.01am to threaten to kill all the crew members onboard. At about 11.05am, the Commanding Officer (CO) of NNS OKPABANA, Captain Olusegun Ferreira summoned the Special Boat Services (SBS), the

navy's equivalent of the U.S. Seals, commander and briefed him with specific instructions to rescue the ship's crew. After mustering its men to both the starboard (right) and port (left) boat decks, the team left at exactly 11.26am.

This time, they had aerial protection from the NN Augusta 09 helicopter flown by Commander Adewale Odejobi and Lieutenant Commander Samuel, alongside Lieutenant Commander Abubakar Maigado, because it was an opposed boarding, meaning that the pirates had resisted attempts for the naval personnel to board. To reinforce their resistance, they fired off warning shots, which made the personnel withdraw and then reinforce back.

Their persistence paid off and they boarded even though the enemy ship did not release the Jacob's ladder for them to climb. In the scenario, there was also casualty evacuation done by the elements of the Special Boat Services (SBS).

About Obangame Sub-Saharan Express Since Nigeria relies heavily on the sea for commerce and international trade like any other maritime nation, the 2016 Exercise Obangame Sub-Saharan Express was timely and quite germane given the need to jointly tackle the security challenges of piracy, poaching, smuggling, oil theft, trafficking and other

It is important for all African nations to realise that that Africa is a maritime continent where all your trade and the sea is our international commuting source.

Uniform standard of security is the very essence of this exercise

transnational crimes. Thus, the exercise entailed interoperability and creating a maritime domain awareness, as part of a multinational training organised by America and African Partnership Station (APS).

The exercise is a maritime interdiction based on simulated scenarios of the most prevalent transnational crimes at sea, also designed to improve cooperation among participating nations for the benefit of the GOG. Bearing that in mind, the 2016 engineered partnership and synergy was not just between 32 countries but between appropriate agencies, who all gathered for the exercise.

Its core objectives was geared towards improving the maritime domain awareness capability of concerned nations, enhancing the maritime interdiction capabilities of maritime forces and inculcating the spirit of interagency and sub-regional cooperations amongst maritime forces and concerned countries. This is because the insecurity in the Gulf of Guinea, has led to the loss of billions of dollars by countries within the coast of West Africa, particularly countries like Nigeria which relies on sea for commerce and international trade.

Thus, it gives cause for concern when such huge resources and potentials in the Gulf of Guinea are being undermined by multifaceted domestic, regional and international threats and vulnerabilities.

So collaborative opportunities like this seek to curb maritime illegalities, which is also in line with the Chief of Naval Staff's, vision of zero tolerance for maritime illegalities.

Started in 2010 as one of the four United Nations Naval-Forces Europe-Africa-facilitated regional exercises and focuses on increasing capabilities to deter piracy, illicit trafficking and other maritime threats. Over the years, it has gone from basic tactics to regional cooperation, with the core essence being to improve the capacity of the African navies to combat crime in order to allow economic activities at sea to flourish.

The exercise served as an aim to increase the collective ability of African, European, South American and United States maritime forces to work together in order to increase maritime security and sustain global commerce.

Furthermore, it was an avenue to buttress

the cliche that 'there is strength in numbers', as well as strengthened regional cooperation to help address challenges that no nation is capable of tackling alone.

Countries Involved Hosted in Cameroon for the second time, the participating countries included the navies of the United States of America (USA), the United Kingdom (UK), São Tomé and Principe, Spain, Turkey, Denmark, Portugal, Gabon, Congo, Central African Republic, Equatorial Guinea, Ivory Coast, Italy, Benin Republic, Angola, Brazil, France, Norway, Germany, Belgium, Netherlands, Espanyol, Ghana, Togo and Cote D'ivoire.

The Nigerian Contingent For the exercise, the naval contingent included the Flag Officer Commanding, Eastern Naval Command, Rear Admiral Atiku Abdulkadir; Officer-in-Tactical Command, Commodore AMO Sunmola; the Commanding Officer, NNS OKPABANA, Captain Olusegun Ferreira; his Executive Officer, Captain Abdulraman Mohammed; incoming Fleet Commander, ENC, Commodore Rasaq Babalola; ENC’s Chief Operations Officer (COO), Commodore Adebayo Ayinde; Naval Headquarters (NHQ) observer Captain Richard Shammah; as well as the Captain Suleiman Dahun, the information coordinator for the exercise and Lieutenant Commader Solomon Wadak, an observer.

For the deployment of fleet, the NN deployed three vessels, NNS THUNDER, OKPABANA and CENTENARY, with an NN Augusta helicopter, as well as elements of the Special Boat Services (SBS). While NNS PROSPERITY was deployed from the Western Naval Command, NNS OKPABANA was deployed were from Eastern Naval Command and NNS CENTENARY was deployed from Central Naval Command.

In the Beginning Before the exercise proper, there was a press briefing onboard NNS OKPABANA headed by the Flag Officer Commanding, Eastern Naval Command, Rear Admiral Atiku Abdulkadir, before the Nigerian contingent sailed to Duoala,

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FEATURES

Cameroon, through the Gulf of Guinea (GOG) waters.

While addressing newsmen onboard NNS OKPABANA, Rear Admiral Abdulkadir had said, "This exercise is aimed at bringing our partners to train as well as practice maritime interdiction and interoperability. This year's exercise was tagged Operation Obangame Saharan Express because the exercise area is from Morocco to the Mediterranean and then the Gulf of Guinea.

"The Chief of Naval Staff, Vice Admiral Ibas and the navy will continue to put more effort towards curbing the different crimes at sea. Also, the full compliments of Regional Maritime Awareness Capability (RMAC) and the Falcon Eye has been deployed too to support maritime interdiction while at sea."

At the briefing were the OTC Sunmola; CO NNS OKPABANA and THUNDER, Captains Olusegun Ferreira and Julius Nwagwu, respectively. Also present were the outgone and incumbent Command Operations Officer, Eastern Naval Command, Commodores Ime Ekpa and Rasaq Babalola, respectively, as well as the Captain Dahun.

Events at Sea After the take off at Onne Ports in Rivers State, the sea exercise began the next day as the vessel sailed through the GOG and for nine days patrolled Brass, Bonny and Opobo waters and exercises conducted were counter illicit trafficking, search and rescue, counter-piracy, energy security, as at-sea ship boarding and queries, air operations, communication drills, regional information sharing and anti-illegal fishing, as well as advanced medical training. Also, exercises featured were tactical maneuvering, vessel boarding search and seizure (VBSS).

And the last but not the least were the fire drills, which had all onboard the vessel practice fire simulations. During the drills, Marine Engineer Officer (MEO), Commander Joshua Dalong, said the exercises were routine.

He said. “We usually have drills and exercises whether at sea or alongside, so if there is a real life situation, we can tackle it."

Not left out was the Gunnex exercise where all including the journalists including THISDAY reporter, Chiemelie Ezeobi, shot the MI6 and the 50mm calibre.

In one of the days at sea, the Chief of Defence Staff (CDS), Air Chief Marshal Gabriel Olonishakin, was flown onboard the vessel by the navy helicopter. Represented by Air Vice Marshal Sahfiy Kudu, the CDS said the collaboration among regional maritime stakeholders will curb issues of piracy in the GOG. Afterwards, in an interview with journalists, the OTC and the CO, Commodore Deji Sunmola and Captain Olusegun Ferreira, said the exercise was to assess the capacity to conduct maritime operation within existing frameworks, as well as the operational capability to conduct maritime interdictions as well as law enforcement operations.

Stating that Nigeria has recorded enormous gains since its first participation in 2010, Sunmola said the exercise provided a forum to exercise ships and aircraft and enable the officers and men to train with other navies of the world. He said, “Security of the seas is important and impacts us all. The ability to govern the sea helps counter problems such as trafficking of people and illegal material, oil bunkering, drug trade, illegal fishing and piracy."

Also, Ferreira said the navy has been focusing on various operations aimed at combating the myriads of criminalities and illegal activities in the nation's maritime domain.

He also said the navy has an increased capacity to monitor and checkmate maritime crimes, especially crude oil theft, illegal bunkering, sea robbery and piracy.

Inter-Agency Cooperation This year, there was an inter-agency cooperation between the NN other agencies of government. Sent as observers, they include Inspector Samuel Agholor of the Nigerian Customs Service (NCS); Mr. Watchman Simon of Nigerian Maritime Safety Agency (NIMASA); Mr. Macaulay Olayinka of the Economic and Financial Crimes Commission (EFCC); Elisha Danjuma of the Nigeria Security and Civil Defence Corps (NSCDC).

On his experience Agholor, said it has

A medical evacuation by personnel of the Special Boat Services of the Nigerian Navy

Captain Suleiman Dahun (2nd left); Captain Abdulraman Mohammed (4th left); Marine Engineer Officer (5th left) Commander Joshua Dalong, and others after the fire drill onboard NNS OKPABANA

exposed him to the capabilities of the NN and the SBS especially and their ability to rescue hijacked vessels. He said with this inter-agency cooperation, there is no doubt that the marine unit of the customs will always communicate with the navy whenever there is distress.

On his own part, Olayinka of the EFCC said the trip gave him a better insight as to the human and material resources arresting a criminal vessel costs, adding the job of his agency is to prosecute vessels and suspects arrested by the navy. He said, "This exercise has further solidified the existing relationship between both agencies."

Danjuma of the NSCDC while commending the navy on their efforts to secure the nation's waterways, said the experience was an eye opener.

To a large extent, Exercise Obangame Express has been effective in terms of surveillance at sea in terms of crude oil theft and hijacking. We have been to the sea to see, access and analyse what they are doing and go after them accordingly.

Again, we have also seen an increase in our capacity in engaging vessels at sea

The Ambassador's Visit Nigeria’s High Commissioner in Cameroon, Ambassador Hadiza Mustapha, with her entourage vested NNS OKPABANA and she commended the Navy for its participation in the exercise. She said, “This is the second Obangame Express I have witnessed. It is always nice to see our ship in harbour of a foreign country flying our flag. The exercise itself is very important for our military, particularly the navy to show we have full control of our maritime domain. It is also a very good way of promoting maritime diplomacy.

So, we are very happy and proud to have NNS OKPABANA here" The Closing Ceremony At the closing ceremony held on Thursday, the United States Government through its United States African Command (USAFRICOM), charged all African navies to ensure there is no rogue activities at sea, especially in the waters bordering their respective nations.

In an interview with defence corps from different nations, the Deputy Commander, USAFRICOM Military Operations, Vice Admiral Michael Franken said, "I appreciate the regional navies that participated in this exercise in the last the seven years with USAFRICOM. It's an exercise with 32 different nations and international organisations. It was principally designed to enhance maritime security in the Gulf of Guinea, stretching almost a thousand miles up and down the coast.

"The numerous countries here are from four continents. It's the standard of international protocol for maritime security and to share information on best practices to enforce laws of maritime security on our territorial waters and Exclusive Economic Zones (EEZ).

"It is important for all African nations to realise that that Africa is a maritime continent where all your trade and the sea is our international commuting source. Uniform

standard of security is the very essence of this exercise. For the United States, we consider our self altruistic nation. We are a maritime nation, therefore, we all benefit from the secure maritime trade and from knowing what to expect with maritime trade in each nation.

"There can be no rogue activity at sea. We want to encourage that the GOG of nations.

We have seen this in the past, a continuous improvement of GOG nations and the various ministries within each country the best practices and the necessary tenets for good conduct.

"The United States is only here as an international partner, so what benefits the GOG benefits the U.S. and what benefits the U.S. benefits the farther nations of the Pacific Ocean to China and straits of Malaka and all trade international partners."

On the achievements he said, "We enacted the Yaounde Code of Conduct and this is a non-binding international agreement that the GOG nations have enacted to lay down the standards which each country is expected to follow. Information exchange and the rule of law, which is very important for all things maritime. No one likes international trade surprises."

Afterwards, the Flag Officer Commanding, Eastern Naval Command, Rear Admiral Atiku Abdulkadir, said, "Our benefit from this exercise is that in terms of training, we have developed our capacity. It also afforded us the opportunity to see our equipment and platforms have performed and operated alongside other countries and being effective in the provision of maritime security.

"To a large extent, Exercise Obangame Express has been effective in terms of surveillance at sea in terms of crude oil theft and hijacking. We have been to the sea to see, access and analyse what they are doing and go after them accordingly. Again, we have also seen an increase in our capacity in engaging vessels at sea."

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IMAGES

T H I S D AY • WEDNESDAY, APRIL 20, 2016

Photo Editor Abiodun Ajala Email abiodun.ajala@thisdaylive.com

L-R: Oforix of Umuofor Kingdom, Oguta LGA, Imo State, HRH Abdufatah Chimaeze Emetumah III; Osun State Governor, Mr. Rauf AregbAesola; and the Liaison Officer of Emetumah III in the South-west, Alhaji Khalifat Kamaldeen Atanda, during a courtesy visit to the governor in Osogbo...recently

L-R: Author of “If I Had a Wing”, Prof. Olufolabi Olumide; his wife, Folashade; and the Group Managing Director/CEO, Sterling Bank Plc, Mr. Yemi Adeola, during the book presentation to mark the 80th birthday of Prof Olumide, in Lagos...recently kola olasupo

Oba of Lagos, Oba Rilwan Akiolu (left), and Chairman, Lagos State NUJ, Mr. Deji Elumoye, during a visit by the State Working Committee (SWC) of the union to the oba at his palace in Lagos...recently Yomi Akinyele

L-R: Quality Assurance Manager/ISO Management, Dangote Sugar, Aderemi Adepoju; Head, Human Resources/Administration, Murtala Zubair; acting Group Managing Director, Mr. Abdullahi Sule; and Executive Director, Engineering/Operations, Maryoud El-sunni, during the presention of Dangote Sugar Food Safety Systems (FSSC 22000) certificate to the management of Dangote Sugar in Lagos...recently

L-R: Regional Programme Coordinator, Junior Achievement Nigeria, Mr. Adegbola Abiodun; Client Relationship Head, Standard Chartered Bank (SCB), Port Harcourt Region, Mrs. Ebiti Sam-Yudo; Principal, Rayfield Secondary School, Uyo, Mr. Udo Kufre; and Branch Manager, SCB, PH3, Mrs. Chibuzo Barth-Akaba, during the Financial Literacy Programme at Rayfield Secondary School in Uyo, Akwa Ibom State...recently

L-R: Group Head, Food, Beverages and Building Materials, First City Monument Bank (FCMB), Mrs. Ebunoluwa Eniola; Executive Director, Business Development of the bank, Mr. Adam Nuru; Managing Director of Nestle Nigeria Plc, Chief Dharnesh Gordhon; and Divisional Head, Corporate Banking, FCMB, Mrs. Folake Fajemisin, during the commissioning of Nestle Waters Factory at Abaji, Abuja...recently

L-R: Co-ordinator, God’s General Foundation (GGF), Mr. Steve Akuwajah; Co-ordinator, Shalom Community, Mr. Basii Obi; Chief Trainer/CEO, Purpose Enterpreneurship Skill Institute, Peter Okonkwo; Dr. Emeka Arinze;and G.G.F Patron, Hon. Donald Chukwujekwu, at a one day “Empowerment Summit 2016” jointly organised by Shalom Charity and G.G.F. at St. Mary’s Catholic Church, Ajegunle, Lagos...recently

President, Rotary Club of Omole-golden, Mr. Idowu Adeogun (right), with pupils of Iju Primary School 2, during the presentation of school bags to the pupils, at Iju Agege, Lagos....recently

T H I S D AY • WEDNESDAY, APRIL 20, 2016

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BUSINESSWORLD NIBOR PRIME 1-MONTH

R A T E S LOAN

4.4583% 9.1071%

3-MONTH 3-MONTH

A S

11.0102% 12.3790%

A T

NITTY 1-MONTH 2-MONTH 3-MONTH

Group Business Editor Chika Amanze-Nwachuku Email chika.amanzenwachukwu@thisdaylive.com 08033294157

A P R I L 6.9949% 7.2368% 8.0819%

1-MONTH 9-MONTH 12-MONTH

9 , 9.2061% 9.5872% 10.5042%

2 0 1 6

EXCHANGE RATE N197/1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes IMF Highlights Benefits of Reforms

COURTESY VISIT

Chief Executive Officer, Nigerian Stock Exchange (NSE), Mr. Oscar Onyema; Managing Director/CEO, Unity Bank Plc, Mrs. Tomi Somefun, Director, Unity Bank, Mr. Gboyega Asabia, when the management of NSE visited the bank in Lagos...recently

FG Urged to Develop Infrastructure Bonds for Pension Funds Investment Ebere Nwoji The federal government has been urged to develop attractive infrastructure bonds that will guarantee the safety of pension funds which investment experts and government have been eyeing for infrastructural development.

The Pension Fund Administrators (PFAs) said at present in the country, there is no attractive infrastructure bond that can guarantee the safety of pension funds if invested in infrastructural development.

The administrators, who

PENSION spoke at a media retreat organised in Lagos, said on the face of the dwindled income of government occasioned by fall in oil price, they are ready to assist the federal government to finance its infrastructural projects through the N5.3 trillion pension assets, They, however, said this will be possible if government develops attractive infrastructure bonds that will guarantee the safety of the funds.

They noted that pension operators are not running away from financing infrastructure,

stating that there is currently, no single infrastructure bond in the country.

Speaking on behalf of operators, the Chairman, Pension Funds Operators of Nigeria(PenOp), Mr. Eguarekhide Longe, said its members are ready to invest in infrastructure bonds whenever the government decides to float them to finance key developmental projects.

He promised that the pension fund managers are ready to engage with government to expand the economic space, even though, it is not their primary objective.

He added that, care must be taken not to invest pension funds in a project that will not regenerate returns, warning that “if pension fund is put in a project that does not regenerate return, the money would get lost and the project will not be delivered because it was not properly conceived.”

While debunking claims that PFAs don’t want to invest pension assets in infrastructure, he said the managers had requested the investment banking community to come out Continued on page 24

Report: 90% of Nigerians Hold Real Estate as Asset Class Obinna Chima Ninety per cent of property owners in Nigeria hold real estate as asset class because it offers stable income returns, partial protection against inflation, and good diversification strategy, a report has shown.

The pioneer edition of real estate vacancy factor index (VFIX), a report by the Financial Derivatives Company Limited obtained on Monday, described the real estate sector as enigmatic. The report covered Ikoyi, Victoria Island and Lekki neighborhoods. The base month for index was January 2015, just before the country’s general election. That was prior to the last exchange rate adjustment from N186 to N199/$.

According to the report, VFIX was up by 65 per cent from

ECONOMY the base month, meaning that vacant properties increased by 65 per cent in 15 months.

It noted that there is a strong correlation between real estate and investment, money laundering and public sector corruption.

Furthermore, the report stated that in spite of the supply glut in the state, the cost of rents are still high, adding that developers are funded mainly from family savings, pension assets and illicit Income It showed that in March 2016, VFIX for residential and commercial was 177 and 148, respectively, stating that both indices increased by 77 per cent and 48 per cent respectively compared to January 2015.

“There is anomaly of high supply and high rent.

Macroeconomic challenges drive increasing vacancy. In Lekki Phase 1, an office space in TBC building cost about N30,000 per square metre,” it added.

However, the report pointed out that in Africa, Lagos is not very expensive in dollar terms, disclosing that Cape Town is the continent’s most expensive property zone “$1 million can buy 1,250 square metres in Church gate and FF Towers of Victoria Island, but can only purchase 255 square metres in Cape Town, South Africa,” it stated.

“Real estate can be used as a hedge against inflation.

Increasing trend of the VFIX in tandem with unemployment rate, forex controls discouraging investors, poor

stock market returns affecting investor sentiment thereby reducing demand for office space and housing. VFIX will decline as economy improves as we should see decline in house prices,” it added.

A report by Credit Suisse had stated that the advantages of real estate, such as a low correlation to other financial assets and relatively high, stable income returns, have come into greater focus. The real asset character of real estate offers investors stability in the current environment, which is subject to a number of uncertainties.

Thus, it further stated that investors are drawn to those real estate segments that are largely capable of producing income.

Continued on page 24

Reforms to the structure of a country’s economy to make it more productive and boost long-term growth are among the toughest to achieve, given opposition from vested interests, the rise of populism, and competing views about which reforms to undertake, when, and how.

Structural reforms tackle the problems on the supply-side of an economy. Reforms to product markets aim to boost competition among firms, make it easier to start a business, and de-regulate industries like energy and transportation. Reforms to labour markets make it easier to hire and fire workers, and allow changes to unemployment benefits and employment taxes.

These were the words of the IMF’s managing director, Christine Lagarde while speaking in Frankfurt recent.

With low global growth, commodity prices falling, monetary policy losing steam, and few governments with ready cash to spend, many have to restructure often decades-old rules about how their economies operate to make them more productive.

Lagarde called for countries to move ahead with structural reforms sooner rather than later, as part of a three-pronged approach that includes fiscal and monetary policy measures.

“We need to combine structural reforms with the demand side, especially fiscal policy, to help offset the costs of supply-side reforms,” also the Deputy Managing Director of the IMF, Min Zhu said.In a seminar on the political challenges to structural reforms held during the IMF-World Bank Spring Meetings in Washington, D.C., panelists tackled the rigours of implementing tough reforms to create jobs and increase growth.

FXTM Expands to UK

International forex broker, ForexTime Limited (FXTM) has announced the opening of its fully operational division in the United Kingdom (UK). Located in London, the UK division, according to a statement is expected to offer retail and institutional clients’ access to its personalised products and services, superior trading terms and innovative technology.

CEO of ForexTime Limited, Olga Rybalkina said: “Having delivered strong results and stable growth since the founding of the company, the opening of our UK office is a natural step for FXTM. The UK office will provide a strategic position from which we will continue offering our clients in the UK and Europe secure and high quality products and services.

“This development underlines our commitment to the expansion of our global network, which has seen FXTM recognised internationally as a trusted and innovative broker. We now look forward to continuing our development in the UK and Europe, by capitalising on the benefits that come with having a base in a global financial hub like London.”

FXTM has identified London as an ideal location due its strategic position in Europe, rich trading history and highly skilled workforce.

As such, the office will play a key role in FXTM’s future plans to extend the number of instruments and services that it offers.

The ForexTime mobile app for on-the-go traders, the FXTM Pro account for high-end professionals, and recently launched FXTM Invest and Shares Account have been specifically designed to reflect the trading interests of UK and European investors.

Gentle Touch Now in Shoprite Onitsha Recare International, owners of Natures Gentle Touch, a personal style brand made from natural ingredients to provide hair and scalp care solutions, has announced that all its hair and scalp solution products are available at the recently opened Shoprite supermarket in Onitsha.

Speaking on the development, Recare Marketing Manager, Kunmi Balogun noted that “the availability of our products here will further increase access to all the range of Natures Gentle Touch hair and scalp treatment and maintenance products.

Our products are highly renowned for their proven ability to solve various hair challenges which include dry and itchy scalp, dandruff and sever hair breakage, some of which are as a result of bad hair practices.”

We aim to become competitive by improving on infrastructure especially in the area of electricity and ensuring that credit is made available to manufacturers at concessionary rates

CBN Governor Mr. Godwin Emefiele

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T H I S D AY • WEDNESDAY, APRIL 20, 2016

BUSINESSWORLD FG URGED TO DEVELOP INFRASTRUCTURE BONDS FOR PENSION FUNDS INVESTMENT with products that abide by the investment guidelines in Pension Act, which operators can finance, noting that this has not been done.

“The fact is that there are ample provisions in the investment guidelines that allow for investment in projects, so to say, infrastructure, private equities and real estates, bonds, among others. But what has happened is not that the money is idle in the PFAs or that the fund managers have not looked for those projects. It is not their jobs to go and create projects, but we have actively sort the investment banking community to develop products that we can invest in,” he pointed out.

Earlier, Head, Investments, Pensions Alliance Limited(PAL), Mrs. Abimbola Sulaiman, said lack of investment options , bankable projects, transparency; shortage of data as well as high risk related greenfield investment among others, are challenges limiting investment of pension funds especially in infrastructure REPORT: 90% OF NIGERIANS HOLD REAL ESTATE AS ASSET CLASS “In an international setting, this mainly includes investments in office and retail space. However, rental apartments, logistics properties, senior housing, or hotels are also in consideration. We believe that as a strategic asset class, real estate belongs in the investment portfolios of institutional and private investors.

“Generally, real estate accounts for 5–30 per cent of most investment portfolios.

However, the strategic share of a real estate portfolio also depends on the investor›s individual situation and can be fine-tuned in respect thereof. While most investors still have a major home bias in their real estate portfolios, the trend toward a heavier international focus has been on the rise for some years,” it added.

Group Business Editor

Chika Amanze-Nwachuku Maritime Editor

John Iwori

AgriBusiness/Industry Editor

Crusoe Osagie

Comms/e-Business Editor

Emma Okonji

Capital Market Editor

Goddy Egene

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

Chinedu Eze (Aviation) Linda Eroke (Labour) Eromosele Abiodun (Cap Mkt) Ejiofor Alike (Energy) James Emejo (Nation’s Capital) Obinna Chima (Money Mkt) Reporters

Nume Ekeghe (Money Market) Nosa Alekhuogie (AgricBusiness)

NEWS

FGN Bonds Attract High Patronage as Investors Return to Market Eromosele Abiodun After the initial apathy that trailed the Nigerian bond market following the decision by JP Morgan to remove Nigeria from its Emerging Market Government Bond Index (GBI-EM) last year, the market has since the beginning of the year witnessed improved patronage as investors return to the market.

On September 8th 2015, the United States-based lender, JP Morgan, said Nigeria would be phased out of its GBI-EM by the end of October last year due to alleged lack of liquidity and transparency in the nation’s foreign exchange market.

The announcement came after JP Morgan earlier in January, 2015, placed Nigeria on a negative index watch on its Government Bond Market Index.

The Debt Management Office (DMO) in its monthly auction of FGN bonds last week comfortably raised its sales target of N100 billion ($510 million) from the reopening of three debt issues.

However, the total bid of N207 billion fell short of the previous month’s N262 billion yet provided more than adequate cover for sales.

Analysis of the activity showed that the marginal rate (effective cut-off point) was about 60bps higher than in March for the same three bonds, and rose above 13.00

per cent for the benchmark long bond (Mar ’36).

Analysts believe that the dire inflation numbers for last month may have pushed up the range of bids.

Also, the DMO raised a further N70 billion from the sale of Jan ‘26s on a non-competitive basis to an unnamed public body.

Commenting on the develop-

ment, analysts at FBN Quest insist the DMO is not selling from a position of strength.

“Net domestic debt issuance is set this year at about N950 billion and holders of the Aug ‘16s have to be paid a further N560 billion on maturity. The DMO’s provisional issuance calendar for Q2 2016 has sales of up to N120 billion in both May and June. Together with

rising inflation, this would normally point to a widening of yields.

“We note reports this week from Nigerian sources of $6 billion infrastructure financing from China. The same sources also suggested that the funds would be available on the identification of suitable projects.

As ever, we are waiting for more detail. The important

point is that, the more the authorities can raise quickly from China and other external concessional sources, the less high-cost domestic debt they have to issue, “they said.

Nigeria was included in the JP Morgan Emerging Market Government Bond Index in 2012, based on the existence of an active domestic market for FGN bonds.

EMPOWERING SHAREHOLDERS

L-R: Partner, Deloitte Nigeria, Hassan Lawal; Audit Leader, Mr. Augustine Nkwume; General Secretary, Independent Shareholders Association of Nigeria (ISAN) ,Mr. Adebayo Adeleke, and Partner, Business Process and Accounting Services, Mr. Oduware Uwadiae at a forum for ISAN in Lagos...recently

AXA Mansard Investments Invest N800m in Maryland Mall Goddy Egene Leading asset manager, AXA Mansard Investments, has concluded an N800 million investment in Maryland Mall, an ultra-modern retail development sponsored by Purple Capital Partners Limited.

The Maryland Mall is estimated to be worth over N5 billion (about $25 million) upon completion, later this year.

Maryland Mall sits on one of the most important arterial routes in Lagos, with 5,000 cars passing through every hour.

The mall sits on a total land size of 7,700sqm and will have the first dedicated underground

car park within any mall in Nigeria. It will play host to a mix of local and international brands anchored by Shoprite, Genesis Deluxe Cinemas and The Place restaurant.

The deal, which consists of a mix of debt and convertible debt stock, reinforces the country’s ranking as a top destination for retail investments in Africa, driven by its population size, rapid urbanization, growth and economic resilience.

Commenting on the investment, Chief Executive Officer of AXA Mansard Investments Limited, Mr. Deji TundeAnjous, said: “This investment reflects our commitment to

supporting creative home grown opportunities and businesses as key catalysts for economic development as well as our resolve to keep our clients well positioned in an evolving investment landscape.”

Speaking the same vein, Co-managing Partner of Purple Capital Partners Limited, Mr. Obinna Onunkwo said: “We are particularly delighted to be partnering with AXA Mansard on this journey into the future of retail in Africa’s largest economy. This transaction represents much more than a cash injection in the project, it is an expression of the trust

reposed in the project and its importance in the evolving retail landscape.”

Also commenting on the investment, Co-managing Partner of Purple Capital Partners Ltd, Mr. Olaide Agboola, said: “Notwithstanding the challenging economic climate, Nigeria remains an investor’s haven, and this strategic transaction with AXA Mansard is clear evidence that it is possible to structure sound investments that can impact different sectors of the economy.”

“It also confirms the efficacy of our investor and stakeholder relations, effectively incorporating the

demands and privileges of key stakeholders in the financial services industry, land owners, the Lagos State Government and relevant federal institutions and authorities.”

Lagos is expected to lead the national count for malls over the next decade, in tandem with the city’s fast growing population, currently put at anywhere between 17 and 20 million people. Projected by the United Nations to be the ninth largest city in the world by 2030, the city and its suburbs is now home to a fast growing middle class. Ultimately, their lifestyle choices will fuel the demand for modern goods and services.

Nigeria, France to Sign Agreement on N11.15bn Power Training Facility Chineme Okafor in Abuja Nigeria and the government of France will in May sign a €50 million (N11.15 billion) loan for the development and upgrade of power training facilities in the country, the Director-General of the National Power Training Institute of Nigeria (NAPTIN), Mr. Reuben Okeke has disclosed.

Okeke, who spoke in Abuja on Monday, noted that President Muhammadu Buhari is expected to sign the agreement for the deployment of the training loan on behalf of the country, while the President of France,

Mr. François Hollande will sign for his country.

He stated this when NAPTIN graduated 142 power engineers under its Graduate Skills Development Programme (GSDP) programme. The graduate engineers comprise of 48 distribution, 58 generation and 36 transmission engineers.

The loan, Okeke explained, would be deployed to upgrade the training jobs of NAPTIN in the country’s power sector.

“By next month, the President of Federal Republic of Nigeria and that of France will be signing a loan agreement

to get NAPTIN completely transformed, up to a tune of €50m,” Okeke. .The NAPTIN head further stated that the fund would support the institute in its NGSDP programme. He explained that the programme would provide the necessary solution to the manpower shortage in technical aspects of the country’s power sector.

According to him,”Mindful of the fact that the success of the recent power sector reform will in part depend on the availability of a qualified workforce to meet the needs

of the industry and the corresponding need to structure its operations to reflect the needs of the private sector, NAPTIN is currently working with a leading international consulting outfit through funding support of the Agence Francaise de Developement (AFD) to evolve a new strategic plan.

“This plan does not only encompasses the training needs of the new private entrants, but also their participation in the delivery process.”

Okeke noted that with the assistance of AFD, the institute would become a hub for power

sector professional development particularly the West Coast of Africa and the continent.

He said 154 candidates enrolled for the NGSDP training in the 2014/2015 batch, adding: “Out of a total of 154 candidates that enrolled for the 2014/2015 batch, today, we are witnessing the graduation of a total of 142 engineers.”

Okeke also said the country needs about 17,440 technical staff including 6,000 engineers to maintain the 40,000 megawatts (MW) of power that the country plans to generate in the nearest future.

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T H I S D AY • WEDNESDAY, APRIL 20, 2016

BUSINESSWORLD

EQUITIES WATCH

UnileverFinallyTurnstheCorner

After posting a continuous decline in its bottom line, Unilever Nigeria Plc has recorded a growth in profit for the first quarter ended March 31, 2016, writes Goddy Egene Manufacturers of consumer goods in Nigeria have come under serous pressure in recent years due to the challenging operating environment. Apart from contending with rising cost of operations, the companies also face the problem of dwindling demand following the continuous reduction in disposable income of consumers. While many consumers cut down their demand for goods, other look for cheaper imported alternatives.

These factors have made many of the companies to record lower profit in the recent years.

Unilever Nigeria is one of the companies affected by the challenging operating environment.

The company recorded a profit after tax of N1.192 billion in 2015, showing a drop from about 51 per cent from N2.412 billion in 2014. Apart from the challenging environment, one of the factors that has depressed Unilever’s bottom line has been high financing costs. The company was paying heavily on bank borrowings to finance its operations. However, the company appears to have turned the corner going by its results for the first quarter ended March 31, 2016. The company recorded a growth of 76 per cent in PAT for the first quarter ended March 31, 2016.

Corporate background Unilever Nigeria Plc was established in 1923 as a soap manufacturing outfit. The company was initially known as Lever Brothers West Africa and was founded by Lord Leverhulme. It got quoted on the NSE in 1973.

After series of mergers/acquisitions, the company diversified into manufacturing and marketing of foods, non-soapy detergents and personal care products. These mergers/acquisitions brought in Lipton Nigeria Limited in 1985 and Cheesebrough Ponds Industries Limited in 1988. The name, Unilever Nigeria Plc, was adopted in 2001 to create global uniformity in the Unilever family.

The company has the Obi of Onitsha, Nnaemeka Achebe as chairman and Mr. Yaw Nsarkoh as managing director. Other directors are: Mrs. Abiola Alabi(non-executive director); Ammuna Lawan Ali(non-executive director) Mr. Atedo Peterside (non-executive director) Mr. Mutiu Sunmonu(non-executive director); Mr. James Todd(non-executive director); Mr. Ologbaraete Pinnick (executive director) Mrs. Adesola Sotande-Peters (executive director).

Shareholder of the company are held 58.49 per cent by Unilever Overseas Holdings , 5.13 per cent by Stanbic Nominees Nigeria Limited, while other Nigerian investors hold the 41.51 per cent.

Financial results After recording a decline in 2015, the company began 2016 with an improved performance there raising investors’ hopes for a bountiful harvest at the end of the financial year. The company recorded a revenue of N16.78 billion, up 12 per cent compared with N14.9 billion in the corresponding period of 2015. Gross profit stood at N6.03 billion, up from N5.06 billion in 2015.

Profit before tax (PBT) jumped by 64 per cent from N860 million to N1.42 billion, while profit after tax (PAT) witnessed a higher jump of 76 per cent from N590 million to N1.05 billion in 2016.

Gross margin improved by from 33.95 per cent in 2015 to 33.95 per cent in 2016, while EBIT margin stood at 11.37 per cent, up from 10.88 per cent in 2015. PBT margin improved from 5.80 per cent to 8.46 per cent, just as PAT margin rose to 6.21 per cent, from 3.96 per cent.

Return on average equity rose to 19.28 per cent from 15.40 per cent, while a return average asset improved to 3.29 per cent, from 2.49 per cent.

Analysts Comment Commenting on the results, analysts at Cordros Capital Limited, said performance positively surprised on all key line items. According to them, revenue grew by 12.6 per cent, operating profit rose by 17.6 per cent, finance charges eased by 33.3 per cent while PAT and PBT s climbed by 64.13 per cent and 76.4 per cent respectively.

“The double-digit revenue growth, driven by volume ramp up in the Food and Home Care categories, follows a similarly strong (+36.1 per cent) top line performance in Q4 of 2015.

Nsarkoh

Specifically, Food revenue (accounting for 51 per cent of sales revenue) grew by 23.1 per cent while Home Care revenue (accounting for 22.5 per cent of sales revenue) grew by 16.7 per cent.

We attribute the performance to the result of the company’s route-to-market efforts (especially in economy products) and improved security situation in the Northern region,” they said.

The analysts added that while cost of sales rose by 9.14 per cent, its impact was offset by a bigger increase in revenue, thus supporting gross profit to 19.2 per cent increase. Gross margin expanded by 200bps to c.36%, as the impact of strong volume growth on revenue more than negated forex induced cost pressure.

Though operating expenses increased by 18.2

per cent and there was no income from other sources (about N50.6 million was recorded in Q1-15), EBIT increased by 17.6 per cent. Impacting majorly on operating expenses(opex) was a 51.1 per cent increase in overheads (which accounts for 50 per cent of total opex).

“Boosting earnings to strong double-digit growth was a 33.3 per cent reduction in finance charges. We note the key drivers as being marked reduction in outstanding debt balances -- by 42 per cent and 19 per cent from end-2015 level and more accommodative commercial banks interest rates compared to Q1 of 2015.We also note the impact of a 509bps reduction in effective tax rate on earnings growth. This, we expect to normalise in subsequent quarters,” they said.

In their own comments, analysts at FBN Capital Limited noted that in addition to the strong sales growth, the PBT increase was also driven by a 200bp gross margin expansion to 36 per cent and a 36 per cent decline in net finance charges.

“We attribute the softer net finance charges to a 30 per cent decline in short term loans and borrowing over the January to March period.

These positives more than offset an 18 per cent increase in operating expenses. The PAT growth was stronger than that of PBT due to a lower tax rate of 26.6 per cent versus 31.7 per cent in Q1 2015.

On a sequential basis, sales and PAT were flattish q/q, while PBT declined by 10 per cent quarter on quarter (q/q). The PBT q/q regression was driven by a 148bp q/q gross margin contraction and a five q/q rise in opex – both of which more than offset a 30 per cent q/q decline in net finance costs. A -639bp q/q decline in the tax rate helped to limit the decline in PAT. As such, PAT was flattish q/q,” the FBN analysts said.

According to them, compared with their unrevised estimates(since better-than-expected Q4 2015 were published), sales came in 19 per cent ahead while PBT and PAT were significantly stronger.

“The wide variance was due to the better-thanexpected sales growth as well as net finance charges coming in 35 per cent softer than what we forecast.

Unilever management has not guided the market on their outlook for some time, hence the wide disparity between our forecasts (and consensus) and the actual reported figures. However, the company released a statement last month stating that it plans to source up to 90 per cent of its raw materials locally. It appears this strategy may have started paying off,” they said.

UNILEVER NIGERIA PLC FIRST QUARTER FINANCIAL SUMMARY

20 15

DEC 2015 N16.78bn

DEC 2014 N14.9bn

10

DEC 2015 N6.03bn

DEC 2014 N5.06bn

DEC 2015 N1.42bn

0

DEC 2014 N818mn

900 850

DEC 2014 N865mn

DEC 2015 N1.04bn

800 750 700

DEC 2014 N590mn

DEC 2015 N546mn

650 600 550 500 450 400 350 300 250 200

SEPT. 30, 2015 N11.9bn

150 100 50

REVENUE

GROSS PROFIT

FINANCE COSTS

PROFIT BEFORE TAX

PROFIT AFTER TAX

26

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ANALYSIS

Solid Minerals as Catalyst for National Devt Eromosele Abiodun writes that mining and export of Nigeria’s vast solid mineral deposits will have several multiplier effects on job creation, development of states, and social infrastructure Recently the Governor of Kaduna State, Mallam Nasir el-Rufai, revealed that the raw gold deposit in one local government of the state is larger than the entire mineral deposits in the Republic of South Africa.

The governor, who disclosed this at the opening of the Kaduna economic and investment forum enthused: “We have just confirmed that Kaduna State, indeed Birnin Gwari Local Government Area alone, has more gold than South Africa.

This is proven, this is verifiable. We have all the data and we are collaborating with the Federal Ministry of Solid Minerals.”

The governor said solid minerals alone could attract about N40 billion investments to the state, and urged investors to explore the opportunities in the state.

He said the new vision of his administration is to make Kaduna a state programmed for abundant investments, economic opportunities and prosperity.

The governor added that his government had put all mechanism in place to ensure peace and security, good governance, improved quality of lives, and social inclusion for the people and investors coming to do business.

He said discussions were ongoing with a large international mining company to come and explore gold reserves in state.

“We are focusing on mining and agriculture in creating jobs in this state. The mining company we are discussing with is going to take our local miners, train them and group them into cooperatives so that they would be like sub contractors to them and be able to work with them. We are working with the federal government very closely to ensure that this happens” he said.

El-Rufai said the government was also taking advantage of its abundant agricultural resources to woe investors, adding that Kaduna has the best ginger in the world and that N5 billion would be spent on ginger production in the state. He expressed the determination of his government to tackle the daunting development challenges that are facing the state.

A Nigerian Challenge As it is in Kaduna, so it is in every Nigerian state. From Abia to Zamfara states, solid minerals deposits abound, huge enough to make Nigeria one of the most prosperous nations on the face of the earth. Among the key mineral deposits in the country are topaz, tin, iron ore, columbite, limestone, gold, gypsum, kaolin, lead, zinc and bitumen. Latest numbers released by the National Bureau of Statistics (NBS) showed that the solid minerals sector contributes less than one per cent to Nigeria’s Gross Domestic Product (GDP) as against nine per cent of South Africa’s GDP in 2011. The domestic mining industry is underdeveloped, leading to Nigeria having to import minerals that could produce domestically, such as salt or iron ore.

Right to ownership of mineral resources is held by the Nigerian government, which grants titles to organisations to explore, mine, and sell mineral resources. Organised mining began in 1903 when the Mineral Survey of the Northern Protectorates was created by the British colonial government. A year later, the Mineral Survey of the Southern Protectorates was founded.

By the 1940s, Nigeria was a major producer of tin, columbite, and coal. The discovery of oil in 1956 hurt the mineral extraction industries, as government and industry both began to focus on this new resource. The Nigerian Civil War in the late 1960s led many expatriate mining experts to leave the country. Mining regulation is handled by the Ministry of Solid Minerals Development, which oversees the management of all mineral resources. Mining law is codified in the Federal Minerals and Mining Act of 1999. Historically, Nigeria’s mining industry was monopolised by stateowned public corporations. This led to a decline in productivity in almost all mineral industries.

The Obasanjo’s administration began a process of selling off government-owned corporations to private investors in 1999.

$75 billion (N11.3 Trillion) Amount India earns annually from solid minerals.

India is less endowed with solid minerals than Nigeria.

$30 billion (about N4.5 Trillion)

Is what South Africa earns annually from the sub-sector.

It took South Africa more than 15 years of steady investment to get there.

40 million tonnes

N5 Trillion

Identified Talc deposits in Nigeria.

Lead/Zinc veins, about 10 million tonnes of deposits spread over 8 states.

Amount Nigeria can generate annually from mining and exporting of its vast solid minerals.

Nigeria has about 42 billion tonnes of Bitumen deposits, twice the existing crude oil reserves.

N113 billion

Total revenue the sector contributed to the nation’s coffers in 5 years.

Iron ore with over 3 billion metric tonnes of deposits.

Gains of Privatisation Since the privatisation of government corporations and the investments that they have attracted, things are looking good for several of them. The solid mineral sector has also attracted massive investments. Although the statistics of the amount invested so far in the sector is not available, it is believed that things are beginning to get better.

For instance, the Nigeria Extractive Industries Transparency Initiative (NEITI) recently reported that the solid mineral sector contributed only N113 billion to the nation’s coffers in five years.

With the reality that the revenue from crude oil is no longer reliable for effective budget planning, analysts have continued to insist that Nigeria must diversify its economy by repositioning the solid mineral sector.

To this end, the Minister of Solid Minerals, Dr. Kayode Fayemi, emphasised the urgent need to revive the solid mineral sector to serve as a reliable revenue yielding alternative.

He observed that Canada, Australia and South Africa, among other countries, had explored such endowment to meet their economic needs.

He also said that the federal government recently approved the demand for states to be allowed to exploit mineral resources in their areas.

Fayemi said that states could link up with private investors to form partnerships to realise the objectives of the federal government in that regard.

Analysts believe that the initiative will open

avenues for royalties, add more companies to the tax net and create massive jobs.

Nigeria Can Generate N5trillion Annually Meanwhile, stakeholders in the industry have expressed the optimism that Nigeria can generate as much as N5 trillion annually from mining and exporting of its vast solid mineral deposits, with several multiplier effects on job creations, state development and social infrastructure that could make the solid minerals sector as the main catalyst for the national development.

At a press briefing in Lagos recently, the Association of Metal Exporters of Nigeria (AMEN) called on the federal government to provide the enabling environment for the development of the Nigerian solid minerals sector. Metallic solid minerals are the most exported solid minerals from Nigeria.

AMEN is the umbrella body of most active metal exporting firms in Nigeria and its members account for the largest share of foreign exchange income from solid minerals exports.

The association, which comprises various companies in the business of metal export, commended the focus of Fayemi, and expressed its readiness to partner the government in the development of the Nigerian solid minerals sector.

President of AMEN, Mr. Seun Olatunji, said there is need for synergy between government agencies and private operators to unlock the values in solid minerals sector.

He noted that with not less than 38 viable solid mineral deposits in sustainable export quantity in Nigeria, the solid minerals sector has the potential to generate not less than N5 trillion annually once the government put in place necessary frameworks.

He pointed out that the solid minerals industry could serve as the much-needed solution to unemployment as the development of the value chain from mining to export can create more than five million jobs.

“We are glad that the current government is serious about solid minerals and diversification of the economy. Government should come up with policies that will enable Nigerians to benefit optimally from the country natural resources,” Olatunji said.

According to him, there is need for government regulatory agencies such as Standards Organisation of Nigeria (SON) to work with established private sector companies under the auspices of AMEN to develop globally acceptable regulatory standards for Nigerian metallic exports.

Absence of Efficient Regulations He noted, however, that Nigeria has been losing considerable values due to the absence of efficient regulations and standards for metal exports.

“Our vision is to have a solid minerals industry Continued on page 27

Unarguably, the agricultural se

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%

ANALYSIS

OIL AND NON-OIL YEAR ON YEAR GROWTH RATES

%

15

MINING AND QUARRYING YEAR ON YEAR REAL GROWTH

10

10

5

5

0 0

-5 -5

-10 -10

-15

-15

-20

-20 Q1

Q2 2013

Q3

Q4

Q1

Q2

Q3

2014

Q4

Q1

Q2

Q3

Q4

2015

Q1

Q2 2013

Q3

Q4

Q1

Q2 2014

bly, the Nigerian

Q4

Q1

Q2

Q3

Q4

2015

consultation should include metal exporters and other practicing industry operators in order to drive the much desired growth in the sector.

“It is important not to ignore the quick gains which can be made by gathering the challenges militating against the export trade of Nigerian origin solid minerals in the international market today. Only the exporters can paint a true picture of these challenges, because they have to contend with both local and international parties in the course of the trade,” Olatunji said.

where all operators along the value chain are well compensated and where Nigeria can realize the full potential of its God-given natural resources,” Olatunji said.

Vice President, AMEN, Mr. Bamidele Ayemibo, underscored the need for government to consider viable public private partnership (PPP) option to develop basic infrastructure such as crushing plant and standardised weighing bay among others.

According to him, with a crushing plant, government should put in place a general policy that ensures that all metal exports are crushed and SON and other regulatory agencies should see to the enforcement of standards in the solid minerals exports in order to ensure that Nigerian exports are competitive in the global market.

General Secretary, of the association, Mrs. Kemi Ayo-Ogunkeye, added that standard-setting will bring values to Nigerian businesses and Nigeria as this will not only enhance the volume of transactions but also the reliability of the business.

She said the AMEN is willing to support government efforts in developing the solid minerals exports, noting that members of the association as established operators have the wherewithal to contribute meaningfully to the government’s efforts at developing the sector.

Speaking in the same vein, Financial Secretary of the association, Mr. Adegbola Ilori, said the association would also interface with the National Assembly to seek review of existing laws and to promote new laws that could help the development of the solid minerals industry.

He commended the policy initiative aimed at encouraging state governments to play actively in the development of solid minerals in their domains noting that such a policy could be a major solution to the cash crunch bedevilling many states and help to stop rural-urban drift.

Inclusive Consultation While commending Fayemi for his vision to develop a multi-level developmental blueprint for the Nigerian solid minerals industry, they urged the minister to include industry operators in the process of determining the future of the industry.

Fayemi had recently inaugurated a 17-man committee to develop a 24 month short-term plan, 10-year mid-term plan and 25-year long term plan for the solid minerals industry. The committee is chaired by Professor Ibrahim Garba co-chaired by Professor Siyan Malomo.

Olatunji, said the terms of reference of the committee, which included prioritization of activities, development of a consensus strategy for buy-in by all stakeholders in the industry and improvement of the sub-sectional activities along the minerals value chain, reflected a thoughtful directional leadership by the Minister.

He said while the minister has laudable idea and the commitment for the overall good of the industry, there is a need to engage industry operators with visible records of active operations such as members of the Association of Metal Exporters of Nigeria in fashioning a practicable and realistic blueprint for the industry.

According to him, while the minister has a good knowledge of a number of challenges affecting the rapid growth of the solid minerals sector, the industry consultation and engagement should be broadened to include key stakeholders like metal exporters.

“For a fact, AMEN has not been invited to any of the engagement talks by the ministry. Yet, we,

Q3

metal exporters, put several Nigerian-origin solid minerals on the foreign markets map including Lead ore, Zinc ore, Copper ore, Beryl ore, Manganese ore, Cassiterite, Zircon sand, with verifiable, valid NXP forms opened in compliance with Central Bank of Nigeria (CBN) monetary policies,” Olatunji said.

He noted that there is need for inclusion of those already achieving feat in the sector by generating export proceeds in order to achieve quick gains, pointing out that it would be counterproductive to neglect those with end-to-end knowledge on the conversion of the available base metals, minor metals and others into the much desired foreign exchange for the Nigerian economy as it stands today.

“Opportunity to contribute their quotas should be made accessible to those who have the practical know-how in selling Nigeria’s metallic minerals in exchange for forex. Let’s not shove aside these critical stakeholders; who account for over 80 per cent of the solid minerals export proceeds into the CBN coffers and by extension the commercial

deposit banks,” Olatunji said.

He pointed out that the metallic solid mineral exporters actually finance directly the artisanal miners spread across the geopolitical zones of the country as the deposit money banks will not finance any artisanal miner directly; therefore, the exporters take the risks; - obtain high interest rates loans from the commercial banks to give support to the artisanal miners through advance payment options for their products and working capital.

“It is known for a fact that the export proceeds data captured by CBN from sales of mostly metallic solid minerals of Nigerian origin were achieved as a result of the activities of the various exporters in conjunction with the artisanal miners cutting across the various mineralised states in Nigeria,” Olatunji said.He said while the industry consultation must necessarily include government agencies affiliated to the ministry of solid minerals, the academia, other consultants and the miners association of Nigeria, which seemed so far to have the attention of the Minister towards policy formulation, the

A New Dawn In what can be described as a new dawn for the sector, the ministerial committee set up a month ago to chart a course has submitted its final findings to Fayemi last week.

The Roadmap committee under the Chairmanship of Prof. Ibrahim Garba and 14 other eminent Nigerians was inaugurated on March 1 to formulate a course that will stimulate the rapid growth of the sector.Receiving the deliberations, conclusions and recommendations of the committee in Abuja, Fayemi, said: “This event marks a significant milestone in the development of the mining and minerals and metals sector, with the submission of the mining and metals roadmap by the committee which we set up about four weeks ago.”

According to him, “I am impressed with the quick turnaround by the committee in concluding this assignment. You will recall that the roadmap committee was inaugurated a month ago to formulate a course that will stimulate the rapid growth of the sector.

“The mining industry is a key area of focus of the current administration, and it excites me that we are already charting the path for sustainable growth in the sector, with the involvement of representations from the spectrum of stakeholders within the sector.”

Speaking further, Fayemi said: “We have tried at the time of setting up this committee to ensure all stakeholders are appropriately represented. I am aware that the committee has consulted far and wide. This is quite encouraging. It is obvious that we are ready as a nation to embark on this journey of sustainable development for the Nigerian mining and metals sector.”

He hinted that the roadmap shall be reviewed, subjected to other stakeholders review in the coming days, “so that we can ensure an air tight document that can withstand the test of time.

The roadmap committee shall continue to see us through this process and we will continue to work with them to ensure the buy-in of all relevant stakeholders were captured.

“At the end, we want to ensure this is a national document that is supported across board, and outlives any administration. The journey for sustainability for the sector has to be a continuous one,” he said.

In his comments, Garba disclosed that the roadmap became important “due to the time we are in.”

According to him,“when other roadmaps were made, Nigeria was still flowing in oil money.

So, whatever this sector was going to contribute as at the time may not be too significant. But, today, we wake up to the reality that whatever this sector will contribute will be very important.

He said: “Governors must cooperate with the federal government to avoid unnecessary lacuna that will scare away foreign investors. They must not be overbearing on the use of their lands.”

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ANALYSIS

Budget of Controversy Obinna Chima examines the recent controversy surrounding the 2016 Appropriation Bill

National Assembly Complex

With exactly 254 days to the end of 2016, it is worrisome that the budget, which is supposed to define government spending in this financial year, has not been signed into law. The delayed budget, which is expected to be the first under the present administration, has been a subject of controversy since its submission by the executive to the National Assembly.

As a result of this, members of the public have continued to express anger over the situation.

To them, despite the ‘change’ promised by this government, frequent delayed budgeting process, which has been the trend since 1999, appears difficult to tackle.

For the 2016 appropriation bill, it was discovered that ‘padding’ is a major factor responsible for the delay.

According to a report by CSL Stockbrokers Limited, emerging economies sometimes make contributions to financial slang, saying that with budget ‘padding,’ Nigeria has now made its own contribution.

They described ‘padding’ as the process whereby one person devises a budget, hands it to a second person for review who then adds items for his own benefit. The second person also removes some items to make way for his additions, so that the total budget remains the same.

Padding is probably much more complicated than this, because in practice it requires many people to cooperate on what will be added and removed from a budget, and the key headings must be kept unchanged. The final stage is to hand back the reviewed budget, with the totals unchanged, and to have it signed.

The controversy over Nigeria’s 2016 budget stems from which version was being submitted to which entity at any given time, and whether changes had been made along the way.

Specifically, after going through the details of

the appropriation bill that that was passed by the National Assembly, President Muhammadu Buhari returned the document of the proposed spending estimates, saying that the Calabar-Lagos rail project was left out. Since then, the blame game has continued with both arms of government blaming each other for the removal of the item.

The Controversial Item The president, in December, last year laid the 2016 appropriation bill before a joint session of the National Assembly. The N6.07 trillion proposed budget gave a lot of Nigerians hope that, if speedily

Source: Yourbudgit.com, CSL Research

signed into law, would help revive the economy.

It estimated that 30 per cent of the budget would be used for capital budget. However, the Calabar-Lagos railway project was not included.

Also, the lawmakers at some point alleged that the appropriation bill was riddled with errors, omissions and padding, which according to them, led to the delay in passing the budget.

With the delay some members of the executive then decided to include the Calabar-Lagos rail project by presenting a supplementary budget

to a Senate Committee, without the express approval of the president. Therefore, acting in accordance with the powers vested in the National Assembly by the 1999 Constitution on the power of appropriation, the two committees were said to have left out the Calabar-Lagos rail project from the 2016 budget.

The Senate, in a statement by Chairman, Senate Committee on Media and Public Affairs, Senator Aliyu Sabi Abdullahi, had said the executive lacked the moral high ground to sustain its persistent attacks against the National Assembly in view of the flaws which characterised the 2016 budget.

According to him, the National Assembly had to bend over backwards to produce a meaningful document out of the excessively flawed and chaotic versions of the budget proposals submitted to it by the president.

The Senate also accused the presidency of gross incompetence in the preparation of the budget, adding that the document was highly embarrassing and characterised by errors, omissions and inconsistencies, which it said the National Assembly helped it to clean up.

The parliament took exception to what it described as the unwarranted attitude of the presidency to set the public against the National Assembly, stressing that the power of appropriation rests with it.

The Senate also took a swipe at the Minister of Transportation, Mr. Chibuike Amaechi, whom it accused of orchestrating the allegations with respect to the alleged removal of the Calabar-Lagos rail project from the budget.

The statement added: “While the executive is mandated to prepare and lay before the National Assembly a proposed budget detailing projects to be executed, it should be made clear that the Continued on page 29

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ANALYSIS

BUDGET OF CONTROVERSY

Saraki

responsibility and power of appropriation lies with the National Assembly.

“If the presidency expects us to return the budget proposal to them without any adjustments, then some people must be living in a different era and probably have not come to terms with democracy.

“We make bold to say, however, that the said Lagos-Calabar rail project was not included in the budget proposal presented to the National Assembly by President Buhari and we challenge anyone who has any evidence to the contrary to present such to Nigerians.

“Since the beginning of the 2016 budget process, it is clear that the National Assembly has suffered all manners of falsehood, deliberate distortion of facts, and outright blackmail deliberately aimed at poisoning the minds of the people against the institution of the National Assembly.

“We have endured this with equanimity in the overall interest of Nigerians. Even when the original submission was surreptitiously swapped and we ended up having two versions of the budget, which was almost incomprehensible and heavily padded in a manner that betrays lack of coordination and gross incompetence, we refused to play to the gallery and instead helped the executive to manage the hugely embarrassing situation it had brought upon itself. But enough is enough.”

Also, the Chairman, House of Representatives Committee on Media and Public Affairs, Hon. Abdulrazak Namdas explained that the lawmakers could not have worked on any document brought before them for appropriation by any person other than the president.

He, however, clarified that the president could send a list of items he wants in the budget, even without its assent, to the lawmakers.

“Let’s be clear, we do not receive budgets from ministers… it is on record that some people lost their jobs as a result the budget, the executive itself admitted some bureaucrats padded the budget,” he said.

“We are ready to work with the president, and so far there is nothing to suggest that Mr. President has refused to sign, but when it comes, we would take care of it.”

The Chairman of the House Committee on Appropriation, Hon. Jibrin Abdulmumim, had also insisted that the project was not included in the 2016 budget laid before the legislature by the president.

But the Chairman on the Senate Committee on

President Buhari

Land Transport, Senator Gbenga Ashafa confirmed that Amaechi did inform the committee of the omission of the Lagos-Calabar rail project and sent a supplementary copy of the ministry’s budget to the committee, which contained the said project.

Senator Ashafa also confirmed that Amaechi did inform the committee of the omission of the Lagos-Calabar rail project and the omission was subsequently corrected.

“I confirm that the Lagos-Calabar rail line was not in the original document that was presented to the National Assembly by the executive. However, subsequently, during the budget defence session before the Senate Committee on Land Transport, the Minister for Transportation, Amaechi, did inform the committee of the omission of the Lagos-Calabar rail project and indeed sent a supplementary copy of the ministry’s budget to the committee which contained the said project,” the Senator added.

The senator noted that the minister had said during the defence of the budget that the amount needed for the counterpart funding for both the Lagos to Kano and Lagos to Calabar rail modernisation projects was in the sum of N120 billion, being N60 billion per project.

Senator Ashafa said while the committee did not completely agree with all the changes made in the subsequent document, being fully aware of the critical importance of the rail sector to the development of the country, members of the Senate Committee on Land Transport keyed into the laudable (Lagos-Calabar rail modernisation) project and found ways of appropriating funds for the project without exceeding the envelope provided for the ministry.

But the Senior Special Assistant to the President on National Assembly Matters (Senate), Senator Ita Enang, stated that the president did not reject the budget as reported.

Enang said media reports alleging that the budget had been rejected were untrue, explaining that what Buhari did before travelling to China was to send the budget to the ministries, departments and agencies (MDAs) of government in order to get feedback that would inform his assent.

Enang said Buhari was not in violation of the constitutional timeframe within which he is required to assent to the budget, adding that it should not be assumed that the budget had been rejected.

Call on President to Assent the Budget But the Chairman of the Committee on Public

Petitions, Hon. Nkem Abonta, stressed that the National Assembly has the constitutional right to remove or add to budget estimates presented to it by the executive.

“The minister has said he brought it (CalabarLagos rail project) during the budget defence, meaning it was not part of the estimates submitted.

If we had included it, would it not amount to padding?” he asked.

Abonta advised the president to assent to the budget, and then send a supplementary budget for areas he feels were not properly captured in the 2016 Appropriation Bill.

Abonta also wondered why the National Assembly was being fingered in the controversy surrounding the removal of the rail project.

“They said we removed it, the minister said he brought it, so are there two budgets?” he asked, noting that the president’s first outing on budget had shown that he cannot rely on civil servants.

“We are a budget writing legislature, the moment you submit or lay the budget before the National Assembly, it becomes the document of the National Assembly and it has the right to rewrite, remove, adjust or add to the document according to the wishes and aspirations of the people,” Abonta said.

To the Head of Research, SCM Capital Limited, Mr. Sewa Wusu, who pointed out that the lawmakers have the rights to scrutinise the budget, described the ongoing controversy over the budget as needless.

He, however, stressed the need not to pad the budget unnecessarily in view of the challenge facing the economy presently.

“Frivolous spending plan should not be incorporated into the budget. What they should be looking at is how to harmoniously work together to ensure that details of the budget are what should stimulate the economy, what would induce positive growth and improve the living conditions of the citizens.

“Currently, the masses are crying out and that is very obvious. So, I think that the National Assembly and the presidency should very quickly resolve this impasse. It is not a time to flex muscles. What we are talking about right now is to quickly fix the economy. If the budget is signed into law, spending would commence and with that, money would begin to flow. Flow of money is the blood wire of any economy.

“This is not time for legality, they just have to

agree on concrete terms and move more. The more they delay, the more impoverished Nigerians become,” Wusu added.

Also, the Chief Executive Officer, Financial Derivatives Company Limited, Mr. Bismarck Rewane, noted that what the executive needs to do is to sign the budget and start spending.

“It is the spending that would revive economic activities in Nigeria. The people that are suffering are Nigerians because money that was spent two years ago, but now would have created jobs. So, the multiplier effect is being delayed and just as they say justice delayed is justice denied, economic stimulus delayed is economic stimulus denied,” Rewane added.

On his part, the Chief Executive Officer, Maxifund Securities Limited, Mr. Okechukwu Unegbu, said scrutinising the budget remains part of the oversight function of the legislature. He, however, argued that members of the National Assembly do not have any right to import any item that was not included by the executive into the budget, saying that they can remove an item.

“I don’t think they can import an item because these are separate arms of government. I have always said we always have problem with our budget and that is why we have not seen any budget over the years being implemented up to 45 per cent. This is because it comes very late and we end up not achieving anything except payment of salaries and allowances.

“I believe as a result of this, if we concentrate on some items, it would make some sense, but most of the the time they hardly do that. Also, most times, you find out that most of the assumptions are not in line with the reality on ground and the people are to implement these budget are not real with themselves,” Unegbu added.

The International Monetary Fund (IMF) has advised the executive arm of government and the National Assembly to resolve the issues surrounding the budget and have it assented to.

IMF Managing Director, Christine Lagarde, who spoke at the 2016 Spring Meetings of the IMF-World Bank in Washington D.C last week said: It’s really important that budget be completely decided and approved. There is a risk that middle class families and the poor actually remain behind, which would embolden the voices of protectionism and fragmentation,” she said.

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ANALYSIS

Reversing the Stock Market’s Losses Damilola Oyedele writes on a two-day hearing by the House of Representatives Committee on Capital Market & Institutions aimed at exploring modalities to reverse the losses made in the stock market and address the issue of unclaimed dividends

Nigerian Stock Exchange trading floor

Nigeria, several years back enjoyed a vibrant and buoyant capital market contributing a significant quota to national economy. Between 2005 and 2007, Nigeria’s stock market was considered the most performing in Africa, with what many considered an abnormal price increase.

However, stocks prices started to plummet since he global financial crash of 2008. Since that time, the capital markets seem to have resisted several efforts made to turn it around.

The market dipped by 16.1 per cent in 2014, and shed 17. 4 per cent in 2015. It has lost over 13 per cent so far this year.

The development informed the decision of the House of Representatives Committee on Capital Market & Institutions, headed by Hon. Tajudeen Yusuf, to meet with relevant stakeholders at a two-day public hearing to stem the downward trend. The hearing was been prompted by two motions passed by the lawmakers: “Downward Trend of the Nigerian Stock Market” and “Urgent Need to Address the Vexatious Issue of Unclaimed Dividend Fund and it’s Effect on the capital Market.”

Some of the critical stakeholders at the hearing included the Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC), Independent Shareholders Association of Nigeria, Institute of Capital Market Registrars, and the Renaissance Shareholders’ Association.

An ailing capital market At the opening of the hearing, the Speaker of the House, Hon. Yakubu Dogara blamed the downward trend in the market on slide in crude oil prices, a crucial commodity responsible for 75 per cent of national exports and about 90 per cent of foreign exchange receipts.

Other factors identified by the speaker, who was represented by the Minority Whip, Hon. Onyema Chukwuma are: “delinquent assets of commercial banks, eclipse in manufacturing

and industrial production, poor financial from quoted companies, systemic pull back on foreign direct investments and global economic recession” Speaking at the hearing, President of the Renaissance Shareholders Association, Olufemi Timothy said retail investors turned the stock market into a gambling arena buoyed on by manipulations by operators.

He accused operators of deviating from the principles of what a stock market is: a market meant for long term investments, raising long term capital and receiving long term dividends through accrued investment benefits.

Operators, Olufemi added, also failed to mind companies’ performance to determine stock prices, rather they resorted to manipulation of prices to keep clients.

The increase in the stock market prices without corresponding performance of the company led to loss of confidence by genuine investors. Many operators and clients became rich overnight, while regulators were accused of looking the other way, until genuine investor confidence was destroyed

“The increase in the stock market prices without corresponding performance of the company led to continued depreciation downward trend of stock prices and loss of confidence by genuine investors. Many operators and clients became rich overnight, while regulators were accused of looking the other way, until genuine investor confidence was destroyed,” he said.

Other speakers at the hearing blamed insider abuse/trading, as many listed companies have operators on their boards of directors.

Unclaimed Dividends Speaking on the issue of unclaimed dividends, Dongara noted that it has also constantly generated controversy, adding that there has been conflicting figures on the actual volume.

While SEC has initiated an e-dividend mechanism to solve the issue of the dividend fund, and the CBN has relevant department to and units to handle the matter, questions remain as to their effectiveness. This is particularly in the face of alleged fraudulent activities of some registrars.

Several posers were raised at the hearing: Are there necessary punitive measures for such Registrars? How can commercial banks be stopped from frustrating shareholders in accessing their dividend fund? How can the CBN through its financial service regulatory coordinating committee effectively and efficiently regulate the financial system? Are the Nigerian Stock Exchange and Central Securities & Clearing Systems doing great what is necessary to protect shareholders dividend funds ?

Some of factors blamed for unclaimed dividends said to be N80 billion include ignorance of shareholders, poor postal service, insistence of banks on current account for dividend cheques, and holding small number of shares, resulting in negligible dividend.

However, Dr. David Ogogo of ICMR, listed

some of the initiatives of that SEC in collaboration with other market stakeholders, have put in place to tackle the issue of unclaimed dividends.

These, he said, include the recent launch of e-Dividends Mandate Management System (e-DMMS) platform into which all shareholders stock account details with be uploaded.

“Subsequently, all dividends are to electronically credited to the accounts of investors,” Ogogo said.

According to him, a massive public enlightenment has been embarked on, and informed investors to take advantage of the e-DMMS platform.

“All registrars have been directed to return 90 per cent of unclaimed dividends 15 months old and over to the respective companies that declared and paid such dividends. All registrars have accordingly complied,” he said.

Way forward As the Chairman of the Committee, Yusuf, had earlier noted, the forum was meant to explore suggestions on how to move the sub sector forward. Most of the stakeholders therefore called on the National Assembly to improve regulations in the sector, particularly to ensure that operators are barred from being investors.

The legislators was urged to strictly enforce market principles and nature of determining stock market trends through companies financial fundamentals, forecast or warning profits instead of speculations.

The CBN was advised to establish an intervention fund up to the tune of N200 billion, which can be used to shore up the stock market when necessary. This is currently being done in China where the state backed margin finance firm has supported fund managers and stock firms.

The Independent Shareholders Association of Nigeria proposed the establishment of a trust fund for unclaimed dividends.

T H I S D AY • WEDNESDAY, APRIL 20, 2016

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BUSINESSWORLD

INSURANCE

Stanbic IBTC Pension Managers Holds Campaign on Retirement Planning

Ebere Nwoji

Stanbic IBTC Pension Managers Limited, will hold its nationwide campaign/ awareness programme on retirement planning on April 21, in Lagos.

The campaign, which the company launched three years ago, is part of initiatives aimed at encouraging retirement planning amongst Nigerian workers and employers, A statement by the Managing Director / Chef Executive of the company, Mr. Eric Fajemisin

said about 600 participants are expected at the forum to be held in Lagos.

According to him, participants at the event will gain valuable tips from seasoned experts and regulators on the imperative of putting in place effective plans to ensure a smooth transition to retirement.

Fajemisin said Lagos is the first among key cities across the country to host the forum this year, with similar sessions slated for Abuja and Port Harcourt in July and September respectively.

He also said this year’s

campaign has the theme, “Life Continues at Retirement – Retire well”.

He stated that the interactive sessions are aimed at providing stakeholders, particularly people approaching retirement, a platform to have a clear view of the path to a comfortable retirement, while removing the stress of pondering what will happen when the individual disengages from active service.

Fajemisin noted that apart from being an avenue for updating participants on new developments in the pension

industry, the forum is also an effort to shape industry agendas, with the ultimate goal of highlighting benefits of the country’s nascent pension scheme, which will enable Nigerians harness the opportunities.

“Part of our objective in organising a forum like this is to encourage people to take advantage of the provisions of the Pension Reform Act 2014 to prepare for retirement now, and avoid severe financial difficulties during old age,” he said.

Fajemisin counseled employers of labour who, have

to embrace the new pension scheme as stipulated under the enabling Act to do so, so as to guarantee a secure retirement for their employees.

“We believe that people, especially employers of labour, who have yet to embrace the new pension scheme as stipulated under PRA 2014, will use this opportunity to come on board and ensure secured retirement for their employees,” he stated.

He added that Stanbic IBTC Pension Managers Limited was set up with a mission to enable

Nigerians retire well after their working lives.

“We want to help people plan for their retirement to ensure that the retirement phase is as rewarding and productive to them as possible,” he stated.

Stanbic IBTC Pension Managers is a subsidiary of Stanbic IBTC Holdings, a member of Standard Bank Group, a full service financial services group with a clear focus on three main business pillars - corporate and investment banking, personal and business banking and wealth management.

WAICA Moves to Deepen Insurance in Nigeria Nigeria will play host to the 38th Annual General Meeting (AGM) and Education Conference of the West African Insurance Companies Association (WAICA), scheduled from April 24 to 26, 2016 in Lagos.

This year’s conference which has the theme “Practice of Insurance in a Challenged Economy”, will be declared open by the Minister of Finance Kemi Adeosun.

Addressing the press to announce the conference, Chairman of the Local Organisng Committee, Mr. Sory Diomande, said a major highlight of this year’s conference, will be the swearing-in of Mr. Rotimi Fashola, who is the managing director/chief executive officer of Industrial And General Insurance Plc as WAICA president.

He said the three-day event, which starts with an opening cocktail on Sunday, April 24, 2016 will attract eminent speakers who will present papers on various topics.

He said the first paper on “Insurance as a Growth option in a Challenged Economy” will be delivered by Mr. Wole Oshin, past chairman of the Nigerian Insurers Association and group managing director, Custodian and Allied Insurance Plc. Oshin is an accomplished business man and a market leader who has delivered many papers at local and international conferences and workshops.

According to the LOC chairman, Oshin’s paper will be discussed by Mr. Udai Patel, managing director, Afro-Asian Insurance Services Limited, London, and Ms. Hope Murera, deputy managing director, Zep-Re, PTA Reinsurance Co, Nairobi, Kenya, while Mr. Mike Hamah, Chairman, Board of Directors, SIC Insurance Company Ltd, Accra, Ghana will chair the session.

He this session would be followed by WAICA Executive Meeting.

Diomande, said the second day of the conference will witness presentation of paper on “Traditional Insurance vs. the need for Recaliberation of Industry Practices in Dealing with Future Challenges for

Insurers.”

He said this will be presented by Mr. Gustav Siale, MDr/CEO Ghana Reinsurance Co. Accra.

According to him, the above paper will be discussed by Messrs. Shola Tinubu, MD, Scib Insurance Brokers and Edward F-Kyei, MD, Glico Life Insurance Co, Accra, Ghana while the President of the Chartered Insurance Institute of Nigeria and Managing Director of Nigeria Re, Lady Isioma Chukwuma will chair the Session.

He added that this will be followed by the open forum, which will be chaired by the out-going President of WAICA and President of Ghana Insurers Association, Mr. Ivan Avereyireh, who is also the MD/CEO, Ghana Life Assurance Co.Ltd. This, according to him, will be followed by a crucial meeting of West African Insurance Supervisors Association (WAISA) which will be attended by all the Commissioners for Insurance from the West African SubRegion.

According to Diomande, hosting the 38thWAICA AGM and Education Conference by Nigeria is yet another opportunity for Nigerians to showcase their hospitality adding that It gives the country a unique opportunity to showcase its rich cultural heritage.

“It is a vote of confidence on the Nigeria insurance market and it creates an opportunity for networking and exchange of business information. I believe the Nigerian market stands to benefit from this event. I also know that the delegates from other countries will have fond memories of their stay in Nigeria,” he said.

He urged all players in Nigerian insurance market such as underwriters, brokers, Loss Adjusters and Surveyors to see the event as an industry event and a unique opportunity to make a lasting impression about the Nigerian market.

WAICA is the Sub-Regional Association of Insurance Companies and Brokers in the West African Sub-region. The Association provides a platform for sharing business information and cross-fertilization of ideas.

PARTNERING FOR CROSS-BORDER LISTING

L – R; Head, International Primary Markets Nigerian Stock Exchange (NSE), Mr. Oluwafemi Onifade; Chief Executive Officer, NSE, Mr. Oscar Onyema; Co-Head Emerging Markets, International Markets Unit, London Stock Exchange Group, Mr. Ibukun Adebayo; and Executive Director, Capital Markets Division, NSE, Mr. Haruna Jalo-Waziri, at the second NSE/LSE dual listings conference closing gong ceremony in Lagos...recently

PAL Pension Sponsors Lagos Fashion Show PAL Pensions, one of the licensed pension Fund Administrators (PFA) is sponsoring this year’s edition of the Lagos Fashion and Design Week.

The move, according to the company, is a deliberate bid to capture the interest of fashion and design industry operators and boost activities in the proposed micro pension scheme targeted at informal sector operators.

The event, which is taking place at Victoria Island, Lagos, is also co -sponsored by operators of other sectors of the economy such as Heineken Nigeria from the manufacturing sector, major banks in the country among others.

Speaking on the event, Managing Director/ Chief Executive officer of PAL Pensions, Mr Dave Uduanu, said for fashion industry to attract investments, the operators must have to demonstrate their ability

to achieve scale.

He said the fashion industry has incredible potential to scale, noting that was being held back by a number of issues .

Citing the potential of fashion industry, he said the second richest man in the world, Zara founder Amancio Ortega, made his money through the fashion industry.

“What it tells me is that if you really want to make money from fashion, you need to achieve scale. There is $25 billion investment opportunity in the industry and this money is looking for investment outlets.

These investment outlets are outlets that would generate returns that would ensure that the pensioners get their monies when they retire,” he stated The PAL Pensions boss told the designers that it is important they have a business plan that

they can pitch to investors.

“For your business to succeed, you need to put all your energy into that business, because investors prefer to back an entrepreneur who is willing to put all he has into his business,” he said.

He also counseled them to always create an exit strategy when doing their long term plans in order to attract investors,According to him, “Investors need to see an exit because most investors are not looking to remain with you for 20 years. You can’t build a business with the view that you must leave that business to your children, you must build a business with the view that you can exit at some point. Exit does not mean you leave completely, you can sell some and keep a portion” he stated.

He noted that textile industry ,to which fashion and designing business evolved from, used to be one of the largest sectors of the economy, adding that the sector contributed significantly to the GDP of the economy in the 80s.

According to Uduanu, textile, garment and footwear is a sector that currently contributes 0.461 per cent of the GDP. He said the Lagos Fashion and Design week, attracts the attention of international retailers, adding that the industry is currently divided into two markets,a high end offering made up of designers who focused majorly on few individuals and low end market made up of tailors that offer their services to everyone else.

UBA Metropolitan Boss Advises Govt on Insurance Schemes The Executive Director UBA Metropolitan Life Insurance, Mr. Henry Ationu,has advised state governments to see insurance, especially Life insurance as a dividend of democracy for their citizens.

He stated this recently in Kaduna, at the official presentation of benefit cheques by the state governor, Mallam Nasir el-Rufai,

to the victims and relatives of the Zaria bomb blast in 2015.

At the ceremony, Governor el-Rufai presented a total of N30 million cheques to 24 beneficiaries. Ationu, commiserated with the families of the deceased and commended the governor for putting in place the insurance scheme to protect the people of Kaduna state.

He stated that one of the primary responsibilities of governance is to protect lives and property of its citizens, noting that insurance is one of the most effective mechanisms for doing that. He noted that insurance, especially Life insurance, could be used as a fulcrum for dividend of democracy. He therefore, advised that other state governors should

emulate this positive step taken by the Kaduna state government.

UBA Metropolitan Life Insurance, which provided insurance cover to the victims, is a specialist life insurance company reputed for prompt claims payment, good corporate governance, professionalism, actuarial expertise, and technical knowhow.

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T H I S D AY • WEDNESDAY, APRIL 20, 2016

BUSINESSWORLD

NEWS

PenCom, FMDQ Sign Pact to Improve Governance Goddy Egene FMDQ OTC Securities Exchange has formalised its partnership with the National Pension Commission through the co-signing of a Regulatory Supervision Collaboration Agreement.

The partnership, according to FMDQ, is indeed a landmark achievement as it will serve to change the face of the Nigerian financial markets from the buy-side perspective towards investor protection, integrity of service, fair return on investments and ultimately the development of the nation’s economy.

In her opening address, Director-General of PenCom, Mrs. Chinelo Anohu-Amazu, acknowledged and commended FMDQ on its positive impact and giant strides in the development of the Nigerian financial system, and noted that this Regulatory Supervision Collaboration Agreement

executed with the exchange would serve to enable the realisation of PenCom’s investment objectives of safety of pension assets and maintenance of fair returns on investment.

According to the DG “this partnership which would grant PenCom online real time access to FMDQ’s trading system(s), will among others, promote increased transparency in trades, efficient pricing of transactions, higher professionalism of players in the fixed income markets and fair returns on pension fund investment, for the ultimate benefit of pension contributors and the Nigerian economy at large.

Whilst delivering the special address by FMDQ, Ms. Daisy Ekineh, Chair, Board Regulation and Risk Management Committee, FMDQ, Ms. Daisy Ekineh, said this ceremony marked the formalisation of a partnership expected to be formidable and long-standing, as it will

bring about integrity of service, assured investor protection and fair return on investments, serving to fundamentally change the way in which our financial markets operate to the benefit of the nation’s investors, in particular, the pension assets, and ultimately the Nigerian economy.” Also speaking, MD/CEO FMDQ, Mr. Bola Onadele. Koko said the partnership would seek to achieve, among others, the commission’s objectives

(as outlined in the Pension Reform Act, 2014), through data access and visibility of its supervisees’ (Pension Fund Administrators (PFAs)) transactions on FMDQ; improved transparency of all PFAs’ transactions in the Nigerian fixed income market, as well as the money market through the applicable system(s); capacity building sessions for relevant PenCom Staff on the use of the applicable system(s); and the development of perfor-

mance benchmarks for fixed income asset classes: bonds (sovereign, sub-national and corporate), money market securities (treasury bills, commercial papers etc.) and fixed deposits. FMDQ, in its unwavering commitment to support efforts to galvanise the development of the Nigerian economy remains resolute in promoting an efficient, transparent and well-regulated financial market, which will attract and retain investors

(domestic and foreign).

PenCom, via this Agreement, will be conferred membership on FMDQ as an Affiliate Member (Regulators), providing the commission with benefits including but not limited to data access and market visibility rights over the market activities of the Commission’s supervisees within FMDQ and access to real-time pre- and post-trade prices on fixed income securities.

FG, EU, ICMPM Commence Labour Migration Survey in Nigeria Paul Obi in Abuja The Federal Government of Nigeria, European Union (EU) and the International Centre for Migration Policy Development (ICMPD) commenced labour migration survey in the country to ascertain Nigeria’s performance across a broad spectrum of labour issues.

The project, an expanded data collection and survey will focus on massive job creation initiative by securing the partnership of the ICMPD to build migration –related knowledge and database for good policy and effective administration across various sector.

The Minister of Labour and Employment, Sen. Chris Ngige, who addressed a team of experts from ICMPD in his office in Abuja, said the absence of such data base has been the bane of poor government’s labour migration policies.

Ngige explained that “up-todate evidence and information about labour market needs and migrant workers profiles, including their origin, citizenship, age and sex composition, education and skills, qualification, labour force participation are irreducible variables for mutually gainful labour migration.”

“Sector of work treatment and conditions of work and extent of integration are necessary for effective labour administration, policy implementation, impact assessment, monitoring and evaluation, but most of the needed information are lacking in Nigeria. The ministry has to therefore partner with the ICMPD to bridge the data gap,” he added.

Ngige stressed that the ICMPD has agreed to support Nigeria with the development of the survey instrument for national survey on labour migration.

“We want to do our beat in consonance with emphasis on due process mantra of the President Muhammadu Buhari led administration in creating jobs for Nigerians.

“While we create these jobs, we also need to support people who have the desire to migrate their expertise to other countries where they are needed, so that we don’t have excess labour force here. But we must do this in consonance with the international best practices so that our skilled people going out of the country do not become an embarrassment to their host countries. So we want them to be guided as legal residents and accorded all rights for decent jobs in conformity with ILO convention.”

He commended the EU Commission and other international bodies for their support.

Speaking, the Project Manager, ICMP, Mr Naozad Hodiwala said the team of experts was in Nigeria based on the federal government’s request for technical assistance on migration management.

Hodiwala noted that the challenges faced by most countries as it concerns migration policy were Labour migration and migrant data.

“Our assistant to the Ministry of Labour and Employment is to do a sort of survey on the existing data from the ministry.

To also see what kind of tools, sources of data and make best use of the existing 2014 Strategy on Migrant Policy of the ministry,” he said.

He assured the ministry that the centre was ready to offer assistance whatever they could, noting that the centre has being existing since 1993 and have over 50 member states as partners, with over 110 globally requests for technical support on migration management.

CAPACITY BUILDING

L-R: Compliance Officer Stanbic IBTC Pensions, Mrs. Idu Okwuosa; Managing Director, Zenith Pension Fund Custodian, Mrs. Nkem OniEgbuna; Managing Director, Aiico Pensions and Chairman Pension Fund Operators Association of Nigeria (PenOp), Mr. Eguarekhide Longe; Executive Secretary, PenOp, ,Susan Oranye; Managing Director, AXA Mansard Pensions, Mr. Dapo Akinsanya, and Managing Director FUG Pensions, Mr. Usman Suleiman, at a media retreat organised by PenOp for pension correspondents in Lagos…recently

UNIDO Wants States to Exploit Water Assets, Build Hydro Plants Chineme Okafor in Abuja The United Nations Industrial Development Organisation (UNIDO) has asked State governments in Nigeria to show more commitment and partner with it to make the most of their vast rivers and streams to generate hydro power for their use.

According to the officer in charge of UNIDO Regional Office in Nigeria, Dr. Chuma Ezedinma, who spoke during a one-day seminar in Abuja on small hydro power development in Nigeria, the states can leverage on UNIDO’s Small Hydro Power Project in Nigeria to accomplish this.

Ezedinma explained that the project was part of UNIDO’s wider renewable and rural energy effort which seeks to promote inclusive and sustainable industrial development across the globe.

He said under the framework, clean and sustainable

energy was an integral part of UNIDO’s overall mandate to support efforts at scaling up productive and shared prosperity.

According to him, the seminar which UNIDO organised in collaboration with Energy Commission of Nigeria (ECN) and the Ministry of Environment would seek to identify small hydro power developers and investors that can work with UNIDO to develop potential small hydro projects sites in Nigeria.

Ezedinwa stressed that a major challenge with the project in Nigeria was how to get stakeholders, especially states and local government authorities to be active partners in the development of hydro power projects.

He said: “There is the challenge on how to get States and local government areas to understand that the rivers and streams around them are assets that can be converted

to power.

“We have to come together and find a way to boost our power generation which is currently less than 4,000 megawatts (MW). We must utilise every available resource to generate power.

We will like to see strong financial commitment from the States to develop small hydros, everything can’t be done by the international community,” he said.

Ezedinma noted that UNIDO have studies of over 200 sites that can be harnessed into small hydro plants which he added are capable of generating about 3.1MW. He emphasised the need for all stakeholders to commit to the project, just as the Permanent Secretary, Ministry of Water Resources, Rabi Jimeta, maintained in her remarks that the dream of industrialising Nigeria cannot be realised without first developing the power sector

Jimeta said a functional power sector would in turn help develop rural economy through agro allied industrialisation and ultimately reduce the poverty level of over 70 per cent of Nigerians residing in the rural area.

Represented by the Deputy Director, Dams, John Ochigbo, the permanent secretary stated: “There is the need for us to emulate the laudable example of other countries by developing the small hydro power potentials of the vast network of our rivers to boost power supply and local industrialisation.”

While commending the support of UNIDO, she however, maintained that the ministry in collaboration with the ministry of power have completed 10 hydropower dams of about 44MW, four medium hydro plants with installed generation capacity of 124MW, while 12 other small hydro dams are at various stages of completion. .

Oil Price Down as Kuwait Strike Offsets Failed Output Freeze Oil prices slid on Monday after a plan by major oil producers to freeze production was scuttled, but a Kuwaiti oil industry strike still helped the market to settle way off the day’s lows.

The strike crippled more than 60 per cent Kuwait’s crude

output, lending support to price benchmarks such as Brent and Dubai. Supply of refined oil product from the country also tightened from scaled-back refinery runs and lower fuel exports.Brent tumbled as much as seven per cent earlier on Monday after oil majors

from the Organisation of the Petroleum Exporting Countries and non-OPEC Russia failed to reach agreement on a plan to freeze output at a meeting in Doha, Qatar, reports Reuters.

“The material loss in production from the Kuwait strike has helped the oil market forget

about the farce from Doha,” said Matt Smith, director of commodity research at the New York-headquartered Clipperdata.

Brent settled down 19 cents, or 0.4 percent, at $42.91 a barrel.

It had fallen $3 earlier in the session.

T H I S D AY • WEDNESDAY, APRIL 20, 2016

33

BUSINESSWORLD FUG Pensions Gets ISO Certification in Quality Management System Ebere Nwoji FUG Pensions has been certified with the ISO 9001:2008 Quality Management System certification by the International Organisation for standardisation (ISO).

With this, the company, has emerged the second pension Fund Administrator(PFA) to be certified with the international quality management standard.

Managing Director of the company, Mr Usman Suleiman, speaking on the company’s journey to achieve the un common height in quality management, said it commenced since 2013 .

According to him, in 2013, the Board and Management of FUG Pensions took a corporate decision to undergo the process of obtaining an International Organisation for Standardization ‘s(ISO) certification, ISO 9001:2008 in Quality Management System.

He said after many months of rigorous review of the company’s management system, independent assessors certified that the Quality Management System of FUG Pensions were in compliance with the requirements of ISO 9001:2008.

He said following this, certificate applicable to provision of Pension Fund Administration was issued to the company in December 2015, adding that with the certification, FUG Pensions management system is now of international standard.

The International Organisation for Standardisation, (ISO) is an

independent, non-governmental organisation, whose members comprise the standards organisations of 164 member countries including Nigeria.It is the world’s largest developer of voluntary international standards and facilitates world trade by providing common standards between nations.

The use of the standards aids the creation of products and services that are safe, reliable and of good quality.

The standards, help businesses increase productivity while minimising errors and waste. By enabling products from different markets to be directly compared, they facilitate companies’ entry into new markets and assist in the development of global trade on a fair basis.

The standards, also serve to safeguard consumers and the end-users of products and services, ensuring that certified products and services conform to the minimum standards set internationally.

FUG Pensions, was licensed in June, 2007 and commenced operations in October 2007.

Since then,it had consistently improved on its services to the delight of its customers.

With this in mind, FUG Pensions, has developed special service platform to help its customers have access to their account details without necessarily talking to the company’s agents.

FUG Pensions affirms that it will continue to strive to satisfy the needs of its customers within legal and regulatory limits.

NEWS

Enugu to Partner NIPC on Agribusiness Obinna Chima Enugu state has expressed its preparedness to partner the Nigerian Investment Promotion Council (NIPC) in the area of agribusiness.

This, according to the state, has huge potential to generate employment, create wealth and provide food security.

This formed part of the communiqué of the Enugu State Investment Summit with the theme: “Beyond Oil: Fostering Inclusive Economic Growth and Sustainable Development,” that took place in Enugu recently.

The state noted that the abundance of arable land was a great potential yet to be harnessed due to inadequate utilisation of the available land, dearth of information on funding opportunities and technology as well as challenges associated with storage and value addition.

Furthermore, it stressed that Enugu or any state in the Southeast region has the capacity to generate up to one million tourists within a year which will

invariably reposition the state as a top tourism destination.

According to the communiqué, by adopting the meetings, incentives, conferences and events (MICE) approach, the state will invest in the construction of a large convention centre that will attract world class events to the state.

In terms of real estate and infrastructure development, it stated that it was imperative for the state government to consciously and consistently partner with private sector in developing the real estate, saying that the role of the government includes the provision of incentives such as reduced bureaucracy, basic infrastructure and waivers that will spur real estate development and attract other forms of investments to the state.

“The concept of ‘IRU’: Infrastructure, Rapid and Reliable Foreign Direct Investment and Unique focus on competitive advantage, is the key to the growth and acceleration of the economy. By shifting focus

beyond the oil sector, there is a need for Enugu State and the South-east region to look introspect on how to harness the process of development through the free trade zone. Therefore, the Empower Free Trade Zone in Enugu is a major catalyst for change and transformation of the South-east.

“Radical reforms in the education sector can deliver great benefits and contribute to the growth of the economy. Such reforms should incorporate the use of ICT in order to be globally competitive. With over 13 institutions of higher education, Enugu State can invest in its education sector such that it attracts students from other states of the Federation as well as international students.

“The enormous skill gap in the power sector is an opportunity to create skills and ultimately jobs for the youths. Skills in the power sector through the National Training Institute (NAPTIN), can cater for hundreds of thousands secondary school leavers who cannot get

into university and polytechnics,” it added.

On the creative economy, the participants at the summit advised the Enugu state government to explore public private partnerships for the development of the creative and entertainment industry in the state. Some projects, according to them may include the creation of Nollywood theme parks, promotion of local artistes, setting up of academies of training for the industry and creating incentives for the sector.

“The general objective of the Summit was to provide an avenue where major actors in the public and private sector, international organisations, local and foreign investors as well as academic institutions will effectively engage to shape regional and industry agendas.

Specifically, the summit focused on practical and feasible ways on how government and the private sector can partner to maximise Enugu State’s potentials for growth in non-oil sectors of the economy,” it added.

Quarterly Reports Lifts Dow to New High Wall Street rose on Monday, with the Dow touching highs not seen since July, as Hasbro and Disney lifted the consumer discretionary sector while investors braced for a flurry of quarterly earnings reports through last week.

Chevron climbed 1.25 pe rcent as crude prices steadied from earlier losses caused by the collapse of talks among major producers to tackle a stubborn global surplus.

Reuters reported that recent rebound in oil and signs that the U.S. economy was recovering have helped stocks rally from a steep selloff earlier this year that had pushed the S&P 500 down as much as 10.5 per cent.

The index is now up 2.3 per cent in 2016 and only about two per cent short of its all-time high, while the Dow breached 18,000 for the first time since July 21.

That came despite bleak expectations for first-quarter earnings reports, many of which flow in this week.

Earnings of S&P 500 companies are seen falling 7.7 per cent on average, with the energy sector weighing heavily, according to Thomson Reuters Investors will closely watch IBM and Netflix as they hand in their reports after the bell.

Netflix was down 3.2 percent.

“This is a market where beating and exceeding does not guarantee you a higher stock price, but missing guarantees you’re going to get killed on the downside,” said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa. “That’s the sign of a fragile market.”

The Dow Jones industrial average was up 0.49 per cent at 17,985.53 points and the S&P 500 had gained 0.52 percent to 2,091.54. The Nasdaq Composite added 0.34 percent to 4,955.09.

All of the 10 major S&P sectors were higher, led by a 1.2 percent rise in energy.

The consumer discretionary sector was up 0.84 percent, led by Hasbro.

The toymaker jumped 5.7 percent after reporting betterthan-expected quarterly profit and revenue.

Disney rose 2.7 percent after “Jungle Book” dominated the weekend box office, grossing more than $100 million.

Advancing issues outnumbered decliners on the NYSE by 2,066 to 913. On the Nasdaq, 1,925 issues rose and 888 fell.

The S&P 500 index showed 19 new 52-week highs and one new low, while the Nasdaq recorded 52 new highs and 16 lows.

REWARD FOR LOYALTY

L-R: Head, Regulation/Monitoring, National Lottery Regulatory Commission, Mr. Jude Ughwujabo; Winner, Mrs Seun Babalola; Chief Executive Officer, Ptv Ltd, Mr. Banji Adesanmi And Manager UBA, Computer Village, Ikeja, Mrs Mojirayo Adetola-Adesegun, at the Presentation to the Winner of Season 3 of the Levels Go Change Consumer Promotion Organized By Ptv Ltd In Lagos...recently

French Central Bank Chief Warns on Brexit Consequences Britain should stay in the European Union(EU), but regardless how it votes on June 23, the EU needs to forge closer ties to get out of its economic rut, the head of the French central bank has said.

A British exit would have consequences for both financial markets and monetary policy, with implications for the single financial market, said Francois Villeroy de Galhau, who also sits on the European Central Bank’s Governing Council. The Bank of England is already working on contingency plans, he added.

Reuters quoted him to have said, “Britain needs Europe and the opposite is also true, Europe needs Britain,” Villeroy told a business forum in New York.

“I strongly prefer for Britain to stay.”European growth is picking up, thanks primarily to improving dynamics in

Germany and Spain, Villeroy said, but deep-rooted structural inefficiencies are weighing on the region’s recovery.

With or without Britain, the EU needs more investment, better coordination on demand-side policies and faster structural reforms and labour market reform, Villeroy said.

Besides Brexit, risks for Europe include the continent’s refugee crisis, the threat of terrorist attacks and lower growth in emerging economies like China, Villeroy said.

“Nevertheless, the European recovery is on its way,” he said.

Villeroy declined to discuss monetary policy with the ECB’s next meeting scheduled for Thursday, but he said oil prices seemed to have bottomed out, which should help boost inflation during the rest of 2016.

The ECB is expected to keep rates unchanged at Thursday’s

meeting and provide further detail on some of its March measures, such as spelling out how its purchases of corporate debt will work.

In March, the ECB cut all of its key rates, expanded its asset purchases and offered ultra-cheap loans to banks, hoping to generate lending, growth and inflation.

Euro zone inflation has been stuck near zero for most of the past year. It has little chance of returning to the ECB’s target of close to but below 2 percent in the next two years.

A deal to freeze oil output by OPEC and non-OPEC producers fell apart on Sunday after Saudi Arabia demanded that Iran join in despite calls on Riyadh to save the agreement and help prop up crude prices.

The development will revive oil industry fears that major producers are embarking again

on a battle for market share, especially after Riyadh threatened to raise output steeply if no freeze deal were reached.

Iran is also pledging to ramp up production following the lifting of Western sanctions in January, making a compromise with Riyadh almost impossible as the two fight proxy wars in Yemen and Syria.

Some 18 oil nations, including non-OPEC Russia, gathered in the Qatari capital of Doha for what was expected to be the rubber-stamping of a deal - in the making since February - to stabilize output at January levels until October 2016.

But OPEC’s de facto leader Saudi Arabia told participants it wanted all members of the Organization of the Petroleum Exporting Countries to take part in the freeze, including Iran, which was absent from the talks.

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BUSINESSWORLD

NEWS

Delta, Chinese Company Sign MoU on Infrastructure Development

Omon-Julius Onabu in Warri

The Delta State Governor, Dr. Ifeanyi Okowa, has expressed the willingness of his administration to partner credible investors and firms with technical expertise and proven record of performance in order to boost infrastructural development in the state.

Okowa stated this yesterday in Asaba during the signing of a Memorandum of Understanding (MoU) between the state government and the North China Construction Company Limited (NCCC) on infrastructural development of Delta State.

The governor noted that his government is commitment to laying a solid foundation for infrastructural development and industrialisation of Delta State, saying he was excited about the MoU with NCCC as his administration was prepared to do business with credible investors with technical capability and financial muscle.

“We welcome investors that show interest in the state and are ready to partner with us in infrastructural development; we are ready to do business with companies with requisite technical expertise as well as financial capability and

track-record of performance”, Okowa said, adding, “It our hope that this partnership yield fruits in due course. I hope the partnership struck today will benefit Delta State in line with the infrastructural and human capital development policies of this administration; and benefit your company also.”

Secretary to the Delta State Government (SSG), Mr. Festus Agas, and the Commissioner For Finance, Olorogun David Edevbie, signed the MoU on behalf of the state government while Mr Wu Guo Qi signed on behalf of the North China Construction Company (NCCC),

at a brief ceremony witnessed by Dr Okowa and some members of the stats executive council.

In the light of the current economic downturn, the importance of private partnership towards the actualization of development policies could not be over-emphasized, Okowa noted.

“The state government cannot do it alone, so we welcome partnership that will yield good results and that is beneficial to the people within the stipulated period of the contract.”

Earlier, Chairman (African Division) of North China Construction Company, Mr Wu Guo Qi, said that the

partnership was in furtherance of China’s policy of encouraging its big companies to help in the infrastructural development of Nigeria.

He noted that China as the second largest economy in the world today was interested in doing business with Nigeria, stressing that the home government was committed to the policy of encouraging companies in China to invest in Nigeeria hence NCCC’s choice of Delta State. He said that his company has the capacity and was willing to contribute to Delta’s human capital development through the training of young people in

acquiring technical knowledge and skills.

According to Mr Qi, “The MoU is aimed at long term strategic partnership with the state to develop key infrastructure and skill/technology acquisition including design, sand filling and provision of infrastructure in the new city on the banks of River Niger; design and construction of world class government offices; erosion control and construction of drains; urban renewal and upgrading of infrastructure including roads, water, schools, hospitals, renewable energy, waste to wealth”.

Osborne Explains Brexit’s Economic Damage British finance minister George Osborne told voters that leaving the European Union would do permanent damage to the country’s economy, costing them thousands of pounds a year and sapping funding for public services.

In a move immediately challenged by anti-EU campaigners, Osborne pointed to Treasury figures which said breaking away could cost each household 4,300 pounds ($6,100) a year by 2030.

Three days after official campaigning began for the EU membership referendum on June 23, Osborne said all alternatives to staying in the union would leave Britain’s economy smaller than would be if it stayed in the world’s biggest trading bloc.

Leading institutions, such as the International Monetary Fund, and economists have also warned about the short-term economic harm a so-called Brexit could cause. But they

have been more reticent about the longer-term effect.

Reuters quoted him to have said, “Britain would be permanently poorer if it left the European Union. Under any alternative, we’d trade less, do less business and receive less investment,” Osborne said as he homed in on what a Brexit could mean for voters and their living standards.

“The price would be paid by British families. Wages would be lower and prices would be higher,” he said in a speech at a research center specializing in composites for the aerospace industry, which has deep ties with other EU countries.

A poll last week showed just how sensitive voters are to what a Brexit meant for their own finances. Pollster YouGov said respondents who were evenly split shifted to 45-36 percent in favor of staying in the EU if they were told that the cost of a Brexit for them would be 100 pounds a year

PUBLIC ENLIGHTEMENT

L-R; Permanent Secretary, Ministry of Finance, Lagos, Mr. Tunde Ogunleye; Commissioner for Finance, Dr. Mustapha Akinkunmi (middle), and his counterpart in Ministry of Information & Strategy, Mr. Fola Adeyemi, addressing journalists during a press briefing on Land Use Charge in the state in Lagos ...recently

Bayelsa Shuts Down Shell Facility in Yenagoa over Devt Permit Emmanuel Addeh in Yenagoa The Bayelsa State Government has sealed the premises of Gbaran Ubie Integrated Oil and Gas facility, a property of the Shell Petroleum Company of Nigeria Limited.

A statement issued yesterday by the Executive Secretary of the state Physical Planning and Development Board, Chief Boro Ige-Edaba, said the sealing of the company located in Gbarantoru in Yenagoa Local Government Area of the state, followed an eviction order issued by the State High Court in Yenagoa.

The eviction order, the statement added, had granted the state government leave to effect the eviction of SPDC and all occupants of the premises to enable the Physical Planning and Development Board conduct environmental, health, technical integrity and safety checks on the facility.

The facility was said to have been built without a building permit (called Development

Permit) as required by Law. The court had also directed the Commissioner of Police, the Commander of the Joint Task Force (JTF) and all security agencies to facilitate the enforcement of the eviction.

Ige-Edaba said: “The Gbaran Ubie facility was developed by Shell on about 2 million sq.m. of land (more than half of Lagos Island) in Bayelsa State without a development permit contrary to the provisions of the law and commissioned in 2010 despite subsisting stop-work order and noticed to discontinue the development without the permit.

“The Bayelsa State Physical Planning and Development Law, 2015 requires that all developers of existing development in the state which were built without obtaining a development permit under previous planning laws applicable in the state.

“They must submit such development to scrutiny and validation for overriding public safety and must obtain the necessary approvals from the

board for a developed property permit or face the consequences for contravention.

“Despite all notices served on Shell since the commencement of the law in 2015, the company neglected, refused and failed to comply with the provisions and requirements of the law and regulations made pursuant to the law.”

He noted that the court had also ordered that all the occupants of the Gbaran Ubie Integrated Oil and Gas Project and all its affiliated facilities in Bayelsa State to stay and remain evicted until the company complies with all the requirements of the Bayelsa State Physical Planning and Development Law 2015 According to Ige-Edaba, BSPPDB is statutorily empowered to provide effective physical planning, development control and framework for infrastructural development in the state.

“To this extent, all forms of development, whether existing or intended to be carried out by the government, corporate organisations and individuals.”

Land Use Charge: Lagos Moves to Seal Properties of Defaulters The Lagos State Government on Monday said it would not hesitate to seal the properties of residents who default in paying their Land Use Charge (LUC), just as it warned that it might explore the option of prosecuting defaulters according to the law.

Addressing journalists at the Bagauda Kaltho Press Centre in Alausa Secretariat, Commissioner for Finance, Dr. Mustapha Akinkunmi, disclosed that the state government has put in place a variety of payment options which included paying at the bank or the nearest LUC offices to residents using cash or POS or payment online through credit or debit cards.

Akinkunmi, who apologised for the delay in the distribution of the bills this year, attributed it to the need to clean up the data sets which were previously in operation, adding that a more robust clearer data sets were now in place.

He however said despite the delay in the delivery of

the bills, tax payers are still entitled to the usual 15 per cent discounted rate if payment is made within 15 days of bill delivery, while others who pay outside the 15 days grace not exceeding 30 calendar days would pay the actual due amount.He said failure to do that would attract penalty from the 45th day after bill delivery and rise further afterwards, and that properties in such category would be sealed, while owners would be prosecuted in court in accordance with the law.“Payment of LUC is a requirement of law and property tax. Defaulters will have their properties sealed and are liable to be prosecuted in court,” Akinkunmi said.

The commissioner, also clarified the debate on who should be liable to pay LUC, stating that by law, the onus falls on land owners/landlords to pay LUC and not the tenants.

He said: “It is the landlords that are expected to pay the charge. They can have agreements with their tenants, but

from the government’s perspective, it is the landlord that the law recognises in paying the charge,” he said.

He counselled residents to desist from patronizing touts or any official in a bid to cut corners on the payment of LUC, just as it urged people to imbibe the culture of willful payment of taxes.

He said the process of payment of the charge has been fully automated by the government; hence residents should stop patronising touts henceforth in other to avoid paying twice.

“I would like to appeal to all property owners to stop encouraging such habit. The LUC is totally automated because we have records of all properties in the state. I would encourage all property owners to go through normal procedure of payments to the government. If you go through any other means whether through back door or any other means, such is at your own risk,” Akinkunmi warned.

T H I S D AY • WEDNESDAY, APRIL 20, 2016

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W’Bank Urged to Help Solve Refugee Crisis, Other Challenges Government ministers from around the world confronted the refugee crisis, a slowing economy, and other global challenges at the 2016 World Bank Group-IMF spring meetings.

“Forced Displacement and Development” was the only item on the agenda at the Development Committee meeting on Saturday. The committee, which represents the 189 shareholder countries of the Bank Group and the IMF, urged its members to take action to support vulnerable people who have been forced to flee their homes, and encouraged the institutions to partner with humanitarian organizations to help forcibly displaced people and host communities confront the root causes of the problem. “ We will not reach our end poverty goal unless nations are secure and citizens are not confronted by conflict and violence. “ “We will not reach our end poverty goal unless nations are secure and citizens are not confronted by conflict and violence,” said World Bank Group President Jim Yong Kim. “The tragedy of forced displacement causes a tremendous amount of human suffering, as we have seen on a daily basis with the Syrian refugee crisis.”

The meeting followed pledges by eight countries and the European Commission, who contributed to a package of more than $1 billion in support of Syrian refugees and host communities in Jordan and Lebanon, as well as reconstruction in the Middle East and North Africa.

Japan, France, the United Kingdom, the United States, Germany, Canada, the Netherlands, Norway, and the European Commission pledged contributions to the New Financing Initiative to Support the Middle East and North Africa Region, launched jointly by the World Bank Group, the United Nations,

and the Islamic Development Bank Group last October.

Also, Jordan’s Queen Rania and other high-ranking officials called for a new approach to forced displacement and a refugee crisis that has spread from the Middle East into Europe over the last year.

“We must respond to this monumental crisis with monumental solidarity,” said United Nations Secretary-General Ban Ki-moon, adding that the issue will be addressed at next month’s World Humanitarian Summit.

Countries are facing the refugee crisis and other global challenges such as climate change in an environment of slowing global growth. The Development Committee asked the Bank Group and IMF to provide developing countries with policy advice and financial support amid weak demand, tighter financial markets, softening trade, persistently low oil and commodity prices, and volatile capital flows.

Demand for lending from the Bank Group is at its highest for a non-crisis period and is on track to climb to more than $150 billion over four years.

“We’re now working urgently and in new ways with partners to find solutions to these issues that affect all of us,” Kim said, addressing the media at the beginning of the Meetings.

One of those issues is climate change.

The committee welcomed the Bank Group’s Climate Change Action Plan to help developing countries add 30 gigawatts of renewable energy — enough to power 150 million homes — to the world’s energy capacity, bring early warning systems to 100 million people, and develop climate-smart agriculture investment plans for at least 40 countries — all by 2020.

The committee urged the Bank Group to work with the World Health Organisation and others to help developing countries strengthen their health systems,

Japan Adheres to IMF’s Data Dissemination Standard Japan has completed the requirements for adherence to the International Monetary Fund’s Special Data Dissemination Standard (SDDS) Plus—the highest tier of the Data Standards Initiatives. Japan’s SDDS Plus data are now posted on the Dissemination Standards Bulletin Board.

“In order to have a more accurate grasp of the global economies and to prevent the next financial crises, it is critical to promote data transparency,” Vice-Minister of Finance for International Affairs, Masatsugu Asakawa said.

“As an adherent to the SDDS Plus, we are firmly committed to preparing highly transparent and detailed economic and financial data. We also urge further international efforts toward more transparent and reliable statistical data collection, and strongly believe that the SDDS Plus will play a key role.”

Director of the IMF’s Statistics Department, Louis

Marc Ducharme, welcomed Japan’s adherence and noted that “the dissemination of the new data under the SDDS Plus will be invaluable in fostering a deeper understanding and assessment of the performance of Japan’s financial sector, the cross-border-financial linkages, and the vulnerabilities of the economy to shocks.”

The SDDS Plus builds on the SDDS and its purpose is for statistically advanced countries to publish comprehensive, timely, accessible, and reliable economic and financial data in an environment of continuing economic and financial integration.

The Data Standards Initiatives were established in the mid-1990s to enhance member countries’ data transparency and to promote the development of sound statistical systems. The need for data standards was highlighted by the financial crises of the mid-1990s and again in the late-2000s.

including pandemic prevention and preparedness. It also urged the Bank Group to finish preparing its Pandemic Emergency Facility “as soon as possible and foster a new market for pandemic risk management insurance.”

Earlier, Kim and UNICEF Executive Director, Anthony Lake, had urged global and national leaders to step up and accelerate action and investment in nutrition and early childhood

development programs as a critical foundation for equitable development and economic growth. The Bank and WHO also hosted a livestreamed event on the need to make mental health a global development priority.

The committee urged the Bank Group and IMF to step up efforts to find financing for the ambitious Sustainable Development Goals, approved in September, which are expected

to require far more resources than official development aid can supply. It said the multilateral development banks should partner to “support developing countries’ efforts to meet the SDGs, while adjusting to a slower growth environment and reduced private capital flows.”

The committee said gender equality is central to the SDGs and welcomed the Bank Group’s renewed gender

strategy.

A special event with U.S. First Lady Michelle Obama at the meetings had highlighted the issue in the context of equal access to education for girls.

Obama urged leaders to put girls’ education at the “very top” of their agenda. Kim announced the Bank Group would invest $2.5 billion in education projects benefiting adolescent girls over the next five years.

PARTNERING FOR CROSS-BORDER LISTING

L – R; Head, International Primary Markets, The Nigerian Stock Exchange (NSE), Mr. Oluwafemi Onifade; Chief Executive Officer, NSE, Mr. Oscar Onyema; Co-Head Emerging Markets, International Markets Unit, London Stock Exchange Group, Mr. Ibukun Adebayo; and Executive Director, Capital Markets Division, NSE, Mr. Haruna Jalo-Waziri, at the 2nd NSE/LSE Dual Listings Conference Closing Gong Ceremony in Lagos...recently

Weak Markets Leave Morgan Stanley Struggling to Reach Return-on-equity Target Morgan Stanley’s trouble growing revenue in weak markets may prompt management to take further actions to achieve financial goals, Chief Executive James Gorman said on Monday.

His comments came after the Wall Street bank released first-quarter results showing that its profit tumbled by more than half. Trouble in fixed-income markets cut deep into Morgan Stanley’s trading revenue. The business of underwriting stocks and bonds was also difficult.

Sliding commodity and oil prices, worries about the Chinese economy and uncertainty about U.S. interest rates scared off traders,

investors and companies hoping to issue debt or list on stock exchanges early in the quarter.

Morgan Stanley’s returnon-equity, a key measure of how well it uses shareholder capital to earn profits, was 6.2 per cent, well below Gorman’s goal of nine per cent to 11 per cent by the end of next year.

“It must be said that if these markets were to continue as is, our goals would be extremely difficult to achieve and we would therefore take additional appropriate actions,” Gorman said on a conference call with analysts.

He later added that Morgan

Stanley’s shareholder return was “not acceptable” and that the bank might need to get “much more aggressive” on cost cutting.

Analysts were initially bullish on Morgan Stanley’s results because it beat their subdued expectations by a wide margin.

But as the call went on, Gorman and Chief Financial Officer Jon Pruzan were hammered with questions about how it will achieve its financial goals if market conditions do not improve.

Stephen Biggar, an analyst at Argus Research, said it would be “very difficult” for Morgan Stanley to achieve the return-on-equity target Gorman

has set out with revenue as weak as it was last quarter.

Morgan Stanley is not alone in struggling to grow revenue in weak markets, though its profit problems are more severe than rivals that are larger and can lean on other businesses to buoy results.

Last week, JPMorgan Chase & Co reported a seven per cent decline in quarterly profit, while Bank of America Corp reported an 18 percent drop and Citigroup Inc’s earnings fell 27 percent. The declines were attributed in part to trading difficulties. Morgan Stanley’s most comparable rival, Goldman Sachs Group Inc, will report results on Tuesday.

Dudley: US Economy Looks Good but Fed Remains Cautious’ United States (US). economic conditions are “mostly favourable” yet the Federal Reserve remains cautious in raising interest rates because threats loom, New York Fed President, William Dudley has said.

Dudley, a permanent voter on rates and a close ally of Fed Chair Janet Yellen, repeated his views in a speech, saying “policy adjustments are likely to be gradual and cautious, as we continue to face significant uncertainties and the headwinds

to growth from the financial crisis have not fully abated.”

Addressing a conference at the New York Fed, he repeated he was confident that too-low inflation would rise to a 2 percent goal over the next few years, and that “economic conditions have finally warranted the start of U.S. monetary policy normalization.”

The Fed raised rates modestly from near zero in December, its first policy tightening in nearly a decade. Most economists predict it will move again in June, reports

Reuters.com.

UBS AG went to trial on Monday over $2.1 billion in losses that investors incurred on mortgage-backed securities after the collapse of the U.S. housing market. The non-jury trial in Manhattan federal court stems from a lawsuit being pursued by U.S. Bancorp on behalf of three trusts established for mortgage-backed securities, the type of financial product at the heart of the 2008 financial crisis.

Sean Baldwin, the trusts’ lawyer, in his opening statement said UBS contractually agreed that the mortgages underlying those securities would meet certain standards.

When pervasive defects emerged, the bank refused to buy them back, he said.

“UBS’s strategy has always been the same throughout this process: Turn a blind eye to the problems and ignore its contractual obligations,” he said.

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EDUCATION Stakeholders Demand Upgrade in Technical Schools In view of the success stories of some industrialised economies of the world, which are linked to the massive investment in human capital development through technical and vocational education. Stakeholders have stressed the need for Nigeria to emulate these countries and upgrade its technical schools. Peace Obi reports Education as a major tool for human capacity development has remained indisputable.

However, sustaining its usefulness as an essential instrument for self and national development depends on the quality and type of education accessible to any people.

In this age of globalisation and its attendant modernised system of production, there is increasing demand for skilled labour than ever before. As a result, individuals, countries and education systems are faced with the challenge of keeping pace with the competitive world.

Thus, there is need for an education system that empowers learners with contributory capacities that would lead to improvement of their lives, families, businesses, communities and societies.

For Nigeria, said to be operating at a shortfall for certain key skills, re-establishing, restructuring and re-equipping government technical schools to reposition the country to tackle the problem of misalignment in its manpower and the need of the industry is considered the most urgent step to be taken.

A review of the educational and industrial models of some industrialised countries like Germany, Brazil, China, India, among others showed that they are worth adopting by any country that desires to join the league of industrialised economies and to witness sustained economic growth. Establishing the success stories of these countries hinging on their conscious investment in the upgrading of their citizens’ skills through vocational education to meet up with the global demand for skilled manpower, and the need for Nigeria to consider borrowing a leaf from these countries were some of the recommendations made at the 2016 Quramo Conference, held recently at the Lagos Court of Arbitration, Lekki.

In her opening remarks, the compere, Ms. Angela Ajetunmobi, said the Quramo conference is a gathering where policy makers in the public and private sectors come to discuss global developmental challenges. She said the aims include exchange of ideas, encouraging improvement and to influence change, adding that the forum was designed to be a unique African platform for global thinkers.

“We want global thinkers to exchange and share influential ideas, build knowledge and stimulate development.”

Announcing the 2016 conference theme, ‘People, Power: Human Capacity for Africa’, Ajetunmobi said, “we will be examining issues relating to the human capacity requirement for today’s African economy.

“In Africa generally, we know that people are our largest resource, but it is gift under-utilised.

What are the skills Africa needs for the future?

Do we need recreative skills or applied skills?

And what exactly does business mean from our education system here in Africa? How do we invest to create and nurture people for the economy of the future? What can we learn from the experiences of Asian and European economies? All these and more are some of the questions we will be answering today.”

In a paper titled ‘Investing in People’, the Country Representative, City and Guilds International, Mrs. Desola Eghagha, said there tends to be a misconception about vocational training or studies, adding that most people think it is meant for school dropouts.

While reaffirming the place of vocational studies, Eghagha said it is a different career development path open to academically or technologically inclined persons, who could still rise to the top of their professions.

Highlighting the modern approach to technical and vocational education and human capacity development, she said: “In fact, today to work

R-L: The former Attorney General, Lagos State, Olasupo Shasore; the Chairman, Tolaram Group, Haresh Aswani; and the Managing Director, Mark Eddo Media, Mark Eddo, at the 2016 Quramo conference with the theme ‘People Power: Human Capacity for Africa’ in Lagos… recently

in a vocational environment, you have to be highly skilled because if you don’t have the requisite skills for a particular job, what you do may become a health hazard that could cause injury to yourself and even to your colleagues at work.”

Regretting the near-absence of Nigerians as key players in the country’s industrial scene, Eghagha said, “take a look around the Nigerian industrial scene, it can be observed that the majority of the players are Americans, Europeans, Indian, Arabians and more recently the Chinese. This is a direct result of the huge investment of these nations in upskilling their people with internationally recognised and certified vocational skills.”

Highlighting some of the benefits of vocational training to a country and her citizens, she said it would help to broaden the minds of young school leavers to possible lucrative careers in the industrial sector.

On some of the barriers to Nigerians sufficiently exploring opportunities that vocational studies offer, she said, “in Nigeria we have mostly small and medium size private training providers delivering internationally recognised certifications which have invariably made it expensive for the average learner.”

In her recommendations, Eghagha said “government needs to take a cue from these nations and invest in the upgrading of its technical schools to enable them deliver internationally-recognised certified vocational skills; partner industries and give incentives such as tax holidays to industries both indigenous and foreign to sponsor traineeship programme.

“Is it therefore not logical that our next step as a nation is to invest in the upskilling of our youths, who make up 78 per cent of our population to feed the industries in this vital sector?

“The nation must recognise the inherent value and prospective contribution of its people to the economy and treat money spent on upskilling its people as ‘investment’ in an important asset

and not an “expense” to be kept at the barest minimum.”

Presenting the German model, the ConsulGeneral of the Consulate-General of Germany in Lagos, Mr. Ingo Herbert, said vocational training, which was introduced into Germany’s educational and human capacity developmental plan many years ago, is another success story of the German society.

Herbert said the German model of combination of theory and practice seems to be a model that could be readily adopted by any country willing to join the league of industrialised economies with abundant skilled workforce for sustained economic growth.

“In Germany, every company has to be a member of the local chamber of commerce due to the need of the combination of theory and practice. This means that two or three days of the week, the apprentice goes into a company or a small enterprise and takes training on the job and then, one or two days, it depends on what kind of training the individual is into, he goes to a public school for the theory aspect.

“That is the responsibility of the state in Germany as a federal state. They provide the teachers and the school where they learn what they do. So it is not that they only learn how to do it but they also understand what they do. This has worked for us because it gives us all the skilled workers we need and especially when you compare Germany with most of the European countries.

On some of the lessons Nigeria could learn from the German model, Herbert said: “The lesson is that you get capable and skilled workers you need for growth, for economic development and more industrialisation. You could improve the education system through this model. In this model, people are learning by practically doing the job they desire to do. And people do things better when they understand what they do with some elements of theory and knowing the background of what they are doing. I think that helps a lot to do things more excellently.”

Presenting a paper titled, ‘Industrial Skills and Innovation’, the Executive Secretary, Lagos State Employment Trust Fund, Mr. Akin Oyebode, said societies can only grow when governments and other stakeholders improve the skills of the young population that would in return boost production and productivity.

Adjudging Africa’s productivity to be low when compared with other continents like America, Europe and Asia, Oyebode blamed it on insufficient investment in human capital development.

He said while China’s industrialisation was driven by exports, Brazil’s industrialisation was driven by its strong domestic market.

While attributing the success of industrialised countries to their huge investment in industrial skills using Brazil as an example, he said, “Brazil invested heavily in industrial skills and today it has one of the leading technical education schemes such as the Brazilian National Apprenticeship Service. Every year, about 2.5 million Brazilians enroll for the various technical programmes in the scheme.”

On his part, the Special Assistant to the President on Job Creation, Office of the Vice-President, Mr. Afolabi Imoukhuede, whose paper was titled ‘Nigeria Industrial Revolution Plan’, stated that Nigeria does not have a skills development policy to set the direction of skills development and that currently, the country is operating at a shortfall for certain skills.

Imoukhuede advised that a consortium of public-private industry sector boards should set the skills agenda and certify training providers and beneficiaries to ensure that the right trainings are delivered at certain standards, among others.

Presenting short and long-term recommendations, Imoukhuede said: “In the immediate to short-term, government can pick winners among existing Technical, Vocational Education and Training (TVET) and training programmes to scale up and re-route the Industrial Training Fund (ITF’s) funding for this purpose.

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EDUCATION

‘UNILAG Students’ Protest, Attempt to Truncate Academic Calendar’ Funmi Ogundare The management of the University of Lagos (UNILAG) has expressed disappointment over the disruptive two-day protest organised by Students’ Union of the institution (ULSU) led its by its President, Mr. Muhammed Olaniyan on April 6 and 7, 2016, saying that the move was to truncate the institution’s academic calendar.

This had made the senate of the university to suspend all academic activities and close down the hostels from Friday, April 8, to avoid further breakdown of law and order.

The Registrar and Secretary to Senate, Dr. Folasade Ipaye in a statement, said the management found it hard to comprehend the motivation for the protests, adding that in carrying out the protests, student leaders had put the institution under siege for over 48 hours when they locked its two gates.

“This act caused untold hardship to families and pupils of the nursery, primary and secondary schools on campus who, after closing for the day, were prevented from going to their homes until about 11.00 pm. More alarming is the fact that the protesting students invaded the UNILAG Ventures and water production factory to beat up the staff and cart away countless number of bottled water packets.

“The university senate, in an emergency meeting to deliberate on the crisis, arranged for a delegation of senate comprising all serving and former deans present, led by the highly revered Prof. Akin Oyebode, to persuade the student of-

ficials to suspend the protest and opt for dialogue. Rather, the protesters, some of who surprisingly wore masks, threw empty water bottles and other objects at the delegation and failed to listen to any appeal for negotiation.

“For the first time in the history of the university, students’ protest extended until very late in the night; indeed, masked protesters surrounded the university council chamber, where the vice-chancellor was presiding over the meeting of the senate until well after 10pm.”

She recalled that in the last seven months, there have been occasional protests organised by ULSU which were contained by dialogue, none of which led to the closure of the institution, adding that during the recent protest, vehicles were hijacked by identifiable ULSU officials and driven recklessly all over the campus thereby endangering the lives of members of the community.

“Classes were violently disrupted in various faculties by identifiable ULSU officials, who harassed lecturers and also tore up students’ scripts in places where tests were being administered such as in the Faculties of Business Administration and Science. It is a fact that some of the ULSU officials are being investigated for numerous misdemeanors.

It is not far-fetched to see why this minuscule group teamed up with some others who were recently expelled for forgery and others facing police investigation for suspected homicide, to forment trouble and disrupt the academic calendar.”

Oshiomhole Appoints VC for New Tayo Akpata Varsity Adibe Emenyonu in Benin City All is now set for the takeoff of Tayo Akpata University of Education, Ekiadolor, Edo State, as Governor Adams Oshiomhole has appointed Prof. Aduwa Ogiegbaen as the Vice-Chancellor of the university The new university is an off shoot of the former College of Education, Ekiadolor before it was upgraded to the status of a university of education.

Until his appointment, Ogiegbaen was the Deputy Vice-Chancellor of the University of Benin, Ekenwan Campus.

In a letter dated April 14, 2016, the governor said, “I wish to inform you that Edo State Government has approved the upgrading of the Edo State College of Education, Ekiadolor to a university of education to be known and called Tayo Akpata University of Education, Ekiadolor.

“I feel privileged to have

the honour by virtue of the powers conferred on me as the visitor by the enabling laws establishing the university to appoint you as the vicechancellor of the university with effect from April 18, 2016.

“Given your resourcefulness, expertise, experience, global network and reach, I believe that the university will benefit enormously from your uncommon visionary leadership,” Oshiomhole said.

Ogiegbaen, a descendant of the Benin royal family, is the Enogie (Duke) of Egaben/ Ogbeson in Benin Kingdom; he has combined academics with the traditional administration of his Dukedom.

He has over forty publications in reputable national and international journals and is a member of the Nigerian Association of Educational Media and Technology (NAEMT); Curriculum Organisation of Nigeria (CON); and Association for Promoting Quality Education in Nigeria (APQEN).

Ipaye said the union claimed that they were denied access to the VC, adding that contrary to their claims, the president had requested for an informal meeting held in the VC’s office on April 1, between 5.30pm and 7.30 pm.

“This informal discussion was at the behest of the ULSU president, who met the vicechancellor in company of two other members of ULSU executive. The meeting discussed various issues. However, contrary to issues discussed, ULSU sent two letters dated April 1 and 4, 2016 respectively on the following: a quest for a new and befitting university main gate, the purchase of a new bus for ULSU, the directive

to the executive of cab operators to ‘abdicate office’ immediately.”

The registrar maintained that a cursory look at the reasons advanced by the union for the protest clearly indicated that many of the issues were spontaneously manufactured to justify the premeditated move to truncate the university’s academic calendar.

She said the senate has directed the investigation of the immediate and remote causes of the incident and that a committee has been set up for this purpose to come up with appropriate recommendations to avoid a recurrence.

Meanwhile, the Education Rights Campaign (ERC) has called for the immediate

re-opening of the institution, saying that it is in full support of the protest.

The National Coordinator, Mr. Taiwo Soweto and Secretary, Mr. Michael Ogundele in a statement said: “We fully back the students’ union for organising the protest which in our opinion was long overdue.

We call on the authorities of UNILAG to immediately meet all demands and re-open the university so that the students can prepare for the first semester examination.”

The group said the protest occurred over legitimate grievances on such issues as high cost of food and other items on campus, poor electricity and water supply, poor welfare

conditions especially in the hostels, issues of academic injustice and arbitrariness of the administration of the vicechancellor.

“There is no doubt that UNILAG has the most expensive cost of living among all federal universities in Nigeria.

Mind you, this situation is not occasioned by the recent general increase in prices of goods and services as a result of forex crises and fuel scarcity, although worsened by them.

This is a situation which goes back many years and it is a culmination of the ‘cash and carry’ policy of the university administration which essentially takes education as business and students as customers.

Students of Lagoon School, Lekki, Lagos, with the Nigerian Ambassador to Cote d’Ivoire, Mrs. Ifeoma Akabogu-Chinwuba, when the students visited her during their language tour to Cote d’Ivoire… recently

Tansian Varsity Graduates 1,387, Honours Umeh, Ukachukwu, Orjiako Charles Onyekamuo in Awka The Tansian University, Umunya, Anambra State has produced a new crop of 1,387 graduates comprising four sets of 2012, 2013, 2014 and 2015 academic sessions.

They are made up of 257 graduands from the Faculty of Natural and Applied Sciences and 1,130 from the Faculty of Management and Social Sciences of the university.

Speaking during the institu-

tion’s second convocation ceremony at the Umunya Campus, the Vice-Chancellor, Prof Chima Iwuchukwu, said five of the graduates bagged first class; 370 made second class upper division; 1,007 were in the second class lower division category; while five had third class.

He said the graduands represent the school’s product of high level manpower which it can attest to as its contribution to nation building through education.

Iwuchukwu said the management applied a new energy and vigour and injected into the fabrics of the university a new focus and direction for the achievement of highly competitive standards.

He said the new direction would bring about integrity, stability and fame, confidence and the expansion of newer horizons for Tansian University among the comity of world universities.

He stressed that part of the dividends of the new direction

is that the admission process has become more transparent and clearly spelt out for fresh students and direct entry candidates, adding that the immediate accreditation carried out by the National Universities Commission (NUC) in October, 2015 saw the university coming out in flying colours with the eight programmes featured having full accreditation in seven and an interim status in one.

The founder and chancellor of the university, Prof. John Bosco Akam, thanked God for all

Gregory Varsity Set to Establish College of Law Preparations are currently underway for the establishment of a college of law at the Gregory University Uturu, Abia State.

This was announced by the Chairman of the Project Implementation Committee, Prof. Ernest Ojukwu at the end of the inaugural meeting of the committee, which held at Justice Izima Council

Chambers of the institution.

Ojukwu lauded the visionary leadership of the Chancellor, Dr. Gregory Ibe, “which has led to the establishment of many sought-after programmes in the university, including Engineering, Medicine and Environmental Sciences”, and promised to ensure that the college of law ranks among

the best in the country.

While conducting the committee members round the project site, the chancellor expressed the preparedness of the management to ensure strict compliance with all operative standards guiding the establishment of the college as stipulated by the National Universities Commission (NUC).

The inauguration of the committee was preceded by separate meetings of the university’s board of trustees and governing council. Addressing the council, the Pro-Chancellor, Ebele Okeke, expressed satisfaction with the ongoing massive infrastructure development at the institution and urged the management not to relent.

38

T H I S D AY • WEDNESDAY, APRIL 20, 2016

EDUCATION

Social Media, SMS Kill Students’ Writing Skills, Says NIPOST Segun Awofadeji in Bauchi The Nigerian Postal Service (NIPOST) has regretted that the advent of social media and phone text messages known as Short Messages Service (SMS) have negatively affected the writing skills of students nowadays such that many of them cannot spell English words correctly.

The Postmaster-General, Dr. Richard Balami, said this recently during the closing ceremony of the letter writing competition, organised

by NIPOST, in collaboration with Bauchi State Ministry of Education for senior secondary school students in the state.

Represented by the Deputy

Postmaster, Mr. Yahaya Wambai, he explained that the exercise was borne out of the desire to checkmate the ugly trend among students, which leads to their persistent failure in English Language examinations thereby stopping them from securing admissions in tertiary institutions.

“The recent intrusion of mobile phones in our lives at the turn of the century especially on the fragile minds of our youths in the developing countries and given the vulnerability of the young ones to exploit something new, coupled with the inability of some parents to pay attention to some of these things, gave credence to some of the challenges we are now faced with.’’

The NIPOST boss, who noted

that 4,844 students from 36 secondary schools in the state participated in the competition, added that the agency organises such events every two years in states across the country to inculcate the art of speaking and writing good English Language among youths.

Also speaking, the Commissioner for Education, Nuhu Gidado, who was represented by the Permanent Secretary of the state ministry of education, Muhammed Yelwa, commended NIPOST for organising the programme, which he said would enhance students’ communication skills.

He said before the inception of the current administration in the state, the education sector was characterised by

‘’decayed condition of schools, lack of learning materials and demoralised teachers’’.

This he said informed the decision of the government to allocate 20 per cent of its budget to the sector, promising that it will also embark on massive renovation of schools; provision of learning materials; motivation of teachers; as well as high enrollment of children into schools in the shortest possible time.

At the end of the competition, Silverline Tetua from Government Secondary School, Dass emerged overall winner, while Amina Gambo and Musa Habu of the Government Day Secondary School, Kofar, Wambai, Bauchi emerged first and second runners-up respectively.

R-L: The Chairman, Colleges of Education Academic Staff Union (COEASU), Michael Otedola College of Primary Education (MOCPED) chapter, Mr. Michael Adefuye; the Secretary, Mr. Ezekiel Abraham; and the Vice-Chairman, Mr. Adeyemi Ayowole, during a press conference on Monday to announce the union’s indefinite strike in Epe, Lagos

Sesema PR’s Pitch Competition Produces Winners Peace Obi A graduate of the University of Port Harcourt, Onoriode Edafe, has emerged winner of the maiden Corporate Communications Pitch Competition (CCPC), organised by the Sesema Public Relations, in conjunction with the Alima Atta Empowerment Fund.

Emerging from the five contestants to clinch the grand prize, Edafe was presented with N130,000 and a six month internship at Sesema Public Relations, while the first runner-up, Ibukunoluwa Oyegbesan from University of Bradford, UK received a cash prize of N70,000 and three months internship at the firm.

The winners emerged after a rigorous pitch process overseen

by industry experts among whom were, Mrs. Habiba Balogun of Habiba Balogun Consulting; Mrs. Sade Onyia, a management consultant for multinational firms; and the Managing Director, Sesema Public Relations, Mrs. Tampiri Irimagha-Akemu.

To select the five contestants for the grand prize, applicants were required to write an essay on how public relations agencies have transformed brands in Nigeria and the key drivers that have made it possible. Thereafter, five contestants were selected from that stage and given a PR brief to respond to where the final winners were selected.

Speaking at the event, Irimagha-Akemu said the competition was initiated to continue the legacy of the founder of the firm Ms. Alima

Atta, a foremost PR guru who dedicated a greater part of her professional life grooming new entrants into the PR landscape and giving them a head start in the industry.

“We are happy that Sesema PR has marked another year delivering expert PR services.

We will continue to develop programmes and youth empowerment initiatives that would ensure that we help young people that are passionate about public relations.

She said the competition was in line with the organisation’s CSR objectives to the growth of PR and communications sector and landscape, adding, “we are really impressed by the level of creativity and technical capabilities displayed by each of the contestants. They have made us realise that we are indeed pursuing a

worthy cause; that is why we have decided to extend the internships opportunity to four contestants rather just the winner.”

Responding, Edafe thanked the organisers for the opportunity given to him to participate, saying, “winning this competition was a shock to me considering the calibre of contestants I met here, but I am happy I won. I have learnt a lot already from the pitch process, and I know that the internship opportunity will give me a huge jump in my career and I am grateful for that.”

The CCPC, the first of its kind in Nigeria, is aimed at identifying bright communications graduates to avail them a platform to build a career in public relations and digital communications.

Combat Your Stressors with Potatoes Teacher-stress, stressed by go-slow, stressed by low wages, stressed by family obligations - here is one way to manage them. Look up to potatoes, especially baked and with skinon, to help you manage stress and regulate your moods.

Potatoes contain high proportions of vitamin B6, which your body needs: for its cellular renewal, maintenance of a healthy nervous system, the manufacturing of serotonin and dopamine that regulates your moods, and for the making of neurotransmitters that deliver messages from one cell to the next.

In Nigeria, we know that potatoes are particularly grown and relished in the north by our Hausa and northern brothers and sisters. Adopting it more widely down south would do us well. Potatoes are one of the most popular vegetables around the world. There are over a hundred varieties of potatoes with each variety distinctive in its characteristics.

The different textures and flavours of the selection of potatoes around the world appear to inform the recommended ways to cook them.

Some potatoes are best baked, fried, mashed, roasted, steamed, boiled, grilled or pan-fried. Many types are even great as snacks or in salads, soups and stews. Potatoes are varied in flavor and texture, hence you would find them feeling or experienced as: fluffy, light, moist, smooth, creamy, waxy, and velvety on the one hand. On the other hand, you have the earthy, nutty, dry, floury, dense, starchy and firm consistencies of some potatoes.

When they are prepared in a healthy way, potatoes are an excellent source of energy. Like red peppers, potatoes are very high in vitamin C. One medium potato, skin on, may contain nearly half of the vitamin C that’s your recommended daily intake. To get the most vitamin C from potatoes, bake them. Potatoes are also high in complex carbohydrates, providing the fuel and energy your body needs for internal digestions, absorptions and processing.

A potato is naturally low in calories and contains no fat, sodium, or cholesterol. The skins of the potatoes provide a helpful dose of fiber, iron, potassium, calcium, zinc, phosphorus, and vitamin B6. In other words, a good serving of potatoes keep your arteries fat-free; contributes to lowering your blood pressure; aids digestion and regular bowel movements; protects you from colon cancer; contributes to cell renewal, maintenance of a healthy nervous system and a stable, balance mood.

If at all possible, you should avoid putting potatoes in the refrigerator or freezing them, as cold will turn the potato starch to sugar and cause them to turn dark when they are cooked. When you store potatoes, keep them in a cool, dark place. Too much light will cause them to turn green.

You can store them in the basement if you have one, as the basement is the best place to keep potatoes.

Omoru writes from the UK

50 Students for Finals of 2016 Spelling Bee Contest Funmi Ogundare A total of 50 students representing schools from the nine participating states across the country, have advanced to the national finals of this year’s Spelling Bee Nigeria Competition, aimed at inculcating effective communication, improved spelling skills, poise development, and accurate word usage among secondary school students.

This year’s edition, organised

by Young Educators Foundation, an NGO that promotes literacy and education, and franchise holders of Scripps National Spelling Bee, USA, began with the training the trainers sessions in Abuja and Lagos, where Scripps certified linguistic professionals took teachers through an intensive three-day training.

The Programme Director, Mr. Akinleye Olu-Philips, said the competition is targeted at students between eight to 13

years, adding that Pearson Education would be the official dictionary of the Spelling Bee Nigeria.

“This year’s edition began with the training-the-trainers session at two venues, Lagos and Abuja, where Scripps certified linguistic professionals took teachers though an intensive three-day training.

The participants will arrive Lagos for the three-day camp with their chaperones on April 20.”

He said the winner would get an allexpenses paid trip to the 89th Scripps National S p e l l i n g B e e i n Wa s h ington DC, USA as a guest, and a scholarship fund, while the first runner-up would also get an all-expenses paid trip to Pearson Publishing House, Harlow, UK and a scholarship fund.

“We are committed to the development of education and reading culture in Nigeria,”

39

T H I S D AY • WEDNESDAY, APRIL 20, 2016

EDUCATION

Empowering Epe Youths through Vocational Education As part of his campaign promises to Epe Federal Constituency, a member of the Federal House of Representatives, Hon. Tasir Olawale Raji told Funmi Ogundare how he has been impacting the lives of youths in Epe through his Youth Empowerment Scheme (YES) to make them financially independent, useful to themselves and the society The youths are believed to be the cornerstone and vehicle of societal growth, but the challenges facing Nigerian unemployed youths today are enormous, and has widened the gap between the ‘haves and have not’.

As a result the youths have to struggle and pay to get virtually everything, little wonder they are used as political thugs or get involved in other vices.

Thus, as part of his campaign promises to Epe Federal Constituency, a member of the Federal House of Representatives, Hon. Tasir Olawale Raji decided to embark on the Youth Empowerment Scheme (YES) to bring the youths out of the doldrums and equip them with skills to set up their own businesses.

To actualise this, he explained that he entered into partnership with the Lagos State Technical and Vocational Education Board (LASTVEB), and with the Memorandum of Understanding (MoU), a total of 15 vocations were identified: tiling, block making, barbing, hair dressing and cosmetology, shoemaking, bead making soap making, domestic electrical wiring and installation, photography and video recording, to empower the youths of Epe. He said the project is expected to be in phases, adding that since it commenced three months ago, about 130 participants currently being trained have shown enthusiasm towards it.

“We had a total of 135 youths that started with us; our initial target was 100, but with the enthusiasm shown by the participants. But as at today being the third month, the figure is 130 because they maintained 90 per cent attendance since we started. I have been encouraged by their feedback and the enthusiasm that they have exhibited was beyond my expectation.”

On the viability of the scheme to the participants considering the current state of the economy, Raji said: “We took into consideration our environment before selecting the skills. You will agree with me that tiling, block moulding and brick-laying are under the construction industry and are in demand. With baking and pastry, caterers

Raji

are engaged in parties, despite the economic hardship. Every weekend, Nigerians have not stopped holding parties because there is demand for event decorators.

“Hair dressing and cosmetology is something the ladies can’t afford to miss, as they have to visit the salon once or twice in a week.

With barbing, the men must also take care of themselves; photography and video recording also go with social engagements in the country.

In the course of their training, the participants have had to shoot an important documentary.

These are vocations that are in demand.”

Raji expressed concern over the invasion of Lagos State by expatriates, who are artisans from neighbouring countries, especially in the construction industry. “When people are

looking for tilers, they prefer to hire Togolese, Beninoire and Ghanaians. I don’t think this is good enough for us, when we have our children roaming the streets. All these vocations are in local demand.”

Asked how the project is being monitored, he said the training partner, LASTVEB, and his representatives have been on ground to monitor and give reports on their activities on a daily basis.

“For instance, the lectures and practicals they had today were all sent to me through emails and WhatsApp. Since they started I have been there and the executive secretary of LASTVEB has been there twice with the commissioner for wealth creation. The participants are being monitored and I get feedback from time to time.”

To sustain the project, Raji said the YES initiative would be different from those that were done in the past, which had witnessed participants disposing or selling off their equipment, adding that they would be brought together under a cooperative group and further empowered.

“We have seen people do youth empowerment programmes in the past, but it has been discovered that many of such programmes, within three to six months, they are back to square one. But this time to prevent that from happening, we intend to form them into cooperative groups.

For instance, the barbers among them, instead of giving individual participants clippers, we set them up to acquire a salon which will be owned and run by their cooperative society, which will also serve as training organisation for would-be apprentices among them.”

He said the duration of the programme would be between three to six months, adding that after graduation and their empowerment, which would involve assisting them to establish their micro businesses, there would be a business support officer that would monitor their progress and assist them along the line until they can stand on their own.

“We will not leave them alone, but in my constituency office, I am going to have an officer

who will monitor their progress. So we will continue to give them a continuous education to up their skills from time to time and monitor their performance. It is a continuous training,” Raji said.

Asked how he has been funding the project in the last three months, he said, “we have funded it so far through our private resources and we continue to do that until we get them settled to start their businesses. It is not as if we have a lot of money to do it, but I believe and I see my election into the House of Representative as an opportunity to make an impact on my environment. It is a legacy and we intend to make permanent impact on their lives such that whatever it will cost is a sacrifice.

“I prefer to invest in them and make them financially independent rather than spending money to rig election, engaging or exploiting their vulnerability by using them as thugs during elections. I will rather invest in making them financially independent so as to be useful to themselves and the society.”

Raji, who affirmed that the future of the country lies in technical and vocational education, stressed the need to give the youths the necessary skills and impart knowledge in them.

“That is because the micro, small and medium scale businesses are the largest employer of labour in any economy and they constitute the backbone of any economy worldwide. Nigeria is no exception. We believe that if we must address the problem of youth unemployment in this country, our focus should be shifted to vocational and technical education training for our youths so that they can be self-employed and reliant.

“We all see that the salary employment is no longer available anywhere. Government employment used to be the most reliable but today even if there is security, irregularity in the payment of salaries even at the federal level, workers do not receive their salary on time until the following month and we know some states that workers are being owed for months.”

Concerned Staff Fault Appointment of New Rector at FEDPOLY, Offa Hammed Shittu in Ilorin The appointment of a new rector at the Federal Polytechnic, Offa, Kwara State is causing ripples among the stakeholders of the institution.

Already, some concerned staff of institution have faulted the selection process of the search team of the Federal Ministry of Education that was set up to select a new rector.

THISDAY checks revealed that the struggle for who emerges the new rector has divided the polytechnic into various factions in recent time. It was gathered that the search team was accused of not abiding by the law guiding the selection of a new rector and not fol-

lowing the conditions listed in the advertisement in one of the national dailies for the selection and appointment of new rector.

A statement issued by the concerned staff, signed by Tajudeen Ayokunle, alerted the federal government to the alleged double standard and stage-managing of the selection process by the search team by allegedly trying to impose an unqualified candidate as the new rector.

The group appealed to President Muhammadu Buhari not to allow bias and unacceptable recommendations of the search team to prevail in order to bring peace to the institution.

The statement read: “The clamour by the concerned staff

of the Federal Polytechnic, Offa is a progressive one intended to benefit the system, management and staff of the polytechnic by saying the truth and nothing but the truth on the selection of rector at the polytechnic that was faulty, bias and pre-determined to favour a particular candidate.

“While the Buhari administration is busy with the change mantra, the anti-corruption crusade of this administration should not be rubbished by these set of administrators who are supposed to be agents of change.

“Corruption is not limited to stealing money, official stealing and compromise of the selection process on the appointment of the rector is a clear case of official corruption.

“We the concerned staff hastily call on the minister of state for education and the minister of education to personally conduct an independent critical analysis of the whole process vis-à-vis the advertisement for the position of rector, which stated the qualifications and qualities for eligibility to apply for the post.”

The statement added: “The aspirant for the position of substantive rector did not only participate in the elimination exercise of candidates to be invited for the interview, but chaired the meeting of the search team.

“Even, the representative of the ministry of education in the search team connived with

the NBTE executive secretary and the registrar of the polytechnic to misinterprete the law governing the appointment of new rector as stated in Section 7.2.b.1 of Federal Polytechnic (Amendments) Decree 5 of January 1, 1993.

“It is also disheartening that one of the aspirants of the rectorship position does not hold a degree in any of the discipline offered in the polytechnic as stipulated in the advertisement duly signed by the registrar of the polytechnic for the post of rector.

“The aspirant only had professional Master Degree in Communication Arts from the University of Ibadan and

not academic degree and also obtained doctorate degree online at Atlanta International University, Hawaii, USA which the Federal Ministry of Education declared unacceptable in academics.

“How come then, that a candidate with such degree was shortlisted, supported and penciled down for appointment as a rector? Likewise professional master degrees such as MCA and others are not acceptable in academics.”

The group called on the minister for education, the federal government and the minister of state for education to please intervene in this matter urgently in the interest of positive change.

Stakeholders Applaud Customs Agent for Writing Two Books Stakeholders in the maritime industry have applauded a Lagos-based licensed customs agent, Mr. Leonard Okonkwo for creating time out of his busy schedule to write two books.

The author’s colleagues, importers and exporters, who gathered at an impressive ceremony in Lagos to formally

unveil the two books, lauded the agent for his efforts.

The two books titled ‘Key Points in a Happy Marriage’ and ‘Solid Foundation for a Happy Marriage’ are aimed at ensuring that couples find fulfilment in their marriages.

The two books dwell on the main challenges confronting marriage such as finance, adul-

tery, separation and divorce.

They also focus on the ways to tackle them to have better marriage and homes in the country in the years ahead.

While ‘Solid Foundation for a Happy Marriage’ focusses on the areas to concentrate if one desires to have a happy marriage, ‘Key Points in a Happy Marriage’ is on the

main issues that drive a happy marriage.

On his reason for writing the books, the author who hails from Nnewi, Anambra State said: “Fulfilment in Marriage, Volume One and Two contain enough information painstakingly gathered to assist the married and those preparing for marriage.”

Okonkwo said nowadays, the institution of marriage is facing serious challenges, as many young people enter into marriage unprepared and this often gives rise to series of groundless, unwarranted, offensive, and ugly situations between husbands and wives.

“My aim is to point out and make some of the practicable

things, which are necessary if one must find fulfilment in marriage.”

He explained that the books contain information from the philosophical, theological and medical viewpoints and enjoined stakeholders to ensure that they buy the books and use them wisely for the benefit of their marriages and homes.

40

WEDNESDAY, APRIL 20, 2016 • T H I S D AY

CITYSTRINGS

Acting Features Editor: Charles Ajunwa Email charles.ajunwa@thisdaylive.com

The New Roads from Hell The residents of Michael Ogun and Durojaiye Streets in Surulere Local Government Area of Lagos, have called on the state government to come to their rescue as the contractor handling the road and drainage construction in the area goes about demolishing their homes, writes Clement Danhutor

T

here can be no argument as to the fact that Lagos State has witnessed tremendous transformation under the leadership of Governor Akinwunmi Ambode’s administration even if it has not completely become the mega city that is the dream of the administration.

For the roads, the bridges, the schools, the security and transport systems and other infrastructural facilities, significant transformation so far provided by the administration has endeared it to residents as well as visitors.

While some communities in the state have felt the midas touch of the administration, thus making them to be so close to modernity, others appear to be far away from it.

However, one community which appears to be craving the state government’s attention in this regard, are residents of Michael Ogun/Durojaiye Streets in Surulere Local Government Area.

The reason for their cry for help is premised on the fact that they believe that there is the need by the state government to address a notice recently deposited to residents of the two streets by Surulere Local Government, which was dated January 19.

The notice, which was signed by one Engr.

V.O. Hotonu, who is said to be attached to the Works and Infrastructure Department of the council, directed residents to comply within three days by removing all shanties, shops, containers and block works which have encroached into the right of way of Michael Ogun/Durojaiye Streets.

The letter with reference number “SLG/ CE/W&H/2016/VOL.11/44” and titled: “Contravention and demolition notice”, reads: “You are hereby given three days notice to remove all shanties, shops, containers and block works which have encroached into the right of way of Michael Ogun/Durojaiye Streets.

“This is in line with the road construction which has commenced in earnest. You are, therefore, implored to comply as failure may attract stiffer measure being meted against you.

Itesiwaju Eko lo je wa logun. Thanks for your understanding. Engr. V.O. Hotonu (Works and Infrastructure).”

According to the residents, the notice though with genuine intents, was “wrongly channelled” as it failed to address the precarious state of the estate’s roads, which houses in the two streets in the estate.

Irked by the seemingly unfavourable disposition of the council to their plight, the residents under the aegis of Obele Oniwala Estate Community Development Association (OOECDA), decided to take the bull by the horns by taking their complaints to the council.

In this regard, the association decided to write a letter to the Executive Secretary, Mrs. Bamidele Husseini, wherein they enumerated their plight to the council’s boss.

The letter entitled: “Re: Contract for the Construction of Durojaiye/Micahel Ogun Streets Awarded to Olag Nigeria Limited” and dated January 29 urged Husseini to review the contract in what they feared “may cause fatal and colossal damage to our health and well-being as these buildings are the only property that most of us rely on as our means of survival in life.”

The notice, which THISDAY obtained, reads: “We, the landlords and residents of Durojaiye Street, Obele Oniwala, Surulere write to humbly urge that you kindly use your good office to stop the above named contractor of Surulere Local Government from pulling down our buildings/ walls in the guise of road construction. Our buildings/walls have been marked for demolition and the execution of this threat of demolition may cause may cause fatal and colossal damage to our health and well being as these buildings are the only property that most of us rely on as our means of survival in life.

The demolished houses

“May we state ma, that in making this humble request, we are not antagonists of the state government’s development programmes. We are in fact ardent supporters of the state and local government programmes but this particular programme bothers on our continued existence.

If executed, resultant loss we would suffer may cause stroke and even death for some of us.

“A careful inspection of our area/environment would reveal that we have not exceeded the pillars erected by the government and we have never experienced any form of flooding in our area. We therefore appeal to the contractor to utilise the existing space for the construction of drainage. Our septic tanks are constructed at the front of our buildings. If our fences are demolished, our lives and property shall be exposed to various types of peril/danger.”

Interestingly, all the residents of the two streets signed the letter, which was said to have been acknowledged by a member of staff in the chairperson’s office.

Dissatisfied by the silent response of Husseini, the residents decided to write the state Commissioner for Local Government and Community Affairs, Alhaji Musiliu Folami, letter signed by OOECDA’s Chairman, Alhaji M. A. Gafar and Secretary, Mr. Kelani Yusuf.

In the letter, the residents drew the attention of the commissioner to two issues which, they argued, concerns their lives. The letter was dated March 3 and was acknowledged by the office of the commissioner on March 29.

In the letter, the residents argued that: “relocating the existing electricity poles nearer our buildings would result in the high tension wire and in some cases the 50kV transformer lying almost directly on our roofs. The resultant effect is that waves emanating from this wire would be hazardous to our health and they could cause Cancer to us and our children.”

Secondly, they also pleaded that “the contractor should assist us in replacing our damaged fences destroyed and damaged in the course of this construction work.”

Remarkably, Ambode, the Secretary to the Lagos State Government, Mr. Tunji Bello; Chief of Staff to the governor, Commissioner for Energy and Mineral Resources, Mr. Olawale Oluwo; Executive Secretary, Surulere Local Government Area and Chairman, Community Development Committee (CDC), Mr. Balogun and the contractor

(Olag Nigeria Limited) handling the project, Mr. Alade, were all copied with the letter.

Prior to this letter, the association had written a “Letter of Appreciation” dated March 22 to the Senior Special Assistant on Community Development, Alausa, Lagos, Alhaji Tajudeen quadri, wherein it thanked him for “you recent visit to community in respect of the ongoing road reconstruction.”

The letter went on to applaud the “state government programmes in modernising and rehabilitating of the state’s inner roads in fulfilment of its promise to the electorate”, but, however, pointed out what it described as a design flaw as regards the contractor’s plan to move the high tension carrying electricity poles into our properties.

The association further added that “any move (even an inch) from their existing position will pose as an imminent danger to us and our children considering the fact that some of these poles do carry oil filled transformers with fuses that could explode at any time, besides some small current that constantly are emitted by the 11KVA high tension wires.”

While the aforementioned letters were expected to reinvigorate hope, the residents still felt that the expected response was not enough to assuage them of the huge set back which the project would cost the streets in question.

In furtherance to this agitation, the residents of Durojaiye held a meeting with Hon. Desmond Elliot, where the issue of fence removals, power disruption and construction of drainage for over two months was discussed. The meeting, which was held on February 5 at 11am was held at No. 36, Durojaiye Street, Obele-Oniwala, Surulere.

But as the dilly-dallying continued, most residents spoken to explained that the project was not in the best interest of the community.

For instance, a resident, Mr. Olanrewaju Ayodeji, who spoke with THISDAY, said: “I am personally displeased and very unhappy with the way the Lagos State Government and Surulere Local Government Area are going about the road construction on our street. Road construction is generally a sign of development which also brings relief to its beneficiaries and this is usually welcomed. But reverse is the case with the road construction on Durojaiye Street, Obele in Surulere.

“It has rather brought sadness, displeasure,

hardship, discomfort and endanger the life of residents. It has exposed us to night robbery, which is becoming rampart and the danger and hazards of high tension electricity which will now be placed directly over our roofs far less than the recommended and acceptable distance.

“We are therefore, appealing to all appropriate authorities and relevant quarters and the state government to hear our cry for help to stop this dastardly act by some people who are only concerned about their financial gains and not the well-being of Durojaiye Street residents.”

Similarly, another resident, who craved for anonymity, described the exercise as unacceptable.

Speaking also, a resident on Durojaiye Street, Tina Asabi, said: “The ongoing road/drainage construction on Durojaiye Street is an exercise which would have been much appreciated in more needy areas, as our road only needed to be patched. The decisions to move the electricity pole an inch near our homes is like sentencing us to death.”

Corroborating Asabi’s position, Mr. Oshodi Olalekan, a resident of the area, expressed misgiving over the ongoing project, stressing that the Environmental Impact Assessment (EIA) failed to consider some other aspects needed to execute the project satisfactorily.

He said: “The road construction and drainage rehabilitation by the state government is peopleoriented as the intention is noble. However, the execution of the project is flawed because the Environmental Impact Assessment (EIA) was not enough as it failed to take the electricity poles and high tension cables into consideration. The specifications should have been adapted to suit the environment. We are talking about inner roads in an estate. The ideal thing would have been to rehabilitate the existing infrastructure in relation to the size of the roads within the estate.

“If the above highlights were taken into consideration, safety of lives and property would have been sustained and the good intention of the state government would have been enhanced, especially in the light of the dwindling revenue allocation to the state.”

However, efforts to get Husseini comment on the issue proved abortive while efforts to get competent staff in the council react also did not yield result. They all declined to make comments.

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PERSPEC TIVE

Grazing Commission Bill: When Men Die That Cattle May Live

A cattle rustler

Reno Omokri

N

igeria is not the only country where pastoralists come and go. In Kenya, they have the Maasai herdsmen who have been herding cattle around the Nile Valley area from the days of Joseph in ancient Egypt. Other nations have their own form of pastoralists too. But never in the history of the 20th and 21st Century has the world encountered a scenario such as that which stares Nigeria in the face, whereby Fulani herdsmen simultaneously and nationally and almost systematically are wiping out indigenous Nigerians for the benefit of their cattle.

I challenge my readers to take the time to do a Google search and collate the number of reported casualties from unprovoked Fulani attacks on innocent, unarmed Nigerians in 2016 alone. The results will shock you! I will not throw out a number in order not to give my political foes fodder to use against me in a case of incitement, but please carry out even a cursory research on the matter.

And what has been the response of the Nigerian Government? I was shocked to read the reaction of Nigeria's Minister of Internal Affairs, Lt. General Abdulrahman Dambazau (rtd.), who blamed social media users for exacerbating these attacks!

So what are we to do when we become aware that Fulani herdsmen are accused of killing, raping and maiming Nigerians? Are we to keep quiet in the national interest?

Excuse me, but I thought the national interest was the interests of human beings rather than the interest of cattle!

And then President Muhammadu Buhari

from faraway China, rightly goes ahead to issue a lethal warning to pipeline vandals: desist from your actions or else be dealt with as I dealt with Boko Haram!

Yet this same tough talking president does not have similar words for Fulani herdsmen? Mr. President, how many Nigerians have to die before you give Fulani herdsmen the 'Boko Haram' treatment?

President Buhari must be willing to suspend the fact that he is himself a Fulani by ethnicity and remember what he has been preaching to us since he first forced his

The Grazing Commission Bill is an insult to all the victims of the herdsmen. Peace can only be achieved if those who want to herd cattle set up ranches as is done everywhere else in the world

way into our national consciousness after his coup against President Shehu Shagari in 1983.

I can never forget when the then military head of state, Major General Buhari said: "This generation of Nigerians and indeed the future generation have no country other than Nigeria, we shall stay and salvage it together."

Indeed, the president must remember that he wanted us to stay and salvage Nigeria together and not stay and be savaged in Nigeria by Fulani herdsmen!

And the absolute worst part of this story is the attempt by some legislators to add salt to injury and injustice by floating a so called National Grazing Commission Bill to compulsorily acquire large swathes of Nigerian land and give them to the commission for the benefit of Fulani herdsmen.

In fact, it makes better sense to establish a Victim Support Commission for the many thousands of victims of Fulani herdsmen than it does to set up a National Grazing Commission.

Honestly, I do not understand the idea behind this bill. The legislators sponsoring this bill are asking Nigeria to change her land tenure system to fit nomads who may or may not be Nigerian citizens. Has the world gone mad?

Nigeria should not change to fit Fulani herdsmen, instead it is Fulani herdsmen that should change to fit Nigeria.

The Grazing Commission Bill is an insult to all the victims of the herdsmen. Peace can only be achieved if those who want to herd cattle set up ranches as is done everywhere else in the world.

The cattle herding business is a private enterprise. It should not be the business of the government to use public land and public funds to promote the group interest of Fulani herdsmen.

Let me assure any federal legislator that it is foolhardy enough to support this bill that senators and House of Representatives members from states where Fulani herdsmen have killed innocent Nigerians should forget their reelection if they support the Grazing Commission Bill.

In fact, they should be ashamed of themselves that they sat in a National Assembly where the Lagos-Calabar rail was not provided for and watched as the Grazing Commission Bill got to second reading.

Instead of passing laws to protect victims of genocide they want to pass laws to protect those who commit genocide. Talk about Stockholm syndrome!

I am tempted to ask if this is the Federal Republic of Nigeria or the Federal Republic of Fulani Herdsmen with Nigerians as second class citizens? Hardworking, tax-paying Nigerian citizens do not have land to build houses yet the backers of this repugnant bill want to give free land to Fulani herdsmen?

But should I or anybody reading this really blame the sponsors of this bill?

Shouldn't the blame rightly be on all of us collectively when we keep silent while our brothers die because of political ambition and fear of persecution?

What did Jesus say in Matthew 10:28?

"And fear not them which kill the body, but are not able to kill the soul: but rather fear Him which is able to destroy both soul and body in hell."

I’m Reno Omokri, if anybody likes let them come and arrest me for saying the truth. I would rather live the rest of my life in a dungeon than fold my hands and do nothing while my fellow Nigerians are being killed so that cattle may live. *Omokri is the host of Transformation with Reno Omokri

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T H I S D AY WEDNESDAY APRIL 20, 2016

2015 Financial Statements

STATEMENTS OF FINANCIAL POSITION

STATEMENT OF COMPREHENSIVE INCOME

AS AT 31 DECEMBER, 2015

FOR THE YEAR ENDED 31 DECEMBER, 2015 2015 N'000

ASSETS Current assets Cash and cash equivalents Investment securities Other assets Deffered tax assets Non-Current assets Property and equipment Intangible assets

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF UBA PENSIONS CUSTODIAN LIMITED

2015 N'000

2014 N'000

3,772,827

3,457,950

Interest Income

765,480

760,669

Other Income

164,987

49,837

4,703,294

4,268,456

(545,834) (503,440)

(471,127) (417,984)

(1,049,274)

(889,111)

PROFIT BEFORE TAX

3,654,020

3,379,345

2014 N'000 Income

748,142 6,039,100 855,378 54,845

730,484 5,238,966 768,544 50,513

7,697,465

6,788,507

46,652 131,425

58,753 125,052

178,077

183,805

7,875,542

6,972,312

EQUITY AND LIABILITIES EQUITY

Custody Fee

Personnel expenses Operating Expenses

Income tax expenses

(967,238)

(879,073)

Share Capital General Reserve

2,000,000 1,737,385

2,000,000 1,550,603

Profit for the year

2,686,782

2,500,272

Total equity

3,737,385

3,550,603

Total comprehensive income for the year

2,686,782

2,500,272

684,198 2,500,000 944,906 4,129,104

516,450 2,000,000 894,823 3,411,273

134

125

Current liabilities Trade and other payables Dividend payable Current tax liabilites Non-current liabilities Deferred tax liabilities

9,053

Earnings per Share

Report on the Financial Statements We have audited the accompanying financial statements of UBA Pensions Custodian Limited which comprise the Statement of Financial Position as at 31 December 2015, the Statement of Profit or Loss and other Comprehensive Income, Statement of Changes in Equity, Statement of cash flows for the year ended 31 December 2015, a summary of significant accounting policies and other explanatory information.

Directors' Responsibility for the Financial Statements The Directors are responsible for the preparation and fair presentation of these financial statements in accordance with the International Financial Reporting Standards, Companies and Allied Matters Act CAP C20 LFN 2004, the Pension Reform Act, 2014, the Financial Reporting Council of Nigeria Act, 2011, National Pension Commission Guidelines and for such internal control as the Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditors' Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors' judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditors consider internal controls relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by Directors, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion In our opinion, the financial statements give a true and fair view of the financial position of UBA Pensions Custodian Limited as at 31 December 2015 and the financial performance and cash flows for the year then ended in accordance with the International Financial Reporting Standards, the Companies and Allied Matters Act Cap C20 LFN 2004, Financial Reporting Council of Nigeria Act, 2011, the Pension Reform Act 2014 and National Pension Commission Guidelines.

Other reporting responsibilities In accordance with the Sixth Schedule of Companies and Allied Matters Act CAP C20 LFN 2004 we expressly state that: i)

10,436

ii) iii)

Total equity and liabilities Fund Under Custody

7,875,542

6,972,312

1,257,614,349

1,164,273,893

Contravention The Company contravened the PenCom Regulation on Investment of Pension Fund Assets during the year, the particulars thereof and penalty paid are as disclosed in Note 25 to the financial statements.

The Financial Statements were approved by the Board of Directors on 14 March, 2016 and signed on its behalf by:

VICTOR OSADOLOR Chairman FRC/2016/ICAN/00000013923

BAYO YUSUF MD/CEO FRC/2015/CIIN/00000010809

We have obtained all the information and explanation which to the best of our knowledge and belief were necessary for the purpose of our audit.

The Company has kept proper books of account so far as appears from our examination of those books.

The Company's financial position and its statement of profit or loss and other comprehensive income are in agreement with the books of account and returns.

SIMON MBA CFO FRC/2013/ICAN/00000002232

Michael Daudu, FCA - FRC/2013/ICAN/00000000845 For: Akintola Williams Deloitte Chartered Accountants Lagos, Nigeria 21 March, 2016

Chairman: Victor Osadolor Managing Director/CEO: Bayo Yusuf Directors: Awele Elumelu, Tukur Ingawa, Femi Olaloku, Johnson Agoreyo, Abass Mohammed.

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INTERNATIONAL

email:foreigndesk@thisdaylive.com

Afghan Taliban Militants Kill 28 in Kabul Attack A Taliban suicide bomb and gun assault on a government security building in central Kabul killed at least 28 people and wounded more than 320 yesterday.

President Ashraf Ghani condemned the assault “in the strongest possible terms” in a statement from the presidential palace, located only a few hundred meters away from the scene of the blast.

The insurgency led by the Afghan Taliban has gained strength since the withdrawal of most international combat troops at the end of 2014, and the Islamist group is believed to be stronger than at any point since it was driven from power

by U.S.-backed forces in 2001.

With nerves on edge in Kabul, a second explosion hit the city in the evening but no serious casualties were reported from the blast, which was caused by an improvised device, according to Interior Minister spokesman Sediq Sediqqi.

Police chief Abdul Rahman Rahimi said civilians and members of the Afghan security forces were among those killed and wounded in the morning blast, when a suicide car-bomber blew himself up outside the wall of a

National Directorate of Security (NDS) office.

Witnesses described chaotic scenes after the blast.“I was here when a huge explosion happened,” said Amir, who works in a nearby restaurant.“I saw three boys with severe head injuries. My uncle was injured and my brother is missing, I don’t know what happened to him.”

It was the worst single militant strike in Kabul since 2011, when about 60 people died in a suicide blast outside a mosque, and will reinforce concerns in Afghanistan and the West that the country is being dragged into a worsening spiral of violence.

Rahimi said one attacker had tried to slip into the NDS building through a destroyed wall after the blast, but he was discovered and killed.

The Taliban said on their Pashtolanguage website that they had carried out the suicide bombing on “Department 10”, an NDS unit responsible for protecting government ministers and VIPs. They said a suicide car bomber blew up the main gate at the front of the office, allowing other fighters, including more suicide bombers, to enter the heavily guarded compound.

Taliban spokesman Zabihullah Mujahid said in a separate statement that the attackers engaged in a gunbattle with Afghan security forces inside the building. He said as many as 92 security staff and soldiers were killed.

The Islamist group often exaggerates details of attacks against government and military targets.

A thick plume of black smoke was seen rising from the area near the sprawling U.S. embassy complex nearby immediately after the blast.

Warning sirens blared out for

appears to leave the fragile sixweek-old ceasefire in tatters. The truce was brokered by the United States and Russia to pave way for the first peace talks attended by the warring factions since fighting began five years ago.

Those talks, taking place under U.N. auspices in Geneva, also appear to have collapsed this week. The opposition says it has called a “pause” to negotiations, although it is reluctant to accept blame for the collapse by walking out altogether.

It was not immediately clear whose aircraft were responsible for the strikes. Both Syria’s own air force and that of its Russian allies have been operating despite the truce.

Damascus and Moscow say they are only attacking territory held by Islamist fighters who are not covered by the ceasefire, but opposition groups dismiss this, saying the government and its Russian allies use the Islamists to justify wider attacks.

The Britain-based Syrian

Cuban President Raul Castro will serve a second term as head of the Communist Party, in a sign that signifies political change will be slow despite economic reform and detente with the United States.

The Communist Party wants avoid any chaotic collapse as it wrestles with an inevitable transition from the generation of leaders who fought in the 1959 revolution and the modernization of the Soviet-style command economy.

Castro, 84, had proposed age limits and term limits for top leaders as

Observatory for Human Rights which monitors the conflict through a network of sources on the ground, said 37 people were killed in Maarat al-Numan and seven in Kafr Nubl. Many of the injured were in a serious condition and the death toll was expected to rise, it said.

Asked if it was the deadliest attack recorded since the ceasefire began, the Observatory’s head Rami Abdulrahman said: “I believe so.”

Ahmed al-Seoud, head of the 13th Division, a foreign-backed faction fighting under the umbrella of the Free Syrian Army, also gave a death toll of around 40 in the larger attack and said 80 people were wounded.

“We learned today there had been another massacre this morning,”French envoy Franck Gellet said in Geneva.

The Syrian military could not immediately be reached for comment, and state news agency SANA made no mention of air strikes in Idlib.

North Korea Foreign Earnings May Be Hit after a New Nuclear Test A fifth North Korean nuclear test could trigger new sanctions including an effort to choke off hard currency earnings by its laborers abroad, the top U.S. diplomat for the Asia-Pacific region said yesterday.

“Like a regimen of medicine, the dosage can be upped when the effects fall short of what’s required,”Assistant Secretary of State for East Asian and Pacific Affairs Danny Russel told Reuters.

Russel made clear he was speaking about possible fresh sanctions by the U.N. Security Council, by the United States on its own or by a group of like-minded states from the European Union and Southeast Asia, along with the United States.

The United States, South Korea and Japan also could take unspecified “defense-related measures”if the North were to conduct what would be its fifth nuclear test, Russel said.

North Korea conducted a

the Taliban last September in the biggest blow to Ghani’s Western-backed government since NATO-led forces ended their combat operations at the end of 2014.

Taliban fighters have also been making territorial gains in the southern province of Helmand, further stretching Afghan forces who have struggled to contain the insurgency.

Yesterday’s blast came days after a United Nations report said urban warfare

had caused a spike in the number of deaths and injuries among women and children in Afghanistan this year.

The U.S. embassy said the attack underscored the harm the Taliban continued to inflict on the Afghan people.

“Afghanistan deserves peace and security, not attacks that victimize parents taking their children to school, workers on their morning commute, and people who have stepped forward to help defend their fellow citizens,” it said in a statement.

Castro Keeps Top Job as Cuba Holds Back on Leadership Changes

Syrian Talks Doomed as Air Strike Kills Dozens in Market Syria’s fragile peace talks appeared doomed yesterday after air strikes killed around 40 people in a crowded vegetable market in rebel territory, with the opposition saying a truce was finished and it would keep away from negotiations indefinitely.

France described the bloodshed as“another massacre”. A monitoring group said it believed the strike on the market in Maarat al-Numan in Idlib province was the deadliest single attack since a partial ceasefire took effect on Feb. 27.

A rescue worker said warplanes had simultaneously struck crowded markets in two towns in Idlib killing at least 38 people in Maarat al-Numan and 10 others in nearby Kafr Nubl.

“We have more than 20 cars that have been moving dead and injured to hospitals in the area,” said Ahmad Sheikho, a member of the civil defense corps, a rescue service operating in oppositionheld territory.

The air strike, accompanied by intense fighting in other areas,

some minutes from the embassy compound, which is also close to the headquarters of the NATOled Resolute Support mission.

The U.S. embassy and the NATO mission both said they were not affected by the blast.

The Taliban announced the beginning of their spring offensive on April 12, and fighting has raged around the symbolically important northern city of Kunduz since then, although the capital had been relatively quiet.

Kunduz, Afghanistan’s fifth-largest city, fell briefly to

fourth nuclear test in January and a long-range rocket launch the following month, triggering expanded U.N. sanctions aimed at starving it of funds for its atomic weapons program.

Some experts expect North Korea to conduct a fifth nuclear test in the near future, possibly before its party congress in early May, following an embarrassing failure of an intermediate-range missile last week.

the party gathered for the start of a four-day congress over the weekend, raising expectations septuagenarian and octogenarian veterans would begin to step aside.

But he also made clear that such changes would not be rushed. At the end of the congress, the first in five years, the Communist Party said Castro had been re-elected as first secretary, with Jose Ramon Machado Ventura, 85, re-elected as second secretary.

Castro is seen as a pragmatist who built Cuba’s army and brought efficient management to some of the military’s powerful companies during long years in the shadow of his brother, former President Fidel Castro, 89, who ruled the country until 2008.

Raul Castro has ordered market reforms to the economy and oversaw the thaw with the United States that led Barack Obama to become the first U.S. president to visit Cuba in 88 years.

But since that historic visit last

month, the Castro brothers have hardened anti-U.S. rhetoric and raised political defenses out of a stated concern Washington plans to topple them.

Fidel is now frail but attended the congress yesterday as a delegate.

Photos in state media showed him dressed in a blue tracksuit jacket, apparently joining-in a rendition of the left-wing anthem The Internationale.

He was given a standing ovation and delivered a speech about the danger nuclear weapons would wipe out the human race, like“the dinosaurs.” He also spoke about climate change and global population growth.

MachadoVentura fought alongside Fidel and Ernesto“Che”Guevara in their rebellion against a U.S.-backed government in the 1950s. He is seen as a ideological hard-liner who has sought to slow a move to market economics.

In a sign of the secrecy with which the congress has been conducted, the closingspeechesandresultsofthecountry’s most important political event were not

broadcast live on state television, which instead showed a soap-opera.

Castro said on Saturday that his proposal of 60 as the maximum age for joining the party’s central committee with a limit of two five-year terms would allow the young to be promoted more quickly in the party - key to securing the relevance of an institution that has suffered falling membership in recent years.

He also said the party should represent more women and AfroCubans.The top leadership is currently overwhelmingly white and male.

While top posts were unchanged,the party brought in five mostly younger faces to the powerful political bureau.

The new members included three women. Two were of mixed AfroCuban descent.

Castro has called for sweeping changes in the management of Cuba’s economy and wants top leaders to retire at 70. But he said the next five years would be for transition and such rules would not be fully applied until then.

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INTERNATIONAL

Brazil’s President Slams Impeachment Drive as ‘Sexist’ Brazil’s President, Dilma Rousseff, said yesterday that she has been singled out for impeachment partly because she is a woman in a drive that is fueling hatred and intolerance in a nation increasingly divided by her possible ouster.

Rousseff, her country’s first female president, repeated that there were no legal grounds for her ouster on charges of breaking budgetary laws, as she continues to fight for her

political life after the lower house of congress backed her impeachment on Sunday.

That vote, in an overwhelmingly male congress, was marked by tussles, banners and chanting not usually associated with major politicians.

“Goodbye dear,” a number of congressmen shouted as they cast their vote.

Rousseff’s impeachment case now moves to the Senate where the opposition is expected to

US, Iran Diplomats Meet at UN on Sanctions, Syria The United States Secretary of State, John Kerry, met with Iranian Foreign Minister, Mohammad Javad Zarif, in New York on Tuesday to discuss implementation of the Iran nuclear deal and ways Tehran can use its influence to end Syria’s civil war, officials said.

Kerry was expected to raise Tehran’s concerns over difficulties with accessing the global financial system despite the lifting of some U.S. sanctions under the nuclear deal, U.S. officials said on Monday.

Kerry and Zarif, who were talking behind closed doors at the Manhattan headquarters of the United Nations, declined to comment to reporters on their way into the meeting.

Iran and six world powers

clinched an historic nuclear agreement in July 2015, which allowed for the easing of some sanctions imposed by the United States, European Union and United Nations in return for Tehran curbing its nuclear program.

Tehran has called on the United States to do more to remove obstacles to the banking sector so that businesses feel comfortable with investing in Iran without penalties.

Current U.S. policy bars foreign banks from clearing dollar-based transactions with Iran through U.S. banks. But U.S. officials have said the Obama administration is considering ways in which non-U.S. companies could use the dollar in some business transactions with Iran.

win the simple majority required to suspend her and start a trial that could last six months. If found guilty, Rousseff would become the first Brazilian leader to be impeached in more than 20 years.

The crisis has paralyzed the government as it struggles to revive the economy from its worst recession in decades, copes with an outbreak of the mosquito-borne Zika virus and scrambles to prepare to host the 2016 Rio Olympic Games.

“There has been, mixed in all of this, a large amount of prejudice against women,” Rous-

seff said at a news conference with international media in Brasilia. “There are attitudes toward me that there would not be with a male president.”

Brazil has more female than male voters but just 45 of the 513 deputies in the lower house are women. In the business world, a study by Corporate Women Directors International published last year found that women make up just 6.3 percent of board members at major Brazilian companies.

Rousseff stands accused of a budgetary sleight of hand employed by many elected

officials in Brazil: delaying payments to state lenders in order to artificially lower the budget deficit to boost her re-election campaign in 2014.

Rousseff on Tuesday lashed out at her political opponents, noting that unlike her, many of them were facing criminal charges for corruption.

More than half the lawmakers who decided her fate on Sunday are under investigation for graft, fraud or electoral crimes, according to Congresso em Foco, a prominent watchdog in Brasilia.

Rousseff singled out for attack her vice president, Michel

Temer, for conspiring against her, and speaker of the lower house Eduardo Cunha, who faces charges of corruption and money laundering. She said Cunha set the impeachment in motion out of revenge after her Workers Party refused to help him avert an ethics committee on whether he lied to Congress about having undeclared Swiss bank accounts.

“This is a attempt to have an indirect presidential election by a group of people who would otherwise never be elected,” she said, denouncing the impeachment process as a “coup.”

Russian, NATO Envoys to Meet Russian and NATO envoys are to meet for the purpose of easing the tensions.

Already bridling at NATO’s expansion eastwards into its old Soviet sphere of influence, the Kremlin sees the U.S.-led alliance’s new deterrents as a threat. NATO believes Moscow’s annexation of Crimea puts Europe’s stability at risk and is modernizing to defend itself against an assertive Russia.

The NATO-Russia Council, which was broken off in June 2014 after the Crimea crisis, will meet in Brussels to discuss Ukraine, Afghanistan and how to avoid military accidents that might lead to war.

“We are not afraid of dialogue,” said NATO Secretary-General Jens Stoltenberg, who will chair the talks with the alliance’s 28 ambassadors and Moscow’s envoy to NATO, Alexander Grushko.

While the West and Russia remain at odds over eastern Ukraine, where more than 9,000 people have been killed in separatist fighting that NATO accuses Moscow of backing, the meeting is a sign of willingness to improve relations.

Agreeing on the meeting was a breakthrough in itself after many disagreements over the agenda, NATO diplomats said.

However, the simulated attack

passes of Russian warplanes near a U.S. guided missile destroyer in the Baltic Sea last week, followed by the interception of an U.S. air force plane by a Russian fighter two days later, have again strained the mood.

Stoltenberg called the Russian maneuvers “unprofessional and unsafe behavior” on Tuesday, saying they highlighted the need for dialogue. NATO allies worry that Russian pilots are ignoring safety precautions agreed during the Cold War. Grushko said it was the alliance, not Moscow, that was increasing the risks of conflict in Europe.

He cited NATO’s biggest

modernization since the Cold War, possible plans for a bigger NATO presence in eastern Europe, and a U.S. missile defense shield as reasons to be worried.

“Today we are facing a NATO military build-up which is completely unjustified,”Grushko told reporters.

“I don’t see any possibility for a qualitative improvement of our relations if NATO continues on its path of deterrence and relevant military planning.”

Washington says the U.S. missile defense shield in Europe is not directed at Russia and is designed to shoot down any ballistic missiles that might be launched by Iran.

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BUSINESS/MONEYGUIDE

Nigeria, Others Urged to Tackle Non-inclusive Growth Obinna Chima A former Deputy Governor of the Central Bank of Nigeria (CBN), Professor Kingsley Chiedu Moghalu has warned that if Nigeria and other developing countries fail to achieve inclusive economic growth, they would have missed the path to true development and run the risk of increased instability.

Moghalu, who is a Professor of Practice in International Business and Public Policy at The Fletcher School of Law and Diplomacy at Tufts University in Boston, USA, laid out a road map for achieving inclusive growth at the 2016 Global Empowerment Meeting (GEM) convened by the Centre for International Development at Harvard University in Boston recently.

“In order to achieve inclusive growth, we should be clear about what it means and what it doesn’t,” Moghalu told the GEM, a high-level international conference at which senior policymakers and global thought leaders

tackle problems of poverty and economic development.

“Inclusive growth is about bringing all sectors of the economy and different strata of the society into a process of broad-based economic growth. This raises incomes and creates wealth across the board through increased labour productivity. It is not the same thing as inequality.

“That is a wider problem created by the unequal distribution of capitalist wealth and is being addressed in some industrially advanced countries with income and wealth redistribution through taxation adjustments and other means,” the former CBN chief was quoted to have said in a report.

Moghalu also noted that “inclusive growth also is not quite the same thing as social protection, although there is some relationship between the two. Inclusive growth focuses on the productivity of labour across a balanced set of sectors, and on ensuring employment, while social protection and welfare

may include exhaustive fiscal transfers that do not necessarily create any goods and services.”

He suggested that “achieving inclusive growth in Nigeria and other developing countries required an approach focused on conceptual clarity, which is necessary because a proper understanding of what inclusive growth is and what it is not will help policymakers avoid the wrong kinds of “solutions” that will in reality not solve the problem; rural based economic growth as opposed to “urban bias” in development thinking; the fundamental role of business in promoting inclusive growth; infrastructure, which promotes equality of opportunity to access the marketplace of labour and goods; the creation of an effective social contract between the state and its citizens, which is presently absent; financial inclusion; and effective political leadership that can translate political power, authority and responsibility into inclusive growth-related public policy.”

Marina street, Lagos

MARKET INDICATORS

Naira Depreciates on Parallel Market The naira weakened against the US dollar on the parallel market yesterday as it closed at N320 to a dollar, lower than about the N318 to a dollar it was at the close of business on Monday.

It was gathered that some traders are still digesting the implications of the China deal on the market. The naira appreciated against the US dollar on the parallel market on Monday as traders continued to weigh the prospects of a currency swap between Nigeria and China.

President Muhammadu Buhari last week travelled with a high-level government delegation to China where he signed a $6 billion deal to fund joint infrastructure projects.

During Buhari’s visit to Beijing, the Industrial and Commercial Bank of China Ltd (ICBC), the world’s biggest lender, and Nigeria’s central bank also signed a deal on yuan transactions.

“It means that the renminbi (yuan) is free to flow among different banks in Nigeria, and the renminbi has been

included in the foreign exchange reserves of Nigeria,” Lin Songtian, Director General of the African Affairs Department of China’s foreign ministry, told reporters.

The agreement was reached following a meeting between Buhari and Chinese President Xi Jinping. A currency analyst at Ecobank Nigeria Limited, Mr. Kunle Ezun, had told THISDAY that despite the excitement that trailed the Yuan currency swap deal, the fundamentals of Nigeria’s forex market were still weak.

Sterling Bank Assures Stakeholders of Better Performance Goddy Egene Stakeholders of Sterling Bank Plc have been assured of better services and returns on investment despite the current economic headwinds. The chairman of the bank, Mr. Asue Ighodalo gave the assurance at the 54th annual general meeting in Lagos, saying the bank would continue to focus on building key capabilities. “We will actively support policies designed to build a sustainable Nigerian economy over the next decade through the provision of inclusive customer-focused services,” he said.

According to him, the board

and management have committed to “rolling up our sleeves” and implementing several initiatives aimed at positioning that bank as an efficient and systemically important operator, delivering superior returns to stakeholders.” He told the shareholders that despite the challenging environment, the bank delivered commendable set of results in 2015. “Profit after tax for 2015 was up 14.3 per cent to N10.3 billion, boosted by improved operating efficiency. Shareholders’ funds grew by 12.8 per cent to N96 billion in 2015, from N85 billion in 2014, driven by accretion from the current year’s profit, a

reflection of the bank’s resilience and increasing market reach.

The board has proposed a final dividend of 9 kobo per share for the financial year,” Ighodalo said. He noted that the bank remains steadfast in its quest to build long-term, sustainable value for its stakeholders in the global Sustainable Development Goals and the Central Bank of Nigeria’s sustainable banking principles. Also speaking, the Managing Director/Chief Executive Officer of Sterling Bank Plc, Mr. Yemi Adeola said the performance of the bank in 2015 was a testament to the underlying resilience of its business model.

Azudialu-Obiejesi to Speak at LSE Africa Summit The Group Managing Director of the Obijackson Group, Dr. Ernest Azudialu- Obiejesi is scheduled to speak at the London School of Economics and Political Science (LSE) Africa Summit on Saturday 23 April 2016. In its third year, the annual summit is an assemblage of prominent business leaders, decision makers from an array of African governments, the private sector, as well as global collaborators working across Africa.

Past speakers of the Summit

included Vice-President of Nigeria, Yemi Osinbajo; Minister of Commerce of Cote d’Ivoire, Hon. Jean Louis Billon, and a Senior Partner at McKinsey & Company, Acha Leke According to a statement, the 2016 edition of the summit, with a focus on Africa within a global context, will discuss how countries on the continent can capitalise on opportunities and address challenges shaped by their position in a global context.

Azudialu- Obiejesi who will

be on the energy panel along other accomplished individuals and business leaders, will discuss opportunities and challenges facing the Africa’s energy sector.

His perspectives will reflect his several years of involvement in the Nigerian energy sector with references to his experiences managing arguably West Africa’s foremost wholly indigenous conglomerate which include Century Power Limited, Nestoil Limited and Neconde Energy Limited.

MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

FEBRUARY 2016 Broad Money (M2)

20,489,166.72

-- Narrow Money (M1)

9,095,578.34

---- Currency Outside Banks

1,377,483.11

---- Demand Deposits

7,682,095.23

-- Quasi Money

11,429,588.38

Net Foreign Assets (NFA)

5,471,351.78

Net Domestic Assets(NDA)

15,017,814.94 22,414,322.75

-- Net Domestic Credit (NDC) ---- Credit to Government (Net)

3,424,029.62

---- Memo: Credit to Govt. (Net) less FMA

4,807,604.55

---- Memo: Fed. and Mirror Accounts (FMA)

1,383,574.93

---- Credit to Private Sector (CPS)

18,990,293.13

--Other Assets Net

7,396,507.81

Reserve Money (Base Money)

5,095,380.23

--Currency in Circulation

1,711,623.51

--Banks Reserves

3,383,756.72 • Source - CBN

MANAGED FUNDS Initial Price (N) Stanbic Balanced Fund

Buying Price(N)

Selling Price

1,660.29

1,685.29

Stanbic IBTC NEF

1,000.00

11,002.32

11,326.67.11

Stanbic SIBond

20

120.47

120.47

Stanbic IBTC Ethical

1

1.10

1.13

Stanbic IBTC GIF

142.90

143.38

UBA Balanced Fund

1.2563

1.2493

UBA Bond Fund

1.3443

1.3443

UBA Equity Fund

0.8205

0.8074

UBA Money Market Fund

1.1510

1.1510

ARM Aggressive Growth Fund

N13.0544

N13.4480

ARM Discovery Fund

N288.2515

N296.9425

ARM Ethical Fund

N22.5268

N23.2060

ARM Money Market Fund

13.1030 (Yield % ) • Monetary Policy Rate - 13%

OPEC DAILY BASKET PRICE AS AT MONDAY, 18 APRIL 2016 The price of OPEC basket of thirteen crudes stood at $36.58 a barrel on Monday, compared with $38.05 the previous Friday, according to OPEC Secretariat calculations.

The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Minas (Indonesia), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

SOURCE: OPEC headquarters, Vienna

53

T H I S D AY • WEDNESDAY April 20, 2016

Nigeria’s top 50 stocks based on market fundamentals

18-Apr-16

15-Apr-16

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

01 Dangote Cement Plc

161.03

160.97

0.04%

2,744,032,907,427.15

10.64

15.13

5.58

4.97%

4.26

02 Nigerian Brew. Plc.

104.50

106.00

-1.42%

828,591,042,796.00

5.37

19.47

3.00

3.44%

4.86

03 Nestle Nigeria Plc.

640.01

640.01

0.00%

507,307,927,842.52

29.95

21.37

3.35

4.53%

13.35

15.35

15.37

-0.13%

451,768,601,088.40

3.38

4.54

1.97

11.53%

1.09

278.57

278.57

0.00%

362,832,160,862.71

4.45

62.62

2.91

1.24%

7.84

06 Zenith Bank Plc

11.30

11.45

-1.31%

354,780,379,781.80

3.37

3.36

0.82

15.93%

0.60

07 Lafarge Africa Plc.

74.00

74.00

0.00%

337,062,733,940.00

5.93

12.48

1.26

4.05%

1.91

08 Ecobank Transnational Incorporated

14.00

13.87

0.94%

256,893,717,010.00

1.39

10.05

0.50

4.43%

0.69

332.15

332.15

0.00%

183,782,020,462.95

23.48

14.14

1.63

4.79%

0.65

10 Guinness Nig Plc

99.49

99.90

-0.41%

149,820,815,824.12

0.78

127.83

3.01

0.00%

3.35

11 Stanbic IBTC Holdings Plc

14.30

13.65

4.76%

143,000,000,000.00

2.04

7.02

1.21

0.70%

1.27

12 FBN Holdings Plc

3.30

3.33

-0.90%

118,454,466,213.60

2.16

1.53

0.30

30.30%

0.21

13 United Bank for Africa Plc

3.20

3.24

-1.23%

116,094,484,230.40

1.64

1.95

0.37

18.75%

0.35

29.25

29.25

0.00%

110,661,415,312.50

0.32

92.81

1.87

0.17%

13.83

3.62

3.69

-1.90%

104,719,257,304.22

2.28

1.59

0.31

15.19%

0.28

16 7-Up Bottling Comp. Plc.

147.00

147.00

0.00%

94,166,783,361.00

11.12

13.21

1.21

1.50%

3.92

17 P Z Cussons Nigeria Plc.

21.22

21.22

0.00%

84,253,522,894.90

1.10

19.34

1.16

6.13%

2.00

18 International Breweries Plc.

20.00

20.00

0.00%

65,884,985,600.00

0.64

31.29

3.56

1.25%

5.47

19 Dangote Sugar Refinery Plc

5.17

5.25

-1.52%

62,040,000,000.00

0.96

5.38

0.61

9.67%

1.07

43.00

43.00

0.00%

56,760,000,000.00

1.85

23.26

0.42

3.49%

2.34

21 Mobil Oil Nig Plc.

151.25

151.25

0.00%

54,540,033,377.50

13.51

11.19

0.85

4.76%

3.55

22 Total Nigeria Plc.

159.00

159.00

0.00%

53,983,972,083.00

11.92

13.34

0.26

8.81%

3.32

19.36

19.36

0.00%

50,805,231,940.32

1.84

10.52

0.15

10.33%

0.50

24 Oando Plc

4.18

4.56

-8.33%

50,304,706,976.92

0.50

8.36

0.09

17.94%

0.32

25 Sterling Bank Plc.

1.56

1.56

0.00%

44,913,052,276.56

0.36

4.36

0.41

5.77%

0.47

19.40

19.40

0.00%

37,264,769,107.80

2.70

7.19

0.51

5.15%

0.50

0.96

1.00

-4.00%

37,172,157,528.00

0.05

18.30

0.91

0.00%

0.42

35.01

35.01

0.00%

35,010,000,000.00

3.28

10.68

3.08

0.29%

1.56

29 Fidelity Bank Plc

1.18

1.24

-4.84%

34,175,851,116.56

0.48

2.46

0.23

13.56%

0.19

30 Diamond Bank Plc

1.41

1.30

8.46%

32,656,148,444.88

0.92

1.54

0.17

21.28%

0.15

31 Okomu Oil Palm Plc.

32.00

32.00

0.00%

30,525,120,000.00

2.76

11.60

3.13

0.31%

2.53

32 Glaxo Smithkline Consumer Nig. Plc.

24.97

24.97

0.00%

29,861,035,905.36

0.81

30.94

0.97

1.20%

2.26

0.73

0.70

4.29%

28,159,360,239.13

0.06

12.10

0.61

0.00%

0.61

34 Cadbury Nigeria Plc.

14.77

14.77

0.00%

27,741,044,130.80

3.21

4.61

0.82

8.80%

2.68

35 Cap Plc

38.50

38.50

0.00%

26,950,000,000.00

2.49

15.49

3.82

2.99%

17.73

36 Custodian And Allied Insurance Plc

3.90

3.90

0.00%

22,939,270,360.50

0.71

5.46

0.77

5.13%

0.88

37 Mansard Insurance Plc

2.04

2.04

0.00%

21,420,000,000.00

0.16

12.89

1.29

2.45%

1.23

38 National Salt Co. Nig. Plc

7.40

7.40

0.00%

19,605,843,997.20

0.79

9.31

1.21

7.43%

2.77

39 FCMB Group Plc.

0.94

0.92

2.17%

18,614,548,134.14

0.24

3.91

0.12

10.64%

0.11

40 Skye Bank Plc

1.01

0.97

4.12%

14,019,104,424.10

0.85

1.18

0.10

29.70%

0.10

41 Honeywell Flour Mill Plc

1.38

1.36

1.47%

10,943,672,768.04

0.14

9.77

0.22

11.59%

0.51

42 Continental Reinsurance Plc

1.01

1.01

0.00%

10,476,471,755.12

0.21

4.89

0.53

0.00%

0.67

43 Cement Co. Of North.Nig. Plc

6.68

7.03

-4.98%

8,394,607,476.88

0.96

6.99

0.64

1.50%

0.83

44 Unity Bank Plc

0.70

0.70

0.00%

8,182,536,559.40

0.54

1.29

0.13

0.00%

0.10

45 UACN Property Development Co. Limited

4.00

4.00

0.00%

6,874,999,980.00

1.81

2.21

0.61

17.50%

0.21

46 Wapic Insurance Plc

0.50

0.50

0.00%

6,691,369,126.00

0.10

5.16

0.94

6.00%

0.45

47 Nigerian Aviation Handling Company Plc

3.99

3.99

0.00%

6,480,632,812.50

0.33

12.05

0.76

5.01%

1.06

48 Resort Savings & Loans Plc

0.50

0.50

0.00%

5,664,866,202.00

4.68

0.11

0.02

0.00%

1.89

49 AIICO Insurance Plc.

0.69

0.72

-4.17%

4,781,841,091.20

0.28

2.50

0.15

7.25%

0.49

50 Fidson Healthcare Plc

2.10

2.10

0.00%

3,150,000,000.00

0.50

4.23

0.38

2.38%

0.50

04 Guaranty Trust Bank Plc. 05 Forte Oil Plc.

09 Seplat Petroleum Dev. Co. Ltd.

14 Unilever Nigeria Plc. 15 Access Bank Plc.

20 Julius Berger Nig. Plc.

23 Flour Mills Nig. Plc.

26 U A C N Plc. 27 Transnational Corporation Of Nigeria Plc 28 Presco Plc

33 Wema Bank Plc.

TOTAL

7,875,209,469,766.18

TOTAL MARKET CAP

8,480,006,139,246.50

% OF MARKET CAP Annotation - MA* = Simple Moving Average

92.87%

Table 1 Market Statistics Mkt Indicators

Open 18-Apr-16

NSE All Share Index NSE Market Cap (N'Trillion)

24,719.27 8.50

24,652.51 8.48

-0.27% -0.27%

101.36 7.89

101.14 7.88

-0.22% -0.22%

Thisday BGL 50 Index Thisday BGL 50 Market Cap (N'Trillion)

Close 19-Apr-16

Change %

Table 3 Top 5 Gainers Stock

Open Close Change 18-Apr-16 19-Apr-16 %

Diamond Bank Plc Stanbic IBTC Holdings Plc Wema Bank Plc. Skye Bank Plc FCMB Group Plc.

1.30 13.65 0.70 0.97 0.92

1.41 14.30 0.73 1.01 0.94

8.46% 4.76% 4.29% 4.12% 2.17%

Table 4 Top 5 Losers Stock

Open Close Change 18-Apr-16 19-Apr-16 %

Oando Plc Cement Co. Of North.Nig. Plc Fidelity Bank Plc AIICO Insurance Plc. Transnational Corporation Of Nigeria Plc

4.56 7.03 1.24 0.72 1.00

4.18 6.68 1.18 0.69 0.96

-8.33% -4.98% -4.84% -4.17% -4.00%

Market continues upward trend as ASI gains 0.45% Market pulse on the Nigerian Stock Exchange (NSE) today- Tuesday March 22nd, 2016, was positive as the market closed green thanks to 2015 full year earnings announcement by company’s coupled with dividend declaration much to the delight of investors. This was further highlighted by positive performance from the NSE Sub sectors; Banking and Insurance (Save Oil & Gas and Consumer Goods). Trading activities increased in volume as 344.12 million shares worth N2.460billion in 4,386 7deals exchanged hands today. This is an increase from the 412.47 million shares worth N2.06 billion in 3, 285 deals carried out on Monday. Topping in volume terms was Zenith Bank Plc, Fidelity Bank Plc and Afromedia Plc, while Nigeria breweries Plc and Zenith Bank Plc ended trading as the most active stocks in value terms.

The All Share Index (NSEASI) closed positive with a 0.45% (+117.37) increase to 26,020.32 from 25,902.95 the previous trading day. Market Capitalization appreciated in tandem to N8.95 trillion from N8.91 trillion of prior trading day. The Thisday BGL 50 Index followed suit with 0.53% increase to close at 106.76 from 106.20 the previous trading day, while its market capitalization stood at N8.31 trillion from N8.27 trillion of the previous trading day.

A total number of 15 stocks gained on the bourse today while 25 stocks declined, leaving 62 stocks unchanged.

Nigerian Breweries Plc emerged the toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 5.00% to close at N109.20 per share. It was followed Unilever Nigeria Plc with a gain of 4.99% to close at N30.92 per share. Others on the gainers list include: AIICO Insurance Plc, Fidelity Bank Plc and Skye Bank Plc while on the decliners’ list; Seplat Petroleum Dev. Co. Ltd led with a loss of 6.06% to close at N310.00 per share. It was followed

by Nigerian Aviation Handling Company Plc with a loss of 5.00% to close at N3.80 per share. Others on the losers list include; Wema Bank Plc, National Salt Co. Nig. Plc and P Z Cussons Nigeria Plc.

REQUIRED DISCLOSURE This report has been prepared by BGL Plc. BGL Plc does and seeks to do business with companies covered in its research reports. As a result, the firm may have a conflict of interest that could affect the objectivity of this report. Investors should use this report as one of many other factors in making their investment decisions.

For more details go to www.thisdaylive.com

54

T H I S D AY • WEDNESDAY, APRIL 20, 2016

MARKET NEWS

UBA’s Gross Earnings Decline in First Quarter, 2016 Goddy Egene and Eromosele Abiodun United Bank for Africa Plc yesterday released its results for the first quarter ended March 31, 2016. The bank posted gross earnings of N54.941 billion, showing a decline from N58.669 billion in the corresponding period of 2015. Net interest income rose

from N30.783 billion to N34.421 billion. Profit before tax stood at N18.083 billion, showing a decline from N18.389 billion in 2015, while profit after tax increased from N16.956 billion to N16.986 billion.

Market operators said the performance is a reflection of the economic headwinds and lull that characterised Q1.

However, reacting to the

T H E

results, analysts at Cordros Capital Limited said the bank’s annualised earnings per share(EPS)) of N1.96, outperformed both their estimate of N1.40 and consensus’ N1.48.

“Return on average equity (ROAE) remained at the 20 (recorded in FY’15), outperforming our forecast of 14.8 per cent. The outperformance may be attributed to positive

N I G E R I A N

STO C K

Prices for Securities Traded as of 19/04/2016 Printed 19/04/2016 16:42:26.026

1 BANKING S/N 2 OTHER FINANCIAL INSTITUTIONS FINANCIAL SERVICES INDUSTRIAL GOODS S/N 3 BUILDING MATERIALS INDUSTRIAL GOODS PREMIUM BOARD TOTALS Price List (Equities) PRICES FOR MAIN BOARD SECURITIES AGRICULTURE S/N 5 6 CROP PRODUCTION S/N 7 FISHING/HUNTING/TRAPPING S/N 8 LIVESTOCK/ANIMAL SPECIALTIES AGRICULTURE CONGLOMERATES S/N 9 12 13 14 DIVERSIFIED INDUSTRIES CONGLOMERATES CONSTRUCTION/REAL ESTATE S/N BUILDING CONSTRUCTION S/N BUILDING STRUCTURE/COMPLETION/ OTHER S/N 18 INFRASTRUCTURE/HEAVY CONSTRUCTION S/N 20 REAL ESTATE DEVELOPMENT S/N REAL ESTATE INVESTMENT TRUSTS (REITS) CONSTRUCTION/REAL ESTATE CONSUMER GOODS S/N 24 AUTOMOBILES/AUTO PARTS S/N 25 26 27 28 30 BEVERAGES--BREWERS/DISTILLERS S/N 32 BEVERAGES--NON-ALCOHOLIC S/N 33 34 35 37 38 39

FOOD PRODUCTS BANKING ZENITH INTERNATIONAL BANK PLC OTHER FINANCIAL INSTITUTIONS FBN HOLDINGS PLC

PRICE

%CHANGE

TRADES

VOLUME

361,687.61

11.52

1.95

363

29,713,738

363

29,713,738

TRADES

VOLUME

S/N 46

MARKET CAP(Nm)

PRICE

%CHANGE

119,890.28

3.34

1.21

BUILDING MATERIMARKET ALS CAP(Nm) DANGOTE CE2,743,521.69 MENT PLC

CROP PRODUCTION OKOMU OIL PALM PLC. PRESCO PLC FISHING/HUNTING/ TRAPPING ELLAH LAKES PLC. LIVESTOCK/ANIMAL SPECIALTIES LIVESTOCK FEEDS PLC. DIVERSIFIED INDUSTRIES A.G. LEVENTIS NIGERIA PLC. S C O A NIG. PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC.

S/N

MARKET CAP(Nm)

207

6,119,620

207 570

6,119,620 35,833,358

PRICE

%CHANGE

TRADES

VOLUME

161.00

-0.02

49

517,962

49 49 619

517,962 517,962 36,351,320

PRICE

%CHANGE

TRADES

51

17

92,552

-

MARKET CAP(Nm)

8 25

10,400 102,952

PRICE

%CHANGE

TRADES

VOLUME

511.20

4.26

-

0

0

53

0

0

54

52

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

1,900.00

0.95

-1.04

39

4,571,285

56

39 64

4,571,285 4,674,237

57

3.95

5

70,000

2,573.31

3.96

-

1

100

40,657.05

1.00

4.17

68

3,159,111

35,401.53

18.43

-5.00

49 123 123

474,908 3,704,119 3,704,119

BUILDING CONSTRUCTION

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

BUILDING STRUCTURE/COMPLETION/OTHER

0

0

MARKET CAP(Nm)

PRICE

TRADES

VOLUME

1

38,721

DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC N NIG. FLOUR MILLS PLC. NASCON ALLIED INDUSTRIES PLC P S MANDRIDES & CO PLC.

PERSONAL/HOUSEHOLD PRODUCTS CONSUMER GOODS FINANCIAL SERVICES

-4.75

0.79

FOOD PRODUCTS

49

35.01

2,091.36

BEVERAGES-NON-ALCOHOLIC 7-UP BOTTLING COMP. PLC.

48

30.48

VOLUME

BEVERAGES-BREWERS/DISTILLERS CHAMPION BREW. PLC. GOLDEN GUINEA BREW. PLC. GUINNESS NIG PLC INTERNATIONAL BREWERIES PLC. NIGERIAN BREW. PLC.

S/N

29,075.18

TRADES

AUTOMOBILES/ AUTO PARTS DN TYRE & RUBBER PLC

HOUSEHOLD DURABLES

35,010.00

%CHANGE

REAL ESTATE INVESTMENT TRUSTS (REITS)

FOOD PRODUCTS--DIVERSIFIED

50

PRICE

REAL ESTATE DEVELOPMENT UACN PROPERTY DEVELOPMENT CO. LIMITED

44

VOLUME

MARKET CAP(Nm)

INFRASTRUCTURE/HEAVY CONSTRUCTION JULIUS BERGER NIG. PLC.

43

S/N

MARKET CAP(Nm)

%CHANGE

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

56,760.00

43.00

-

6

19,910

6

19,910

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

6,875.00

4.00

-

8

14,068

8

14,068

TRADES

VOLUME

0 15

0 72,699

MARKET CAP(Nm)

PRICE

%CHANGE

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

2,386.33

0.50

-

3

528,000

3

528,000

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

24,271.44

3.10

-

5

44,869

242.22

0.89

-

1

1,000

150,347.88

99.84

0.35

43

123,324

65,884.99

20.00

-

1

500

812,732.84

102.50

-1.91

131

769,295

181

938,988

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

94,166.78

147.00

-

12

9,320

12

9,320

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

62,040.00

5.17

-

16

154,689

50,805.23

19.36

-

46

252,519

55

58 59 60 BANKING S/N 61 62 63 65 67 70 73 74 77 80 83 87 INSURANCE CARRIERS, BROKERS AND SERVICES S/N 89 MICRO-FINANCE BANKS S/N 91 94 MORTGAGE CARRIERS, BROKERS AND SERVICES S/N 95 96 98 102 103 OTHER FINANCIAL INSTITUTIONS FINANCIAL SERVICES HEALTHCARE S/N HEALTHCARE PROVIDERS

10,547.16

1.33

-3.62

34

2,388,046

1,185.03

6.65

-

1

3,000

19,605.84

7.40

-

34

553,393

S/N

214.00

5.35

-

2

100

108

the interest income and interest expense lines than we had estimated. Interest income fell by 6.4 per cent (7.0 per cent behind our estimate) as loans grew by only 1.2 per cent while interest expense slumped by 26 per cent (16.5 per cent behind our estimate),” they said.

The analysts said non-interest income fell by 25 per cent, and came roughly behind their

estimate (6.4 per cent variance).

“The decline was majorly as a result of a slump in net trading income (-71.1 per cent) which was impacted by a drop in foreign exchange income.

Importantly, fee income remained resilient, as a 45.1 per cent rise in other fees muted the impact of a 55.1 per cent decline in account maintenance fee charges,” they added.

E XC H A N G E

40

Price List (Equities) PRICES FOR PREMIUM BOARD SECURITIES FINANCIAL SERVICES S/N

surprises on the banks cost’s lines: interest expense (-26.4 per cent), operating expense (-1.5 per cent) and loan loss charges (57.2 per cent),” they said.

The analysts noted that net interest income increased by 11.8 per cent from the previous year and was roughly in line with their estimate.

“The low interest environment had a greater impact on both

S/N MEDICAL SUPPLIES

TIGER BRANDED CONSUMER GOODS PLC FOOD PRODUCTS-DIVERSIFIED CADBURY NIGERIA PLC. NESTLE NIGERIA PLC. HOUSEHOLD DURABLES VITAFOAM NIG PLC. PERSONAL/ HOUSEHOLD PRODUCTS P Z CUSSONS NIGERIA PLC. UNILEVER NIGERIA PLC.

12,050.00

MICRO-FINANCE BANKS NPF MICROFINANCE BANK PLC MORTGAGE CARRIERS, BROKERS AND SERVICES ASO SAVINGS AND LOANS PLC UNION HOMES SAVINGS AND LOANS PLC. OTHER FINANCIAL INSTITUTIONS AFRICA PRUDENTIAL REGISTRARS PLC CUSTODIAN AND ALLIED PLC FCMB GROUP PLC. STANBIC IBTC HOLDINGS PLC UNITED CAPITAL PLC

4.78

23

1,030,185

156

4,381,932

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

27,741.04

14.77

-

21

59,932

507,307.93

640.01

-

63

37,119

84

97,051

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

5,326.78

5.42

-

2

203

2

203 VOLUME

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

80,799.21

20.35

-4.10

18

95,908

110,661.42

29.25

-

38

114,024

56 494

209,932 6,165,426

MARKET BANKING CAP(Nm) ACCESS BANK 107,033.50 PLC. DIAMOND BANK 31,034.92 PLC ECOBANK TRANSNATIONAL 269,738.40 INCORPORATED FIDELITY BANK 33,900.51 PLC GUARANTY TRUST 462,069.51 BANK PLC. SKYE BANK PLC 14,157.91 STERLING BANK 44,913.05 PLC. UNION BANK NIG. 76,888.56 PLC. UNITED BANK FOR 119,722.44 AFRICA PLC UNITY BANK PLC 7,948.75 WEMA BANK PLC. 28,545.10 INSURANCE CARRIERS, BROKERS AND SERVICES AFRICAN ALLIANCE INSURANCE COMPANY PLC AIICO INSURANCE PLC. AXAMANSARD INSURANCE PLC CONTINENTAL REINSURANCE PLC EQUITY ASSURANCE PLC. GUINEA INSURANCE PLC. LASACO ASSURANCE PLC. LAW UNION AND ROCK INS. PLC. N.E.M INSURANCE CO (NIG) PLC. REGENCY ALLIANCE INSURANCE COMPANY PLC STANDARD TRUST ASSURANCE PLC WAPIC INSURANCE PLC

2.41

PRICE

%CHANGE

TRADES

VOLUME

3.70

2.21

188

6,139,279

1.34

-4.96

34

2,608,620

14.70

5.00

71

1,153,190

1.17

-0.85

69

5,918,400

15.70

2.28

288

29,811,746

1.02

0.99

56

3,104,469

1.56

-

23

576,721

4.54

-4.82

25

286,712

3.30

3.13

251

62,208,549

0.68 0.74

-2.86 1.37

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

10,292.50

0.50

-

1

1,000

4,781.84

0.69

-

10

549,318

22,050.00

2.10

2.94

7

105,293

10,683.93

1.03

1.98

14

850,400

7,000.00

0.50

-

27

5,085,907

3,070.00

0.50

-

1

16,800

3,661.72

0.50

-

0

0

1,924.91

0.56

-3.45

50

9,713,044

4,224.40

0.80

3.90

32

10,627,354

3,334.38

0.50

-

1

50

3,070.54

0.50

-

2

2,100

6,691.37

0.50

-

3

8,840

148

26,960,106

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

2,652.50

1.16

-

10

318,000

10

318,000

16 5,214,403 13 6,539,600 1,034 123,561,689

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

7,370.87

0.50

-

3

150,100

4,179.69

4.28

-

2

500

5

150,600

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

5,000.00

2.50

2.88

61

1,158,851

22,939.27

3.90

-

6

27,745

18,812.58

0.95

1.06

84

8,033,669

143,000.00

14.30

-

8

7,734

8,880.00

1.48

1.37

125

9,734,304

284 18,962,303 1,481 169,952,698

HEALTHCARE PROVIDERS

MARKET CAP(Nm)

PRICE

MEDICAL SUPPLIES

MARKET CAP(Nm)

PRICE

PHARMACEUTICALS FIDSON HEALTHCARE PLC

MARKET CAP(Nm) 3,225.00

%CHANGE

TRADES

VOLUME

0

0

%CHANGE

TRADES

VOLUME

0

0

PRICE

%CHANGE

TRADES

VOLUME

2.15

2.38

10

163,315

WEDNESDAY APRIL 20, 2016 • T H I S D AY

55

NEWSEXTRA

Report: Only Eight States Have Database of Poor and Vulnerable Only eight states have captured their poor and vulnerable on the federal government’s single register database, a report of the Federal Ministry of Finance

has shown.

The 2016 report entitled: “Targeting the Poor and Vulnerable in Nigeria: Use of a Single Register” revealed that the

Witness Contradicts Self During Badeh’s Trial Alex Enumah in Abuja A prosecution witness of the Economic and Financial Crimes Commission (EFCC), Air Commodore Salisu Yushau, yesterday admitted that most of the information he gave in evidence in the trial of former Chief of Defence Staff (CDS), Air Marshall Alex Badeh, was not part of information given to the commission when he made his statement last year.

The witness, a former Director of Finance, Nigerian Air force Headquarters, disclosed this during cross examination by Akin Olujimi (SAN), lead counsel to Badeh.

Badeh, alongside his firm, Iyalikam Nigeria Limited, is being prosecuted by the EFCC on a 10-count charge of money laundering bordering on alleged fraudulent removal of about N3.97 billion from the Nigerian Air Force’s account.

The anti-graft agency accused Badeh of using the fund to buy and develop landed assets in Abuja for himself and two of his sons between January and December 2013.

He however pleaded not guilty to the charges.

At the resumed hearing, the witness who was subjected to further cross examination admitted that most of the statements he made as evidence in court were not contained in his earlier statement with the EFCC. According to the defence counsel, Yushau so far made only five distinct statements with the EFCC. When asked by the defence counsel the reason he left out substantial part of the evidence when he made the statement, he said his answers were only based on the questions he was asked by the EFCC. But when also asked whether he told the EFCC that he had more to say during the interrogation then, he said he did not.

The witness further contradicted himself when he was cross examined on the mode of payment for a shopping complex purportedly belonging to Badeh.

Yushau had earlier told EFCC in one of his statement that the money for the development of the shopping complex was paid in dollars at once, but later admitted it was an error. “I cannot remember saying ‘once’ but if I said so, it was an error,” the witness said.

Also, when questioned on his relationship with one Saka, the witness disclosed that based on the directive of his boss, he had engaged Saka to draw the building plan for the shopping complex.

And when asked if he was the one who paid Saka for the drawing project, he initially said the man was not paid, only for him to turn around to say he

asked Mustapha Yerima, the Managing Director, Ryte Builders, the construction company that handled the shopping complex, “to give something to Saka.”

Yushau said: “After the construction job was given to Yerima, an engineer, on the instruction of my boss, I called him to give Saka ‘something’ since the job was not given to him, and I was told he gave him N10 million.”

On the balance payment for the land acquired for the shopping complex, the witness admitted instructing the Command Finance Officer (CFO) of the Nigerian Air Force Headquarters to pay the balance; but maintained that he never instructed that the money be transferred in naira to Ryte Builders Limited account.

“I was aware that N558 million was in NAF account when I instructed the CFO to pay after he was supposed to change it to dollars. Instead, he transferred the money in naira into the account of Ryte Builders.

I did not ask him to transfer the balance in naira,” the witness said.

“Will it surprise you that the evidence you gave was different?

What you told the court with regards to the payment for the construction was different from the evidence you gave.

“From your evidence, you instructed Group Captain Sinni, the then Command’s Finance Officer, to pay the balance of the payment for the land to Yerima from the money you took to your boss every month but later when you visited EFCC, you said Sinni paid in dollars,” Olujimi stated.

Responding, the witness admitted that he did tell EFCC that Captain Sinni paid the money in dollars but that he had already made his statement before realising that it was transferred from NAF account to Rytebuilders account.

“That statement was given before I knew that my CFO transferred the money in naira instead of paying him in dollars.”

Yashau maintained.

On the property at No. 6, Ogun River Street, Maitama, Abuja, a property purportedly owned by Badeh, the witness admitted knowing one Hussein Umar, who on the instruction of his boss, Badeh, was used to buy the property.

He stated that when Umar got a choice property, he took him and his boss to inspect the property before it was purchased.

But when asked if he included such in his statement with the EFCC, he said ‘no’. “In your statement with EFCC, did you say you went with Badeh? “I did not say so,” the witness answered.

The defence counsel also put it to the witness, that all he said in evidence in the court were not stated in his statement with EFCC, to which he affirmed.

states are Bauchi, Cross River, Ekiti, Kogi, Kwara, Niger, Osun and Oyo. According to the report, the data was collected by the Youth Employment and Social Support Operations (YESSO) unit of the Federal Ministry of Finance in collaboration with the World Bank.

In 2013, the World Bank provided $300 million grant to YESSO to compile a nationwide Single Register targeting the poor and vulnerable in the society.

The register, according to the News Agency of Nigeria (NAN), is meant to be the basis for selecting beneficiaries for targeted intervention programmes such as public workfare, skills for job and conditional cash transfers.

So far, the register has a total of 1,435 communities and 35,561 households made up of 190,235

individuals from eight states alone.

In the report, the indices to determine the poor and vulnerable include “unable to eat properly,’’ “always in tattered clothes,’’ “unable to send children to school’’ and “live in poor housing units.’’

The programme uses a combination of targeting methods, including geographical targeting, community-based targeting and the application of a “proxy means test.’’

The report showed that in gathering the data, the six poorest local government areas in each state were identified and once there, the poor and vulnerable were identified through community gatherings.

An official from the Federal Ministry of Finance, who pleaded anonymity, revealed the present

administration’s intention to use the Single Register to source for the beneficiaries of its N5,000 cash transfer scheme.

“Social investment is a big deal for the current administration, which is why it has budgeted N500 billion for social welfare in the 2016 budget.

“Using the Single Register, it plans to reach one million youths, poor and vulnerable; so, getting the register right is very important.

“However, most states have not indicated interest for the database to be compiled for them, and since we are operating a federalist government, their invitation is necessary,” the source said.

On the setback for the nationwide compilation, the source said that many states lacked the political will to let the process be free and fair.

“In this exercise, from the governor down to the village chief, they have agenda. They want to hand us a list and we are expected to compute the names.

“On several occasions, a leader will not allow us to carry out our research because he wants to control the outcome.

“And, because we are determined to do the right thing, the work has been very slow,” the source said.

He also revealed the present administration’s plan to transfer YESSO and its Single Register of poor and vulnerable to the Office of the Vice President for effective monitoring.

The source added that YESSO would also work with the National Social Safety Nets Coordinating Office, directly supervised by the office of the vice president.

PARTNERING ON SECURITY

Lagos State Governor, Mr. Akinwunmi Ambode (right), with the Chief of Air Staff, Air Marshal Saddiq Baba Abubakar, during a courtesy visit to the governor at the Lagos House, Ikeja...yesterday

Grazing Bill Not before Senate, Say Senators Omololu Ogunmade in Abuja The Senate yesterday laid to rest the increasing agitation in the polity over a rumour that a bill, National Grazing Bill, seeking to create grazing fields across the country had passed second reading in the parliament.

The nation has been gripped with tension in the last two weeks over an allegation that a bill seeking to create a commission that will be empowered to seize plots of land in any part of the country and designate them as grazing reserves and pay compensation as it deems fit was being considered in the National Assembly, notably the Senate.

However, the Senate yesterday clarified issues over the allegation, saying the bill does not exist at all in the parliament.

Making the clarification on behalf of the Senate yesterday, Chairman, Senate Committee on Rules and Business, Senator Babajide Omoworare, said the bill was only introduced in the last Senate but was not passed and

had consequently expired with the seventh Senate.

He therefore asked Nigerians to disregard the rumour.

“Several distinguished senators of the Federal Republic of Nigeria have been inundated with the requests by members of the public concerning the dependency of a National Grazing Bill in the Senate.

This is to clarify that no such bill has been presented by the executive arm of government and none has so far been filled by any senator of the Federal Republic of Nigeria in the eighth Senate.

“For the avoidance of doubt, ‘A National Grazing Reserve Establishment and Development Commission Bill,’ was presented

by Senator Zaynab Kure (Niger Central) during the seventh Senate (2011-2015) which has now expired by the operations of law on June 6, 2015 in furtherance of Section 64(1) of the 1999 Constitution (as amended),” Omoworare said.

Earlier, Senator Enyinnaya Abaribe (Abia South) had raised a point of order during the plenary, where he explained that he had received over

a thousand calls from his constituents over the bill.

Abaribe said raising the matter had become compelling in view of the increasing wave of the rumour that the bill had passed second reading in the Senate in order to assuage the minds of Nigerians that the bill does not exist in Senate.

His submission complimented the words of Omoworare that the bill was only introduced by Kure in the seventh National Assembly and had expired with the seventh Senate.

“Mr. President, I have gotten more than 1,000 calls over the weekend and this has to do with something I consider is not before the Senate, a phantom thing that is not before the Senate - something called the Grazing Reserved Commission Bill and everybody is calling me and people are sending me text messages to the extent that when I explained to some of my constituents who called me and said there was no such thing before the Senate, they now turned around and said ‘the only reason why you are saying so is that you never go to the Senate; you must be an absentee member.

And when I asked where is this information coming from? They said the information was coming from the social media.

“Mr. President, the last time a Grazing Reserved Commission Bill came to this Senate was in the seventh Senate and was proposed

by Senator Kure who is no longer in the Senate. So, the reason why I am making this personal explanation is so that my constituents in Abia South will know that there is no such bill called Grazing Reserved Commission Bill before this Senate.

I have taken time to ask the clerk and every other person to say ‘where is this bill that has passed second reading? How did it pass second reading in my absence? And they said they also were in confusion that they had never seen such thing.

“So, I would like the Chairman of Rules and Business Committee to be able to tell this distinguished Senate whether he passed the bill in our absence when we were not all sitting here and it went through second reading before it got here.

That is all I have to say over this Mr. President,” Abaribe said.

56

WEDNESDAY APRIL 20, 2016 • T H I S D AY

NEWSEXTRA

Experts: Nigeria Risks Shaky Return as Africa’s Top Oil Producer Niger Delta not Sambisa forest, IYC tells presidency Chineme Okafor in Abuja Nigeria may have to remain Africa’s second largest crude oil producer after Angola for now until it is able to find solutions to emerging security challenges threatening the industry in the Niger Delta, according to industry experts.

The experts said following the country’s loss of its position to Angola last week emerging trend in security breaches on export pipelines and other facilities in the region posed great setbacks to the country clawing back lost output levels in the immediate future.

They told THISDAY yesterday in Abuja that the cost and time needed to restart production from the shut-ins at affected oil facilities were considerable factors that could also keep Angola’s production above Nigeria’s for now.

Their response to the development also came on a day the Ijaw Youth Council (IYC) told the federal government that its reported plan to designate oil vandals in the Niger Delta

as terrorists and deal with them like it is doing with Boko Haram terrorists was ill-mannered, stressing that the region was not Sambisa forest and so does not need such measure.

Latest data from the April Monthly Oil Market Report (MOMR) of the Organisation of Petroleum Exporting Countries (OPEC) showed that Nigeria’s crude oil production fell by 67,000 barrels per day (bpd) in March from 1.744 million bpd to 1.677mbpd, while Angola saw its oil output rise to 1.782mbpd within the same period.

The report reflects the continued shut-in of Nigeria’s popular crude oil grade Forcados following sabotage on the subsea Forcados pipeline and export terminal.

While Vice-President Yemi Osibanjo last week put the total loss per day at 250,000 barrels, Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, earlier said it was 300,000bpd.

However, one of the experts, Dr. Timothy Okon, who is the Group Chief Executive Officer of an economic think-tank, the

International Institute for Petroleum, Energy Law and Policy (IIPELP), said the government would have to sort out the prevalent governance issues in the Niger Delta region to allow for a steady production level.

Okon, however, noted that other oil producers would be glad Nigeria is experiencing such production shut-ins.

“The loss is temporary and has to do with the break in Trans Forcados line and the force majeure that had been declared. However, the issue that surrounds production losses in Nigeria is multifaceted and this particular instance has to do with militancy which is related to some issues surrounding the region and the president,” said Okon.

He further explained that: “I think anytime you lose 250,000bpd of production, it is significant especially in terms of the current price levels, and so it is important for the income of the state, and to deal with the issues immediately.

“Pipeline vandalism didn’t just start, it emanated from the failure

in politics and governance in the Niger Delta, and without making excuses for criminality, I think those issues have to be tackled at ground zero level which is the interaction of the local authorities with the state authorities.”

On the remote causes of the current security challenges and how long it could take to ramp up production levels, Okon said: “They are complicated. These are issues of pipeline protection which some of them are actually rackets that the government has stepped in to stop; issues around one of the militants facing corruption charges and then there are fundamental issues facing the pipeline security system.

“It is just loss of revenue, and in an oversupplied market, your competitors are glad that you have less to bring in, but I also do think that where you have shut down a production facility, restarting usually takes some times, so if we’ve shut facility for this long, restarting takes long and cost money.”

Meanwhile, the President of IYC, Udengs Eradiri, in a phone conversation with THISDAY said recent reports that the government plans to give to pipeline vandals the kind of treatment it gives to Boko Haram terrorists was not the best way to get over pipeline vandalism in the country.

Eradiri who faulted government’s repeated claims that pipelines in the region were often broken by militants, said there was no basis for such allegation and the planned military offensive.

According to him, “The Niger Delta region is not Sambisa forest, and so the presidency cannot just declare that it would treat the people living there as terrorists.”

Eradiri also chided the government for such ‘risky’ declaration at a time it is looking for investments for the country.

“His utterance is risky especially as he goes about wooing investors to invest in the country. Any pledge he is making to the international

investors are indirectly premised on the country’s oil resources which are all in the Niger Delta region.

“If he goes on with such talk about deploying the military to the region and treat its people as terrorists, he is in fact telling the investors he is courting that their investment would not be safe because such declaration could mean war on the region,” Eradiri stated.

He explained that the government has refused to understand that the issue was not about the people in the region but about its big political friends who are mostly involved in acts of vandalism.

Eradiri: “He is blaming the pipeline breaks on the militants, which of the militants is he talking about? The ones that are in the amnesty programme or the ones that are their friends. Has he even made efforts to find out who these people are? He is quick to blame the breaks on militants.”

2.9m Consumers Without Meters ThreeYears after Power Privatisation Chineme Okafor in Abuja The Nigerian Electricity Regulatory Commission (NERC) yesterday said it was uncomfortable with the fact that about 2.9 million households in Nigeria are yet to be metered by the 11 electricity distribution companies (Discos) since they took over operations of the network in 2013.

NERC said their refusal to provide electricity meters to their customers was a criminal act, adding they were ripping off consumers and that it would not accept it.

The acting head of NERC, Dr. Anthony Akah, stated at a meeting with the 11 Discos in Abuja that the commission was uncomfortable with the development as well as possible manipulation of data on total numbers of meters installed by the Discos across their network.

Akah stated that despite the commission’s introduction of an alternative meter funding scheme to enable the Discos close up the metering gap, they still failed to provide for consumer who have paid meters in their networks.

He noted that NERC was about to wind down the Credited Advance Payment for Metering Initiative (CAPMI) since most of the Discos have performed badly within it.

Akah said the commission would now go all out to protect electricity consumers in the country from the poor practices of the Discos in providing them with meters.

“In line with the policy trust of the Ministry of Power, we will work on progressive wind down of the CAPMI scheme. As NERC, we are going beyond our regulatory landscape because you have not embraced the scheme as it should.

“People are complaining of being unfairly billed, they are

not questioning the tariff as much as the fact that there is no noticeable improvement in supply.

We believe we have done what is closest to reflective tariff. We are being challenged, now there is no going back on our protection of the consumers, we are stepping up our enforcement,” Akah said.

He further said: “It is grossly unfair if I want estimated billing stopped and you don’t provide meters for me. We are working on a massive monitoring; we will ask for names of people who have paid but yet to be metered.”

Meanwhile, data contained in a NERC’s presentation to the operators on the level of metering in the sector showed that out of 6,159,775 consumers only 3,206,599 have been provided with meters, leaving a metering gap of 2,955,176.

A breakdown of the status Disco-by-Disco indicated that Abuja Disco with 635, 980 customers has metered only 421,812; Benin Disco with 762, 974 customers metered 520,702; Eko Disco metered 232, 908 customers that make up 407, 285 in its base; while Enugu Disco has 737,423 customers with 220,088 of them provided with meters.

Ibadan Disco which has the largest customer base of 1,247,187 has about 535,927 metered; Ikeja Disco has 667,931 customers but only 453,575 of them are metered; Jos Disco with a customer base of 329,858, has only 168,644 customers metered; Kaduna Disco has 351,359 customers with 219,201 provided with meters; and Kano Disco which covers the densely populated Kano State, Katsina State and Jigawa State has only 399,708 customers with 148,576 of them metered.

The Port Harcourt Disco has a customer base of 368,311 with 219,914 metered, while Yola with the least customer base of 256,759, has just 65,252 metered.

TOP PLAYERS

L-R, Director, Legal and Regulatory, Airtel, Shola Adeyemi; Chief Executive Officer, Teledom Group International, Dr. Emmanuel Ekuwem; and First Vice President, Association of Telecoms Companies of Nigeria (ATCON), Mr. Olusola Teniola, during the special reception held in honour of the Minister of Communications in Lagos ....recently.

Chibok Girls: NSA, Service Chiefs to Appear before Senate Today Omololu Ogunmade in Abuja The National Security Adviser (NSA), General Babagana Monguno (rtd), and service chiefs will today appear before the Senate to explain the reasons they have failed to rescue the school girls kidnapped in Government Secondary School, Chibok, Borno State, two years after.

Making the announcement while presiding over the plenary yesterday, Deputy Senate President, Ike Ekweremadu, said senators would meet with the service chiefs behind closed-door today at 1p.m.

The scheduled meeting with the service chiefs is in accordance with the resolution passed by the Senate last Thursday in commemoration of two years anniversary of the kidnap of

Chibok girls.

Last Thursday marked the second year anniversary of the abduction of 276 girls who were writing their Senior Secondary School Certificate Examination (SSCE) in the school by Boko Haram insurgents.

However, 57 of the girls escaped, leaving 219 of them in Boko Haram’s custody.

The national Assembly had commended the Bring Back Our Girls group for what it described as its doggedness and consistency in the campaign for the release of the girls.

The upper chamber which said it empathised with parents of the girls, also charged security agencies to do everything humanly possible to ensure the girls are rescued just as it urged the Borno State Government to rebuild the

school in the interest of students in the community.

Moving a motion on the prolonged hostage of the girls, Senator Dino Melaye (Kogi West), said the Senate was saddened by the continued captivity of the girls 731 days after their abduction.

He said whereas hope was raised on October 17, 2014, that the girls would be rescued following an announcement by the Nigerian Army of a truce between the insurgents and government agents, the hope was soon dashed as nothing came out of it.

Melaye regretted that beyond the videos released by the terrorists, none of the girls had been seen since April 14, adding that their families have continuously been traumatised by their long absence.

Noting that the abduction had

taken toll on Chibok community, the senator observed that 18 of the girls’ parents and four members of BBOG group have died since the abduction.

Melaye who further said the incident had had a negative effect on “us as a people,” added that the situation had attracted international condemnation and outrage as a result of government’s slow reaction to the menace.

He also said it was disheartening to note that the girls were still at the mercy of their cruel abductors as he lamented the psychological trauma the parents go through everyday.

The lawmaker lamented that the dreams and aspirations of the girls have been turned into nightmares as he insisted that the only option available to security agencies is the rescue of the girls

WEDNESDAY APRIL 20, 2016 • T H I S D AY

57

NEWSEXTRA

Ese Oruru: Court Reserves Ruling on Victim’s Secret Interrogation Senior Urhobo lawyers storm court as Yunusa Dahiru is remanded in prison

Emmanuel Addeh in Yenagoa

UPU to come in and protect that person. I think the prosecution Several Urhobo lawyers led did very well because I thought I

by Mr. Albert Akpomudje, a was going to take over but what Senior Advocate of Nigeria, he has done, he did very well,” (SAN), yesterday stormed the he said on the sidelines of the Federal High Court in Yenagoa, court session.

Anthony, youth leader of the Bayelsa State, in support of Ese Oruru, who was allegedly UPU, told THISDAY that the UPU abducted, sexually abused and decided to wade into the case impregnated by Yunusa Dahiru, considering the sensitivity of the matter and the way it was being a Kano indigene.

Akpomudje, National Secretary handled.

“When we weigh the issue of the Urhobo Progressives Union (UPU), the apex body of the and the way the matter was Urhobo ethnic nationality, who being handled, the UPU as announced his appearance the apex body of the Urhobo before the trial judge, Justice people, thought itswise that Aliya Nganjiwa, said he was we should come in so that we representing the Urhobo can argue the case properly, so that another Urhobo daughter interest in the matter.

Delta State, from where Miss or any other person will not be Oruru hails, and Bayelsa State, a victim of what has happened where she currently lives, have to Ese Oruru,” he said.

However, in the court room, recently come under heavy criticism over the lackadaisical Justice Nganjiwa adjourned manner they have approached trial until May 12, 2016, to the case which has drawn determine ruling on secret trial for the teenager. global attention.

Nganjiwa said the interest Also in court to lend their support to 14-year-old Oruru of the court was to ensure that who was absent in court, were justice prevailed in the matter.

Earlier in his argument, the the president of the youth wing of the organisation, Mr. Ovie police prosecution team led Anthony, and the women wing by Kenneth Dike, affirmed that it was the constitutional leader, Mrs Grace Usirare.

Akpomudje, a life member right of the victim (Ese) to get of the Body of Benchers, “fair trial.”

Dike, in an eleven paragraph expressed his satisfaction with the handling of the matter by affidavit to support his motion, the prosecution counsel, noting cited Section 36 Subsection 4, that he would formally write arguing that Oruru was a child the Inspector General of Police under 18 years.

“For the interest of justice, we (IG), to join the prosecution team.

“Our interest in this case, like I must protect her image and future; told the court, is that wherever any we are seeking the leave of the indigene of Urhobo is affected in court to take the evidence of the anyway, it is the responsibility of victim in private, excluding every

House Committee Cautions Ogoni Unity Against Crisis, Killings Ernest Chinwo in Port Harcourt The House of Representatives Committee on the Army investigating the February 22 and 23 military invasion of Ogoni communities of Rivers State has called on politicians in the area to he united against crises and killings in the area.

Chairman of the committee, Shawulu Kwewum, spoke yesterday in Port Harcourt after a fact-finding visit to Ogoniland over alleged killings of people of the area by operatives of the army.

He also said the committee would summon the military hierarchy over the killings and destruction of properties in the area during the invasion.

He said the committee would hear the military side of the story before coming to conclusion on the matter and submitting its report to the house.

He said the House is in a hurry to ensure that the people of Ogoni return to their normal life without fear of molestation or intimidation by the military.

He called on Ogoni politicians to come together regardless of their political affiliations and find a lasting solution to the

crisis and insecurity situation in Ogoniland.

The House of Representatives Committee on Army rounded off its fact finding visit to Rivers State with a visit to Yeghe, Zaakpon, Sime and Bori communities affected by the February 22 and 23 military invasion.

Members of the committee inspected the level of destruction of the house of ex-militant leader Solomon Ndigbara when they visited Yeghe community.

Other places visited by the federal lawmakers include Taabaa junction in Bori where over five people were killed including two Igbo brothers who operate a fast food in the area and a Berber.

The committee upon making a brief stop at Taaba junction at the Caravans where two Igbo brothers Kelechi and Linus Nwafor were shot dead allegedly by the Army, discovered litters of live bullets around the shops.

Members of the committee also met with family members of those killed and injured in Yeghe, Zaakpon and Bori communities as well as inspected the level of damage done to the senatorial office building of Senator Magnus Abe before rounding off their visit.

other persons except the parties and the counsel,” he said.

But the lead defence counsel, Mr. Kayode Olaosebikan, who opposed the application of prosecution counsel, said there was no merit in taking evidence in private.

He urged the court to dismiss the application for lack of merit, describing it as an attempt to secure a conviction before calling on any witness, since the age of the victim is also a matter for trial.

According to him, the pictures of the victim, Oruru, were already all over the internet, print and electronic media.

Outside the court room, Olaosebikan noted that it was wrong for the prosecution to ask for private trial from the

alleged victim, noting that what the team wants to prevent which has already taken place.

“What we have just told the court is basically what they are seeking to prevent has already happened. The prosecution is saying that they do not want the media to be in the know, they do not want the face of the girl to be in the media, they do not want the media to cover Ese trial.

“But our own position is that that ship has already sailed; the face of the girl is already in all media outlets you can see in this world. If you log on to the Internet now, you will be amazed. The last time I checked, I was shocked.

“I Just typed ‘Ese Oruru’, I had over 95,000 links. So, why

are they now coming to tell us that they do not want the girl’s face in the media,” he said.

On why his client remains in prison custody, the lawyer noted that Yunusa has not been able to meet the bail conditions because of the peculiarity of the conditions.

According to Olaosebekan, the publicity the case has generated and the bail condition which demands that the sureties must be resident in the jurisdiction of the court had been scaring away individuals who would have served as sureties.

“We have not been able to meet the conditions the court gave us such as the sureties must be resident here. So, it is such that when we get somebody to perfect the bail, they will say,

Dahiru, that boy that kidnapped our daughter, they will say, no.

“That is the problem we are having. So, I think there are legal procedures we have to follow to come back to court with necessary applications,” he noted Decked in a green traditional attire, Dahiru, who until now hasn’t met his bail condition was later taken back to the prison.

Justice Nganjiwa had on March 20, granted the accused person bail in the sum of N3 million and two sureties in like sum, who must be resident in the jurisdiction of the court, with one of the sureties a renowned title holder in the community and the other a public servant from level 12 and above.

ATTRACTING INVESTMENTS TO NIGERIA

L-R: Former Chairman, Senate Committe on Security and Intelligence, Senator Mohammed Magoro; Chairman, Novare Gateway Mall, Prof.

Fabian Ajogwu (SAN); and Minister of the Federal Capital Territory (FCT), Alhaji Mohammed Bello, at the groundbreaking ceremony of the mall in Abuja...yesterday Julius Atoi

Taraba Govt, Police Debunk Killing of 50 Cattle Breeders Wole Ayodele in Jalingo Taraba State Government and the state police authorities have described the purported killing of 50 cattle breeders in the state as falsehood, misleading and a calculated attempt to scale up the promotion of violence in the state.

The Chairman of state Miyetti Allah Cattle Breeders Association (MACBA), Alhaji Sahabi Mahmud, credited to have alleged that 50 cattle breeders were killed in a fresh crisis in the state which was reported in Daily Trust of April 13, 2016 edition.

In a statement made available to journalists in Jalingo which was signed by the Senior Special Assistant to the state governor on Media and Publicity, Mr. Sylvanus Giwa, the state government described the report as a calculated effort by the leadership of Miyetti Allah to make mockery of the recent

killings of 44 people in the state

by Fulani herdsmen.

In the same vein, the state police command has equally described the report as complete falsehood as it declared that there was no record or report of the purported killing, saying it was a figment of the imagination of the authors.

Debunking the report credited to Mahmud, the state Police Public Relations Officer (PPRO), Joseph Kwaji, said there was no such incident in the state, and wondered why such a sensitive report would not be cross checked with the police before publication.

According to him, “The report is not true. There is no such incident. I want to advise journalists to always cross check with the police before publishing such sensitive reports in the interest of peace and security.”

The statement issued by Giwa stated that: “The attention of Taraba State Government has been drawn

to a publication captioned: ‘50 cattle breeders killed in fresh Taraba crisis’ dated April 13, 2016, in the Daily Trust newspaper and credited to the chairman of Miyetti Allah Cattle Breeders Association, Taraba State chapter, Sahabi Mahmud.

“As a matter of fact, the report is not only misleading, false and mischievous but an attempt to scale up the promotion of crisis in the state. The purported publication is also a calculated effort by the leadership of Miyetti Allah to make a mockery of the victims of the recent attacks by the Fulani herdsmen who allegedly carry sophisticated weapons and use same to unleash terror on the harmless and helpless innocent people of Dori, Maisuma,Angai, and Fali villages in Gashaka and parts of kurmi Local Government Areas of the state.”

The state government further noted that the position of Miyetti

Allah as captured by the paper could best be described as a ploy to shield its members who are strongly suspected to be responsible for the attacks on the aforementioned communities.

To further puncture the allegations, Giwa noted that the Miyetti Allah chairman failed to present the photographs of his members who were purportedly killed in the crisis as was done by the police and the state government while presenting the gory details of the 44 people killed by the herdsmen.

He equally stated that it is unfortunate and disheartening that an association like Miyetti Allah Cattle Breeders of Nigeria is not looking at the need for oneness irrespective of background but weeping up religious sentiment into the recent attacks on the innocent villagers who have lived for decades without any crisis.

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Protests in Asaba over Fulani Herdsmen’s Activities Delta govt calls for restraint

Omon-Julius Onabu in Asaba Social and economic activities were yesterday disrupted for several hours in Asaba, the Delta State capital as thousands of people took to street to protest the growing involvement of Fulani herdsmen in criminal activities in the state.

The protesters - made up of men, women and youths - took over the strategic Summit Junction and barricaded both ends of the Benin-Asaba-Onitsha Expressway, halting vehicular movement on the expressway and into Asaba central business area.

The protesters wielded banners and placards with various inscriptions, forcing commuters to make detour into Asaba metropolis to get their destinations by avoiding the blockade on the expressway and the Summit Junction.

Most motorists, particularly

heavy duty vehicles were however stuck at the spot until the protesters dispatched at about 2.30p.m. after Governor Ifeanyi Okowa of Delta State was said to have sent emissaries to placate the aggrieved local security forces.

THISDAY gathered that the massive protest was organised by a coalition of local security bodies drawn from across the state.

The coalition is mainly made up of Anioma Security Watch, Delta South Security Network and Urhobo Security Network, alleging that the “government has failed in its primary responsibility of protecting lives by allowing herdsmen to be killing innocent and law-abiding citizens.

They claimed that they were protesting the illegal because of the illegal activities of Fulani herdsmen across various communities in the state as well as the seeming failure

of the state government to take decisive action on the matter.

The group further claimed that it took to the street as a last resort as a petitions they sent to the federal and state governments had not received any response after more than two months.

In a protest letter signed by Messrs Jacob Godwin, Henry Onwuamalieze and Warri Eriques, the group alleged that government at all levels were more concerned about protection of oil and gas facilities and installations at the expense of security of lives of the citizens.

Entitled: ‘Insensitivity of government and the inevitable war

against Fulani herdsmen,’ the letter also frowned at government’s action of drafting security agents during “election to cow perceived enemies and electorate to win such elections, but failed to address the deadly menace of Fulani herdsmen.”

According to the petition, “There have been several uncountable killings, robbery, kidnapping, sexual harassment, attacks and massive destruction of crops and farmland traced to the Fulani herdsmen but the government is never interested to arrest this ugly trend, maybe because it will not put money in their pocket neither promote their political activities.

“We are tired of counting our

losses, brutality, deprivation, emotional torture, pains, killings, weeping, hunger, lack and other sacrilegious act served us by the trigger happy and above the law Fulani herdsmen.

“We have advised government in our previous letters to provide grazing reserved areas within the three senatorial districts of the state, just as it is done in Lagos and some other states to checkmate the excesses as well as retrieve the steps of Fulani herdsmen from further unleashing terror on our people.”

However, reacting to the protest, Delta State Commissioner for Information, Mr. Patrick Ukah,

appealed for calm and patience among the citizens and particularly members of aggrieved communities, noting that the menace of herdsmen was a “national security issue which was very sensitive and needs to be handled with caution especially by the Media that informs the people.”

Speaking with journalists after the state executive council meeting, the information commissioner, “It will be appear as if the solution is slow but it has to be a bit slow because of the sensitivity. If you do not handle it well and make a pronouncement outside, it is enough to blow the roof. As we government, we can only pacify and sue for dialogue.”

Illegal Detention: Jonathan’s Cousin to File Contempt Proceedings against EFCC Alex Enumah in Abuja

that the money was paid for securing oil pipelines, and that Two businessmen allegedly being the federal government was still detained illegally by the Economic owing it $4 million.

Justice Olasumbo Goodluck had and Financial Crimes Commission (EFCC) have been advised by an on April 7 made an order granting FCT High Court to file contempt bail to the suspects pending their proceedings against the chairman formal arraignment by the EFCC. On April 12, the judge issued of the commission.

Justice Olasumbo Goodluck a production warrant for the yesterday advised counsel to commission to produce the Aziboala Roberts and Dakoru applicants in court.

At yesterday’s hearing, neither Atukpa, Managing Director and Executive Director and Project Roberts nor Atukpu were brought Director of Oneplus Holdings to court as ordered by the judge.

Counsel to EFCC F.A. Jirbo Limited respectively, to bring the forms 48 and other “proper had in a counter affidavit asked applications,” as “the court has the court to set aside the orders, maintaining that the commission a duty to take action.”

Counsel to Robert, Chris Uche had obtained remand warrant (SAN) and Gordy Uche (SAN) from a magistrate court to detain had informed the court that the the applicants.

One Plus Holdings, a conflict EFCC had ‘flagrantly’ disobeyed two orders of the court granting resolution consultants, was awarded contracts for peace bail to their clients.

He described the development building in the Niger Delta to as constituting ‘grave concern’ on secure the NNPC LNG projects the Administration of Criminal in Olokola and Brass.

The suspects claimed that Justice Act. Roberts and Atukpa have been their peace building initiative in EFCC detention since March and settlements in the area 23 on allegations of conversion demobilised many pipeline vandals of public funds to the tune of and encouraged oil production for $40 million from the office of the the country.

The judge adjourned the matter detained former National Security Adviser, Col. Sambo Dasuki (rtd). to April 26 for the defence to One Plus Holdings maintained respond to the counter-affidavit.

Spanish Embassy to Present Drama The Spanish Embassy in Abuja in partnership with Jos Repertory Theatre will present a theatrical performance on the play - Rinconcete y Cortadillo, on April 20 at Transcorp-Hilton Hotel, Abuja.

The play which is based on the novel written by the Spanish author Miguel de Cervantes, is the first event organised by the embassy in 2016. It also marks the death of the author who died 400 years ago.

According to a statement signed and made available to THISDAY by the embassy, “Rinconete y

Cortadillo is part of the exemplary novels written by Miguel de Cervantes and published in 1613, a period of troubled times, of crisis and splendour, in which the Renaissance gave way to the Baroque.

“All these novels contain a moral contest and are aimed at entertaining while setting a good example. Rinconete y Cortadillo tells the story of two young men, Pedro del Rincón and Diego Cortado, Rinconete y Cortadillo, that meet and decide to go to Sevilla where they join a thief guild led by Monipodio,” the statement added.

HOW CAN WE HELP?

L-R: Minister of Health, Prof. Isaac Adewole; Director, MTN, Mr. Dennis Okoro; and the Chairman, MTN Foundation, Prince Julius Adelusi Adeluyi, during a courtesy visit of MTN Foundation to the minister in Abuja....yesterday Julius Atoi

Environmentalists: Proposed Petroleum Industry Bill Wishy-washy Emmanuel Addeh in Yenagoa The Environmental Rights Action/ Friends of the Earth, Nigeria (ERA/FoEN), an environmental pressure group dedicated to the promotion of environmentally responsible activities yesterday described the renamed proposed Petroleum Industry Bill currently before the National Assembly as wishy-washy.

At a one-day ‘Environmental Parliament’ on the PIB in Yenagoa, Bayelsa State, ERA/FoEN’s Executive Director, Dr. Godwin Uyi Ojo, explained that as major stakeholders in the legislative interactive process, the meeting was to aggregate the views of communities before the passage of the bill by the National Assembly.

Ojo argued that though ‘shady provisions’ such as the excessive powers granted to the petroleum minister to nominate board members, the acceptance of gifts by the minister and the president, and the award of oil blocks and contracts by the president had been removed, the bill did not meet the expectations of the oil-bearing communities.

According to the

environmentalist, the document which has been renamed the Petroleum Industry Governance Bill delayed in the last National Assembly because the lawmakers succumbed to cheap blackmail by the oil companies which threatened to pull out of Nigeria.

“The bill was to serve as a conflict resolution law to ensure that the multifaceted problems of the industry, inefficiency, corruption and environmental degradation were curtailed.

“It was also to address the years of human rights violations and the clamour for environmental justice by the rural folks who are often the receivers of oil extraction impacts felt in their health, environment and livelihoods sources.

“Oil revenue allocation are often to the exclusion of rural folks and without tangible benefits, yet their rivers and farmlands are contaminated often leading to impoverishment,’’ the Executive Director argued.

He added that because there have been some resistance to the provision for 10 percent for impacted communities was not sufficient to jettison the idea,

noting that the removal from the Bill was unacceptable.

“The bill has not opened up the option to scrutinise the lax environmental and operational standards and practices of the oil industry at this stage. Instead, it has mostly built on current existing and faulty laws and practices assumed as the basis of the provisions of the bill.

“By avoiding to deal directly with contentious issues of quantity and volume of oil produced and standard measurements through metering, the bill attempts to kick the can down the road.

“There is the need to expand its provisions to accommodate these issues and many more. The Bill is wishy-washy, and, lacking strong teeth to bite and address the corporate impunity pervading the oil industry,’’ ERA/FoEN noted.

In his intervention, Dr. Simon Amaduobogba, a resource person at the event, said the oil industry has made many attempts to whittle on the bill’s ability to make them accountable.

“The bill is scanty. It has 91 sections divided into five parts.

The bill has nothing on what the powers of the President will

be, except for the unbundling of NNPC. “Once the current bill scales through, the lawmakers will jettison the people-centered one that the CSOs has been advocating,’’ he said.

He also criticised the bill for not having any section dealing with environmental protection, noting that the only mention of environmental issues is a mere reference to the powers of the Commission in Section 6(7).

He added that it was important to ensure that the public is given early and effective opportunity to participate in decision- making relating to operations that can potentially have significant effects on the environment.

Head, Legal Department ERA/ FoEN, Chima Williams, applauded the curtailment of the powers of the Minister of Petroleum Resources under the new bill, noting that it was remarkably different from the position of the previous bills and the Petroleum Act. Many participants who spoke at the event, also criticised the bill for being gender insensitive, too profit-driven and not taking the plight of the people in the area into consideration.

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Anti-corruption: Ekweremadu Calls for Special Courts EFCC decorates him as anti-corruption ambassador Omololu Ogunmade in Abuja The Deputy Senate President, Senator Ike Ekweremadu, has

called for the establishment of special anti-corruption courts to reduce the burden on regular courts and fast-track trial of

CPC Meets Fashola, Wants Operators Held Accountable for Abuses in Power, Housing Sectors Minister urges consumer to adjust to new reality James Emejo in Abuja The Consumer Protection Council (CPC) yesterday carried its campaign against consumer right abuses to the Minister of Power, Works and Housing, Mr. Babatunde Fashola, asking the minister to hold operators in the power and housing sectors accountable with regards to their contracts with consumers.

Speaking during a courtesy call on the minister in his Mabushi office, Abuja, the Director General of the Council, Mrs. Dupe Atoki, lamented that despite measures being put in place by the nation’s electricity industry regulators to ensure effective service delivery, CPC was still inundated with myriads of consumer complaints against operators in the sector.

She said some of these complaints included non-metering of consumers, which results in estimated and arbitrary billing of a huge consumer population; non-supply of infrastructure requirements, such as transformers, electric poles and cables to some business units, thereby forcing consumers to pay for same without reimbursement; and irregular disconnection.

Atoki further pointed out that in the housing sector, “many estate developers engage in the dubious practice of collecting money from unsuspecting consumers without delivering on the promise to provide them with houses,” adding that “even when houses are delivered to consumers, they are usually of very poor quality.”

She requested the minister to “evolve a quick means of reversing the compulsion of consumers by electricity Distribution Companies (DISCOs) to pay for services not rendered”, stressing that “business practice that compels consumers to pay for services not rendered

is clearly exploitative.”

In a statement by CPC spokesman, Abiodun Obimuyiwa, she also charged the minister to prioritise consumers’ interests in policy formulation in the power sector.

On consumers’ concerns in the housing sector, the director general observed that the uncontrolled activity of estate developers without proper regulation has not worked well for consumers and the housing sector, noting with dismay that “Self-regulation in the sector by professional bodies has only been protective of members (estate developers).”

Atoki advised the ministry to “introduce policies and regulatory measures that will, among others, set the ground norms for the licensing and operation of estate developers; standardise housing development; and check the arbitrary and unjust treatment of consumers in the housing sector.”

Responding, the Fashola commended renewed vibrancy of CPC, adding that “the CPC’s standing up will raise standards of service delivery, it will hold service providers, including myself, the ministry to account for the quality of service we render.”

He argued that much as the consumers are regarded as the king, they must also realise that they have duties to acquaint themselves “with the process under which electricity is now being provided.”

The minister said: “All of us must know that our service providers have changed. This is the beginning of ownership. Ownership is important because no DISCO can fix a tariff without your participation.

It is not possible. The discos must prove that people participated in the discussion for a new tariff.”

Court Orders Firm to Possess 1,561 Hectares in Ibeju Lekki A Lagos State High Court sitting in Epe has ordered Toll Systems Development Company Limited to recover possession of 1,561 hectares of land in Lakowe Village, Ibeju Lekki, Lagos.

Justice Muftau Olokoba made the order in Suit No. LD/4320/2014 pursuant to an application for possession entered by the firm against the defendant, an ‘unknown person’.

The application was supported by a 20-paragraph affidavit and a seven-paragraph further affidavit filed and deposed to by Mr. Adewale Odutola of 1, Mekunwen

Road, Off Oyinkan Abayomi Drive, Ikoyi.

The applicant averred that Toll Systems Development was the genuine owner of the 1,561 hectares by virtue of a Certificate of Occupancy No: 17/7/2003T dated October 27, 2003.

The claimant’s counsel, Mr. Ola Faro, urged the court to grant the firm possession “from any person who occupies the lands without the consent or permission of the claimant.”

Upholding the firm’s application, Justice Olokoba held: “The claimant has shown that he is entitled to possession.

corruption cases.

He made the call yesterday in his office while playing host to a team from the Economic and Financial Crimes Commission (EFCC), led by its National Assembly Liason Officer, Suleiman Bakari.

According to Ekweremadu, who was decorated by the EFCC on the occasion, as an Anti-corruption Ambassador, setting up special courts, was one of the surest ways to help the fight against corruption, as it would ensure speedy adjudication of corruption cases.

He further said: “I have been an advocate of special courts for the trial of corruption cases and I believe that other countries, who have enacted

laws establishing such, are not fools because there are benefits to be derived therefrom. The idea is to expedite trial to make sure that those who are involved in corruption matters will have their day in court.

“When we have special courts, just as we have the National Industrial Court, such courts will do better than they are doing now. The establishment of special courts is not just something that will be done by an Act of the National Assembly. We have to amend the constitution to bring it about under section 6, for the purpose of trying corruption cases.”

While advocating for value reorientation of Nigerians at all levels, with a view to returning to

values of the good old days, the Deputy President of the Senate also cautioned the EFCC to ensure that in fighting corruption, it must respect the rule of law and ensure that the provisions of the constitution regarding fair hearing and treatment of an accused are also respected.

While thanking the EFCC for decorating him as an Anti-Corruption Ambassador, Ekweremadu assured he that would live up to the trust reposed in him.

He further said the National Assembly would do everything within its powers to ensure that the bills before it, aimed at strengthening the fight against corruption, got speedy attention.

Earlier, leader of the EFCC delegation, Suleiman Bakari, appealed to the National Assembly to ensure adequate funding for the agency and advocated speedy passage of all the anti-corruption Bills before it.

In decorating Ekweremadu as an Anti-Corruption Ambassador, Bakari stressed: “It is therefore my honour your excellency, to on behalf of my Acting chairman, Mr. Ibrahim Mustafa Magu and the entire management and staff of the EFCC, decorate you as an Anti-corruption Ambassador and formally present this frame, as a token of our appreciation to your person and office, and as a symbol of institutional partnership between the EFCC and the National Assembly.”

REWARDING ‘HUSTLERS’

L-R Executive Director Business Development Investment, Mr. Kayode Akande, Miss Kofoworola George-Taylor, Mr. Ogbonna Kingsley, MD/CEO, Mr. Wilson Ideva, Olanike Oyediran; and Executive Director Operations and Services, Mr. Adamu Mele, during the presentation of Premium Pension #Reward4dhustleprizesinAbuja....yesterday

FG Loses N1bn to Ghost Workers, Says EFCC Adebiyi Adedapo in Abuja The Economic and Financial Crimes Commission (EFCC) said yesterday that the federal government had uncovered 37,395 ghost workers on the Federal Civil Service payroll and that the government lost about N1 billion to them.

The commission also said that there was a rise in the volume of procurement petitions to the commission on violations of the Public Procurement Ac The EFCC’s acting Chairman, Ibrahim Magu, made the disclosure during an anti-corruption sensitisation programme organised by the commission for staff of works and housing sectors.

The News Agency of Nigeria ( NAN) reports that Mr. Magu said that apart from the widespread procurement frauds in Ministries, Departments and Agencies (MDAs), the issue of ghost workers was a source of serious concern

to the commission.

“EFCC has uncovered 37,395 ghost workers in the Federal Civil Service and investigation is still going on. Our investigations have so far revealed that the federal government has lost close to N1 billion to these ghost workers. The figure will definitely increase as we unravel more ghost workers buried deep in Federal Civil Service payrolls.’’

According to the report, Magu explained that the commission had established a Procurement Fraud Unit in order to handle the increasing number of petitions relating to violations of the Public Procurement Laws.

He, therefore, advised civil servants to avoid any act that was in breach of public procurement, warning that violators risked terms of imprisonment and dismissal from service.

“In regard to procurement fraud, there has been a sharp rise in the number of petitions coming to the commission

relating to violations of the Public Procurement Act (2007). That is what informed my setting up a Procurement Fraud Unit which has since commenced investigation of procurement fraud cases, with some of those cases already in courts. Let me warn that civil servants found guilty under the Public Procurement Act risk terms of imprisonment ranging from five to 10 years, and in addition, may face dismissal from service. The commission is determined more than ever before to rid all MDAs of all forms of fraudulent activities.’’

The EFCC chairman also announced that the commission planned to place suggestion boxes at designated places for people to drop petitions and reports of corrupt practices, to assist the commission in the fight against corruption.

Also speaking, the Permanent Secretary (Works and Housing), Abubakar Magaji, said that as the drivers of government policies, MDAs should be in the forefront of compliance with public service

laws and regulations.

“It is rather sad that over time, the laws, regulations and standard practice governing the operations of the public service are being neglected and often abused, in many cases with impunity. The MDAs are expected to be in the forefront of compliance with extant laws and regulations, because they (MDAs), collectively, constitute the engine room of government. They are responsible for implementation of government policies and programmes. Therefore, the success or failure of such policies and programmes are fully on the shoulders of public officers.’’

Magaji announced that the Works and Housing sectors had resolved to regularly organise interactive sessions to re-orientate officers on the importance of compliance with extant laws, regulations and guidelines.

The sensitisation session featured paper presentations by staff of the EFCC on the legal and operational activities of the commission.

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Most Imported Goods are Substandard, Says Angya Crusoe Osagie The Standards Organisation of Nigeria (SON) yesterday stated that about 99 per cent of the goods imported into the country are substandard, noting that the agency has been directed by the Federal Ministry of Industry, Trade and Investment (FMITI) to reverse the scourge.

The Director General, SON, Dr. Paul Angya, explained that since the inception of the SON Conformity Assessment Programme (SONCAP) since 2005 to reduce the preponderance of fake and substandard goods in the country to the barest minimum, unscrupulous importers have not repented in their sinful ways to desist from the act.

The SON boss said substandard

products are the most talked about in the country catching the attention of the federal government, maintaining that the menace is so serious that it has almost diverted the federal government’s priorities in revamping the national economy.

However, he added that the standards body has been directed by the FMITI to reverse the trend within the next three months, a feat which he said would require all stakeholders and the public to help achieve.

Angya during a maritime stakeholders’ awareness forum in Lagos, noted that the Electronic Provisional Clearance Certificate (EPCC) which was closed as a result of importers abusing the platform to import fake and substandard goods into country will be reopened for

Rerun was Referendum Where Rivers People Endorsed our Leadership, Says Wike Ernest Chinwo in Port Harcourt

Rivers State Governor, Nyesom Wike, has declared that the March 19 rerun legislative elections in the state served as a referendum on the performance of his administration.

He said the people of the state resoundingly approved his proactive efforts to improve their lives through quality developmental projects and programmes by voting candidates of the Peoples Democratic Party (PDP).

Addressing the 103rd quarterly meeting of the state Council of Traditional Rulers in Port Harcourt yesterday, Wike said: “The March 19 elections were a referendum on our administration. It was a resounding approval of the good works we have done.”

He stated that his administration

has demonstrated commitment to the development of the state through the judicious application of resources.

The governor urged the traditional rulers to cooperate with

law enforcement agents and the state government to uproot cultists and criminal elements from their communities.

He assured the traditional rulers that he would continue to liaise with them in the process of governance to get their inputs for the development of the state.

“We will continue to hold traditional rulers in high esteem as custodians of customs and traditions,” he added.

In his remarks, the chairman of the council and Amanyanabo of Opobo, King Dandeson Jaja, Jeki V, commended the governor for reviving consultation with traditional rulers.

He called on the governor to continue to consolidate on the gains of security measures taken while improving on the welfare of traditional rulers in the state.

The meeting attracted traditional rulers from the 23 local government areas of the state.

effective use from April 25, 2016 to July 24, 2016.

He explained that the move by the agency is to give opportunities to genuine importers to clear their cargoes, saying that after the 90 days grace period, any import without SONCAP certification will be detained by SON,charged a fine of 20 per cent on the value of the goods and subjected to test.

“If the goods pass they are released to the stakeholders, if they fail, they will be destroyed and the importer also requested to pay for the destruction,” he said.

Angya during a maritime stakeholders’ awareness forum, stressed that the platform will be closed after three months, pointing out that the EPCC meant to fast track trade flow in line with World Trade Organisation (WTO) had resulted into massive importation of substandard goods into the Nigeria market where more than 60 per cent of imports are by passing the

globally recognized cancer-fighting organization was a result of the work that the NGO has been doing in raising awareness about breast and cervical cancer, through the LEAH Cancer Project.

He said the trustees and management of the foundation were excited at the information of its acceptance into the UICC and promised that the foundation, which has would double its effort at seeing that women, in its area of operation are saved from the cancer first through voluntary screening and treatment of identified cases.

He said that the foundation has established about 30 screening centres all over the state with the aim of giving access to people in the rural areas. “We have also started enlightenment and peer groups in secondary schools as well as some of the tertiary institutions in the country. Our aim is to remove the veil of ignorance covering the cervical and breast cancer by providing information. These are highest killers of women and we

associations in their goodwill messages restated their commitment to support the agency in its efforts to eradicate the prevalence of substandard goods in the country.

The President, National Association of Government Approved Freight Forwarders (NAGAFF), represented by the National Publicity Secretary, Mr. Stanley Ezenga, said over time freight forwarders have partnered SON to combat fake and substandard goods in the country, stating that the association is solidly behind SON to combat the scourge.

The State Coordinator, Safe Nigeria Freight Forwarders Association of Nigeria, Dr. Osita Chukwu, said his association is totally committed to eradicate the preponderance of substandard goods into the country.

“We are here to show our solidarity with SON on its new

drive to eradicate substandard goods in the country. What is not permissible in other countries should not be allowed in Nigeria.

Nigerians should demand for nothing less,” he said.

The Vice President, African Tyre Village, Mr. Okechukwu Ezeifeoma blamed trade associations are killing importers, stressing that there are so much trade associations at the port hindering trade development in the nation.

The Coordinator, Zonal Office, Association of Nigerian Licensed Customs Agents (ANLCA), Mr. John Ofodike, said Nigeria has no choice than to support SON its fight against substandard goods due to the vital role it plays in safeguarding lives and properties in the nation.

He commended the agency in its decision to reopen the EPCC, maintaining that it will help genuine importers to clear their cargoes at the ports.

RENDERING ACCOUNTS TO SHAREHOLDERS

L-R: Company Secretary, Industrial and General Insurance Plc (IGI), Mr. Abiodun Ajifolawe; Chairman, General Yakubu Gowon (rtd); and Managing Director, Mr. Rotimi Fashola, at the 23rd annual general meeting (AGM) of the company in Lagos ....yesterday Etop Ukutt

LEAH Foundation Admitted as UN’s ECOSOC, UICC Member LEAH Foundation, an Ilorin-based non-governmental organisation with focus on the eradication of cancer in women, has been admitted into the Union for International Cancer Control (UICC).

In a letter dated, March 24 and signed by Cary Adams, Chief Executive Officer of the UICC, the union, which is the largest cancer fighting organisation in the world, with a network of more than 900 members in 155 affiliate countries, expressed its delight to have the LEAH Foundation on board.

Adams further stated in the letter that: “We enter 2016 with strong foundations following the inclusion of a Non Communicable Diseases (NCDs) reduction target in the United Nations’ new Sustainable Development Goals (SDGs), which marks a new era of international development and an opportunity for us to grasp together with our members.”

Executive Director of the LEAH Foundation, Lanre Bello said gaining membership of the

regulation process using the EPCC and other gimmicks.

He said at this time in the history of Nigeria, the most talked about subject is the prevalence of substandard goods, maintaining that the menace has become so serious that the Ministry of Industry, Trade and Investment has given the agency three months to reverse the trend. ”It is my pleasure to host this forum to create awareness among you as regards the SON role in facilitating trade through Standards.

He said before September 10, 2015 , the SONCAP certification were carried out and hard copy certificates were issued for processing Form M and Pre-Arrival Assessment Report (PAAR), but stressed that the hard copy certificates were abused in all form by some stakeholders within the trade circle to the detriment of the Nigeria economy.

Representatives of trade

want our women to know that.

Bello informed further that the organization was working towards a hospital facility totally dedicated to the treatment of cancer although “we have worked with the University of Ilorin Teaching Hospital and the Sobi Specialist Hospital to treat patients in the past couple of years” He reiterated the organization’s readiness to collaborate with other bodies with identical mission towards the reduction of the cancer burden in the country.

The UICC brings together cancer leagues and societies; research institutes; treatment centres, hospitals, scientific and professional societies; ministries of health, public health agencies; and patient support organizations to shape cancer control on a global scale. Its main objective is to unite the cancer community to reduce the global cancer burden, to promote greater equity, and to integrate cancer control into the world health and development agenda..

Shettima: IDPs Eat 1,800 Bags of Rice Daily in Borno About 1,800 bags of 50 kilograms rice which constitute three trailer loads, are eaten daily by internally displaced persons in different parts of Borno State, Borno Governor, Kashim Shettima revealed yesterday in Abuja.

Shettima made the revelation in his keynote address at the ‘first annual dialogue on Rebuilding Peace in Borno State’ organised by a humanitarian advocacy group, AOA Global in collaboration with the state government.

The event had Ministers of Health, Professor Isaac Adewole, Solid Minerals, Kayode Fayemi, Statistician General of Nigeria, Dr Yemi Kale, the Director of the United States Agency for International Development, the UK Department for International Development, the UNDP, Norwegian government, other foreign and local development partners in attendance.

Shettima took time to highlight what he called the food emergency as a result of the influx of displaced

persons who were trapped by insurgents before they were recently freed by the military.

“As we speak, we are battling with a crisis of feeding mass of humanity in Borno. The Military has succeeded in rescuing communities that we trapped due to presence of Boko Haram insurgency on certain routes. This cheering rescue has led to mass exodus of internally displaced persons from these trapped communities to emergency camps we had to establish. “In Borno today, about 1,800 bags of 50 kilograms of rice which constitutes three trailers of 600 bags each, is required Daily to cater for internally displaced persons across the state and this does not include ingredients like tomatoes, vegetable oil, beans to balance carbohydrate, onions, salt and other elements. For our regular camps, a total of 984 bags of rice is consumed daily based on a Data Tracking Matrix of the International Organization on Migration working with the

National Emergency Management Agency and the Borno State Emergency Management Agency.

This figure of 978 bags is for the camps in Maiduguri and Jere, Dikwa, Bama and Damboa. For Maiduguri and Jere, 787 bags of rice are consumed daily for the 152,000 displaced persons in 17 camps and two relief points at Madinatu and Muna Garrage where distribution of food items are made to IDPs living outside camps in Maiduguri. For Dikwa which has 75,000 displaced persons, 101 bags are required daily.

“Bama requires 50 bags daily for 32,000 displaced persons while Damboa requires 40 bags daily. These are as per the Data Tracking Mtarix of the International Organization on Migration. There are areas where interventions are made on bi-weekly basis. In Gwoza for instance, two trucks totaling 1,200 bags of rice are conveyed every two weeks which comes down to 85 bags daily. In Banki, the same 1,200 bags in two trucks are conveyed every two weeks.”

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WEDNESDAY APRIL 20, 2016 • T H I S D AY

CRIME&PUNISHMENT Dogara: Rising Unemployment Contributing to Crime, Insurgency Damilola Oyedele in Abuja The Speaker of the House of Representatives, Hon. Yakubu Dogara, has described as unacceptable the growing rate of unemployment in the country, adding that it is a key contributor to the rise in crime and insurgency being experienced.

Dogara while speaking when he declared open the public hearing organised yesterday by the House Committee on Labour and Employment, lamented that unemployment in Nigeria was growing at 16 per cent annually, while about 50 per cent of eligible youth are unemployed or underemployed.

Represented by the Deputy

Minority Whip, Hon. Binta Bello, the Speaker expressed the commitment of the House to working with the executive arm of government to reduce unemployment.

The speaker also pledged the commitment of the legislature to collaborate with the organised private sector and other partners in the renewed drive to create sustainable employment for Nigerians.

The hearing was borne out of two resolutions: “Recruitment Firms and the Call for a State of Emergency and Legislative Intervention on the Employment Crisis in Nigeria” and presided over by the chairman of the committee, Hon. Ezenwa Onyewuchi.

The Director for Legal Services and Prosecution at the Federal Character Commission,

Mrs. Oluwatosin Bodunde, disclosed that payment for any job applications into the civil service was banned following the 2014 immigration tragedy where 20 applicants died in stampedes.

Applicants for the Nigerian Immigration Service (NIS)

recruitment had paid N1,000 each for application forms, to Drexel Nigeria Ltd, she recalled.

Bodunde added that apart from the military and police which were granted waivers due to the peculiarity of their recruitment processes, the

commission had ensured that the ban on sale of forms and scratch cards to applicants is enforced in all Ministries Departments and Agencies (MDAs).

Onyewuchi, in his opening address lamented that unemployment portends social

and economic challenges, as it reduces the purchasing power of citizens of the country.

This, he noted results in low consumption, lower rates of production and consequently hampers the drive for economic growth and development.

Niger Police Ban Fulani Herdsmen from Carrying Guns Laleye Dipo in Minna The Niger State Police Command has waged a fresh war against Fulani herdsmen in a bid to check kidnapping and cattle rustling.

The police have therefore outlawed the carrying of arms and ammunition by the herdsmen under any guise.

The decision of the police to ban the carrying of arms by the herdsmen followed an increase in the number of firearms recovered from the pastoralists in the last six months.

The state police spokesman, Bala Elikana, told journalists in Minna yesterday that in the last six months, 20 AK-47 rifles, 70 Dane guns, 30 double barrel guns and 1,000 rounds of live ammunition were recovered from the herdsmen.

Elikana said the police are aware that the herdsmen did not need firearms, adding that “what we know they need and carry is sticks and cutlasses, they don’t need guns to guide their animals.”

The police spokesman said any of the herdsmen who contravene the directive would be treated like animals and also prosecuted under the fire arms act of the country.

“Legally we are not aware they are carrying guns, if they are nursing such desires they should drop it or face the full wrath of the law,” adding that “we are aware they carry sticks and cutlasses to guide their cattle and nothing more.”

Bala Elikana said the police command had swung into action to monitor the herdsmen and warned them not to dream of carrying firearms or will be treated like armed robbers.

Elikana said recently the police recovered two AK 47 rifles with 10 rounds of live ammunition from Fulani kidnappers at Agaie-Lapai border.

He said the kidnapped victims were rescued, adding that during the exchange of fire, three of the suspected Fulani herdsmen were fatally injured while two others suffered minor injuries.

Gunmen Kidnap Wives of Kano Politician, Kill Two Vigilantes Ibrahim Shuaibu in Kano Police in Kano have confirmed that gunmen suspected to be kidnappers abducted the two wives of a prominent politician in Kibiya Local Government Area of the state.

The spokesman of the police, Musa Magaji Majia, told journalists yesterday that the incident occurred on Monday night.

He said the police commissioner and some officers had already visited Kibiya town to assess the situation.

It was also said the suspects stormed the residence of the

politician, Alhaji Garba Umar Fammar, around 2a.m.

The suspects numbering about 40, arrived the town on motorcycles with dangerous weapons.

An eyewitness spoke under anonymity that shortly after the arrival of the gunmen in the town, the suspects fired several shots into air to scare people before whisking the two wives to an unknown destination.

Two persons who were said to be members of the vigilante group, had also lost their lives during an encounter with the hoodlums in the town.

HARBINGERS OF PAIN AND MISERY

A scene of trailers falling on one another at Wharf Road in Apapa, Lagos...yesterday

Kolawole Alli.

Corpse Found in Woman’s Bedroom after Three Months

Police Parade 33 Suspected Car Thieves

Omon-Julius Onabu in Asaba

Yemi Akinsuyi in Abuja

In what could be a novel case of occult murder in the quiet community of Ekpan in Delta State, a corpse has allegedly been found in woman’s room in the town.

The remains of a man was said to have been kept by the woman in an “inner room” in her house in Ekpan for more than three months before information on the strange development leaked.

The corpse was believed to be that of a commercial motorcyclist, better known as “Okada-man”, who was said to have been missing from the locality since January this year.

Members of a vigilance group in Ekpan reportedly swung into action following the alleged shocking discovery by promptly reporting the matter at the police station in the area.

They told the police they suspected foul play in the disappearance and death of the man which indicted the woman since the inexplicable discovery of the corpse in her room.

The Delta State Police Command disclosed this yesterday in Asaba, the state

capital, saying the suspect had been arrested and was helping the police in their investigation.

Confirming the incident, the state police command spokeswoman, Mrs. Celestina Kalu, disclosed that the incident was reported by the vigilance group close to midnight on April 14, 2016.

The vigilance group “led by one Udoro Odiri of 231, Eku-Sapele Road, Eku, reported at the station that the group received an information that a corpse was in one Beatrice Idoro’s apartment at No. 8, Irifere Eku.” The group also alleged “that the corpse was that of a deceased okada-man named Oghenerho, (but with) surname and age unknown”, claiming that “the deceased was killed by the said Beatrice Idoro since January 5, 2016 and the corpse is kept in her inner room.”

Based on the information, police detectives stormed the scene (house), Kalu said, adding that “the information alleged was confirmed.”

Meanwhile, she said that “two suspects have been arrested while preliminary investigation is in progress.”

The Federal Capital Territory (FCT) Police Command yesterday in Abuja paraded 33 suspects for stealing cars and engaging in other criminal activities.

The suspects were paraded alongside the 16 vehicles of various brands that were recovered from them.

To also forestall cases of car theft, the command advised car owners to fix security in their vehicles.

Speaking with the journalists, the Deputy Commissioner of Police, Operations, Bala Ciroma, explained that the arrest and recovery were as a result of proactive intelligence gathering and discrete operation carried out by the command.

According to Ciroma “Of recent, there have been reports of car theft either being snatched or removed from parks and it gave us great deal of concern.

“We had to go back to the drawing board and re-strategise and I can say that our strategy has led to the recovery of some vehicles and more recoveries will be made because the suspects have given us useful information.

The command recorded major breakthrough that has led to the recovery of 16 cars of different make that were

suspected to have been stolen from different locations.”

He also noted that the suspects would be charged to court after a comprehensive investigation is carried out.

“As soon as investigation is concluded, they will be charged to court. We don’t want to rush and take half baked cases to court. We want to conclusively investigate the cases.

On fixing of security in vehicles. I also advise car owners to fix security in their vehicles. Even if it does not stop thieves from stealing the cars, it hinders them and gives time for patrol teams to act accordingly,” Ciroma said.

While assuring residents of their safety, the DCP promised that the command would not relent in its effort until criminals are frustrated out of business, as result yielding operation will be intensified and the strategy continuously reviewed until the last of these enemies are flushed out of the society.

Some of the suspects paraded included; Felix Terhemba, Timothy Iornenge, Jmaes Mbanongun, Ishiwu Chukwudi, Prince Nkem, Yusuf Abubakar, Salisu Mohammed, Babangida Umar, Suleimna Umar, Mohammed Mohammed, Promise Markus.

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WEDNESDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com

NPFL: Giwa Banished to Ilorin, Fined N6.75m Ordered to complete abandoned Match-day 12 clash with Rangers in Abuja

Duro Ikhazuagbe The League Management Company (LMC) yesterday slammed three home matches ban and a N6.75 million fine on Giwa FC for abandoning the Nigeria Professional Football League (NPFL) Match-day 12 clash with Rangers in Jos last Sunday.

Apart from being banished to Ilorin Township Stadium for its next three home matches, the Media Officer of the team, David King, was also summarily slammed with a N100,000 fine for breaching the code of conduct for club officials.

After a careful study of the match report and assessment of video evidence of the stalemated match, LMC said in a statement yesterday that due to the unruly conduct of its supporters, Giwa FC was fined N5 million in line with Clause B13.18 laws of the league while the match will be concluded behind closed doors from the 74th minute on Wednesday, April 27 at the Abuja National Stadium with scores at 1-0 in favour of Rangers.

“Due to the persistent nature of such disturbances by supporters of Giwa FC, the club shall play its remaining home matches behind closed doors and supporters of the club are banned from all league match venues for the remainder of the season.

The LMC said it reserves the right to lift the ban at any time on the condition of receipt of firm and satisfactory assurance and commitment (including training and orientation seminar for supporters of the Club under its supervision) guaranteeing the responsible behaviour and orderly

conduct of supporters of the Club.

Also, for failing to ensure adequate security, crowd control and preventing access by unauthorised persons to restricted areas, Giwa FC was found to be in breach of Rule B13.52 and the club was accordingly fined the sum of N500, 000 while for failure to control their players and officials, the club was fined the sum of N750, 000 in line with the provisions of Rules C9 of the league.

For the assault on the match commissioner and referee, Giwa FC was fined N500, 000 in line with Rule C12 while the club is further “required to ensure, within the next seven days, that in addition to the apprehension of one of the suspects, Goje, his co-culprit identified as Apiya is also apprehended and prosecuted by the relevant security agencies for assaulting the Referee. “A fine of N25,000 per day shall accrue, until such time the offender is apprehended and charged to court,” LMC further warned.

The league body said it is has received reports that “the two supporters are notorious for acts of violent assault on match officials and are said to be serving a two years match ban before the incident of last Sunday.”

It also ruled that in addition,“ for acts and conduct capable of bringing the game to disrepute in breach of Rule C1, a suspended two-point deduction has been imposed on Giwa FC which will be triggered should there be any subsequent incidents of disturbances by supporters of the club for the remainder of the season.

Some supporters of the club

NFF’s Technical Committee Meets over Foreign Coach The technical committee of the Nigeria Football Federation (NFF) will meet today in Abuja to put together a tight case on why the country needs to hire a foreign coach for the 2018 World Cup qualifiers.

Sports Minister, Solomon Dalung, has demanded a technical report from the NFF in support of a foreign coach for the Super Eagles after the country failed to qualify for a second straight AFCON.

The deadline for the submission of this report is next week.

The minister has said he will approve the engagement of a foreign coach should the NFF convince him, but at the same time warned that the government will not pay for such a coach.

The draw for the 2018 World Cup qualifiers will be staged on June 24 with the series beginning in October. Five teams will represent Africa at Russia 2018.

Nasarawa Beats 3SC 1-0 Nasarawa yesterday continued their surge in the Nigeria Professional Football League table after they defeated Shooting Stars 1-0 in a rescheduled game played in Makurdi.

Nasarawa has now shot up to 11th place from 18th spot with 15 points from 11 matches.

Esosa Igbinoba’s 40th minute

free kick goal was what separated both teams on the day.

Ten minutes from time, Tope Orelope wasted Shooting Stars chance to draw level when he blasted wide off target from close range.

Cletus Itodo was then denied by the Nasarawa goalkeeper on the dot of full time

disrupted the fixture severally by hauling dangerous objects on the field aimed at the second assistant

referee forcing the referee to a finally call off the match on the 74th minute

Giwa FC has 48 hours within which to indicate in writing the acceptance of the exercise

of summary jurisdiction or elect to appear before a commission.

Giwa FC to now play its next three home matches in Ilorin

IBB Club Hosts Captain’s Cup, Plans Ryder Themed Tourney Olawale Ajimotokan in Abuja The IBB International Golf and Country Club, Abuja has unfolded to series of activities that will formally terminate the tenure of the executive committee headed

by Hamid Abbo.

The programme, dubbed the Captain’s Cup, started at the weekend with the Lady Captain version and continued on Monday with caddies / workers competition.

A special kitty holds today ahead of the official climax on Saturday with the main Captain’s Cup that will incorporate the presentation of prizes and a gala night.

About 256 golfers will compete in the stroke-play event over the par 72 IBB golf course.

In addition there will be the

past captains and other serving club captains’ competition billed for Friday, April 22.

It will feature the past lady captains of IBB and former captains of the club to be joined by invited captains from Ghana and across Nigeria.

The event will allow the captains to discuss the modalities for the creation of an African version of the acclaimed Ryder Cup played every two years between Europe and USA. It will be competed between West Africa and South Africa.

Fifteen serving captains from golf clubs have indicated their intension to attend and show their skills ahead of today’s deadline when those interested must confirm their interest.

Abbo noted that there was a marked improvement in the

interclub match-play involving Abuja and Accra as golfers from the club travelled to Achimota as well as Rwanda and Uganda this year for competitions under his watch.

“The visit to Achimota for Ghana’s 59th independence anniversary was a spectacle as 54 golfers and 30 tennis players embarked on the trip to Ghana. It also informed why the President of Ghana, John Dramani Mahama, wrote a letter of gratitude to IBB Club for the visit,” Abbo said.

Abbo, who offered to pass some invaluable advice to some of the candidates likely to succeed him at the club’s AGM billed for April 30, said apart from Ghana, Abuja has already instituted matches with East Africa nations.

“We have been to Kenya, Rwanda and Uganda. The Ugandans are coming to Abuja on May 29 for the Democracy Day. But we want to expand this event to ensure it involves the whole of Africa,’’ Abba said.

Chairman of the Organising Committee, Chief Samuel Anyamele, said the committee would leave a legacy at the club that people will remember for many years to come.

From early results at the ladies event in honour of Lady Captain Mrs A. Usman, Amina Wilfred shot 72 nett to win the handicap 0-18 event by nine shots. Sandra Haruna came second while Rachel Danjuma was a further three shots off the pace to wound up in third place.

ZENITH BANK WBL

Dolphins, First Bank Maintain Unbeaten Runs as Second Phase Ends Defending Champions Dolphins Basketball Club and First Bank’s Elephant Girls dominated the second phase of the Zenith Bank Women Basketball League which ended yesterday in Asaba, Delta State.

They are yet to lose a game in the league since the jump ball in the first phase in Abuja.

Both teams are likely to go down the wire in the Final

Eight slated to hold in Lagos.

Yesterday, First Bank did nothing to earn maximum point as the Elephant Girls walked over Sunshine Queens of Akure.

Kano team, AHIP, similarly walked over Zamfara Babes. In other matches, Benue Princess beat IGP Queens 51- 45 while Nigeria Customs also defeated First Deepwater 49-31.

While expressing joy over the quality of play in the second phase, sponsors of the league, Zenith Bank Plc officials commended all the teams for putting up good shows in the first and second stages of the 2016 edition of the league.

They said that they were looking forward to even better performances at the finals in

Lagos to show to the rest of the continent that the women league here can make any other in the continent.

“We are committed to the development of basketball and we are happy that the teams taking part in the league are good ambassadors of the game,’” conclude an official from one of the branches of the bank in Delta State.

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WEDNESDAYSPORTS

Gallas, Saha, Others Confirmed for Yobo Centenary Game Duro Ikhazuagbe Four more top players from Europe including William Gallas, Louis Saha, Tim Howard and Steven Pienaar have been booked on the flight to Port Harcourt for the Joseph Yobo Centenary Game, the befitting testimonial match planed to mark the retirement of the former Super Eagles captain from football on May 27.

Yobo’s associate and former Super Eagles player, Waidi Akanni, confirmed yesterday that plans for a befitting testimonial was on course with the quality of players who have confirmed their presence in Port Harcourt.

“It is becoming very exciting the number of top players who have confirmed their readiness to be in Nigeria for the Yobo testimonial. I can assure you that before that date in May,

more top players are going to be unveiled,” stressed Akanni.

Gallas is a former Chelsea and France defender, who helped the Blues win back-to-back the English Premier League titles under Jose Mourinho in 2005 and 2006. He is also a former Arsenal, Tottenham and Perth Glory (Australia) player who called time on a glittering career after 84 caps for France.

He retired from the game two

years ago.

Saha, Yobo’s former teammate at Everton is also a French former professional footballer.

Saha was capped 20 times for the French national team. He moved over to Goodison Park after four and half years at Old Trafford.

Also, Everton and United States of America goalkeeper, Tim Howard is also listed for the Garden City football fiesta.

Howard is an iconic figure in U.S. soccer, especially after his epic performance in the 2014 World Cup, when he delivered a 15-save effort in the round-of-16 defeat against Belgium.

He has also been a mainstay for the Toffees, logging more than 400 appearances in all competitions.

The 36-year-old signed a four-year contract in 2014 with the intention of staying at Everton until the 2018 World Cup but has endured some shaky performances this season and recently lost his spot in the starting lineup to Joel Robles.

The fourth player to also confirm his presence in Nigeria to honour Yobo is another Everton and South African star, Steven Pienaar. He was captain of the Bafana Bafana, until October 2012.

Earlier, Yobo’s former Everton teammate Wayne

Rooney and African greats Samuel Eto’o, Yaya Toure, plus a host of other international football personalities have all shown interests in honouring the Ogoni-born star who amassed 100 international caps, scoring seven goals in a career that spanned 13 years.

He featured at three FIFA World Cups and six AFCON tournaments, leading Nigeria to victory in his last outing in South Africa.

Some of the corporate bodies who have indicated their support for the Joseph Yobo Centenary Game include, Sifax Group, NICON Insurance and Beko Electronics Ltd. The testimonial game which is being put together by the Joseph Yobo Foundation in partnership with the Rivers State Government will be an occasion to celebrate a worthy son of the state who had a distinguished career.

Injured Gambo Discharged from Hospital, Back in Kano Gallas

Saha

CA F C H A M P I O N S L E AG U E

Underrate Etoile at Your Peril, Ikhana Warns Enyimba Shooting Stars Sports Club (3SC) Head Coach, Kadiri Ikhana, has said that Nigerian champions, Enyimba, will be knocked out of this season’s CAF Champions League today if they underrate their Tunisian opponents, Etoile Sportive du Sahel.

Enyimba go into today’s second leg, second round clash

Mfon Udoh... can he repeat the magic in Sousse today?

with a 3-0 advantage from the first leg which saw the competition’s top scorer, Mfon Udoh, weigh in with a hat-trick.

The People’s Elephant will progress to the group stage of the competition if they avoid a four-goal margin defeat to the Diables Rouges (Red Devils) at Stade Olympique de Sousse, Sousse starting at 6pm Nigerian time.

“It will be dangerous for Enyimba if they think they have qualified for the group stage because they beat Etoile 3-0 in the first leg.

“I spoke to some members of the Enyimba technical crew and explained to them that it is not over (against Etoile).

“North African teams can easily turn around even a four-goal deficit and as such, 3-0 against Etoile is not really such a big deal,” Ikhana told supersport.com.

Onazi Named in Africa Top Five Nigeria and Lazio midfielder, Ogenyi Onazi, has been named in Africa’s top 5 stars for the past week by France Football magazine.

Onazi has struggled to pin down a first-team place at Italian club Lazio, but he grabbed a rare first-team appearance at the weekend when he scored in a 2-0 win over Empoli.

Last week, Nigeria youngster Alex Iwobi was named by France Football in the top 5 African stars.

The other players picked by France Football are Samuel Eto’o (Cameroun and Antalyaspor), Adlene Guediora (Algeria and Watford), Sambou Yatabare (Mali and Werder Bremen) and Islam Slimani (Algeria and Sporting Lisbon).

The experienced trainer, who led Enyimba to their first CAF Champions League title in 2003, also warned that the weather conditions in Sousse this evening could be an important factor in the eventual outcome of the game.

The temperature in Sousse is expected to drop to 16 degrees on Wednesday evening when the game will kick off.

“At this time of the year, the weather in Sousse is quite cold, especially when you compare it with what you have in Nigeria

now.

“The Enyimba players should approach the game as though they did not score even a single goal in the first leg. This Etoile team can actually score six goals at home.

“However, I am confident in this Enyimba team. They have players who can get the job done.

“If they play with the right attitude, I am sure they will get as far as the final of this year’s CAF Champions League,” he concluded.

Kano Pillars forward, Gambo Mohammed who was hospitalised following an aerial collision with Wilson Andoh during the Match-day 12 clash with Rivers United has been discharged from hospital and returned to Kano yesterday morning.

While in hospital, Gambo was visited by some players of Rivers United at the Braithwaite Memorial Hospital (BMH) in Port Harcourt.

Gambo was taken to the hospital after suffering a rupture of the tympanic membrane in the Nigeria Professional Football League (NPFL) clash against Rivers United.

Rivers United Secretary, Abdulrahman visited Gambo at BMH on Monday, accompanied by the club’s Co-ordinator, Bashiru Badawi and three of the Rivers United players, Wilson Andoh, Sunday Rotimi and club captain, Festus Austin.

The Pillars burly forward had clashed in mid-air with United’s Ghanaian striker, Andoh on the

8th minute of the contest decided at the Yakubu Gowon Stadium and was promptly taken to the BMH after preliminary treatment by the two Rivers United doctors.

Gambo was back to his feet by Monday evening.

The Pillars captain was eventually discharged yesterday morning and was accompanied to the Port Harcourt International Airport, Omagwa by the club’s Team Manager, Salisu Yaro and team doctor as they made their way back to Kano.

Abdulrahman said that Gambo had fully recovered and was full of gratitude for all who contributed to his rapid recovery.

“I personally drove Gambo to the Port Harcourt airport on Tuesday alongside two other officials of Kano Pillars.

“Their flight to Abuja from Port Harcourt was for 9am but we were at the airport before 7am.

“I just received a call from the Pillars’ Team Manager, Yaro informing me that they had arrived Kano,” he said.

Okpekpe Race Organisers Unveil Plans for Live Bands at Fourth Edition Organisers of the IAAF Bronze Label Okpekpe International 10km Road Race have announced that there will be live bands at the finish area to entertain participants on Saturday May 7, when the fourth edition of the race holds in Okpekpe in Edo State.

Spokesman for the race, Dare Esan, said yesterday that a carnival-like atmosphere will be created both at the start and at the finish with live bands and a selection of other activities at the finish area throughout the day.

“There will also be food and beverages for participants and spectators because the Okpekpe International 10-km road Race is much more than an athletic event.

As the only race on the continent holding the IAAF Bronze Label status, we believe the prestige attached to the annual road running festival will continue to have a positive impact on Okpekpe residents,” said Esan who also revealed other benefits the race will bring to the community in particular and Nigeria in general.

“Apart from boosting the local economy, the top-flight race will showcase the town on the international stage, and provide a platform for Nigerians to join hands with runners and spectators from around the world and make new friends.’

“Our athletes will also benefit

from the platform we have created to enable them gauge their readiness for the outdoor season especially the long distance runners,” he further noted.

Esan also revealed that adequate medical provisions have been made for participants, both the elite and fun-runners at the race.

“A medical station will be available at the start, along the course and at the finish. There would be provision for wellequipped ambulances that will follow the runners all the way and medics will also be present at every intermediary station. There will be a sweeper bus that will pick athletes that are unable to

continue the race,” he said.

Meanwhile, athletes and officials are expected to start arriving as from Thursday, May 5 to begin the screening and accreditation processes.

“Final registration and number pick-up starts on the evening of Friday, May 6 between 4:30 p.m. and 7:30 p.m. atYak Motel located after the Federal Polytechnic in Auchi.

It will resume again on Saturday morning from 6:00 a.m at the race venue until a few minutes before the road race begins at 8 a.m,” added Esan who advised that athletes should collect their running bib in person with proper proof of identity.

Wednesday April 20, 2016

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NLC to the Senate “We consider it appalling, insensitive and greedy of the Senate to acquire 108 Toyota Land Cruiser vehicles (for each member except the Senate President) after collecting “car loans” in August last year for the same purpose.”

Nigeria Labour Congress (NLC)’s President, Comrade Ayuba Wabba, condemning the purchase of cars for senators.

KAYODEKOMOLAFE THE HORIZON

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kayode.komolafe@thisdaylive.com

0805 500 1974

It’s Time to Reboot

n many respects, the second anniversary of the abduction of Chibok girls has provided another poignant reminder that President Muhammadu Buhari should reset the button for operating his government.

The resetting of governance is important for both the style and substance of the administration.

The anxiety generated by the failure to rescue the girls yet is a proof of what is obvious: the President does not have eternity to meet the huge expectations of the people. The rescue of these girls and other abducted persons ranks high in these rising expectations. In several quarters where Buharimeter has been firmly erected, the sad anniversary would constitute a veritable datum in the measurement of the performance of the Buhari administration in the last 11 months. Some of those who watch Buharimeter are legitimately full of expectations. To be sure, Buhari didn’t promise magic or an El Dorado. But he told the people that he would tackle insecurity, fix the economy and fight corruption.

The continuing captivity of the hapless Chibok girls and several other persons held hostage by Boko Haram would be in the category of the security questions to which Buhari promised to find answers. Incidentally, the anniversary of the abduction has almost coincided with the first anniversary of Buhari in office. Whichever narrative of the tragedy one elects to adopt, what is undeniable is that since April 14, 2014, the Nigerian state has failed in its constitutional duty to those helpless girls and several other persons who are still held by Boko Haram. As an aside, the misanthropic views of those who have chosen to make a political career of denying the abduction of the girls should just be treated with the contempt they deserve despite the indignation engendered by their callousness.

Now, in reflecting on the bigger issue, there must be a limit to rationalisation. The Nigerian state should be held constitutionally responsible; there have been two commanders-in-chief since the abduction took place. Every second counts in allocating responsibility in this matter. Former President Goodluck Jonathan was responsible from April 14, 2014 to May 29, 2015. Since then it has been squarely the responsibility of Buhari, as the commander-in-chief, to ensure the rescue of the girls and other captives. This is evident from the tone of the #BringBackOurGirls campaigns which got to a high pitch again last week. It is also legitimate to develop a sense of urgency about bringing back the girls alive after two years in captivity. This is one situation in which impatience could be a virtue in human terms.

There is the inexplicable attitude of some persons attacking the campaigners for the release of the girls. Instead of such uncharitable acts, more voices should be added in putting pressure on government to act more effectively in rescuing the girls.

There is also a subtle class dimension to the problem. Incidentally, it was Senator Ben Bruce who recently made allusion to this important class content of the approach of the Nigerian state to this tragedy in the last two years. If the girls were daughters of powerful members of the Peoples Democratic Party (PDP) or All Progressives Congress (APC) the approach of the Nigerian state to the problem at any period would be different. It would also be a different story if they were daughters of our billionaires. The girls are suffering the fate of the poor in this extremely selfish society. It took government weeks to even acknowledge the abduction because they are not from upper class homes. If they were from the homes of members of the establishment, their

Buhari parents would not be doubted on the abduction.

However, it is worth stressing that the people would soon get bored if this incompetence of the state becomes a standard excuse for inaction two years after the failure was recorded. There has been no evidence of any sense of urgency in rescuing the girls in the last 11 months. The approach of the security agencies and forces would not be leisurely if they were daughters of the very rich and powerful.

What is said about Chibok girls can be said about the rate of crimes, poor electricity supply, fuel scarcity, bad roads, food insecurity, non-availability of potable water, lack of social housing, under-funded schools and poorly equipped hospitals amidst other problems.

That is the bad news for the nation.

The good news is that the Buhari administration still has 37 months to make a difference in the history of this nation. In the view of some analysts, realistically the administration may be having 24 months or so for rigorous performance. A pundit, who has been a keen student of politics and policy in Nigeria for over three decades, said something in this regard which the strategists of this administration should find remarkable.

According to him, the seeming tardiness of this administration in almost one year now is not unprecedented. Apparently overwhelmed by the rot he met on ground, it took some time for former President Olusegun Obasanjo to find his bearing policy wise. However, the necessary caution in drawing these historical parallels is that Buhari might not have the luxury of failing to articulate an overarching strategy of development in four years, like Obasanjo did, because of the public hunger for action. That is why this is the time this administration should seize the momentum and show the stuff it is made of in matters of governance. As the first anniversary of the inauguration of President approaches, it is suggested that his administration should regain the momentum. This is not the time for power mongering. It is the time for activities towards rejuvenating the economy and making the nation secure.

The antidote to the incipient mass anxiety and sense of despair is action from those who got the mandate to govern. The best response to the rising expectations of the people is not official impatience. Instead of talking down on the people, members of the administration should, as a matter of accountability, strenuously explain to the people how progress is being made in revamping infrastructure, fighting poverty and tackling insecurity. Some members of the Buhari team are making efforts in this important job of explaining to the people. There is certainly room for improvement in this regard. More

members of the team should cultivate this habit of defending policies.

Yet, these official explanations by individual ministers cannot be a substitute for a coherent articulation of a development strategy for this poverty-ridden political economy. There is still a huge governance deficit in this respect.

Hopefully, the 2016 Appropriation Bill would be signed into law before the end of the month.

By that time the administration and the National Assembly must have ironed out their differences on the budget. The administration should see the budget as a basis to take a leap in delivering on promises. In addition, the expected boom in economic activities to be generated by the deals signed with some countries partnering with Nigeria for development would also hopefully become manifest.

In all this, it is crucial to bear in mind that the people are going to assess the performance of the government by the improvement in the quality of their lives. To paraphrase the question once famously posed by a western politician, a poor man would be justified to ask: “has the quality of my life improved since Buhari became President”? The assessment of the people in the scorching sun would be different from that of the experts and technocrats in air-conditioned rooms who revel in jobless growth rates, Fitch ratings, Gross Domestic Product and other arcane statistics and shibboleths. The people’s assessment would be based on their access to primary healthcare, quality education for their children and decent homes. The assessment would be based on how many young men and women have decent jobs. Certainly, those who

engage in the rituals of power-point presentations may have the luxury of lying with statistics; such a luxury is not available to those wielding placards on the picket lines. That is why the administration should be sensitive to both forms of assessment.

All told, in giving a fresh impetus to the style and substance of his administration Buhari should be mindful of his journey to power and the role of the poor in it. There must be a bias for the poor in policy design and implementation for a number of reasons. First, democratically the poor are in the majority. If policy is aimed at the “greatest good of the greatest number” it must have discernible anti-poverty thrusts.

That is why the administration should be wary of being railroaded into taking some anti-people austerity steps by those Dr. Sylvester OdionAkhaine rightly calls “patrons of poverty” of this world. If there should be cuts, the social spending should be exempted because of its horizontal impact on the people’s daily lives.

Secondly, the poor read economic indices not merely in the graphs of “shrinking growth”, but in their empty stomachs, ignorance, disease and squalor. So the policy focus should also be on tackling the burgeoning poverty and worsening inequality. The tension out there is exacerbated by the scandalous inequality in the land to which members the elite are yet to come to terms as they exercise hegemony in all spheres of life.

In doing the stocktaking of the first year in office, the engine of the Buhari administration should gather a fresh momentum so as to meet the expectations of the people.

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