Wednesday 22nd June 2016

Despite CBN’s $100m Intervention, Naira Falls Marginally to N284.83/$ Obinna Chima with agency report The naira depreciated marginally to N284.83 to a dollar on the second day of trading on the interbank spot market yesterday, as against

the N281.85 at which it closed on Monday, even as the Central Bank of Nigeria (CBN) intervened for the second day in a row by selling dollars to the market in order to trigger trading between banks due to liquidity concerns, Reuters

quoted traders as stating.

In total, the central bank sold around $100 million in the interbank market, according to CBN spokesman Isaac Okorafor. This followed an auction of $4.02 billion on Monday — when the naira

slumped 30 per cent after the central bank abandoned its peg.

However, liquidity concerns pushed up the overnight tenor of the Nigerian Interbank Offered Rate (NIBOR) to a record 60 per cent during

intra-day trading, but ended the day at 51 per cent, as commercial lenders expected the central bank to debit them around N1.2 trillion to cover hard-currency purchases. Also, the secured open buy back rate (OBB) stood at 45 per

cent yesterday.

Similarly, Nigeria's dollardenominated bonds rose as much as half a cent yesterday.

The 2021 issue gained 0.51 cents to trade at 99.760 cents Continued on page 9

Barkindo Confirms Talks With Militants, Rise in Crude Oil Exports...

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Wednesday 22 June, 2016 Vol 21. No 7727. Price: N250

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EFCC Calls for High-powered Inquiry as DSS Expands Probe Senator Iroegbu in Abuja The Economic and Financial Crimes Commission (EFCC) has called on the presidency to set up a high-powered inquiry to verify the claims of an exclusive report published

by THISDAY revealing that the

ALLEGED BRIBE Department of State Services (DSS) had arrested a member of the Presidential Investigative Committee on Arms Procurement, Air Commodore Umar Mohammed (rtd), for

allegedly fronting for officials of the commission and the Office of the National Security Adviser (ONSA).

Mohammed was arrested on Sunday over allegations that

he might have fronted for and received large sums of money from certain individuals and companies on behalf of members of the committee believed to be linked to the EFCC and ONSA. The individuals and companies, THISDAY

gathered, were purported to have paid massive amounts of money to the committee members through Mohammed in order to evade prosecution.

However, reacting to THISDAY’s story yesterday, the EFCC distanced itself and its chairman, Ibrahim Magu,

from any illicit activities and resorted to the over-flogged refrain: “corruption is fighting back”.

A statement by its spokesman, Mr. Wilson Uwajaren, said: “The attention Continued on page 9

Senate Forgery: FG to Arraign Saraki, Ekweremadu June 27

Senate summons AGF, says Buhari wants to cripple democracy N’Assembly rules are not your business, House tells executive Omololu Ogunmade and Damilola Oyedele in Abuja

The arraignment of Senate President Bukola Saraki and his deputy, Ike Ekweremadu, over the alleged forgery of the Senate Standing Order, 2015, will now take place on June 27.

Also to be arraigned are a former Clerk of the National Assembly Salisu Maikasuwa and the Deputy Clerk Benedict Efeturi.

Four of them were to be arraigned yesterday but the accused were not in court following claims that they had not been served the court summons.

Following the failure to arraign them, the judge of the Federal High Court of the Federal Capital Territory (FCT), Jabi Division, gave an order for substituted service following Continued on page 8

Doctors Suspend Strike as FG Sacks Them… Page 11

CONGRATULATING THE NEW POLICE CHIEF

President Muhammadu Buhari (left) in a handshake with the new acting Inspector General of Police, Ibrahim Kpotum Idris, at the Presidential Villa, Abuja… yesterday (See story on page 9) godwin omoigui

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Ibrahim Kpotum Idris is New Inspector General of Police Six DIGs may be retired Tobi Soniyi in Abuja and Chiemelie Ezeobi in Lagos President Muhammadu Buhari has appointed Ibrahim Kpotum Idris as the acting Inspector General of Police (IG).

His appointment is subject to confirmation by the Police Council.

He replaces Mr. Solomon Arase who retired yesterday.

Arase accompanied the new IG to the president’s office when the appointment was made.

Prior to his appointment, Idris was the Assistant Inspector General of Police (AIG) in charge of Operations.

While presenting the new IG to journalists, Arase

said: “I want to formally introduce my successor, AIG Idris Kpotum. He is going to serve in an acting capacity until the police council confirms him.

“I want to seize this opportunity to thank Nigerians for the cooperation given me while I served as Inspector General of Police.

By extension, I want to also appeal to you to give the same support that you gave to me to my successor.

“He is a younger man so I am sure he will be abreast with contemporary policing issues.”

In his remarks, the new IG said that under his watch the police would be governed by internationally recognised core values.

He said: “Honestly, by collective leadership, the Nigerian police is going to be governed by internationally recognised core values of policing everywhere in the world, that is, the issue of integrity and accountability, issue of respect for diversity, issue of compassion, issues of ensuring that our streets, our neighbourhoods, our communities remain safe.

“We are going to do everything possible to ensure that we provide the best service to this country.”

A statement issued yesterday by the president’s media aide, Mr. Femi Adesina, said Idris who hails from Kutigi, Lavun in Niger State, was born

on January 15, 1959.

He was enlisted into the Nigeria Police Force in 1984, after graduating from the Ahmadu Bello University Zaria with a Bachelor's degree in Agriculture.

He also holds a degree in Law from the University of Maiduguri.

Adesina said Idris had served in various commands and formations in the Nigerian Police Force, working in the Police Mobile Force for 17 years as Unit Commander, Squadron Commander and Commandant.

He served as Commissioner of Police in Nasarawa and Kano States and was also the Commissioner of Police in

charge of Police Mobile Force at the Force Headquarters.

His role during the Ombatse cult phenomenon in Nassarawa was exemplary, as he helped to contain the ethnic militia, a development that earned him the sobriquet “chief cop”.

He was also at the United Nations Mission in Liberia and East Timor and was awarded “Medal of Merit” by the President of the Republic of East Timor in recognition of his service.

The president’s spokesman said: “Idris, who was in charge of Operations at the Force Headquarters before his appointment as the acting InspectorGeneral of Police, will act in that capacity pending his

confirmation.”

Following the appointment of Idris as the new IG, the six Deputy Inspectors General of Police who served under Arase may be retired.

The six DIG’s are Dan-Azumi Job Doma, DIG in charge Finance and Administration (A) department, DIG Sotonye Wakama, DIG in charge Operations (B) department, DIG Ibrahim Mamman Tsafe, DIG in charge Logistics and Supplies (C) department.

Others are DIG Kakwa Christopher Katso, DIG in charge Force Criminal Investigations Department (FCID), DIG Cynthia Amaju Onu, DIG in charge ICT, DIG Jubril Olawale Adeniji, DIG Research and Planning.

other government officials as well as the 2016 budget were illegal.

Also speaking on the motion, Senator Isa Misau (Bauchi Central) said what was being witnessed in the country at the moment was the pure corruption of the judiciary, adding that he was worried and scared for the state of this country as well as the attitude of the president because “they want to derail democracy”.

He also alleged that the AGF was being sponsored by some elements, adding that the interference in the Senate's affairs would only bring the image and integrity of President Muhammadu Buhari into disrepute.

While Senator Ibrahim Gobir (Sokoto North) condemned the action, saying he was fully in support of the motion, Senator Peter Nwaboshi (Delta North) said he was not elected to legislate with fear neither would he be a coward to the executive.

The senator, who further decried the court charge, said it was time the Senate cried out against a perceived attempt to strangle the upper legislative chamber.

In the same vein, Senator Chukwuka Utazi (Enugu North) said it was ridiculous that the internal affairs of the Senate would be the headache of external forces and vowed that senators would never allow “anyone to remote control us here”.

In his contribution, Ekweremadu, who presided over the plenary, said those who use public offices to persecute others must not forget that their sojourn in power was temporary.

“Thank you very distinguished colleagues.

I am going to put the question. I don’t intend to say much because I’m involved. I just want to add that those who use their public offices today to persecute others must realise that no condition is permanent,” Ekweremadu said.

Yesterday’s plenary was held after a two-hour closeddoor session. THISDAY reliably gathered that the session was stormy as some senators were said to have

vehemently demanded a resolution, asking Buhari to sack the AGF. But the suggestion was dropped following pleas

by Ekweremadu who counselled that since the matter involved the Senate itself, calling for the AGF’s sack would be viewed as the chamber being biased.

His advice was heeded as the suggestion was eventually dropped.

It was also learnt yesterday that some senators were exchanging text messages calling for the commencement of impeachment process against the president but were said to have been advised against such messages to avoid further heating up the polity.

Also yesterday, Peoples Democratic Party (PDP) senators held a closeddoor session immediately after the plenary where they suggested the need to withdraw all support for the government of Muhammadu Buhari.

The senators were said to have been angered by perceived attempts by the president to muzzle the legislature, observing that he did not deserve the cooperation they had offered him so far.

They threatened that the president should henceforth prepare to witness a stand off with them.

However, one of the senators, Senator Emmanuel Bwacha (Taraba South), told journalists after the meeting that no decision was reached, as the meeting would continue today.

Also weighing in on the issue yesterday, the House of Representatives accused the executive of deliberate and sustained attack on the National Assembly, a development which it warned could be highly damaging to the country’s democracy.

It added that any matter concerning the documents of the National Assembly were purely an internal matter and should not be subjected to interference by any other arm of government.

The House recalled that the latest matter of alleged forgery, which the executive was pursuing, had already

been ruled upon by a court of competent jurisdiction.

The lawmakers therefore asked Buhari to call members of his cabinet to order, and ensure they desist from meddling in legislative affairs.

The resolution of the House followed a motion sponsored as a matter of urgent national importance

by Hon. Tajudeen Yusuf (Kogi PDP) who fingered Malami and accused him of constantly trying to undermine the National Assembly.

He cited the matter of the House’s takeover of the Kogi State House of Assembly, during which the AGF had issued a counter directive to the former Inspector General of Police Solomon Arase.

“It is now commonplace that ministers and head of parastatals ignore invitations by standing committees and ad hoc committees at will,” Yusuf said.

Yusuf added that no superior court had set aside the ruling of the Federal High Court on the alleged forgery of the Senate rules.

Similarly, the PDP caucus in the House advised the federal government to concentrate on fixing the economy and address rising insecurity, rather than making the matter of Senate rules its primary concern.

The caucus, in a statement

SENATE FORGERY: FG TO ARRAIGN SARAKI, EKWEREMADU JUNE 27 the claim of the bailiff that he had found it difficult to serve the accused persons.

Against this backdrop, the notice of arraignment was pasted on the notice board of the National Assembly yesterday.

According to the notice, the case, with charge number CV/21916, is between the federal government as “complainant applicant” and defendants listed in the following order: Salisu Maikasuwa; Benedict Efeturi, Dr. Olubukola Saraki and Ike Ekweremadu.

The notice read in part: “By oral application dated 21st June, 2016 moved by D.E Kaswe, Principal State Counsel FMJ, in this case praying the court for an order of this Honourable Court granting leave to the complainant application to serve the criminal summons on the defendants by substituted means to wit by pasting it at the notice board of the National Assembly, Three Arms Zone and after hearing D.C. Kaswe with A.A. Kaltingo, Esq, counsel for the complainant/applicant moved the court orally for the above relief.”

Reacting to the federal government’s decision to proceed with the prosecution of its principal officers, the Senate yesterday summoned the Attorney-General of the Federation (AGF) and Minister of Justice, Malam Abubakar Malami, to appear before it within the next two days to explain the rationale behind federal government's decision to charge Saraki and Ekweremadu to court over alleged forgery of the Senate rules.

The resolution, which arose from a motion by Senator Dino Melaye (Kogi West), further asked the AGF to appear before it to explain the basis for his action as well as the evidence for his claims.

Melaye said it was regrettable that the presidency had failed to be concerned about the huge crises of monumental proportion confronting the nation and instead was concentrating on chasing shadows by seeking to overthrow the leadership of the Senate at all cost.

“The Senate mandates the Committee on Judiciary, Legal Matters and Human Rights to within two days summon the AttorneyGeneral of the Federation to explain and justify with evidence the basis for his action and why it does not constitute gross misconduct, incompetence, contempt of court, and abuse of office,” the Senate resolved.

Melaye, in his motion, said the charge was a gross violation of the ruling of a Federal High Court in Abuja which last year struck out the case on the grounds that the National Assembly was an independent arm of government and hence, it would be wrong for another arm to interfere in its affairs unless such matter is proved to be in violation of the constitution.

He said: “The Nigerian Senate has observed the ongoing systematic degradation and abuse of the office of the leadership of the National Assembly by the executive arm of government through intimidation and harassment.

“This Senate notes regrettably that the executive arm of government as presently constituted is still to come to terms with the constitutional tenets of separation of powers and the independence of the legislative arm of government.

“My respected colleagues, this very noble Senate observes further, notwithstanding the maturity and nationalistic commitment of the National Assembly to ensure the survival of our democracy and the enthronement of order and national development through bipartisan initiatives and support for the executive, there remains a grand design not only to distract the National Assembly but to also intimidate it into silence and enthrone a one man rule.

“My colleagues, Mr. President, this Senate notes also the lack of respect for judicial decisions and the resolutions of the National Assembly by the executive which is beginning to arrogate itself unifying powers of the federation.

“The Senate notes that the current attempt to arraign the leadership of the Senate over an internal matter of the Senate and claims spuriously a forgery that does not exist is a smokescreen for an impending attempt to overthrow the legislative arm.

“This Senate notes further that the judiciary had through several rulings in a recent case suit no AFC/ ABJ/CS/646/2015 on the same issue warned the executive arm from treading on the path of criminalising or interfering in the running of the internal affairs of the Senate.

“This Senate therefore acknowledges the grave implications of this emerging trends which pose threats to the security and continued existence, unity and survival of our dear country.

“This Senate is aware that the legislature is empowered subject to provisions of the constitution to regulate its own procedures as explicitly stated in Section 60 of the Nigerian Constitution which we have all sworn to uphold.

“Mr. President, my colleagues, the Senate is disturbed that instead of applying itself to the myriad of problems confronting the nation including the escalating cost of living, upsurge in environment extremism, worsening insecurity, rising ethnic divisions, skyrocketing unemployment, declining national productivity, and a nose-diving economy into recession, the executive has continued to be hell bent on chasing rats while the federation burns.”

Melaye further described the action as a move to foist autocracy on the Senate, noting that if the Senate Standing Order are alleged to be fake, then every legislation the Senate has done under the authority of the book so far is also fake including the 2016 budget passed by it.

He also said the claim that the rule book was fake also implied that all the services the parliament had rendered to the executive through the rule book, including the screening of ministers and

Continued on page 9

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T H I S D AY • WEDNESDAY, JUNE 22, 2016

NEWS

Presidency Says Fayose is Confused, Needs Prayers Challenges Ekiti gov to produce proof linking Aisha Buhari to jailed US congressman Tobi Soniyi in Abuja The presidency has dismissed as laughable the desperate attempt by the Ekiti State Governor Ayo Fayose to link President Muhammadu Buhari's wife Aisha to United States Congressman William Jefferson’s bribery scandal for which the American lawmaker was convicted in 2009.

Reacting to Fayose’s allegations in a statement he issued in Abuja yesterday, the president’s media aide, Mr. Garba Shehu, said ordinarily the presidency would have ignored Fayose because he “is a man childishly obsessed with the desire to grab the headlines and insulting people at will because of his incurably boorish instincts”.

Shehu said however that the presidency chose to respond on this occasion for the sake of innocent Nigerians who might be misled by Fayose’s shameless and blatant distortion of facts.

According to him, ignoring Fayose carries the risk of giving traction and credibility to outright and brazen falsehoods inconsistent with the status of anybody that calls himself a governor or leader.

Shehu explained that Aisha had no direct, indirect or the remotest connection with William Jefferson's corruption scandal in the US. He challenged Fayose

to tell Nigerians if the so-called Aisha whose pictures he proudly, but ignorantly shared, was the same Aisha married to the president, or if the Aisha of his idle imagination had any relationship by blood or any relationship in whatever form, with Buhari’s wife?

Shehu also challenged Fayose to produce evidence from the records of investigation and subsequent trial of Jefferson to prove that Buhari’s wife, Aisha was in anyway linked to that scandal.

He explained that common names alone were not enough to automatically link innocent people to crimes or scandals, especially in an era of identity theft.

He further challenged Fayose to show proof when and where Aisha Buhari was invited for interrogation in connection with Jefferson’s bribery scandal, let alone indicted for a crime either locally or abroad.

Shehu said that free speech did not entitled Fayose to falsely accuse innocent people of crimes they knew nothing about.

He warned Fayose that Aisha Buhari was entitled to protect her reputation from being recklessly maligned, adding that political opposition is not a licence to attack people’s reputation brazenly without legal consequences.

According to online news medium, The Will, further

and lawyers who could help him pressure oil companies like ExxonMobil to clean up pollution in the Nigerian state.

She met a Mr. Assiba, who was scouting investors for his own African projects and had been introduced earlier to Richard T. Hines.

The lobbyist, Mr. Assiba told Ms. Buhari, was just the man Mr. Attah needed.

Attah and Mr. Hines came to terms and the Nigerian official agreed in the late summer of 2005 to pay him $1.2 million for a year’s

work.

According to the contract and lobbying records, Mr. Hines’s duties included meetings with government officials in Washington seeking aid for Akwa Ibom, finding companies and investors to come to the Nigerian state, and publicising its economic opportunities.

“Despite the large amount of money that Mr. Attah paid Mr. Hines, the politician said he never looked into the backgrounds of either the lobbyist or the associates

who followed Mr. Hines to Nigeria.

“If he had, he might have found that some of those associates had interesting backgrounds. In fact, a few of them had already been in Africa the year before — to seek work from another client of Mr. Hines, the government of the nearby nation of Gambia,” the report stated.

“As for Ms. Buhari, who is living in Virginia, it’s not clear who she really is. For one, she is under investigation in Nigeria by its Economic and Financial Crimes Commission, said its head, Nuhu Ribadu.

“Ribadu said he is uncertain if her name is Aisha Buhari, but he added that she is not a daughter of General Buhari,” it said, adding that American authorities suspect that Ms. Buhari may have served as a financial conduit for the politician.

“Mr. Jefferson also testified before a grand jury investigating the congressman, who is suspected of soliciting bribes from American companies seeking business in Nigeria.”

Even the president had denied knowing or having a relationship with her.

“I don’t have any relationship with that Aisha Buhari,” President Buhari said. “I don’t have any daughter called Aisha Buhari living outside this country.

She is not my daughter.”

and the Senate President were not accused or mentioned by senators who petitioned the police.

The caucus challenged the AGF to explain how Saraki and Ekweremadu came to be included in the lawsuit or how “a legal practitioner of his ranking preferred criminal charges

against presiding officers of the National Assembly without according them fair hearing”.

Also, the South-east Caucus in the House said the lawsuit filed against Ekweremadu had revealed the intention of the All Progressives Congress (APC) to shut out the region from

substantive positions in this government at all cost.

In a statement signed by its leader, Deputy Minority Leader, Hon. Chukwuka Onyema, the caucus accused the government of divisiveness, marginalisation, exclusion and palpable hatred for the people of the region.

$1.22 billion for two months (2M) and $1.57 billion for three months (3M).

In its assessment of development on the NIFEX, the Financial Derivatives Company Limited in a report yesterday stated that there was now a perfect market structure, just as it revealed that the present liquidity in

the market was 600 per cent higher than what it was in April. It added that with the open market, there is now transparency in the market.

It however stressed that forex policy must complement trade policy, stating that forex policy alone was not the silver bullet.

Meanwhile, on the parallel,

the naira closed at N335 to a dollar yesterday, stronger than the N345 to a dollar on Monday.

According to Bloomberg, Nigeria’s benchmark stock index also climbed 2.3 per cent to 29,442.71, its highest close since October 29, 2015 and reversing Monday’s 1.6 per cent decline.

information to come forward with the evidence.

“The EFCC as a body upholds zero tolerance for corruption and will not condone any act that amount to corruption. If Mohammed is established to have engaged in any illegal activity, he should be held liable.

“In view of the gravity of the issues, the EFCC calls on the presidency to set up a high-powered inquiry to verify the claims of the report and those who have made it their sole business to impugn the integrity of others and cast doubt on the credibility of the anti-corruption war.

“No matter the distraction and attempt by dark forces to derail its work through negative propaganda, the commission will continue to discharge the mandate freely given to it by the Nigerian people to hold all public officers accountable,” it stated.

However, THISDAY gathered from high level sources in the DSS that Air Commodore Mohammed was still in the custody of the security agency, which had expanded its investigation by carting away documents from his residence at No. 4 Lundi Close, off Mississippi Street, Maitama, Abuja.

During the raid on his residence, the DSS discovered $1.5 million cash and 18 luxury cars.

The DSS was also said to have carted away his state-ofthe-art cars, including a Rolls Royce, Ferrari and Buggati, among others, and raided his Kaduna residence.

Mohammed, revealed a DSS source, has been very cooperative and has made major revelations that would enable the agency to invite the persons on whose behalf he acted when he received bribes from the individuals and companies that were being probed by the Arms Procurement Committee.

Fayose checks have revealed that the Aisha Buhari bandied

by Fayose has no links whatsoever with the president.

A 2007 report by the NYTIMES on the matter clearly showed that the Ms Buhari linked to the Halliburton scandal is neither the president’s wife nor daughter.

According to the report, “Ms. Buhari” claimed to be working for Victor Attah, a former Governor of Akwa Ibom State, who had asked her to look for consultants

SENATE FORGERY: FG TO ARRAIGN SARAKI, EKWEREMADU JUNE 27 signed by its leader, Hon. Leo Ogor, also accused the AGF of blatant impunity and a grand design to undermine the legislature since his appointment.

It described the lawsuit filed against Ekweremadu, who is the highest political office holder of PDP extraction, Saraki,

Maikasuwa and Efeturi as an embarrassment.

The Senate and House Standing Rules have always been produced by each chamber, the caucus said, adding: “Ekweremadu ceased to be a senator from 4th of June 2015 when the 7th Senate adjourned sine die, until he was

inaugurated alongside other members of the 8th Senate on 9th June 2015.

“We wonder how the production of the Senate Order issued for the inauguration was his business.”

The caucus further noted that it was equally instructive that Ekweremadu

DESPITE CBN’S $100M INTERVENTION, NAIRA FALLS MARGINALLY TO N284.83/$ in the dollar - its highest level since early November, according to Tradeweb data.

The 2023 issue rose 0.40 cents to 96.150 cents, its highest level in more than 10 months.

Also, data from the FMDQ yesterday showed that on the forwards market, while the exchange rate for the 7-day forward yesterday

was N284.05/$1; 14-day - N287.30/$1; 1-month – N292.70/$1; 2-month -N297.82/$1; 3-month – N302.13/$1; 6-month – N302.13/$1; and one-year rate at N307.95/$1.

The central bank had on Monday conducted a Special Secondary Market Intervention Sales (SMIS) to

clear the backlog of $4.02 billion pent-up demand for forex. According to the CBN, it sold $532 million on the spot market and $3.487 billion in the forwards market. A breakdown of the $3.487 billion forward sales by the central bank showed that $697 billion was for one month (1M),

EFCC CALLS FOR HIGH-POWERED INQUIRY AS DSS EXPANDS PROBE of the Economic and Financial Crimes Commission has been drawn to a report entitled, ‘DSS Nabs Member of Presidential Cttee on Arms Procurement over Alleged Fraud’, which appeared on page 10 of THISDAY newspaper of June 21, 2016, regarding the arrest of Air Commodore Umar Muhammed (rtd), for alleged fraud.

“The report, quoting anonymous sources, alleged that Muhammed who is a member of the arms procurement committee is ‘fronting for some members of the committee’, including ‘high ranking officials in the

EFCC and ONSA’.

"Though the report falls short of naming the so-called officials that Mohammed is allegedly fronting for, it is common knowledge that the acting Chairman of the EFCC, Mr. Ibrahim Magu, is the only member of the Arms Procurement Committee from the commission.”

The EFCC went on to express grave concern over “this spirited attempt to create doubts in the minds of less discerning Nigerians and members of the international community regarding the integrity of its acting chairman”.

“To all intent and purpose,

this devious report is another avenue of corruption fighting back as some people have been uncomfortable with the uncompromising stance of the acting EFCC chairman in the fight against corruption,” it stated.

The commission was categorical that no official of the agency that is directly or remotely connected with the work of the Arms Procurement Committee has had any dealings that verge on fraud with Air Commodore Mohammed or any other member of the committee.

It went further to challenge anybody with contrary

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WEDNESDAY, JUNE 22, 2016 • T H I S D AY

NEWS

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

Barkindo Confirms Talks with Militants, Rise in Crude Oil Exports Power generation hovers below 2,000MW

Tobi Soniyi in Abuja and Ejiofor Alike in Lagos with agency reports

The incoming Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), Mr. Mohammed Barkindo confirmed yesterday that the federal government was in talks with militants in the oil-rich region, adding that he had been told Nigeria’s oil production is beginning to rise.

Barkindo’s statement confirmed THISDAY’s exclusive report yesterday that the federal government was in talks with militants in the Niger Delta and had reached a deal on a 30-day ceasefire to give President Muhammadu Buhari time to work out a comprehensive plan for the region.

His statement also came on the heels of recent data which showed that despite recent attacks on oil and gas facilities by the Niger Delta militants, Nigeria kept exporting crude oil at a largely steady pace of 1.8 million barrels per day in the month of May, though below historical levels.

However, despite the rise in crude oil production, power generation has remained abysmally low, hovering below 2,000MW, according to a data from the Transmission Company of Nigeria (TCN).

Data from maritime intelligence firm, Windward and Thomson Reuters showed that the drop in Nigeria’s exports from April to May was actually far smaller than most in the market had expected in view of the attacks, which curbed production.

Windward tracks all exports coming from Nigeria, including crude oil, condensates and shipto-ship transfers; so its figures are nearly always higher than estimates of crude oil production alone.

The data also suggested that Nigerian oil production is more resilient than many thought.

A spate of militant attacks took out the Shell’s Forcados crude oil stream in February and affected the company’s Bonny

Light crude, Nigerian Agip Oil Company’s Brass River crude and Chevron’s Escravos crude in May, mainly by targeting pipelines taking crude to export terminals.

An accident on the terminal exporting ExxonMobil’s Qua Iboe, its largest oil stream, further knocked production and led the International Energy Agency (IEA) to declare May production at 30-year lows of 1.37 million bpd.

But Windward showed May exports dropping by just 62,000 barrels per day (bpd) from April, with exports still reaching 1.89 million bpd.

Windward tracks all exports coming from Nigeria and its figures indicate that Nigeria exported between 300,000500,0000 bpd more than what OPEC and other agencies thought it had produced in May. The figures are significant, particularly as THISDAY had exclusively reported a 30-day ceasefire with militants yesterday that could forestall further attacks on oil sites, though one of the militant groups in the regions – Niger Delta Avengers – denied the ceasefire through a Twitter post.

Reuters data showed total exports in May at roughly 1.67 million bpd, down from 1.77 million bpd in April, and also a rise in exports of grades including Bonga, Agbami, Antan, Amenam, Okwori that helped to offset the losses.

The figures remain substantially below the close to 2 million bpd Nigeria has exported in the best of times.

Still, they suggest that many industry observers, for example the “secondary sources” polled

by OPEC that pegged Nigeria’s May production at around 1.4 million bpd, were overly pessimistic about its ability to keep pumping.

Trade sources noted that some of the oil could have come from crude stored at export terminals and on ships offshore.

But these volumes are not typically substantial in Nigeria, and most traders noted that oil

kept flowing from streams that had been repeatedly attacked, including Bonny Light and Brass River, while the Qua Iboe outage was shorter-lived than expected.

According to Windward data, 22 million barrels exported in the last 10 days of May pushed exports closer to par with April.

Speaking after a meeting with President Muhammadu Buhari and the Minister of State for Petroleum, Dr. Ibe Kachikwu, the incoming OPEC secretary general confirmed that the federal government was trying to resolve militancy in the Niger Delta through negotiations, but did not elaborate.

He also advised the federal government to adopt the carrot and stick approach in handling Niger Delta militants.

Barkindo, who attributed his emergence as OPEC scribe to the forthrightness and integrity of the president, spoke with State House correspondents after a brief meeting with the president

in Abuja yesterday.

Barkindo said Buhari had been able to positively reposition the nation’s image among the comity of nation.

He said he came to know of the workability of the carrot and stick option based on his experience.

The incoming OPEC secretary general was a former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC).

Barkindo said: “For me based on my own experience here, the option of carrot and stick, as they call it, I think is the way forward.

“Government, I understand is negotiating, discussing and we are beginning to see positive results. So I don’t think it will be proper to preempt these discussions that are being handled

by Dr. Kachukwu.

“But I remain confident that through these negotiations, stable and permanent solutions will be found to this problem because

the Niger Delta region is a very important part of our country and whatever we can do to address the challenges of development I think is the way forward.

“I have been told that production is beginning to rise again. So for us in OPEC, this is the first thing we look at.

How much is a member country producing? When we saw that production was falling in Nigeria as a result of recent challenges, the international community, the market also took note of that.

“But now I think things are beginning to come back to normalcy and I have seen some of your reports that are also very positive.”

On how he eventually emerged as the new OPEC scribe, Barkindo said “This is not the first time that our country has attempted to secure this position. This time around, seven countries including our good selves, stepped forward in the ring and out of the seven, four

of them are actually founding members of OPEC. “We have certain classification of membership. We have founding members and they are five of them that met in Baghdad, Iraq on 1st of September 1960 to give birth to this organisation. So they occupy a special status in the organisation.

“Four of them contested with us bringing the total number to seven. But because the tremendous amount of respect and goodwill that our president has internationally, has made it possible for us to scale through because all the six stepped down for us at the end of the day.

“It is not just Nigeria they took into cognisance, the integrity and status of Mr. President that anybody that he will put his stamp of authority and endorse should be considered and should be given a chance.”

Cont’d on Pg 50

CONGRATULATIONS FOR THE FEAT

President Muhammadu Buhari (middle), in handshake with the new Secretary General of the Oil Producing Exporting Countries (OPEC), Dr. Mohammed Sanusi Barkindo, after an audience with the OPEC Secretary General at the Presidential Villa in Abuja ...yesterday. With them is Minister of State for Petroleum, Dr. Ibe Kachukwu Godwin Omoigui

Saraki Insists He Can’t Get a Fair Trial under Umar Tobi Soniyi in Abuja Mr. Paul Erokoro (SAN) who appeared for the Senate President, Dr. Bukola Saraki, at his trial for an alleged false declaration of assets before the Code of Conduct Tribunal (CCT) has told the tribunal’s Chairman, Danladi Umar, to step down to pave the way for government to constitute a full panel for the tribunal.

While moving his application calling on Umar to disqualify himself from Sararki’s trial, Erokoro said if Umar disqualified himself, government could then appoint more members for the tribunal to be fully constituted.

He stated that his client could not get justice as long as Umar remained the tribunal chairman.

But, the prosecutor, Mr.

Rotimi Jacobs (SAN), opposed the application, saying it was a plot to delay the trial.

While arguing the application to get Umar to disqualify himself, Erokoro said the tribunal chairman has become bias based on prejudicial comments he made during the trial.

The CCT chairman had on June 7 threatened Saraki that the delayed tactics being employed by his lawyers would not reduce the consequences he would face at the end of the trial.

In his submission, Erokoro claimed that the comment by the chairman was prejudicial to Saraki and that Saraki could no longer get a fair trial from the tribunal as envisaged by the provision of section 36 of the 1999 Constitution.

He said neither the chairman who was personally served with the motion on notice informing him of the prejudicial statement made in the open court on June 7 nor the prosecution had denied the statement.

Erokoro further submitted that by implication, the CCT chairman and the prosecution had admitted making the statement and as such, the chairman should disqualify himself in the interest of justice and fair trial.

He further submitted that the Independence and the impartiality of the chairman as envisaged in section 36 of the constitution could no longer be guaranteed and that a good reason for the CCT chairman to disqualify himself from the trial had already been established.

The lawyer said Umar would not be able to balance the scale of justice.

“Once a judge by word or action show that he cannot hold the scale of justice, he should disqualify himself,” he said.

When asked what would happen to the tribunal should the chairman disqualify himself, Erokoro said there was a statutory provisions for the establishment of the tribunal with a full complement of three members and that the appointing authority could do the needful by appointing more.

Saraki had demanded the removal of Umar from the panel of the tribunal that would prosecute because of the open threat made

by Umar to unleash the full weight of the law on him at the end of his trial for the sins of his lawyers.

The senate president claimed that the threat made by Umar in the open court was a clear indication that the tribunal had made up its mind to convict him at all cost irrespective of the evidence at the trial.

However, the prosecution counsel, Jacobs while opposing the application said that the application was frivolous, and was an abuse of court process and a deliberate attempt to delay the trial.

Apparently justifying the alleged prejudicial comment of the CCT chairman, Jacobs claimed that it was true that the trial was being delayed by the defence and that the chairman only warned Saraki on the consequences of the trial and not the consequences of the charge.

He also said Saraki had filed similar applications before asking for the same prayers and that since appeal on the earlier ones are still pending before the appellate court, the tribunal should resist the temptation to do the statutory job on the Appeal Court.

Although Saraki had accused the tribunal chairman of bias in the past the grounds of the earlier were clearly different from the grounds of the present application.

Moreso, since the CCT chairman’s statement upon which the latest application was based had not been made before Saraki filed the appeal referred to by the prosecutor, the issues before the Court of Appeal are clearly not the same.

Meanwhile ruling on the application has been fixed for July 13, 2016.

WEDNESDAY, JUNE 22, 2016 • T H I S D AY

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NEWS

Doctors Suspend Strike as FG Sacks Them Paul Obi and Damilola Oyedele in Abuja with agency report The leadership of the National Association of Resident Doctors (NARD) yesterday agreed to suspend its strike after a meeting with other health sector stakeholders.

The association’s leadership also appealed to members to relax until the next meeting scheduled for July 14.

The decision emanated from the meeting between resident doctors and other stakeholders, organised by the Speaker of the House of Representatives, Yakubu Dogàra.

The meeting, according to an online news portal, The Cable, would be reconvenes in three weeks to review progress made in the implementation of agreements reached in the meeting slated for July.

However, the federal government is yet to react to the suspension of the strike action, meaning that an earlier order to replace all those who have down tools is still in force.

Meanwhile, the federal government had yesterday sacked all the resident doctors who went on strike to protest the government’s inability to address their demands.

In a statement signed

by the Director of Press, Federal Ministry of Health, Mrs. Boade Akinola, the government directed head of all federal health institutions to fill all the vacancies created by the strike embarked upon by NARD members.

According to the statement, “The Minister of Health, Prof. Isaac Adewole, has directed the Chief Medical Directors (CMDs) and Medical Directors (MDs) of federal government tertiary health institutions to fill the vacancies created by resident doctors who have abandoned their training programme by refusing to report for work.

“The directive was contained in a circular signed by the Permanent Secretary, Federal Ministry of Health, Dr. Amina Shamaki and sent to the CMDs and MDs of the federal tertiary health institutions.

“It has come to the notice of the management of the ministry that some resident doctors in your establishment have voluntarily withdrawn from the Residency Training Programme by refusing to report for training without authorisation. Public Service Rule (PSR) 030402 (e) is relevant.

“This is in spite of the ongoing negotiations on

Nigeria Shuts Gas Flow to Ghana over $180m Debt Nigeria has stopped the flow of gas to Ghana once again over a $180million debt owed the West African Gas Pipeline Company (Wapco).

The company said yesterday that it had suspended the flow of gas from Nigeria to Ghana over the unpaid bills by the Ghana government.

According to Reuters, Ghana’s state power producer, Volta River Authority, owes Nigeria’s N-Gas around $180 million,

while N-Gas in turn owes the Pipeline Company $104 million, Wapco spokeswoman Harriet Wereko-Brobby said.

The gas debt came up in October last year, with Ghana’s president, John Dramani Mahama, promising Nigeria’s Minister of State for Petroleum, Ibe Kachikwu, to pay up the debt by February this year.

But the promise was not kept, leading to the latest development.

Dangote Loses $3.7billion on Plunging Naira Nigerian billionaire and Africa’s richest person, Aliko Dangote, fell 25 places on the Bloomberg Billionaires Index on Monday as the naira tumbled on its first day of trading without a peg to the United States dollar.

Dangote’s fortune fell $3.7 billion, knocking him to No. 71 on the Bloomberg ranking, down from No. 46 on Friday.

The majority of Dangote’s $12.7 billion fortune is derived from a 91 per cent stake in Dangote Cement Plc, which shed two per cent in trading Monday.

The Central Bank of Nigeria (CBN) began auctioning dollars to limit the currency’s decline.

The bank had been using capital controls to stem an outflow of dollars after the naira crashed in February 2015 when oil prices slumped.

Dangote’s slide came as

equity markets worldwide surged on hopes that British voters would choose to remain in the European Union.

The upswing lifted the collective net worth of the 400 billionaires on the index by $44 billion to $3.99 trillion.

Amancio Ortega, Europe’s richest person, French luxury billionaire Bernard Arnault and Amazon.com founder Jeff Bezos led with respective daily gains of $2 billion, $1.4 billion and $1.1 billion.

After Dangote, the secondbiggest drop belonged to US casino billionaire Sheldon Adelson, whose Las Vegas Sands fell 5.6 per cent along with other gambling stocks after reports that revenue was trending downward.

Adelson, who lost $1.1 billion Monday, is the world’s 29th-richest person with $23.3 billion.

their demands put forward by the representatives of NARD under the auspices of the Nigerian Medical Association (NMA).”

Akinola stated that “In view of this development, you are hereby directed to replace all the doctors that have withdrawn their services, with others from the pool of applicants for the training programmes in the various disciplines

in order not to create ominous gap in training with attendant disruption of health care delivery in your facility.”

The statement further stressed that “the ministry is working with the panel on the review of the Residency Training Programme in Nigeria, led by Professor Wole Atoyebi, the Registrar of the National Postgraduate Medical College, to fast-

track the development of a comprehensive blueprint for postgraduate training of doctors in the country.

Please, ensure immediate compliance.”

The sack came after several failed negotiations between NARD and the federal government over work condition, training and other welfare package.

THISDAY learnt that the Speaker of the House of

Representatives, Hon. Yakubu Dogara had already intervened on the matter, seeking to find a solution to lingering the crisis.

NARD National Liaison Officer, Dr Paul Agwu, confirmed the meeting to THISDAY, stating that the Minister of Health, Adewole, NARD officials and the leadership of the house were already holding a meeting as at the time of going to press.

MEET THE BOOK KEEPERS

L-R: Governor of Gombe State, Alhaji Ibrahim Dankwambo; former Accountant General of the Federation, Mr. Kayode Nayeju; and Secretary, International Public Sector Accounting Standard (IPSAS), Mr. James Nongo, at a national workshop for public finance managers on IPSAS in Abuja....yesterday ENOCK REUBEN

Sex Scandal: Lawmakers Back Probe of Accused Colleagues Wife, contituents protest allegation against Ikon Damilola Oyedele in Abuja and Okon Bassey in Uyo Members of the House of Representatives yesterday unanimously resolved to open investigation into allegations of sexual misconduct levelled against three of their colleagues by the United States Ambassador to Nigeria James Entwistle.

The Committees on Ethics and Privileges and Foreign Affairs have been mandated to investigate the allegations.

Entwistle in a petition to the Speaker of the House, Hon. Yakubu Dogara, had accused Hon. Mark Gbillah, Hon. Samuel Ikon and Hon. Garba Gololo of solicitation for sex while on a recent trip to Cleveland, Ohio, US, for the international visitors’ leadership programme.

Gololo had allegedly grabbed the housekeeper who was cleaning his hotel room and solicited sex from her while Gbillah and Ikon allegedly asked hotel parking attendants to assist them find prostitutes.

One of the accused members, Gbillah, raised the point of “privilege”, quoting Order six (20)(22) of the House’ rules normally present the matter on the floor.

He lamented that the matter has besieged the news for several days, tarnishing the image of the three men.

“I stand before you here to say categorically that no such incident occurred. I want it on record that we (three) will bear this cross fully,” he said.

“It is a calculated attempt to tarnish the image of the House and Nigeria. I love my wife and I have never cheated on her.

I have eyes only for my wife and I have always travelled with my wife and child. I was with them on the said trip,” Gbillah said.

He called for the immediate constitution of a committee to investigate the allegations.

“We demand that justice should be done in this case and we will not relent in our efforts until this investigation is concluded and the report is released to the public,” he said.

Dogara described the allegation as serious and expressed worry that many Nigerians have already decided the accused lawmakers are guilty, without considering the implications for the entire nation.

Pronouncing them guilty without trial, buys into the trend where Nigerians are considered dubious, Dogara warned.

The Chairman of the Committee on Foreign Affairs, Hon. Nnenna Ukeje advised that the manner of conducting the investigation should not be allowed to jeopardise NigeriaUS ties.

“It is actually an issue between the Federal Government of Nigeria and the US. So, it must be dealt with, taking care not to rubbish the long-standing mutual respect the two countries have for each other,” Ukeje said.

The matter, being a point of privilege, was not debated but immediately referred to the committees.

Meanwhile, Ikon’s wife, Mary, has strongly defended the husband against such act.

Mrs Ikon said in Uyo, the Akwa Ibom State capital, that her husband was innocent of the allegation, describing the many script written against him as a manifestation of the usual hate people have against successful people.

“My husband is a good man and from the time of Jesus Christ till now, they never loved the righteous. That is why the whole world is talking today about a false allegation levelled against my dear husband. We know God will vindicate him as no man can curse whom the Lord has blessed,” she said.

Also reacting to the sexual embarrassment, an Akwa Ibom socio political group, Ibom Alliance Mandate has risen in defence of Hon. Ikon over allegation of sexual harassment while on official duty in the United States of America. The group in a statement signed by the state coordinator, Mr. Umoh David, described the letter by the US Ambassador to Nigeria, Mr. James Entwistle, as an attempt to

smear the hard earned reputation of their worthy and dynamic representative.

The lawmaker, the body said is no greenhorn in legislative business and international assignment pointing out that, since he became a legislator in 2007 he has visited countries both within and outside the African continent, wondering how he would have condescended so low to ask a parking lot attendant to get him prostitutes.

“Here we agree with Mark Twain who said ‘a lie can travel half way around the world while the truth is putting on its shoes’, we therefore take the latest attack on our lawmaker as a blackmail taken too far by the United States ambassador” the statement reads.

The group accused the accusers of a conspiracy aimed at branding and labelling Africans in perspectives that suit the pleasure of their government for political and economic gains and called on Nigerian government to rise up and defend its citizens.

“Today, it is Honourable Ikon accused of asking a car park attendant to convoke prostitutes, tomorrow, who knows who would be accused of having links with Mexican drug barons. We say enough is enough”

WEDNESDAY, JUNE 22, 2016 • T H I S D AY

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NEWS

Sheriff-led Group Declares Edo Guber Primary Illegal Asks state chairmen to ignore Makarfi’s committee Party youths call for truce, fresh convention

Onyebuchi Ezigbo and Adedayo Akinwale in Abuja

Former National Chairman of the Peoples Democratic Party (PDP), Senator Ali Modu Sheriff, has declared the Monday’s governorship primary in Edo State illegal and a contraption of an illegal caretaker committee and therefore urged members of the party nationwide, especially in Edo State, to disregard it.

In a letter addressed to the Chairman of Independent National Electoral Commission (INEC) signed by the National Chairman and the National Secretary, Prof. Wale Oladipo, the party, urged INEC not to give legitimacy to what happened in Edo State, saying the party was going to conduct a proper primary in the state.

Also, in another statement, the party released a scheduled congress in Edo State to start from June 23 -29 with the inauguration of Congress Committee scheduled for Thursday.

In another statement, the national chairman warned the state chairmen and officers of the

party to desist from meeting or having anything with the illegal caretaker committee and warned that anybody dealing with them was on his own.

The party announced the appointment of some deputy national officers as members of the National Working Committee (NWC) in acting capacity.

It said it was acting in pursuance to a resignation of five members of NWC and in accordance with the provisions of sections 39(2), 42 (2), 43 (2), 44 (2) and 47 (6) of the Constitution of the party 2012 as amended.

The newly appointed officers are: Mr. Okey Nnadozie – Acting National Organising Secretary; Mr. Alonge-Niyi Dennis –Acting National Youth Leader, Mrs. Hannatu Ullam –Acting National Women Leader and Bashir Maidugu –Acting National Legal Adviser.

It said their appointments are with immediate effect.

Meanwhile, a group, a PDP Youth Like-minds yesterday called for truce between the factional leaders of the party, Sheriff and Ahmed Markafi

,in order to ensure a lasting solution to the present crisis rocking the party.

It also called for a fresh and acceptable convention in order to bring the internal wrangling within the party to a halt.

The National Coordinator of the group who spoke on behalf of 24 other PDP youth groups, Aminu Tukur Gatsa, made the call at a press briefing in Abuja, where he also urged the G-9 founding fathers of the party to come to the rescue of the party and save it from imminent collapse.

According to him, “We have observed that the party that was laboured for by our founding fathers, that’s the G-9,

is in shamble now because of the problem that is going on in the PDP now. That is why we met yesterday, the like minds association, up to about 24 associations, and call edthe attention of our founding fathers, the remaining founding fathers of the G-9 to come and rescue the party from collapse.”

Gatsa added: “They should call the warrying factions, the Ali Modu Sheriff faction and the Markafi faction to order in order to solve the crisis rocking the PDP now because they labour for the formation of PDP, they suffered for PDP formation, some of them were jailed in the process during Abacha’s era; now we want them to come

back to at least put PDP in order by calling the two factions to bring a lasting solution to the present crisis.”

He streesed that in the process of some people creating relevance in the PDP, they ended up creating problem in place of relevance. noting that: “so, because of all this, we are calling on the remaining founding fathers to come and save the party from collapse.”

The group said the democracy of the country would be jeopardise wuthout a formidable opposition party to keep the ruling oparty on its toe.

“Our hope and prayer is for Sheriff faction and that of Markafi faction to come

together and conduct a reliable, acceptable, a formidable convention that can lead election of national officers irrespective of their ethnic, religion or section,” the group said.

The youth groups that are working for the party’s harmonisation include; PDP National Volunteers, Siyasa Akida Network, PDP Youth Mobilisation, Arewa Social Media Forum, PDP Youth Vanguard, PDP Youth Frontiers among others.

The G-9 founding fathers of the party include, Alex Ekwueme, Adamu Ciroma, Abubakar Rimi, Sikas Illah, Sule Lamido, Solomon Lar, Iyorcia Ayu, Jerry Gana and Bola Ige.

Spanish Govt Expresses Outrage over Gulak Killings Following the gruesome killing of about 20 people last Friday in Gulak, Madagali Local Government Area of Adamawa State by members of the Boko Haram, the Government of Spain has expressed its outrage at the vile actions of the sect.

The statement made available to THISDAY by the Spanish Embassy in Nigeria, read: “Government of Spain expresses its outrage at the vile murder on Friday, 17 June, of more than 20 people, the majority of them women, in the city of Gulak, in

the north-east of Nigeria.

“Spain expresses its deepest sympathies to the families and friends of the victims, and wishes those injured a speedy and full recovery.

“The government expresses its solidarity with and support for

the Nigerian authorities in their fight against the terrorist blight of Boko Haram.

“And hopes that these brutal crimes do not go unpunished and that those responsible for these attacks will be arrested and brought to justice as soon as possible.”

T H I S D AY WEDNESDAY JUNE 22, 2016

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14

T H I S D AY • WEDNESDAY, JUNE 22, 2016

COMMENT

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

WHAT’S HAPPENING?

W

The government should implement policies that will improve the living condition of the people, writes Sonnie Ekwowusi

hat is really happening in Nigeria? If you extend this question to the person beside you at the moment, he is not unlikely to respond thus: “Nigeria is sick: No money, no light, no water, no food, no security, no job”. And if you seek further clarifications, he might add, “Unemployed youths milling around everywhere. Companies are firing their staff. Workers with supposedly steady jobs are now living in fear, the fear of losing their jobs. Household incomes are diminishing. Many parents can no longer pay school fees let alone pay their house rents. To worsen matters, our president is also sick.”

This is the popular state of the nation at the moment. Having successfully dismantled the pre-existing Jonathan order, the Buhari government is yet to put an alternative order in place. Consequently, people’s lives are still ruled by uncertainty and confusion. Nature abhors a vacuum but we seem to be experiencing a vacuum in Nigeria at the moment. Apart from the flexible forex policy announced by the Central Bank of Nigeria (CBN) last week, nobody knows where we are headed. The ministers are not talking or have been warned not to talk. So, there is an information blackout amid the increasing economic hardship in the land. Last week I received a WhatsApp message that a new word called Buhari which means hardship (synonyms: strenuous, onerous, arduous, gruelling, painful, hellish) has been added into the dictionary. How was your final exam? It was Buharific. Of course this is a joke. I can tolerate this joke but I can’t tolerate anybody joking with the president’s ill-health. Nobody should joke with a person’s ill-health. I wish President Mohammadu Buhari a speedy recovery.

In any case, the president returned last Sunday to Abuja from his medical vacation. Upon arrival, he told journalists at the airport that he was hale and hearty and fit to rule the country. But the picture of a frail-looking Buhari published on the front page of The Guardian newspaper of last Friday spoke otherwise. Therefore the logical questions are: Is the president really strong and fit to resume his official duty? Is his frequent absent from office and his frequent visit to hospitals abroad an indication that he might not have the powers to continue to perform his duty in the future?

Another disturbing development at the moment is the systematic imposition of a state religion on Nigerians through government actions and policies. Whereas section 10 of the 1999 Constitution stipulates that “The Government of the Federation or a State shall

HOW WAS YOUR FINAL EXAM? IT WAS BUHARIFIC. OF COURSE THIS IS A JOKE

not adopt any religion as State Religion” some well-articulated government policies and actions state the contrary. For example, Osun State Governor Ogbeni Rauf Aregbesola makes no pretext both in word and action that he wants to Islamise Osun State.

Apparently acting on a questionable court judgment last week, the governor ordered the female Muslim students in public secondary schools in the state to start attending classes in their Hijab. Peeved by this directive, the State chapter of the Christian Association of Nigeria (CAN) ordered the Christians students in the state to start wearing their different church garment and robes to classes. Even students who are pagans and juju worshipers did not hesitate to wear their masquerade and juju attires to school. It was a real drama. Prior to the Osun State school uniform drama, Mrs. Bridget Agbahime was reportedly beheaded in Kano for alleged religious blasphemy. Till date her real murderers are yet to be apprehended and brought to justice. Other killings and burning of Christian churches in the name of religion have been recorded in different parts of the country.

This is sad, isn’t it? Therefore, beyond condemnation, Governor Aregbesola and others who are violating the secularity of the Nigerian state should be properly enlightened to understand the real meaning of secularity (in contrast to secularism) as enshrined in our 1999 Constitution. Religious intolerance can be very sticky and deadly too. That is why it is advisable to stay away from it. More importantly, Nigeria is a multi-lingual, multi-ethnic and multireligious society with no state religion as clearly stated in section 10 of the 1999 Constitution. Therefore we should learn to tolerate one another. Nobody is a single verse. Christians and Muslims live on the faith of Abraham, and, on one almighty and merciful God. All said, now that President Buhari is back and says he is fit to rule, he should implement specific policies that will improve the living conditions of the people. We are tired of excuses. If the new flexible forex policy of the CBN is what will bring about the much-vaunted transformation, let it be effectively implemented. Let us sell and buy forex only through the official windows, and under a transparent and easily verifiable system, with available amount of dollar at each outlet and rates published and displayed in a secured manner daily. The naira should be made the only currency for transactions in the country. In a country like China every dollar that enters or leaves the country is accounted for. Violation of the rules regulating management and use of dollar is heavily punished.

It is high time we tried the Chinese option.

KOGI ELECTION: MORE RIVERS TO CROSS

T

hree weeks ago, the youthful Governor of Kogi State, Alh. Yahaya Bello began a Hercules-like triumph in the series of judicial mines placed to test his validity as the number one citizen of the Confluence State. For some, the governor’s serial victory at the Governorship Election Petitions Tribunal where his major petitioners suffered bloody noses is confirmation of Dino Melaye’s hypothesis of Divine involvement. At the inauguration of Bello on January 27 in Lokoja, the stylish senator representing Kogi West had pulled a rude joke that though Kogi people voted for another candidate, God overruled them and voted for Bello. Thus, as Justce Halima, who claimed to be under malaria parasite’s attack, threw out the petitions one after the other many simple folks were convinced that God must have indeed voted for Bello who was not even a candidate in the November 21 election. However, for others, the tribunal judgment is an added spice to Kogi’s reputation as a land where absurdities are normal. A theatre where nothing is impossible.

They may be right. After all, the state has attained notoriety as the experimental guinea pig for modern Nigerian politics and law. We do not need to go far to provide proofs of this fame. It is a pioneer on many fronts. The first state where a governorship election was annulled by a tribunal and upheld by an Appeal Court. The first state to be ruled by an acting governor. The first state to go through a rerun poll. You will also recall that it holds the record as the only state where two persons were sworn into office: one as governor and the other as acting governor the same day. Even as you read this, at least two persons are still laying claims to the speakership of the State House of Assembly! Momoh Jimoh Lawal supported by 14 of his colleagues and armed with a High Court judgment insists he is the Speaker. But Imam Alfa leading a group of five members is the one recognised as Speaker by the executive. A third force is the National Assembly whose threat to take over functions of the Assembly has remained a mirage. And the mother of all oddities? Hold your breath. The first state to produce

Kogi State has earned the sobriquet of anything goes, reckons Richard Elesho a governor from supplementary election - a strange phenomenon under the Nigerian law and customs.

The controversial and supplementary nature of the election that produced Bello as governor has been the bane of his mandate. The Kogi governorship poll held November 21 last year. It was however declared inconclusive by the Independent National Electoral Commission (INEC). As the votes poured in, and collation got underway, it was clear that Prince Abubakar Audu, then candidate of the All Progressives Congress (APC) and his running mate, James Abiodun Faleke were coasting to victory. They were leading their closest rivals, incumbent Governor Idris Wada and Deputy Yomi Awoniyi of the Peoples Democratic Party (PDP) with about 41,000 votes having polled a salivating 240,000 votes to Wada’s paltry 199,000 votes. However, a legal technicality prevented the victory from being announced on the spot. Some 49,000 votes, a little more than the margin of defeat were still outstanding. The Electoral Act, which moderates the conduct of all elections into public offices in Nigeria makes it mandatory that the yet to participate 49,000 registered voters must not be disenfranchised. Consequently, the returning officer invoked this legal provision and declared the election inconclusive. A new date for the conclusion was yet to be announced when news of Audu’s death filtered in. The APC, the state under which the late Prince was winning the election, came in to claim all the votes leaving none for his rattled political patrimony.

From a shaky start, the party went to its archive and awarded the disputed votes to Bello who came second in the primary that produced the fallen Audu. Fortunately, it had an ally in a restive and partisan attorney general and minister of justice who admonished the party to bring a new candidate in the middle of an election. The supplementary poll that held on Saturday, December 5, 2015 was a walk over for Bello. He shored up the APC total votes to about 247,000 with his 6,000 supplementary votes and thus became the first person in humanity to win public office on the strength of a make up election. When he was inaugurated in January he

did not have a deputy governor as Faleke who was retained on the INEC documents as running mate vehemently rejected the offer. He then approached the tribunal to agitate for his declaration as governor.

It then appeared that Bello’s governorship was imperilled from the start. Faleke felt terribly shortchanged by his party and INEC. He reasoned that Audu had already won the election before he died and urged the tribunal to compel INEC to declare him as winner since he was on a ‘joint ticket’ with Audu. In his opinion, the supplementary election was completely unnecessary and an illegality. The simple question he wanted the tribunal to answer was whether INEC was right in declaring the Nov. 21 election inconclusive. The tribunal failed to answer that question but instead threw out his case for lack of merit.

Tribunal Chairman Justice Halima Mohammed held that since Faleke did not participate in every stage of the election, he lacked locus standi to bring the petition before it. It resolved that since the November 21 election was declared inconclusive, the right to challenge its outcome had not accrued to Faleke. The tribunal declined jurisdiction to question the party’s internal process that led to the nomination for Audu’s replacement. It appeared that the tribunal spoke from both sides of the mouth.

The question of what constitute ‘every stage’ of the election was left dangling. If Faleke was dismissed for not participating in every stage of the election, then what do we say about Bello? A man who did not participate in campaigns and the general election can hardly be said to have faired better under the law.

After summarily dismissing Faleke’s case in the manner described above, the tribunal landed its hammer on its next victim, former Governor Wada of the PDP. Wada’s case was multi-faceted.

He opined that since Audu died in the middle of a general election and not primary, the period allowed by law for the substitution of a candidate had elapsed. He argued that Bello who was used to replace Audu could not inherit the votes of a dead person. He alleged further that Bello was not even

qualified to contest the election because he was not a registered voter in Kogi State and he went into the supplementary election without a running mate.

Finally, he brought a forensic report and expert to show that the election was rigged in favour of the APC. Again, his application was dismissed for lack of merit.

Although Justice Halima graciously granted him locus standi, she said the load of scanned electoral materials brought by the forensic expert and which she had earlier admitted or marked as exhibit were ‘dumped’ on the tribunal. The tribunal was silent on Bello’s invalid voter’s card and held that he did not contest the December 5 supplementary poll without a running mate. She stunned listeners when she declared that Faleke who she declined locus standi a day before, was also Bello’s running mate for the make up election. The tribunal held that the provisions of the law as it relates to substitution of candidate by a political party become invalid in an inconclusive election. The Wada case still left many unanswered questions. Can votes of a corpse be transferred to the living or do they die with him?

Between a party and a candidate, who owns the votes cast in an election? What is the life span of the result of a primary election? Can a material presented and accepted as exhibit be said to have been dumped on a court?

Once the tribunal threw out the Faleke and Wada cases many observers predicted that the other cases before it would suffer the same fate. They were right to the point. The petition of Philip Salawu, a former deputy governor and candidate of the Labour Party was rejected. That of the African Development Party (ADC) was equally dismissed for lack of merit.

The last of the petitioners is the All Progressives Grand Alliance (APGA). They complained that it was unlawfully excluded from participating in the election as its logo was omitted on the ballot papers.

Effortlessly the tribunal also threw out the case for lacking merit. All the petitioners have rejected the judgments and vowed to proceed on appeal in search of Justice.

Elesho is a public affairs analyst

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T H I S D AY • WEDNESDAY, JUNE 22, 2016

EDITORIAL A VOTE FOR WOMEN EMPOWERMENT

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President Buhari’s decision to empower women is a step in the right direction

resident Muhammadu Buhari’s recent decision to set aside N1.6 billion for the empowerment of women is a step in the right direction. “I would like to take this opportunity to express my appreciation for the increasing role that our women are playing in revitalising the agricultural sector. Modern farming is still hard and heavy work and I salute our Nigerian women in sharing this burden’’, said the president during the nationwide broadcast to mark his one year in office on May 29.

The N1.6 billion, which is expected to be domiciled in micro-finance institutions as loans to women across the nation, is to assist in rehabilitating the economies of rural communities, particularly those impacted by the Boko Haram insurgency and other conflicts. Justifying his decision, the president expressed regret that for too long, Nigeria had neglected the poor and victimised the weak, accusing past leaders of promoting profit and growth over development and freedom.

Women are the IF WELL IMPLEMENTED, pillars of the family IT COULD TAKE MANY OF institution, yet they OUR WOMEN, ESPECIALLY are the victims of the IN THE RURAL AREAS, OUT most telling abuses OF POVERTY WITH THE and socio-economic, ATTENDANT MULTIPLIER cultural and political EFFECTS FOR THE LARGER exploitation in our SOCIETY society. Indeed, crimes, communal conflicts, wanton destruction to life and property (in which women and children are at the receiving end) have gradually become so endemic in our society, to the extent that many of the despicable violations are considered commonplace, with outrage and horror alarmingly being displaced by indifference and disdain. On a yearly basis, the World Investment Report of the United Nations Conference on Trade and Development (UNCTAD) indicate that we lose trillions of naira to ethno-religious crises. Even so,

Letters to the Editor

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the figures do not give the entire picture of the loss.

How do you put a price on the thousands of people dislodged from their farms and their homes? How do you account for the fact that tomato which used to be in abundant supply in our country is now a scarce commodity?

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T H I S DAY

EDITOR IJEOMA NWOGWUGWU DEPUTY EDITORS BOlAJI ADEBIYI, JOSEph UShIGIAlE 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

lthough poverty is both complex and multi-dimensional, still it can be narrowed down to critical issues like access to basic amenities of life like shelter, healthcare, food, transportation, means of communication, water, electricity, household income, ability to send children to school and the quality of education. Many women in most Nigerian villages are highly impoverished.

They lack access to basic medical facilities. They lack access to drinkable water. They still trek long hours to the farm to work for multiple hours just to eke out a living. They die from preventable illnesses. It is indeed a scandal that most pregnant women in most Nigerian villages still give birth in huts with no running water.

In addition, many of the women are economically disadvantaged by policy (tax, access to finance, land, inheritance) and unfairly burdened by culture with bearing and raising children.Thus while many countries have made huge strides in gender equality, the struggle for empowering women rages on in Nigeria.

But their empowerment is crucial for strengthening the families and communities, improving food security and bringing about sustainable development.

Ordinarily, programmes like this belong in the realm of the private sector but because of the prevailing poverty in many rural communities (and in some of our urban slums) and the absence of facilities that government should ordinarily avail its citizens, we welcome this intervention. If well implemented, it could take many of our women, especially in the rural areas, out of poverty with the attendant multiplier effects for the larger society.

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.

ARE WE READY FOR A FEMALE GOVERNOR?

ast week on social media, I came across an interesting conversation on the role of women in politics, specifically if we as a nation were ready for a female governor. This conversation was apparently triggered by the announcement of a TV series called ‘The Governor’ which is to be aired by Ebonylife TV and has a female playing the role of The Governor of a state.

This conversation by ‘The Governor’ team triggered a train of thoughts which I would like to share. Every election year since the return to democracy, the clamour for an elected female governor in Nigeria always comes up. Female rights activists, gender equality proponents, female celebrities and your average Jane White all lend their voices to this issue because they believe that the country and its adolescent democracy are ready for the emergence of a female governor. They do not want a ‘figurehead’ deputy-governor thrust into power by unfortunate circumstances that might have befallen the governor but one duly elected by the populace in a free and fair environment.

However, having access to leadership positions in Nigeria is not easy for millions of women taking part in elective politics as they lack the support and opportunity to compete with other male politicians. Voters also fail to understand the importance and benefits of having mixed gender in government. This has led to relatively low representation of women in all levels of government in the country compared to male leadership. Nigerian women have encountered a number of problems while venturing into politics. There is large scale discrimination from the men folk, both in voting for candidates and in allocating political offices. More often than not, men constitute a larger percentage of the party membership and this tends to affect women when it comes to selecting or electing candidates for elections. Since men are usually the majority in the political party setup, they tend to dominate the party hierarchy and are therefore at an advantage in influencing the party’s internal politics. Women usually constitute a smaller percentage of political party membership because of the social, cultural and religious attitudes of different Nigerian societies which most often tend to relegate women to the background. As a result, only very few men, even among the

educated, allow their wives to come out and participate in politics.

Another problem facing women is lack of adequate education. Women constitute a larger percentage of the illiterate group in Nigeria. This could be attributed to the fact that in many families, parents prefer to send their sons to school, instead of their daughters, thus, a larger percentage of the girls remain uneducated and unexposed.

Lack of adequate finance is a crucial hindrance to effective female participation in politics in Nigeria. A large portion of the Nigerian female population is not as financially strong as their male counterparts. Family responsibilities and childbearing also hinder women from participating effectively in partisan political activities. During a sizeable part of their adult lives, most women are involved not only in child bearing, but also in child rearing. Thus, much of the time they may have wished to devote to politics is taken up by their maternal challenges and obligations.

The future prospects of Nigerian women in politics are bright. Census figures show that women are almost now numerically at par with men. Moreover, some of the obstacles highlighted above are already being removed. For example, the number of educated women in Nigeria has increased over the years. Many members of this new class are willing and able to participate effectively in politics at various levels.

The number of girls admitted into schools, colleges, polytechnics and universities has increased phenomenally. In some states in the eastern part of Nigeria, there are now more females than males in schools.

Nigeria has over the past years elected female lawmakers at both the federal and state level though at a relatively low and disadvantaged proportion to their male counterparts. This shows an improvement in the level of participation of women in politics; however there has never been a female governor ELECTED into that position. The only female governor Nigeria has had is Dame Virginia Etiaba, who as deputy-governor rose to the position due to the impeachment of the governor. Only recently, during the 2015 general elections, Aisha Al-Hassan also known as Mama Taraba, emerged a flag-bearer for one of the political parties in the Taraba governorship race.

Olutayo Irantiola, peodavies@gmail.com

DON’T KILL NIPOST

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sent a parcel from Benin to Lagos on May 23, 2016.

My reason for sending it through NIPOST was that under the circumstances, traffic of parcel posts would have reduced because of the ease of emailing documents. How mistaken I was! That parcel, which should have reached Lagos in just one week eventually just got there, about a month after – and it had been swiped!

This is not good enough NIPOST. Even though there are very many methods today to send goods from one part of the country to the other, some of us still trust NIPOST to deliver.

Parcel delivery through NIPOST still helps our economy.

Don’t kill it, don’t kill the economy.

Bob MajiriOghene Etemiku, ANEEJ, @bob@aneej

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WEDNESDAY JUNE 22, 2016 T H I S D AY

T H I S D AY WEDNESDAY JUNE 22, 2016

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T H I S D AY • WEDNESDAY,JUNE 22, 2016

MIDWEEKPOLITICS

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

THE NEWSMAKER

Obaseki Crosses the First Hurdle The emergence, at the weekend, of Mr. Godwin Obaseki as the All Progressives Congress governorship candidate for the Edo State governorship poll is just one hurdle scaled. Shola Oyeyipo writes

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he race to succeed the Edo State Governor, Comrade Adams Oshiohnole has always promised to be very interesting, not just because it is one of the staggered elections billed to take place later this year, but also because the contention among the aspirants has been keen. Another scintillating aspect of the election billed to take place sometime in September is that the contest is not just limited to the ruling All Progressives Congress (APC) and its conventional rival – the Peoples Democratic Party (PDP) – even within the ruling party, there has stiff rivalry among other aspirants.

Though there were issues relating to the outgoing Governor Oshiomhole putting his weight behind Obaseki’s candidature and whether or not the support would eventually enable him clinch the party’s ticket, at the end of the day, when the party concluded its primary last weekend, Obaseki emerged the governorship candidate of the APC for the September 10 governorship election.

Obaseki is the pioneer and chairman of the Edo State Economic and Strategy Team, which was inaugurated by Governor Oshiomole in March 2009. He holds post graduate degrees in both Finance and International Business, and he is a Fellow of the Chartered Institute of Stock Brokers.

He has served as executive board member of several private companies including Afrinvest.

The Katsina State Governor, Alhaji Aminu Masari, who was the chairman of the Election Committee, announced that Obaseki polled 1,618 delegates’ votes to defeat Governor Oshiomhole’s deputy, Pius Odubu, who scored 471.

Odubu, one of the most notable contenders for the APC ticket, was recently reported to have escaped assassination by gunmen, who opened fire on him and his entourage in Auchi, Etsako West Local Government area of the state. He and Oshiomhole were rumoured to have been at loggerheads because he (Odubu) declared his intention to contest the gubernatorial election in the state.

Another prominent aspirant, Kenneth Imansuagbon, who had embarked on rigorous campaigns and expressed great enthusiasm polled 247. Former Minister of State for Works, Chris Ogiemwonyi (137), Major General Charles Airhiavbere (rtd) (11), Emmanuel Arigbe-Osula (10), Professor Osarheimen Osunbor (nine), Professor Frederick Amadausn (eight), Peter Esele (eight), Blessing Agbonmeire (five), Austin Emuan (four) and Mrs. Tina Agbarha (three) votes.

While a particular aspect of concern that the aspirants have harped on was the need for free and fair primary, which they say is the panacea for the overall success of the APC at the general election, an indication from the Police Commissioner in Edo State, Mr. Chris Ezike, on Saturday, after the primary was that the primary was peacefully conducted with hitch-free accreditation.

In a chat with journalists, Ezike said after the APC Governorship primary election held at the Samuel Ogbemudia Stadium, Benin, that he was impressed with the manner the delegates conducted themselves.

“The accreditation was orderly, free and fair, and I believe the delegates will attest to the fact that it was a smooth exercise. Unauthorised persons were taken care of and the security situation was in order,” Ezike added.

Another commentator, a former State House of Assembly Speaker, Mr Thomas Okosun, said the primary election accreditation was worthy of emulation, adding that there was no room for discussion among the delegates during the exercise.

“Immediately a delegate is through with the accreditation, the security personnel will escort such delegate to the vehicle that will convey the

I am indeed humbled by this nomination and will like to state that this is our collective victory and thank you all. This is only the beginning.

The challenge is for us, to take the contest to the next level. As a party, we must continue to work as a team to deliver victory at the September 10 Governorship election.

And let me assure you that we will win

Obaseki...looking forward

delegates to the venue of the election. The exercise displayed love and understanding among the APC delegates and as such, the delegates should support whosoever emerges as candidate of the party,” Okunsun said.

A total of 1,200 policemen were reportedly deployed to provide security for the governorship primaries and it was associated to part of the reasons for the orderliness that characterised the exercise.

One of the aspirants, Esele, also attested to the fair conduct of the party primary, when he commended the exercise and urged his supporters to work for the success of the party in the election.

“I thank you from the bottom of my heart for your support. This is also to give my support and good wishes for Mr. Godwin Noghaghase Obaseki on his victory as our party flag bearer. Let us all join hands to support him in the general election.”

On his part, Governor Oshiomhole described the exercise as credible and that it is an entrenchment of the democratic principle of one man, one vote.

“Having monitored and watched everything that has happened here. We are celebrating democracy; Edo is leading in living by example. If you compare what has happened in some other places, obviously, this is an outstanding achievement. You will remember that this is where we launched one-man-one vote and what we have demonstrated today is a case of one-man-one vote and I am glad that the delegates won. The delegates have spoken. Now, the party should be more united.

We are ready to hit the ground running for the campaigns and God-willing by September 10, I am sure Edo people will re-affirm the bond between them and the APC. “Every aspirant got recognition by the delegates; at least nobody went home without any vote. Like the chairman of the organising committee said, everybody won. Like I said, if you have 12 angels on parade and if you want to select one, we have

selected a candidate, we all now have to work together which is something we understand from the beginning. I believe everybody, who contested understood, they now have to work together to deliver the ticket and I think that would not be a problem.”

Oshiomhole said further that: “If you listen to the speech of the candidate, the guy is sound. He is at home with the issues. He is not a stranger to governance. For seven and a half years, he has been part of the system. In the brain box, there is no space for learning. The guy is already ready to go hit the ground leaning. For me, I feel fulfilled but you know in Nigeria, people are always in a hurry to throw mud. The way the thing has gone, I am sure the media had shown it live and I am sure that Nigerians wherever they are, have a position.”

As regards its main challenger, the PDP, Oshiomhole said: “There is no PDP. Which of the factions are we going to face? You have one body several heads even when they were potent, we defeated them. So, there is no cause for concern.

We will go for the election; there are other parties in the state, PDP will not be an issue and I don’t think Edo people will forget the crime of PDP in a hurry not for the next 20 years in this state.”

While giving his acceptance speech, Obaseki said: “Today is a great day for our democracy and for our party, the All Progressives Congress (APC). It is a great day for development in Edo State. Today, we have commenced another phase in our journey into our brighter future – a future which will define us as a modern and progressive state, where every citizen is empowered with opportunities to live life to its fullness.

“I am indeed humbled by this nomination and will like to state that this is our collective victory and thank you all. This is only the beginning.

The challenge is for us, to take the contest to the next level. As a party, we must continue to work

as a team to deliver victory at the September 10 Governorship election. And let me assure you that we will win.

“The administration of the Comrade Governor came on the heels of decades of mismanagement, unproductive and failed policies, all shrouded in excuses by the PDP past government. But in the face of these challenges, the administration dared to envision an Edo State that will become a leading economic centre in Nigeria, where the people live in dignity, powered by a government that is responsive to their needs. Today, we are proud that Edo stands out as a success story. We will build on that success and continue to live up to the metaphor of our state – The Heartbeat of Nigeria.”

It’s indeed a victory worthy of celebration for Obaseki and his supporters, but the APC leadership in Edo State cannot pretend that there is need to pacify other aggrieved aspirants in the race and to that extent, the party immediately kick-started moves to reconcile all aggrieved aspirants and political groups because it is a known fact that in the run-up to the primaries, there were allegations of Permanent Voters’ Cards (PVCs) mop-up, bribery of delegates and observed support for Obaseki, who eventually secured the ticket.

Odubu had stormed out of the Samuel Ogbemudia Stadium, Benin City venue of the primary before the results were announced in the early hours of Sunday by Masari and while Imansuagbon was yet to make either negative or positive statement about the conduct and outcome of the primaries, it is obvious that he and the likes of Airhiavbere, Osula, Osunbor and other aspirants are relevant to the success of the APC at the general election and must be reunited with the winner so that they don’t work at cross-purposes.

Thus, in his reaction to the fall out of the primary election, the Edo APC, in a statement by its Publicity Secretary, Godwin Erhahon, on Sunday, pledged to reunite all rival groups that went into the primary to ensure victory for the party in the forthcoming governorship election.

The statement read in part that: “We appeal to all aggrieved persons to forgive all pre-primary offences and cooperate as members of one family to mobilise voters for the APC in the forthcoming governorship election. The APC and its government in Edo State will strive to heal all wounds and pains, physical and emotional; that may have been sustained or felt during the battle for various aspirants towards the primaries.”

A lot of political watchers in Nigeria are waiting earnestly to see how much the reconciliation would work and how it would translate into victory for the ruling party.

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T H I S D AY • WEDNESDAY,JUNE 22, 2016

UPDATE&TRENDING

MIDWEEKPOLITICS

Ahmed’s Dilemma and the Struggle for Survival Caught between the current economic realities and the responsibility of delivering on his electoral promises, the Kwara State Governor, Abdulfatah Ahmed is presently battling his biggest challenges, writes Hammed Shittu

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ince assuming office in 2011, the Governor of Kwara State, Alhaji Abdulfatah Ahmed has taken pragmatic steps towards ensuring that the development and growth of the state of remain his key priority. His determination to move the state forward was not far-fetched as Ahmed was part of the crucial part of the immediate past administration of Dr. Bukola Saraki for almost eight years, during which he held very strategic positions.

He was the Commissioner for Finance for almost six and a half years before he was moved to the Ministry of Economic Development, where various policies and programmes of the immediate past administration were designed.

These two important offices during the period afforded Governor Ahmed the opportunity for serious inputs and exposures in the art of governance, which had prepared him for the progress of the state.

As a result, he was instrumental to nearly all the programmes left behind by his predecessor in office and ensured that all the uncompleted projects left behind by the past demonstration are completed for overall development and growth of Kwarans.

His works in the first term in office between 2011 and 2015 were mainly on the completion of all uncompleted projects left behind Saraki while new ones were also embarked upon in the determination to ensure that the dividends of democracy get to the doorsteps of the rural populace across the 16 local government councils of the state.

The legacy projects that were completed during the first term cut across roads, education, health, such as Ajase-Ipo international vocational center, completion of Ilorin Metropolitan Square located along Asa dam road, completion of Ibrahim Sulu Gambari-Post Office road, Offa garage-Micheal Imoudu dual road and the Ilorin water reticulation project, among others.

The administration also awarded the renovation of five General hospitals located in Ilorin, Share, Offa, Omu-Aran and Kaima. The affected hospitals were equipped with contemporary health facilities and with competent medical personnel to reduce infant mortality in the state. It also embarked on the construction of new roads across the tree senatorial districts of the state.

In the education sector, Ahmed constructed modern day school buildings while teachers’ welfare received major attention. The administration also lived up to expectations by ensuring the protection of lives and property of the people.

Here, it purchased security vehicles for the state police command while transport owners like National Union of Road Transport Workers (NURTW), Road Transport Employers Association (RTEAN) received the support by making available, buses at low interest rate to them. Women and youths empowerment were not left out as they were given soft loans to start businesses. This was believed to have helped reduce social vices in the state.

The operation no-pot-holes on various major roads within the Ilorin metropolis was also introduced by the administration while the youths were given employment under the scheme of Kwara State Bridge Empowerment Scheme (KWABES) and after their one year service, some of them were given permanent employment in the state ministries. These were the situation of things during the first term of the administration.

However, upon resumption for the second term, the administration set the ball rolling with the commitment to add more values to the socio-economic growth of the state.

During his inauguration for the second term, the governor said, “By now, most of you know the challenges we face; our national economy is on its knees.

“Global oil prices, the mainstay of our economy, are dropping daily, limiting our

Ahmed...change on his mind

ability to fulfill our obligations. These challenges are enormous but we refuse to give in to despair and I believe that this will be a defining moment in our history.

“I, Abdulfatah Ahmed, will not rest until the prosperity that our state once enjoyed is restored. My administration’s priority remains the people’s welfare. We will build more schools, roads, hospitals, power projects and structures needed to get more of our youths working, businesses growing, food on more tables and greater prosperity for everyone, who calls Kwara State home.

“This administration will upscale development

He was the Commissioner for Finance for almost six and a half years before he was moved to the Ministry of Economic Development, where various policies and programmes of the immediate past administration were designed. These two important offices during the period afforded Governor Ahmed the opportunity for serious inputs and exposures in the art of governance, which had prepared him for the progress of the state

and boost entrepreneurship to get a greater number of our youths working. Starting from today, we will begin the work of transforming our state to the North Central’s Economic hub.

We will create a new frontier of prosperity, where everyone has the opportunity to better their lives subject only to their willingness to apply themselves.”

And despite the dwindling federal allocation accruable to the state in the last one year, Ahmed has continued to develop and grow the state. Among such giant strides put forward for the benefit of the good people, which cut across different sectors are roads construction, provision of housing accommodation, construction of commercial hub located along Fate road, Ilorin, the continued works on Ilorin water project, provision of drugs to some hospitals and health clinics and construction of schools among others.

Some of the roads already awarded for construction include Aduralere-IsalekokoOjagboro-Sanu Sheu road, Henry GeorgeAgbo-Oba road, Henry George-Unilorin mini campus road, Ita-Alamu village road, Oloro’s palace road, Share-Oke ode (lot 1), Share-Oke ode (lot 2), and Kishi-Kaiama road.

Others are Egbejila road, Ilorin, Arobadi Magida road in Moro LG, Baboko market road, Ilesha Baruba-Gwanara road, Rore-Ipetu road, construction of three-span bridge in Ilala, Ifelodun LG, and Anilelerin road, Offa.

For the administration that has set the pace in the delivery of good governance and believes in sustaining the legacy of development, the administration of Ahmed penultimate week, after its weekly executive council meeting in Ilorin, announced some projects that would be of legacy ranking in the present administration.

Briefing journalists, Commissioner for Works, Alhaji Aro Yahaya said the state executive council approved the construction of Geri-Alimi split diamond interchange in order to ease peak-time congestion in the axis at the cost of N2.9billion.

The project, which according to the commissioner, would be in three phases includes reconstruction of Geri Alimi Sawmill garageGeneral Hospital road. He said the council took the decision in order to reduce the traffic situation at the Geri-Alimi roundabout and also improve the beautification of the area.

Yahaya further explained that Egbejila-Asa road and Gerewu phase one already under construction were to serve as a link and alternative routes, when the Geri-Alimi Split Diamond Interchange project begins.

The commissioner, who said only Lagos and Abuja had similar project at Maryland and Mabushi explained that the project, when completed would accommodate more vehicles than that of Maryland in Lagos.

He added that the council also approved the dualisation of Ita-Alamu-Micheal Imoudu-Afon junction and the dualisation of Kulende-Oyun-UITHC-Oke-Ose road to decongest traffic along the axis and allow free easy vehicular movement and passengers.

In his presentation at the briefing, Managing Director of the contractor handling the project, BAL Engineering Limited, Alhaji Bashr Lawal explained that the close circuit television camera and a security post would be provided to give adequate security in and around the interchange of the projects.

With the current move by the administration of Governor Ahmed to reinvent the echoes of projects of legacy in the state, there is no doubt that the possibility of the state to witness more socio-economic development would be higher and this would have multiplier economic effect on the social wellbeing of the populace in the area of industrialisation which in turn would aid job creation and also improve the socio-economic advancement of the Kwarans.

If successive governments take a cue from this development ingenuity as it is being done by the present administration, the state will be better for it.

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WEDNESDAY, JUNE 22, 2016 • T H I S D AY

FEATURES

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

Helping Boko Haram’s Abandoned Harems Aisha Bulama, forcefully married to a member of the dreaded Boko Haram sect, was later divorced and rejected by the society. Michael Olugbode writes that she and other women with similar ordeals could have remained as outcasts but for the psychosocial support provided by UNICEF

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isha Bulama was a pretty girl from birth, she was a delight of everyone in her area in Bama and before she attained 15 years, suitors had started coming for her hand in marriage. Her father sensing that something urgently needed to be done before the situation became embarrassing, accepted the proposal of one of her numerous suitors and a day was planned for the engagement.

As the plan was on, little did they know that there was another plan being orchestrated by Bamai Bamassa, a son to the friend of Aisha's father. He had shown interest in Aisha since they were children, but being the shy type, he was unable to indicate his interest in her to her on time. When he found out that Aisha was betrothed to someone else he used his association with the terrorist sect, Boko Haram to abduct her.

Bamassa’s proposal to get married to Aisha to her parents after the abduction, was rejected by Aisha and her parents who did not only felt shortchanged and dishonoured but felt that they would be breaking a commitment which they had freely entered into with Aminu Musa and his family to marry Aisha to them.

But after several threat to their lives, Aisha and her parents resolve were broken and they had to accept the proposal of Bamassa who paid the sum of N10,000 as dowry and the right to have Aisha as wife. One would have thought the story was ended and Aisha would have to live a happy life thereafter, but it was the beginning of a seeming unending sad story as she was reportedly being frequently battered by a husband who had taken to violence as a means to get everything done, just a little over a year into the marriage. So a month after the birth of their daughter, Amina, the marriage had completely broken down and the couple had to go their different ways.

Bamai was my father's friend son and we have known for sometimes but I never knew he was a member of Boko Haram. We got settled together as couple first in Bama and after sometimes when the military came to liberate the town, we moved into Sambisa Forest.

It was never pleasant staying with him, he used to batter me at the slightest provocation.

He eventually divorced me after some time

IDPs in Maiduguri provided with psychosocial support by UNICEF

Women and girls in one of the IDPs camps in Maiduguri

But this is not the end of the tale for Aisha who had to face rejection from her family and the rest of the society until officials of United Nations Children's Emergency Fund (UNICEF) came to her rescue.

With tears in her eyes Aisha recounted

her story: "I am Aisha Bulama, I am 16 years old and had a terrible experience which all started with my forceful abduction by members of the Boko Haram group.

During their first major attack on Bama, they came to our house and I was one of those that were abducted by the insurgents.

But this was not without resistance from

my father. They took us to Bama Prison.

"The insurgents after my abduction later went to my father, they said they want to marry me off to one of them, but my father said no since I was betrothed to someone alse. After my father rejected their proposal, they came back to me to

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WEDNESDAY, JUNE 22, 2016 • T H I S D AY

FEATURES

Another set of women displaced by Boko Haram

tell me what he said and asked if I was ready to marry one of them, I said no as I was not in love with any of them.

"It was at this stage, they threatened to kill my parents and throw them in the well at the prison just as they were doing to some others. After about five days with them, I was able to escape to my sister's place somewhere within Bama, and when they discovered that I was gone, they went back to my father and threatened to kill him if I was not given back to them.

He promised to get me from my hideout, which he did before he was spared. They took me back to the prison.

"After two weeks with them, I was able to escape again, I went to my Aunt's place where I stayed for a week, after which I was allowed to go in company of people to Maiduguri, we were more than 15. On our way to Maiduguri, we were accosted close to Kawuri by a group of insurgents and we're all taken back to Bama and once again to the prison. When the insurgents at the prison saw me, they wanted to kill me but one of them said I was not in my right senses and that could have been responsible for my trying to flee to Maiduguri.

"I was not able to escape anymore for I was placed under heavy watch, they separated the women from the young girls, they put the girls in different houses and married us all. They married 23 of us the same day. They took N10,000 to my father as the dowry. It was Bamai Bamassa, who became my husband that took the dowry to my father.

"Bamai was my father's friend son and we have known for sometimes but I never knew he was a member of Boko Haram.

We got settled together as couple first in Bama and after sometimes when the military came to liberate the town, we moved into Sambisa Forest. It was never pleasant staying with him, he used to batter me at the slightest provocation. He eventually divorced me after some time.

"One day, I told him I want to go to Bama to visit my sick parents but he said no, insisting that if I went I would not come back and rather escape to Maiduguri, we had an argument and he left the house but during his absence I was invited to attend to a neighbour who was in labour.

When he came back and did not see me he was furious and when I explained when I came back, he said he was mindless if the woman in labour had died and that I should not have left the house without his permission. The argument degenerated and he divorced me, I had to stay with my friend within the Sambisa Forest and after sometime I went to Shuwari to stay with my grandmother and after two weeks I left for Bama.

"I have a baby girl, Amina and she was just barely a month old when I was divorced. When I got to Bama, I learnt that my parents were already in Maiduguri,

Women displaced by Boko Haram

Minister of Women Affairs, Aisha Jummai Alhassan...Does she really care about the plight of women and girls displaced by insurgency in the North-east?

and the youth vigilantes in Bama brought me to Maiduguri to look for them, that was about two months ago.

"When I was brought to my father, my brothers said they cannot stay with me

Many perceive these victims of conflict as being partly responsible for the violence and losses suffered by entire communities during the insurgency. As a result, children and newborns as well as their mothers are being increasingly ostracised and are at risk of further violence

for I have stayed with insurgents for so long and perhaps may not be trusted.

My sister who was living elsewhere took me in, and since she was also an IDP in the host community, she only allowed me for just four days before she told me she cannot afford to fend for me and she decided to bring me into the Dalori camp.

After sometime, my mother left my father to be with me at the camp, she said she could not do without me,” Bulama who was uncontrollable narrated her ordeal.

One of the psychosocial staff of UNICEF at the camp who had been on her case, said "it was really difficult for her to settle down at the camp as she was threatened by the Civilian JTF that they will kill her for being one of the wives of Boko Haram.

She could not sleep as she was traumatised and we had to intervene and she was able to get over the situation and she is now relating well with people on the camp, She equally got into knitting of caps to assist herself financially."

According to the psychosocial workers 62 wives of Boko Haram insurgents were

brought from Walasa in Bama alone and have been engaged under the psychosocial support programme of UNICEF, which is done in conjunction with the Borno State Ministry of Women Affairs. In Dalori camp alone there are over 20 cases like Aisha who without the intervention it could have been hard to rehabilitate them from the trauma of early marriage to husbands who knew nothing other than violent agitation.

In a research titled: "Bad Blood", perceptions of children born of conflict-related sexual violence and women and girls associated with Boko Haram in Northeast Nigeria, the report states that: "As these victims of conflict reach Internally Displaced Persons (IDP) camps in Maiduguri Metropolitan Council (MMC) or attempt to return to their villages of origin, many of them are suffering from acute mental distress resulting from sexual, psychological and physical violence suffered in captivity. Yet, a significant proportion of them still face stigma and rejection from their communities. All women and girls who have experienced sexual violence during the conflict face stigmatisation from communities at large. However, the stigma and potential rejection from families and community members have been much more acute for those who are perceived to have been associated with JAS – as abductees, those living in JAS strongholds, or those who were ‘wives’ of JAS combatants either by choice or force.

"The rejection and re-victimisation of women, girls and their children, as well as their yet unborn babies, needs to be understood in the context of the ongoing insurgency. Many people view these women, girls and their children as a direct threat, fearing that they have been indoctrinated and radicalised by JAS. The recent increase in the use of female suicide bombers throughout Nigeria, including under 18 year olds, has also reinforced the widely held belief among many that women and girls exposed to JAS (whether by force or voluntarily) are contributing to the overall insecurity in the region. Some also believe that the children conceived as a result of sexual violence or sexual relations with JAS members will become the next generation of fighters, as they carry the violent characteristics of their biological fathers. Many perceive these victims of conflict as being partly responsible for the violence and losses suffered by entire communities during the insurgency. As a result, children and newborns as well as their mothers are being increasingly ostracised and are at risk of further violence."

It is with the understanding of this and the need to reintegrate Aisha and many others in her situation that UNICEF with the support of other stakeholders, are working to reshape the lives of these unfortunate women. Thousands of women, girls and boys have had access to this scheme and are now doing well.

22

IMAGES

L-R: Abia State Peoples a Democratic Party (PDP) Chairman, Chief Johnson Onuigbo; Abia State Governor, Dr. Okezie Ikpeazu; his Deputy, Ude Oko Chukwu; and a PDP chieftain, Victoria Akanwa, during an interactive town hall meeting for Ukwa East, Ukwa West and Ugwunagbo Local Government areas at the Catholic Institute of West Africa, Ukwa West Local Government...recently

T H I S D AY • WEDNESDAY, JUNE22, 2016

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

L-R: Company Secretary, CAP Plc, Mrs. Rose Hamis; Chairman, Larry Ettah; and Managing Director, Mrs Omolara Elemide, during the annual general meeting of the company in Lagos...recently yomi akinyele

L-R: Director, Lagos State Citizens’ Mediation Centre (CMC), Dr. Oluwatoyin Odusanya; Head of unit, CMC office, Agege, Mrs. Shola Adesanya-Adeogun; Head of unit, CMC office, Yaba, Mrs. Gloria Osilama-Otu; and Chief Public Affairs Officer, CMC, Mrs. Folashade Adebayo, during the team’s visit to THISDAY Head Office, Apapa, Lagos...recently yomi akiinyele

L-R: Company Secretary/Legal Director, GSK Consumer Nigeria Plc, Mr Uche Uwechia; Head of Health and Child Survival, Save The Children Nigeria, Dr Abimbola Williams; Managing Director, GSK Consumer Nigeria Plc, Mr. Thandalam Dayanand; and the Communications and Engagement Manager, Ms. Bolaji Sanyaolu, during the 2016 GSK United Orange Day, in Lagos..recently

L-R: Head of Media Relations and Strategy, Federal Road Safety Commission (FRSC), Bisi Kazeem; Commandant, FRSC Academy, Kenneth Nwaegbe; Corps Marshal, Boboye Oyeyemi; and Deputy Corps Marshal, Training, Ademola Lawal, during FRSC Capacity Development Programme for Intelligence Operatives in Enugu...recently

L-R: Seni Adetu, a former Managing Director of Guinness Nigeria Plc, presenting the Marketing Personality of the Year Award (2016) to Martin Mabutho, General Manager, Marketing, MultiChoice Nigeria, during the Marketing Edge, Brands and Advertising Excellence Awards and Annual Summit 2016 at Victoria Island, Lagos...recently

L-R: Deputy Governor of Sokoto State, Ahmed Aliyu; Governor Aminu Waziri Tambuwal; and Secretary to the Sokoto State Government, Professor Bashir Garba, during the Muslim breaking of fast (Iftar) with Sokoto traders and religious scholars, at the Government House, Sokoto...recently

L-R: Former Permanent Secretary and Facilitator, Mr. Ashamu Fadipe; Special Adviser to Lagos State Governor on Tourism, Art and Culture, Mrs. Adebimpe Akinsola; and the Permanent Secretary in the ministry, Mr. Ashimi Adewale, during the management retreat of the ministry, in Lagos...recently kola olasupo

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WEDNESDAY, JUNE 22, 2016 • T H I S D AY

Group Business Editor Chika Amanze-Nwachuku Email chika.amanzenwachukwu@thisdaylive.com 08057161321, 08033294157

BUSINESSWORLD NIBOR PRIME 1-MONTH

R A T E S LOAN

4.4583% 9.1071%

3-MONTH

A S

11.0102% 3-MONTH 12.3790%

A T

NITTY 1-MONTH 2-MONTH 3-MONTH

J U N E 6.9949% 7.2368% 8.0819%

1 0 ,

1-MONTH 9-MONTH 12-MONTH

2 0 1 6

9.2061% 9.5872% 10.5042%

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

Quick Takes Royal Exchange Appoints Muktari GMD

COURTESY VISIT

L-R: Group Managing Director, FBN Holdings Plc, UK Eke and Chief Executive Officer, Africa, Ernst and Young, Ajen Sita, during a courtesy visit by Ernst and Young to FBN Holdings Plc ...recently

Report: Income Inequality Skewed Wealth, Resources to Pockets of 20% of Nigerians Obinna Chima

The high rate of income inequality has skewed wealth and resources in the country away from the masses to the pockets of the top 20 per cent, a report has stated.

The Financial Derivatives Company Limited (FDC), which stated this in its latest monthly economic bulletin, noted that given Nigeria’s level of development, such level of inequality was no surprise.

Nevertheless, it pointed out that such a situation raises a cause for alarm.

ECONOMY

As measured by the Gini Coefficient, Nigeria ranks second out of 16 West African countries, nineth out of 54 African countries and 26th out of over 190 countries in the world.

“Those at the bottom of the in-come pyramid, who number over 100 million, brawl over a measly portion of the national income pie. Policies to improve the educational system and promote credit accessibility to the lower class will work to curb income inequality and stimulate national growth and

development,” it added.

From 2010 to 2014, Nigeria’s population grew by 12 per cent while Gross Domestic Product (GDP) rose by 54 per cent during the same period. This implies increased economic well-being and gains for GDP per capita. By 2014, Nigeria’s GDP per capita had grown to $3,203, a 38 per cent increase from 2010’s level of $2310.

Research shows that the minimum yearly income needed to sustain a living that provides the basics in Nigeria stands at $1,016 per year in urban areas (N203,000 per year or N16,900

per month) and $758 per year in rural areas (N151,600 per year or N12,600 per month).

However, 74 per cent of Nigerians live below this income level. Out of this, some 40 per cent live under the poverty line i.e. live on less than $1.25 per day. This translates to N7,500 per month and N91,500 per annum, 49 per cent and 48.4 per cent lower than that required as monthly and annual income respectively.

It added: “The variance between Nigeria’s GDP per Continued on page 24

Brexit: FGN, UK May Reach New Agreements on Tariffs Eromosele Abiodun As millions of Britons head to the polls tomorrow to decide whether there should be a British exit, or Brexit, from the European Union (EU), indications have emerged that a possible Brexit will disrupt trade agreements with Nigeria.

Momentum is gathering behind the EU exit campaign, which wants to end central control by Brussels and give Britain the freedom to manage its own affairs.

With Brexit, THISDAY findings revealed that the Federal Government of Nigeria (FGN) and the United Kingdom (UK) would have to reach a new

ECONOMY understanding on tariffs.

Trade volume between Nigeria and the UK currently stands at 6 billion pounds (N 2.4 trillion), the UK Department for International Development invests 222 million pounds a year in Nigeria. When added to the contributions to the World Bank, Britain is investing about 400 million pounds a year in the development of Nigeria.

However, the UK’s development assistance to Nigeria (and other countries) is delivered both bilaterally and through the EU. Reacting to the development, analysts at FBN Quest said they doubt that the process of negotiating the tariffs would be

problematic.

“We would not expect much, if any change in the total envelope, given the traditionally close bilateral ties and Nigeria’s strategic importance. Beyond the short term, we would not see downside for the prime Central London property market, which is international by any criteria.

“We can identify one clear advantage from the UK’s withdrawal for Nigerian (and other non-EU) nationals with professional qualifications. Currently, many large companies in the UK will only consider such applications once all EU candidates have been considered, “they said.The analysts, however, warned that there are possible

general consequences and those that may be specific to Nigeria.

They said: “Economists employed by the UK government, large banks and international organisations have been busy, and the majority have come up with forecasts to show negative consequences for the domestic economy in the event of Brexit.

Despite being a member of the fraternity ourselves, we are wary of any forecasts out as far as 2021 in some cases. The only EU member to have walked away to date has been Greenland. If the UK, which both sides in the domestic debate insist is the fifth largest economy in Continued on page 24

The board of Royal Exchange Plc has announced the appointment of Alhaji Auwalu Muktari, as the substantive Group Managing Director of the firm with effect from June 15, 2016.

This was made known at the end of a meeting of the Board of the company in Lagos recently. Announcing this, the board chairman Mr. Kenneth Odogwu, said Muktari was appointed acting Group Managing Director of the group in January 2016. He commended his service and contribution towards the continuous expansion of the Group, affirming that the board believes in Muktari’s ability to drive the group towards greater profitability and growth in the years ahead. He added that with his extensive experience and knowledge of the insurance industry, his primary assignment would be to drive the continuous growth and profitability of Royal Exchange and make the company a market leader in the financial services industry in Nigeria. Muktari completed his 1st degree in Business Administration and later his Masters Degree in Banking and Finance at Bayero University Kano in 1993 and 1995 respectively. He also attended Ahmadu Bello University Zaria where he obtained a Diploma in Insurance at Credit Level in 1983. He started his working career with the Kano based insurance company, Kapital Insurance Limited and rose through the ranks to become Head of Re-insurance Department.

Muktari joined Royal Exchange Assurance Nigeria (as it was then known) in 1995 as Branch Manager in Kano, with direct oversight and responsibility over the activities of Bauchi, Maiduguri and Yola offices of the company. In 2003, he became the Regional Director, Abuja.

Telecom Labs Unveils Survey Findings

World Telecom Labs (WTL) has unveiled the findings of its recent survey about the management and rollout of voice and/or data deployments in Africa that have been financed by Universal Service Funds (USF). WTL invited people from across the telecoms ecosystem including vendors, operators and ISPs, NGOs and Government Officials to share their experience and opinions about USF and to identify where improvements could be made in the management of USF. A statement showed that 25 per cent of the respondents had been directly involved with a network built using money from USF and were extremely wellinformed and open to sharing their thoughts.The key findings of the survey included that 96 per cent of survey respondents see USF as offering huge potential to solve connectivity and service delivery issues in rural environments; and operators, NGOs and government agencies all expressed an interest in delivering connectivity to unconnected areas with 86 per cent of respondents feeling strongly that a combination of all three is required in order to unlock investment. This implied that connecting the unconnected requires a coalition – a collaborative approach between all relevant stakeholders, including vendors who can offer technology to deliver the connectivity required.

US Shale Producers Eye New Chapter

Two years into the worst oil price rout in a generation, large and mid-sized U.S. independent producers are surviving and eyeing growth again as oil nears $50 a barrel, confounding THE Organisation of the Petroleum Exporting Countries (OPEC) and Saudi Arabia with their resiliency.

That shale giants Hess Corp, Apache Corp and more than 25 other companies have beaten back OPEC’s attempt to sideline them would have been unthinkable just months ago, when oil plumbed $26 a barrel and collapses were feared.

According to Reuters, to regain market share, the OPEC in late 2014 pumped more oil despite growing global oversupply. It aimed to drive prices lower and force higher-cost producers out of the market, with shale oil seen as especially vulnerable.

The pain was acute. Industry revenue fell more than 30 percent in 2015 from the previous year, the U.S. drilling rig count dropped by more than 70 percent from when oil was still above $100 per barrel, stock valuations plunged and scores of small producers filed for bankruptcy.

“As long as there’s one window, whatever comes out at the end of the day as the marginal rate, will be the rate that will be recognised officially as the rate of the naira.

CBN Governo

Mr. Godwin Emefiele,

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WEDNESDAY, JUNE 22, 2016 • T H I S D AY

BUSINESSWORLD REPORT: INCOME INEQUALITY SKEWED WEALTH, RESOURCES TO POCKETS OF 20% OF NIGERIANS capita and the actual average income of the population reflects the problem of income inequality. Income inequality refers to the manner in which income is unequally distributed amongst the population.

“Income inequality in Nigeria is so deeply rooted into the very mechanics of the country that many have become desensitised to the problem and lost sight of its genesis. Firstly, the disparity in income is the result of a segmented labour market (into the formal and informal sector). Such segmentation also has its roots in the ailing public education system. The direct relationship between educational level, skill, and income follows the basic principles of demand and supply; as there is a low supply of skilled workers relative to unskilled workers, the price for skilled workers, i.e. wages, are relatively high.

“The gap is further exacerbated by the unavailability of jobs and the inaccessibility of credit and financing. Thus, those in the lower class have limited to no opportunities to get a part-time job or a loan to help provide the funds needed to finance their educational or vocational training.

BREXIT: FGN, UK MAY REACH NEW AGREEMENTS ON TARIFFS the world, takes the same step, there would be a period of legal uncertainty as several treaty obligations would have to be unwound.

“The length of this period would hinge upon the stance of the EU and, to a lesser extent that of the UK Parliament, which has a large majority in favour of continued membership The Brexit camp argues that the EU would not be obstructive since the UK runs a substantial trade deficit with the union.

The UK is not a member of the Eurozone. Sterling has sold off ahead of the referendum, and some investment banks are suggesting a further fall as far as 1.10 for GBPUSD in the event of Brexit. Renewed weakness would be consistent with a period of legal uncertainty.

Group Business Editor

Chika Amanze-Nwachuku Maritime Editor

John Iwori

AgriBusiness/Industry Editor

NEWS

Nigeria Can Leverage on ICT to Diversify Economy, Says Minister Emma Okonji The Minister of Industry, Trade and Investment, Dr. Okechukwu Enelemah has stressed the need for the private sector to key into government initiatives by leveraging on Information and Communications Technology (ICT) to boost economic diversification in the era of crumbling oil boom.

The minister, who spoke in Lagos at the BusinessDay Technology Conference, with the theme ‘Beyond Oil: ICT As a Viable Alternative’, stressed the need for diversification of the Nigerian economy from over dependence on oil, through ICT initiatives. According to him, technology has made it easy and cost effective to reach out to a large number of people.

One of the focus of the Buhari government is to ensure that all government programmes that have been launched are implemented to reach out to millions of Nigerians. In the past, government programmes have mainly been driven on a pilot phase and at the end of the day, not many people benefitted from it because it was seen as pilot programmes.

“So technology has a key role to play to ensure that government reaches out to a large number of audience, using ICT tools,” the minister said.

He explained that earlier this month, the federal government

launched a presidential innovation competition from which will emerge, 50 talented technology ideas from people that will be matched with mentors for financial support as well as presidential recognition.

“ICT had always played important roles in supporting the government major reform projects in establishing an institutional culture of transparency

in corporate finances. The Bank Verification Number (BVN) initiative was implemented in 2015 to serve as a biometric database for all bank holders’ accounts. From that initiative, government as able to detect over 40,000 ghost workers in the federal payroll, thus saving billions of naira monthly and that is just part of what ICT is doing for government,”

Enelemah said.

He reiterated that the primary engine of growth in ICT is the private sector, adding, government’s role in this regard is to be an enabler of technology growth by creating the right environment for technology related businesses to thrive.

“Government’s role is to set out clear and consistent policy to create a space for funding

and investment, the minister added.

“This is why at the top of our five-fold agenda of the Ministry of Industry, Trade and Investment, lies the ambition to create an enabling environment for industry, trade and investment. So we want to be known a ministry of enabling environment for ICT businesses”, he stressed.

YOU ARE CERTIFIED

L-R: Executive Director (ED), Operations & Technology, Keystone Bank, Yvonne Isichei; MD Keystone Bank, Philip Ikeazor; MD Digital Jewel, Doyin Odunfa; ED Corporate Bank & Treasury, Keystone Bank, Hafiz Bakare; ED Lagos & West, Keystone Bank, Innocent Ike, at the presentation of certification in Business Continuity Management-ISO 22301 in Lagos…recently

FG Unveils New Debt Management Strategy Goddy Egene The federal government has unveiled a new debt management strategy to run from 2016 – 2019 aimed at a marginal increase in external borrowing and increased commitment to capital projects execution.

The Director General of the Debt Management Office (DMO), Dr. Abraham Nwankwo, disclosed the three-year debt management strategy on Monday in Abuja.

A statement by the agency quoted Nwankwo to have said that the new debt management strategy approved by the Federal Executive Council last Wednesday, is aimed at economy recovery and diversification.

The DMO boss explained that the focus of the new initiative is to develop a debt management strategy that would ensure that in the face of macroeconomic and other financial constraints, the cost and risk profile of the public debt portfolio remains

within acceptable limit over time.

He reiterated that that the strategy is in line with President Muhammadu Buhari’s vision to generate maximum employment, reduce poverty and increase the living standard of Nigerians.

He said, for this to be effectively achieved, the government is making positive efforts in diversifying the economy as against the backdrop of structural collapse in oil prices and oil revenue.

Nwankwo said: “The Debt Management Strategy we are going to pursue over the next four years, takes into account the fact that for now Nigeria’s public debt portfolio is dominated by domestic debt. After the Paris and London Club exits between 2004 and 2006, the country took a deliberate decision to develop its domestic bond market and to do most of the public borrowing from domestic sources so as to develop the domestic bond market, that objective has been sufficiently achieved.

“And therefore taking into account that external financing sources are on the average cheaper than domestic sources, it becomes more necessary to slant more of the borrowing in favour of external sources.

“Therefore one of the major elements of this strategy is that over the medium, term we will strive to remix the public debt portfolio from 84 per cent domestic and 16 per cent external to 60 per cent domestic and 40 per cent external.

“In addition taking into account other factors, the fact that over the next four years public borrowing proceeds will be devoted to capital expenditure an element of the strategy is to ensure that we remix the current status of about 31 per cent shortterm and 69 per cent long-term to a maximum of short-term 25 per cent and the minimum of long-term 75 per cent. So we are remixing between external and domestic and we are also remixing within the domestic,

between short and long-term.”

Justifying the decision to remix in favour of external debt, he said the country would be able to achieve cheaper cost of funds, lower debt servicing and avoid the risk of crowding out the private sector from accessing the domestic market, adding that the private sector is still expected to play the lead role to compliment government’s effort.

While dismissing concerns on government’s decision to focus on external borrowing in a country currently facing foreign exchange constraints and harsh macroeconomic environment, he stressed that the new strategy is the best for the Nigerian economy as the government is presently making sustained efforts on diversifying the economy, noting that in the next 5-7 years export proceeds accrued to the economy will be more and our exchange rate will be favourable.

While encouraging Nigerians

that the future will be sustainable, the DMO boss further stated that the citizens should take advantage of the current challenges as a stepping stone to actualise their vision and achieve their dreams.

“One of the questions that will naturally arise and which many of you have asked us, has to do with the challenge of foreign exchange constraints,” Nwankwo said.

“At this point in time our exchange rate is not very favourable and our reserves are not as buoyant as they used to be and people are raising the question while would you go for external borrowing when you have foreign exchange constraints. However, a closer look at the issue shows that the strategy the government has chosen is still the optimum strategy and the secret to arriving at that conclusion is simply to differentiate between a short-term static situation and a long-term dynamic situation.

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)

Nigerdock Expresses Worry over Paucity of Jobs for Local Contractors Ejiofor Alike The Chairman of Nigerdock Nigeria Plc FZE, Mr. Anwar Jarmakani has raised the alarm that paucity of jobs for indigenous contractors in Nigeria’s oil and gas industry would lead to unemployment and make Nigeria uncompetitive.

Speaking on Monday at the Snake Island facility of

the company during the sailaway ceremony of the Ofon Phase 2 platforms fabricated by his company for Total E & P Nigeria Limited, Jarmakani argued that a consistent work programme should be developed for indigenous contractors to train and employ the youths of the country.

According to him, a stopstart programme will keep the contractors and the rest of the

country uncompetitive, thus hindering them from reaching their full potential.

“During the peak of projects, Nigerdock had over 5,000 highly trained professionals employed; unfortunately as these projects are reaching their close-out, the number will continue to reduce. A consistent work programme must be developed for champions of industry like Nigerdock, so that we can keep

employing the great youths of this nation and train them to be leaders in their craft and trade.

We will be able to have a more sustainable investment model and we can be more competitive and economical in our market,” he explained.

Jarmakani also disclosed that the Ofon platform was the first engineering, procurement, construction and onshore commissioning (EPC) contract

awarded to an indigenous contractor.

“Following the start of this project, it has been a celebration of one milestone after another, culminating into the full completion and delivery and of the project work scope. The project will bring about additional oil and gas production from 25,000 barrels of oil equivalent per day to 65,000 barrels per oil equivalent per day.

25

WEDNESDAY, JUNE 22, 2016 • T H I S D AY

BUSINESSWORLD

EQUITIES WATCH

N60bn Bond Boost for Lafarge Africa

Goddy Egene writes that the raising of a N60 billion bond by Lafarge Africa Plc to refinance the debts of its subsidiary, United Cement Company Limited, will enhance its cash flow and bottom-line in the near future

Doing business in Nigeria has been very challenging. Apart from grappling with poor infrastructure, high cost of funds is another big challenge manufacturers contend with.

With banks loans attracting interests as high as 20 per cent, companies that finance their operations with bank debts end up with lower bottom-lines. Significant part of their revenues go to the payment of banks interests and charges, leading to lower profits. Lafarge Africa Plc, a leading cement manufacturing company, has been affected by the challenging operating environment and high financing costs.

For instance, the company paid a total of N11 billion as financing costs for the year ended December 31, 2015, with over N8 billion paid as interest charges on bank loans. This development affected the company’s bottom-line for the year.

However, one of the factors that led to the high interest charges is the huge bank borrowing

by Lafarge Africa to finance expansion at its subsidiary, United Cement Company Limited (Unicem).

But relief has come for the company following the raising of N60 billion bond by Lafarge Africa, last week.

The N60bn bond Lafarge Africa successfully concluded the Series I and II N60 billion Bond Issuance. It comprises three year 14.25 per cent bond due 2019 (Series 1 Bond) and N33.614 billion five year 14.75 per cent bond due 2021(Series 11 Bond). The dual-series issuance, the first of its kind and largest ever bond issuance by a corporate in Nigeria’s debt capital markets, was concluded through book building with the order book oversubscribed.

Commenting on the bond issuance, Chairman of Lafarge Africa, Mr. Bolaji Balogun, said: “This largest ever bond issuance by a corporate in Nigeria’s capital markets, affirms Lafarge Africa’s reputation as a prime issuer. We are grateful for the overwhelming support we have received from domestic institutional investors, especially the Nigerian pension funds. We also wish to thank the Securities and Exchange Commission (SEC) for its support on the completion of the transaction.”

Speaking in the same vein, Group Managing Director/CEO, Lafarge Africa, Mr. Michel Puchercos said: “The proceeds of this issue will

allow Lafarge Africa Plc part-refinance the debt of its now wholly-owned subsidiary, Unicem.

These proceeds will deliver savings in financing costs to Unicem and Lafarge Africa. Unicem is currently undergoing a 2.5mtpa capacity expansion which will be completed by the end of 2016.”

Impact on company Market analysts said just as the CEO of Lafarge Africa explained the bond, which is long term instrument with lower interest payment, would save financing costs to the company.

“The expansion of the Unicem from 2.5 mtpa to 5 million mtpa has been financed by short terms borrowings. This has been affecting the bottom-line. But the N60 billion will be used to refinance the debt so that cash flow will improve, save costs and eventually enhance its profit,” an analysts said. The source said the bond lower Unicem’s borrowing cost by over four per cent.

2015 full year results Lafarge Africa, which is a subsidiary of LafargeHolcim, the world’s largest building materials company, ended 2015 with a profit after tax of N27 billion and recommended a cash dividend of 300 kobo per share and a bonus of one new share for every 10 shares already held.

Specifically the audited results of the company showed that it recorded a revenue of N267.2 billion in 2015, up marginally by 2.5 per cent from N260.8 billion in 2014.Gross profit stood at N82.5 billion compared with N83 billion in 2014. Operating expenses grew by 20.5 per cent from N30.6 billion to N36.9 billion, while net financial cost rose by 13 per cent from N7.9 billion to N9.0 billion. Profit before tax fell by 27 per cent from N40.4 billion to N29.3 billion, while profit after tax declined by 20.2 per cent to N27 billion, from N33.8 billion in 2014.

According to the company, South West operations grew by eight per cent behind a number of initiatives such as the Key Distribution Scheme, a strong route to market and solid capacity utilisation. ReadyMix Nigeria continued its strong growth with a 29 per cent increase over prior year. South African revenues grew by seven per cent in the last quarter. Lafarge Africa explained that Ashaka operations are

normalised, following the security challenges in the region which affected demand for cement in the North.

“Management remains very optimistic about the long term outlook for Ashaka, which is foreseen to return to strong growth in 2016.

Plant operations were mostly stable with gas utilisation in the 90s in South West and Mfamosing operations. The South African cement operations returned to growth in Q4 with production up by 28 per cent versus last year, following the kiln overhauls in Q1 2015.

“Group after tax profit declined by 20 per cent versus last year, when taking into account the one-off restructuring costs and the unrealised exchange impact on the Mfamosing operations foreign currency borrowings from the parent group, LafargeHolcim, the world’s largest building materials company. The one-off impact of the adjustment to the naira value of the foreign currency borrowing, due to the deterioration in the naira exchange rate, is to a large extent an accounting exercise as Lafarge Africa PLC is not foreseen to repay the shareholder loans in the foreseeable future, which makes up the majority of the foreign currency borrowing.

Excluding these one-off/none operational impacts, profit improved by six per cent versus last year behind the strong underlying fundamentals of Lafarge Africa Plc’s operations. Cash flow from operations was robust at N57.9 billion,” the company said.

According to the company, it continues to deliver good performance with significant upsides to come as new cement and power generation capacities come on stream and synergy benefits from the merger in Nigeria flow through.

“Our business integration process has been successful and as a company we are optimistic to deliver improving performances in 2016 and beyond, improving value to our shareholders,” the company added.

Rosy future According to the company, the overall Nigerian cement market is foreseen to grow robustly in 2016 behind a strong Individual Home Building Segment.

“The Federal Government of Nigeria has also shown strong indications to support infrastructure growth in the coming year. Lafarge Africa will be able to leverage its unique footprint in 2016

with Ashaka returning to growth, ReadyMix securing high volume contracts to support its eight existing, and new plants to be commissioned as well as the new 2.5 million tons cement line due to be commissioned in Mfamosing in half year of 2016,” it said.

Lafarge Africa added that the South African market will remain challenging, it would will leverage the 2015 investments within the cement operations with a revamped sales team and route to market.

The company noted that in aggregates, it will continue to benefit from its strong network delivering results with two new quarries, being opened in the Gauteng market and Ready-Mix growth.

“Overall, new strategies in penetrating retail, new geographies and the technical segment are expected to allow Lafarge Africa volumes to grow above a flat market in all three product lines. The Lafarge Africa group will continue to seek innovative ways of improving product offerings in the Nigerian cement, concrete and aggregate market in 2016,” it said.

Analysts’ comments Commenting on the 2015 results, analysts at Afrinvest West Africa said the positive performance in turnover of the group in 2015 was largely supported by 3.3 per cent growth in consolidated Nigerian operations which offset a 2.0 per cent contraction in South Africa sales. The South African market has continued to experience volume and price pressures in a declining economic and industry growth environment and stiffer competition brought about by new entrant (Sephaku Cement) and importations.

They said: “On the contrary, Nigerian operation was resilient due to strong prices of products in H1 of 2015, ramp-up of capacity utilisation in South West operation near optimal level (to 86.4 per cent in FY:2015 from 80.9 per cent in 2014). Ashaka sales was down 17.7 per cent impacted by production disruption in H1:2015; while United Cement sales declined 1.2 per cent on what management attributed to volume shut-in in Q4:2015 due to flooding. In summary, the three cement operations in Nigeria (Ashaka, UNICEM and South West) saw a combined 0.8 per cent increase in capacity utilisation to 80.1 per cent while Ready Mix Concrete (RMC) sales volume was up 26.4 per cent.”

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WEDNESDAY, JUNE 22, 2016 • T H I S D AY

BUSINESSWORLD

ANALYSIS

Ensuring Transparent, Sustainable Capital Market Eromosele Abiodun writes on efforts by the Nigerian Stock Exchange to ensure that sustainability and transparency thrive in the capital market to bring about development and responsible business practices on the Nigerian bourse

NSE building

Sustainability reporting is a vital step towards achieving a sustainable global economy. Reporting enhances companies’ accountability for their impacts and therefore enhances trust, facilitating the sharing of values on which to build a more cohesive society. The availability of sustainability information can be used by governments to assess the impact and contribution of businesses to the economy and to understand, which issues are being tackled by which players.

Widespread sustainability reporting practices, creating transparency, can also help capital markets function more efficiently and indicate the health of the economy. It also helps drive progress by all organisations towards a smart, sustainable and inclusive growth. Organisations can use reporting to inform their risk analysis strategies and boost their business. A growing number of companies see sustainability reporting as a means to drive greater innovation through their businesses and products to create a competitive advantage in the market. Governments, businesses and stakeholders all directly benefit from it, and the positive impact on social, environmental and human rights issues is evident.

Specifically for organisations, sustainability reporting adds value in a number of areas.

For instance, it helps to build trust, improved processes and systems, progresses vision and strategy, reduce compliance costs and create competitive advantage.

Put simply, transparency about non-financial performance can help to reduce reputational risks, open up dialogue with stakeholders such as customers, communities and investors, and demonstrate leadership, openness and accountability.

Another advantage of sustainability reporting is that internal management and decision-making processes can be examined and improved, leading to cost reductions by measuring and monitoring such issues as energy consumption, materials use, and waste.

Comprehensive analysis of strengths and weaknesses, and the engagement with stakeholders that is necessary for sustainability reporting, can lead to more robust and wide-ranging organisational

visions and strategies. Importantly, companies can make sustainability an integral part of their strategies.

Also, measuring sustainability performance can help companies to meet regulatory requirements effectively, avoid costly breaches, and gather necessary data in a more efficient and cost-effective way.

Through sustainability reporting, companies seen as leaders and innovators can be in a stronger bargaining position when it comes to attracting investment, initiating new activities, entering new markets, and negotiating contracts.

While sustainability reporting is not part of the corporate strategies of most companies in Nigeria, it important to note that the advantages of imbibing this culture far outweigh whatever excuses companies adduces to not doing so.

Promoting Sustainability To ensure that listed companies on the Nigerian Stock Exchange (NSE) and other stakeholders in the capital markets are carried along in its effort to ensure sustainability in the capital market, the NSE, has organised several seminars to drive down the message. In collaboration with stakeholders, the NSE recently organised a seminar aimed at ensuring that no one is left out of its effort to ensure transparency in the capital market.

Speaking at the Nigerian capital market sustainability reporting seminar in Lagos, the Chief Executive Officer of the NSE, Mr. Oscar Onyema urged companies to embrace sustainability reporting, saying it has many benefits.

He said at the NSE, they have a number of motivational factors for the promotion of sustainability reporting initiatives.

“Firstly, we understand that transparency builds trust which is a critical ingredient to a well-functioning market and economy. Secondly, it has been proven that strong environment social and governance (ESG) performance attracts the growing number of investors interested in the long term sustainability of their investments.

Companies integrating ESG performance into their business strategy and operations show that the benefits range from improved resource

efficiency, improved stakeholder relations and social license to operate, enhanced access to markets and investor confidence, as well as product and service innovation – all leading to enhanced competitiveness,” he said.

According to him, traditionally, stock exchanges have become the nexus for the interaction between investors, companies, policymakers and regulators.

“Exchanges have played a crucial role in building transparent, regulated markets and promoting best practice in financial and corporate governance disclosure among listed companies. Today, exchanges are also well suited to help with the 21st century sustainable development challenge as they are uniquely placed to facilitate action as regards sustainable business, with a variety of measures at their disposal. These include listing requirements related to sustainability reporting, voluntary initiatives, guidance documents and training for both companies and investors, and sustainable investment products such as indexes that focus on ESG issues. There is a recognised need for enhanced levels of corporate transparency on ESG and as an exchange we are well positioned to encourage and even require listed companies to produce better sustainability reports that are issued consistently and with comparable information,” Onyema stated.

The NSE boss added that currently, a range of capital market stakeholders are increasingly recognising the need for more widespread and consistent ESG disclosure, and are looking to policymakers and regulators for potential solutions.

“With more than a decade of voluntary initiatives and thousands of large companies producing ESG reports, there is an increased focus on efforts to ensure that improved sustainability performance spreads down from leading companies to the majority who are yet to adopt ESG disclosure practices,” he said.

Onyema disclosed that the NSE has held itself accountable to the highest standards in ESG disclosure, saying in 2013, it established a corporate social responsibility (CSR) Unit and instituted a strategy with goals through four thematic areas of community, marketplace,

workplace and environment.

“Some of our initiatives include: the launch of a Corporate Governance Rating System CGRS, which is designed to evaluate companies based on the quality of their corporate integrity; corporate compliance; understanding of fiduciary responsibilities by their directors and their corporate reputation,” he said.

Sustained Drive Last year, in association with Ernest and Young, the NSE put together the inaugural Nigerian Capital Market Sustainability Conference.

Participants from more than 100 organisations, representing listed companies, capital market operators, non-governmental organisations including foundations, other private companies not listed on the exchange, and ordinary citizens were present at the conference.

Speaking at the conference, Executive Director, NSE, Haruna Jalo-Waziri, said the event was organised to communicate a fact that transparency build’s trust,“and such it is a critical ingredient to a well-functioning market and economy.”

He stressed that with the need to access long-term financing for the anticipated Nigerian economic agenda and newly launched Sustainable Development Goals (SDGs), the capital market will soon become abuzz with investors looking for viable companies that can provide not just quality financial information but also Environmental, Social and Governance (ESG) information.

“Coincidentally, target six of the Sustainable Development Goal 12, encourages companies, especially large and trans-national companies, to adopt sustainable practices and to integrate sustainability information into their reporting cycle.

Therefore, Environmental, social and governance performance will play a crucial role in maintaining business relations, access to markets and capital, “he said.

Disclosure of ESG Performance On disclosure of ESG performance, he added, Continued on page 27

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WEDNESDAY, JUNE 22, 2016 • T H I S D AY

BUSINESSWORLD

ANALYSIS

ENSURING TRANSPARENT, SUSTAINABLE CAPITAL MARKET

Onyema

will enable stakeholders to engage with and understand a company’s true value, highlighting tangible and intangible assets.

“It provides a basis for more accurate assessment of value creation, resilience and health of a company into the medium and long term. Strong ESG performance thus attracts the growing number of investors interested in the long term sustainability of their investments. Companies integrating ESG performance into their business strategy and operations show that the benefits range from improved resource efficiency, improved stakeholder relations and social license to operate, enhanced access to markets and investor confidence, as well as product and service innovation - all leading to enhanced competitiveness.

He added, “I am proud to announce that we are signatories to the Sustainable Stock Exchange Initiatives, Global Reporting Initiative and United Nations Global Compact. Following from all of these efforts the NSE has received recognitions such as the “Best Initiative in support of SMEs and the Millennium Development Goals”by Africa Investor and “Best Corporate Social Responsibility Company” by African Business Awards. In this sustainability crusade, there’s a role for government agencies as well, and by that we mean, we expect to see more of sustainability policies and guidance.”

Jalo-Waziri stated that there are equally important roles for civil society, private companies, philanthropic organizations and individuals, and most importantly, for collaborations amongst these groups.According to him,“Collective action is critical and so is individual action. For, at the end of the day, it is individuals who have the power to change their behaviour and the behaviour of their organisations. When we decided to hold this conference and especially over the last few days, we have been overwhelmed by the enthusiastic support from our partners, stakeholders and individuals.

“I hereby encourage everyone here to reach out to your networks and spread the news about this conference. We look at this conference as more than a one-day event. We are committed to working together with all of you to catalyse new initiatives and raise awareness on the need for responsible business practices.”

He added:“Through our effort at this conference, we would like to hear your ideas on innovative approaches for sustainable developments, particularly for the adoption of Sustainable Disclosure Guidelines, and with an emphasis on the Nigerian Capital market.”

Recommendations At the end of deliberations participants agreed that good corporate governance is key to sustainability.

They therefore, called on the NSE to promote best corporate governance practices amongst

Director General of SEC, Mr Mounir-Gwarzo

stakeholders, enforce strict compliance with regulations.

They added that board of directors for organisations should be encouraged to set the right tone at the top and promote the right corporate culture within their organisations.

The NSE was also asked to ensure environmental, health, safety and social audits. The Exchange was asked to put in place specify key sustainability disclosure KPIs for companies listed on the NSE and promote sustainability drive through advocacy, and institute a system for monitoring and evaluation.

The NSE was also asked to focus on a process beyond compliance and incentivise companies practicing sustainably.

The participants added: “The NSE should incorporate sustainability into its core operations and brand-lead by example Sustainability Reporting in Financial Services Industry. The NSE should provide evidence based data on sustainability and corporate performance by working with academia and research institutions. The Exchange should promote gender diversity based on skills and competence. Drive integrity of reported information by organisations and the role of assurance and adopt a report and explain approach.”

Sustainability Report At the same time last year, the NSE had released its first Sustainability Report titled, “Connecting Nigeria to the World through a Sustainable Capital Market.”

The report, the NSE said, “demonstrated its commitment to increased disclosure, expanded stakeholder engagement and thought leadership on sustainability as a key aspect of its business strategy.”

The NSE said the report, which aligns with its CSR framework, covers the four key impact areas it has devoted attention and resources.

The key areas the NSE said include: Market Place, Community, Workplace and the Environment.

“The NSE continues its journey to build a sustainable organisation through responsible and inclusive financial and investment services.

Our major achievements include: Launching the Alternative Securities Market (ASeM), a specialist board for the listing of SMEs, signing on to the Sustainable Stock Exchanges (SSE) Initiative and Launching the CGRS. Others are; forming a partnership with Global Reporting Initiative (GRI) to develop Sustainability Disclosure Guidelines in the Nigerian Capital Market and signing the UNGC Call to Action: Anti -Corruption and the Global Development Agenda “The NSE is committed to supporting local communities through planned, shared-value social and economic investments that are aimed at creating much-needed opportunity and positive change. Key progress recorded include; reaching more than 600 students from over 20 primary

and secondary schools through the Global Money Week initiative and the successfully launching the annual Corporate Challenge competition that drew more than 350 participants from over 40 companies together around the theme of cancer prevention and treatment,” the NSE said.

Others the exchange, added include, collaborating with other key financial institution to revitalise the Financial District in the Lagos State Central Business District and the launching of the inaugural Employee Giveback Month in December 2014 as a first phase to the Employee Volunteering Scheme.

Workplace and the Environment As a responsible employer, the NSE said it strives towards building a strong and consistent relationship with all our employees, built on mutual respect and dignity.

According to the exchange,“We provide a safe work environment while ensuring professional development opportunities. The following was recorded: Had an average of 96 per cent training participation over the last three years, achieved 38 per cent women in management positions, introduced an employee award scheme, the CEO Awards, to recognise outstanding performance and commenced Graduate Trainee programme to develop future leaders for the Nigerian capital market “The NSE is committed to conducting its business in a way that protects the environment. Through an environmental management approach, the exchange has been able to: Achieve a 70 per cent drop in power consumption by installing energy efficient LED lighting and computing infrastructure across the Head Office, launch the NSE Recycles campaign and conducted organisational waste audit and commenced an in-house recycling project whereby cans, glass & plastics are collected within our head office and recycled.

Onyema had while commenting on the report, said: “Sustainability is a critical component of our business strategy and publication of this inaugural report marks a significant step towards greater transparency and robust engagement with our stakeholders and the communities that we operate in.

“It is about responsible and inclusive investment services, increasing opportunity, preserving resources, improving lives, creating jobs and meeting the needs of the various stakeholders that we serve. We will continue to leverage our CSR platforms to share how, through efficient utilisation of resources, support of our committed employees and partners; we are transforming lives and communities.”

Supporting Economic Growth He added: “At the NSE, we are committed to supporting economic growth by ensuring an

efficient and sustainable capital market. This also includes our obligation to deliver a sustainable organisation through responsible financial and investment services, engaged and talented people, community contributions and environmental stewardship.

The exchange’s transformation journey has led to the diversification of its business in accordance with best practice based on global trends in responsible finance and changes in the macro environment. This process led to the establishment of a Corporate Social Responsibility unit in 2013 and the institution of our Strategy. We adopt best practice with respect to corporate governance, recognising its importance to achieving our vision.

We ensure that all our dealings with stakeholders are conducted to the highest ethical standards.

Onyema said the national council is responsible for providing oversight for the NSE’s business and financial affairs, strategy, structures and policies; monitoring the exercise of any delegated authority; and dealing with challenges and issues relating to corporate governance, corporate social responsibility and corporate ethics.

“As the NSE is a self-regulatory organisation, the Council is also responsible for ensuring that it meets all the conditions of its license as prescribed by the Securities and Exchange Commission (the apex regulator of the Nigerian capital market,, and contained in the in the Investment and Securities Act, 2007. In 2015, we plan to increase our stakeholder engagement, encourage employees to get more involved in our operating community and commence the process of phased introduction of Sustainability Disclosure in the Nigeria Capital Market. We welcome your comments and are open to suggestions that will enhance our future endeavours,” he said.

CSR Governance and Strategy “We operate in Africa’s largest economy and this unique position places significant responsibilities on us to support growth across multiple industries.

It is imperative that we provide an efficient and sustainable capital market. In order to do so, we must create long-term value for our stakeholders by embracing opportunities, whilst at the same time managing the risks that derive from economic, environmental and social change.

“In recent years we have sought to align our CSR strategy with global best practice, and in particular with the evolving expectations of sustainable and responsible finance. We have focused our strategy and the CSR governance structure that supports it on two central ambitions: To make responsible and sustainable business practices a core competence of our organisation, integrated into our daily business decisions and operations. We will also provide opportunities for our stakeholders to make positive contributions towards a sustainable future, through new and innovative investment products,” he said.

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WEDNESDAY, JUNE 22, 2016 • T H I S D AY

BUSINESSWORLD

INTERVIEW

Okoh: Outsourcing is a Viable Means of Managing Cost

Chairman, Resource Intermediaries Limited, Mr. Alex Okoh, whose firm will celebrate its 10th anniversary, spoke with journalists on the benefits of the outsourcing business model as well as challenges in the industry. Obinna Chima presents the excerpts: Can you give us an idea of what the outsourcing industry was like when you started 10 years ago and what the industry is today?

Ten years ago the outsourcing industry was essentially unstructured. It wasn’t professionalised in term of the service offering and the way that the services were offered. It was a developing industry at that time. So we thought that there was a huge opportunity in that space given the unstructured nature of the business and the opportunity that we saw in bringing the requisite level of professionalism and structure into that business. And over the years that is essentially what we have tried to do. We have tried to bring structure, order, professionalism and also in terms of the service offerings to able to tailor it to the needs of the clients in the market. So 10 years post, we have been able to move that industry forward and set the standard basically to redefine what it takes to offer professional outsourcing in that space. I think we have redefined what it takes to offer professional outsourcing service. We have become more like the icon in the industry for rendering outsourcing services. We have also tried to push the regulation agenda for how outsourcing services are rendered. Prior to now, and to some extent, you still find a bit of that playing out in the market, you just have people who really do not understand what outsourcing is. They see some opportunity to make money, they come into business and they are not able to offer the kind of services that would be to the benefit of the client and also the personnel under management that are deployed to the services. So we have tried to push some form of regulation in that business space.

Within that period of 10 years that you have been in operation, the economy has gone through a cycle of boom and bust and in recent time the economy is facing some challenges. Is outsourcing still a profitable business model considering the challenge in the economy?

I won’t use the word profitable because every business is set up to make a profit. But I think that it is extremely viable. In fact, it is even more viable now than ever before. Outsourcing, at least the way we practice it, offers a win-win proposition for our clients. And if you look at the cost structure of any business, personnel cost usually is a key component of the operating cost of most businesses. Now, when you have a downturn, typically the first sufferers in a situation like that are personnel. This is because you want to cut cost by laying off staffs because you see a downturn in the economy. But if you were subscribing to outsourcing model, that challenge will not be critical for the business organisation. This is because in the first place, the personnel would have been managed by an outsourcing partner in the first place and the critical cost that hit your bottom line would have been moved to an outsourcing vendor who helps to manage all of the personnel cost that usually becomes a challenge for businesses in a downturn environment. Now, when you look at even the personnel cost that we are talking about, there is a stated cost on the book and there is also the unstated cost that the personnel incur for the business, which is over payroll. But if you adopt an outsourcing model, all of that is left for your vendor to manage as they relate to the personnel that is under their management.

So is a more cost effective way of managing your personal input into your business. So, both in boom and bust, it helps to manage your personal cost more effectively, more efficiently.

under management are actual staff of Resource Intermediaries, enjoying all of the benefits that regular staffs would be enjoying. What is just different is that their places of redeployment where they render the services are not within the office of Resource Intermediaries. So these staffs are ours, they are employed by Resource Intermediaries, they have the term of engagement defined by Resource Intermediaries and then deployed to our clients to render those services for the client. So, they are not causal staffs, they are not contract staffs and as far as we are concern they are staffs of our company and then those staff are now deployed to the services they render to the clients.

So, is not casualisation. However, the concern you expressed is valid because that was what pervaded in the industry pre our entrance and that created a negative image for outsourcing firms. So we are not contract staffs provider, we are an outsourcing company providing services and personal to clients relative to their needs. Contract staffing means that you don’t have fixed terms of engagement, you can laid off tomorrow, you can be laid off in six weeks. So there really nothing fixed in term of engagement and benefit. Contract staffs typically don’t have a pension scheme; they don’t have a health scheme, so there are various benefits that a regular staff would enjoy in a regular engagement.

However, if RIL were to engage that service on an outsource basis, the staff that will be coming to serve you will be permanent staff of RIL enjoying the full benefits of pension, medical or whatever it is from us. However, what you pay for those services to us is fixed.

Talking about outsourcing most people see it as contract labour and that is a major issue. What is your view about that?

Outsourcing is not a contract staffing and is not casualisation, if it is practiced the way we do and in a professional sense of it. Why? That is because these staffs that are deployed to the third party clients are actually the staffs of the outsourcing partners. So, at Resource Intermediaries, the personal

But what have you done to create awareness on some of these issues you spoke about because to an average labour leader or unionist, outsourcing, contracts staffing and casualisation are the same things?

Over the years, through various programmes such as our annual outsourcing expo which is basically to get the public to be aware of what the core services and benefit of outsourcing are. In

Okoh

terms of how we also engage clients, there have been all kind of public advocacy programmes and initiatives that were have engaged in to bring the core knowledge of outsourcing to the market space. And also, when we engage our clients, we try to distinguish for them, so that they can understand the advantage and competency that we would bring to the table for them. We try to distinguish for them, the difference between outsourcing, contract staffing and casualisation, so they also do not have a problem with their unions or various groups that they have in the organisation. So, over the years, we have tried in various ways to do public advocacy and just bring the knowledge of the core professional outsourcing to the markets.

Considering the economic challenges, you said earlier that outsourcing should be a better option for firms. But an industry like banking where outsourcing is common, you still find out that some banks are laying off staffs?

I know that there are sentimental views in term of how employments are contracted. But personally I will like to give a macro view on it.

So if in aggregate terms, the company is not losing the number of the employed people, I would not see a lay-off as been negative. Let me explain that. If in aggregate terms the personnel that need to run operations of Bank A is 5,000 personnel.

However, all of the 5,000 were directly on my books initially. But for various strategic reasons, I now decide that perhaps a 1,000 of those staff are not core and in terms of direct engagement, I rather look for another model to manage how they are rendering the services in my organisation and I will put them on outsourcing model, but the outsourcing firm still provides the 1,000 staff to me. In aggregate terms, macro wise the economic has not lost jobs. Those jobs are still within the system, but it is just that in terms of how they have been defined or redefined, you may say Bank A laid off and RIL employs 1,000 people.

However, the 5,000 people are still productively engaged in the market. I think that is what is macro critical than this sentiment of i used to be in Bank A and I am now in RIL. The reality is that once the issue of operational cost hit me as a bank manager, I have to make a rational decision in terms of how best to accommodate this cost without compromising the service level.

And those decisions are being driven by the fact that I am accountable to body of shareholders who will rate my performance in term of the dividends that I have pay or the profit before tax. So, in term of how I then response, I have to be very strategic and realistic about it. So if you talk about tellers, bulk counters and other staffs that typically were on the core personnel payroll of the businesses, but are now been managed by an outsource staff, but they are still in the bank rendering those services, I really don’t see any challenges on that.

What policy recommendations do you desire from the government to enhance the industry and your operation?

I think that we need to bring some order, structure and government regulation into how outsourcing is practiced. At least to take out the charlatans and those who are taking advantage of the market. So I think that by stronger regulation by government would be helpful to this industry. So, we want to be able to set the standard for those who can practice outsourcing and perhaps push that process to lead to some licensing framework. Not everybody who knows how to keep money can be a banker, not everybody who knows how to cover risk can be an insurance company. There are processing that you will follow that will lead to some official certification and endorsement and then licensing.

I think that if you have that, that is the kind of policy that we will like to see to be brought in the outsourcing industry, so that they can monitor how it is practiced to ensure that there is serious professionalism in the industry.

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WEDNESDAY, JUNE 22, 2016 • T H I S D AY

BUSINESSWORLD

INTERVIEW

Ashaye: Nigeria Will Overcome its Economic Challenges The Country Manager, sub-Saharan Africa, Visa Incorporated, Mr. Ade Ashaye, in this interview with Obinna Chima, expressed confidence in the Nigerian economy, saying that his firm would continue to partner with stakeholders in the economy in developing solutions that would help deepen access to financial services What do you think should be done to address cases of cyber fraud in electronic payment system?

Fraud is everybody’s responsibility. We have to educate. If you got a situation where people are giving their pins or online passwords away, that is the number one problem. But the first thing we have to do is to continue educating about security and keeping your card details secure. We also need to work with the banks to ensure that the customers understand what happens if something goes wrong. They need to understand their first point of call, where they need to go and what they should expect.

So, the consumers are not scared if they see a transaction which they don’t believe was from them. So, I think education and in ensuring we have the right contacts and details to ensure that the problem is resolved are the key for us.

We are all struggling right now; we are all in a situation where Nigeria is not where it used to be, but the economy will surely overcome its challenges. Every economy goes through a cycle. We are not here for the short-term, we are here for the longterm. We are not here just for ourselves, but we are here to help everybody. We would continue to help people develop solutions that solve the problem that they want to solve and we would continue to grow together

What do you think the government and other stakeholders in the e-payment space should position themselves to tap into the huge opportunities in the epayment space?

I think we all have to increase our understanding of digital payments. We all have to understand, particularly as banks, the problems that Nigerians have and maybe America doesn’t have and see how to use the capabilities to build solutions that resolves those problems. I think the opportunities are huge. We have done work with various innovative companies locally and you will see that the capability is there in terms of the knowledge and experience, but we just need to continue working together to develop and deliver the solutions that people are looking for.

Some have said that in few years’ time, finger prints would replace pin in the e-payment transactions, do you think the country is ripe for that; and there is the argument that physical cash is no longer as important as details in the card, what is your take on that?

Our role as enablers is to enable innovations and if you got a problem that needs to be solved and a finger print solves that problem over a pin, then we need to be able to help you achieve that. For us, it is a story. We don’t have all the answers, all we do is to have a platform that shows that the developers and people are trying to solve a problem and we work hand-in-hand with our partners to create a solution that really solves the problem. Also, in terms of the argument that the physical cash is no longer as important as the card details, that is because we have moved into digital payments. e-Commerce transactions are growing up to three times the rate of face-to-face transactions and you don’t need physical cash for e-Commerce transactions.

Mobile transactions are growing even faster than the rate of e-Commerce transactions and you don’t need physical cash. So, it is not that the physical cash are not important; it is the data that is important.

Are there new technologies that Visa is bringing to the market?

I think you will see over the next couple of months, there would some new items. I talked about contactless payment. Today, we have given our Olympic ambassadors rings and those rings replaced the need for a card.

With that, you can initiate contactless payment.

I have my eyes on the mobile banking space.

What is Visa doing to support the drive to increase the number of Nigerians that have access to financial services?

It is really interesting how Nigeria and Africa generally, defers from some of the more

Ashaye

developed markets. More than 65 per cent of our retail purchases are made here, even in the open market. And the economics of having a point of sale (PoS) in the open market is very different from having it in a shopping mall. That means the solutions need to be different. That was what I spoke about when I said we need to work with local partners to develop solutions that make sense locally. So, for the unbanked population, the solution is to develop solutions to address the needs in such an area. So, if our problem is that a large proportion of our consumers are in the rural area, we would look at how they connect, the solutions and the opportunities. We also need to work with the providers to ensure that the solutions they need are being developed.

Nigeria is currently having challenges as regards scarcity of forex, is that in any way affecting your business in the country?

I think what happened was that we have seen a number of banks place some restrictions, like some say you can use your naira cards locally, but you can’t use them abroad. So, that is changing the way people are able to pay.

It is impacting everybody, most especially our

banks. But the cards still work locally and we are seeing growth in domestic transactions.

People are getting used to the idea of using their cards to make payments locally. We are all struggling right now; we are all in a situation where Nigeria is not where it used to be, but the economy will surely overcome its challenges.

Every economy goes through a cycle. We are not here for the short-term, we are here for the long-term. We are not here just for ourselves, but we are here to help everybody. We would continue to help people develop solutions that solve the problem that they want to solve and we would continue to grow together.

What is your assessment of the recently introduced Bank Verification Number (BVN) scheme?

Honestly I believe that the banks talk about the benefits and the fact that you can identify these individuals across multiple banks as individual bank. But I think we are yet to see the real full benefits. What is the ability for lend to an individual when he has a better understanding of that individual’s exposure across the banking industry? So, the ability to lend is going to drive greater volume of transactions. So, these are some of the types of benefits I am really looking forward to seeing.

What is your firm’s commitment to financial literacy?

Visa believes the most important financial tool is knowledge. That is why for over a decade Visa has been developing financial literacy programs that teach individuals how to spend, save and budget responsibly. Supporting financial literacy is both good for our business and the right thing to do. Visa’s global financial literacy initiative is localised across more than 30 countries and in 2009, Visa pledged to reach 20 million people through financial literacy education by 2013-a goal surpassed one year ahead of schedule in May 2012. We’re now approaching 30 million people that have been reached by our by our financial literacy initiative. As a global payment technology company, we see one of the most valuable contributions we can make as helping to bring more people into the formal financial system. We do so by creating pathways to financial inclusion for the financially underserved through our products, services, technology, and payments expertise; financial literacy tools and resources; and our strategic partnerships. We believe access to financial services is essential for progress. Financial inclusion moves people from being underserved and isolated members of our economic system to thriving and contributing participants. Improving access to financial services and electronic payments is a critical building block to help more people improve their lives and lift themselves out of poverty.

Given the appetite to increase financial service penetration coupled with the government and CBN focus on supporting the advancement of financial inclusion, Nigeria has been identified as a key strategic country for many private sector companies and organisations that are committed to advancing financial inclusion.

WEDNESDAY, JUNE 22, 2016 • T H I S D AY

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As Insurers, PFAs Contend with the Economic Downturn The current economic climate is plaguing the operations of insurers and the pension sub-sector, writes EbereNwoji The prevailing downturn in Nigeria’s economy, occasioned by not only the slide in crude oil prices in the international market and the shortfall in crude production due to attacks on oilfacilities in oil producing areas has not only taken its toll on the pension and insurance sub-sectors, but the various sectors of the economy.

The pension sub-sector, appears to have received a bigger shock from thedevelopment, as it has compelled many employers of labour, to resort to job cuts as a survival strategy.

With job cuts, the pension sub sector, is under severe pressure of demands from contributors and less contributions and remittances from sacked employees and employers, who have relieved their employees of their jobs, a situation, which is currently affecting their reserve and investment activities.

Apparently, since the federal government began to implement someof the economic measures it had put in place to avert corruption, reduce spending and retain more money in the nation’s treasury, operators of various sectors of the economy are not finding things easy.

They have adopted measures, aimed at lifting their heads above the waters in business.

In the service industry, especially the banking sector, the Treasury Single Account (TSA) policy of the federal government, has begun to affect banks,prompting many even the big operators to resort to downsizing.

This is despite recent threats by thelabour unions, to picket such banks and federal government’s threat, to withdraw the operating licenses of such banks.

For instance, recently, First Bank of Nigeria threatened to lay off as many as 1000 employees.

Other banks also followed suit as a result of shrink in their income and profit.

The manufacturing sector, is not standing on safer ground as epileptic power supply, witnessed in the country, high cost of raw materials as a result of exchange rate of Naira to a dollar and low purchasing power of the masses have reduced their capacityutilisation thereby compelling many of them to reduce their work force.

As banks and these other sectors, throw back their work force to labourmarket, contributions of these unfortunate employees to their RSA, have automatically stopped while many of them fall back on their contributed funds managed by their pension fund managers(PFA).

The Pension Reform Act ( PRA) 2004,amended in 2014,which established the Contributory Pension Scheme (CPS), allows an employee, who is relieved of his job before the retirement age, to demand for 25 percent of what he has contributed.

What this means, is that many PFAs and Pension Fund Custodians ( PFCs),will henceforth, witness continuous demands from their contributors who were victims of the development, just as they willexperience drastic reduction in the number of contributors.

Narrating his company and other PFA’s experiences in the face of the problem, Managing Director, FUG Pensions,Suleiman Usman, said closure of many businesses and laying off of their staff, have seriously affected PFAs in two ways.

According to him, one is the drop in the rate of employment, which automatically affected his company’s business in terms of the new accounts and enrolment.

Secondly, he said it affected his company in terms of having to service employees who are now out of jobs and will have to sustain themselves.

“The law has provided that in the event of the loss of job and inability to get another job for a period of four months and above, he can apply to access 25 per cent of the balance in his account. Now this is an amount that would have been in the account to be invested and growing, but because of his being laidoff job, the owner of the account can come to withdraw 25 per cent for consumption, meaning that only

Wiggle

75 per cent will remain to be invested. Besides, no new employee is coming into the system until that retrenched employee gets another job and starts contribution again,” he explained.

According to him, if the employee, fails to get another job up till 50 years of his age, he will come back as a retiree to fully access that account as lump sum as pension, which normally he would not have done depending on the balance in the RSA. In conclusion, Usman said the aboveare two fronts which his company’s business is affected by the situation.

“It is a reality on ground, but we anticipate that as these companies commence investing again, the laid off workers will be called back to work, he said.

On the effects of non remittances of contributed funds to the pension sub sector by some employers, Suleiman,said pension fund managers, cannot say remittances are not coming in.

According to him, remittances are coming as long as companies continue to exist, even those companies that have downgraded their operations and laid-off their workers.

According to him, for workers who continue on employment, they continue to remit. He however said it is in the public sector that non remittance practice is prevalent because a number of states that have keyed into the system, also in recent times are facing difficulties paying salaries and have defaulted in remitting pension.

He however, noted that there are states that have not paid salaries for several months, but surprisingly they pay pension deductions up to date.

He however, said some states are finding it

difficult to remit.

He said at the federal level, government has made efforts to get funding for remittance, but that there are still outstanding arrears of several months as the last remittance was probably made in September 2015.

He however, said PenCom, is making efforts to get the arrears paid and that Pension Fund Managers, are expecting the reduction of the arrears very soon.

Experts in pension fund management,have said that the managers, will keep fit with exploration of opportunities in micro pensions, which the National Pension Commission, has been crusading for.

This, will pave room for the self employed and other operators of small businesses to key into the scheme.

The experts, said there is need for pension fund managers to move in to create awareness for small business owners, on the existing opportunities in the sector.

A critical look at the operations of the PFAs and PFCs, shows that since the advent of the Contributory Pension Scheme, the fund managers, have been enjoying the compulsory nature of the scheme, which guarantees free and smooth flow of funds into their account with little or no stress.

They have therefore, not thought of how to engage in aggressive marketing to get more contributors into the pension net. But as the need for this is starring on their faces now, each of the pension fund managers will have to put on his thinking cap on how to get his own fair share of the retail or micro pension market. They may need to engage the services of marketing agents, to achieve success.

Similarly, the insurance industry is another sector that is at the receiving end of the present doldrums state of the economy. Before now, insurance product is always the last item in the consumers’ scale of preference. With the current economic challenge facing both the poor and the rich in the country, operators are certainly witnessing unspeakable business lull.

Recent sales analysis, conducted by one of the petroleum product marketers in the country, said that as important as fuel is to Nigerians’ daily living, since the increase in the price of fuel from N86.00 to the current price of N145.00, sales of the product, has dropped by about 34 percent .

This goes to show the extent to which the present economic situation in the country has reduced the purchasing power of the people.

Insurance, being the last item to be considered in the consumers’ preference list, is much more affected by the situation.

Recent checks by THISDAY, shows that some insurance firms currently find it difficult to pay staff salaries just as some have resorted to various cost saving methods.

The situation, has also reduced Social Responsibility activities of many operating firms, while others, have toed diversification routes.

The prevailing situation, has also combined with the demands of the newly introduced regulatory model, the Solvency 2 and Risk base supervisory models, to reduce their payment of returns on investments, as many operating firms, are now busy building stronger reserves that will enable them cope with the new regime.

Apparently, Nigerians’ apathy to insurance, Continued on page 31

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AS INSURERS, PFAS CONTEND WITH THE ECONOMIC DOWNTURN even before the economic down turn, has been responsible for minimal contribution of the industry to the Gross Domestic Product (GDP) of the economy.

Insurance contribution to the GDP is less than one percent.With the present situation, there is fear that the contribution may have dropped further as Nigerians, find it difficult to access money to solve their basic needs, let alone having enough to spend on insurance which many of them regard as luxury.

But out going chairman of Nigeria Insurers Association( NIA) Mr Godwin Wiggle, said the biggest challenge of operators in the face of the present situation is enforcement of compulsory insurances nationwide,activities of fake insurance operators and Nigerians’ penchant for short cuts in purchasing their insurance policies instead of going through the right channels.

But despite the situation, government,still has hope of both insurance and pension sectors contributing their quotatowards addressing the present economic problems in the country.

Recently, the minister of finance, KemiAdeosun said there is a strong link between insurance market development and economic development, adding that the commonly used index of measuring the development of insurance in an economy is market penetration which is the ratio of total insurance premiums to the Gross Domestic Product.

She sadly noted that insurance contributes less than one per cent to the GDP of the country and that to change the ugly situation, the government is committed to identifying the challenges and taking steps to address the current poor performance of insurance in the country.

“It is on this premise that in February, earlier this year, I inaugurated the Consolidated Insurance Bill ReviewCommittee in a move that seeks to make the bill conform to the ideals of contemporary insurance practice as well

DG, PENCOM, Chinelo Anohu-Amazu

as facilitate public awareness and consumer protection.

“We are optimistic that the work on the bill and its eventual passage to law would positively change the face of insurance regulation and practice in our country, Nigeria,” she said.

Adeosun called on the Nigerian Insurance Industry operators to fully cooperate with the

committee set up to review the industry’s bill, so as to come up with a draft that would be the impetus for rapid growth not only for their sector but the Nation and in particular all consumers of insurance services alike.

Also at the recent chief executive officers’ forum, organised by the Nigerian Council of Registered Insurance Brokers(NCRIB),in Osun

State, the state governor, Ogbeni RaufAregbesola, noted that Nigeria is going through a tough economic situation and called on the members and leadership of (NCRIB),to come to the aid of the nation especially in rescuing over 27 states of the federation, who are presently facing challenges in the payment of salary arrears.

He said: “Unknown to many is the fact that insurance, more than banking, actually drives the economy. When businesses are insured, it gives entrepreneurs the liberty to take informed risks, knowing that their backs are covered.

“Risk taking is critical to capitalism and the confidence that the business is insured, for most part, is the motive force of capitalism.

“However, beyond providing cover, the due diligence report and other expert report required by insurance firms ensure that actual risks are minimised.

“Insurance companies also help the economy with the provision of long term funds, which are mostly invested in realestates and industrialisation”, he stated.

The Governor, charged the council, to go back to the drawing board, and come up with sustainable policies that would support the revival of the nation’s economy.

On his part, the commissioner for insurance, Alhaji Mohammed Kari, said he has drawn out plans on how to reposition the industry.

According to him, not only that he would consolidate on growth plan of his predecessors especially promotion and implementation of the market Development and Restructuring principle, he will also give priority attention to publicising insurance to make more Nigerians patronise the industry.

He also said he would promote micro insurance scheme across the country to make every Nigerian be in position topatronise insurance products.

WEDNESDAY, JUNE 22, 2016 • T H I S D AY

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20 Insurance Firms Subscribe to EAIPN As operators Count Gains Storiews by Ebere Nwoji Barely two years after the formation of the Insurance industry’s Energy and Allied Insurance Pool (EAIPN), 20 insurance firms have subscribed to it, just as insurance industry operators said they have started reaping bountifully from the pool.

Before now, 14 insurance firms subscribed to it until recently when six more firms toed their line.

At a farewell press briefing organised by the Nigeria

Insurers Assocation ( NIA), on behalf of its outgoing chairman, Godwin Wiggle, he said that the EAIPN has witnessed increase in the number of subscribers from 14 to 20 companies.

Wiggle during whose tenure the pool was formed and its technical committee inaugurated, said to ensure high performance and leverage on international experience, members of the pool have appointed African Re as manager to the pool.

He said formation of the

pool has enabled operators to build technical and financial capacities as well as retain businesses that would have been taken outside the shores of Nigeria.

The Group Managing Director of Continental Reinsurance Plc, Dr. Femi Oyetunji told THISDAY recently that the Energy and Allied Insurance pool has been beneficial to Nigerian insurers.

He said but for the pool, oil multinationals operating in Nigeria, would have preferred to take their businesses to

their captives in their home countries.

He also said without the pool, most of the energy businesses Nigerians bided to underwrite would have gone to European and American insurance firms most of who have Tripple ‘A’ rating.

The National Insurance Commission (NAICOM), towards the end of 2014 formed the EAIPN with a view to ensuring that more indigenous firms participate in insurance of oil and gas business in the country.

The businesses have for several years been taken abroad by the oil multinationals mainly for lack of technical and financial capacities by the indigenous firms.

But NAICOM, formed the Energy and Allied insurance committee to bridge the gap.

It also inaugurated a 14 man technical committee to oversee its function.

Insurance managers had expressed optimism that formation of the pool would boost their capacity and increase their participation

in the insurance of the juicy oil and gas business.

Wiggle had in a telephone interview told THISDAY that the new board would ensure that indigenous underwriters henceforth handle more of the Nigerian oil and gas businesses that were hitherto taken abroad.

He said insurance being business of risk spread, the pool would organise indigenous underwriters in a way that will boost their capacity to handle the available energy businesses before taking any abroad.

NEM Insurance Announces 6kobo Dividend for Shareholders NEM Insurance plc, at its 46th annual general meeting held in Lagos recently, announced a dividend of 6 kobo per share, for its shareholders for the year ended December 31, 2015.

With this, the company, paid a total of N3.96billion to its shareholders for the year under review, representing an increase of 34.6 percent over a total dividend of N 2.9 billion it paid in the preceding period.

Announcing this to shareholders at the meeting, NEM Insurance chairman, Chief Adewale Teluwo, said the company paid the above higher dividend, despite that its performance in the year under review was not better than the previous year.

According to him, notwithstanding the state of the country’s economy, NEM insurance, recorded good performance with Gross Premium increase of 10.8percent over the previous period.

Teluwo, said NEM Insurance, recorded gross premium of N10.9billion in 2015, while that of 2014 was N9.8billion.

According to him, the parent company, achieved an increase of 9.5percent over the preceding period, thus posting N10.3billion premium for 2015 against 2014 figure of N9.4billion.

Commenting on other results in the company’s balance sheet, the NEM Insurance boss, said, “Even though rates crashed to an average of 4 percent, per annum, the Group, generated an Investment Income of N746.2 million during the year under review, while that of the preceding period was N607.8 million; an increase of 22.8 percent.”

He said the income, recorded by the parent company, also shot up by 20.7 percent over that of the year 2014, meaning that the company in this regard, generated N676.4 million in 2015 and N560.4 million in 2014.

On claims paid by the company for the period, he said it increased significantly compared to the amount paid during the same period in 2014.

“Claims paid by the Group during the reporting year, was N3.96billion, an increase of

34.6 percent over that of the preceding period which was N2.9 billion”.

He explained reason for the increased claims figure, saying it was as a result of one single huge claim of about N600million paid out by the parent company, adding that this caused the company to witness 33.1 percent increase in its claims payment.

“It was recorded over that of the previous period by the Parent Company. The figure for 2015 was N3.8billion whereas that of 2014 was N2.9billion”, he said. According to the NEM Insurance boss, the above scenario, had a significant impact on the company’s bottom line, adding that the profit before tax recorded by the group for the reporting year, declined by 66.1 percent over the preceding period, while that of the Parent company, declined by 67.9percent.

He said aside the claims issue, increase in outstanding claims reserve for the period also led to the decline in the profit of the group but expressed hope that the reserve would boost the profit for the next reporting period.According to the chairman, NEM Group Financial Assets for the reporting period, increased by 16.8 percent over that of the previous period.

He explained that this was one of the reasons for the increased investment income, adding that the parent company recorded an increase of 16.5 percent on this item.

“The Group Total Assets and Total Equity increased by 11.5 percent and 5.7percent respectively; while those of the Parent Company increased by 10.1 percent and 5.2 percent respectively.

“Earnings per share for the year was 14 kobo; a decrease of 51.7 percent from that of the preceding year which was 29 kobo.Teluwo, said NEM Insurance, implemented the National Insurance Commission’s (NAICOM) code of corporate governance of 2008, which requires that the tenor of non-executive directors of insurance companies, should not exceed nine years.”

BRAINSTORMING ON THE ECONOMY

L-R: First Vice President, Chartered Institute of Bankers of Nigeria (CIBN), Dr. Uche Olowu; Senior Anchor, BTVA Newsroom, Mr. Tunji Andrews; Registrar, CIBN, Mr. Seye Awojobi; Senior Adviser to Kogi State Governor on SDG, Mr. Abdulmumuni Okara; Executive Director, LEAP Africa, Mrs. Iyadunni Olabode; CIBN President, Prof. Segun Ajibola; a former Minister of Health, Prof. Eyitayo Lambo; and DG, Forestry Research Institute of Nigeria, Dr. Adesola Adepoju, at the CIBN annual lecture held in Lagos…recently

Enforcement of Compulsory Insurances is Biggest Challenge to Insurers, Says NIA Chair Outgoing Chairman of Nigeria Insurers Association( NIA), Mr. Godwin Wiggle, has said that the greatest challenge to insurance industry operators has remained enforcement of compulsory insurances.

Wiggle, who stated this during his farewell press briefing at the NIA secretariat in Lagos, said recent report on 12million vehicles plying Nigerian roads with fake insurance certificates is an indication of how much the industry loses to the fake operators as well as how much revenue government at all levels lose to them.

He expressed the regret that one of the things that makes fake insurance operators to thrive in their business is because Nigerians like short cut in doing things, adding that those who patronise them are Nigerians who don’t want to follow the right channel in doing things.

He urged Nigerians to ensure that they get their insurance services through the right channels because the fake operators will have nothing to offer to them in the event of claims.

He also urged government to play its role in this regard, adding that although the insurers are doing their best in pushing the compulsory insurances like the third Party Motor Insurance, which to Nigerians, which they do through Nigeria Insurance Industry Data base (NIID), government, has a big role to play in enforcement of other compulsory insurances like the compulsory builders insurance.

Wiggle, said more Nigerians now make efforts to buy the third Party Motor Insurance from genuine operators because the Road Safety officials are enforcing it

in different states with heavy fines on defaulters.

He said if a number of state governments industry operators have approached for enforcement of builders insurance will take responsibility of enforcing it for security of lives and properties in their states, more Nigerians would patronise the policy.

He said this has become necessary because Nigerians like to be put under compulsion before they can obey laws.

The problem of fake insurance operation in Nigeria is as old as insurance business itself. The development is causing the industry a large chunk of its premium especially from Third Party motor insurance business, as recent survey by the insurers, reveals that about 12 million vehicles are plying Nigerian roads with fake insurance certificates.

This prompted the NIA to come up with the NIID initiative.

The NIID is said to be the only central record of all insured vehicles in Nigeria.

Until its launch in 2011, it was a lengthy process for vehicle owners and law enforcement agents to verify the authenticity of policies.

To date, the platform has captured over 3million vehicles. This is a far cry from over 14million vehicles plying Nigerian roads, exposing the massive level of fraud in insurance policy issuance since most car owners do not know they have fake papers.

A survey carried out by the Chartered Insurance Institute of Nigeria (CIIN) revealed that in 2014 only N12 billion was generated from third party motor insurance policies against N70 billion expected.

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Yudala Online-Offline E-commerce Model Goes Global Ken Ugbechie There is a cold cross-border war out there in the global e-commerce bourse. Two giants, Alibaba of China and Amazon of the United States are locked in a contest for the soul of the world’s e-commerce projected to hit $28.3 trillion by 2018. So, how does this connect to Nigeria and Africa? Much, in many ways! Africa’s foremost truly composite ecommerce outpost, Yudala, launched barely a year ago, precisely last August, seems to have provided a rare business model which now drives both Amazon and Alibaba in their quest for market dominance.

Yudala was birthed as the first true composite retail platform in Africa. What the continent has seen prior to its entry was at best a window-dressing of what modern, competitive e-commerce retailing should be. It is the first to combine a world class e-commerce platform with an offline chain of retail stores. This innovative model immediately set it apart from competition.

Founder of Nigeria’s Yudala, Mr. Nnamdi Ekeh, remembers how it all began as a mere idea. “I was about 19 then and was still in school when the idea of Yudala came. I kept it in my head and was mentally nurturing it and even at that time I could see the limitless possibilities of e-commerce and on-line retailing.

“Yudala was a vision which I began nursing in my penultimate year in the University of Lancaster. I was quite familiar with the pioneering moves my father had made in e-commerce with Buyright Africa which was an idea ahead of its time as there was a glaring human capital deficiency at the time. I had always considered the need to expand access to the unreached, so to say; the millions in the hinterlands and without ready access to the internet to enable them take advantage of e-commerce. I was also motivated by the need to innovate and offer the consumer more options, hence the Yudala composite retail revolution which fuses a real-time e-commerce platform with mega Experience Stores located in major cities”, he said.

In a matter of months, Yudala has transformed from the vision of a teenager to a national movement and the preferred channel for shoppers with eyes for quality, real time delivery and after-sale support.

Yudala started with ICT products, it has since diversified into a one-stop online and offline retail outpost.

When young Ekeh conceived the strategy of real-time delivery and take-it-to-theconsumer concept as the unique selling point of the Yudala brand, little did he know that this model (online-offline) would turn out to be the catalyst that would drive global e-commerce. Yudala’s model of being a true composite e-commerce “everything store” has driven it to phenomenal growth.

To achieve this, the company has made huge investments in capacity-building, payment systems, matchless customer care service, logistics and pervasive point-ofpresence (Experience Stores), which is at the core of its ability to achieve on-the-minute delivery of any order, making it the ideal next-door-shop. Leveraging on its logistics success, it has forayed beyond electronics into consumables, households and life style goods.

Yudala combines B2C (Business-to-Consumer) and C2C (Consumer-to-Consumer) models through its trademark Mobile Monday and Neighbour to Neighbour campaigns. These market-deepening strategies are now being deployed by Alibaba and Amazon to cut deep into the global e-commerce markets.

Alibaba is a Chinese company but it is doing mega business in the United States. It is adopting the principle of increasing pointof-presence in America neighbourhoods much the same way Yudala is planting outlets across Nigeria, a fusion of online and offline. This gives Yudala the head-start to serve the under-served rural communities with limited or no access to internet. With 15 Experience Stores nationwide, Yudala’s offline-online model of e-commerce has

Nnamdi Ekeh

attracted investors from Europe and this has given Yudala more impetus to push for market share expansion. The company is set to add three Experience Stores before year end and if all goes well, it will make foray into the sub-region with Ghana as next destination and an ambitious target of 60 Experience Stores in the next two years.

Ekeh sees Yudala’s new push as the tipping point for e-commerce in Nigeria and a vision that fits into the Change mantra of the Federal Government of Nigeria to create jobs.

“We are looking to keep creating jobs for young Nigerians; not just any job but jobs that would ultimately turn them into global citizens and creators of wealth. We are working hard at making ICT products pervasive and affordable to more Nigerians including students. We believe that the strength of the youths of any nation lies in their ability to innovate and one way to encourage innovation is to introduce the young minds to ICT early in life.

“But beyond this, we are humbled by the fact the offline-online model we initiated in Nigeria has become the trending global model for major players in e-commerce. It is a model we believe would bridge all the gaps that have limited e-commerce in recent years by connecting business to consumers in a more direct manner”, he said.

In its latest comparison of both Amazon and Alibaba, AdvisoryHQ, the world’s fastest growing financial review and ranking portal said: “In terms of performance, it is important to remember the differences between the platforms offered by Alibaba vs Amazon. In the last fiscal year, Alibaba had revenues of $14.4 billion, with profits of $10.5 billion. After opening with the biggest IPO in history, the market capitalization of Alibaba currently stands at $193 billion.

“While still less than Amazon, Alibaba employs 35,000 workers and is looking to expand dramatically into the global market.

But the stock performance has dragged, with a five per cent drop in the past calendar year”.

The financial review also compares the net-worth and style ofthe men in charge of Alibaba as against the men in charge of Amazon? “Alibaba founder and chairman Jack Ma has a current estimated wealth of $33 billion, making him the richest man in Asia. As a significant portion of his wealth, Ma currently owns approximately 6.3 per cent of total Alibaba shares.

“Amazon’s financials are very different.

With a $329 billion market capitalisation and $113.4 billion revenue, one might think that Amazon ecommerce dwarfs Alibaba. So where’s the competition? Well, despite the gap in revenue over Alibaba, the Amazon empire only turned a profit of $1.2 billion, which is only about a tenth of what Alibaba does on much lower revenue”.

In essence Alibaba runs lean and mean and focuses on profitability. On the other hand, Amazon ecommerce has never focused on profitability, instead it attempts to snap up market share and provide the best possible experience for customers, even if it means a loss in potential profit.

“Amazon founder Jeff Bezos and his 231,000 Amazon employees are playing the long game. As Amazon reviews this strategy, it is obvious that it has paid off in recent months. Amazon stock is up 59 per cent in the past year, a huge increase, especially when compared to Alibaba’s decrease.

This increase in Amazon’s stock price has rocketed Bezos into 5th place on the list of the richest people in the world.

Bezos’s fortune is estimated at over $60 billion, placing him behind only Bill Gates, Amancio Ortega, Warren Buffett, and Carlos Slim.

At the moment both Amazon and Alibaba are in a hot contest for India and China markets. Alibaba is currently the world’s most profitable web marketplace. To compete favourably with Amazon, Alibaba recently announced it will pay $4.6 billion for a 20% stake in Suning Commerce Group of China, which operates more than 1,600 electronics stores in China. Best Buy runs close to 1,800 worldwide.

The move by China’s biggest—and the world’s most profitable—web marketplace signals the necessity of having immediate delivery options in place for even large, unwieldy merchandise. According to a press release announcing the deal, Suning will provide that capability to Alibaba’s third-party sellers via eight national and 57 regional distribution centres covering 90 per cent of China. It operates some 1,700 last-mile delivery stations.

“This new alliance brings forth a new commerce model that fully integrates online and offline,” said Alibaba Executive Chairman Jack Ma in a statement.

“This collaboration signals a new trend in the Internet age: Strengthening China’s traditional industries by leveraging the power of Internet,” stressed Suning Chairman Zhang Jindong.

Whereas Ma calls the online-offline model a new strategy, it has been in existence in Nigeria courtesy of Yudala, and propounded by a Nigerian teenager.

Online retail offers simplicity and makes it possible for consumers to shop on the go but it takes away the traditional see-feeland-touch option which offline gives to consumers. In spite of the glut and clutter of gadgets and the very fact that you can order it and receive it from one spot, many people still prefer actual visit to the stores to shop offline. Alibaba is furiously deploying the combination of these two channels (online and offline) to give Amazon a run for its size and turnover in India and China markets, the two over one billion marketplaces in the world.

It is in view of this that analysts see Yudala dominating the Africa e-commerce market in the coming years using the composite online-offline marketing model.

On whether Yudala would be listing at the stock exchange Ekeh said “we will do so when the time is right”.

•Ugbechie is Publisher of Political Economist Magazine/ Executive Secretary, Africa Telecom Development Initiative

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WEDNESDAY, JUNE 22, 2016 • T H I S D AY

BUSINESSWORLD

NEWS

Elumelu, Rewane Hail Dangote’s Contribution to Capital Market Growth Goddy Egene Chairman, Heirs Holdings, Mr. Tony Elumelu and the Chief Executive of Financial Derivatives Company Limited, Mr. Bismark Rewane have commended the President of Dangote Group, Aliko Dangote for his contributions to the growth of the Nigerian stock market.

They both gave the com-

mendation at a two-day stakeholders’ forum on realising the full potential of the Nigerian economy through proactive capital market legislation in Abuja.

Elumelu, who is also the Chairman of United Bank for Africa Plc, said Dangote Cement, Dangote Sugar Refinery Plc, NASCON Allied Industries Plc and Dangote Flour Mills, all members of

Dangote Group, have helped to deepen the market and the Nigerian economy.

Dangote Cement controls a third of the market capitalisation of the Nigeria Stock Exchange (NSE). Elumelu said Elemule, who presented a keynote paper titled: “Deepening the capital market to include privatised and systematically important entities,” said the private sector

has the most capital to drive the country’s economy, saying that only few state-owned privatized enterprises were so far listed on the stock market.

He said the government must focus on providing the enabling environment for businesses to thrive.

Speaking in the same vein, Rewane, said if the Dangote Cement were to be discounted from the Nigerian stock market,

the market would have been in trouble.

Rewane, who presented a paper titled: The Nigerian Capital Market: ‘Becoming Africa’s Most Modern, Efficient and Internationally Competitive by 2025,’ noted that there was the need to ask questions about what went wrong despite all the economic measures put in place by successive governments.

In his paper titled: ‘Demutualising the NSE,” its chief executive, Mr. Oscar Onyema said the demutualisation of the exchange will be favourable to all stakeholders.

He said: “Demutualisation will support the economy in its ability to withstand domestic and international economic shocks, it will also support the Federal Government in driving Nigeria’s economy.”

CIS Endorses CBN’s Floating Exchange Rate Policy Eromosele Abiosun The Chartered Institute of Stockbrokers (CIS) has applauded the Central Bank of Nigeria (CBN) for the re-introduction and re-modelling of the floating single foreign exchange policy.

The CIS in a statement, described the move as a bold and positive initiative, “which attest to the dynamism of the apex bank in policy evolution for the greater benefit of the economy.”

According to the CIS, “The operating dynamics of the new framework as stipulated by CBN is in accordance with the tenets of democratic capitalism of which the highlights are, market-driven systems, free participation within individual limitations and the ‘’invisible hand”. The introduction of a forward market to hedge volatility in the foreign exchange market, and the licensing of foreign exchange primary dealers are well commended innovations, which we believe will deepen the market.

“Barring systemic malfunction, CIS believes that the implementation of the new framework will boost dollar supply; and with clarity, define the exact exchange rate, ease

the challenges of businesses across the board and return the economy to the path of growth.

The currency peg of the past 16 months resulted in a dearth of dollar currency and prompted large scale capital flight with the attendant growth challenges in the economy. Foreign inflows into the capital market dropped by 32 per cent in 2015, as reported by the Nigerian Stock Exchange (NSE), while the benchmark equity index fell by 17 per cent this year.”

The CIS added that the new foreign exchange policy will bolster investor confidence, trigger inflow of foreign portfolio investments and boost the velocity of the stock market.“CIS supports the continual restriction of the 41 excluded items from the interbank foreign exchange market. The exclusion of the items supports the infant industry argument. CIS believes that an admixture strategy of the floating foreign exchange policy, an intensive export promotion drive, support for the infant industry argument and pump priming will give fillip to the economy. Going forward, we are optimistic on the growth prospects of the economy in 2017, “it stated.

SON Raids Building Materials Market in Minna Laleye Dipo in Minna The Standards Organisation of Nigeria (SON) conducted a raid on building materials markets in Minna, the Niger state capital with the aim of confiscating fake and substandard building materials.

The raid was part of the step being taken by the organisation to check the incidents of collapsed buildings in the country.

Niger state however has not recorded any collapsed building in recent years.

The exercise took the SON officials to major building materials market in the old industrial layout and the outlets at Sabon-gari road all in the state capital.

During the operations, some materials were seized which the officials said would be taken to the laboratories to ascertain their quality before any pronouncement could be

made.

The state coordinator of the organisation, Mr. Olufadi Adamu, who led the surveillance team said the team also took samples of iron rods in the markets to ascertain their qualities and get rid of sub-standard ones. This was to ensure that the iron rods used for construction of buildings in the state are of high quality.

“The samples collected will be taken to Enugu for further chemical analysis and if tested sub-standard the defaulting companies will have their license revoked”, he said.

Adamu stated that before the results of the chemical analysis were received from Enugu, the organisation would make the marketers to ‘enter into agreement not to sell any of the product until it was confirmed they are of high quality’

BUSINESS VISIT

R-L: Executive Director, Asset Management Corporation of Nigeria (AMCON), Mr. Aminu Ismail; Chief Executive Officer, Zimbabwe Asset Management Corporation (ZAMCO), Dr. Cosmas Kanhai and Executive Director, AMCON, Mr. Kola Ayeye, when a team from ZAMCO paid a business visit to AMCON in Lagos …recently

Irish Govt Donates Palm Oil Mill,Vocational Equipment to Enugu Community Christopher Isiguzo in Enugu As part of efforts to boost palm oil production and get the youths meaningful engaged, the Embassy of the Republic of Ireland in Nigeria has donated a well-equipped Vocational Training Centre and a Palm Oil Mill to the youths of Ugbaike community in Igboeze North local government area of Enugu state.

While the vocational training centre was equipped with sewing machines and hair dressing machines worth millions of naira, the oil mill was equipped with palm oil extracting machines.

The projects were facilitated by the Christian Broadcasting Network (CBN) Africa and funded by the Irish Embassy in Nigeria.In his speech at the handing over ceremony of the projects to the community, the Irish Ambassador to Nigeria, Mr. Sean Hoy said the embassy, which he said was established in Nigeria in 1960, was delighted to support projects that add value to the lives of people living in the communities in Nigeria.

The Irish Ambassador, who

was represented by the Charge D’Affairs at the embassy, Mr. Eoghan McSwiney, stated that his country had embarked on similar projects in many states in Nigeria.

“We have been in Nigeria since 1960, the Embassy, and we have a long partnership and trust relationships with the country. We are also an agricultural country. So when CBN Africa came with this project to help people to empower themselves in this community in the Northern part of Enugu state, in the agricultural field particularly in palm oil and also in sewing, we were very happy to be able to provide a small sum of money to support the project and to help this community to empower themselves.

“Also the women in the community who will be learning to make garments and hairdressing, will also be in a position to provide livelihood for themselves and for their family.

So we thought it was a very worthwhile project and therefore useful partnership project we are doing with CBN Africa and also with the local community who have been very supportive of the initiative.”

Sustainable Land Management in Africa Increases Agricultural Production Crusoe Osagie with agency report Improved land management strategies and technologies being used across sub-Saharan Africa are helping protect the environment, boost agricultural productivity, strengthen livelihoods and enhance food security, according to a new study.

The document - published by the New Partnership for Africa’s Development (NEPAD) and its TerrAfrica partners, including FAO, takes stock of lessons learned during the five-year TerrAfrica Strategic Investment Program (SIP) for sustainable land management.

TerrAfrica is an African-driven global partnership program to scale up sustainable land and water management across subSaharan Africa. Its SIP initiative - which ran from 2010 through 2015 - provided $150 million of land degradation funding from the Global Environment Facility (GEF) and attracted co-financing of $800 million to support 36 projects in 26 countries. Working across a diverse range of farming systems, SIP support focused on scaling-up proven practices, strengthening advisory

services, and improving policy frameworks and knowledge management. It resulted in sustainable land management practices being implemented on 2.7 million hectares, benefitting some 4.8 million people.

Implementing agencies included the African Development Bank, FAO, the International Fund for Agricultural Development (IFAD), the United Nations Development Programme (UNDP), the United Nations Environment Program (UNEP) and the World Bank, in close coordination with NEPAD and regional economic commissions. Projects were executed in partnership with governments and in collaboration with many development partners including civil society organisations.

The report aims to highlight key issues and provide guidance for future programmes and investments in sustainable land and ecosystem management on the continent. Those lessons are already encouraging governments, partner agencies, NEPAD, the Africa Union and the donor community to scale-up sustainable land management practices across wider landscapes in view of the many productivity, livelihood and environmental benefits.

T H I S D AY • WEDNESDAY, JUNE 15, 2016

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BUSINESSWORLD

NEWS

Kitaoka: Nigeria’s Rice Importation is Ridiculous Kasim Sumaina in Abuja

The President of Japan International Cooperation Agency (JICA), Emeritus Prof. Shinichi Kitaoka, has described the importation of rice by Nigeria as ‘’ridiculous’’.

Kitaoka, who was on his first visit to the country stated that Nigeria has huge agriculture potential, which when utilised, will triple the country’s export of the product to other countries.

He disclosed this at a media parley in Abuja, He said: “When I was an Ambassador of Japan to the United Nations between 2004 -2006, I was involved in the

Says JICA has invested N600billion in Nigeria Security Council’s Reforms Movement. Japan was together with Germany, Indian and Brazil. We created G-4 and we tried to make reforms. Our counterpart was particularly, then; President Obasanjo. We were closely following his demands and style of leadership. That was actually the first time I came to have contact indirectly with Nigeria.“You see, my understanding is that, Nigeria is key to all Africa, and if Nigeria becomes unstable, it is difficult to expect Africa as a whole to be stable and to develop. This is our basic

understanding of Nigeria and Africa.

“I see that Nigeria is a rich country and I was first impressed by the green, the land is very green and I saw a huge potential of more and more Agricultural production.”

Furthermore, he said: “Some eleven years after my contact with Obasanjo, then in terms of economy, Nigeria was number two after South-Africa. Now, Nigeria is the most important country in Africa in terms of population and economic size and the same time, you have difficulty in Northeast with

the rise of radicals and also another is the sharp dropped of oil.

“We need a stable Africa, prosperous Africa and Nigeria’s development and stability is a key to that. So, our interests are in general and not very specific. In my meeting with the government officials, nothing has been opened, but, actually, there are a couple of things that I am thinking.”

He added: “Our biggest plans in the future is the urban transit system, city transit systems in Lagos and this is quite the universal programmes in all

the developing countries. They are expanding very rapidly and therefore, transportation is the key and that’s the kind of place we can assist to effectively help the lives of the Nigerian people. The process of feasibilities studies has started. And if it is complete, and if we decide to start this one, it will be very unique.

We have already started the discussion with Lagos State Government through Labatan, it’s transportation agency. The projects we have executed in Nigeria so far on monetary value is N600 billions since 1983 in Lagos.”

Kitaoka stated further that,

when it comes to individual’s efforts, cooperation can be done either by the two sides, our side and also your side. What we are good at traditionally, we have been successfully assisting South East Asian countries, then; expands it to Asians, and then Africa. Our support stems from public’s health, education, agriculture, to some extent, infrastructure and some others. I think we have a unique approach on health here, we have been engaging in the activities of the eradication of polio in this country together with the Gates Foundation and it was quite successful.”

‘Infrastructural Devt, Funding Catalysts for Business Growth in Nigeria’ Sunday Okobi The Chief Executive Officer of RSM International Limited, an international audit and tax consulting firm, Mrs. Jean Stephens, has identified ease of doing business, ease of capital funding, safety and security as vital tools for business growth in Nigeria.

She noted that RSM as an international business organisation is pleased with the improvement from the ease of doing business in Nigeria.

According to her, “Having strong regulations, and enforced regulations, a safe and informed ways of doing business is critical to investment coming into Nigeria. This implies that we are on a good road for that and we are looking to see more of that.”

Speaking during a visit to S.I.A.O, an audit firm in Lagos recently, Stephens, who expressed delight on the improvement in the Nigerian business development, said: “Nigeria presently has a record of steady growth and improved political stability. Recent rebasing of Nigeria’s GDP made it the largest economy and market in Africa and the 26th largest in the world. Nigeria’s annual growth rate averaged 7 percent over the past decade which was a plus, she stressed.

Stephens added: “We had a roundtable discussion with some of our clients, and all the issues concerning security, transparency of the ways of doing business in Nigeria, the ease of doing and the ease of capital. I think those factors are challenges in doing businesses.

“Also, I think the global community is seeing that Nigeria is addressing those challenges under the present administration and it is very well received by the global community, and that needs to continue. From discussions last night, it seems that there is willingness and a desire. They understand the value this will bring to your economy.”

Furthermore, she said that since almost 40million Nigerians live in the consuming class household, the country should be regarded as one of

the fastest growing economies in the world with the GDP in 2015 at US$510 billion.

To sustain this annual growth rate, she said the Nigeria’s economy should be liberalised, while government should promote public-private partnership (PPP) and encourage strategic alliances with foreign firms, especially for infrastructure development and technology acquisition in critical sectors such as security, power generation, transportation and healthcare.

“The considerable strides that Nigeria made in the recent decade has not been fully recognised outside the country, because Nigeria’s security challenges have gain more coverage in the media than its economic success.

“Therefore, having strong regulations, and enforced them aid safe and informed ways of doing business which is critical to investment coming into Nigeria. But with what Nigeria has achieved over the years in its economy, it implies that we are on a good road, and we are looking to see more of that,” she added.

Speaking further, she: “African countries need to invest in infrastructure, both human and physical. Without these investments, their growth will not be sustainable.

On RSM partnership with S.I.A.O, she stated that the partnership has been wonderful, adding that: “We had meaningful discussions; I have met them over the years and I have met their leaders at international conference over the years. Today, I have the opportunity to come here and observe that they have a very strong capability in terms of serving clients. Our members have been working with them for three years with great success in terms of doing business in Nigeria, their responses has been highly valuable.

“They have very bright set of individuals who are passionate about building the business and serving people.

We are here because we want to continue to provide support and development in Nigeria, so we have stronger partnership as we go forward.”

CLOSING GONG CEREMONY

L- R: Non-Executive Director (South African), BOC Gases Nigeria Plc, Hennie De Waal; Executive Director, Capital Market, the Nigerian Stock Exchange (NSE), Haruna Jalo-Waziri; Chairman, BOC Gases Plc, Abiodun Alabi and Non-Executive Director, BOC Gases Plc, Oyeniyi Oyedele Olawale at the Closing Gong Ceremony at the Exchange…recently

Osibanjo, Ambode Others for Entrepreneurship Summit Palm3 Strategy, in partnership with Zenera Consulting and the Nigerian Television Authority (NTA), has concluded arrangements to hold the Youth Entrepreneurship Summit (YES) and Expo.

In a statement, the group said the summit would be broadcast live on the NTA as part of the network’s commitment to the economic advancement of Nigeria. Also, they announced that the Vice President of Nigeria,

Prof. Yemi Osibanjo, is expected to give the keynote address at the opening plenary.

The summit, according to the organisers, is a social investment to empower entrepreneurs, create sustainable jobs and boost economic opportunities by providing access to finance, skills, knowledge and other critical resources.

“A Proudly Nigerian Expo would run beside the conference and attract more than 5,000

youths nationwide. Registration is now open for the Summit, which will be held in Lagos on Tuesday July 12th, 2016. The meeting’s theme is ‘Towards a diversified economy: harnessing the power of Africa’s largest consumer market, agro-allied resources and technology for innovation through entrepreneurship.”

Other speakers and panelists include, The Executive Governor of Lagos State, Mr.

Akinwunmi Ambode; Acting Managing Director, Bank of Industry, Mr. Waheed Olagunju; Chairman, Nigeria Economic Summit Group, Mr. Kyari Bukar; Chief Strategy Officer of the Dangote Group, Dr. Abdu Mukhtar; Lagos State Technical Vocational Education Board, Olawunmi Gasper, Executive Secretary; CEO, Wecyclers, Mrs. Bilikiss Adebiyi-Abiola; CEO, Generation Enterprise, Mr. Bunmi Otegbade.

IMF Highlights Ways to Better Manage Government Pay Governments should focus on delivering quality public services by effectively managing their wage bill, through adequate fiscal planning, competitive compensation, and employment flexibility, an International Monetary Fund (IMF) staff paper has stated.

The paper, “Managing Government Compensation and Employment,” which builds on new data sets and 20 country case studies, showed that governments can accommodate changing demands and deliver high-quality public services by better managing their wage bill.

Speaking to IMF Survey, Deputy Division Chief, Mercedes Garcia-Escribano, and the Senior Economist,Teresa

Rose Curristine, discussed ways in which governments can improve their management of pay and employment.

Garcia-Escribano, in his contribution noted that government pay and employment policies are important for the delivery of quality public services, which are crucial for the functioning of economies and prosperity of societies. “Since the wage bill is a major item in government spending (on average it represents about a quarter of the budget), its management is a priority in all countries.

The challenge is even more pressing when aging populations demand rising health and pension spending. This is the case in many advanced economies. Many emerging markets

and low-income developing economies face demands for expanding access to key services, such as education and health care, to support inclusive economic growth and poverty alleviation,” Garcia-Escribano explained.

Furthermore, GarciaEscribano noted that effective wage bill management is not an easy task, adding that reining in wage bill spending is even more difficult before elections and during times of economic upswing.

“In many countries, government pay appears to be higher than in the private sector, though this may not be the case for specialized or highly trained staff. Evidence also reveals that adjusting employment

levels and composition—for example, in response to changing demographics—is difficult.

“Our work suggests that countries would benefit from improving medium-term wage planning, better integrating setting wages with the budget process, and more systematic wage negotiations (on an annual or multi-annual basis), as opposed to ad hoc negotiations.

Regular comparisons between public and private sector pay can also enhance the ability to attract and retain staff with needed skills,” he added.

But Curristine stated that to accommodate changing demands and deliver highquality public services, countries need appropriate institutions to better manage their wage bill.

T H I S D AY • WEDNESDAY,JUNE 22, 2016

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EDUCATION Curbing Poverty, Unemployment through Education To tackle the problems of poverty and youth unemployment which are on the increase in Nigeria, experts have called for curriculum reform and a shift from certificate acquisition to equipping students with 21st century work-ready skills. Uchechukwu Nnaike reports There seem to be a consensus among experts and stakeholders in the education sector who participated in a recent summit that Nigeria’s curriculum is overdue for a review if its desire to solve the problems of poverty and unemployment is to be attained.

The two-day second annual Blossom Career and Entrepreneurship Summit with the theme ‘Curriculum Re-examination, Skills Opportunities and the Dilemma of Academic Ambitions’, organised by Best of the World Enterprises Limited (publishers of Blossom Magazine), was held to proffer solution to the problems of the education sector and canvass the need for curriculum reforms in the face of rising youth unemployment in the country.

According to the Chief Executive of Best of the World, Mrs. Joy Chinwokwu, some of the objectives of the summit are: charting a focused direction towards tackling the job crises in Nigeria by advocating curriculum reviews in secondary and tertiary institutions; inspiring students in secondary and tertiary institutions and their guardians to focus on careers and skills with prospects for employment and curtailing fraudulent practices in the education sector, among others that will help transform the education sector and ultimately reinvent the lost academic glory in Nigeria.

She said the post-summit engagements would aim at closing the wide gap between unemployable graduates yearly churned out of Nigerian tertiary institutions and the abundant but untapped skills potential in the country.

Painting a gloomy picture of the unemployment crisis in Africa with a focus on Nigeria, the founding Vice-Chancellor of the National Open University of Nigeria (NOUN), Professor Olugbemiro Jegede in his keynote address titled ‘Global Job Crises: Curriculum Misfits, Reform Perspectives and Strategic Imperatives’, said Africa, with a current population of one billion has about 250 million people unemployed.

“It is forecast that the population will rise to 2.3 billion in 2050, while the unemployment figure will rise to more than one billion if nothing is done to check this unacceptable trend. Some of these statistics are quite disturbing but real.”

Jegede, who is the immediate past SecretaryGeneral and Chief Executive of the Association of African Universities, said over 10 million seek employment annually and 60 per cent of the unemployed are youths; he said at least half of the one billion people are still illiterate as Africa has the world’s highest illiteracy rates.

“Sub-Saharan Africa is home to at least 30 per cent of the world’s poorest people. Africa has at least six out of 10 most unequal countries in the world.”

In Nigeria’s case, he said the country lives in a paradox of rapid economic growth alongside unspeakably huge poverty situation and inequalities that have striking effects on youth and women.

“Nigeria, a country of about 180 million people is said to have a staggering statistics of 50 per cent unemployed, and 80 per cent of our youths are unemployed. Nigeria’s economically active population is about 103 million (age 15 to 64 years) and labour force is about 75 million available for work and actively seeking for job.” some of the causes of youth unemployment, Jegede said: “Our precocious rate of breeding leading to ‘a large youth population bulge’; lack of robustness in our economy to accommodate the large number of people looking for jobs; incessant down-sizing in industry especially in the banking and telecommunication sectors; inadequacy of the job creation opportunities to keep pace with the expanding working age population.”

Other causes he said include lack of wellequipped Technical and Vocational Education

L-R: The Dean of the Archbishop Vining Memorial Cathedral, Ven. Abel Ajibodu; Prof. Ben Adewuyi of the Committee of Vice-Chancellors; and Chairman of the summit, Prof. Olugemiro Jegede, pioneer Vice-Chancellor of the National Open University of Nigeria (NOUN), at the summit in Lagos… recently

and Training (TVET) centres to provide young workers with high quality and in-demand skills; very weak Science Technology Engineering and Mathematics (STEM) base with a direct lack of new skill profiles in emerging new job requirements that are non-existent 10 years ago; limited or no development at all in the knowledge economies of LDCs; huge migrant populations especially with internally displaced groups; drastic changes in traditional ideas about ‘work’.

“Looking back to the 1990s, the big three US motor vehicle companies - Chrysler, Ford and General Motors- collectively hired 1.2 million employees. Today, the big three companies in Silicon Valley- Google, Facebook and Apple- together employ a total 134,000 people.”

He highlighted some of the consequences of youth unemployment to include armed robbery, kidnapping, steep increase in prostitution, street begging, hawking, cyber-crimes, proliferation of ‘baby manufacturing’ dens, corruption, examination malpractices, advance fee fraud (419), cultism, drug and child trafficking, militancy and insurgency.

To solve the problem, he said the country needs to build skills that are appropriate and effective for the 21st century and close the skills gap between tertiary institutions and the world of work; connect youth with the labour market (expose them to career and entrepreneurship meetings or workshops; promote technologies and innovative learning and teaching methods; vigorously pursue public-private partnership in virtually all areas of our economy.

Other recommendations are to tremendously increase and expand access to quality education (UNESCO: Nigeria needs 1.4 million teachers by 2030, and 450,000 lecturers in higher education sector); focus on the renewal of curricula - cascaded from the primary through secondary to the tertiary level; and professional community.

He said the Nigerian society and tertiary institutions must change their focus regarding the purpose of education- which is to arm graduates with a repertoire of quality skills to be creator of jobs and not hunters of jobs; develop to the fullest the country’s focus on entrepreneurship; build a knowledge economy and use applied research as a veritable linkage between education and industry; as well as to spend more resources on STEM at school.

To effectively do these he stressed that the country must comprehensively review its policy

on education and harmonise it with policies in other sectors.

For the strategic imperatives, Jegede said the country should give priority to curriculum reexamination. “One of the current weaknesses of our educational system is the obsolete curricula being used in training students at the various levels of education especially the tertiary education level.

“Our review of the various curricula being used at our institutions of higher learning has not kept pace with global development, research outcomes and current societal needs. It does appear as if we still use analogue thinking to solve current issues which have gone digital. The tertiary institutions are still producing graduates for the labour market without constant reviews of what the market requires. Industry therefore thinks that it has nothing to gain from the tertiary institutions.”

He stressed that the curriculum review must aim for fit-for-purpose personnel to avoid wastage in resources and industry retraining graduates they hire from the tertiary institutions. “There needs to be a symbiotic relationship between academia and industry so that the knowledge directs teaching learning and research being done at the institutions will match what is required by the action-oriented industry driven by target and return on investment.” He also called for industryready collaborative partnership programmes with tertiary institutions to bridge the skills gap. “The skills needed by graduates to function in the outside world and industry are not taught to graduates in our institutions that are increasingly becoming too theoretical.

“A number of things must be done to drive skills development and they consist of the following components: link with the labour market; public-private partnership; creativity and critical thinking; participation to engage stakeholders to develop strong education models; evidence-based programmes with build-in impact evaluation component to ensure that they are results-oriented and focused on quality and learning outcomes and; ICT-based to produce high-quality education and tap into new learning technologies.”

Delivering the second keynote address titled , ‘Why the Private Sector should be Interested’, the Country Senior Partner, Nigeria for PricewaterhouseCoopers, Mr. Uyi Akpata, who was represented by a PWC partner, Mrs. Wunmi Adetokunbo-AJayi, identified factors responsible

for high youth unemployment to include deficient school curricula and poor teacher training; these he said contribute to the failure of educational institutions to provide their students the appropriate skills that would make them employable. He said the problem is compounded by lack of vibrant industries to absorb competent graduates.

Akpata advised universities to transform themselves into places where young people cannot only study and take examinations, but learn from doing, in order to provide them with real world experiences that are relevant. He also called on the private sector to become more involved in financing education and defining the curriculum in schools.

The Lagos State Governor, Akinwunmi Ambode, who commended the organiser, said the summit was in line with the state’s vision of engaging students to focus on acquiring quality education that will enable them to conveniently fit into the job market after graduation.

Ambode, who was represented by his Special Assistant on Education, Mr. Obafela Bank-Olemoh, said a well-articulated curriculum would play a critical role in ensuring the success of its students in the 21st century, as it will help strengthen the fabric of education in the state, which is why the government initiated the Ready Set Work initiative.

In his remarks, the summit co-host, the Bishop of Lagos West, Anglican Communion, Rt. Rev. James Olusolsa Odedeji, who was represented by the Dean of Archbishop Vining Memorial Church Cathedral, Ven. Abel Ajibodu, said the church, which was in the vanguard of the quest for the return of missionary schools to their original owners, is also set to tackle the unwholesome crave for certificate acquisition without commensurate acquisition of knowledge.

He bemoaned the situation where students and parents “in a bid to acquire degrees at all cost, go to any length to ‘buy’ or otherwise procure certificates.” He called on authorities to concentrate curriculum efforts on skills acquisition as a way of creating jobs and encouraging all youths to explore their potential in all spheres, be it academic or technical.

On his part, the Officer in Charge (Regional Office), UNIDO, Dr. Chuma Ezedinma, who was represented by Mr. Francis Ukoh, UNIDO ICT expert, underscored the need to revamp the curriculum and begin to get people to graduate as employers.

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T H I S D AY • WEDNESDAY,JUNE 22, 2016

EDUCATION

Free Education: Abolarin College Where Criteria for Admission is Poverty Yinka Kolawole in Osogbo Indigent students from Oke-Ila, Osun State, who desire quality education can now heave a sigh of relief, as the monarch of the area, Oba Adedokun Abolarin is building a solid educational foundation for youths within the town and beyond with the establishment of Abolarin College at Oke-Ila Orangun, where over 50 students are already studying and acquiring creative knowledge free of charge with three square meals daily.

The unique feature of the college is that the monarch designed it mainly for the sons of poor people in the society and has vowed not to bring in the children of the wealthy people because he observed that the children of the rich would destroy the legacy in all ramifications.

Another interesting aspect of the college is that the monarch did not limit the intake to his community, but extended it to every Nigerian that from a poor home within and outside the country.

The traditional ruler pointed out that youths are the leaders of tomorrow and they have their own lives to live and they can contribute to the socio, economic, political and religious development of their respective communities if they are educated at the right time.

The students are also taught handcraft daily, which has made them creative; this is done in collaboration with the Centre for Transformation and Empowerment Initiative, headed by Mrs. Lola Wey, the Executive Director.

Considering that leadership positions are being used by privileged persons to live in affluence without recourse to the downtrodden, the only source of worry to the monarch is how to raise indigent children and make them responsible citizens and future leaders.

Abolarin, who believes the throne is a missionary work meant to touch the lives of the subjects, said the best way to sustain such legacy is to secure a better tomorrow for the upcoming youths through education which he described as light and a potential machinery for development.

It was this philosophy that inspired the former lecturer at the Oyo State College of Arts and Science, Ile Ife, Saint Andrew’s College of Education Oyo and Times Journalism Institute, Lagos into building a secondary school in his sleepy town, Oke-Ila-Orangun, in Ifedayo Local Government Area of Osun State.

Since the college was built and inaugurated by the Deputy Governor, Mrs. Titi Laoye-Tomori, it has become a shining light to the children of Oke-Ila Orangun and other neighbouring towns because it ranks as one of the best private secondary schools around.

While commenting on the pedigree of the school, Abolarin said: “The Abolarin College is the beginning of a life time legacy that would no doubt raise the consciousness of the children of this generation to the quality standard of education that we enjoyed in our time. I hope they will take advantage of this legacy optimally for a better tomorrow.”

When the deputy governor visited the school, she remarked: “I am highly impressed with this great school established by our erudite Kabiyesi, Oba Adedokun Abolarin, the Orangun of Oke-Ila. The students are all from poor homes but he has transformed their lives with the provision of this high school which beats the standard of any private schools in Nigeria.

“The students are happy and looking healthy and attentive. I wish many rich and comfortable Nigerians could emulate our kabiyesi by replicating this type of school all over our states and country. On behalf of the governor, and all of us in the state I say a big thank you, kabiyesi.”

The monarch, a philanthropist, who is passionate about the down-trodden, said in every leader’s little corner, he should be able to set legacies capable of making live meaningful to the people.

This is the area he is blazing the trail as a school proprietor, a gesture that has endeared him to his subjects. On his passion to build the college, Abolarin said he got the ideas few year ago from one of his trips to Arusia in Tanzania where he saw a beautiful school in a remote rural setting where less privileged children are being given free education to raise future leaders.

Some students of the college

“So, I felt that instead of joining the bandwagon of some Nigerian leaders who travel a lot and see good things but will never bring any legacy to their fatherland, I must use the little resources that God has placed in my hands to replicate the good thing that I saw in Tanzania. That was how the idea of Abolarin College came and today the rest is history.”

He said apart from academics, there are other important virtues that make a total man which also help him to become relevant to himself, his family and the society. “I am talking about moral values such as kindness, honesty, integrity, hard work, truthfulness, selflessness and compassion.

These form part of the curriculum of the college since we are talking about future leaders.

“We are preparing them to be compassionate.

We are preparing them to look beyond themselves when they grow up and occupy positions of authority. We are preparing them to be bold and confident and to be able to stand up for their country in future. We are preparing them to have passion for Nigeria and take care of those who are weak.

“That is why the school’s prayer says: “Make me a servant, humble and meek. Lord, let me always lift up those who are weak.”

“It is not about being a Christian or Muslim.

It is not about nepotism, neither is it restricted to Yoruba children nor children from my home town. It is about any less privileged child around who is willing to be educated. That is why the only criteria for admission is poverty,” he said.

On how admission is conducted, Abolarin said qualified education consultants go to public schools in the state to sample indigent students after which they would conduct two rounds of selection examinations for them and do the final selection for admission. “It is those that do well in the exams that are admitted into the college.

“We are hoping that the rural poor children from other parts of the federation would be given the opportunity when the school begins to expand. In fact, that has already begun because we already have a student from Abraka in Delta State.”

With a view to carving a niche for the students in the area of employment, he also disclosed that skills acquisition and vocational studies are parts of the school’s curriculum, adding that very soon, the students would be taught vocations such as bead making, cake baking, hat making, dry cleaning, photography, fashion designing, among others to bridge the gap in the area of employment.

He said the students are also being encouraged to show interest in agriculture. “We have a school farm where the students are being prepared for agriculture. Even, some of the foods they eat in the boarding house are procured from the school farm.”

On funding, the monarch said the good work would be noticed by kind-hearted Nigerians, corporate organisations, governments and non-governmental organisations (NGOs) in Nigeria and in the diaspora “with the hope

that they would extend help to us to be able to sustain the legacy and even take it to the next level.

“We need help because what we are doing is in the interest of the generality of Nigerians. We are using the school to promote peace, grow communities, stop growth and emergence of future vagabonds, criminals and miscreants that could give problems to the country in future.

“We are also trying to protect the rights of the children from the rural poor. For instance, teenage poor girls suffer a lot of oppression through rape and teenage pregnancy. Government alone cannot address the case. That is why, as an ambassador of the rural poor, I decided to actualise this dream.

“We all need to use our privileges to salvage this country from decadence and bring the rural poor to a pedestal where they won’t be forced to envy our privileges and antagonise us as kidnappers, robbers as Boko Haram are doing today.”

The monarch continued: “The Abodurin College is trying to protect the children of the rich from being consumed by the anger of the children of the poor.” He said he is fulfilled and happy with what he is doing, which he described as a passion.

Speaking with THISDAY, one of the students, Gabriel Michael said: “Being a student of college is a privilege. We have different subject teachers who teach us different languages such as Edo, Hausa, Yoruba, Igbo English and French, unlike the public school where I came from.

Gradually, we have started gaining proficiency in some of the languages.

Adeniyi who came from Aboluade Middle School, Oke-Ila Orangun, said: “I have never seen this kind of beautiful school in my life. The environment is very conducive for learning. I used to trek a long distance to and from my former school because it is very far from my house. But I am now in a boarding house at the college. This makes learning very exciting to me.”

For Erosin Gabriel, the college is every child’s delight. “In my former public school, whenever we came back from school, we would go to the farm in the evening and were not able to show serious commitment to academic works. But now, we are in a boarding house. Whenever we come back from school, instead of going to the farm, we go for prep in the evening to do lessons and prepare for the next academic works the following day. This has helped us a lot to improve in our academic performance.

“We also used to sleep on mats in our parents’ homes and didn’t have the opportunity to sleep well and eat balanced diet. But at Abolarin College, we are comfortable.

We sleep in good beds, eat good food and can now concentrate on our studies.”

Another student, Adewole Ronke said: “The facilities at the college are fantastic. The public school where I came from did not have such facilities. The classrooms were tattered and some

roofs were leaking whenever there were rains.

Also, the number of children per class was too much that the teachers could not give the pupils adequate attention.”

Meanwhile, Wey who organised World Handicrafts Day Celebration and commemoration of the Nigerian child noted that in Africa a child needs quality, free, and compulsory education (which is the bedrock of development) irrespective of background up till age 18, and its importance in building a self-reliant, virile and peaceful nation.

She said any nation that does not give adequate attention to education of all its citizens mortgages its future and Nigeria is on the verge of that.

The theme of the event is ‘Sponsor a Child’.

She said the centre develops individual, organisation and community capacity with the aim of building an equitable, virile, self-reliant peaceful, healthy, prosperous and sustainable society. “We are eco and culture friendly. We also promote and defend the rights of the vulnerable group (women, children, youth, the disabled, the elderly and the sick).

This event is organised here today to emphasise the importance and the right of all children.

“Our choice of Abolarin College is based on the great passion and enthusiasm demonstrated by our amiable father towards the emancipation of the down trodden members of the society which informed his decision to establish the college, transform and enhance the lives of these children who were formerly on the street hawking one thing or the other for survival.

“Apart from this, the college is unique in that its watchword is discipline which makes it different from all other schools in Nigeria, either private or public. The management and staff of the college have also displayed an unparalleled level of commitment and dedication to the vision, mission, goal and objective of the school.

Their exemplary leadership qualities need to be commended. I pray that God will water and nurture their individual gardens.”

At the college, there is a combination of teaching and mentoring which is required at the formative stage of the children. The students are receiving the right and proper upbringing to make them rounded global leaders in the nearest future.

Their minds are being freed, their characters are being formed and their intellectual capabilities are being developed to the fullest.

Wey said the World Handicrafts Day to celebrate Children’s Day, World Environment Day and the International Day of the African Child was to call attention to creative education which is lacking in Nigeria and responsible for the high level of unemployment and poverty in the land which is currently threatening the desired peace and security of the country.

“Experience has shown that the competence required in vocational venture and services are grossly inadequate in Nigeria making us to seek for such skills outside our shores at the detriment of Nigerians resulting in the prevailing high level of unemployment, poverty, youth restiveness and other forms of social vices.

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T H I S D AY • WEDNESDAY,JUNE 22, 2016

EDUCATION

Why is This Child Slow?

CREATIVE MINDS

L-R: Miss Olive Alfred, Onyinye Ugorji, Glory Ogboigbe and Ijeoma Eze, displaying some of the items produced by students of Loral International Boarding Secondary School, Igbesa, Ogun State during the school’s 2016 Business and Technology Week… recently

The World Belongs to Thinkers, Students Told Peace Obi

Nigerian students have been urged to strive and be great thinkers and idea generators, whose ideas and knowledge will drive the needed innovation for their own world and for the future.

Speaking during the 2016 Business and Technology Week of Loral International Boarding Secondary School, Igbesa, Ogun State, the Bursar, Crawford University, Ogun State, Mr. Raymond Nnamdi, said the world belong to great thinkers and that if Nigerian students could think, the country will in the next 10 years, be an exporter of knowledge.

Delivering a paper titled, ‘Developing Entrepreneurial Skills Driven by Technology for Self-reliance’, Nnamdi stated that many innovations, especially the present technology-driven world are as a result of people who could think beyond what they see. He reminded the students that they live in a world where innovative ideas and creative works are increasingly driving economic success, adding that every aspect of life that needs innovation is for the thinkers.

“The world belongs to people who can sit down and generate ideas; people who look at things at the surface will not be able to see it. As a student, it is good that you have that innate mind of thinking because when you think, you don’t see things at the surface anymore. You will start to see yourself going into the university not just to

acquire a degree but to acquire knowledge that will make you a job creator rather than a job seeker.”

Citing examples of people he described as great thinkers and entrepreneurs like Henry Ford, Bill Gates, Aliko Dangote, among others, he said their inventions, innovations and the changes they brought to life and economic activities and the subsequent economic success experienced are all products of ideas.

Nnamdi said if educators could rise to the need to instill in students the culture of thinking, creativity and innovation, it would make them understand the need to go for such knowledge that would guarantee their self-reliance.

“It is now a culture in every university to inculcate in students the idea of being self-reliant after graduation. Now if secondary schools can start to build such things into their curriculum, to start to give students the opportunity to exhibit their skills, it will motivate them towards learning entrepreneurial skills.

In her remarks, the Senior Principal, Mrs. Martha Osime, said entrepreneurial education is common now, and that gone are the days when people go to school just to acquire knowledge devoid of practical skills that encourages self-reliance.

Reflecting on the theme, ‘Business and Technology: Blending the Mix for Self-Reliance’, she said technology on its own does not count so much if it cannot be useful in solving every day’s problems.

“The focus now is on education that is practical, education that is useful that can serve humanity. Today’s education is one that places the students at the centre of it all. We do not want to bring up students who after their studies will be busy looking for jobs; we are bringing up students who can create jobs.”

Stressing the importance the school places on entrepreneurial skills, Osime said it is evidenced by the numerous creative works by the students. “We will take you through a tour of some of the exhibition stands and then you will see what we do here in Loral as far as business and technology is concerned. In fact some of the products you will see and their packaging, you will wonder whether they were made in this school through students.”

A senior secondary two (SS2) student, Master Chizalu Akuobi in his presentation, ‘Digital Era: Stretch Your Boundaries’ said the business world is experiencing a massive transformation brought about by the adoption of technology in transactions and general management.

He said technology is now moving at breakneck pace, adding that most human activities are now carried out digitally.

“Technology is now an integral part of every person’s daily life. Businesses are making use of technology to enhance transaction, negotiation and service delivery to their customers.”

LASTVEB Rewards Outstanding Staff, College Teachers Funmi Ogundare Lagos State Technical and Vocational Education Board (LASTVEB) recently rewarded some of its staff, teachers and non-teaching staff of technical schools in the state for their diligence, dedication and hard work.

The board also presented award to the most outstanding college, principal and vice-principals of various colleges; they received plaques and certificates.

Speaking at the 2015 staff merit award ceremony, the Executive Secretary of the board, Mr. Olawumi Gasper, thanked all the key stakeholders in the technical colleges for their efforts, saying that they are worthy of it.

“It is not just the papers that matter but the efforts they have been able to put into it,” he said and urged them to do more

on Technical and Vocational Education (TVE).

Some of the awardees thanked the board, saying that the award will motivate them to work harder. One of the outstanding teachers/instructor at Government Technical College (GTC) Odomola, Epe, Mr. Benjamin Oke, described the award as a motivating factor and recognition. “In any association or society or establishment that one belongs to, you should be able to contribute to it and I believe that what they have noticed about us is what made them to recognise us.”

He promised to put in more efforts in appreciation of the board’s efforts. “The joy of any engineer is to see that its products are acceptable in the society. As we are going to our respective schools, we are going to work on our students and produce better students for the industry.”

The Principal of Government College Technical, Agidingbi, Mrs. Belinda Odeh, who received the most outstanding principal award, said though it is not her first award, the previous ones she received encouraged her to put in more effort in her work.

“This is not my first award; it takes double effort to remain up there. So if you get an award, I believe it is reward for more work. You will want to do more to be able to move further, you can’t just be stagnant,” she said, adding that she sees her college as a motivation.

Odeh, who responded on behalf of the awardees, thanked the board for its efforts saying, “I appreciate what they have done because it cuts across all the colleges; non-teaching and teaching alike, so it is a way of encouraging us. When you work hard and you are rewarded that shows that you are recognised.

We appreciate the gesture today because it will motivate others to work harder, some others may want to get this award.”

The Principal of GTC Ikotun, Mr. Samuel Daramola, whose college got the award for most outstanding, listed some of the qualities that made his school to stand out to include discipline and students’ academic performance. “The teachers and students are well disciplined, even in terms of extra-curricular activities; the college is not doing badly. We take part in JETs competition and the yearly project competition organised by the ministry of science and technology, students usual excel.

It is what gave us the award.”

He said the award is the first from the board, saying, “people have been working and not encouraged. When teachers are encouraged, they put more efforts. The award will ginger the staff and students to excel.”

This is a question that bogs the minds of teachers and parents of children with “special needs”. Even though many delays in children’s developmental milestones are due to unavoidable congenital mutations or defects, many neurological and cognitive problems children have could be avoided through the lifestyle choices their parents make.

One such choice is to choose to eat fish that’s low in mercury. Catfish is abundant in Nigeria and is one of our traditional culinary dishes. Catfish is good to serve children because it is an excellent ‘brain food’. Catfish is one of the safest options for pregnant and breastfeeding mothers.

Furthermore, cat fish’s fat content is significantly low. It is therefore a good food choice for maintaining the right body weight, with the promise of a slimmer waistline. Cat fish contains Omega 3 and 6 fatty acids, which your heart and brain need for good functioning. Cat fish provides your body with amino acids which are proteins that help your body build leaner muscle bulk, among its many health benefits. These proteins also improve the effectiveness of your immune functions.

Regular servings of cat fish give you nearly half the amount of vitamin B12 you need to eat daily.

Among other functions, B12 plays an important role in digestion and nerve functioning. You’d be pleased to know that cat fish is low in mercury.

Pregnant mothers should be particularly cautious when buying fish as many fish contain mercury.

Mercury is a highly toxic element which has no benefit to the body. Oceans, rivers, saltwater and freshwater are inadvertently contaminated with methylmercury which is a highly toxic form of mercury that builds up in fish, shellfish and animals that eat fish. Mercury finds its way into aquatic waters by being washed in via industry and household waste, sewage-water treatment system, leaking water from mined soil and draining from landfill. Invariably, aquatic food chain becomes contaminated with this pollutant, mercury.

Even though short-term and long-term exposure to mercury can cause adverse effects during any period of a human being’s development, ingesting high levels of mercury can particularly harm the fetus and young children by damaging their developing nervous system. Signs and symptoms of methylmercury poisoning include: peripheral vision, lack of coordination, speech, hearing and walking impairments, and muscle weakness.

If you are trying to get pregnant, you are pregnant or are breast feeding, you should avoid eating shark, swordfish and marlin. Also, eat tuna fish sparingly at these times because all of these fish are high in mercury..

Omoru writes from the UK

UNICEF Donates Education Materials to Sokoto SUBEB Mohammed Aminu in Sokoto The United Nations International Children’s Fund (UNICEF) has donated assorted materials to the Sokoto State Universal Basic Education Board (SUBEB) for mass education.

Speaking during the handover of the materials to the board in Sokoto, the Head, UNICEF Sokoto Field Office, Mr. Mohammed Mohiuddin, said the materials would be used to improve basic and non-formal education in the state.

He said the materials would provide quality education to 1.6 million children in Sokoto and other northern states, adding that at least 500,000 pupils are expected to acquire reading and writing skills at primary three

level.

Mohiuddin said the parents of the benefiting pupils would be encouraged to enroll their wards in schools to help them get quality education within nine months.

In a remark, the Secretary of the Board, Alhaji Farouk Shehu, assured UNICEF that it would render the necessary support to improve basic and non-formal education in the state.

He stated that a committee has been set up to oversee and monitor the distribution of the materials to ensure that they get to the intended beneficiaries.

“The board would distribute to all the benefiting primary schools in Bodinga, Goronyo, Wurno, Gudu, and Binji Local Government Areas.”

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T H I S D AY • WEDNESDAY,JUNE 22, 2016

EDUCATION

Crisis over Appointment of New Offa Poly Rector Deepens Hammed Shittu in Ilorin Strong indication has emerged how crisis has continued to trail the selection and appointment of the new rector of the Federal Polytechnic, Offa, Kwara State.

The position became vacant in February after the former Rector, Mufutau Olatinwo completed his eight-year tenure in office.

Already, a group, Concerned Staff of Federal Polytechnic, Offa has faulted the procedures that led to the shortlisting of three candidates upon which president Muhammadu Buhari would finally pick one person as the rector.

THISDAY checks revealed that the screening committee set up by the Federal Ministry of Education to screen all the aspirants had come and gone and was said to have submitted three candidates for consideration.

Sources close to the ministry told THISDAY that the acting Rector, Mrs. Ayo Olaosebikan of English Department, Mr. Olatunji L.A of Economics Department and Mr. Igbinehi E.M of Mathematics Department were shortlisted.

However, the concerned staff in a statement described the exercise that produced the

three candidates as faulty and uncalled for.

The statement signed by the Coordinator, Mr. Ayokunle Tajudeen, read: “The criteria used by the screening committee of the Federal Ministry of Education was against the laid down rules that had been used for the appointment of vicechancellors of universities, rectors of polytechnics and colleges of technology and provosts of states and federal colleges of education in the country.”

The group said, “the template used by the screening committee was contravened a circular letter addressed to the chairmen of

governing councils of federal polytechnics by the National Board for Technical Education (NBTE) dated January 9, 2007 signed by the NBTE Executive Secretary, Dr. Nuru Yakubu.

The letter with reference number C/TEB 13x/ Vol- 1/190, titled ‘Selection of Rectors - Clarification and Additional Requirement’, which read in parts: “Governing council are requested to note that the maximum age at the time of resumption of duty is 55 years.

Councils are also expected to submit security report from the state security service on each if the three candidates recommended for the president’s consideration

and approval.”

The concerned staff added that, ”based on the criteria listed by the NBTE for the appointment of rector, the three candidates penciled down for the position of rector are not qualified because their area of discipline are not in any of the programmes run in the polytechnic which award diploma.

“The polytechnic does not award diploma in Mathematics or in English or Communication Arts or diploma in Economics while their age barrier also disqualifies them from seeking the position.”

The statement advised the Minister of Education, Mallam

Adamu Adamu to remove the three candidates and all other candidates not qualified on the requirements for the appointment of rector as advertised by the registrar of the polytechnic. It also called on the minister to select officers of unquestionable character and of high integrity to conduct another interview.

The staff said officers to be chosen should not be religious fanatics, adding that “the idea of picking anybody to become rector either from the university or polytechnic will not help but compound various challenges facing polytechnic education in the country.”

Etisalat Bridges Education Gap in North-east with Back-to-school Initiative Uchechukwu Nnaike Etisalat Nigeria has further demonstrated its commitment to the welfare of children, who have been described as leaders of tomorrow through its recently concluded Community Schools Support Programme for the North-eastern part of the country.

The programme, which was executed in collaboration with Abuja Global Shapers Community, a non-governmental outfit, and governments of north eastern states of Borno, Yobe and Adamawa, was aimed at supporting on-going efforts at bolstering pupil enrolment into primary schools, especially in the north-east.

It involved the delivery of educational materials such as school bags, school uniforms, exercise books and writing materials to primary one pupils in 10 primary schools across the three states.

The benefitting schools were Borno-owned Yerwa Practising Primary School; Abbaganaram Primary School; and Bulumkutu Primary School. Katuzu Community School, Gashua; Central Primary School, Potiskum; and Lawan Kawuri Primary School, Geidam are in Yobe State. Wuro Hausa Primary School, Yola Town; Community School, Demsa; and Tudun Wada Primary School, Mayo Belwa are in Adamawa State.

The back-to-school initiative is part of efforts to rebuild the north-east region which in recent years, has been affected by insurgency with the benefiting states as worse hit with unprecedented degrees of destruction, economic downturn and loss of lives.

Beside the destruction of physical structures and paralyzing economic activities in the affected states, the insurgency widened the educational gap between them and the rest of the country. For instance, as at 2013, 52 per cent of males and 61 per cent of females aged six and above in the north-east had not received education. Currently, the figure has risen to about 85 per cent with a glaring risk of losing more generations in terms of education.

According to the Permanent

Secretary, Yobe State Ministry of Education, Grema Modu: “One of our greatest problems now is education particularly enrolment. In this part of the country, we always lament poor enrolment; parents do not want their wards in school.

Before the insurgency, we had this stigma of being educationally backward and this is due to some social, cultural and religious factors. We had been working on parents to allow their wards go to school.

Some state governments had to embark on free feeding just to encourage pupils to go to school. All the gains appear to have been lost to the insurgency as most parents do not want their children in school anymore.”

It is pertinent to note that fixing the ruins in the region’s education sector will come at a huge cost, both financial and manpower and the home governments cannot bear the burden alone. It will require a home grown solution made up of cross-sector collaboration among public-spirited individuals and organisation.

Global bodies like the United Nations through its relevant organs and the World Bank, as well as countries like the UK, USA and Japan have all pledged one form of commitment or the other to the cause of rebuilding the region. These efforts are significant, but not adequate as they aim basically at infrastructural development and de-radicalisation of the region.

Locally, Etisalat Nigeria is making efforts aimed at proffering home-grown solutions, one of which is the Community Schools Support Programme.

The Vice-President, Regulatory and Corporate Affairs, Ibrahim Dikko, hinges this on the company’s corporate culture of adding value to communities through sustainable initiatives.

“The north-east is the most vulnerable region in the country today and we owe it a duty to support its rebuilding. It has gone through a lot of fierce challenges in the past years, a situation that has led to failures in almost all the spheres of life there. For us, this is a period to stand by them and contribute in some very

WIDENING ACCESS TO EDUCATION

Some of the beneficiaries of Etisalat’s Community Schools Support Programme for the north-eastern part of the country

EKSU VC Backs Scrapping of Post-UTME Olakiitan Victor in Ado Ekit i

The Vice-Chancellor, Ekiti State University, Ado Ekiti, Prof.

Samuel Bandele, has described the post-Unified Tertiary Matriculation Examinations (post-UTME) being organised

by Nigerians universities as unnecessary duplication, saying that he supports the scrapping of the exercise.

The VC has also commenced the building of 20,000 hostels to make the university a fully residential institution to break the long standing tradition of ‘campus marriages’being

practiced by some students and checkmate students’ restiveness.

Bandele said this in Ado Ekiti on Monday during a press conference heralding the 21st convocation of the university.

“The scrapping of post-UTME is a good one, but this cannot stop the universities from screening prospective students, because that has been the tradition even before the advent of JAMB. “Let me say this, the JAMB allocated 10,000 students to EKSU for admission in 2016 and we can’t admit all of them. So, the university would have to deploy its own internal mechanism to be

able to get the best out of them.

“We should not also forget that the university would have to screen to know those who have requisite qualifications and those with fake certificates. So, the issue extortion which some said accounted for the scrapping is not known to us here.”

Bandele said the institution had introduced summer school/ make up test programme to facilitate graduation of its students.

The Professor of Educational Evaluation said the programme, which would enable students to re-sit for their failed courses

during the semester break and as such assist them not to spend more than necessary period for acquisition of their university degrees.

The vice-chancellor added that the move was in cognizance of the number of failed courses within an academic year which could hinder the progress of students.The convocation ceremonies for first degree graduates will hold on June 24, while June 25 would be for postgraduate degrees. He said 24 among the 3,058 full-time students for the 2014/15 session bagged first class.

‘Investment in Education will Bring Hope to Future Generations’ Funmi Ogundare The former Vice-Chancellor, Ondo State University of Science and Technology (OSUSTECH), Prof. Tolu Odugbemi, has stressed the need for the country to have a proud and cohesive people where appropriate values and attention are placed on key sectors such as education, human rights and security by government.

He said investment in the key areas especially the education sector would bring a future and hope for this generation and future generations.

Odugbemi, who said this recently at a reception held in his honour tagged, ‘An Hour with the Doyen’ by the management of University of Lagos (UNILAG), stressed

that honesty, hard work and expression of all good values that were honoured in the old days and even taught as civics should be brought back as attributes of good citizens, rather than the acquisition of wealth by any means.

“There is unbridled and reckless display of wealth, which should have been directed to productive ventures in health, education and agriculture. There should also be a workable code of conduct amongst various professional groups; teachers, judges, doctors, civil servants etc. Monies are recklessly spent in public places to show off.

“This behaviour is not good for the country as it sends wrong signals to our youths. Our administration has pivotal role to get us out of the ‘hopelessness’

and ignorance/misconceptions.”

Odugbemi said attention must be paid to the implementation of good ideas if they are to be useful for positive change in the country, adding that character building must accompany any form of learning for graduates to be relevant in the society.

“We Nigerians must re-assure ourselves that we can rebuild our societies by refocusing our values on positive and virtuous traits.”

The don expressed concern about the country’s education sector, saying that instead of the current education system helping to propel the country forward, the country faces a gloomy state of decay because of wrong ideas and teachings that made ‘self’ instead of the ‘society’ the centre of development.

“The over-development of

“self” in positive ways would not have harmed the nation but the greed attached to ‘self-development’ has. There are supervisory bodies set up to monitor development of education in our schools and higher institutions. Some members of such supervisory bodies are generally uninformed about their duties, and responsibilities attached to their offices.

“While some work very hard for excellence others see membership of such bodies as opportunities to ‘make it’. Projects to be supervised by supervisory bodies become personal ‘projects’ of self-aggrandisement they execute with nothing to show at the end of the day. Even the funds for execution of necessary projects are usually taken to be ‘for sharing’.

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WEDNESDAY, JUNE 22, 2016 • T H I S D AY

CITYSTRINGS

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

Ambode Extends Midas Touch to Iyana Oworo After personally witnessing the terrible traffic caused by the Iyana Oworo Bus Stop and the long hours commuters spent on a daily basis, Lagos State Governor Akinwunmi Ambode recently constructed a segregated bus park to decongest the persistent traffic on the Third Mainland Bridge. Adedayo Adejobi writes

Newly constructed segregated Bus Park at Iyana Oworo, Lagos

O

n June 18, 2015, when Lagos State Governor, Mr. Akinwunmi Ambode alongside officials of the State Government especially from the Ministry of Works and Infrastructure embarked on a tour of some major traffic points in the metropolis, the intention was clear.

Prior to the tour, there had been series of complaints from residents on the increasing traffic gridlock that had enveloped major parts of the state since he assumed office on May 29, 2015.

To make matters worse, the constant traffic was giving rise to the activities of petty robbers and hoodlums who took advantage of the opportunity to rob unsuspecting motorists of their possessions in traffic.

For most Lagosians, it was a situation that required urgent attention. Governor Ambode did not hesitate to respond swiftly.

First, he directed the State Ministry of Transportation to identify problematic traffic points in the metropolis of which

the ministry immediately embarked upon and briefed the Governor on their findings.

Consequently, the June 18 visit saw the Governor inspect Ojodu Berger Bus Stop, Iyana Oworo Bus Stop, Ketu, Abule Egba,

On an average, Lagosians returning from the Island have to contend with traffic from the UNILAG waterfront down to Iyana Oworo Bus Stop owing to the activities of commercial buses dropping and picking passengers at the bus stop without taking into cognisance the situation their activities were posing to residents

Alimosho and Mile 12 areas.

In each of the locations, the Governor descended from his vehicle and with his team, they conducted an on the spot assessment of the circumstances that usually contribute to the traffic snarl.

At the Iyana Oworo bus stop, the Governor’s passion to address the situation was obvious.

Traffic Jam seemed to have found a new home inward and outward of Iyana Oworo, subjecting residents living on the Mainland and working on the Island untold hardship and hours of traffic on a daily basis.

On an average, Lagosians returning from the Island have to contend with traffic from the UNILAG waterfront down to Iyana Oworo Bus Stop owing to the activities of commercial buses dropping and picking passengers at the bus stop without taking into cognisance the situation their activities were posing to residents.

But with his sleeves rolled and from a vantage point on the Pedestrian Bridge by the bus-stop Ambode analysed the situation from his personal experience as well as from

feedbacks by Lagosians and gave room for members of his team to make their own informed contributions to the discussion.

For him, the decision to embark on a personal inspection of the situation was to have a feel of what Lagosians were going through and how they intended to solve it.

“I have here with me, heads of agencies that are really concerned about the traffic situation. I like them to speak to you directly and let you know that we are together as a team, we're going to start seeing solutions to the traffic challenges that we experience in Lagos.

“It's not enough for us stay to in the office and believe that we can create solutions to the traffic challenge that we have in the state. So, we decided that we are going to go round ourselves and see how we can improve on the traffic situation in Lagos.

What we have done in the last three hours is to show that we are greatly concerned about the traffic gridlock that we have been experiencing in the last few months.”

Matching words with action, not too long after the inspection, work commenced at

41

WEDNESDAY, JUNE 22, 2016 • T H I S D AY

CITYSTRINGS

The new look Iyana Oworo Bus Park

Iyana Oworo Bus Park...Ambode matching words with action

the Bus Stop.

As an answer to the persistent traffic, the State Government constructed segregated bus park to ease the flow of traffic at inward and outward of Iyana Oworo Bus Stop.

With the construction work nearing completion, the solution seemed to have worked the needed magic.

Residents and motorists alike have heaped accolades on the Governor for finally solving an age-long headache on the axis.

A regular commuter on the axis, Mr. Tony Okeh said the construction of the segregated bus park was a big relief to him and others who ply the route on a daily basis.

Okeh, who works on the Island with a multi-national corporation, said words could really not recount the agonising ordeals which the construction had removed from his daily routine.

He said: "I just want to appreciate the administration of Governor Akinwunmi Ambode for a job well done. Though the principal duty of government is to make life more comfortable for the citizens but when a government is really working towards that, they deserved to be commended just as we condemn those that are not performing.

But of a truth, this administration in Lagos under the leadership of Governor Ambode

Before now, we normally experience serious traffic on Third Mainland Bridge especially while descending the bridge due to the activities of commercial buses who pick and drop off passengers at Iyana Oworo and this was because of absence of a segregated bus park like that newly constructed one. Since it has been constructed and opened for use, the traffic has suddenly disappeared and this is as a result of creative way of solving problems

Ambode (2nd left) pointing at something of interest, SSG, Mr. Tunji Bello (2nd right), GM LASTMA, Mr. Babatunde Edu (right) and the former Special Adviser on Central Business District (CBD), Mr. Folarin Coker (left), during the inspection tour of traffic points in the state at Oworoshoki, Lagos‌recently

is performing and I say kudos to them.

"Before now, we normally experience serious traffic on Third Mainland Bridge especially while descending the bridge due to the activities of commercial buses who pick and drop off passengers at Iyana Oworo and this was because of absence of a segregated bus park like that newly constructed one.

Since it has been constructed and opened for use, the traffic has suddenly disappeared and this is as a result of creative way of solving problems," Okey said.

Another daily commuter on the axis, Kunle Joseph, a journalist who covers the Federal High Court in Lagos, said the bus park really proved the fact that the Governor

was thinking outside the box to proffer unique solutions to the issues confronting the people of the state.

"I was amazed to see the very beautiful bus park. Even from my interaction with commercial bus operators, I realised that they were happy with the befitting structure erected for their use by the State Government.

"All I like to add is that the Governor should not relent in his bid to massively transform the state. He has said that he want to continue in the tradition of excellence which the Lagos State has always been known for and he has also said that the progress of the state is paramount to him, and so in that spirit, I like to encourage

Governor Ambode to continue his good works," Joseph said.

A commercial bus operator otherwise known as Danfo driver, Mr. Segun Abass thanked the government for the project, but urged that work should be expedited on the other side.

"Though they are working very fast on the project, I like to encourage them to continue," he said.

Iyana Oworo is not the only bus stop feeling the impact of Ambode’s strategic thinking. Other areas including Ajah, Abule Agba and Oshodi have also received attention expected to bring long lasting solution to traffic snarl across the metropolis.

42

WEDNESDAY JUNE 22, 2016 T H I S D AY

T H I S D AY WEDNESDAY JUNE 22, 2016

43

44

T H I S D AY • WEDNESDAY, JUNE 22 , 2016

BUSINESS/MONEYGUIDE

Mauritius Eyes Nigeria, Other Africa Markets to Grow Tourism Mauritius is targeting Nigeria and other African nations to help sustain growth in tourism revenue that’s expected to reach almost 10 per cent this year, the country’s Deputy Prime Minister and Tourism Minister, Xavier Luc Duval has said.

The country received 114,796 visitors from Africa in the first five months of this year, accounting for 22 per cent of the total, according to Statistics Mauritius. Of the visitors from Africa, more than half came from the nearby island of Reunion, and 37,168 from South Africa, the Port Louis-based agency’s latest data show.

“Africa represents a huge potential for Mauritius, which we need to seize,” Duval told Bloomberg in an interview.

“There are people who are very rich and there is a middle class that is growing on the continent. We are doing well in the South African market, but

there are many other countries that interest us, like Nigeria or the entire West African region.”

Tourism in Mauritius is one of the biggest generators of foreign-exchange revenue for the $12 billion economy. The sugar- and textile-exporting nation expects to earn 55 billion rupees ($1.6 billion) from foreigners who visit the island this year, compared with 50.2 billion rupees in 2015, when it received 1.2 million visitors.

Arrivals from Europe currently account for 58 percent of visitors, mainly from France, the U.K. and Germany. The number of visitors from Europe is expected to be boosted further by Deutsche Lufthansa AG’s introduction last month of non-stop flights to the island by its low-cost budget unit EuroWings, Duval said.

The country also plans to draw more visitors from Asia.

AirAsia Bhd, a Malaysian

low-cost carrier, is expected to begin flights to Mauritius in October, and could bring about 50,000 passengers a year to the nation’s shores, Duval said.

That may help offset a decline in arrivals from China, after the decision by China Southern Airlines Co. to discontinue its flights to the country. The number of tourists from China dropped 3.9 per cent to 32,828 in the January-to-May period.

“The recent agreement signed with the China National Tourism Administration is expected to revitalise the Chinese market,” Duval said.

“The agreement focuses on building the Mauritian product in China. We should remember the good progress recorded in tourist arrivals from China in recent years. We reached 90,000 arrivals in 2015, while five years ago we had only 7,000 Chinese who visited the country.”

NAICOM Approves NICON Insurance 2014 Accounts

A Tourist Centre in Nigeria

MARKET INDICATORS MONEY AND CREDIT STATISTICS

Firms’ total assets valued at N37.62bn James Emejo in Abuja The National Insurance Commission (NAICOM) has approved the 2014 audited financial statement of NICON Insurance Limited.

The approval was granted following the confirmation by the insurance apex regulator that NICON had substantially complied with regulatory requirements. The commission’s approval was covered in a letter to the company dated June 21, 2016, a copy, which was obtained by THISDAY, yesterday.

According to the highlights of the approved accounts, the company’s total assets stood at N37.62 billion as at December 31, 2014 while shareholders’ funds stood at N14.02 billion.

Gross Premium Written and

Gross Premium Income were valued at N826.22 million and N758.10 million respectively.

In addition, the company’s Net Claims Expenses and and Underwriting Result were recorded at N157.68 million and N443.26 million respectively.

Its total liabilities was valued at N23.59 billion while management expenses stood at N1.53 billion. The company however, recorded a loss after tax of N758.99 million.

According to NAICOM’s letter of approval for the accounts, which was signed by its Director in Charge of Supervision, O.O. Opara, the commission said it had “no objection to the publication of your audited financial statements for the year ended 31st December, 2014 as submitted.”

However, It added: “As usual,

the audited financial statements and related statutory returns will be subjected to further regulatory processes and where any material error or misstatement of figure/fact is discovered at any stage of the regulatory processes, whether due to fraud or error, the company will be required to do a restatement in accordance with the provisions of the extant laws.”

The board of NICON had recently launched a strategic roadmap which would among other things, reposition the company through the appointment of international I.T firms to deploy financial information technology infrastructure to enhance businesses processes.

It further approved an injection of N500 million to boost the working capital of the company.

NPA Boss Foresees 2016 Revenue Rising as Naira Floats Revenue from Nigeria’s ports may beat initial estimates this year after the country abandoned a peg on the naira in favour of a more flexible, market-driven exchange rate policy, to alleviate dollar shortages that had been hurting businesses.

“By floating the naira and appointing primary dealers that are going to make dollars available, people can continue their businesses, which is good for the ports,” the Chief Executive Officer of the Nigerian Ports Authority (NPA), said in an interview with Bloomberg.

“Once the economy is moving, I will get much more,” he said, referring to 2016 earnings projections. Cargo traffic at Nigeria’s sea ports declined 9.6 per cent to 78.3 million metric tons in 2015 as importers struggled to obtain foreign-exchange due to capital controls and oil prices slumped, the NPA said in April. The agency cut this year’s expected revenue

to $1.2 billion compared with $1.8 billion realised in 2015, owing to “challenges” facing the ports, Abdullahi said.

The Central Bank of Nigeria allowed the currency of Africa’s biggest economy to float freely on Monday following a June 15 announcement that it would let a market-driven exchange rate alleviate the dollar shortage that has strangled companies and contributed to the contraction, for the first time since 2004, of the gross domestic product during the three months through March. The naira gained 0.7 per cent to 280.50 per dollar as of 11.28 a.m. in Lagos on Tuesday after declining 29.6 per cent on Monday.

The new foreign-exchange policy, “may cause naira volatility but it will eventually stabilise,” Abdullahi said.

The government must find a solution to the restiveness in the key oil and gas-producing Niger delta region, he said.

Militants have blown up

pipelines in the last few months, sending oil output plunging to an almost thirty year low in Africa’s second-largest crude producer. The ports authority is dredging the channels leading to the nation’s six sea-ports, increasing depth to an average 14 meters from 9 meters and enabling larger ships to dock, Abdullahi said. “It is cost effective to manage bigger vessels.

It gives us economies of scale.”

The NPA is discussing the development of the port of Badagry, a coastal town within Lagos state, with local and international investors, including Maersk Line, Oando Plc and Intels Ltd. It is also talking with an investor to build a specialized port in Ilaje, in South-western Nigeria, for the export of solid minerals, Abdullahi said.

“We want people to be able to export solid minerals easily, which will help diversify the economy.” He declined to say who the investor was.

(MILLION NAIRA)

MARCH 2016 Broad Money (M2)

20,470,436.00

-- Narrow Money (M1)

9,040,817.68

---- Currency Outside Banks

1,441,365.03

---- Demand Deposits

7,599,452.65

-- Quasi Money

11,429,618.32

Net Foreign Assets (NFA)

5,551,714.27

Net Domestic Assets(NDA)

14,918,721.73

-- Net Domestic Credit (NDC)

22,664,815.74

---- Credit to Government (Net)

3,782,578.01

---- Memo: Credit to Govt. (Net) less FMA

4,991,246.39

---- Memo: Fed. and Mirror Accounts (FMA)

-1,208,668.38

---- Credit to Private Sector (CPS)

18,882,237.73

--Other Assets Net

-7,746,094.02

Reserve Money (Base Money)

5,758,634.07

--Currency in Circulation

1,811,090.48

--Banks Reserves

3,947,543.59 • Source - CBN

MANAGED FUNDS Initial Price (N)

Buying Price(N) 1,660.29

1,685.29

1,000.00

11,002.32

11,326.67.11

Stanbic Balanced Fund Stanbic IBTC NEF

Selling Price

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 20, JUNE 2016 The price of OPEC basket of thirteen crudes stood at $46.24 a barrel on Monday, compared with $44.18 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

45

T H I S D AY • WEDNESDAY, JUNE 22, 2016

Nigeria’s top 50 stocks based on market fundamentals

21-June-16 20-June-16

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

Table 1 Market Statistics Mkt Indicators

01 Dangote Cement Plc

185.00

179.99

2.78%

3,152,493,869,925.00

10.64

17.39

6.41

4.32%

4.89

02 Nigerian Breweries Plc

142.49

141.42

0.76%

1,129,817,585,531.12

5.37

26.54

4.09

2.53%

6.63

03 Guaranty Trust Bank Plc

22.05

21.38

3.13%

648,957,501,889.20

3.38

6.53

2.83

8.03%

1.57

816.00

794.88

2.66%

646,807,501,632.00

29.95

27.25

4.28

3.55%

17.02

05 Zenith Bank Plc

16.69

15.96

4.57%

524,007,481,288.34

3.37

4.96

1.21

10.78%

0.88

Table 3 Top 5 Gainers

06 Lafarge Africa Plc.

77.90

75.00

3.87%

354,826,850,999.00

5.93

13.14

1.33

3.85%

2.01

Stock

07 Ecobank Transnational Incorporated

16.65

16.15

3.10%

305,520,027,729.75

1.39

11.96

0.59

3.72%

0.82

08 Forte Oil Plc.

200.05

200.00

0.03%

260,561,344,655.15

4.45

44.97

2.09

1.72%

5.63

09 Seplat Petroleum Dev. Co. Ltd

350.00

350.00

0.00%

193,658,609,550.00

23.48

14.90

1.71

4.55%

0.69

10 United Bank for Africa Plc

4.98

4.75

4.84%

180,672,041,083.56

1.64

3.03

0.57

12.05%

0.54

11 Access Bank Plc

6.10

5.80

5.17%

176,460,626,949.10

2.28

2.68

0.52

9.02%

0.48

16.05

15.90

0.94%

160,500,000,000.00

2.04

7.88

1.36

0.62%

1.43

13 Guinness Nig Plc

104.00

99.90

4.10%

156,612,371,552.00

0.78

133.63

3.14

0.00%

3.50

Table 4 Top 5 Losers

14 FBN Holdings Plc

4.31

4.28

0.70%

154,708,711,933.52

0.42

10.21

0.31

3.48%

0.27

Stock

32.10

32.10

0.00%

121,443,809,625.00

0.32

101.85

2.05

0.16%

15.17

138.00

138.00

0.00%

88,401,470,094.00

11.12

12.41

1.13

1.59%

3.68

17 Oando Plc

7.17

7.00

2.43%

86,288,217,469.98

0.50

14.34

0.15

10.46%

0.55

18 Dangote Sugar Refinery Plc

6.99

6.66

4.95%

83,880,000,000.00

0.96

7.27

0.83

7.15%

1.44

19 P Z Cussons Nigeria Plc

21.11

21.11

0.00%

83,816,770,419.95

1.10

19.24

1.16

6.16%

1.99

20 International Breweries Plc.

19.99

19.99

0.00%

65,852,043,107.20

0.64

31.28

3.56

1.25%

5.47

1.61

1.54

4.55%

62,340,805,854.25

0.05

30.69

1.53

0.00%

0.71

22 Mobil Oil Nig Plc.

169.50

169.50

0.00%

61,120,896,909.00

13.51

12.54

0.95

4.25%

3.98

23 Total Nigeria Plc

179.30

177.00

1.30%

60,876,265,374.10

11.92

15.04

0.29

7.81%

3.75

24 Flour Mills Nig. Plc.

22.50

22.05

2.04%

59,045,336,707.50

1.84

12.22

0.18

8.89%

0.58

25 Julius Berger Nig. Plc.

42.10

42.10

0.00%

55,572,000,000.00

1.85

22.77

0.42

3.56%

2.29

26 Diamond Bank Plc

2.27

2.28

-0.44%

52,574,082,957.36

0.24

9.29

0.24

0.00%

0.24

27 Sterling Bank Plc

1.51

1.51

0.00%

43,473,531,370.26

0.36

4.22

0.39

5.96%

0.45

28 Fidelity Bank Plc

1.36

1.30

4.62%

39,389,116,541.12

0.48

2.83

0.27

11.76%

0.21

29 U A C N Plc.

19.50

19.50

0.00%

37,456,855,546.50

2.70

7.22

0.51

5.13%

0.51

30 Presco Plc

35.70

35.70

0.00%

35,700,000,000.00

3.28

10.89

3.14

0.28%

1.59

31 Cadbury Nigeria Plc

18.00

18.01

-0.06%

33,807,636,720.00

3.21

5.61

1.00

7.22%

3.27

32 FCMB Group Plc

1.66

1.67

-0.60%

32,872,499,896.46

0.24

6.91

0.22

6.02%

0.20

33 Wema Bank Plc.

0.84

0.82

2.44%

32,402,551,508.04

0.06

13.92

0.71

0.00%

0.70

30.00

30.00

0.00%

28,617,300,000.00

2.76

10.88

2.94

0.33%

2.37

2.42

2.31

4.76%

25,410,000,000.00

0.16

15.29

1.53

2.07%

1.46

36.12

36.12

0.00%

25,284,000,000.00

2.49

14.53

3.58

3.18%

16.63

37 Custodian And Allied Insurance Plc

3.92

3.74

4.81%

23,056,907,644.40

0.71

5.49

0.77

3.57%

0.88

38 National Salt Co. Nig. Plc

7.92

7.92

0.00%

20,983,551,953.76

0.79

9.97

1.30

6.94%

2.96

16.53

15.00

10.20%

19,767,838,346.64

0.81

20.48

0.65

1.81%

1.50

40 Skye Bank Plc

1.12

1.11

0.90%

15,545,937,579.20

0.85

1.31

0.11

26.79%

0.11

41 Honeywell Flour Mill Plc

1.83

1.89

-3.17%

14,512,261,714.14

0.14

12.95

0.30

8.74%

0.68

42 Unity Bank Plc

1.12

1.17

-4.27%

13,092,058,495.04

0.54

2.06

0.21

0.00%

0.15

43 Continental Reinsurance Plc

1.14

1.10

3.64%

11,824,928,515.68

0.21

5.52

0.60

10.53%

0.76

44 Cement Co. Of North.Nig. Plc

8.00

8.00

0.00%

10,053,422,128.00

0.96

8.37

0.77

1.25%

0.99

45 UACN Property Development Co. Limited

4.50

4.29

4.90%

7,734,374,977.50

1.81

2.49

0.69

15.56%

0.23

46 Nigerian Aviation Handling Company Plc

4.22

4.02

4.98%

6,854,203,125.00

0.33

12.74

0.81

4.74%

1.12

47 Wapic Insurance Plc

0.50

0.50

0.00%

6,691,369,126.00

0.10

5.16

0.94

6.00%

0.45

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

0.80

0.80

0.00%

5,544,163,584.00

0.28

2.89

0.17

6.25%

0.57

50 Fidson Healthcare Plc

1.90

1.90

0.00%

2,850,000,000.00

0.50

3.83

0.35

2.63%

0.45

04 Nestle Nigeria Plc

12 Stanbic IBTC Holdings Plc

15 Unilever Nigeria Plc. 16 7-Up Bottling Comp. Plc

21 Transnational Corporation Of Nigeria Plc

34 Okomu Oil Palm Plc 35 Mansard Insurance Plc 36 Cap Plc

39 Glaxo Smithkline Consumer Nig. Plc.

TOTAL TOTAL MARKET CAP % OF MARKET CAP Annotation - MA* = Simple Moving Average

9,425,405,598,209.82 10,105,213,987,682.50 93.27%

NSE All Share Index NSE Market Cap (N'Trillion) Thisday BGL 50 Index Thisday BGL 50 Market Cap (N'Trillion)

Open Close Change % 20-June-16 21-June-16 28,769.90 9.88

29,422.71 10.11

2.27 2.27

118.25 9.21

121.05 9.43

2.37 2.37

Open Close Change % 20-June-16 21-June-16

Glaxo Smithkline Consumer Nig. Plc. Access Bank Plc Nigerian Aviation Handling Company Plc Dangote Sugar Refinery Plc UACN Property Development Co. Limited

15.00

16.53

10.20

5.80 4.02

6.10 4.22

5.17 4.98

6.66 4.29

6.99 4.50

4.95 4.90

Open Close Change % 20-June-16 21-June-16

Unity Bank Plc Honeywell Flour Mill Plc FCMB Group Plc Diamond Bank Plc Cadbury Nigeria Plc

1.17 1.89 1.67 2.28 18.01

1.12 1.83 1.66 2.27 18.00

-4.27 -3.17 -0.60 -0.44 -0.06

NSE ASI rebounds with 2.27% appreciation based on renewed optimism

Market pulse on the Nigerian Stock Exchange (NSE) today – Tuesday, June 21, 2016 ended on a positive note as the market returns to the green zone due to positive response from investors in light of prevailing economic policies. This was further highlighted by positive performances from all NSE Sub sectors: Banking, Insurance, Consumer Goods and Oil & Gas. Furthermore, trading activities increased in volume as 533.32 million shares worth N6.79 billion in 5,736 deals exchanged hands today. This is an increase from the 416.66 million shares worth N2.25 billion in 4,684 deals carried out on Monday. Topping in volume terms was UBA Plc, Guaranty Trust Bank Plc and Zenith Bank Plc while Guaranty Trust Bank Plc and Zenith Bank Plc ended trading as the most active stocks in value terms.

The All Share Index (NSEASI) closed positive with a 2.27% (+652.81) increase to close at 29,422.71 from 28,769.90 the previous trading day. Market Capitalization depreciated in tandem to N10.11 trillion from N9.88 trillion of prior trading day. Similarly, the Thisday BGL 50 Index followed suit with an greater growth of 2.37% to close at 121.05 from 118.25 recorded the previous trading day, while its market capitalization stood at N9.43 trillion from N9.21 trillion of the previous trading day.

A total number of 37 stocks gained on the bourse today while 10 stocks declined, 51 leaving stocks unchanged. Again, GlaxoSmithkline Consumer Nig. Plc emerged the toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 10.20% to close at N16.53 per share. It was followed

by Access Bank Plc with a gain of 5.17% to close at N6.10 per share. Others on the gainers list include: Nigerian Aviation Handling Company Plc, Dangote Sugar Refinery Plc and UACN Property Development Co. Limited, while on the decliners’ list; Unity Bank Plc led with a loss of 4.27% to close at N1.12 per share.

It was followed by Honeywell Flour Mill Plc with a loss of 3.17% to close at N1.83 per share. Others on the losers list include; FCMB Group Plc, Diamond Bank Plc and Cadbury 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

46

T H I S D AY • WEDNESDAY, JUNE 22 , 2016

MARKET NEWS

NSE Index Hits New High as Bulls Return to Stock Market Goddy Egene and Eromosele Abiodun The Nigerian Stock Exchange (NSE) All-Share Index (ASI) hit a new high yesterday as the Bulls returned to the stock market following successful take-off of the flexible foreign market.

The ASI, which fell by 1.63 per cent the precious day, appreciated by 2.27 per cent

to close at 29,422.71 yesterday.

This is the highest point the ASI reached so far this year.

Similarly, market capitalisation added N224.2 billion to close at N10.1 trillion. The appreciation recorded in the share prices of Dangote Cement, Access Bank, Zenith Bank, UBA and GTBank were mainly responsible for the gain recorded in the ASI. Zenith Bank rose by 4.6 per cent, while GTBank and

T H E MAIN BOARD

DEALS

MARKET PRICE

Dangote Cement appreciated by 3.1 per cent and 2.8 per cent respectively. A total of 37 stocks appreciated as against 10 that depreciated. Also, activity level strengthened as volume and value traded rose 28.0 per cent and 201.4 per cent to 533.3 million units and N6.8 billion respectively.

Sectoral performance showed that the NSE Banking Index lead with 3.5 per cent on the

N I G E R I A N QUANTITY TRADED

STO C K

VALUE TRADED ( N)

Daily Summary as of 22/02/2016 Printed 22/02/2016 14:36:10.010

Daily Summary (Bonds) No Debt Trading Activity Daily Summary (Equities) Activity Summary on Board EQTY AGRICULTURE Crop Production OKOMU OIL PALM PLC. PRESCO PLC Crop Production Totals Livestock/Animal Specialties LIVESTOCK FEEDS PLC. Livestock/Animal Specialties Totals AGRICULTURE Totals CONGLOMERATES Diversified Industries A.G. LEVENTIS NIGERIA PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC. Diversified Industries Totals CONGLOMERATES Totals CONSTRUCTION/REAL ESTATE Infrastructure/Heavy Construction JULIUS BERGER NIG. PLC. Infrastructure/Heavy Construction Totals Real Estate Development UACN PROPERTY DEVELOPMENT CO. LIMITED Real Estate Development Totals CONSTRUCTION/REAL ESTATE Totals CONSUMER GOODS Beverages--Brewers/Distillers CHAMPION BREW. PLC. GUINNESS NIG PLC INTERNATIONAL BREWERIES PLC. NIGERIAN BREW. PLC. Beverages--Brewers/Distillers Totals Beverages--Non-Alcoholic 7-UP BOTTLING COMP. PLC. Beverages--Non-Alcoholic Totals Food Products DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC NASCON ALLIED INDUSTRIES PLC N NIG. FLOUR MILLS PLC. TIGER BRANDED CONSUMER GOODS PLC Food Products Totals Food Products--Diversified CADBURY NIGERIA PLC. NESTLE NIGERIA PLC. Food Products--Diversified Totals Household Durables VITAFOAM NIG PLC. Household Durables Totals Personal/Household Products P Z CUSSONS NIGERIA PLC. UNILEVER NIGERIA PLC. Personal/Household Products Totals CONSUMER GOODS Totals FINANCIAL SERVICES Banking ACCESS BANK PLC. DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED FIDELITY BANK PLC GUARANTY TRUST BANK PLC. SKYE BANK PLC STERLING BANK PLC. UNITED BANK FOR AFRICA PLC UNION BANK NIG.PLC. UNITY BANK PLC WEMA BANK PLC. Banking Totals Insurance Carriers, Brokers and Services AIICO INSURANCE PLC. CONTINENTAL REINSURANCE PLC CONSOLIDATED HALLMARK INSURANCE PLC LASACO ASSURANCE PLC. AXAMANSARD INSURANCE PLC N.E.M INSURANCE CO (NIG) PLC. UNITY KAPITAL ASSURANCE PLC WAPIC INSURANCE PLC Insurance Carriers, Brokers and Services Totals Micro-Finance Banks NPF MICROFINANCE BANK PLC Micro-Finance Banks Totals Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC CUSTODIAN AND ALLIED PLC FCMB GROUP PLC. STANBIC IBTC HOLDINGS PLC UNITED CAPITAL PLC Other Financial Institutions Totals FINANCIAL SERVICES Totals HEALTHCARE Pharmaceuticals FIDSON HEALTHCARE PLC

back of gains by Zenith and GTBank. In the same vein, the NSE Industrial Goods Index advanced 3.1 per cent lifted by gains recorded by Lafarge Africa Plc(2.8 per cent) and Dangote Cement ( 2.8 per cent).

The NSE Consumer Goods Index went up by 1. 6 per cent, while the NSE Insurance Index appreciated by 1.4 per cent, just as the NSE Oil and Gas Index grew by 0.4 per cent.

6 6 12

30.00 34.00

12,629 11,640 24,269

374,530.15 421,345.20 795,875.35

19 19 31

1.25

1,078,511 1,078,511 1,102,780

1,358,964.30 1,358,964.30 2,154,839.65

5 68 13 86 86

0.77 1.13 20.47

33,500 6,740,423 65,995 6,839,918 6,839,918

25,070.00 7,635,453.96 1,344,425.15 9,004,949.11 9,004,949.11

13 13

41.50

31,970 31,970

1,409,214.78 1,409,214.78

5 5 18

5.20

28,901 28,901 60,871

154,716.48 154,716.48 1,563,931.26

6 24 7 98 135

2.85 118.85 20.00 99.00

190,900 53,000 15,200 429,541 688,641

528,079.00 6,201,924.95 293,757.00 42,728,789.84 49,752,550.79

9 9

168.50

166,476 166,476

28,285,937.95 28,285,937.95

54 38 6 12 1 29 140

5.61 19.00 1.37 6.86 6.65 1.27

2,120,306 314,421 40,000 119,863 433 3,285,739,119 3,288,334,142

11,610,520.13 5,953,792.96 55,716.00 842,442.48 2,736.56 4,074,348,894.07 4,092,814,102.20

11 54 65

17.86 700.00

18,825 98,360 117,185

329,518.50 68,567,962.00 68,897,480.50

11 11

4.46

99,050 99,050

420,455.00 420,455.00

13 21 34 394

21.90 28.00

36,887 133,117 170,004 3,289,575,498

820,034.75 3,737,067.92 4,557,102.67 4,244,727,629.11

82 51 21 25 200 41 16 147 11 15 67 676

4.10 1.49 15.60 1.21 16.70 1.07 1.76 2.95 5.30 0.63 0.98

3,962,506 2,163,396 278,470 790,900 4,847,312 1,969,858 1,204,932 8,586,418 39,752 501,617 5,920,564 30,265,725

16,210,255.82 3,314,106.88 4,136,459.40 958,864.34 80,963,793.44 2,115,552.11 2,087,767.85 25,302,954.71 205,645.40 316,018.71 5,813,502.17 141,424,920.83

14 8 2 3 7 10 1 1 46

0.80 0.90 0.50 0.50 2.06 0.76 0.50 0.50

200,107 276,500 5,004,000 1,000,000 351,540 327,285 37,708,135 10 44,867,577

160,838.67 251,350.00 2,502,000.00 500,000.00 720,728.80 245,325.31 18,854,067.50 5.00 23,234,315.28

1 1

1.08

4,760 4,760

4,950.40 4,950.40

31 7 105 7 20 170 893

2.46 4.00 0.85 14.15 1.31

1,149,464 27,041 31,257,120 38,035 708,255 33,179,915 108,317,977

2,830,722.84 104,002.06 26,613,309.20 537,985.34 931,556.31 31,017,575.75 195,681,762.26

27

2.69

614,065

1,572,223.05

Analysts have said the new forex policy will attract inflow of foreign portfolio investments (FPIs).They also added that it would impact positively on corporate earnings of many companies. “We expect companies with U.S Dollar receivables to benefit from this development. Meanwhile, companies with Naira receivables but with dollar denominated financial obligations without any hedging

strategy in place will record exchange rate losses. Some of the companies operating in the power sector may fall into this category. They may require additional bailout very soon if they have to improve power generation and distribution in the country. In addition, the impact of this may be transferred to the banking sector in the form of increase in the non-performing loans.

E XC H A N G E

MAIN BOARD GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC Pharmaceuticals Totals HEALTHCARE Totals ICT IT Services TRIPPLE GEE AND COMPANY PLC. IT Services Totals ICT Totals INDUSTRIAL GOODS Building Materials ASHAKA CEM PLC BERGER PAINTS PLC CAP PLC CEMENT CO. OF NORTH.NIG. PLC PORTLAND PAINTS & PRODUCTS NIGERIA PLC LAFARGE AFRICA PLC. Building Materials Totals Electronic and Electrical Products CUTIX PLC. Electronic and Electrical Products Totals Packaging/Containers BETA GLASS CO PLC. Packaging/Containers Totals INDUSTRIAL GOODS Totals OIL AND GAS Energy Equipment and Services JAPAUL OIL & MARITIME SERVICES PLC Energy Equipment and Services Totals Integrated Oil and Gas Services OANDO PLC Integrated Oil and Gas Services Totals Petroleum and Petroleum Products Distributors CONOIL PLC ETERNA PLC. FORTE OIL PLC. MOBIL OIL NIG PLC. TOTAL NIGERIA PLC. Petroleum and Petroleum Products Distributors Totals Exploration and Production SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD Exploration and Production Totals OIL AND GAS Totals SERVICES Automobile/Auto Part Retailers R T BRISCOE PLC. Automobile/Auto Part Retailers Totals Courier/Freight/Delivery RED STAR EXPRESS PLC Courier/Freight/Delivery Totals Printing/Publishing LEARN AFRICA PLC Printing/Publishing Totals Transport-Related Services AIRLINE SERVICES AND LOGISTICS PLC NIGERIAN AVIATION HANDLING COMPANY PLC Transport-Related Services Totals Support and Logistics CAVERTON OFFSHORE SUPPORT GRP PLC Support and Logistics Totals SERVICES Totals EQTY Board Totals Daily Summary (Equities) Activity Summary on Board ASeM CONSUMER GOODS Food Products MCNICHOLS PLC Food Products Totals CONSUMER GOODS Totals ASeM Board Totals Daily Summary (Equities) Activity Summary on Board PREMIUM FINANCIAL SERVICES Banking ZENITH INTERNATIONAL BANK PLC Banking Totals Other Financial Institutions FBN HOLDINGS PLC Other Financial Institutions Totals FINANCIAL SERVICES Totals INDUSTRIAL GOODS Building Materials DANGOTE CEMENT PLC Building Materials Totals INDUSTRIAL GOODS Totals PREMIUM Board Totals Equity Activity Totals

DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

32 4 6 69 69

25.33 0.94 0.69

551,998 16,020 597,000 1,779,083 1,779,083

13,903,164.18 15,299.40 412,110.00 15,902,796.63 15,902,796.63

1 1 1

1.69

500 500 500

805.00 805.00 805.00

16 9 4 6 10 31 76

24.00 9.30 35.78 8.62 3.36 80.50

110,727 40,229 26,700 142,300 299,900 14,373,223 14,993,079

2,707,053.97 362,501.29 992,680.00 1,227,076.00 966,480.00 1,157,057,077.16 1,163,312,868.42

6 6

1.51

134,500 134,500

204,240.00 204,240.00

5 5 87

50.00

24,529 24,529 15,152,108

1,165,135.50 1,165,135.50 1,164,682,243.92

2 2

0.50

24,262 24,262

12,131.00 12,131.00

90 90

3.47

3,827,573 3,827,573

13,288,632.05 13,288,632.05

21 7 8 21 7 64

18.34 1.84 342.00 150.00 145.00

81,125 100,300 20,300 16,295 13,699 231,719

1,505,034.50 182,832.00 6,595,470.00 2,396,080.60 1,959,692.96 12,639,110.06

33 33 189

318.00

389,934 389,934 4,473,488

124,037,602.56 124,037,602.56 149,977,475.67

1 1

0.50

941 941

470.50 470.50

5 5

3.80

32,870 32,870

127,756.40 127,756.40

13 13

0.89

624,500 624,500

538,430.00 538,430.00

1 22 23

2.29 4.00

4,588 251,094 255,682

10,001.84 1,001,583.80 1,011,585.64

1 1 43 1,811

1.68

10,000 10,000 923,993 3,428,226,216

16,000.00 16,000.00 1,694,242.54 5,785,390,675.15

2 2 2 2

1.21

270,464 270,464 270,464 270,464

327,261.44 327,261.44 327,261.44 327,261.44

306 306

11.45

13,929,679 13,929,679

159,605,439.23 159,605,439.23

278 278 584

3.74

10,438,552 10,438,552 24,368,231

39,515,087.18 39,515,087.18 199,120,526.41

35 35 35 619 2,432

139.83

38,770 38,770 38,770 24,407,001 3,452,903,681

5,304,666.00 5,304,666.00 5,304,666.00 204,425,192.41 5,990,143,129.00

2 2 2 2 2 10 10 10

2,330.00 2.33 6.02 11.09 18.07

3,000 20 20 20 15 3,075 3,075 3,075

6,986,000.00 46.70 120.20 221.80 270.65 6,986,659.35 6,986,659.35 6,986,659.35

Daily Summary (ETP) Exchange Traded Fund Name NEWGOLD EXCHANGE TRADED FUND (ETF) VETIVA BANKING ETF VETIVA CONSUMER GOODS ETF VETIVA GRIFFIN 30 ETF VETIVA INDUSTRIAL ETF Exchange Traded Fund Totals ETF Board Totals ETP Activity Totals

47

WEDNESDAY, JUNE 22, 2016 • T H I S D AY

NEWSXTRA

Synagogue Church Has No Valid Building Permit, Says Ex-Commissioner Akinwale Akintunde A former Lagos State Commissioner for Physical Planning and Urban Development, Mr. Olutoyin Ayinde, yesterday told an Ikeja High Court that the auditorium of the Synagogue Church of

All Nations (SCOAN) does not have a valid building permit.

Ayinde, who is the second prosecution witness in the trial made this revelation before Justice Lateef Lawal-Akapo while being led in evidence

by Mrs. Idowu Alakija, the Director of Public Prosecution

FG Urged to Investigate Oil Spill in Abia Community Emmanuel Ugwu in Umuahia The federal government has been urged to investigate the spate of oil spills that have been occurring at oil laden Owaza community in Ukwa West Local Government Area of Abia State.

Already, the devastating effect of the oil spill has raised much concern in the community as fear has gripped the people following the deteriorating environmental problems in the area.

The traditional ruler of Igiriukwu Owaza, Eze Jonathan Onwugbufor Ezere, who raised the alarm while speaking with journalists at his palace, said his people were very much worried that none of the relevant government agency has intervened to stop the spill.

He lamented that the oil spill has rendered their land unsuitable for agricultural activities while water has been polluted made unfit for drinking and fishing activities as it could no longer support aquatic life.

According to the royal father, the agrarian community is now in danger of famine and diseases as farmers could no longer produce food while good drinking water is not available in the community.

Ezere specifically blamed the oil company operating at

Owaza for causing his people “untold hardship” through their oil exploration activities which have resulted to soil, water and environmental pollution. He said that they have been expecting adequate compensation from the oil companies to cushion the effects of their exploration activities.

He said: “No good road, no drinking water, and no provision of good amenities that could make life meaningful in the area. Yet we are the host that produces oil and gas with which the nation is developed.

We call on both federal and state governments to come to our aid and find a lasting solution to our problems.”

The Igiriukwu Owaza community said several letters had been written to the governor of Abia State through the Abia State Environmental Protection Agency (ASEPA) to prevail on the oil company to no avail.

He also called on the Nigerian gas company and the management of Shell Petroleum Development Company (SPDC) to create job opportunities and “give our sons and daughters permanent employment and not casual appointments as well as extend scholarship scheme to our children.”

Militancy: I will Only Mediate for a Credible Group, Says Ita-Giwa Former Presidential Adviser on National Assembly Matters, Senator Florence Ita-Giwa has reiterated her earlier stand that she will only consider mediating only with any credible group in the Niger Delta with the aim of ending the vandalism and restiveness in the area.

Ita-Giwa noted that she has no affiliation with any of the groups apart from being the leader of the Bakassi people under the aegis of the Bakassi General Assembly, a body collectively struggling to ensure the resettlement of my people.

In a statement signed in Lagos, Ita-Giwa added that inasmuch as she is interested in any moves aimed at restoring peace and developments in the region, she would consider serving if the federal government is willing to engage in discussions with credible Nigerians who have genuine interest and sympathy for the people of the region.

The statement read in part: My

position is still the same and that is the fact that I will accept to mediate for any credible group and it is important to note that I do not have affiliation with any of these groups apart from my position as the political leader of the Bakassi people struggling along with other Bakassi people to ensure proper resettlement of my people.

“Again, I will serve in order to put in place a lasting solution to the hostility, thereby bringing succour to the people of the region.

“I shall also be willing to be part of the dialogue for the benefit of the people of the region and by extension, the numerous displaced Bakassi indigenes who have been neglected over the years,” she said.

“As a major stakeholder and mother in the region and indeed Nigeria, I am willing to be party to any dialogue that will bring peace to the sufferings of the people of Niger Delta.

(DPP) in the ongoing trial of Trustees of SCOAN and the two engineers involved in the construction of the collapsed guesthouse, which led to the death of 116 persons, mostly South Africans on September 12, 2014.

The SCOAN Trustees, the two engineers, Messrs Oladele Ogundeji and Akinbela Fatiregun and their companies, Hardrock Construction and Engineering Company and Jandy Trust Limited were last month arraigned before Justice Lateef Lawal-Akapo on 111-count charge for their involvement in the collapsed building.

The 111-count charges preferred against the defendants by the Lagos State Government borders on criminal negligence, manslaughter and failure to obtain building permit.

Ayinde told the court that when the court collapsed on that Friday, he got in touch with the District Officer of the

Lagos State Physical Planning Permit Authority (LASPPPA) to confirm if the Synagogue Church had any building approval in the system.

“The Electronic Document Management System was searched and the only building approval for the church did not cover the site of the collapse building.

“The document, a five-storey building approval was meant for the church auditorium but as at the time of the collapse, the church auditorium had gone from five floors to eight floors.

“By the ministry’s definition, the approval the church had for the auditorium is no longer valid and there was no application for approval registered for the collapsed building.

“The Building Control Agency pasted their sticker on the auditorium which had surpassed the approved five-storey but there was no need for sanctions on the other building because it had already

collapsed, Ayinde said.”

Ayinde, a consultant urban planner and a fellow of the Institute of Town Planners Registration Council of Nigeria explained his role during his tenure as a commissioner during the administration of the former Lagos State governor Mr. Babatunde Fashola.

“As a commissioner, I occupied a supervisory role over the Ministry of Physical Planning and Urban Development and it’s three agencies.

“The three agencies are; the Lagos State Physical Planning Permit Authority (LASPPPA), Lagos State Building Control Agency (LASBCA) and the Lagos State Urban Renewal Agency (LASURA), he noted.”

The former commissioner said a building approval enabled owners of buildings to be adequately compensated when road construction or compulsory acquisition by the government takes place.

Ayinde told the court that on visiting the site of the collapse,

there were too many first responders at the scene.

“I visited the site two days after the collapse as I was attending a retreat outside Lagos when the incident occurred.

“With me were the General Managers of LASPPPA and LASBCA as well as the Commander of the Rapid Response Squad (RRS) as an advanced team to receive Fashola.

“The first thing we noticed were there were too many first responders, many of whom were church members whom we ordered out of the site because they were clogging the responsibilities of the rescuers.

“I gave a directive that the rescue work should stop at ground zero to enable the material testing laboratory to conduct tests on the foundation and columns on the debris”, he said.

Justice Lawal-Akapo however the matter till June 22 for continuation of trial.

GOOD TO HAVE YOU IN NIGERIA

Assistant Secretary, Africa Branch, Australian Government Department of Foriegn Affairs and Trade, Mr. Matthew E. K. Neuhaus (left), in a handshake with Vice President Yemi Osinbajo (SAN), during a courtesy visit. to the Office of the Vice President, at the Presidential Villa in Abuja...yesterday. With them is the Australian Ambassador to Nigeria, Paul Lehmann

Judge’s Absence Stalls Arraignment of Fani-Kayode, Two Others Davidson Iriekpen The absence of Justice Sule Hassan of the Federal High Court in Lagos yesterday stalled the arraignment of a former Minister of Aviation, Femi Fani-Kayode, for money laundering.

Fani-Kayode, who was also the Director of Media and Publicity of the Peoples Democratic Party (PDP) Presidential Campaign Organisation, is charged by the Economic and Financial Crimes Commission (EFCC), alongside three others.

Others charged are: Nenandi Usman, Danjuma Yusuf and a company, Joint

Trust Dimension Nig. Limited.

The EFCC had preferred a 17-count charge against the accused persons bordering on unlawful retention, use and payment of money to the tune of about N4.9 billion.

The case, which was fixed for arraignment of the accused persons yesterday, was stalled following the absence of the trial judge, who is said to be attending an official function.

The accused were however, present in the court, but had to be taken back to the EFCC’s custody, following the judge’s absence.

A new adjourned date, a new date, it was learnt, would be communicated to parties.

In the charge, the accused were alleged to have committed the offences between January and March 2015.

In counts one to seven, they were alleged to have unlawfully retained over N3.8 billion which they reasonably ought to have known formed part of the proceeds of an unlawful act of stealing and corruption.

In counts eight to 14, the accused were alleged to have unlawfully used over N970 million which they reasonably ought to have known formed part of an unlawful act of corruption.

Meanwhile in counts 15 to17

Fani-Kayode, together with one Olubode Oke who is said to now be at large, were alleged to have made cash payments of about N30 million, in excess of the amount allowed by law, without going through a financial institution.

Besides, Fani-Kayode was alleged to have made payments to one Paste Poster Co (PPC) of No 125 Lewis Street, Lagos, in excess of amounts allowed by law.

All offences were said to have contravened the provisions of sections 15 (3) (4), 16 (2) (b), and 16 (5) of the Money laundering (prohibition) (Amendment) Act, 2012.

WEDNESDAY, JUNE 22, 2016 • T H I S D AY

48

NEWSEXTRA

Court Grants Oronsaye Leave for Medical Check-up Abroad Alex Enumah inAbuja Justice Gabriel Kolawole of the Abuja Division of the Federal High Court yesterday granted former Head of Service (HoS), Stephen Oronsaye, who is currently standing trial for fraud and money laundering leave to travel abroad for routine medical check-up as well as the treatment

of an undisclosed ailment.

Justice Kolawole gave the permission while ruling on an application brought by counsel to the first defendant, Kola OkeayaInneh (SAN), which sought the release of the international passport of the 1st defendant to enable him travel abroad for medical attention.

Oronsaye and five others are facing an amended 35-count

Fayose: Mimiko Wants Buhari to Call EFCC to Order

Davidson Iriekpen

The Chairman of Peoples Democratic Party ‘s (PDP) Governors’ Forum and Governor of Ondo State, Dr. Olusegun Mimiko, has called on President Muhammadu Buhari to call the Economic and Financial Crimes Commission (EFCC) to order and immediately intervene to rescue the country from what he described as the current gross abuse of the constitution.

Reacting to the freezing of the Ekiti State Governor, Mr. Ayodele Fayose’s account by the EFCC, the governor, in a statement made available to journalists in Akure yesterday said the action of the anti graft agency has portrayed the nation as one in crisis.

Registering the danger in the decision of the EFCC to freeze Fayose’s account, Mimiko in statement yesterday, said the EFCC cannot interfere with the account of a sitting governor, adding that that would not find comfort with the position of Section 308 of the Nigerian Constitution.

According to him, if the intention is to suggest any criminal infraction or fraud against the governor, the agency should have sheath its sword until he vacates office.

“What has happened is a blatant and violent infraction on the provision of the constitution and our democracy.

“Its an attempt to subvert the constitution and it is fascist. The intention is to achieve a penal sanction without going through the due criminal procedure and criminal proceedings.”

Mimiko said the essence of Section 308 of the Constitution of the country is to save governors in the country from distractions, submitting that “what they have done now is to distract the Ekiti State Governor and this is not good for our democracy.”

Submitting that immunity is part of the constitution “which must be respected whether anybody likes it or not” the Governor’s Forum Chairman further mentioned that the EFCC action violates Section 96 of the 1999 Constitution as amended which confer on every individual right of fair hearing.

He warned that the country is beginning to manifest the signs of totalitarianism adding that the account of any individual could only be frozen after a court of competent jurisdiction as so ruled or an interim order by a court of competent jurisdiction is granted to the anti graft agency.

Nobody Can Seize My Property, Says Jimoh Ibrahim Chinedu Eze A businessman, Jimoh Ibrahim, has denied that any of his property was seized by the Asset Management Corporation of Nigeria (AMCON).

Seemingly fuming with rage, Ibrahim refuted the report that AMCON obtained interim order of injunction from the Federal High Court Lagos to seize his assets and described the claim as lies sold to the public by the agency.

“My attention has been directed to lies being spread around by an institution called AMCON over an interim order of injunction it had lied to collect before an innocent Federal High Court in Lagos.

“AMCON is aware that we keep a deposit of N86 billion or 172 million Pounds with Union Bank and AMCON is aware that application to collect the money from Union Bank is pending before the Ikeja High Court. All of these

facts, it has not disclosed to an innocent Federal High Court,” Ibrahim said in a statement he signed and made available to THISDAY yesterday.

He argued that AMCON deceived public to believe that they got judgment against him when there was nothing like that, observing that an interim order of any court lasts for 14 days.

He also alleged that AMCON was executing the interim order even when the judge had not signed the execution writ.

“We have since filed application to discharge the interim order. I am not in the category of people that AMCON or anybody can intimidate. It is laughable and a wide ambition to say anyone in Nigeria can seize my property! What a daydream!! We shall abide with the law and any interim order of court even when they are made in error as we are not far away from justice,” he said.

charge bordering on corruption, fraud and money laundering, proffered against them by the Economic and Financial Crimes Commission (EFCC).

The former HoS is being charged along with Osarenkhoe Afe, Fedrick Hamilton Global Services Limited, Cluster Logistic Limited, Kangolo Dynamic Cleaning Limited, and Drew Investment and Construction Company Limited.

At the resumed hearing yesterday, the court was supposed to commence hearing of a trialwithin-trial, occasioned by an objection by counsel to the 2nd defendant, Oluwole Aladedoye, who had opposed attempt by the prosecution to tender as exhibit the extra judicial statement of the 2nd defendant.

But Okeaya-Inneh, who stood in for the lead counsel to the defence, Kanu Agabi, who was not in court, drew Justice Kolawole’s attention to an application dated December

11, 2015, and filed same day, in which the 1st defendant is praying the court for the release of his international passport to enable him travel abroad for medical attention.

Counsel to the prosecution, Leke Atolagbe, though did not opposed the application, admitted a further affidavit to that effect which was recently served him.

However, Justice Kolawole, before ruling on the application, noted that the 1st defendant was granted bail on self-recognition and as such, the court would need something to rely on before the release of the applicant’s international passport.

Responding, Atolagbe suggested that the court varied the bail condition to allow Oronsaye bring surety before the court or that the court gave some other conditions.

But Okeaya-Inneh was quick to remind the court that three other senior advocates, Kanu Agabi, Joe

Agbi and himself, had earlier guaranteed the 1st defendant when he was admitted on bail and are willing to do so again even if it means “putting their career on the line.”

Kolawole, in his ruling, ordered that the international passport of the 1st defendant in the custody of the Deputy Chief Registrar (DCR) of Litigation be released to the lead counsel of the 1st defendant, adding that the 1st defendant takes advantage of the 2015/2016 summer recess which starts from July 12 to September 12, 2016, to attend to his medical needs.

The justice also advised the 1st defendant to get a certified copy of the proceedings that would allow him travel out, adding that Oronsaye, upon returning back to the country, must within 72 hours, return his international passport through his counsel.

At the commencement of the trial-within-trial, first prosecution witness (PW1), Roqayya Ibrahim,

an operative with the EFCC, gave details surrounding the circumstances under which the statement of the 2nd defendants was taken.

Ibrahim said the 2nd defendant’s statement was taken in an open office that had about seven other investigators doing their various jobs simultaneously.

According to her, she first met the 2nd defendant on February24, 2011, when he was invited to the EFCC’s office for interrogation. She disclosed that she was assigned by her superior, Mustapha Dadanya, to take the 2nd defendant’s statement.

She further said before the accused started his statement around 2.20p.m., which lasted to about 6p.m., there was a brief interaction between then where she he was informed of the commission’s discoveries and banks statement showing payments made into the accounts of the 2nd defendant.

CELEBRATING 10 REMARKABLE YEARS

L-R: Former Minister of Foreign Affairs, Mr. Odein Ajumogobia; Founder, TEEKY Magazine and TEEKY Group, Mrs. Doris Akpovwa; Publisher of The Abuja Inquirer, Dan Akpovwa; and Mrs. Nkoyo Tony-Rapu of This Present House, Lagos, during the TEEKY Magazine 10th anniversary in Lagos...recently

Don: Buhari Must Have Clear Economic Vision to Chart the Way Forward for Nigeria Ademola Babalola inIbadan A renowned Professor of Economics at the African Economic Research Consortium (AERC) and Managing Editor of the African Journal of Economic Policy, Professor Ademola Oyejide, has tasked President Muhammadu Buhari on the need to have a clear cut economic vision capable of driving Nigeria out of ‘recession’ currently bedeviling its growth and development in the comity of other economically viable nations.

Oyejide who spoke at the ‘Think Thank’ programme organised by the Ibadan School of Government and Public Policy (ISGPP) in Ibadan, also said for Buhari’s ‘Change agenda’ to achieve its envisaged goals, the administration must, as a matter of priority, embark on national re-orientation of the populace on tax payment

just as the citizens’ involvement in the budget implementation should be similarly stepped up.

Oyejide, an expert on monetary and international economics who served as Head of Department of Economics at the University of Ibadan between 1981 and 1985, spoke on a lecture entitled: ‘Getting the Budget and the Economic Fundamentals Right in in a Regime of Change.’

While noting that many of the internationally-mandated good budgeting practices and procedures are captured by Nigeria’s Fiscal Responsibility Act (FRA) of 2007, Oyejide lamented that the citizens’ expectations from the present government are yet to be met following the bureaucratic bottlenecks including ‘padding’ from some quarters, which greeted the preparation of the national budget.

He described budget as the primary instrument for the muchtouted change but remarked that “in making such promises, the assumption was that you already have facts and figures of the cost implications of the electoral promises, having raised people’s expectations.”

The don then stated that since the federal government has started working on the 2017 budget, with President Buhari promising to present it to the National Assembly in September, all hands should be on deck while a strong economic team comprising experts should also be incorporated, to produce an enduring, all-inclusive budget that would stand the test of time.

He said: “Budget is too important to be left to government alone as it plays a major role in helping government and the people to achieve their desires.

To this extent, therefore, there is the need for citizenship direct involvement in Budget preparation and implementation. Currently, people are not directly involved because most of the money involved do not comprise their tax. People don’t pay tax any longer except those concerned with PAYE. When you have a society where people don’t pay tax, do they have the right to question government? When we don’t pay for something, we least care for it.

“No country grows with the government taxing its citizens. It is part of the civic responsibilities of the citizenry. It is only then that you can question government.

In addition, the citizens must be engaged to guard against insecurity in the land. …We must therefore have a clear economic vision that will address our constraints.“

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WEDNESDAY, JUNE22, 2016 • T H I S D AY

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Court Reaffirms Order against NERC from Escrowing Disco Accounts Ejiofor Alike A Federal High Court sitting in Abuja yesterday restrained the

Nigerian Electricity Regulatory Commission (NERC) from implementing the agency’s March 2016 directive to the

Navy Raids Ogbe-Ijoh Community, Destroys Illegal Refinery

No payment by candidates for 2016 recruitment exercise SenatorIroegbu inAbuja The Nigerian Navy in its ongoing effort to maintain and sustain security in the nation’s maritime area, has raided Ogbe-Ijoh community in Delta State and arrested some vandals while also destroying illegal refinery.

The Director of Information (DINFO), Commodore Christian Ezekobe, stated this yesterday, saying that the Navy also recovered suspected vessels from the pirates.

“The Nigerian Navy has not rested on its oars. More pipeline vandals have been arrested, Nigerian Navy also have recovered suspected pirates vessel four months after pirates hijacked an oil tanker, MT Maximus, the navy has recovered the pirate vessel MT Dejikun used by suspected pirates,” Ezekobe said.

In another development, he said NNS DELTA carried out a raid within its area of responsibility.

He noted that “In the raid, which was carried out at OgbeIgoh community in Warri, Delta State, the Nigerian Navy team destroyed an illegal refinery site and one Cotonou boat containing about 50MT of stolen crude oil and 6 X 15, metal tanks containing illegal refined diesel.”

He however, remarked that “no suspect was apprehended as they fled the site before the arrival of the Nigerian Navy patrol team.”

In another development, Ezekobe denied the claims that candidates made payments for the ongoing 2016 recruitment exercise.

“The attention of the Nigerian Navy has been drawn to reports (not media report) which suggest that syndicates purportedly operating in the name of Nigerian Navy are defrauding prospective candidates by directing them to pay forty thousand naira (N40,000) for placement in the 2016 recruitment exercise,” he stated.

The naval spokesman said the reports available to the service suggest that the criminal elements are operating in various locations across the country.

In view of the above, he said, parents, guardians and candidates have sought confirmation from the Nigerian Navy on this disturbing criminal extortion by the syndicates.

Ezekobe said: “After a thorough investigation, the Nigerian Navy is requesting parents, guardians, candidates and the public to avoid being defrauded as nobody has been mandated, directed or authorised to collect money from any candidate in the course of the 2016 recruitment exercise.”

He stated the position of the Nigerian Navy, as directed by the federal government, that participation in the recruitment exercise remains free.

According to the DINFO, “no candidate is expected to make any form of payment for placement in the Nigerian Navy.”

However, he said the list of successful candidates which is being compiled, would soon be released to the general public through appropriate channels of communication.

Rotary Club of Lagos to Inaugurate Sasore as New President The Rotary Club of Lagos District 9110 will next week inaugurate Mrs. Modupe Sasore as the new president of the Club for the 2016/2017 Rotary Year.

The Chairman of the Public Relations Committee of the club, Ehi Braimah, in a statement made available yesterday, said the investiture will take place at the Metropolitan Club, Kofo Abayomi, Victoria Island, Lagos on Friday, July 1.

Sasore will be succeeding Larry Agose, after an eventful Rotary Year.

The statement quoted Sasore as saying that the Rotary Club of Lagos is the number one Rotary Club in District 9110 having been chattered in 1961.

She added that the Club has grown over the years with high quality professionals who have sustained it.

“I hope to sustain that tradition,” Sasore assured.

“Rotary is known for humanitarian work all over the world and the theme of the coming Rotary Year is ‘Rotary Serving Humanity’ and we hope to continue to serve humanity.”

She explained further that the major project for the Rotary Year would be in the area of education. Sasore added that the club has noticed a decline in reading culture hence, the club intends to partner with an Indian outfit, Janyaa Organisation, to commence a process for a pilot project called Lab-In-A-Box with the support of the Lagos State government.

Sasore, a seasoned legal practitioner and arbitrator who became a Rotarian eight years ago, was trained at the University of Lagos where she bagged bachelor’s degree.

She had her second degree in University of London and is married with kids.

Central Bank of Nigeria (CBN) to escrow the accounts of electricity distribution companies, who cannot meet their monthly payment obligations to the Nigeria Bulk Electricity Trading Plc (NBET).

After listening to the arguments of counsel to the Abuja Electricity Distribution Company Plc and four others, the presiding judge, Justice Okon Abang, held that “an order is hereby made in the interim but inter parties that pending the hearing and determination of the motion on notice, the defendants, their agents, servants, privies, etc. are hereby restrained from giving effect to the Escrow Directive dated March 2016 and the Escrow Guidelines.

“It is also ordered that the defendants shall not give any directive to banks, including the CBN to escrow the accounts of the plaintiffs in this matter pending the hearing of the motion on notice; and the plaintiffs are hereby commanded to endorse Form 48 and serve on the

defendants,” the court held.

The court adjourned the matter to 12 noon on June 28, 2016 for hearing of the motion on notice and advised counsel to exchange the necessary processes before the next date as it will not entertain any application for adjournment.

Justice Abang had earlier in the suit No. FHC/ABJ/ CS/386/2016, ordered that NERC and NBET be put on notice.

He had also directed that NERC and NBET must refrain from taking any action capable of frustrating the hearing of the Discos’ motion on notice for interlocutory injunctions, until the hearing of the motion on notice yesterday.

Two Senior Advocates of Nigeria (SANs), Professor Konyin Ajayi and Mr. Oluseye Opasanya led the applicants/ plaintiffs during the first hearing.

In a separate suit No. FHC/ ABJ/CS/387/2016 before Justice Ademola J of the Federal High Court of the FCT,

Abuja, which was instituted by the Enugu Electricity Distribution Company Plc and two others, the trial judge had on June 14, granted an injunction restraining NERC and connected persons from “(i) giving effect to the Escrow Directive and Guidelines; (ii) calling on the letters of credit placed by the Discos with NBET through certain commercial banks; and (iii) compelling the Discos to enter into any Promissory Note arrangement, pending the hearing and determination of the motion on notice.”

The eight Discos have argued that the federal government and NERC have reneged on government’s statutory obligation to the power sector and electricity consumers.

According to them, the Electric Power Sector Reform Act (EPSRA) in Part VIII obligates the federal government, through NERC to provide funds to subsidise indigent electricity consumers, who cannot pay electricity

bills.

“Such subsidy and other obligations of the federal government has not been satisfied, hence the difficulty in improving the power sector, as the Discos are unable to collect payments for electricity supplied, the price of which keeps rising, even though, there is no commensurate power generation to be distributed by the Discos,” the Discos argued.

The Discos also accused NERC of introducing unwholesome regulations and undue interference in the management of the business of the Discos in a manner that frustrates the efforts of the private investors.

According to the Discos, the electricity market has been badly managed by NERC, such that the Discos are not able to meet their obligations under the various industry contracts entered into with various counterparties to facilitate their activities in the power sector.

MAKING LAGOS A SMART CITY

Lagos State Governor, Mr. Akinwunmi Ambode (right behind), with Deputy Prime Minister, United Arab Emirates (UAE) and Chairman, Dubai Holdings, Mr. Ahmad Bin Byat (left behind), watching as the state Attorney General and Commissioner for Justice, Mr. Adeniji Kazeem (right), and Chief Executive Officer, SmartCity Dubai LLC, Mr. Jabber Bin Hafez, sign a Memorandum of Understanding (MoU) on SmartCity Lagos between the City of Dubai and Lagos State Government, at the Emirate Towers in Dubai...Monday

NUPENG Suspends Strike as Wike Intervenes to End Crisis Ernest Chinwo in Port Harcourt

Residents of Rivers and Bayelsa States yesterday heaved a sigh of relief as the Port Harcourt Zone of the National Union of Petroleum and Natural Gas Workers (NUPENG) announced the suspension of its two-week-old strike following the intervention of the Rivers State Government.

The Rivers and Bayelsa chapters of the union two weeks ago embarked on strike to protest against the sack of 100 of its members by two oil servicing companies in the states.

Long queues returned to filling stations in Port Harcourt and motorists were forced to pay up to N250 per litre of petrol at the few stations that had the product.

The acting Chairman Port Harcourt Zone of NUPENG, Mr. Charles Eleto, said at a news conference in Port Harcourt yesterday that they went on strike because of anti-labour practices of the two companies.

He said the union would meet with Rivers State Governor Nyesom Wike, to formalise the process and chart

the way forward.

“We, therefore, advise all members of the union to go back to work and thank the public for their patience and understanding during the strike,” he said.

Mr. Bassey Harry, National Industrial Relations Officer, NUPENG, commended the Rivers Government for intervening to end the strike.

He called on members to resume work and start loading immediately.

“We want to urge all the depots to allow only trucks

from Rivers to load products.

“Only those trucks from Rivers should load within 72 hours because of the suspension of the strike,” he said.

Rivers Commissioner for Energy and Natural Resources, Mr. Shedrack Ogbogu, said Wike decided to intervene to stop the misunderstanding between the union and oil servicing companies.

He called on all stakeholders in the crisis to attend a meeting convened by the governor to formally end the strike.

WEDNESDAY, JUNE 22, 2016 • T H I S D AY

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FG Plans Committee to Enhance Business Environment in Nigeria Crusoe Osagie The Federal Ministry of Industry, Trade and Investment has announced plans to launch a committee to push Nigeria up the ladder in the ease of doing business index, noting that this move by the present administration was to raise the country to one of the top 100 countries as against the currently ranked 169 out of 189 in the world.

The Minister, Industry, Trade and Investment, Dr. Okechukwu Enelamah, explained that the launch which would be done in few weeks time by the President Muhammadu Buhari, will be chaired by the Vice President, Federal Republic of Nigeria, Professor Yemi Osinbajo, to meet frequently with nine ministers and the Central Bank of Nigeria (CBN), Governor to provide steer coordination across ministry and debottleneck challenges hindering businesses in the country.

Enelamah, during a Deloitte C-Suite engagement in Lagos, also stated his plans to work closely with the private sector associations to implement the initiative.

The minister added that the nation’s industrial sector under performed when compared to other nations in the continent, maintaining that the federal government is working relentlessly to progressively increase industry’s contribution to the Gross Domestic Product (GDP).

He said the ministry has identified key pillars to ensure Nigeria achieves inclusive growth within the economy, diversified economic base with growing export revenues and a thriving business and investment environment by implementing the Nigeria Industrial Revolution Plan (NIRP), attracting proactive long-term local and foreign investment, championing Micro Small and Medium Enterprises (MSMEs) to create jobs and

achieve inclusive growth.

“We are also promoting the integration of Nigerian businesses into the regional and global value chain.” “We will use industrial parks, special economic zones to catalyse the implementation of the NIRP with the intention to increase contribution of the industry, reduce dependence on imports, create jobs and develop priority sectors to make Nigeria number one in Africa and top 10 globally,” he said.

According to him, 46 per cent of Nigeria’s population remains below the national poverty line despite a 10 fold increase in Gross National Income (GNI) per capita since 2000, calling for a collective and collaborative effort to address this challenge.

He pointed out that Nigeria still remains potentially attractive for Foreign Direct Investments (FDIs), saying a good combination of people and resources will help attract local and foreign investment to drive economic growth.

“The singular and most important move is to work with the private sectors to create an enabling environment for businesses to thrive and we will work with you to create that environment. We are very confident that Nigeria remains the right place for FDIs if the right fiscal and monetary policies are in place,” he said.

On trade, the minister said Nigeria had also under performed, stressing that the nation is not at its full potential doing global trade while adding that there are deliberate policies to engage exporters to boost export of the nation’s commodity at the global market.

He said the role of the private sector is critical in implementing the vision of the ministry, saying that the ministry is seeking ways to partner the Organised Private Sector (OPS) to achieve national interest and nation building.

Earlier, the Chief Executive Officer, Nigeria and West Africa Regional Leader, Mr.

Barkindo Confirms Talks with Militants, Rise in Crude Oil Exports The OPEC scribe also commended Kachikwu for deploying his persuasive skills while campaigning for his election.

On Kachikwu, Barkindo said: “I am extremely impressed with the way and manner he carried out this special assignment given to him by Mr. President.

“He has established himself in the OPEC circle within a very short period of time. He is highly respected. Being a lawyer I think also helped. He has very strong persuasive skills and he campaigned day and night.

“I just mentioned to Mr. President that you can’t have a better campaign manager than Dr. Ibe Kachukwu, who has turned himself to a real diplomat in addition to being a technocrat.

“So I think he should also be celebrated.”

Barkindo further disclosed that he would be the third Nigerian to occupy the position. According to

him, his predecessors were Michael Fidele and Rilwan Lukman, who are both late.

However, despite the improvement in crude oil exports, power generation has remained low due to the disruption of gas supply to power generating plants as a result of militant attacks.

While generation yesterday averaged 1,114MW nationwide, it was worse on Monday as Eko Electricity Distribution Company got 80MW, representing 5.8 per cent of total generation.

Yesterday, Eko Disco was allocated 122MW out of the 1,114MW on the grid.

But official data from the TCN showed that generation as at 6 am yesterday was 1,726.60MW. On Monday, the lowest generation was 1,344.4MW, according to the official report, while the peak generation was 2,095.9MW.

Fatai Folarin, said the Nigerian economy is in a journey that has not been experienced in decades, pointing out that as leaders in various

organisations, there is need for a collective responsibility engaging each other to seek innovative ideal on reviving the economy through trade

and investment.

He said trade and investment are critical to look at the investment opportunities, share ideas

towards economic growth, saying that going forward, Deloitte will be rebranding to meet the expectations of its clients.

ALL FOR PEACE

L-R: Director UFUK Dialogue Initiative, Kamil Kemanchi; Sarki Hausa-FCT, Alhaji Umaru Mohammed; Oba of Yoruba-FCT, Oba Olusegun Salau; Minister of Science and Technology, Dr, Ogbonnaya Onu; and (Eze Igbo of FCT, Eze, Nwosu Ibe, at the UFUK Dialogue and Peace awards in Abuja....recently

Niki Tobi: Nigeria Lost One of its Best, Say Dickson, Kalu Bayelsa State Governor, Mr. Henry Seriake Dickson, and former Governor of Abia State, Chief Orji Uzor Kalu, yesterday paid glowing tributes to the late retired Justice of the Supreme Court, Justice Niki Tobi, describing his death as a personal loss to him (Dickson), the government and people of the state as well as the entire Ijaw nation.

“In his demise, the Ijaw nation and indeed Nigeria have lost one of its very best and he will be painfully missed by all,” he said.

The governor in a condolence message to the family of the late jurist, the government and people of Delta State, said Justice Niki Tobi was “a thoroughbred, highly principled, upright and intelligent personality, whose contributions to the legal profession and nation building would remain indelible in the history of Nigeria.”

Dickson said he received the news of Justice Tobi’s death with shock, sadness and a great sense of loss.

As Chairman of the 2005 National Political Reforms Conference, under the administration of President Olusegun Obasanjo, Dickson said: “Justice Tobi gave exceptional and enviable leadership to arguably the best brains in the land in the process of recreating a nation we could all truly call our own.”

Justice Tobi, a native of Esanma in Bomadi Local

Government Area of Delta State, died on June 19, 2016, after a protracted illness at the age of 76 years.

Kalu described Tobi as an outstanding legal icon, who committed his career to the development of the Nigerian judicial system, adding that his demise is a painful loss not only to the judiciary but also to the nation at large.

According to the former governor, the late jurist, who was one-time Dean of the Faculty of Law and Deputy Vice Chancellor (Academic Services), University of Maiduguri, demonstrated professionalism, selflessness and forthrightness in his academic and legal endeavours.

In a statement signed by his Special Adviser, Kunle Oyewumi, Kalu, said: “Nigeria has lost a great personality. Justice Niki Tobi was a shining light in the judiciary.

“His intellectual capacity was of immense value to several verdicts of the Court of Appeal and Supreme Court where he served in different capacities.

“It is worthy to acknowledge the significant role played by Justice Tobi in the review of the draft 1999 Constitution under the regime of General Abdulsalam Abubakar.

“The good deeds of the late academician and legal luminary will remain evergreen in the minds of Nigerians..”

Eko Disco to Install Bulk Prepaid Meters in Military Barracks Ejiofor Alike

The Eko Electricity Distribution Company has disclosed that it is planning to install bulk prepaid meters in all military and other security agencies’ barracks within its operational territory.

The Managing Director and Chief Executive Officer of the company, Mr. Oladele Amoda, said in Lagos yesterday that the installation of the prepaid meters would totally eliminate every form of controversy regarding the accuracy of electricity bills in the barracks.

The company’s General Manager in charge of Corporate Communications, Mr. Godwin Idemudia, quoted Amoda as expressing displeasure over the harassment of his company’s staff performing their legitimate duties by military personnel.

Amoda said all the military formations within the company’s licence area were indebted to the company to the tune of N600 million with about 60 per cent of the debt being owed by the army, while about 30 per cent and 10 per cent of the debt profile are respectively shared by the Navy and Air Force.

He said molesting staff who were performing their lawful duties would not augur well for the promotion of militarycivil relations which the high echelon of the military has been canvassing in recent time.

Amoda noted that since the company pay for energy received from the grid, no segment of customers can be allowed not to pay as no

business can thrive when services rendered are not paid for by its patrons.

He then appealed all military formations and Ministry, Departments and Agencies (MDAs) to make payment of electricity bills a priority on the list of their proposed expenditure.

The Discos CEO expressed the hope that with the signing of the budget for the current financial year, many government establishments would offset their huge electricity bills.

Amoda further appealed to military personnel having either private or official quarters outside the barracks to pay for electricity consumed in such premises instead of tagging such premises as military zone and using that as an opportunity to harass and scare the company’s staff while on their official duties.

He disclosed that the company had to resort to disconnecting some military formations after all efforts to make them defray their huge debt to the company proved abortive, adding that the order to disconnect was only given after several letters and notices of intention to withdraw service were not responded to.

Amoda then assured all customers having complaints over their billing to lodge such complaints through any of the company’s channels of attending to customer’s complaints stressing that each complaint will be treated on its own merit with full regard for safeguarding the customer’s interest.

WEDNESDAY, JUNE 22, 2016 • T H I S D AY

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TCN Targets Additional N700m Revenue from Power Wheeling Charges NERC deplores rising attacks on Disco workers Chineme Okafor in Abuja The Transmission Company of Nigeria (TCN) has said it aimed at increasing the revenue it earns on electricity wheeling

charges by over N700 million within the next six months when it completes some ‘quick-win’ transmission projects in the country.

It also said it would

Rivers Recovers N2bn from Biometric Identification Exercise Culprits will be prosecuted, says Wike Ernest Chinwo in Port Harcourt Rivers State Governor, Nyesom Wike, has said the state has recovered about N2 billion through the biometric identification exercise embarked on by his administration.

He also said the state would conduct a forensic audit of the state salaries accounts after the biometric identification exercise to ensure transparency in that department.

Wike, who spoke yesterday when he granted audience to the leadership of the Rivers State Chapter of the Nigerian Medical Association (NMA), also said all those involved in defrauding the state of funds would be prosecuted accordingly.

He also announced that the state government would commence the rehabilitation of General Hospitals in the three senatorial districts of the state in two weeks’ time.

He said the first phase of the rehabilitation of the general hospitals would involve six hospitals.

He said the administration was committed to improving secondary health care for the people, adding that in the next

three years, 18 hospitals would have been rehabilitated.

Wike also said the state government would upgrade facilities at the Braithwaite Memorial Specialist Hospital, Port Harcourt to serve as a teaching hospital for the Rivers State University of Science and Technology.

He added that he would also reconstruct the Doctors Quarters at the tertiary health facility as well as complete the orthopaedic section of the hospital.

“In the next two weeks, we will start awarding contracts for the rehabilitation of General Hospitals. The rehabilitation will be done in phases. We will start with two per senatorial district,” he said.

He also stated that the state government would fund the training and retraining of resident doctors to improve their capacity to deliver quality services. He also promised to give attention to issues pertaining to the welfare of doctors.

Earlier, the Chairman of the Rivers State chapter of the NMA, Dr. Furo Green, commended the governor for his developmental strides and urged him to address key welfare issues affecting doctors in the state.

.... Gets New Commissioner of Police, Adebanjo Ernest Chinwo in Port Harcourt Mr. Foluso Adebanjo yesterday assumed duty as the 36th Rivers State Commissioner of Police.

A statement issued in Port Harcourt by the state Police Public Relations Officer, Ahmad Muhammad, said Adebanjo succeeded Musa Kimo, who has now been deployed to the Force Headquarters, Abuja.

Muhammad said: “The new Commissioner of Police joined the Nigeria Police in 1984 as Cadet Assistant Superintendent of Police and rose through the ranks to his present rank of Commissioner of Police in 2012.

He is a holder of bachelor and masters degrees in Criminology/ Criminal Justice Administration and Management obtained from the University of Central Oklahoma, United States of America. He is an alumnus of the elitist National Institute of Policy and Strategic Studies (NIPSS), Kuru, Jos. “He has served in various

capacities in the force; he was in the recent past the Commissioner of Police Explosive Ordinance Disposal (Anti-Bomb), Force Headquarters, Abuja and Commissioner of Police Edo State Command. He was until his present posting a Commissioner of Police, Force Headquarters, Abuja.”

He said Adebanjo has an impeccable track records in crime fighting and had attended various development courses both at home and abroad.

“While assuring the good people of Rivers State to remain confident and trusting in his ability to dutifully discharge the police constitutional mandate of ensuring public peace and security; the Commissioner of Police appeals for their cooperation, support and understanding to enable him put in place virile and sustained security architecture that will bring the crime level in the state to an appreciable level,” the statement said.

empower the country’s regions and increase their autonomy to undertake transmission responsibilities with some Key Performance Indicators (KPI) through which they can be monitored and held accountable.

A statement from the TCN yesterday in Abuja equally explained that the company was working to change its management practices as well as remove bottlenecks in its payment processes.

It said these decisions among others were taken at a oneday management retreat to brainstorm and strategise on the way forward for the company.

The retreat, it noted, discussed extensively on the company’s operations and how to ensure that it achieves specific short term goals.

“It critically analysed the company’s strengths, weaknesses and areas to be improved upon as well as opportunities available for improved service delivery,

sustained capacity development and stability in the nation’s transmission network,” the statement said.

It added that although the company has the capacity to wheel maximum power generated from the electricity generation companies (Gencos) to distribution companies (Discos), it would continue to work assiduously to further expand its grid capacity.

“Although the grid stability is presently impaired due to lack of adequate generation, TCN would continue to work at averting the collapse of the system.

“Three specific short term projects were identified as quick win projects that should be completed with the least amount of money and yet have maximum impact on the transmission network,” said the statement.

The statement added that: “These ‘quick-win’ projects

would be given highest priority attention in order to improve the network and increase return on investment.

“The projects include the installation of a 60MVA, 330/132/33kV power transformer at the Ife transmission substation.

Installation would be completed within three months, adding 48MW to the nation’s transmission capacity.

“Repair and installation of 60-No defective 33kv circuit breakers which would be completed within six months and on completion enhance the grid wheeling capacity with about 28,800 megawatt hour (MWH).

“Also, within a period of six months, critical and international 330kv lines are to be maintained to ensure system stability and revenue earnings. These projects when completed will increase TCN wheeling charges by over N700 million,” it said.

On the management change to be initiated in TCN, the

statement said: “Another important decision of the meeting was the urgent need to empower the regions, increase their autonomy and set Key Performance Indicators (KPI) through which they can be monitored and held accountable.

“A change in management process would also be instituted to address staff attitude to work, remove bottlenecks in TCNs payment process, identify and close skill gaps through staff training with emphasis on-the-job training.”

Meanwhile, the Nigerian Electricity Regulatory Commission (NERC) has appealed to electricity customers to stop attacking workers of Discos over issues of poor service delivery.

NERC asked consumers to rather explore its complaint and redress mechanism instead of resorting to such unpleasant acts in settling disagreement with officials of the Discos.

BUILDING DIPLOMATIC TIES

Yobe State Governor, Alhaji Ibrahim Gaidam (middle), in a handshake with the Canadian High Commissioner to Nigeria, Mr. Perry J. Calderwood, when the High Commissioner paid a courtesy visit to the governor at the Government House, Damaturu...yesterday. With them is the Head of Development Cooperation in the Canadian High Commission, Ms. Linda Ehrics

BoI: Our Row with EFCC over Alleged Cement Fund Abuse Has Been Settled Fund rises to N13.2bn, not misapplied

James Emejo in Abuja The Bank of Industry (BoI) yesterday said allegations over the misapplication of the cement funds which had prompted investigations by the Economic and Financial Crimes Commission (EFCC) had now been resolved.

The bank in a statement issued yesterday said parties to the transaction have now addressed the concerns raised.

It further explained that new terms had been reached on how to manage the funds which had grown from N9 billion in 2011 to N13.2 billion as at last week Friday.

BoI was appointed in 2009 to manage the fund that accrued

from levies on imported cement for the development of Nigeria’s cement industry.

According to the statement which was endorsed by the management of the development finance and made available to THISDAY, it stated that “As and when the funds were released since its inception, BoI granted loans to entrepreneurs in the cement value chain, specifically for investment in risk assets in the cement industry’s value-chain.

Between 2011 and 2015, the federal government transferred N9.6 billion to BoI based on earlier scheme as approved by the federal government.

“When the CTIN was later established, BoI was in 2013

asked to transfer the fund to CTIN’s account with a private commercial bank. A directive that was not carried out by the then management of the bank.

In late 2015 the CTIN petitioned the Presidency following which an investigative panel was established.”

It said: “However, BoI management had since resolved the matter amicably with CTIN since late February 2016 during which it was agreed that an interest rate of eight per cent should be applied to the fund retroactively to previous releases based on which the fund grew to N12.3 billion as at December 2015.

“The management of the bank had since February 2016 met and

agreed with the Chairman of the Board of CTIN and President of Dangote Group, Alhaji Aliko Dangote on further utilisation of the fund, based on agreement by the two parties-BoI and CTIN.” The statement added: “Going forward, effective from last Friday 17th February, 2016 BoI and CTIN agreed that the bank should invest the sum that has now risen to N13.3 billion in the money market on behalf of the institute at an interest rate of nine per cent.”

The bank, however, maintained that the fund was not misapplied as stated in the said petition as the bank had furnished EFCC with all documents relevant to the fund since its inception in 2009 and documentary evidences that

WEDNESDAY, JUNE 22, 2016 • T H I S D AY

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APC Appeal Panel Summons Masari, Others over Edo Guber Primary More protests trail Obaseki’s emergence

Onyebuchi Ezigbo in Abuja and Adibe Emenyonu in Benin City

The All Progressives Congress (APC) Appeal Panel for the Edo State governorship election primaries has said that it would invite all stakeholders involved in the just concluded primary election, including the Governor of Katsina State, Aminu Masari who chaired the election committee to clarify issues.

Addressing journalists yesterday at the APC national secretariat in Abuja, the Chairman of the Appeal Committee, Hon. Opayemi Bamidele, said he has so far received petitions from two APC governorship aspirants, Mr. Kenneth Imansuagbon and Chris Ogiemwonyi.

In their petition, both aspirants who addressed press conferences, tried rubbish the process adopted by the Masaricommittee and subsequently rejected the outcome of the governorship primaries.

Speaking on the content of the petitions, Bamidele said the two aspirants were complaining of perceived irregularities and about possible manipulation of the electoral processes.

“We confirmed as a committee that we have received two petitions and the National

Chairman of the party was also copied and the party has given us the go ahead and a freehand to conduct our sittings.

“What is important is that we will be inviting them to come and try to substantiate the allegation and to provide detail of the fact. We will also be inviting other relevant stakeholders. From the National Secretariat of the party and from all the other stakeholders who participated in the process of the primaries so that at the end of the day, we will be in position to write a balanced report,” he said.

Opayemi assured everyone that his panel will give them a free and fair hearing, adding that the panel had “also have gotten in touch with the two aspirants who sent in their petitions to explain the position you know and timing of our sitting and by the grace of God both of them would also be appearing before us tomorrow.

“And definitely, all issues raised in their petitions would be addressed, you know there is really nothing to be agitated about. You know, it is also normal for people to feel aggrieved and they should a process and the party made the arrangement for the process, you know for the appeal and they are availing themselves

Nigerian Turkish Nile University Medical Faculty Gets NUC Accreditation The National Universities Commission (NUC) has given approval to the Nigerian Turkish Nile University (NTNU) to admit students into its College of Medicine.

This was as a result of the recently concluded accreditation exercise carried out by the NUC. According to a statement made available to journalists, it stated that “after a recently conducted accreditation exercise carried out by the NUC on the facilities in the college of medicine at the Nigerian Turkish Nile University, the NUC has expressly given accreditation for the college of medicine to begin to admit students” The statement which was signed by the Dean of the College of Medicine, Prof Melih Erkan, also stated that “The university will be starting three new programs in September; they include microbiology, biochemistry, and medicine.”

Erkan further stated that getting accredited to start a college of medicine was indeed a dream come through for the management of the university after years of planning and investment in state-of-the art medical equipment and the recruitment of highly experienced professors and lecturers from Nigeria and Turkey.

“Our aim is to be the best in Africa. It took the university three years to put the college

of medicine in place in terms of equipment and staff.” He stated. He also added that the school has pegged the first set of intakes to 55 students.

“For a start, we are beginning with 55 students in medicine, biochemistry and microbiology and five per cent of all the students will be on full scholarship.

The reason being that the Nigerian Turkish Nile University places premium on quality of teaching and conducive learning environment,” he stated.

In a related development, the Vice Chancellor of the Nigerian Turkish Nile University, Professor Sert Huseyin has expressed appreciation to the National Universities Commission.

He stated that the management of the university would strive to continually improve its offering in line with best educational practices.

“We’re working for the future of Nigeria. In the next ten years, we are going to be one of the best universities in Africa, especially in theoretical and practical education.”

Nigerian Turkish Nile University was established in 2012 by a group of Turkish Investors under the First Surat Group of Companies to provide students with opportunities of quality university education that will bring out the best in them.

for that opportunity and we will also ensure that promptly that the issue are dealt with,” he said.

On whether the Masari-led Committee will be summoned in the course of the panel’s sitting, Opayemi said all relevant stakeholders would be contacted and would appear to shed more light.

“Well, definitely, these are issues of detail that we will also make available tomorrow as we commence our sitting. As you can see we have been here for

a while, we will also going to continue with our preliminary discussion.

“Some of the people that would appear, we have already contacted them and the ones that we need the support of the party to also get in touch with, we have discussed extensively with the National Organising Secretary of the party on behalf of the National Working Committee of the party and the party would also you know activate the machinery of trying to invite

everybody. Be rest assured that all relevant stakeholders would be contacted and would appear to shed more light,” he said.

More condemnation has continue to greet last Saturday’s Edo State governorship primary of the APC where Godwin Obaseki emerged as its standard bearer for the September 10 governorship election.

An aide to the state Governor, Adams Oshiomhole, Mrs. Evelyn Igbafe, who double as the Executive Director, Poverty

Alleviation and Women Mobilizer, called for immediate cancellation of the primaries in the interest of justice and fair play, saying what transpired at the primaries was a total charade.

Tasking APC leaders and members to emulate the PDP crisis-free primaries, which Pastor Ize -Iyamu emerged as the party’s candidate, she described APC governorship candidate as unsellable and a disaster waiting to consume the APC in the forthcoming election.

TOWARDS BETTER HOUSING FOR POLICE

L-R: Managing Director, Vertikal of Poland, Mr. Blazej Binienda; former Inspector General of Police, Mr. Solomon Arase; and Chief Executive Officer, CMB Building Maintenance and Investment Company Limited, Mr. Kelechukwu Mbagwu, during a visit of the newly formed CMB VERTIKAL to the former IG’s office in respect to the police housing scheme in Abuja....recently

Lagos, Dubai Sign MoU on Provision of 13,000 CCTVs, 4G Technology Agreement will attract $10 billion into Lagos economy Gboyega Akinsanmi The Lagos State Government and the City of Dubai yesterday signed a memorandum of understanding (MoU) which would, among others, lead to the deployment of 13,000 and unified communication systems.

The state Attorney-General and Commissioner for Justice, Mr. Adeniji Kazeem and the Chief Executive of Smart City Dubai LLC, Mr. Jabber Bin Hafez, signed the agreement at the Emirates Towers, Dubai yesterday.

The signing of the MoU, which would attract as much as $10 billion to the Lagos economy, was witnessed by the state Governor, Mr. Akinwunmi Ambode and Deputy Prime Minister of United Arab Emirates (UAE), Mr. Ahmad Bin Byat.

A document obtained from the state government, the Lagos SmartCity Project “is an initiative of the Ambode administration aimed at providing state-of-the art information and communication technology (ICT) infrastructure to deliver social amenities: security,

communication and collaboration.”

The document said the MoU was designed “to deploy 13,000 surveillance cameras across as well as provide a metro network to connect schools, hospitals, courts, police stations and other government facilities across the state.”

The document added that the MoU was sealed “to develop unified communication systems for first emergency responders; provide 4g lte technology, a standard wireless communication high-speed data for mobile phones and data terminals as well as deploy broad fibres across the state.”

But a statement issued by the Commissioner for Information and Strategy, Mr. Steve Ayorinde after the MoU was ratified yesterday said the SmartCity project “is a growing concept that draws from the success of Dubai’s innovative knowledge-based industry clusters to empower business growth for companies and knowledge workers all over the world.”

The statement, which dwelt on Ambode’s address after the

MoU became effective, said the project was expected “to bring multi-billion dollars investments to the State, create thousands of jobs and transform the Ibeju-Lekki axis in particular and the entire Lagos State in general.”

The governor explained the rationale behind the signing of the MoU, noting that it was a deliberate attempt by his administration to establish a strong convergence between technology, economic development and governance According to him, the MoU is between the state government and Dubai Holdings, LLC, owners of Smart City (Dubai) to develop a sustainable, smart, globally connected knowledge-based communities that drive knowledge economy Ambode said the collaboration “is part of the larger vision to make Lagos safer, cleaner and more prosperous. A Smart-City Lagos will be the pride of all Lagosians just as we have Smart City Dubai, Smart-City Malta and Smart-City Kochi (India).

“We are encouraged by the fact that we do not, as a government,

need to develop at a slow pace, but take full advantage of the digital age and fast track development of Lagos to a real megalopolis that we can all be proud of.

“The future is ours to take. It also marks first SmartCity in Africa when completed. Apart from creating jobs for the people, the project would also become the world’s first carbon neutral city. Lagos will become an important centre for innovation in smart technologies, wellness and destination for green tourism.”

But at a private meeting with the governor in September 2015, the company’s Head of Delegation, Prof. Pat Utomi provided the succinct profile of Smart City Dubai, which he said, was reputable globally for transforming a desert village to the world’s business hub in one generation.

He said SmartCity would significantly change the business climate in the state, noting that it had developed a business template, which would successively bring as much as $10billion into Lagos economy within a period of time.

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LCCI Seeks Increased Global Trade to Boost Economic Diversification Crusoe Osagie The Lagos Chamber of Commerce and Industry ( LCCI) has emphasised on the need to increase Nigeria’s participation in global trade, noting that this is the surest way to achieve the nation’s quest to achieve economic diversification.

The President, LCCI, Dr. Nike Akande, said the time to play an active role in international trade is now considering the recent development of the crash of crude oil price globally.

Akande, during the launch of RuNitrade, an e-commerce platform expected to provide opportunities for companies in Nigeria and Russia to directly communicate, negotiate and reach business deals using this

e-commerce platform said the Nigerian and Russian economies had similarities in some ways, adding that both economies were oil producing countries and also rich in natural gas, but stressed that the Russian economy is much bigger and more advanced technologically.

According to her, the level of trade between both countries is still very low, pointing out that with closer cooperation between the private sector of both economies, the level of trade can be improved.

“We can benefit a lot from Russian technology in many fields. There are also tremendous opportunities for cooperation and investment relations in infrastructure development, especially power

Peter Obi Lists Benefits of Flexible Exchange Rate Policy The former Governor of Anambra State, Mr. Peter Obi, has commended the new flexible exchange rate policy, describing it as a right step towards stabilising naira exchange rate.

Obi said this yesterday, during a brief chat with journalists at the Nnamdi Azikiwe International Airport, Abuja.

The former governor who said the flexible exchange rate policy actually came later than people (including him) expected, stated that it was however a good and appropriate policy decision that will go a long way in opening up more windows for additional inflow of foreign exchange into the country.

“The policy will have domino effect on the economy. It will encourage exporters of Nigerian products since they will now have better value for their exports. This, in effect, will propel them to expand their businesses thereby creating more jobs.

“Even manufacturers will have more and assured access to foreign exchange, which will naturally lead to increased output and more jobs. Even if more jobs are not created immediately, it will halt the

present loss of jobs Nigerians are experiencing,” Obi said.

When asked about its effect on government, Obi said it would actually have positive impact as the policy would lessen the pressure on government’s financial resources.

“By removing subsidy and implementing the new flexible forex policy, there will be increased FAAC funds available for sharing among the three tiers of government,” he added.

This, he submitted, would enable governments at all levels to meet their local currency obligations without recourse to additional bailouts and borrowings.

Obi further said with additional FAAC funds receipts to the three tiers of government and increased Internally generated revenue(IGR); some states would be getting between 300 and 500 percent increased revenue compared to their previous earnings.

He therefore advised that the state and federal governments should endeavour to save part of their increased revenue for the future, while those who are already saving should try to save more.

and engineering infrastructure,” she said.

In her words, “We are excited about our collaboration with the Russian business on the e-commerce platform that we are launching today. This will further boost trade and investment relations between both countries. There is great value in deploying technology to promote trade. Already e-comerce has gained wide acceptance in our retail trade sector.”

She said as a country, Nigeria has a lot to offer in business and economic relations, adding that the Nigerian economy offers the largest market on the African continent.

“Our Gross Domestic Product ( GDP) of over $500 billion is the largest in the continent, we are richly endowed in natural resources, our macroeconomic fundamentals are still strong despite the current global issues with commodity prices, we have one of the most enterprising population in the world and our democracy is stable for the

past 17 years,” she said.

She assured that the chamber would extend all necessary support to improve trade and investment relations between both countries.

“I believe there is a great deal of benefit in the promotion of trade relations between countries. It makes it possible for countries across the world to complement one another.

No country of the world has competitive advantage in everything,” she added.

Also speaking at the event, the President, Chamber of Commerce and Industry, Pskov, Russia, Mr. Vladimir Zubov, said a platform such as RUNITrade has been a long awaited and necessary tool, which the business community needs not only in Russia but also in other developing countries, adding that the project gives participants the opportunity to promote new products which serves as a bold step forward for trade development, investments and international relationships between both countries.

“We are ready to support B2BRuNiTrade project on its way to success. I have high hopes for this project and I believe that according to the recent events and agreements reached on political and economic issues, we will have possibility to organise more trade missions between our countries, this will help us to continue the development of mutually beneficial partnership and cooperation in the area of trade and investment.

The Managing Director, Trailtrans Logistics and RuNitrade, Mr. Uwem Sampson, said the volume of trade between Nigeria and Russia is a little above $300 million, saying that the volume is relatively low when compared to the GDP of both countries.

He said the e-trading platform is designed for Russian and Nigerian business communities enabling both to gain long lasting relationship for mutual benefits.

He noted that it is the first ever business to business e-commerce marketplace

particularly designed and developed in accordance to the Nigerian and Russian business requirements.

He said it would bring businesses from both countries on one platform where they will be able to buy and sell goods in a business friendly environment.

“It will also help to establish good perception, harmony as well as trust between Russian and Nigerian businesses.

He highlighted that the major benefit of this platform will provide a platform for companies in both countries to directly communicate, negotiate and reach a business deal using this e-commerce platform.

“Companies from both countries can use this platform as buyers or suppliers to buy and sell their products to each other. However, they may also sell their products all over the world. RuNitrade as a platform is a fast, secure and efficient trading solution acting as a gateway for export in a one window operation,” he said.

CORPORATE GOVERNANCE FORUM

L-R: Executive Vice Chairman/CEO, Nigerian Communications Commission (NCC), Prof. Umar Garba Danbata; Minister of Communications, Mr. Adebayo Shittu; Guest Speaker, Prof. Fabian Ajogwu (SAN), during a corprate governance forum review of the industry code by NCC in Lagos...yesterday KOLAWOLE ALLI

Activist Kicks against Appointment of New IG from the North

Terrorism: BAN Commends Nigerian Military, Calls on Militants to Dialogue

A Niger Delta activist, Comrade Sheriff Mulade, reacted angrily to the appointment of the new Acting Inspector General of Police (IG), Mr. Ibrahim Kpotun Idris by President Muhammadu Buhari, saying security apparatus has been compromised to favour a region of the country.

Mulade said the latest appointment was an indication that President Buhari is playing a northern script wondering why 95 per cent of security chiefs were from that region.

In its effort to boost the morale of the Nigerian military to overcome various crises beclouding the country presently, Brothers Across Nigeria (BAN) has called on all Nigerians to unite and support the military, as it commended the Nigerian armed forces for its attempt to prevent the daily bombings in Nigeria.

While speaking with journalists at the palace of Chief Emmanuel Okafor Ngwu, the traditional minister of Umunevo Ogui Nike community in Enugu State, BAN President, Chief

Sylvester Idowu in Warri

He congratulated the new acting IG on the appointment but insisted that there were more qualified officers from other regions that can occupy same position.

“It is not in the interest of the nation for all the security chiefs to come from a section of the country with diverse ethnic groups like Nigeria. Once that is compromised then the nation is doomed”, he added.

Mulade urged President Buhari to always reflect even representations in future appointments and make effort to correct the imbalance in the present composition of his aides.

Sunday Okobi

Charles Okonkwo, thanked the military authorities for the efforts it had so far put in the fight against terrorism in the country, adding that but for the indomitable Nigerian military, the country would have been overwhelmed by series of crises.

According to him, “We are happy that the days of everyday bombing of churches and mosques have been curbed to a reasonable extent. From recent events, it’s evident that the Nigerian armed forces have greatly limited the ability of terrorists to massacre people mostly in the North-east. The recent

sprinkle of attacks are just the spasmodic movement of a decapitated serpent, which would soon be over.”

Speaking further at the lunch of Support Our Troops Against Terrorists (SOTAT)) which took place in Enugu recently, the group’s Board of Trustees (BoT), Chairman and Coordinator of SOTAT also commended the ‘stick and carrots’ approach being used by the soldiers in tackling militancy in the Niger Delta region.

He called on the Niger Deltan militants to sheathe their swords and accept the call for dialogue put forward by the federal government,

adding that the wisdom of peace is higher than that of rancour.

On the overall mission of the social justice and non-profit organisation, its leader, Okonkwo, told journalists that: “Brothers Across Nigeria is a group that bonds men across tribes, tongues and religion into a cauldron of unity.

He disclosed that BAN would hold its next zonal conference in Uyo, the Akwa Ibom State capital, where it plans to pay courtesy call on military installations and traditional institutions as well as call upon Nigerians for patriotic duties to their beloved nation.

WEDNESDAY, JUNE 22, 2016 • T H I S D AY

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FG Urged to Investigate Oil Spill in Abia Community Emmanuel Ugwu in Umuahia The federal government has been urged to investigate the spate of oil spills that have been occurring at oil laden Owaza community in Ukwa West Local Government Area of Abia State.

Already, the devastating

effect of the oil spill has raised much concern in the community as fear has gripped the people following the deteriorating environmental problems in the area.

The traditional ruler of Igiriukwu Owaza, Eze Jonathan Onwugbufor Ezere, who raised the alarm while

DG PDP Governors’ Forum, Onaiwu, Resigns To pursue governorship ambition on APGA platform Adibe Emenyonu in Benin City Director General of the Peoples Democratic Party (PDP) Governors Forum, Osaro Onaiwu, has resigned from his position, disclosing that he will pursue his governorship ambition on the platform of the All Progressives Grand Alliance (APGA).

Onaiwu was one of the four governorship aspirants in the just concluded PDP primaries, but could not participate in the election because of his inability to purchase the party’s Expression of Interest form put initially at N16million before it was reduced to N13 million.

In a letter addressed to the Chairman of the PDP Governor’s Forum, Governor Olusegun Mimiko of Ondo State, which was made available to THISDAY in Benin City, Onaiwu explained that he took the decision in order to pursue his future ambition.

According to the terse letter,

“Unto every time, there is a season, and in line with this biblical truth, I wish to inform His Excellency of my resignation, effective from June 21, 2016, as the Director General of the PDP Governors’ Forum.

“I am persuaded to call it a quit in order to pursue my future endeavour in other capacity. During my years as DG of the Forum, I am consoled by the fact that my loyalty, competence and service was at no time in doubt, therefore will be leaving with gratitude. I wish to thank His Excellency and all his brother governors, past and present for their support during my term as DG and wish the Forum the best.

Onaiwu who confirmed his political future to journalists, said: “I am still in the governorship race in Edo State. You can see the leadership crisis in the PDP and that was why I did not purchase the nomination form the PDP platform. But I am going to fly the flag of the APGA in state.”

Babangida: I’ll Continue to Offer Advice to Govt Laleye Dipo in Minna Former military president, General Ibrahim Babangida (rtd), has vowed to continue to offer advice to both the state and federal governments to assist them in taking decisions that would benefit the country as a whole.

“I am ready and willing to continuously offer beneficial advice to the federal and state governments’ Babangida declared in Minna yesterday when he received the Chairman and members of the Niger State Working Committee of the Peoples Democratic Party (PDP).

The PDP state working committee led by the state Chairman of the party, Tanko Beji, had paid a felicitation visit to the former military president at his uphill residence over his return to the country after a medical treat abroad.

Babangida who was hale and hearty said he was committed to the Project Nigeria because “I have no other country that I can call my own.”

He therefore solicited the cooperation and support of all Nigerians to the governments at all levels, saying that “without our support the governments cannot achieve their plans for the states and the nation.”

The former military ruler expressed gratitude to the delegation for finding time to visit him and assured them that he would always be available for them when called upon.

Earlier, the leader of the delegation, Beji, said they were satisfied with the state of health of the former military president and prayed that God will continue to strengthen him

speaking with journalists at his palace, said his people were very much worried that none of the relevant government agency has intervened to stop the spill.

He lamented that the oil spill has rendered their land unsuitable for agricultural activities while water has been polluted made unfit for drinking and fishing activities as it could no longer support aquatic life.

According to the royal father, the agrarian community is now in danger of famine and diseases as farmers could no longer produce food while good drinking water

is not available in the community.

Ezere specifically blamed the oil company operating at Owaza for causing his people “untold hardship” through their oil exploration activities which have resulted to soil, water and environmental pollution.

He said that they have been expecting adequate compensation from the oil companies to cushion the effects of their exploration activities.

He said: “No good road, no drinking water, and no provision of good amenities that could make

life meaningful in the area. Yet we are the host that produces oil and gas with which the nation is developed. We call on both federal and state governments to come to our aid and find a lasting solution to our problems.”

The Igiriukwu Owaza community said several letters had been written to the governor of Abia State through the Abia State Environmental Protection Agency (ASEPA) to prevail on the oil company to no avail.

He also called on the Nigerian gas company and the management of Shell

Petroleum Development Company (SPDC) to create job opportunities and “give our sons and daughters permanent employment and not casual appointments as well as extend scholarship scheme to our children.”

Eze Ezere noted that despite the deprivations that Owaza community has been suffering, it has remained peaceful and has in no way tampered with oil pipelines in the area.

He called on security agencies to be more proactive in their surveillance so as to arrest pipeline vandals whom he alleged come from towns in neighbouring states.

WOMEN IN NATIONAL DEVELOPMENT

L-R: Former Permanent Secretary, Federal Ministry of Women Affairs, Elizabeth Emuren; Chairperson, Society of Women Accountants of Nigeria (SWAN), Mrs. Katchy Patience; and a representative of the Institute of Chartered Accountants of Nigeria (ICAN), Mr. Yusuf Adamu, at a two-day seminar with theme: ‘The role of women in national development, in Abuja ...yesterday

PDP: Mass Student Failure, Proof of Aregbesola’s Own Failure Yinka Kolawole in Osogbo The Osun State chapter of the Peoples Democratic Party (PDP) yesterday described the recent placing of the state on the 29th position on the performance chart of students who sat for the last Senior Secondary Schools Certificate Examinations conducted by the West African Examinations Council as a further proof that the state governor, Mr. Rauf Aregbesola has been a failure in leadership and has become more of a reproach than a blessing to the state.

The party in a statement signed by its state Publicity Secretary, Mr. Sunday Bisi and made available to THISDAY, said it was quite unfortunate that a state which had always been among the first 15 states on the WAEC ranking will suddenly nose dive into the 22nd position in 2014 and now 29th just six years after

Aregbesola came into office as governor!

According to Bisi: “It is particularly worrisome that less than 19 per cent of students who sat for the SSCE exams in 2015 had five credits and above and those students were mostly from private secondary schools. Worse still is the embarrassing fact that Osun is now grouped with states like Yobe, Zamfara, Gombe, Sokoto and a few others which had always been categorised as ‘educationally disadvantaged state’ in the last 35 years and had looked up to the Southwest for leadership in the educational sector” The PDP in Osun state noted that a state which produced the first indigenous Nigerian lawyer and Queens Counsel in person of the late Sapara Williams, the late Cicero of Esa Oke, Chief Bola Ige and has consistently produced some of the brightest minds

in the political, economic, legal and social spheres has been so debased by the obvious lack of vision and uncoordinated style of the APC administration which rode to power claiming to be a disciples of the late sage, Chief Obafemi Awolowo, whose legacies in the educational sector remains unparalleled.

While noting that the Aregbesola administration has squandered a great deal of scarce resources on deceptive, unsustainable and corruptionridden programmes such as the Opon Imo tablets, school mergers, single uniform and the likes, it has failed to invest in improving the quality and welfare of teachers, discipline among pupils and provision of libraries, laboratories and other essential input which are the essential ingredients of quality education.

The party added that “The free school feeding programme

which Aregbesola inherited from the PDP administration has become a conduit pipe for corruption and personal aggrandizement rather than a tool to increase pupil enrolment and involvement in learning which the Oyinlola administration used it to accomplish in 7 years.

The provision of free text books which the PDP initiated in 2005 and sustained for 5 and a half years have also been stopped while the states tertiary institutions now groan for lack of tools to train our future leaders.

It is thus imperative that we call on major stakeholders in the Osun project to rise up and salvage our future by calling Mr. Rauf Aregbesola to account on this very critical sector.

The party called on Osun indigenes home and abroad to rise above partisanship at a time like this in order to salvage what is remaining of our educational legacies.

WEDNESDAY JUNE 22, 2016 • T H I S D AY

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CRIME&PUNISHMENT

EFCC to Call Last Witness in Trial of Ex-NIMASA DG, Others A Federal High Court in Lagos yesterday held that statements made by two former staffs of the Nigerian Maritime Administration and Safety Agency (NIMASA), Captain Ezekiel Agaba and Ekene Nwakuche, were made voluntarily.

The court reached the decision while ruling on a trial-withintrial conducted to ascertain the willingness of the statements made by the accused.

Agaba (second accused) and Nwakuche (third accused) are charged with a former Director General of NIMASA, Patrick Akpobolokemi, over N2.6 billion theft.

Also charged are: Governor Juan, as well as Blockz and Stonz Ltd, Kenzo Logistics Ltd and Al-Kenzo Logistic Ltd. EFCC charged them with converting N2.6billion between December 2013 and May 2015.

They had all pleaded not guilty to the charges.

However, counsel to Agaba and Nwakuche, Mr. Edoka Onyeke and Mr. Lanre Olayinka, had both raised objection to the trial of their clients, on the grounds that their statements were not volunteered to the EFCC. This objection, compelled the presiding judge, Justice Ibrahim Buba, to order a trial-within-trial, to test the willingness of their statements.

When the case was called yesterday, Nwakuche told the court that he was never allowed access to his lawyer, while his statements were being obtained at the EFCC. He maintained that he repeatedly requested to see his lawyer, but his request was bluntly refused by officers at the commission, who ordered him to write his statement.

According to him, one Orji Chukwuma, an investigating officer at the commission, tutored him on how to go about his statement.

On whether his statement was obtained in the presence of a lawyer, a member of the legal aid, or a justice of the peace, Nwakuche maintained that non of the afore mentioned, were present at the material time his statement was obtained.

On whether any electronic means was adopted in recording his statement, Nwakuche replied; No, and added “I was even asked to remove my shiny wrist band, on suspicions that it was a recording device” Under cross-examination by the prosecution led by Mr. Rotimi Oyedepo, Nwakuche however, admitted that he was severally cautioned before his statements were obtained.

He also admitted restraining his lawyer from coming to the EFCC, but added that it was due to the fact that his lawyer will no be allowed access to him.

On whether he made any formal complaint of the situation to the chairman of the EFCC, or the deputy director of operations, he replied No, but added that he was discouraged from filing any report, on the grounds that such report will “not see the light of day” After his evidence, the trial judge then called on counsels to the prosecution and defence, to address the court before he delivers his ruling on the trial-within-trial.

Counsel to the second and third accused, Edoka and Olayinka, informed the court that they were not prepared to take their addresses, since they had not anticipated same would be taken today.

In Brief

Police Nabs Four Suspects for Stealing Saraki’s Money Kwara State police command has nabbed four suspects including two policemen for allegedly stealing huge sums of money at the Ilofa GRA, Ilorin residence of senate president, Senator Bukola Saraki. Shortly before the incident occurred, Saraki visited Ilorin and after his departure, some people believed to be his aides broke into one of the rooms and stole huge sum of money.

Since then, men of the state police command swung into action in order to unravel those allegedly behind the act.

The Kwara State government was quick to deny that it gave the said money to the senate president as alleged by an online newspaper in it’s facebook account.

THISDAY checks revealed that men of the state police command at the state criminal investigation bureau through their full investigation were able to arrest four suspects in connection with the stealing.

It was also learnt that the installation of closed circuit camera at the senate president residence aided in fishing out of the suspects as the camera openly showed them while they were perpetrating the act.

Sources close to the police command told journalists in Ilorin that the affected suspects were now being detained at the state criminal investigation bureau at the state headquarters, Ahmadu Bello way, Ilorin for further interrogation.

Sources said the suspects comprise of two policemen, one Nigeria Security Civil Defence Corps(NSCDC) officer and a driver.

It was further learnt that the suspects should have been arraigned before the state high court on Monday but the men of the state police command were yet to complete their final investigations of the affected suspects.

When contacted on the development yesterday, the state police command Public Relations Officer (PPRO) Mr. Ajayi Okansanmi, said: “ I am not officially briefed on the arrest of four persons in connection with the stealing of the money at the Ilorin residence of senate president, Senator Bukola Saraki.”

Sexual Offences: Lagos Trains Magistrates on Effective Implementation of Criminal Justice Law

BETTER LIFE FOR JOURNALISTS

L-R: Chairman, Primewater View Holding Limited, Prince Adetunji Ogunwusi; Chairman, Nigeria Union of Journalists, Lagos Council, Mr. Deji Elumoye; Group Managing Director/CEO, Primewaterview Holdings Limited, Mrs. Morola Babalola; and National President, Nigeria Association of Women’s Journalists (NAWOJ), Mrs. Morola Ifeyinwa, during the signing of a Memorandum of Understanding (MoU.) between NUJ/NAWOJ and Primewaterview Holding Limited on Pen Estate at NUJ Secretariat, Ikeja, Lagos....yesterday

NDLEA Arrests 8,778 Suspects, Seizes 903,624kg of Narcotics The National Drug Law Enforcement Agency (NDLEA), yesterday said it recently arrested 8,778 suspected drug traffickers, as well as seized 903,624.56 kilograms of narcotics from both sellers and dealers.

A further breakdown of the statistics of arrested suspects by the NDLEA Chairman, Col Muhammad Abdallah (rtd), who made this disclosure, revealed that while 8,143 were male, 635 others were female.

Abdallah said this at the briefing to commemorate the International Day Against Drug Abuse and Illicit Trafficking which is billed to be hold on Monday, June 25.

He gave the breakdown of seized drugs as follows; cannabis 871,480.32kg, psychotropic substances 30,652.93kg, ephedrine 785.10kg, methamphetamine 410.82kg, cocaine 260.47kg, heroin 30.09kg and amphetamine 4.83kg.

The NDLEA boss who said that the World Drug Day is for self-appraisal on how the country has suppressed illicit production and trade in narcotic drugs, said the agency has also won 1,690 cases prosecuted in 2015.

On the theme of the 2016 campaign ‘Listen First’, he said, “This theme focuses on drug abuse prevention and places a responsibility on parents, guardians, opinion leaders and stakeholders to listen to the views of persons with drug abuse problem with a view to helping them overcome drug use.

“Substance abuse is an equal opportunity ailment with medically certified preventive and treatment solutions.

This theme is a timely caution for persons who may be provoked by the involvement of their loved ones in drug abuse into treating them harshly and unconventionally.

“Lets listen to them and share in their pain as we take necessary steps in drug abuse counselling, treatment and rehabilitation.”

On the recently introduced drug support group called The Drug Anonymous Support Group he said this was for people who were dependent on the drug and want to be in remission.

“This is for people who are trying to remain in remission from drug dependency and use but need peer support assistance and encouragement to cope with the everyday pressures associated with illicit drug use.

“This affords them a platform of continuous help without fear of inhibition as this group provides a safe environment where their individual challenges and problems can be discussed and addressed.

“The week-long programme of event has been streamlined for greater impact to include a

sensitisation road walk, campaign in mosques on Friday and in churches on Sunday. The grand finale which is Sunday, June 26 has been shifted to Monday, June 27,” he said.

Abdallah said notwithstanding the numerous challenges, Nigeria is championing the war against illicit drugs and will sustain the lead ahead of drug syndicates.

He said: “Let me reassure members of the public that the agency shall continue to intensify its intelligence gathering and management machinery. We shall unmask more faces behind the obnoxious drug trade and prosecute them.

“Our advocacy and sensitisation programmes shall also be expanded.

We are doing everything to secure the future of our great country from the wicked clutches of drug trafficking and abuse.

In a bid to ensure effective administration of the Criminal Justice Law 2011 especially as it relates to sexual offences, the Lagos State Government has began a workshop to ensure uniformity among magistrates in the implementation of the provisions of the law.

Speaking at the commencement of the workshop organised by the state Ministry of Justice and the Judiciary in partnership with the Legal Defence Assistance Project (LEDAP), Chief Judge of Lagos State Hon. Justice Olufumilayo Atilade said that the law was an innovation geared towards enhancing the administration of Criminal Justice in the state.

Atilade, who was represented by the Chief Registrar of the High Court, Mr Emmanuel Ogundare, called for better synergy among stakeholders in the Justice Sector Agencies, while deliberating on issues bordering on the interpretation of the Law, with particular reference to sexual offence cases.

According to her, sexual offences have become rampant in the society, adding that the method and procedure for handling the prosecution of these offences must be appraised critically. She urged all participants to look critically at those sections of the Law in order to ensure uniformity in its implementation.

She expressed optimism that the workshop would go a long way to ensure uniformity amongst Magistrates in the implementation of the provisions of the Law. Speaking in the same vein, the Attorney-General and Commissioner for Justice, Mr. Adeniji Kazeem, said the training will provide the participants with on-going discourse and serve as a forum for consensus among the Magistrates on the relevant sections of the Law. He said, “The Magistracy, being an integral part of our judicial system must assist in the pursuit of justice for victims of crimes, defendants and of course the larger society through the full implementation of the procedural law.”

Kazeem emphasised that with the continuous partnership with the judiciary and other relevant stakeholders, the delivery of justice in the state will be seen to have complied substantially with international best practices.

The Attorney General, who was represented by State’s Solicitor General, Mrs. Funlola Odunlami, gave an assurance of continuous collaboration and support from this administration as emphasized by the Lagos State Governor, Mr. Akinwunmi Ambode to make Lagos a peaceful and secure place to live and do business, by having an effective Criminal Justice Administration.

WEDNES DAY, JUNE 22, 2015 • T H I S D AY

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NEWSEXTRA

NLC Carpets N’Assembly over Life Pension for Its Principal Officers Calls for outlaw of criminal pensions for ex-governors

Paul Obi in Abuja The Nigerian Labour Congress (NLC) yesterday took a swipe at the National Assembly over its planned extension of life time pension currently being enjoyed by the executives and judiciary to the Senate President, Deputy Senate President, Speaker of the House of Representatives and the Deputy Speaker.

NLC President, Comrade Ayuba Wabba, in a statement said such attempt to bestow National Assembly principle officers with life pension was disingenuous and amounted to greed of the highest order.

According to Wabba, “At a two-day retreat on Constitution Review in Lagos by the Senate Ad hoc Committee on Constitution Review, some presiding members of the Senate proposed an amendment to the constitution which will entitle the Senate President and his Deputy, the Speaker of the House of Representatives and his Deputy to life-time pension.

“Those in support of the proposal including the Deputy Senate, Mr. Ike Ekweremadu, argue that the executive and the judiciary enjoy this privilege, so why not the legislature.

“They similarly argue that: “Governors who spend just four years, enjoy it. So, presiding officers should enjoy it too…

Let us stand by our leaders.

They should enjoy this benefit.

They act on behalf of us… They are equal to the executive and

judiciary and should therefore enjoy the same benefit.”

“However, the more discerning members like Senators Ali Ndume (Majority Leader), Godswill Akpabio (Minority Leader) and Oluremi Tinubu reportedly opposed the proposed amendment on the following grounds:- NLC argued that the plan was merely to extend “excessive privileges for Senate President and House Speaker and their deputies are neither desirable nor necessary.

“Senate President/House Speaker are elected by members and not the public, unlike the president and governors and their deputies; the privileges already enjoyed by the leadership of the two chambers are enormous.

“Unlike the leadership of the executive, the leadership of the legislature has no tenure limitation.

“We at the NLC would want to go on record as having opposed the idea of putting the President and Speaker of the House of Representatives and their deputies on life pension.”

The NLC President said: “We have quoted copiously from the arguments for life pension in order to expose the ludicrousness and vanity of their logic. We are convinced, nothing but ego and greed are the over-riding interest for wanting to put the leadership of the legislature on life pension.

“What the governors have done is unrealistic and immoral and rather than ensure the right thing is done, some senators

Troops Clear Armed Bandits out of Maru LGA in Borno Senator Iroegbu in Abuja The troops of the 1 Division in conjunction with other security agencies have recorded some progress in their ongoing efforts to clear cattle rustlers, armed bandits and kidnappers in the North-west geopolitical zone.

To this end, the troops of 223 Battalion, 1 Brigade, Nigerian Army embarked on a patrol to Maru Local Government Area (LGA) of Zamfara State, where it routed some rustlers in the area.

The Director of Army Public Relations (DAPR), Col. Sani Usman, in a statement yesterday, said the military killed nine of the bandits who have been responsible in wrecking havoc in several communities in the state.

“During the patrol, the team encountered and engaged notorious armed bandits that have been wrecking havoc on the communities.

“The troops killed nine of them, while a

few escaped with gun shot wounds,” Usman stated.

He listed the items recovered by the team to include three AK-47 rifles, four AK-47 rifle magazines, five rounds of 7.62mm (Special) ammunition, a machete and 24 motorcycles after a thorough combing of the general area.

In a related development and in a sheer act of bravery, Usman said, local vigilantes at ‘Yargada village, Gusau Local Government Area apprehended another armed bandit.

“Buoyed by this success, the troops morale is very high and are determined to continue to enhance the general security of their respective areas of operation through patrols, raids and clearance operations,” he noted.

He also solicited for more cooperation and support from the public for the military to successfully carry out their duties.

have elected to set-up for themselves a model that is at once bad, immoral, illegal and unsustainable.

He added that “the concept of pension derives from 35 years of meritorious service. However, politicians in time, subverted this time-honoured practice by awarding themselves generous severance packages after four years in office. These packages not only make a mockery of what public servants take, the beneficiaries are paid up front while the average public service pensioner dies on the verification queue!.

“The height of this infamy

and greed was when exiting governors literally coerced or seduced state Houses of Assembly into writing into “Law” their severance packages which take a sizeable percentage of the state’s budget.

“We at the congress believe that politics is about servicedelivery and not robbery.

Senators should therefore get their priorities right, whip themselves into line and perform the tasks for which they are elected. These tasks as defined by the constitution are law-making, over-sight and investigation.

There are issues in the

Constitution begging for attention such as devolution of power, autonomy for local governments etc. These are amendments that will not only bring government closer to the people but will unleash the potentials of local government councils.

“We also expect the Senate to outlaw the criminal pensions for ex-governors and any other undeserving retiree through an amendment of the Constitution.

“Similarly, Nigerians have consistently expressed their desire to have removed from the Constitution absolute immunity clause for the president and governors and their deputies.

Rather than heed to their demand, Senators are more interested in feathering their nests or how they can over-shine the executive and their judiciary in perks and perquisites.”

NLC observed that “in their blind quest, they completely forgot that for any member of the judiciary to qualify for life pension, he or she must have spent a minimum of 35 years in service.

“The Senate is advised to be focused instead of indulging in self-serving frivolities. Anything to the contrary will draw the wrath of the people,” Wabba stated.

SEEKING COLLABRATION

L-R: Minister of State for Education, Prof. Anthony Anwukah; former Egyptian Minister of National Population, Amba Mushira Khattab; and Egyptian Ambassador to Nigeria, Ambassador Nehad Abdullatif, during a courtesy call on the minister in his office in Abuja....yesterday

‘US Exchange Programme Started So Humanity Could Recover from World War II’

Conducts orientation for Nigerian participants

Chiemelie Ezeobi The United States Consul General, F. John Bray, yesterday said educational and professional exchange programmes were started 75 years ago to figure out how humanity could recover from the effects of World War II. Bray said this during the 2016 pre-departure orientation for Nigerian exchange participants in the most prestigious educational and professional exchange programs sponsored by the US government held in Lagos.

The statement from the consular said the participants undertook orientation on health, and safety, and how to be successful as a US exchange programme participant.

The statement read: “Last year, we celebrated the 75thanniversary of the first exchange programs that the

United State government attempted. We have learned a lot since about how to design a fantastic experience.

“We started such programmes, trying to figure out how humanity could recover from World War II. But there has been one immutable lesson we have taken away from organising bilateral exchanges during and after the Cold War. “As President Dwight Eisenhower said when he was advocating people-to-people programs in 1956: “If we are going to take advantage of the assumption that all people want peace, then the problem is for people to get together and to leap governments—if necessary to evade governments—to work out not one method but thousands of methods by which people can gradually learn a little bit more of each other.

“Over these 75 years we have

had hundreds of Nobel Prize winners, legislators, governors, ministers, heads of government, and heads of state grow in their careers and emerge as leaders with these titles after they had their immersion experience in a US exchange programme.

“You are a truly impressive group. You are about to attend the leading, most prestigious exchange programs we have to offer, as Humphrey Fellows, Fulbright scholars and researchers, and participants in the Study of the US Institutes program, the Teaching Excellence and Achievement Programme, and TechWomen.

“You may not yet realise it, but I promise you – your lives will be changed forever, both professionally and personally, as researchers, teachers, and entrepreneurs.

“In 20 years, you will remember the American friends and colleagues, the universities,

the cities and rural areas where you find yourself. It will shape your thinking and your career in ways you never expected. I urge you to be as open as you can be. Be a sponge, soaking up everything you can, and push your boundaries.

“I urge to you to remember that these exchanges are not just one-way. They are bilateral. We want you to learn as much as you can from what you see and experience in America. But just as importantly, we want you to share Nigeria with Americans who will never have encountered your culture before.

“You have so much music, folk stories and sayings, traditional attire, and ways of thinking that will fascinate Americans. We are a urious people, as you will see.

“Mutual understanding across cultures and national boundaries makes a tremendous difference in international affairs for generations.

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WEDNESDAY JUNE 22, 2016 • T H I S D AY

INTERNATIONAL

email:foreigndesk@thisdaylive.com

During Siege, Orlando Gunman Told Police He Was ‘Islamic Soldier’ The Florida nightclub killer called himself an “Islamic soldier” and threatened to strap hostages into explosive vests in calls with police during the three-hour siege, according to transcripts released by the FBI on Monday. From inside the gay Orlando nightclub, the gunman, Omar Mateen told police negotiators to tell America to stop bombing Syria and Iraq and that was why he was “out here right now.”

The conversations shed more light on the possible motivations of Mateen, who killed 49 people and injured 53 in the deadliest mass shooting in modern U.S. history. In a first call he made to a 911 emergency operator, Mateen said “I pledge allegiance to Abu Bakr al-Baghdadi, may God protect him, on behalf of the Islamic State,” referring to the head of Islamic State.

Authorities believe Mateen, a U.S. citizen of Afghan descent, acted alone in the June 12 rampage, with no help from Islamist militant networks. The

29-year-old security guard was killed by police after more than three hours in the club.

The FBI and U.S. State Department released partial transcripts of the four calls with the emergency operator and crisis negotiators earlier on Monday, omitting the shooter’s references to the leader of Islamic State, saying they did not want to provide a platform for propaganda.

But they later reversed their decision and released the unredacted version after a wave of criticism from U.S. House of Representative Speaker Paul Ryan, Florida Governor Rick Scott and other political leaders. Mateen’s conversations were made public as police sought to fend off criticism that they may have acted too slowly to end a three-hour standoff at the Pulse nightclub in Orlando.

Mateen threatened to detonate a car rigged with bombs and to strap hostages into explosive vests, according to transcripts of the 911 calls he made while police tried

to rescue people trapped in the club. No explosive vests or bombs were found in the club or the suspect’s car, however, the FBI said.

“You people are gonna get it and I’m gonna ignite it if they try to do anything stupid,”Mateen said during one of the calls, according to the FBI transcript.

“While the killer made these murderous statements, he did so in a chilling, calm and deliberate manner,” FBI Assistant Special

Agent in Charge Ron Hopper told a news conference.

Mateen also said he was wearing an explosive vest like the kind “used in France,” apparently referring to the deadly assault in Paris last November by Islamic militants, the transcript said. Speaker Ryan had called for the full text to be released and accused the Obama administration of censoring references to Islamic State. He said the decision to edit

the transcript was“preposterous” and that everyone knew Mateen was a radical Islamic extremist inspired by Islamic State.

“We also know he intentionally targeted the LGBT community,” the top elected Republican official said.“The administration should release the full, unredacted transcript so the public is clear-eyed about who did this and why.”

The FBI and Justice Department said the omissions had caused

an “unnecessary distraction” and that was why they eventually decided to release the unredacted transcripts and summaries of the calls. The attack renewed debate about gun control in the United States. The U.S. Senate on Monday rejected four measures restricting gun sales, dealing a bitter setback to advocates who have failed to get even modest gun curbs through Congress despite repeated mass shootings.

Rebel-backed Charcoal Traffickers Destroy Forest in Congo Huge swathes of forest land in the Democratic Republic of Congo’s Virunga National Park are being destroyed for valuable charcoal by criminals backing one of the region’s most notorious rebel groups, a rights group said on Monday.

Congo’s illegal charcoal trade worth an estimated $35 million a year - is fuelling the widespread deforestation of Africa’s oldest national park, and a range of crimes including murder, forced labour and sex slavery, the Enough Project said.

Charcoal traffickers are helping to finance the Democratic Forces for the Liberation of Rwanda (FDLR), a rebel group linked to Rwanda’s 1994 genocide, according to a report by the Enough Project, a policy group fighting to prevent genocide and atrocities.

The rebel group, which consists of former soldiers and Hutu militiamen behind the genocide, has waged wars against other armed groups and the government and is believed to be at the heart of instability in the region, observers say.

Ethnic rivalries, foreign invasions

and competition for land have stoked conflict among eastern Congo’s dozens of rebel groups over the last two decades, costing millions of lives.

“Peacebuilding in Congo will be a losing game without addressing the complex business networks operating in the east,”said the Enough Project’s senior policy analyst Holly Dranginis.

Covering some 3,000 square miles (7,770 square kilometres),Virunga is Africa’s most bio-diverse national park, a UNESCO world heritage site, and home to endangered mountain gorillas.

The charcoal from Virunga, called ndobo, is made by cutting down and burning trees in the park, and its trade is one of the FDLR’s most lucrative businesses, the Enough Project said.

The rebel group coerces local people to produce ndobo, killing or enslaving those who resist, the group’s report said. Demand for the charcoal is concentrated in Congo, yet smugglers also transport it to Uganda and Rwanda, where old growth forests have nearly disappeared, according to the report.

Kenya: Al Shabaab Bomb Kills Ambulance Driver in Border Region A Kenyan government driver was killed on Monday evening near the border with Somalia when his vehicle hit a mine planted by the Islamist group al Shabaab, a government official said. The Somali militant group, exploiting a long border, has made several deadly incursions into Kenya and says it will keep up its attacks until Kenya withdraws its troops from Somalia.

Kenya is part of the African Union-mandated AMISOM force fighting al Shaabab which, though it has been pushed out of its strongholds in Somalia where it opposes the western-backed government, it remains resilient.

Earlier on Monday al Shaa-

bab claimed responsibility for another attack in which five police officers were killed and four more were injured in the same region. Mohamed Sales, a regional government official, told Reuters a man driving an ambulance died after the vehicle hit a mine. His co-driver’s leg was cut off by the blast. Three other people were injured.

Also on Monday, Kenyan police shot and killed a suspected al Shabaab fighter and arrested nine others alleged to be linked to the murder of three community leaders in the Indian Ocean coastal region.

Diplomats say Kenya’s northeastern border with Somalia is

EDUCATIONAL SUPPORT

United States Consul General, Francis John Bray, with Deputy Public Affairs Officer, Frank Sellin, and Nigerian participants of the US government-sponsored educational and professional exchange programs during their pre-departure orientation session in Lagos...yesterday

Pakistan, Afghanistan Fail to Reach Border Deal Pakistan and Afghanistan failed to reach an agreement on border management in talks yesterday, officials said, after days of clashes at the border last week left four dead and thousands stranded. Fighting broke out when Pakistan started building a barrier at the crossing to stop Islamist militants crossing over from Afghanistan.

That plan angered Afghanistan, which rejects the colonial-era Durand Line border drawn up in 1893 and objects to Pakistan building checkpoints along the disputed boundary.

The two countries agreed on a ceasefire on Thursday, and it was decided that an Afghan delegation led by deputy foreign

minister Hekmat Khalil Karzai would visit Pakistan for talks soon.

Foreign Secretary Aizaz Ahmed Chaudhry on Monday informed the Afghan delegation that Pakistan planned to build four gates at different points on the crossing, a Pakistani foreign office official said.

“There was no final agreement but we have informed them (Afghanistan) of our position,” the official said, requesting anonymity as he was not authorized to speak to the media.

“These gates are important for the safety and security of both Pakistan and Afghanistan.”

A second Pakistani official said the foreign policy chiefs would

hold further discussions at the Shanghai Cooperation Organization summit in Tashkent later this week.

A statement from the Afghan foreign ministry said the talks were held in an “amicable and friendly atmosphere” but said Karzai had raised what it called “various violations”by Pakistan, including setting up checkpoints in Afghan territory.

“Moreover, he strongly protested against Pakistan’s ongoing unprovoked artillery shelling of Afghan villages,” it said. Thousands of vehicles normally pass through the crossing every week, making it a vital trade link between the countries. On Monday, dozens of Pakistani traders protested

outside the provincial parliament in Peshawar, demanding that Afghan refugees be deported.

Pakistan hosts some 2.5 million Afghans who have fled fighting in their home country.

A protest leader said the free movement of Afghans into Pakistan had destroyed peace in the country and needed to be checked. Relations between the neighbors have been strained in recent months.

Kabul accuses Pakistan of harboring militants seeking to topple the Afghan government and not doing enough to bring Afghan Taliban leaders, over which Pakistan holds some sway, to the negotiating table.

Violence Spreads into South African Capital after ANC Names Mayoral Candidate Protesters burnt buses and set tyres on fire to barricade roads in South Africa’s capital on Tuesday after the ANC named a mayoral candidate not nominated by the ruling party’s regional branches.

The violence spread overnight from the townships and started after a member of the ANC was shot dead on Sunday as factions clashed at a meeting in Pretoria to decide on the candidates for

mayor of Tshwane municipality where Pretoria is located.

The ANC then named senior party member and former cabinet minister, Thoko Didiza, as its candidate for Tshwane, saying that it made the decision after wrangling between members at the party’s headquarters over who should lead the municipality.

Residents want the incumbent mayor, Kgosientso Ramokgopa,

to be allowed to run on the ANC ticket, TV station eNCA reported, but in an interview with the 24hour news channel, Ramokgopa backed Didiza’s selection and called for calm. The ANC said its members were not to blame for the violence.

“This is not a result of the nomination of the mayor in Tshwane, it’s thuggery,”ANC Secretary General Gwede Mantashe told eNCA. Local

elections in August pose a major test for the ANC as it gears up for a 2019 presidential vote in the face of a slowing economy and a strong challenge from the opposition.

Any defeats could hurt the party which has been in power since the end of white-minority rule in 1994 but is seen as losing its touch in areas - including Pretoria - where it was once unassailable.

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WEDNESDAY, JUNE 212 2016 • T H I S D AY

INTERNATIONAL

Japan Military on Alert for North Korean Ballistic Missile Launch Japan’s military was on alert for a possible North Korean ballistic missile launch, a government source said on Tuesday, with media reporting its navy and anti-missile Patriot batteries have been told to shoot down any projectile heading for Japan.

North Korea appeared to have moved an intermediaterange missile to its east coast, but there were no signs of an imminent launch, South Korea’s Yonhap News Agency

reported, citing an unnamed government source. A South Korean defence ministry official said it could not confirm the Yonhap report and said the military was watching the North’s missile activities closely.

Tension in the region has been high since isolated North Korea conducted its fourth nuclear test in January and followed that with a satellite launch and test launches of various

Somali Militants Kill Five Police in Kenya Somalia’s al Shabaab militants killed five police officers in a border region in northeastern Kenya yesterday, the latest deadly incursion aimed at punishing Kenya for sending troops to Somalia.

Al Shabaab said it was behind the attack. The group’s military operations spokesman Sheikh Abdiasis Abu Musab told Reuters four officers were also wounded and a vehicle in their convoy was burned in the ambush by its fighters.

The group has previously said it would continue attacks until Kenya withdraws troops from an African Union

force fighting the militants in Somalia. “We condemn the attack by al Shabaab at Dimu this morning, five police officers killed,”Mandera County Governor Ali Roba said on his Twitter account.

Diplomats say Kenya’s northeastern border with Somalia is a security weak spot, given the challenge of policing a long frontier, poor coordination between security services and a culture of corruption that allows those prepared to pay a bribe to pass unchallenged.

Al Shabaab has targeted the Mandera region in the past.

missiles. Japan has put its anti-ballistic missile forces on alert several times this year after detecting signs of missile launches.

The Japanese government source said there were again signs North Korea might be preparing a launch of the intermediate-range Musudan missile, the same missile it attempted to launch in May, prompting the order for the

military to go on alert. South Korea’s Foreign Ministry said if the North goes ahead with a launch it would again be in violation of U.N. resolutions and defying repeated warnings by the international community. “It will further isolate the North from the international community,” ministry spokesman Cho June-hyuck told a briefing.

The United Nations

Security Council in March imposed tightened sanctions against North Korea over its pursuit of nuclear weapons.

North Korea has failed in all four attempts to launch the Musudan, which theoretically has the range to reach any part of Japan and the U.S. territory of Guam.

North Korea tried unsuccessfully to test launch the Musudan three times in April,

according to U.S. and South Korean officials, while a May attempt failed a day after Japan put its military on alert.

North Korea is believed to have up to 30 Musudan missiles, according to South Korean media, which officials said were first deployed in around 2007, although the North had never attempted to test-fire them until this year.

Iran Warns Bahrain over Revoking Cleric’s Citizenship The head of Iran’s Revolutionary Guards has issued a warning to Bahrain suggesting there could be armed resistance across the country after Manama stripped the kingdom’s top Shia cleric of his citizenship.

The Bahrain News Agency quoted the interior ministry on Monday as saying that Sheikh Isa Qassim had played a key role in creating an “extremist” sectarian atmosphere and working to divide Bahraini society.

The move against Qassim comes less than a week after a court suspended the activities of the country’s leading Shia opposition

group, Al-Wefaq, on charges of “terrorism, extremism and violence” in the kingdom, and having ties to a foreign power - pointing a finger at Iran, a vocal critic of the Sunni-led monarchy.

General Qassem Suleimani, commander of the Revoutionary Guard’s elite Quds Force, warned Bahrain on Monday its move against Qassim could “set the region on fire”.

“Al-Khalifa [the rulers of Bahrain] will definitely pay the price for that and their bloodthirsty regime will be toppled,” Suleimani said in a statement published by Iran’s state-run Fars news agency.

After the decision was

announced, several hundred Qassim supporters gathered outside his home in the mostly Shia village of Diraz west of the capital, carrying posters and chanting religious slogans.

Bahraini media reported last week that authorities had been investigating a bank account in Qassim’s name with nearly $10m to determine where the funds were coming from and how they were being spent.

The exiled opposition group the Bahrian Institute for Rights and Democracy released a statement warning the state’s move against Qassim would escalate domestic

tensions and could lead to violence.

“We are deeply concerned that these actions will escalate tensions on the streets and may even lead to violence, as targeting the country’s leading Shia cleric is considered ... a red line for many Bahrainis,” said Sayed Ahmed Alwadaei, the group’s director of advocacy.

The US State Department said it was “alarmed” by the move, and that it was “unaware of any credible evidence” to support the removal of the spiritual leader’s citizenship. Qassim, who had served as a member of parliament in the 1970s,

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WEDNESDAY, JUNE 22 2016 • T H I S D AY

INTERNATIONAL

US Supreme Court Declines to Revive Apartheid Claims against IBM, Ford The U.S. Supreme Court has rejected an appeal by a group of black South Africans seeking to revive human rights litigation aiming to hold Ford Motor Co and IBM Corp liable for allegedly conducting business that helped perpetuate racial apartheid.

The justices left in place a 2015 ruling by the 2nd U.S. Circuit Court of Appeals in New York that favored the two companies. That court decided that the plaintiffs failed to show that there was a close connection between decisions made or actions taken by Ford and IBM in the United States to killings, torture and other human rights abuses that took place in South Africa from the 1970s to early 1990s.

Ford was accused of providing military vehicles for South African security forces and

sharing information about anti-apartheid and union activists. IBM was accused of providing technology and training to perpetuate racial separation and the “denationalization” of black South Africans.

Apartheid refers to South Africa’s former whiteminority government’s policy of segregating and oppressing the majority black population from 1948 to 1994.

The plaintiffs, led by Lungisile Ntsebeza, sued more than a decade ago under the Alien Tort Statute, a 1789 U.S. law that lets non-U.S. citizens seek damages in American courts for human rights abuses abroad. But the U.S. Supreme Court significantly narrowed the reach of that law in 2013, leading U.S. District Judge Shira Scheindlin in 2014 to dismiss the South African plaintiffs’ case.

Germany’s Daimler

IS Militants Launch Counter-attacks on US-backed Forces, Syrian Army The Islamic State group launched a counter-attack against fighters trying to capture the Syrian city of Manbij on Monday, inflicting heavy casualties on the U.S.-backed forces, the Syrian Observatory for Human Rights and the militants said.

The monitor said the militants won back three villages south of the besieged city in a surprise assault against fighters from the U.S.-backed Syria Democratic Forces. At least 28 SDF fighters were killed.

Two years after IS proclaimed its caliphate to rule over all Muslims from swathes of territory in Iraq and Syria, its many foes are advancing on a number of fronts in both countries. Their aim is to close in on its two capitals, Raqqa in Syria and Mosul in Iraq.

The SDF were poised to enter Manbij nearly three weeks after the launch of a major assault to regain the city backed by U.S. air power and American Special Forces, to seal off the last stretch of the Syrian-Turkish frontier The alliance, formed last year by recruiting Arabs to join forces with a powerful Kurdish militia, fought to nearly 2 km (1.24 miles) from the city centre from the western side on Saturday before retreating.

U.S-led coalition jets hit militants taking cover near a large wheat silo complex on the southern edge of the city that has been encircled by SDF forces.

An SDF spokesman said forces succeeded in repulsing the militant attack and remained positioned on the outskirts of the city, most of whose residents

remain trapped inside due to mines planted by the militants, who have dug in to defend it.

“The situation is under control. They have many bodies on the ground,” Sharfan Darwish, spokesman for the Syria Democratic Forces-allied Manbij Military Council, told Reuters. “We are at the four gates to the city.

The whole city is boobytrapped. After 20 days of the campaign, we have yet to storm the city,” he added, adding that some 2,000 people had succeeded in fleeing the city.

Islamic State militants were also able to roll back the Syrian army, which had reached as close as 10 km (6.2 miles) south of the strategic town of Tabqa, an Islamic State-held city on the Euphrates River, in Raqqa province.

The town, some 50 km (30 miles) west of Raqqa city, the militant’s defacto capital, appears to be the first target of a major Syrian army assault in Raqqa province backeawith Syrian troops, told Reuters the militants had succeeded in regaining areas they lost near the oil field.

He did not give figures on army casualties.

“A very intense attack has targeted army and allied positions in Thwara field that led to the withdrawal of troops from areas they liberated... and their retreat,” al Hosain said.

Amaq also said militants seized a Syrian army checkpoint near a strategic junction which leads to Raqqa city that the Syrian government forces and their allies had seized in the early phase of its Raqqa campaign.

The monitor, which tracks vio-

AG and Rheinmetall AG were dismissed as defendants in the case

in 2013. Dozens of other companies were previously dismissed.

Apartheid ended in 1994 when South Africa held its first all-race elections,

bringing Nelson Mandela and the African National Congress to power.

Pakistan Arrests Man for ‘Blasphemy’ over Hindu Symbol Pakistani police officers have arrested a Muslim man under the majority-Muslim country’s strict blasphemy laws for selling shoes with a sacred Hindu symbol, according to police and Hindu community leaders.

Jahanzaib Khaskheli, the shopkeeper, was arrested on Monday in the southern town of Tando Adam and the shoes, which carried the “Om” symbol, were confiscated, said Farrukh Ali, the district police chief.

Hindu community leaders

called for the shopkeeper to be punished.

“The state must play a proactive role in punishing the culprits under the blasphemy laws,” Ramesh Kumar Vankwani, the patron of the Pakistani Hindu Council, said in a statement.

Tando Adam, about 200km northeast of Karachi, is in Sindh province, where the vast majority of Pakistan’s approximately three million Hindus live.

The blasphemy laws make it a crime to insult any religion and

have specific sections for defiling the Quran or insulting Islam’s Prophet Muhammad that carry a life sentence and mandatory death sentence, respectively.

If convicted, the shopkeeper faces a maximum of 10 years in prison, in addition to a possible fine. Ali, the police chief, said Khaskheli had cooperated with authorities and appeared not to have intended to inflame religious sentiment. “We will do this according to law, but prima facie it seems that he did

not have any intention,” he said.

Ali said that the police were now investigating the supplier of the shoes, who is based in Punjab province.

“The responsibility in this case will be with the people who actually manufactured the shoes ... they would probably have done it intentionally,” he said. Pakistani rights groups say Hindus are often at risk of discrimination and hate crimes, including forced conversions and economic discrimination.

WEDNESDAY, JUNE 22, 2016 • T H I S D AY

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NEWSEXTRA

APC Suffers Fresh Setback in Taraba Wole Ayodele in Jalingo Barely one year after loosing in the 2015 general election to the Peoples Democratic Party (PDP) in Taraba State, the All Progressives Congress (APC) in the state yesterday suffered another setback as its state Secretary defected to PDP. The APC Secretary, Hon. Tony Baba Suleiman, decamped to the ruling party in the state along with the party’s Chairman in Sardauna local government area, Hon Yusuf Gori Tanimu and hundreds of other members of the party.

Taraba was the only state in the North where APC lost in all the elections conducted in the 2015 general election to the PDP with PDP winning the presidential, governorship and majority of the seats in the national and state assemblies elections.

Explaining the reason for their defection, Suleiman said the leadership of the APC in the state has resorted to petty politics by sidelining majority of its supporters that supported and gave it life in the state.

He equally accused the party of lack of inclusiveness and

abandonment of its teaming supporters, saying the party has become bereft of ideas and directionless.

According to him, “As if it is not enough that the leadership of the APC here in Taraba State is bereft of ideas and is directionless, they have resorted to the petty politics of sidelining, lack of inclusiveness and abandonment of the few supporters that had their backing and gave them life” The APC scribe further noted that as truly and objective Tarabans who are passionate about the state and its all round revampment which the state governor, Darius Ishaku is championing, they need not think twice before switching to PDP. Insisting that their defection was not about them, Suleiman maintained that there has to be Taraba before there can be a Taraba State chapter of any party, stressing hate APC of the day in the state is not in the interest of Taraba State.

Receiving the decampees at the party’s secretariat in Jalingo, PDP Chairman, Hon Victor Bala Kona said PDP has an everlasting agreement and pact with the people of Taraba State, saying

the party has no opposition in the state.

Assuring the decampees that they have become full fledged members of the PDP with every right as other existing members, he urged them to go and re-register as bonafide members of the party just as he thanked them on behalf

of the state chapter of the party for coming back to PDP. Speaking on the raging crisis in PDP at the national level, Bala Kona said the crisis was a family affair which would soon be resolved stressing that all the state chapters of the party remain one despite the misunderstanding

being witnessed at the national level of the party.

Insisting that APC failed the country within just 13 months of assuming the mantle of leadership of the country, the PDP boss charged all Nigerians particularly supporters of PDP to work assiduously to ensure PDP

returns to power in 2019.

“APC is a virus, APC federal government has failed Nigerians.

Where is the change? Nothing has changed. People are suffering.

Every Nigerian must work to change APC in 1999. PDP remains the only solution for Nigeria,” he maintained.

Glo Declares Commitment to Empowering Local Arbitrators Telecommunications giant, Globacom, has affirmed its total support for arbitration as an avenue for the resolution of business disputes among parties.

Coordinator, Commercial, Globacom, Mr. Ike Oraekwuotu, disclosed this at an investment roundtable held during the first International Chamber of Commerce (ICC) Africa Regional Conference on arbitration, sponsored by Globacom in Lagos yesterday.

Oraekwuotu added that the company was committed to the cause of arbitration in Africa owing to its vast benefits to businesses and as a way of building local capacity in the field.

He said: “In all the countries where we have operations on the West African coast, whenever any dispute arises between us and our broad spectrum of partners, as is it is wont to happen in a business environment, it is our policy to engage local arbitrators in the respective countries to help achieve a resolution agreeable to all parties. These are the people who know the terrain and understand the distinct nuances of the environment and its people. We may have a team of Nigerian experts to provide us advice internally at the head office, but basically the local arbitrators handle the issues on site”.

President, International Court of Arbitration, Mr. Alexis Mourre, described the First Africa Regional Arbitration Conference of the International Chamber of Commerce as the most successful of all such conferences on five continents, especially considering the level of participation.

According to him, the conference would now be held annually, even as he called for more diversity in the global community of arbitrators. He disclosed that over 70 percent of all arbitrators were of Western Europe or North American origins.

Mourre opined that “Africa is the future of arbitration”, while

calling for more Africans to get involved in the practice.

Also speaking at the conference, President of Nigerian Bar Association (NBA), Mr. Augustine Alegeh (SAN), noted that arbitration could help Nigeria decongest the courts as many cases should not to go to litigation if arbitration was duly recognised and added that the conference would help expand the frontiers of knowledge on arbitration in Africa.

Chairperson of the Planning Committee of the conference, Mrs. Dorothy Udeme Ufot (SAN), expressed appreciation to Globacom for supporting the conference. She said Globacom’s

Buhari’s Sugar-coated Pill Takes Anti-graft War to the States

Garba Shehu

The recent agreement between the federal and state governments to implement a Fiscal Sustainability Plan, FSP marks a new level in President Muhammadu Buhari's ambitions to cure the Government at federal and state levels of their corruption ills.

Before now, observers had noted the existence of a gap between what the administration is doing at the center and the business-as-usual going on in the states, without regard to the political party in power.

President Buhari campaigned on a platform of good governance and zero tolerance for corruption, promising to reign in the massive malfeasance in the the three tiers of the government in the country's ecosystem. His victory at the polls is largely owed to his anti-corruption stance.

In twelve months of the new government, there is not a single whiff of corruption scandal from the administration. Which is unlike the past when the occurrence of fraud or scams was a weekly and sometimes a daily affair.

While he has waged this war, the like of which had never been seen before against corruption at the center yielding enormous successes in this period, corruption allegations continue to dominate the headlines in many of the states.

Now, it is clear, the government in Abuja is determined to redefine the relationship between the center and the states by bringing systemic reforms to curb corruption at all levels.

This is something the President had foretold in his inaugural address when he stormed into power on May 29th,2015.

Hear what he said: "Elsewhere relations between Abuja and the states have to be clarified if we are to serve the country better. Constitutionally there are limits to powers of each of the three tiers of government but that should not mean the federal government should fold its arms and close its eyes to what is going on in the states and local governments.

Not least the operations of the Local Government Joint Account. While the federal government cannot interfere in the details of its operations it will ensure that the gross corruption at the local level is checked. As far as the constitution allows me I will try to ensure that there is responsible and accountable governance at all levels of government in the country. For I will

not have kept my own trust with the Nigerian people if I allow others abuse theirs under my watch."

While he got on with his own part, fighting corruption most vigorously than ever witnessed,he clearly wasn't content with his achievements for which he is getting richly-deserved accolades.

While it appeared to the impatient critic that the president was in a fix as to what to do, it seems clear by now that he merely waited in the lurch for the notoriously corrupt state administrations.

When he took office, he found out the twothirds of the states, 27 precisely were in salary arrears. The new president considered this a national emergency and he promptly released funds from the Central Bank to bail them out all.

Some of the accounts that trailed the spending of the bailout funds are, to say the least, quite unsavory.

President Buhari bided his time. Now that salary arrears have accumulated one more time and the states are back again asking for more money, he is saying to them that there is no more free ride for anyone.

The Nigerian Governors' Forum, acting on a vision of their own or in somewhat anticipation of the President's mind set up a committee chaired by the extremely brilliant governor of

Kaduna State, Nasir El-Rufai which provided the framework for a new bailout scheme.

Based on it, a grand plan was put together imposing new and stringent requirements for states accessing a N90 billion loans.

So far, as disclosed at the end of the last National Economic Council,NEC meeting by the Governor of Akwa Ibom state Godswill Akpabio, only five states have qualified to access the new facility.

The Minister of Finance, Kemi Adeosun who introduced the measures as part of a broader push for increased transparency and war against corruption was quoted extensively by The Nation as saying that "governors unanimously approved the plan; the commissioners (of finance) endorsed the plan; they know it is going to involve a lot of hard work in some cases."

What are the states required to do to draw from the loan?

Minister Adeosun itemized some of the conditions: "they have to clean out their ghost workers, set up efficiency units, reduce their recurrent expenditure, publish their accounts and also publish their budgets."

She went on to highlight five strategic objectives as the price governors and their states will have to pay if they want their states are to reduce corruption and be fiscally sustainable.

These five objectives are the improvement of accountability and transparency; increasing public revenue;rationalizing public expenditure; improving public financial management and having a sustainable debt management profile.

The specific conditions for accessing the new loans include: Publishing audited annual financial statements within nine months of financial year end; publishing state budget online annually; introduction and compliance with International Public Sector Accounting Standards (IPSAS); quarterly online publication of budget performance; setting up realistic and achievable targets to improve Internally Generated Revenue, IGR and the implementation of the Treasury Single Account (TSA).

More of the set conditions include quarterly reconciliation meetings between the federal and state governments on VAT, PAYE taxes and other accounts as well as the sharing of databases among them on companies in their domains; setting limits on personnel expenditure vis-a-vis capital spending; biometric capture of

employees on payroll; introduction of continuous internal audit and, the hardest of all, the federal government wants the states to strive to attain credit rating!

This, without gain sayings, is a tall order but as it is everywhere, tackling corruption in Nigeria is a massively herculean task, but not one that is insurmountable.

The generous dose of support for the policy options for decreasing the heist by the states is one such reason for optimism. By generally accepting to support the anti-corruption reforms enunciated by Abuja,states of the federation have sent a powerful message to the international community that corruption is equally a concern for them. Prospective investors have worried all the times they sought to get into the Nigerian markets that corruption played into their evaluation and assessment and it badly hurts. All must therefore be on the same page. Failure to tackle corruption,as the President has repeatedly warned, is having serious consequences for the nation's development and its existence as an entity. "We kill corruption or corruption kill us," says the President. And it is easy to see how this can happen: unfettered corruption can diminish the faith of ordinary citizens in the rule of law which leads to failure of democracy as a system of government, and in turn the failure of states.

It is with a view to waging a very successful war that government is showing a willingness to work with all stakeholders; with all anti -corruption forces including civil society,political parties,states and local governments. This is the only way it can work.

It may have taken some time for the federally financed anti-corruption spotlight to shine on the states, given how terribly wrong things had been in the past but the real shame of it is in the fact that citizens aren't still demanding accountability in their states.

Now that federal and state governments have unveiled a borrowing plan richly spiced and flavored with anti-corruption substance, it is hoped that the patently induced-hurdles will force reluctant states into line.

The Ministry of Finance for their part should do all it can to ensure that the barriers to entry are not lowered for anyone, party member or not.

• Shehu is the Senior Special Assistant to the President on Media and Publicity.

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T H I S D AY •WEDNESDAY JUNE 22, 2016

WEDNESDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com

Keshi’s Family Wants Big Boss Buried in Illah Adebayor mourns the former Togo gaffer

Omon-Julius Onabu in Asaba Controversy seems to be trailing the burial ceremony of foremost Nigeria’s ace footballer and coach, Stephen Okechukwu Keshi.

At Illah, his hometown in Oshimili North Local Government Area of Delta State, the position is clearly that his kith-and-kin are expecting the remains of their beloved son to be brought home for interment.

However, some indigenes of the quiet agrarian community expressed worry at the rumour making the round that Keshi might be buried in his in-law’s place outside his native Illah.

They said that they feared that some individuals who had in the past distanced themselves from Keshi especially during his trying moments, were now angling to play some central role in the footballer’s burial arrangements, hinting it could be a guise for money making from the death of their illustrious son.

Some of those who spoke on condition of anonymity stated that it was impossible to contemplate burying Keshi at his in-law’s place whereas he has a house at his home town, Illah, where he is also a titled chief and his relations are still alive.

“We are surprised that at death, so many persons who were not interested in Keshi became so interested based on what they stand to gain,” a close family source confided to newsmen in Illah on Tuesday.

The respondent queried, “When Keshi’s wife died, which was not long ago, how many star footballers identified with him? Was the Nigeria Football Federation led

by Amaju Pinnick involved? If Keshi was to wake up today, how will they feel?

“They are just playing to the gallery. Has NFF met its obligations to Keshi? Let them bring his remains home and allow us to give him a befitting burial deserving of a hero who has served the country meritoriously.

“All these interests in Keshi is affecting us, they should not disorganise us because of Keshi’s death, we are seriously pained that people are interested in what they stand to gain rather than giving honour to a hero?” stressed the Keshi family source.

Meanwhile, Togo captain, Emmanuel Adebayor, is mourning the death of Keshi his erstwhile coach.

Keshi qualified the Sparrow Hawks for their first and only World Cup finals appearance in 2006 and in the first of two

R L: Keshi’s children, Jennifer and Junior, and Emeke Enyihor at the NFF secretariat in Abuja …on Monday spells in charge of the national team.

Adebayor was a prominent member of the squad under the former Nigeria international, and has described his former gaffer’s demise as a “great loss to African football”.

“I knew Keshi when I was very young. He taught me a lot in my career. His death is a

FIBA U-17: Spanish Embassy Denies Nigerian Team Visas As Championship dunks off today The 2016 FIBA U-17 World Championship will dunk off today in Spain without Nigeria’s team following the refusal of the Spanish Embassy in Lagos to give the team travelling visas. Shockingly too, the Embassy officials offered no explanation for their action.

The Nigeria Basketball Federation (NBBF) had presented every document ranging from travelling insurance, birth certificates, sworn affidavits by the players parents which the Foreign Affairs Ministry endorsed since they are minors as demanded

by the embassy but yet the Spaniards denied them visas.

Surprisingly, the NBBF all through was working with the sport’s world body, FIBA, and the Local Organising Committee on ground in Spain but in spite of all these, the Spanish Embassy which had promised to issue the visa, started shifting grounds from Thursday to Friday last week before they finally returned the players passports to the protocol officer of the Youth and Sports ministry without visas on them.

Meanwhile, the players and their coaches who were

aware of the whole rigmarole by the Spanish Embassy were addressed by the NBBF President, Tijjani Umar, yesterday evening and would be released to return to their various homes today.

“We are however, going to invite most of them for the Africa U-18 Championship holding later this year,” Umar assured.

The U-17 girls tutored by Coach Adeka Daudu qualified from the African Championship held in Madagascar last year and were drawn in Group A with Canada, Latvia and Japan for the World Championship.

R I O 2 0 1 6 O LY M P I C S

NOC Unveils Red Sapphire as Exclusive Online Media Partner Ahead of the Rio 2016 Olympic Games taking place in August, the Nigeria Olympic Committee (NOC), has unveiled Red Sapphire and Team Naija as the first-ever exclusive Online Media Partners (OMP) and exclusive Raffle Draw Operator of the Committee.

At the ceremony recently held in Abuja, the NOC

President, Habu Gumel, also unveiled the campaign theme tagged “We Believe, We Can”.

The RIO 2016 Olympic is billed to kick-off on August 5 in Rio de Janeiro, Brazil.

The exclusive partnership gives Red Sapphire the right to run the NOC – RIO 2016 Telethon Raffle and to relay the Olympic Games

via KairoswebTV and the TeamNaija website, Social media profiles and other selected media platforms.

In his keynote address, Gumel called on all Nigerians and corporate organisations to support Team Naija as they prepare to ensure a successful outing at the Rio 2016 Olympics.

great loss to African football,” Adebayor told AFP .

Adebayor was speaking in the aftermath of an exhibition game played in Lome on Sunday in honour of the late tactician. The game, watched by a crowd of almost 8,000 fans at the Municipal Stadium, was between the current Togolese national team and Keshi and

Friends. It ended 6-2 in favour of the Hawks.

Keshi and Adebayor were involved in a bitter dispute that came to a head when the latter was left out of Togo’s opening game at the 2006 Africa Cup of Nations, a 2-0 defeat to DR Congo.

The official line was that of an injury to the then

Arsenal striker, but reports later emerged that there was in-fighting on the Togo team bus, with Keshi being restrained by the rest of the squad from a fist-fight with the player.

Keshi, it emerged, felt he was owed a fee for the player’s move from Monaco to Arsenal in the 2006 January transfer window.

Yobo to Play in Nigerian League Former Nigeria captain, Joseph Yobo, has agreed to come out of retirement to feature in the concluded rounds of the Nigeria Professional Football League (NPFL) this season.

The League Management Company (LMC), which oversees the running of the Nigeria top-flight, met with representatives of Yobo and reached an understanding for the former Everton man to work with the league in an ambassadorial capacity while playing in the last 12 rounds of matches this term.

“Joseph Yobo to play last 12 #NPFL games this season as League Ambassador signed on by the LMC,” the league body announced on Tuesday.

Four clubs in the Nigerian top-tier, Akwa United, FC Ifeanyiubah,

Kano Pillars and Wikki Tourists, have signified interests in having the former Nigeria defender in their team.

The Elite Player Scheme in the NPFL Framework and Rules allows a club in the top division to sign “a maximum of two players who in the opinion of the LMC will add value to the league” and Yobo fits the bill as the LMC already views him as an “ambassador” to help sell the image of the NPFL. Two seasons ago, former Nigeria midfielder, Sani Kaita, signed for Enyimba under the same Elite Player Scheme while Victor Ezeji was forced out of retirement to play for Heartland last season.

The 35-year-old, only last month, called it quits from the sport in a testimonial match in Port Harcourt

that paraded some of Africa’s biggest names like Austin Okocha, Samuel Eto’o and Nwankwo Kanu.

Yobo’s experience of playing in the country before his 17-year spell with clubs abroad, he played Port Harcourt modest outfit, Michellin.

Yobo

World Cup Draw Holds Friday in Cairo The draw for the qualifying tournament for the 2018 World Cup in Russia will be staged on Friday by 4pm Nigerian time at the CAF headquarters in Cairo, Egypt.

Twenty teams will be drawn into five groups of four teams

each to play on home and away basis from October 2016 to November 2017 with the overall winners advancing to the World Cup. The qualifiers include Algeria, Cote d’Ivoire, Ghana, Senegal, Tunisia, Egypt, South

Africa, Mali, Guinea, Cape Verde and Cameroun.

Super Eagles have qualified for five World Cups previously – 1994, 1998, 2002, 2010 and 2014.

They reached the Round of 16 in 1994, 1998 and 2014.

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WEDNESDAYSPORTS

From London to Rio: What Has Changed for Team Nigeria?

Bolaji Abdullahi

We arrived London for the 2012 Olympics with a contingent of 51 sportsmen and women competing in 8 sports namely, athletics, weightlifting, taekwondo, boxing, wrestling, table tennis, canoeing and basketball.

We were competing in the last two for the first time ever.

Even though we did not expect to win the competition, we had arrived hoping to make a decent showing.

We even had reasons to believe we could surpass some of our recent achievements at the previous Olympics. Why not?

We had arrived London riding on the wave of a short but intensive preparation of our athletes in different parts of the world where they did not only have the benefits of high quality facilities and technical support but also had the opportunity to match up against some of the best athletes from other parts of the world, and on some occasions even beating them.

Many commentators agreed that while not ideal, our preparation for the London Olympics was the best we had in recent time. Coupled with a system that put athletes’ welfare at the heart of planning and an atmosphere devoid of rancor and acrimony, everything appeared perfectly set to guarantee us a couple of medals.

Alas, at the end of the competition, we returned empty handed, making London one of the worst Olympics showing for the country in recent times.

Understandably, it was a low moment for everyone connected to our sports. The entire country went up in arms, calling for mass sackings and metaphorical beheadings. “2 Billion Naira Down the Drains,” screamed some newspaper headlines. The Federal Government was understandably embarrassed.

Some of the President’s aides advised him to sack the Nigeria Olympics Committee (NOC) to show that the government was on the side of the people on that collective national embarrassment.

As I walked stealthily into the Federal Executive Council meeting in the week following the Olympics, several of my colleagues greeted me with the query, “Honourable Minister, where are the medals?” I was not sure how I responded. Even though I was appointed to oversee the sports ministry only 2 months to the Olympics, no one was willing to exonerate me. I felt pained, but with benefit of hindsight, I realised that they were not being mean, they just believed that if you go to the Olympics and try your best, you should win medals! I myself thought so. Before London, I did not know that the Olympics is not a place you go to try your best. Almost every single medal could be predicted months before the first gun is fired.

Some months before the 2012 Summer Olympics, researchers at the University of Loughborough in the United Kingdom predicted 27 gold medals for Team Great Britain. They eventually got 29. Before then, a group of sports economists from the Colorado College department of economics in the United States predicted the medal table for the 2012 Olympics. They projected that the United States would lead the table, followed

by China. Russia, they said would come third and Great Britain would finish fourth. The final table at the end of the competition was almost exactly as they predicted it, with the only notable exception being that Team GB pushed Russia to the fourth place. What this means is that modern day Olympics performance or even elite sports performance generally, is based on objective variables that can be precisely measured.

And nations would succeed or fail based on their ratings on those variables.

London was not the first time we would be returning from the Olympics empty handed. It happened in 1988 with the Seoul Olympics. Our response then as in 2012 was typical. Public outrage, followed administrators and government making panicky vows never to allow a re-occurrence. Then a summit followed, committees and task forces were set up, reports were written and then what? The report of the committee that was set up following the Seoul debacle was what formed the basis for the 1989 National Sports Policy. Several other committees have followed since then: Dr Samuel Ogbemudia Committee on Sports Development in Nigeria, 2001; Air Commodore Emeka Omeruah OneMan Presidential Committee on Nigeria’s Performance at the 2004 Athens Olympics Games; Dr. Awoture Eleyae Report of the Technical Sub-Committee on the Presidential Committee on Sports, 2005; National Sports Blueprint Committee, 2006; Presidential Advisory Committee on Sports, 2007; Report of National Sports Summit, 2010; General Dominic Oneya Committee on the Reforms of Nigerian Football, 2011and; of course the Presidential Summit on Sports, 2012.

Through these various summits, committees and

to qualify for the finals in some events in London.

For example, our Female 400x100 meters relay team ran a time of 42.64 seconds to finish 4th. That is 0.40 seconds better than the time that won them the silver medal in Beijing. This was also evident in the number of new records that were set.

The underlying point here is that every medal is clearly projected and carefully planned for over a sustained period of time both in financial and technical terms. Only years of intensive, unrelenting training and preparation can win medals. There is no short cut. Medals are won by people who have worked hardest not by those who have prayed hardest. We can only win medals by building systems that are capable of producing medallists and champions not by selecting athletes that we hope can win medals

From London to Rio

When President Jonathan called a retreat on sports in 2012, the idea was to integrate some of these key lessons and begin to develop a new systematic framework that could lead us to a better outing in 2016. Some of the key conclusions of the retreat are as follows: Blessing Okagbare-Ighoteguonor left, Fraser-Pryce and Jeter at London 2012 1.

Identify 5 key sports that give us competitive their reports, a treasure throve of knowledge about competitive advantage. advantage and designate them as Olympic sports.

Nigerian sport has been generated over the years.

The net result of this extensive intervention was We agreed on boxing, weight-lifting, taekwondo, It is regrettable to see however that very little has that by the following Olympics in Sydney, 2000, Team wrestling, and athletics. followed by way of action. A cursory review of the Great Britain returned with 11 gold medals, 10 silver 2.

Develop a new funding architecture, which would Vision 20:2020 shows clearly that we have never lacked and 7 bronze, finishing 10th on the medals table. In guarantee sustainable funding support for these in ideas on what is wrong with our sports and what Athens 2004, they finished with 9 gold, 9 silver and identified sports. The strategy includes: needs to be done.

12 bronze, also finishing 10th on the medals table. a.

A medium-term (2013-2016) sports budget Since London 2012, we have gone on to record some The remarkable transformation of Team GB from the b.

Sustainable revenue sources, which include: major achievements. We won the Africa Cup of Nations “zeroes” of 1996, to the “heroes” of 2000 was put i.

Reform of the Nigerian lottery to deliver N48billion/ in 2013 after 19 years; we won the U-17 World Cup down to 4 key factors: year in UAE in the same year. We also qualified for the i) Predictable level of funding; 740million pounds ii.

Private sector sponsorships projected at N5billion/ World Cup in Brazil and recorded some remarkable guaranteed over a 15 year period year feats in athletics and other sports, especially at the ii) Relentless focus on sports with the best chance iii.

Federal Budget and additional ‘sin tax’ on tobacco 2014 Commonwealth Games, where we finished of winning medals. Swimming got 25million and alcohol projected to deliver N2.2billion annually. with 10 gold medals. Between Seoul and London, pounds over a 4-year period, cycling got It was estimated that the National Sports Commission we also recorded some very significant achievements, 26million pounds and rowing got 27million then would require about N50 billion for both the elite top among these would be winning the AFCON in pounds over the same period. These sports and development sports over the three year period.

1994, qualifying for the FIFA World Cup for the first alongside athletics and sailing accounted for A National High Performance Sports Fundwastobe time ever that same year and quite significantly, the half of the Olympic team funding but also established that would warehouse the fund generated Atlanta Olympics with two gold medals. accounted for 68% of medals won. for elite sports from corporate sponsorship and the lottery.

However, it is significant to note that none of these iii) Smart governing bodies (Federations) While the management of the Fund would be chaired by remarkable achievements were a result of deliberately iv) World class coaches that turned talented athletes the Minister of Sports, approval for spending would only designed system or template. They were owed more into Olympic Champions. be given in council with other members representing to luck and the rugged determination of individual I learnt two important lessons from the experience corporate sponsors, ministry of finance, elite sports athletes than any articulate framework of process and of Team GB. One is that Olympics medal cost money, federations and sports journalists’ council. This is to outcome. The issues that led to our fantastic failure a lot of money. The second is that the medal is in give confidence to the private sector sponsors who in Seoul were the same issues that led to our failure the child. have been reluctant to put their money in sports for in London and almost definitely, Rio later this year.

It is not a coincidence that the medal table in modern fear that it would not be efficiently managed and How else could we explain the fact that after waiting Olympics appears to reflect the level of economic also to ring-fence such fund from direct government 19 years to win the AFCON, we have failed to qualify development of countries. However, it must be interference. for the subsequent two editions? Or how else could we emphasised that having the money to spend is one 3. Commence a process of early discovery of explain the fact that after waiting 44 years to win our thing, making the right strategic investment is another. talent by bringing sport back into schools by creating first Olympic gold medals in football and athletics in Team Great Britain largely owes its dramatic success pathways within our school systems that allow children 1996, we have not been able to repeat that feat since to what is described as “unprecedented financial to play sports. then? The reality is that even the basic building blocks investment” totalling up to more than 740 million 4. Develop a high performance system that for sustainable excellence in sports do not exist in our GBP over 15 years. Their current annual spending integrates sports science with elite athlete development country. Even if we win anything in Rio, it would on sports stands at 125 million GBP. For the 2012 that help athletes and coaches to optimize training still be by chance rather than design.

Olympics alone, Great Britain invested 264million and performance and deploy enhanced technology

pounds and finished 3rd on the medal table with to deliver insight and analysis that enable athletes to 65 medals. That is about 4million GBP per medal. develop strategies and tactics for competition.

Team GB: From Zero to Hero and The Olympics is a lifetime commitment. Recent 5. Develop a performance-based funding system the Lessons I Learnt studies have shown that to achieve podium success that delivers grants directly to athletes.

As we rose from the retreat, the President himself At the 1996 Atlanta Olympics, Team Nigeria finished at the global level in any sports, you have to put in ahead of Team Great Britain who returned with only 10, 000 hours of deliberate training. This translates announced to the nation that the plan that we have 1 gold medal and finished 36th on the medal table. to about 2.5 hours every day for 10 years. This set out should lead us to better outcome in the next This moment was regarded as the “rock bottom” for may sound like a tall order, but so many kids that Olympics in Rio. He, in fact, announced that our target British sports. The national outrage that followed was won several medals in London 2012, surpassed this is 5 gold medals. Even though I saw the president’s not different from what we are currently experiencing. benchmark before they reached the age of 17. The enthusiasm and commitment as great window of political Hard questions were asked and the administrators Chinese Swimming prodigy, Yo Shiwen, was just 16 opportunity, I was not as optimistic. I believed also began to seriously engage with the idea of winning. when she won the 400 meters individual medley in that if we were able to execute our plans, we should The first thing they did was to open the floodgate of London at an “insanely fast” time 4 minutes, 28.43 see some radical improvements from our previous lottery fund. Even though the lottery was introduced seconds to set a new world record in that event. But she performance. But I had no doubt in my mind that in 1994, it was after the “humiliation of Atlanta” had started since primary school. Elizabeth Armistead, if we kept at it, by the 2020 Olympics in Tokyo we that they started investing funds into elite sport the 25 year old woman that won Silver medal in would be on the medals table and more importantly, through the World Class Performance Programme. cycling for Team GB in London got her fist bicycle at we would be able to show how we got there.

The work we started was on-going; even though With this fund, they were able to do three main the age of 4. This is why we say the medal is in the child. Elite athlete development goes through a 5-stage so much has changed since 2012. However, if we so things namely: i) Shop for the best coaches in the world and cycle of discovery, nurturing, exposure, preparation wish, we could pick up some of these interventions integrate them into a streamlined support and competition. The two critical elements of careful were we left off, correct mistakes where they have nurturing and systematic exposure have to happen been made, sustain what is working, build on the system ii) Make it possible for athletes to devote quite early in the athlete’s development before the foundations and improve on what has a reasonable themselves completely to their training by windows get shut by age and all forms of distortion. chance to succeed and deliver results. I still believe Another lesson that London taught me was that that there is a great opportunity to carry out the kind paying their living costs and providing other support services, such as physiotherapy, the standards are getting higher and the competitions of holistic revision that was envisaged. Maybe, not in application of sports sciences and proper keener. The Olympics is the highest possible level in time for Rio, but certainly for the future. sports; there is no next level. Micro-seconds are now • Abdullahi, a former minister of sports, delivered nutrition and equipment. iii) Appointed a world class Olympics Performance making the difference between gold medals and no this paper at the International Conference of the Director and other Performance Directors for medals at all. Performances that won medals in just the African Sports Management Association in Abuja... some identified sports regarded as areas of previous Olympics in Beijing were not even enough recently

T H I S D AY •WEDNESDAY JUNE 22, 2016

63

WEDNESDAYSPORTS EURO 2016

Croatia Shocks Spain to Finish Top of Group D

Ivan Perisic struck a sensational winner three minutes from time as Croatia ended Spain’s 14-game unbeaten run at the European Championship to top Group D after a 2-1 victory in Bordeaux yesterday.

Spain will now face Italy in the last 16 in Paris on Monday in a repeat of the 2012 final.

Alvaro Morata’s early strike got Spain off to a flying start, but, despite the absence of key man Luka Modric through injury, Croatia battled back to equalise before half-time through Nikola Kalinic.

Spain captain Sergio Ramos saw a penalty saved by Danijel Subasic 18 minutes from time.

And that miss proved vital when Perisic snuck the ball home at David de Gea’s near post.

Croatia will meet one of the best third-placed sides in Lens on Saturday.

The manner of backto-back victories over the Czech Republic and Turkey had seen Spain installed as bookies’ favourites to win an

unprecedented third successive European Championship.

Morata’s return to European champions Real Madrid from Juventus had been confirmed earlier on Tuesday.

And he moved level with club teammate Gareth Bale on three goals in the fight for the golden boot by finishing off a slick Spanish move after seven minutes.

David Silva’s cute reverse pass picked out Cesc Fabregas’s run and the Chelsea midfielder’s cross was tapped into an empty net by Morata.

Spain looked rarely troubled at the back in their opening two games, but were given plenty of problems by Croatia despite the absence of star midfielder Modric.

Kalinic stung the palms of David de Gea before forcing an error from the Manchester United ‘keeper as he dallied.

The loose ball fell to Ivan Rakitic and his brilliant chipped effort floated over Barcelona teammate Gerard Pique on the line before coming back

off both the crossbar and post.

Morata had a great chance to double Spain’s lead when he failed to control Fabregas’s fine through ball with just Subasic to beat.

However, Vicente Del Bosque’s men were pegged back right on half-time when Perisic’s cross from the left was delightfully flicked home

by Kalinic.

It was the first time Spain had conceded in 11 competitive games stretching back to October 2014 and first time they had conceded in the Euros for a record 733 minutes.

The goal seemed to knock Spain out of their stride as Croatia pushed them onto the back foot at the start of the second period.

De Gea saved from Tin Jedvaj to atone for his own error in flapping at a cross before Marko Pjaca sent an acrobatic effort just wide from the rebound.

Pjaca also had claims for a penalty waved away as

Croatia threatened the goal that would have taken them top of the group.

Del Bosque responded by withdrawing front two Nolito and Morata for the more physical presence of Bruno Soriano and Aritz Aduriz.

Spain were then handed a great chance to retake the lead when referee Bjorn Kuipers adjudged Silva had been pushed by Sime Vrsaljko inside the area.

Modric appeared to send on a message to Subasic when he saw his Real Madrid teammate Ramos step up to take the spot-kick.

And Subasic got lucky as his penalty save was allowed to stand despite the fact he had encroached well before Ramos took aim.

Croatia took full advantage to blow the tournament wide open as Perisic lashed home to round off a clinical counter-attack leaving Spain, Italy, Germany, France and England all on the bottom-half of the last-16 draw.

Ivan Perisic ended Spain’s 14 Euro matches unbeaten run

Germany Sinks N’ Ireland to Win Group C Mario Gomez struck as world champions Germany beat Northern Ireland 1-0 in Paris yesterday to qualify for the Euro 2016 knockout phase as winners of Group C. Drafted in to address the goal-scoring problems witnessed in Germany’s 0-0 draw with Poland, the onGroup A

POS 1 2 3 4

Team France Switzerland Albania Romania

Group D

POS 1 2 3 4

Team Croatia Spain Turkey Czech

loan Besiktas striker netted from Thomas Mueller’s pass in the 30th minute at Parc des Princes.

That Germany did not win more handsomely was due largely to the excellence of Northern Irish goalkeeper Michael McGovern.

But it was enough to

P 3 3 3 3

W 2 1 1 0

D 1 2 0 1

L 0 0 2 2

GF 4 2 1 2

GA 1 1 3 4

GD 3 1 -2 -2

Pts 7 5 3 1

P 3 3 3 3

W 2 2 1 0

D 1 0 0 1

L 0 1 2 2

GF 5 5 2 2

GA 3 2 4 5

GD 2 3 -2 -3

Pts 7 6 3 1

preserve their position at the top of the group on goal difference above Poland, who beat Ukraine by the same scoreline in Marseille.

Joachim Loew’s side will now turn their thoughts to a last 16 tie against either Albania, Slovakia or the third-place team in Group Group B

POS 1 2 3 4

Team Wales England Slovakia Russia

Group E

POS 1 2 3 4

Team Italy Belgium Sweden R. of Ireland

F -- which is yet to conclude -- in Lille on Sunday.

Michael O’Neill’s Northern Ireland, meanwhile, must wait to have their qualification confirmed.

They finished third in the group, but their 2-0 win over Ukraine last week puts them in a strong position to go

P 3 3 3 3

W 2 1 1 0

D 0 2 1 1

L 1 0 1 2

GF 6 3 3 2

GA 3 2 3 6

GD 3 1 0 -4

Pts 6 5 4 1

P 2 2 2 2

W 2 1 0 0

D 0 0 1 1

L 0 1 1 1

GF 3 3 1 1

GA 0 2 2 4

GD 3 1 -1 -3

Pts 6 3 1 1

through as one of the four best third-place teams in what is their first European Championship finals.

O’Neill kept faith with the team that had overcome Ukraine, but whereas his side had set the tempo in Lyon, they were immediately on the back foot against Group C

POS 1 2 3 4

Team Germany Poland N’Ireland Ukraine

Group F

POS 1 2 3 4

Team Hungary Iceland Portugal Austria

Germany.

With full-backs Jonas Hector and Joshua Kimmich pushing high up on either flank and Jerome Boateng and Toni Kroos lofting passes behind the Northern Irish defence, Germany effectively took up residence in the final third.

P 3 3 3 3

W 2 2 1 0

D 1 1 0 0

L 0 0 2 3

GF 3 2 2 0

GA 0 0 2 5

GD 3 2 0 -5

Pts 7 7 3 0

P 2 2 2 2

W 1 0 0 0

D 1 2 2 1

L 0 0 0 1

GF 3 2 1 0

GA 1 2 1 2

GD 2 0 0 -2

Pts 4 2 2 1

Akwa Utd’s Turnaround Excites D-Defenders Emerge Champions of Sam Ocheho/InnJoo Handball Paul Bassey

We Don’t Have Thugs as Fans, Says MFM FC

Akwa United chairman, Paul Bassey believes the club has turned the corner in this season’s Nigeria Professional Football League (NPFL) after a difficult period earlier in the campaign.

United beat El Kanemi Warriors 2-0 in their last game to continue their ascent on the table following consistent results in recent weeks.

Bassey believes the best is yet to come from his charges and predicts even better times ahead.

“Our form is no longer patchy. It was important for us to reinforce during the transfer window and securing the services of seven new players.

The management of Mountain of Fire and Miracles Ministries Football Club of Lagos has refuted news making the rounds in the media claiming that fans of the club are thugs after the unfortunate Match-day 23 game of the Nigeria Professional Football League (NPFL) against Shooting Stars Sports Club (3SC) of Ibadan decided at the Agege Township Stadium on Sunday.

MFM FC suffered a 1-0 home defeat in the hands of 3SC courtesy of an 82nd minute strike

by Ebitimi Agogo who benefited from a quick counter attack and slotted

“There have been a lot of restructuring in our club and it fills me with happiness because things are going according to script.

“All the clubs ahead of us on the table still have to come to Uyo to play against us (in the NPFL) so I am confident because we will try to take maximum points off them.

“The team is taking shape so I am not losing sleep because I know we will end up well on the table at the end of the season,” he told supersport. com.

Akwa United currently occupies sixth place on the NPFL log with 32 points from 22 matches.

D-Defenders of Abuja on Saturday at the Lagos State Sports Commission complex, Yaba, dethroned defending champions; Lagos Seasiders 23-22 in a keenly contested encounter to win the male category of the third edition of the Sam Ocheho/ Injoo Invitational Handball Championships.

With the victory, D-Defenders finished the competition with 17 points having won five games and drawn one while Seasiders finished second with 16 points from five wins and a loss.

ASPAC of Benin Republic finished third in the category with 14 points after winning four matches and losing two.

In the female category,

Imo Grasshoppers of Owerri won the women’s category, finishing with 21 points from seven wins ahead of ASPAC of Benin female team that had 17 points from five wins and two losses. The Flowers, also from Benin Republic, finished third with 15 points from four wins and two losses.

Winners in each category carted away N500, 000 each while the runners-ups got N300, 000 and the thirdplaced teams got N250, 000.

The Most Valuable Players in each category – Nura Mohammed of Rima of Sokoto and Udochukwu Ohakwe of Grasshoppers respectively were given mobile phones from the sponsors, Injoo.

home past goal keeper, Abayomi Folarin almost immediately after teenage striker, Stephen Odey was brought down in the visitors box for what was obviously a penalty.

Tempers flared with football fans protesting the referees decision in the stands. They however showed maturity by not attacking anyone, including the match officials as everyone went home peacefully.

The game resumed a few minutes later and 3SC held on to record an away win.

MFM FC travels to Akure to play Sunshine Stars this weekend.

Wednesday June 22, 2016

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& RE A S O

Price: N250

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MISSILE

Aregbesola to Critics

“Against all speculations, I have not ordered the use of the hijab, I challenge anybody with evidence to come out and show that I have made a proclamation on the hijab. If I have permitted the hijab will the Muslim community have gone to court to challenge it, is that not contradictory? Is it a crime that I am a Muslim, is it because I struggle to be a good Muslim that everything I do is misunderstood? I think I don’t deserve all these lies against me” –Osun State Governor Rauf Aregbesola denying the claim that he ordered the use of hijab by female Muslim students in the state’s public schools.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

‘True Federalism’ as Panacea A dvocates of restructuring of Nigeria talk of “true federalism” as a panacea for Nigeria’s problems. But that is not true for clear reasons. To start with, every federation develops according to its own historical and political peculiarities. A federation is to be continuously nurtured by way of “ bargaining” and “negotiation” among the constituent parts. So it is utterly unrealistic to prescribe “true federalism” as the solution to Nigeria’s problems. In any case, where on earth is an example of such federalism? In that wise, we should be talking about the evolution of the Nigerian federalism instead of clamouring for a mirage called “true federalism”.

While the emergent issues of the Nigerian brand of federalism are undeniable, advocacy for restructuring should not become a diversion from issues of people’s material existence. To be sure, restructuring cannot be a panacea. This is simply because the problem of Nigeria is not only about the geo-political and ethnic structure. The more fundamental and urgent problem is with the socio-economic structure. The restructuring that ethnic and zonal champions are agitating for is only about vertical delineation. At the horizontal level is the structure that has consigned an overwhelming majority of the people into poverty and misery. The socio-economic structure which ethnic and zonal champions are hardly bothered about is ridden with joblessness, hunger, illiteracy, homelessness and disease. Victims of this unjust and inhuman structure who are malnourished, sick, destitute and illiterate are located in every state, every zone and every region of Nigeria. The poor speak all Nigerian languages. It is important to stress the point once made on this page by this reporter in this federalism debate that without prejudice to the legitimacy of the National Question, Nigeria suffers acutely from crisis of governance. A lot of work remains to be done to keep Nigeria a united country of people of many ethnic groups. Even then, the undercurrents of integrative forces should not be discounted. But, as Edwin Madunagu puts the matter with mathematical clarity, Nigeria is not simply the arithmetic sum of the 450 or so nationalities. Yes, Nigerians belong to ethnic and religious groups. Yet, by the reality of their material existence they also belong to socio-economic classes. They are not just Igbo, Ijaws, or Kanuris. They also belong to other groups as farmers, workers, employers, students, women, businessmen, contractors, importers, professionals, unemployed, billionaires and destitute citizens. A few Nigerians are exploiters and many Nigerians are exploited. The interests of these classes are contradictory. Hence, the immediate crisis the poor socio-economic groups face is that of the political economy and not that of federalism.

The ethnic champions don’t speak for the majority who are victims of the inequitable socio-economic structure. How many members of the Lagos elite, for instance, stop their luxury cars on the road to find out the ethnic identity of the homeless under a bridge? The ethnic champions insist that geo-political restructuring would solve all the problems.

That is a monumental diversion. For instance,

Buhari

the neo-liberal ideologues have just further restructured the socio-economic structure in what amounts to a policy coup. They have devalued the currency, raised the cost of energy and retrenchment of workers has become a policy virtue in both the public and private sectors. At least, President Muhammadu Buhari is on record to have said that he was more or less presented with a fait accompli by our free market fundamentalists in power acting under the instruction of the policemen of global capitalism. The enormous existential risks to which the poor people are ultimately exposed to by this reckless experiment in the name of economic management is never the business of champions of geo-political restructuring. The calls for constitutional redistribution of powers among governors and the president do not include the call for the socio-economic empowerment of the people by making Chapter II of the 1999 Constitution justiciable. Geo-political restructuring will not automatically tackle the economic crisis at hand. Proper governance by those with pro-people orientation in power could tackle the problems.

The debate about devolution of powers or making the centre stronger is healthy. But how does creation of more states or merger of some states automatically enable insolvent

While the emergent issues of the Nigerian brand of federalism are undeniable, advocacy for restructuring should not become a diversion from issues of people’s material existence

states pay salaries of workers? No matter the number of states created or merged by restructuring, the governors have to learn the art and science of economic management beyond monthly receipts of allocated revenues from Abuja. Some states cannot provide the people with potable water, primary healthcare and decent primary schools. Is non-payment of salaries a result of an overbearing Abuja preventing the states from “developing at their own pace”? Do the state governments need more constitutional powers from the centre to fulfill the basic obligations of the state to the people?

Besides, there is a lot of conceptual confusion about what exactly restructuring the federation entails. It is understood that the various propositions for restructuring would eventually be distilled into a constitutional framework. For instance, the legitimate call for resource control from the Niger Delta could be tackled through constitutional reengineering. The police are already heavily equipped in many of the states by the state governments. The police commissioners are members of the state security council

working with the governors. What else will the creation of state police achieve beyond the police becoming a political instrument of the governors? Billions of naira have been spent since 1999 to review the constitution.

Advocates of Sovereign National Conference believe a new constitution has to be made for it to be legitimate. Last week, some senators proposed at a conference on the review of the constitution placing lawmakers sitting for 181 days a year in four years on pension and conferring immunity on their leaders.

To those senators those are the things that make restructuring urgent! How more socially insensitive can those in power get in a country where retired soldiers and policemen who served the nation for 35 years each collapse on pension queues? People are dying of hunger, yet some members of the elite are getting the nation fixated on restructuring.

The people should be wary of those making them to nurse the illusion that restructuring is a panacea for the enormous problems of the nation. Restructuring should not be made a fetish. Poverty eradication is a more urgent task.

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22-06-16

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