Wednesday 29th June 2016

Oil Prices Rebound in Post-Brexit Bargain Hunting Ejiofor Alike with agency report Oil prices topped $48 a barrel yesterday, as investors took advantage of a two-day slide in crude oil triggered by Britain’s vote to leave the

European Union.

The vote’s impact on oil, despite sending global stocks and currencies spiraling, has so far been limited due to expectations of strong summer demand in Asia and the United States and

tightening supplies after a two-year rout.

A looming strike at several Norwegian oil and gas fields, which threatened to cut output in Western Europe’s biggest producer, also helped support prices yesterday.

According to Reuters, Brent crude futures were up 2.5 per cent, or $1.17, at $48.33 per barrel at 1116 GMT. U.S. West Texas Intermediate (WTI) futures were 2.6 per cent higher, up $1.22 at $47.55 a barrel.

A report by industry monitor, Genscape that showed a 1.3 million barrel fall in crude inventories at the benchmark’s pricing hub in Cushing, Oklahoma, added further support, brokerage firm PVM said.

Sterling and London’s FTSE 100 stock market index also rose on hopes of a coordinated central bank response to financial market losses.

Continued on page 8

Buratai Brands Persons Behind Dubai Properties Report ‘Internet Boko Haram Terrorists’… Page 10 Wednesday 29 June, 2016 Vol 21. No 7734. Price: N250

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28 Killed, 60 Wounded in Suicide Bombings at Istanbul Airport Zacheaus Somorin with agency report Gun and three suicide attacks yesterday at Istanbul’s Ataturk international airport in Turkey have killed at least 28 people and injured up to 60. The

Istanbul governor gave the new toll after initial reports of 10 fatalities.

Up to three attackers were involved, when they reportedly opened fire with Kalashnikovs as they targeted an entry point to the terminal

and blew themselves up.

Recent bombings in Turkey have been linked to either Kurdish separatists or the so-called Islamic State group.

According to the BBC, yesterday’s airport attack looked like a major, coordinated assault.

Ataturk airport was long seen as a vulnerable target, the BBC reported. There are X-ray scanners at the entry to the terminal but security checks for cars are limited.

Flights in and out of the airport were suspended after

the attack.

Taxis were used to rush casualties to hospitals in the immediate aftermath of the attack.

The state-run Anadolu agency said around 60 people had been wounded, six of

them seriously.

Police sources were cited as saying initial indications suggest Islamic State was behind the attack, according to reports.

Continued on page 8

Ekweremadu Writes Int’l Community, Says Buhari Wants to Silence Him

Letter sent to UN, EU, US, UK, others AGF to appear before Senate tomorrow, may be grilled over conflict of interest as counsel to Unity Forum senators Omololu Ogunmade in Abuja Deputy Senate President, Ike Ekweremadu has written to the United Nations (UN), European Union (EU) and governments of the United States and United Kingdom, alleging attempts by the government of President Muhammadu Buhari to truncate Nigeria’s democracy.

Also copied in the letter were the United States Congress and European Union (EU) Parliament.

This is just as the AttorneyGeneral of the Federation (AGF) and Minister of Justice, Mr. Abubakar Malami is

expected to appear before the Senate Committee on Judiciary, Human Rights and Legal Matters tomorrow, where he is likely to face questions on his decision to prosecute Senate President Bukola Saraki, Ekweremadu and four others for allegedly forging the Senate rules.

He is also likely to be grilled on the conflict of interest arising from his involvement in the same case a year ago, when he represented Saraki’s opponents in the Senate in his private capacity as a lawyer.

Continued on page 8

Naval Chief: Maritime University to Commence Academic Activities Soon… Page 57

CORPORATE LEADERS MEET ON BUSINESS SUSTAINABILITY L-R: CEO, Nigerian Stock Exchange, Mr. Oscar Onyema; Chairperson, Access Bank Plc, Mrs. Mosun Belo-Olusoga; Commissioner for Energy and Mineral Resources, Lagos, Mr. Wale Oluwo; Unilever Global CEO, Mr. Paul Polman; and Chairman, Julius Berger Nigeria Plc, Mr. Mutiu Sunmonu, during an interactive session with Polman on building sustainable and profitable businesses in volatile times, held in Lagos… yesterday

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PAGE EIGHT EKWEREMADU WRITES INT'L COMMUNITY, SAYS BUHARI WANTS TO SILENCE HIM In the two-paged letter, titled “Re: Trumped up Charges Against the Presiding Officers of the Eighth Senate: Nigerian Democracy is in Grave Danger”, Ekweremadu insisted that Buhari’s government wants to silence him as the highest ranking opposition leader in the country by prosecuting him for alleged forgery.

Ekweremadu also attached to his letter, copies of the court summons and other relevant documents relating to the charge.

He urged the international community to go through the documents and determine if the trial was justifiable or one purely borne out of political vendetta.

He insisted that neither his name nor that of Saraki featured in the petition by members of the Senate Unity Forum (SUF) or during the investigation of the petition by the Nigeria Police.

He alleged that he was denied fair hearing in the matter, adding that the police did not interact with him before he was charged to court.

He urged the international community to determine if the trial was not politically motivated, a witch-hunt, barefaced intimidation and an attempt to emasculate him.

“You may further wish to judge for yourself whether this unfolding scenario, coupled with the clampdown on the opposition, such as targeted arrests and indefinite detention of opposition figures and dissenting voices in spite of court pronouncements and in clear violation of the Nigerian Constitution, as well as the sustained marginalisation of the South-east and Southsouth geopolitical zones of

Nigeria, do not constitute a grave danger to the nation’s hard-won democracy,” he said.

The letter added: “I wish to forward to you the court summons containing the trumped up charges preferred against my person; the President of the Senate, His Excellency, Senator Bukola Saraki, CON; and two others.

“I also wish to appeal to you to kindly find time to read through the annexures - petition by members of the Senate Unity Forum, statements by persons interrogated, and the police report - to see if we appeared anywhere in these documents.

“You may, thereafter, judge for yourself whether the federal government, acting through the AttorneyGeneral of the Federation, has any justification whatsoever to generate our names for trial.

“The list of the accused persons appear to have been politically generated because you cannot by the documents attached, relate any of our names to the offence for which we are now being charged.

“Moreover, the rules and principles of fair hearing have not been adhered to because the police have not interacted with neither me nor the President of the Senate as at the time of writing this letter.

“You may also wish to judge for yourself whether this trial orchestrated against me is not a political trial, calculated witch-hunt, barefaced intimidation, and a clear attempt to emasculate the parliament and silence me as the leader and highest ranking member of the opposition in Nigeria.

“Meanwhile, it would also be recalled that an attempt was made on my life on November 17, 2015. The

Nigerian security agencies did nothing, even though the incident was duly reported. This is for your information and reflection.”

When contacted on the letter written by Ekweremadu to the international community, the president’s media aide Femi Adesina said the presidency would not comment on the Deputy Senate President’s letter.

Saraki, Ekweremadu and two others were arraigned by the federal government on Monday for allegedly forging the Senate rules that were used in the elections through which they emerged Senate President and Deputy Senate President, respectively, in June last year.

All four pleaded not guilty and were granted bail by the High Court, Abuja.

Since the news of their prosecution broke, the already fragile relationship between the presidency and Senate has taken a turn for the worse.

The presidency has never hidden its displeasure over the emergence of Saraki as Senate President, in defiance to the preferred choice of the ruling All Progressives Congress (APC), Senator Ahmed Lawan.

Saraki defied the wishes of his party to become senate president by aligning with senators of the opposition Peoples Democratic Party (PDP), who insisted they would only support his candidacy for the post if Ekweremadu was elected his deputy.

Unease Pervades Senate The arraignment on Monday of Saraki and Ekweremadu has continued to create unease among senators in Abuja, THISDAY gathered yesterday.

The fear enveloping the Senate, THISDAY gathered, has forced those loyal to the Senate President and his deputy to dig deep and come up with a strategy to counter the perceived motive of the executive.

Speaking to THISDAY on the issue, a senator from the South-south geo-political zone said: “Let me be open with you, the Senate leadership and in fact, majority of the senators are very worried about the motive of the President Muhammadu Buhari-led executive.

“But for now, the Senate is on break and the President of the Senate has travelled to Saudi Arabia for Umra (lesser Hajj).”

Asked what the senators plan to do to counter the motive of the executive, the senator said a political team – made up of some senators loyal to the leadership of the Senate and some political strategists outside the Senate – had been set up to come up with a plan to counter the purported plot by the executive.

The source added: Maybe President Buhari and his gang have just realised that their plan to use the Code of Conduct Tribunal (CCT) to force a change of leadership in the Senate would not fly.

So they have decided to come up with this latest plot.

“Right now, there is a near agreement by a majority of us that Buhari has pushed us to the wall, and nobody can predict what would be the reaction of the National Assembly.”

AGF to Appear Before C’ttee Meanwhile, the AGF is expected to appear before the Senate Committee on Judiciary, Human Rights and Legal Matters tomorrow to explain the rationale behind his decision to charge Saraki

28 KILLED, 60 WOUNDED IN SUICIDE BOMBINGS AT ISTANBUL AIRPORT Turkey’s Dogan News Agency claimed authorities believed ISIS terrorists were responsible for blowing themselves up inside the terminal.

A police officer reportedly tackled one of the attackers to the ground before they set off their explosives.

Reports from Turkey suggested two attackers blew themselves up at the entrance to the international terminal before entering the x-ray security check.

An NBC News reporter tweeted that one of them grappled with an officer before detonating his explosives, citing someone who had been at the scene.

He said: “We spoke to a witness - someone who we know works at

the airport and he was with a passenger, he’s a porter - and he heard the first explosion.

“He said it happened outside the international departure and arrival hall. He heard that first explosion and saw people running.

“He was running with them then he looked over and saw a police officer diving to tackle a second bomber, then that second bomber blew himself up.

Witnesses believe a police officer was killed.

“Then much more panic, more running, then a short time after that a third explosion. All of them outside and this is an incredibly busy airport.”

Police reportedly fired

shots at the so-called terrorists before they carried out their attack.

Last December, a blast on the tarmac at a different Istanbul airport, Sabiha Gokcen, killed a cleaner.

That attack was claimed by a Kurdish group, the Kurdistan Freedom Falcons (TAK).

Security concerns and a Russian boycott have hit the country’s tourist sector this year.

On Monday, Turkish President Recep Tayyip Erdogan apologised for the downing of a Russian military jet on the TurkeySyria border last year, the act which sparked the boycott.

Last year, Ataturk overtook Frankfurt airport

to enter the top three busiest airports in Europe after London Heathrow and Paris Charles de Gaulle.

More than 61 million passengers used the airport in 2015.

A US State Department travel warning for Turkey, originally published in March and updated on Monday, urged US citizens to “exercise heightened vigilance and caution when visiting public access areas, especially those heavily frequented by tourists”.

Istanbul is a very popular route for Nigerians travelling to Europe, Asia and the Middle East. Its airline, Turkish Airline, operates daily flights to Istanbul from Lagos and Abuja.

and Ekweremadu to court for alleged forgery of the Senate Standing Orders.

The AGF was earlier billed to appear before the committee last Thursday in accordance with the Senate resolution of June 21, 2016, which mandated the committee to summon the AGF. The resolution was the fallout of a motion moved

by Senator Dino Melaye (Kogi West) wherein he accused the AGF of charging Saraki and Ekweremadu to court for perceived spurious allegations of forgery.

Melaye further said the decision of the AGF to reopen the forgery charge after Justice Gabriel Kolawole of an Abuja Federal High Court had struck out the case was a threat to democracy.

In compliance with the resolution, the Committee on Judiciary summoned the AGF to appear before it on Thursday, June 23.

But following his inability to honour last Thursday’s invitation, the committee rescheduled the meeting for Thursday, June 30 (tomorrow).

The new letter rescheduling the meeting and entitled “Re: Eminent Threat to Our Democracy Request for Adjournment”, whose receipt was acknowledged by the Office of the AGF yesterday, was signed by the committee chairman, Senator David Umaru.

The letter was dated June 27.

The letter read: “I write with reference to your correspondence on the above subject matter with Ref. HAGF/NASS/2016/

Vol. 1/24, dated 23rd June, 2016, whereby you requested for an adjournment of the meeting of the committee, which was supposed to hold on Thursday, 23rd June 2016, to enable you prepare your response.

“The committee has considered your request and having regard to the reason adduced, acceded to the request for an adjournment.

Accordingly, the meeting is now scheduled to hold on Thursday, 30th June 2016 at noon prompt.

“The venue is Senate meeting room 313, 3rd floor, New Senate building, National Assembly complex.

You are by this letter, invited to appear before the committee on the date and time mentioned above.

Please, accept the assurances of our highest consideration and esteem.”

Should he appear, Malami is likely to be grilled on the apparent conflict of interest arising from his involvement in the forgery case that was dismissed by a Federal High Court, Abuja, slightly less than a year ago prior to his appointment as the AGF. Malami was one of several lawyers who represented senators of the Unity Forum that sued Saraki, Ekweremadu and others last year for allegedly forging the Senate rules.

However, Justice Kolawole had ruled that the alleged forgery of the Senate rules were the chamber’s internal affair.

He held that the involvement of the police in the case amounted to the National Assembly allowing other arms of government to supervise or regulate its internal proceedings.

OIL PRICES REBOUND IN POST-BREXIT BARGAIN HUNTING “Oil is recovering on some bargain hunting after the drop below $47 a barrel proved unsustainable and news of a possible strike in Norwegian oil and gas industry,” said Commerzbank analyst Carsten Fritsch.

He said the turmoil in Europe was not expected to have a “meaningful impact on the physical global supply and demand balances”.

Over its two previous sessions, oil fell more than 7 per cent to seven-week lows as the Brexit vote cooled investor appetite for volatile commodities such as oil.

A strike in Norway, which could start on Saturday, would add to a number of production outages in oil-producing countries including Nigeria.

Still, news that a successful ceasefire in Nigeria had allowed repairs to oil pipelines weighed on

the market, ANZ Bank said.

Oil production in Nigeria has risen to about 1.9 million barrels per day from 1.6 million, the Minister of State for Petroleum Dr. Ibe Kachikwu, confirmed yesterday.

TOP GAINERS NGN NGN REDSTAR 0.39 4.33 NEIMETH 0.10 1.19 JBERGER 2.31 48.51 LAWUNION 0.03 0.63 UNIONDICON 0.75 15.75 TOP LOSERS NGN NGN TRANSCORP 0.18 1.81 FBNHOLDINGS 0.24 3.81 OANDO 0.38 6.27 TOTAL 10.00 190.00 UPL 0.23 4.37 HPE Nestle Nig Plc ₦849.99 Volume: 255.254 million shares Value: N3.303 billion Deals: 4,812 As at 28/06/16 See details on Page 56

% 9.9 9.2 5.0 5.0 5.0 % 9.1 5.9 5.7 5.0 5.0

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STARTERS

IRI Poll: Buhari’s Anti-corruption Fight Polarises Nigeria Onyebuchi Ezigbo in Abuja President Muhammadu Buhari’s crusade against corruption might have brought about a major division between the northern and southern parts of the country leading to a growing lack of unity of purpose on national issues.

A poll released yesterday by a research group, International Republican Institute (IRI), showed that there is a split in perception on the efficacy of the anticorruption fight along north-south lines, with more negative views noted in the south than in the northern part of Nigeria.

Speaking at the formal presentation of the outcome of the poll to the media in Abuja, IRI acting Regional Director, Africa, John Tomaszewski said though Nigerians remain polarised between north and south on the performance of the current administration, they support the democratic process and believe that democracy has improved since the 2015 national elections.

According to Tomaszewski, while 54 per cent of Nigerians feel that the country is headed in the right direction, there are clear divisions in perceptions over the country’s trajectory.

The IRI poll said: “Almost half of respondents in the North-east (40 per cent) said the country is headed strongly in the right direction, compared to just 10 per cent in the South-east, where 49 per cent believe that the country is moving strongly in the wrong direction.

“A similar split can be seen in regional perceptions of the economy: 75 per cent of respondents in the South-east think the economy has gotten worse, compared with 44 per cent in the North-east.”

The poll also revealed a widespread perception that corruption was declining, with 53 per cent of respondents reporting that corruption had decreased in the past year.

"However, it is important to note that this perception is largely split between the north-south lines, with more negative views noted in the south than in the

NEWS Buratai Brands Those Behind

Dubai Properties Report ‘Internet Boko Haram Terrorists’ As more Nigerians demand the probe of the Chief of Army Staff (COAS), Lt-Gen.Tukur Buratai, over his own- ership of two properties in Dubai, United Arab Emirates …

Page 10

EDITORIAL The Task Before IGP IdrIs

Pesident Muhammadu Buhari last week appointed Alhaji Ibrahim Kpotum Idris as the acting Inspector General of Police.

Page 15

POLITICS Let the Edo Battle Begin...

Buhari north,” the report stated.

The poll said that 59 per cent of respondents consider democracy more important than prosperity, compared to 37 per cent who found prosperity more important to them.

“This preference for democracy comes despite the crippling economic challenges facing the country, with 57 per cent of respondents reporting that their personal economic situation has gotten worse over the past year,” it said.

According to the poll, despite sharp regional divisions on national issues, questions regarding elections indicated a commitment to the concept of the democratic process nationwide.

“This poll attests to the significant work that Nigeria’s government must do to address regional divisions and other issues of governmental responsiveness and accountability affecting the Nigerian people.

“But it also highlights the tremendous achievement of the Nigerian people in committing to the democratic process despite the difficulty of past elections, and is a promising indicator for the country’s democratic development since

the return of democracy in 1999,” it stated.

While commenting on the result of the survey, the Director, New Media of the Peoples Democratic Party (PDP) Deji Adeyanju faulted its findings on the grounds that it did not take into consideration some of the fundamental issues of the flagrant abuse of the rule of law, especially the illegal arrests and detentions, state-sanctioned killings of Shi'ite protesters in Zaria and members of the Indigenous People of Biafra (IPOB).

In explaining the methodology adopted in carrying out the research project, IRI said its scope was limited because the interviews were conducted through phones.

“We could have that liberty to ask more questions if it was a face-to-face situation,” IRI explained.

It said the research was conducted

by NOIPolls under the supervision of Chesapeake Beach Consulting and IRI between April 18 and May 6, 2016 through a total of 13,409 interviews, of which 7,901 interviews were completed.

It further gave a response rate of 58.92 per cent for the poll.

Nigerians Split over Negotiating with Niger Delta Militants The federal government is trying to talk its way out of an unfolding crisis in its oil-producing Niger Delta region, but activists and traditional leaders are divided over whether negotiation is the best solution.

The Minister of State for Petroleum, Dr. Emmanuel Ibe Kachikwu, said the government wants to work with the Niger Delta Avengers (NDA), a militant group whose months of attacks on oil pipelines succeeded in reducing Nigeria’s oil production by as much as 50 per cent.

It is unclear if talks have already begun. An official at the state-owned oil company told the Voice of America (VOA) last week that the government and the Avengers had agreed to a ceasefire, a position the group denied on Twitter.

In the Niger Delta’s towns and cities, some activists are wondering if brokering peace with the militants is a good idea.

“Anybody from anywhere can just pick [up an] AK-47, create hell with the pipelines and expect the federal government to come and negotiate with them,” said Anyakwee Nsirimovu

Two-Minute Briefing

of the Port Harcourt-based Institute of Human Rights and Humanitarian Law. “That would be anarchy.”

Previous Nigerian governments have negotiated with militants in the region.

An earlier insurgency was quelled in 2009 when former President Umaru Musa Yar'Adua convinced militants to surrender their guns in exchange for an amnesty programme that provided monthly cash payments and job training.

The Avengers’ attacks on oil pipelines started earlier this year and sharply reduced Nigeria’s daily production of around two million barrels per day.

The decision to seek talks with the Avengers was a wise one, said Godspower Gbenekama, a member of the traditional ruling council in the Gbaramatu Kingdom, which was the site of several pipeline attacks claimed by the Avengers.

“Military solution is never a solution and can never be a solution. Dialogue is the only way forward,” he said, adding that Avenger attacks and military reprisal and raids have led to oil spills in Gbaramatu.

But by engaging the Avengers in

talks, attorney and human rights activist Oghenejabor Ikimi said that will encourage other militant groups to take up arms just to get the government’s attention.

“If not because I’m a lawyer, if I were living in the creeks, I would just form my own [group] too, so the government could just come and dialogue with me,” Ikimi said. “But there’s no sense in all this.”

President Muhammadu Buhari is winding down the amnesty programme, which was supposed to buy time for the government to develop the Niger Delta.

Despite being the source of Nigeria’s considerable oil wealth, the region is as impoverished as any other part of the country, with bad roads and unreliable electricity.

If the government wants to end militancy once and for all, Gbenekama said, it needs to keep its promise of developing the delta.

“These are aggrieved Niger Delta people,” he said. “Immediately [after] the issues of the Niger Delta are addressed, these criminal activities will end.”

The emergence of the candidate of the All Progressives Congress, Godwin Obaseki and his counterpart in the Peoples Democratic Party, Osagie Ize-Iyamu, for the September 10 governorship election in Edo… Page 18

FEATURES Protecting Military Bases

Chiemelie Ezeobi writes that the echoes of the 2013 bombing of the Nigerian Air Force base in Maiduguri, Borno State, has necessitated the need for the military to protect their bases Page 20

BUSINESS Credit Growth Likely to Weaken on Naira Depreciation Given the depreciation of the naira exchange rate and the liberalisation of the forex market, credit growth is likely to remain subdued this year, a report has stated.

Page 23

CITYSTRINGS Exploring TEEKY’s Wonderland VisitingTEEKY'sWonderland, a popular event centre in Lagos, was an eye opener to the giant strides the centre has made in ten years, report Godbless Eduviere and Peter Uzoho who covered its 10th anniversary recently Page 40

INTERNATIONAL Europe Presses Britain for Quick Exit to Limit Global Fallout Britain has been facing an angry calls from other European leaders to act quickly to resolve the political and economic chaos unleashed by its vote to leave the European Union which the IMF… Page 49

SPORTS Sports Ministry ProtestsVisa

Denial to U-17 Female B’ball Team Ministry of Sports has protested the denial of visa by the Spanish Embassy to the nation’s Under-17 Female BasketballTeam scheduled for an international…

Page 62

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WEDNESDAY, JUNE 29, 2016 • T H I S D AY

NEWS

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

Buratai Brands Persons Behind Dubai Properties Report ‘Internet Boko Haram Terrorists’ Revealed: Assets are timeshare properties owned by army chief and others Senator Iroegbu in Abuja As more Nigerians demand the probe of the Chief of Army Staff (COAS), Lt-Gen. Tukur Buratai, over his ownership of two properties in Dubai, United Arab Emirates (UAE), the army chief has branded those behind the report as the defeated Boko Haram terrorists who are now hiding behind the internet or cyberspace to continue with their attacks against the military institution and government of Nigeria.

Buratai stated this yesterday at the Army Headquarters, Abuja, while fielding questions from journalists during a press briefing on the activities lined up for this year’s Nigerian Army Day Celebration (NADCEL 2016) with the theme: “Optimising the Capability of the Nigerian Army to Meet Contemporary Security Challenges”.

An online news medium, Sahara Reporters had revealed that Buratai and his two wives own two properties, which they allegedly acquired at the cost of $1.5 million when he was the Director of the Nigerian Army Procurement.

But the report was stoutly denied by the army and Minister of Defence, Muhammad Mansur Dan-Ali, with both claiming that the properties were bought from Buratai’s savings long before he was appointed COAS, adding that he never headed the

procurement unit in the Nigerian Army, because it was only recently created under his command as COAS. They also maintained that Buratai had duly declared all his assets as required by law to the Code of Conduct Bureau (CCB) when he was elevated to the post of COAS and blamed Boko Haram apologists for the report, stating that it was intended to distract him from the war against terrorism in the North-east.

At yesterday’s press briefing, the army chief, who had earlier elected not to speak on the issue since both the federal government and the Nigerian Army had exonerated him, went ahead to state that terrorists, having been defeated on the field in the North-east, had now migrated to cyber space to carry out acts of mischief.

He vowed that the army would in the same manner it decimated Boko Haram, pursue the emergent “internet terrorists” in the cyberspace and defeat them.

According to him, the army has already marshalled out how to counter the narrative and the new strategies of those he tagged “cyber terrorists”.

He said: “I am not supposed to be commenting again on this issue because both the federal government and the army have addressed it.

Fani-Kayode, Nenandi Usman Arraigned, Remanded in Prison Davidson Iriekpen

The Economic and Financial Crimes Commission (EFCC) yesterday arraigned a former Minister of Aviation, Femi Fani-Kayode, before a Federal High Court in Lagos, for money laundering.

Fani-Kayode, who was also the Director of Media and Publicity of the Peoples Democratic Party (PDP) Presidential Campaign Committee for exPresident Goodluck Jonathan, was arraigned alongside former Minister of Finance, Nenandi Usman, and Danjuma Yusuf.

Also charged was a company, Joint Trust Dimension Nigerian Limited.

They were arraigned on a 17-count charge bordering on unlawful retention, unlawful use and unlawful payment of money in the tune of about N4.9 billion. They each pleaded not guilty to the charge.

After their arraignment, the prosecutor, Mr. Rotimi Oyedepo, prayed the court for a trial date, adding that he was prepared to proceed with trial.

Meanwhile, counsel to the first and second accused, Mr.

Ayo Adedipe, (SAN) and Mr. S.I Ameh (SAN), informed the court of a bail application filed on behalf of their clients.

Counsel to the third accused, Mr. Fred Orbih, however informed the court that he was yet to file his bail application on behalf of his client, Justice Sule Hassan in a short ruling adjourned the case to July 1 for hearing of their bail application.

The judge however, ordered the accused to be remanded in prison custody pending determination of their bail.

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.

“However, what I can say is that we have defeated the terrorists on the land and they have now migrated to the cyberspace.

“But I want to assure that we will follow these Boko Haram that migrated to cyberspace to wherever they are. We will follow them and clear their doubts.”

In the same vein, Buratai maintained that Boko Haram had been defeated, insisting that the group no longer holds any territory in the North-east.

He challenged anybody who had a contrary view to produce evidence to the contrary, clarifying however

that some terrorists who were either hiding in pockets by infiltrating some communities or looking for safe havens may cause havoc once in a while.

“Let’s be clear about this, no place or territory is being held by these terrorists. And of course you know that if terrorists are dislodged from one place they move to another even across borders. Right now we have received reports of the terrorists moving to other areas.

“And when we say that the terrorists have been defeated and not holding any territory, have they come out to debunk it. No, no one has come to

tell you that they are holding territory,” he asserted.

On the issue of several hostages still being rescued by the military, Buratai stated that most of them are those who refused to leave their communities because of their emotional attachment to them and were later held hostage by the terrorists who lived amongst them.

“These criminals infiltrated them to intimidate and hold them hostage but today, the situation is very difficult for them because we have blocked all their routes,” he added.

Speaking further, the COAS said the army followed due

process when it retired over 38 senior officers and advised those who felt aggrieved about it to approach the courts.

“We have followed due process and some of them have threatened to go to court. I think that is the best approach for them. Some of them have written and our legal department is responding and taking necessary steps,” he revealed.

On the rumoured coup plot, Buratai said the army was investigating to know the source of the news,

Cont’d on Pg 58

NICE TO SEE YOU

President Muhammadu Buhari (left), in a handshake with a former Minister of Industry, Chief Kola Jamodu, at the Presidential Villa...recently

PDP Crisis: Ojuogboh Emerges Sheriff’s Deputy Chairman Another batch of state chairmen visit Sheriff Onyebuchi Ezigbo in Abuja The crisis rocking the Peoples Democratic Party (PDP) witness another twist yesterday as the embattled National Chairman, Ali Modu Sheriff-led faction appointed one his loyalists, Dr. Cairo Ojougboh as the Acting Deputy Chairman.

Ojougboh was the immediate past National Vice Chairman, South-south of the party, but was removed at the last national convention held in Port Harcourt.

The letter of appointment signed by Sheriff and the former National Secretary, Prof.

Wale Oladipo read: “Please be informed that the National Working Committee (NWC) of the party in a meeting held on June 28, 2016, and having

received nomination from the Concerned PDP stakeholders (Abuja Convention Group) and major stakeholders in the South-south has appointed you (Ojougboh) as the Acting Deputy National Chairman of the party pending the conduct of election to fill the vacancy caused by the resignation of the erstwhile Deputy National Chairman. This appointment takes immediate effect.”

Sheriff had last week said his National Working Committee (NWC) would meet to appoint a someone from South-south as a replacement to Prince Uche Secondus who was the immediate National Deputy Chairman.

The Ondo State Chairman of the party, Prince Boroye Biyi who moved the motion for the

vote-of-confidence on behalf of the chapter chairmen said it was based on the fact that PDP has come back to life since Sheriff became the National Chairman.

The motion was seconded

by Alhaji Lawal Gana who said he is Yobe State chairman.

Sheriff also received some people who claimed to be PDP state chairmen sterday who visited him and passed a vote of confidence on him.

At a brief ceremony held at Protea Hotel, Asokoro in Abuja, Sheriff dismissed the claim that 24 party chairmen had endorsed Makarfi, adding that only 14 of them attended the meeting with Senator Makarfi.

He said those present at yesterday’s meeting were “authentic state chairmen” of

PDP, and accused the chairman of the Federal Capital Territory (FCT), Alhaji Yunisa Suleiman of lying to the chairmen that he was not around to receive them.

Sheriff admitted that he received a call from the FCT chairman but denied that he told him he would not be around to receive the chapter chairmen. According to him, 18 state chairmen were present at the meeting while two called that they would make it to the meeting. He dismissed the claim that 24 party chairmen endorsed Makarfi but only 14 of them.

Boboye explained that the chairmen had resolved to meet with both Makarfi and Sheriff so as to resolve the leadership crisis in the party.

WEDNESDAY, JUNE 29, 2016 • T H I S D AY

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NEWS

CBNWeighsSpecialFXWindowforBDCs Obinna Chima The Central Bank of Nigeria (CBN) is considering opening a special foreign exchange (FX) intervention window for operators in the Bureau De Change (BDC) sub-sector of the FX market, THISDAY learnt yesterday.

A reliable source, who disclosed this to THISDAY, said the CBN took the decision to resume dollar sales to the currency dealers through the special window so as to improve dollar supply to that segment of the market.

The new FX structure that was launched last week does not include BDCs in the framework.

As a result of this, BDC operators have been agitating for their inclusion in the new system. Confirming the development, the President, Association of Bureau De Change Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe, said his members held a meeting with CBN officials in Abuja on the matter.

“It is true. We resolved at the meeting that the CBN is going to open a special intervention window for BDCs and they also promised to consider admitting our members into the single market system so that BDCs can become active and operational,” Gwadabe said in a phone chat.

But also speaking in a phone chat, the acting Direc-

tor, Corporate Communications of the CBN, Mr. Isaac Okoroafor, said he wasn’t aware of the development.

Continuing, Gwadabe maintained that part of the role of BDCs is to ensure exchange rate stability.

“We assured the CBN at the meeting that we are going to work hard to ensure that the desired objective in the FX market is achieved. We have warned our members against speculative activities and we are going to punish anyone involved in it.

We are always a catalyst in the market because we serve a critical segment of the market,” the ABCON boss added.

Meanwhile, the naira depreciated against the dollar on the NIFEX yesterday as a result of the supply gap in the market.

Specifically, the spot rate of the naira fell by 83 kobo to close at N282.32 to a dollar, weaker than the N281.49 to a dollar it was at the end of business last Monday.

The CBN sold an undisclosed amount of dollars on the NIFEX yesterday in its bid to ease dollar shortages.

Also, the naira maintained its downswing on the parallel market as it dropped to N356 to a dollar yesterday; down from the N351 to a dollar it closed last Monday.

The CBN last Monday became the pioneer seller

Udo Udoma: Capital Releases will No Longer Be Automatic The Minister of Budget and National Planning, Senator Udoma Udo-Udoma, has said capital releases will no longer be automatic as they will depend on Ministries, Departments and Agencies (MDAs) meeting performance indicators.

Udo-Udoma said this at 2016 Annual Public Lecture of the Nigerian Economic Society (NES) yesterday in Abuja. He said the ministry had developed a robust monitoring and evaluation framework for effective monitoring of 2016 budget.

“We believe that with all these measures, we will succeed in turning the economic crisis into an opportunity to restructure and reposition our economy for growth and prosperity.

“In this way, we will deliver the economic change we promised Nigerians,’’ the minister said. Udo-Udoma said that the 2016 budget was designed to help in the amelioration of some economic challenges in the country.

“It signals the determination of the administration to create a diversified economy that is no longer dependent on crude oil proceeds.

“The budget, which has outlay of N6.06 trillion and capital expenditure of N1.79 trillion (29 per cent of total budget), is aimed at reflating the economy.

“It is also aimed at creating jobs for our teeming youths as

well as supporting the vulnerable groups,’’ he said.

The minister, however, said that the administration was committed to strengthening the link between its plans and budgeting processes to ensure better implementation of its projects and programmes.

“We are committed to inclusive development which explains the unprecedented allocations of N500 billion to social investment projects in the 2016 Budget of Change,’’ he said.

Earlier, President of NES, Prof. Ben Aigbokhan said in the 1960s up to mid-1980s, there was deliberate effort to make plans serve as guide to development programmes and policies. Aigbokhan said there was visible link between plans and annual budget, noting that it was the era which held much prospects for Nigeria migrating from third to first world group within two decades.

“The period from mid-1980s to early 2000s witnessed the weakening and eventual disconnect between plans and budgets.“Attempts to return to the link led to the design of the NEEDS and Vision 20:2020 development documents.

The News Agency of Nigeria (NAN) reported that the topic of the lecture was entitled, “Strengthen Budget – Plan Link for Inclusive Development in Nigeria.’’

on the naira-settled Over-theCounter (OTC) FX Futures contracts on the FMDQ OTC Securities Exchange.

CBN Governor, Mr. Godwin Emefiele, had said part of the objectives

of the new framework was to discourage people from front-loading or hoarding FX due to uncertainty.

Emefiele said the new FX framework would allow the market to operate as

a single market structure through the interbank/ autonomous window, while the exchange rate would be purely market-driven using the Thomson-Reuters Order Matching System as well as

the Conversational Dealing Book.

He said the CBN would however participate in the market through periodic interventions to either buy or sell FX as the need arises.

RECOGNITION

L-R: Chairman, Board of Director, Bridge House College, Ikoyi, Dr. Alimi Abdulrazaq; Executive Director, Mrs. Foluke Abdulrazaq; and Best Behaved Student, Miss. Victoria Seyon Aholu, receiving the college’s award from the Chairman of the occasion, Mr. Leo Stan Ekeh, during the 12th annual graduation ceremony of the school in Lagos...yesterday KOLA OLASUPO

National Conference Report: Akinyemi Berates SGF for Calling Delegates ‘Boys’ Gboyega Akinsanmi The agitation for the implementation of the 2014 National Conference Report yesterday assumed a new dimension as the conference’s Deputy Chairman, Prof.

Bolaji Akinyemi, yesterday faulted the Secretary to the Government of the Federation (SGF), Mr. Babachir David Lawal, for describing eminent personalities that represented different constituencies at the 2014 conference as “boys.”

In a statement he issued in Lagos yesterday, Akinyemi, a former Minister of External Affairs under the General Ibrahim Babangida’s administration, expressed disappointment with the Lawal’s interview on Monday, noting that he found the language in which SGF’s views “are couched to be crude, rude, offensive and unbecoming of the high office of state he occupies.”

The former minister said though he had no quarrel with the SGF stating the opposition of the President Muhammadu Buhari’s administration to the conference, he however, expressed disappointment at the SGF’s description of the delegates as “boys.”

In a two-page statement he personally signed, the former minister disclosed that he would never plead with the President Buhari administration to consider the implementation of the report of the 2014 conference for different reasons.

He therefore, left a strong warning note for the Buhari administration on the position it had taken on the conference report already, noting that governments “come and governments go.

The problems will remain.

We will all be judged by whether we were part of the solution or part of the problems.”

As a matter of principle, Akinyemi explained why he refrained from playing an advocacy role vis-à-vis the position of the Buhari government as regards the report of the conference, which ended in August 2014.

In reference to the interview the SGF granted on Monday, Akinyemi said describing delegates to the 2014 conference as “boys” actually denigrated the high office, which he said Lawal was currently holding.

He wondered such eminent personalities as the Emir of Ilorin, the Lamido of Adamawa, King Alfred Diete Spiff, the Gbong Gwom of Jos, Emir of Yauri, Emir of Dutse, Emir of Askira, the Amanyanabo of Nembe, various judges of the High Courts could be referred to as “boys” just because they took part in the conference.

He named others delegates toAkinyemi, thus, challenged the SGF to dig into the files and find out what the administration of President Goodluck Jonathan paid each delegate rather than depend on rumours or speculations.

FG to Extend Maternity Leave to 18 Weeks Aisha Buhari supports exclusive breastfeeding Paul Obi in Abuja In an effort towards promoting exclusive breastfeeding, the federal government yesterday said plans are underway to extend the maternity leave period from 16 weeks to 18, in order to enable nursing mothers dedicate themselves to exclusive breastfeeding.

The Minister of Labour and Empowerment, Senator Chris Ngige, stated this during the Lancet Breastfeeding Series and High-Level Policy Dialogue on Promoting Breastfeeding for National Development in Nigeria.

This came as the wife of the President, Hajia Aisha Buharil, also threw her weight behind exclusive breastfeeding.

Mrs. Buhari assured the gathering that she was committed to Abuja breastfeeding declaration, stating that the state of child mortality in the country was unacceptable.

Ngige however maintained that the extension was in line with the International Labour Organisation (ILO) and international best practices in maternal-child health.

Lagos State was the first in the country to have extended maternity leave in the country.

Nursing mothers are allowed 24 months maternity leave in Lagos. Ngige who appeared as one of the panelists at the breastfeeding programme, also said his ministry would soon issue a memo to all categories

of government agencies and private institutions to have recreational centres that would facilitate the breastfeeding of babies by their mothers.

He said: “First and foremost, today, we have in Nigeria official government policy at the national level which is adopted by many states, which is the maternity leave of 16 weeks. Twelve weeks when the pregnancy period has stopped and one month of you annual leave, you combine and that give you 16 weeks, that is what we have now. And, it is a little bit difficult because the ILO prescription is 18 weeks.

“There is Article 183 is a convention, countries signed it, then it is domesticated in your country, and your country makes it a law.

Nigeria did not domesticate that policy here. But, in the main, I think the Nigerian government and because we have very bright women coming to head civil service, they have all been trying to comply with that convention. That is why today we have the issue of nursing mothers leave their place of work early. They are supposed to have a time break for lactation. And, that break for lactation, unfortunately what is obtainable today is that they combine all and leave their place of work early.

Whether they now use it for lactation or another business, they could use it and go and do something else.

WEDNESDAY, JUNE 29, 2016 • T H I S D AY

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NEWS

You Have No Power to Remove Me, Ikpeazu Challenges Abuja Judge on Appeal Tobi Soniyi in Abuja Abia State Governor, Dr. Okezie Ikpeazu, has filed an appeal against the judgment of a Federal High Court in Abuja which removed him from office as governor.

In the notice of appeal filed

by Chief Adegboyega Awomolo (SAN), the governor raised five grounds of appeal and asked the Court of Appeal to set aside the judgment and orders of the high court.

The governor said the court lacked the power to order him to vacate the seat of Abia State governor.

The notice of appeal read: “The trial judge erred in law when he ordered as a consequential order that the appellant vacates his office as the Governor of Abia State immediately when there was no jurisdiction in the Federal High Court to remove, vacate the occupier of the office of the governor of a state or order the removal of such officer after the unsuccessful challenge of the result of the election at the tribunal and swearing in of the appellant as the governor.”

The governor said the only power, authority and order exercisable by the Federal

High Court was to disqualify the candidate from contesting the election based on section 31(6) of the Electoral Act 2010.

Ikepazu also faulted the judge when he held that he did not pay his tax for the years 2011, 2012 and 2013, at when due, when he was a public officer whose tax deduction was under Pay As You Earn (PAYE) scheme where tax deductions were from the source of his monthly salary by the tax authorities who issued all the tax receipts and certificates.

He also said the Abia State Board of Internal Revenue Services that issued him with the tax certificates had not declared the certificates forged and that the trial court did not invite the issuing authorities to give evidence in the course of the trial.

Ikpeazu said that the plaintiff, Dr Samson Udechukwu Ogah was not a staff of the Abia Board of Internal Revenue and did not any staff of the board to testify that the tax certificates were forged.

He accused the trial judge, Justice Okon Abang of violating his right to fair hearing by embarking on judicial investigation without giving him (Ikepazu) the opportunity to address the

court on the issue.

The notice of appeal also states: “The learned trial judge erred in law when he held that the appellant presented false information to the Independent National Electoral Commission by his indigenous meticulous study and investigation of documents filed in courts in the recess of his chambers and thereby violated the right of the appellant to fair hearing.”

The governor said the judge had no duty to investigate the contents of documents dumped

on the court in the recess of his chambers with a view to finding for the plaintiff.

“The decision of the judge which arose from the judicial investigation without opportunity to the appellant violated the appellant’s right to fair hearing,” the governor said.

He also rejected the decision of the high court declaring him unqualified to be nominated at the primary election conducted by his party bail false information was supplied to INEC.

According to him, INEC Form CF001 which the judge relied on was not one of the grounds of qualification to contest the primary election of PDP. He said the judge misconceived the presented by the parties and thereby arrived at a wrong conclusion which occasioned a grave miscarriage of justice.

Meanwhile, the governor’s party, the PDP has also rejected the judgment and filed a separate appeal.

The party said the trial court erred in law when it held that it had jurisdiction to hear the suit which was on whether section 24 (f) of the 1999 Constitution was complied with.

It said: “The honourable trial court misdirected itself when it construed the provisions of the PDP constitution to the detriment of the appellant without giving the appellant a chance to be heard and thereby occasioned miscarriage of justice.”

Ogboru, Ochei, Others Join APC Onyebuchi Ezigbo in Abuja Former governorship candidate for Delta State on the platform of the Labour Party (LP) in the 2015 poll, Chief Great Ogboru, yesterday formerly defected to the ruling All Progressives Congress (APC).

He was received by the National Chairman of the party, Chief John Odigie-Oyegun yesterday with a former Speaker of the Delta State House of Assembly, Mr. Victor Ochei as well as others stalwarts of the Labour Party.

The defection is coming on the heels of moves by members of the APC National Coalition for Peace and Mobilisation (NACOPEAM) to facilitate the return of the erstwhile Chairman of the Economic and Financial Crimes Commission (EFCC), Malam Nuhu Ribadu, to the party.

Ogboru who was warmly received by the Oyegun-led members of the National Working Committee (NEC) at the national secretariat of the party in Abuja, pledged to work tirelessly to ensure the success

of the President Muhammadu Buhari-led APC administration.

Ogboru blamed the Peoples Democratic Party (PDP) for the rot witnessed in Nigeria and Delta State in the last 16 years.

He, however, expressed optimism that with the coming his group into the APC, the party will no doubt upstage the Governor Ifeanyi Okowa-led PDP administration in the state.

Among the chieftains of the party that accompanied Ogboru were the Delta APC governorship candidate in the last general elections, Chief

Omerhor Ortega, and rights activist, Chief Frank Kokori and the former Speaker Delta State, Mr. Victor Ochei, and dozens of chieftains of the Labour Party and Accord Party in the state.

On his part , Ochei commended the performance of the Buhari-led administration, adding that it is heartwarming that the average Nigerian is having the faith that the country is now in a safe hands.

While welcoming the new entrants to his party, Oyegun described it as one of the happiest moments of his life.

T H I S D AY WEDN ESDAY JUNE 29, 2016

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T H I S D AY • WEDNESDAY, JUNE 29, 2016

COMMENT

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

IS THE EUROPEAN UNION DYING? Brexit reinforces the right to self determination, argues Sonnie Ekwowusi

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eath is inevitable. Persons, nations, multinationals, supra-nationals, international organisations and institutions are subject to mortality. They only exist for a time and then die. I think this is a convenient philosophical standpoint from which to reflect on the dramatic exit of the United Kingdom from the European Union and the resultant resignation of Prime Minister David Cameron last week. In his resignation speech, Cameron surprisingly alluded that one of his achievements as prime minster was the promotion of homosexualism in Britain. I find this allusion laughable.

The upsurge in gay activities in United Kingdom under Cameron is not an achievement to be proud of. Cameron should be ashamed that he ran a gay government.

Anyway I agree with Cameron that Brexit is a triumph of the popular will and participatory parliamentary democracy. Brexit reinforces the argument that the right to self-determination is an enduring ingredient of modern politics. You cannot force an unwilling people to stay in a contraption detrimental to their collective survival.

But the question is: Is Brexit a prelude to the death of the European Union? In global politics, political events in one country could trigger off some events or may ignite series of effects in other countries. For example, Mikhail Gorbachev’s meeting with some world leaders on December 22, 1989 or thereabout acted as the catalyst that not only led to the sowing of the seeds of perestroika and grasnost but the dramatic crumbling of the Berlin Wall.

The fall of the Berlin Wall, on the other hand, produced some democratising effects in Germany, Hungry, Yugoslavia, Bulgaria, Albania and other countries.

In the same vein, Brexit is bound to act as catalyst that would compel the remaining European Union members to re-negotiate their membership of the union or even quit. As a member of the EU, the United Kingdom was the second largest force and elixir of life in EU. Now without the UK, the EU has not only become an orphan but faces the risks of internal revolts and disintegration.

From the reactions of world leaders to Brexit, it is obvious that unless immediate changes and reforms are introduced in the EU, Czech Republic, Netherlands, Austria, Denmark, Greece, Spain and other nations are likely to join France in conducting their respective referendums that may show them the way out.

And if the EU breaks up, there will be independent thinking countries which will no longer be acting as a bloc. It will engender political disunity in Europe.

America will be worse off. Although President Barack Obama has said that the UK outside the EU will be a great trading ally of the United States, it is obvious that a break-up of the EU will negatively work against the interests of United States. First, the US will lose its lobbying power. It is easier for US to win the lobby of EU than the lobby of independent thinking and single-minded

BREXIT IS BOUND TO ACT AS CATALYST THAT WOULD COMPEL THE REMAINING EUROPEAN UNION MEMBERS TO RE-NEGOTIATE THEIR MEMBERSHIP OF THE UNION OR EVEN QUIT

European countries. For example, the EU is under the easy manipulation of the US at the United Nations. But with the break-up of the EU the US will have to lobby each European country anytime it wants resolutions on military intervention, immigration issues, gay “rights” matters and so forth.

The greatest lesson, for me, in the exit of the UK union is that despite all the fruits to be reaped from belonging to supranational organisations or unions such as the EU, most nations are now more interested in protecting their economic freedom and all that they hold dear in order to gain more strength and benefits.

And in the event of a conflict between domestic projects and supranational projects, the latter prevails to the extent of the inconsistency. Britain might have fallen in love with the EU project but her love for the British project far supersedes and takes precedent over the EU project.

Certainly Brexit is a big lesson to African countries trading off their economic liberty and sovereignty for a plate of porridge. Despite wresting political independence from their erstwhile colonial masters, the economic systems and political policies of many African countries infatuated with foreign aids are still tied to the apron strings of the World Bank and powerful European and multinational organisations. This is very unfortunate. In his book, “Emerging Africa,” former Central Bank’s Deputy Governor Dr. Kingsley Chiedu Moghalu brilliantly highlights how foreign aids have underdeveloped Africa and why foreign aids are not the panacea to Africa’s myriads of socio-economic and political problems. Moghalu wonders why African leaders have not woken up to the reality that the so-called billions of dollars doled out to many African countries by their so-called western development partners “have failed to produce any significant development leaps in Africa, and many aid-dependent African countries are poorer today than they were a half-century ago”. He regrets that foreign aids in Africa have many strings attached to them. “Much of the foreign aids, then, is about giving with the right hands and taking back with the left what is presumed to have been given”, he writes. According to Kwame Nkrumah Ghana, “The result of neo-colonialism is that foreign capital is used for the exploitation rather than for the development of the less developed parts of the world. Investment under neo-colonialism increases rather than decreases the gap between the rich and the poor countries of the world….”

Therefore the Muhammadu Buhari government should not succumb to the allure of foreign aids that will put Nigeria in economic shackle. Brexit testifies that it pays for a country to untangle itself from any relationship capable of compromising its economic liberty and all that it holds dear.

TRANSITIONING TO STABILITY

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The Rivers State Government is entering into new development partnerships for the good of the people, writes Simeon Nwakaudu

ollowing Governor Nyesom Ezenwo Wike’s first year remarkable performance, the governor has started working towards a more glorious second year in office with the strategic development of critical infrastructure and partnerships that will further galvanise the economy of the state for the good of the people.

As a pragmatic leader, the governor has gone back to the field monitoring and evaluating the progress of work at different project sites across the state ensuring that the people get value for the money invested in these projects.

This technique which led to the successes recorded in the governor’s first year will yield better results in the second year.

On Friday, June 24, 2016, Governor Wike accompanied by top government officials at the state and local government levels visited two key projects. He inspected ongoing reconstruction of the Igwuruta-Chokocho road which cuts across Ikwerre and Etche Local Government Areas. This road which connects the food basket local government area to the rest of the state is a federal road that leads to Imo State.

The road was abandoned, and the

people of Etche Local Government Area cut off from the rest of Rivers State and the economy of the area degraded in the process. As at June 24, 2016, Governor Wike has completed the first phase of the project. The last stretch is being concluded.

Same day, the governor monitored and evaluated preliminary evaluation works at the Port Harcourt Pleasure Park under construction. This project which is the first of its kind in the country is expected to engender growth in the economy of the state and provide recreation of thousands of Rivers people and Nigerians from all walks of life.

Governor Wike stated that the Port Harcourt Pleasure Park will transform the economy of the state as it will be a major revenue earner when completed.

He added that the park will attract tourists from within and outside the country.

The governor noted that holiday makers from the state who hitherto travelled out of the country for their vacations will after the completion of the ultra-modern facility, patronise it.

On Saturday, June 25, 2016, the governor was again on the field to inspect the pace of work at project sites. On this day, he criss-crossed Port Harcourt City,

Gokana, Khana, Obio /Akpor, Eleme and Ikwerre Local Government Areas of the state.

While he was impressed by the quality of work at the dualisation of the Woji-Akpajo road, the governor was unimpressed with the pace of work on the Saakpenwa-Bori road leading to the heartland of the Ogoni ethnic nationality and the performance of the contractor handling the reconstruction of the Professor Tam David -West Boulevard also known as the Obiri-Ikwere road.

Unhappy with the performance of the contractors, the governor threatened to revoke the two road contracts and recover state funds. It is believed that the governor’s proactive action will quicken the pace of work on the roads as he has met with the contractors, the works commissioner and the state acting director of procurement to reiterate his warning.

In line with his desire to partner with relevant stakeholders to further build the economy of the state, the governor in the last two weeks entered into partnership with the Nigeria Medical Association, the United Nations Children Fund, (UNICEF) the Nigerian Institute of Architects, PABOD Breweries and the National Union of Petroleum and Natural Gas

Workers to deliver benefits to the people of the state in different strategic sectors.

As his meeting with the leadership of the Nigerian Medical Association, Rivers State chapter, the governor and the medical professionals agreed to collaborate towards reviving secondary healthcare facilities across the state. Similarly, the governor reached a consensus with the UNICEF to work towards the reduction of newborn and maternal mortality to the barest minimum in the state.

Recreating Port Harcourt as a beautiful city where all manner of businesses will thrive in a peaceful atmosphere formed the crux of the relationship that Governor Wike fostered with the Nigeria Institute of Architects led by its National President, Mr. Tonye Oliver Braide.

His meeting with the NUPENG President, Comrade Igwe Aches and his executives centred on the development of a tankers village/tank farm at Eleme Local Government Area where the state government will collaborate with the union to generate mass employment and empower the people.The partnership between the Rivers State Government and Pabod Breweries also centred on job creation.

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T H I S D AY • WEDNESDAY, JUNE 29, 2016

EDITORIAL THE TASK BEFORE IGP IDRIS

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The new police boss should strive to restore confidence in the force

resident Muhammadu Buhari last week appointed Alhaji Ibrahim Kpotum Idris as the acting Inspector General of Police. During the handover ceremony between him and his predecessor, Mr. Solomon Arase, Idris sounded the right note and defined the direction of his leadership. “We will do everything possible to ensure that we provide the best service to this country,” he declared. “Under my leadership, the police will be governed by internationally recognised core values of policing. We will ensure that our streets, neighbourhoods and communities remain safe.”

Apparently embarrassed that despite the gallant efforts of his predecessor, corruption is still rife and has indeed eroded the image and confidence of the public in the police, Idris vowed to address the issue of integrity and accountability in the force. “We will make sure that our police officers are accountable to the people.

I am assuring you that every police officer from my rank to the assistant superintendent of police must declare their assets,” he pledged. The new IGP has also set for himself IT IS NOTEWORTHY THAT the task of making the IDRIS RECOGNISES THE police work, devoid NEED TO RESTORE THE of impunity and TRUST OF NIGERIANS IN conducting diligent THE POLICE. TODAY, A investigations that FORCE THAT OUGHT TO BE would lead to diligent A FRIEND IS PERCEIVED prosecution and MORE AS A FOE AND eventual convictions TREATED WITH SUSPICION of criminals.

While we congratulate Idris on his elevation, we must also remind him that there is no promise that he is making now that his predecessors did not make; yet it is doubtful if any of them left with their heads held high. It is therefore important for Idris to recognise that he is taking the office as IGP at a very difficult time, both in our nation’s history and that of the police force he now leads.

As many Nigerians have observed, after the Nigerian civil war, never has the security of the nation

Letters to the Editor

degenerated in this manner, almost to the point where Nigeria is now practically at the edge of the abyss. No place is safe and no time is sacred: the “enemy” strikes with regularity. Everywhere in the country today, there is the pervasive sense of fear and insecurity. Armed robberies, kidnappings and other allied crimes have painted a picture of a country practically at war with itself.

Even though the nation’s armed forces have recently made remarkable gains against the Boko Haram insurgents, they still constitute a grave danger to the polity. The renewed militancy in the Niger Delta is crippling the economy, particularly because of their costly oil infrastructure damage. In addition, the Indigenous People of Biafra (IPOB) once in a while holds the entire southeast to ransom while some Fulani herdsmen are on the rampage, maiming, killing and causing general unease across the nation.

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

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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.

PRESERVING THE DIGNITY OF THE NIGERIAN CHILD

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he need to promote and uphold the dignity of the Nigerian child cannot be overemphasised because the child eventually becomes the adult of tomorrow. As the saying goes, ‘the child is the father of the man’; life is a cycle.

As the child grows, his life experiences, actions and inactions of others, treatment meted out to him and values imbibed all cumulate to determine who he becomes as an adult. These are the things that eventually form the character of the child, shape his perception, understanding, beliefs, ideals, goals and values. How he is treated as a child determines to a large extent what he becomes and how he reacts to people and situation around him. The life he is exposed to, the environment he grew up in, the quality of education he acquires and a host of other factors are all major elements that informs his personality.

Consequently, being a product of the society, children naturally give back to the society what has been deposited in them. Self worth, dignity, self love and respect are elements of a healthy personality.

The development of a healthy personality cannot be achieved outside a conducive and loving environment. There is a saying that you can’t give what you don’t have. A child that lacks the true element of a healthy personality will grow up into an adult without character. The value we place on the child

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et the police whose officers and men are supposed to be at the epicentre of restoring law and order within our national territory appear also besieged and almost incapable of performing its onerous constitutional responsibility. Thus, the major task facing the new IGP is to restore a measure of order and help calm frayed nerves, not only for the ordinary citizens but also within the rank and file of its own members.

It is particularly noteworthy that Idris recognises the need to restore the trust of Nigerians in the police.

Today, a force that ought to be a friend is perceived more as a foe and treated with suspicion, and sometimes derision. It is also important that the IG has pledged serious attention to the welfare of police officers and other issues that affect their performance.

The security of the nation cannot be entrusted in the hands of hungry and ill-equipped men.

With 32 years experience in the force, and a tour of duty in various commands and formations - both local and international - IGP Idris comes to the job highly qualified. We wish him the best in his new assignment.

says a lot about the value we place on ourselves as adults.

A child is a personality with feelings, emotions and rights which must be recognised and respected.

These rights protect the child as a human being while taking into consideration his fragility and appropriate needs that will help him develop into a healthy adult. The prevalent flagrant disregard for the rights of the child in the Nigerian society is a cause for serious concern, as we are daily inundated with gruesome tales of child right abuse in homes, schools and the society in general. The abuse ranges from rape, molestation, child labour, torture and victimisation to abduction and trafficking.

It is unfortunate that the home, school and society that should be a haven of love, promotion and enforcement of the child’s right have turned to places of abuse. The level at which the rights of the child are being abused is appalling and shocking.

How do we explain a situation where a child is raped by the father, who is meant to be the first line of defence for the child? Mothers are not left out, as in most cases they are silent onlookers, while some have abdicated their responsibilities for the pursuit of mundane things. The protection of the child’s rights must begin from the home which is an essential unit of socialisation.

Temilade Aruya, Ministry of Information & Strategy, Alausa, Lagos

P

AREGBESOLA NOT A FAILURE

lease permit me to correct the completely false impression created by the news report titled “Osun Students’ Mass Failure Proof of Aregbesola’s Failure – PDP” credited to the Peoples Democratic Party’s publicity secretary in Osun, Mr Sunday Bisi.

Aregbesola is not a failure by any standard. He has succeeded in agriculture, public infrastructure, job creation, culture, security and even in education where he invested mostly in.

While no one is proud of the state’s position on the 2015 WAEC result table, the result is an improvement on what the Rauf Aregbesola administration inherited from the immediate past PDP administration in Osun. Figures don’t lie.

Check this out. In 2007, the PDP government put forward 36,171 candidates for WAEC examination out of which 2,483 representing 6.86 per cent had credit pass in five subjects, including English and Mathematics. In 2008, it was 37,715 candidates with 3,813 pass, representing 10.11 per cent. In 2009 it was 39,676 candidates, with 5,545 pass, representing 13.98 per cent. In 2010 it was 43,216 candidates, with 6,777 pass, representing 15.68 per cent. These four years gave us an average of 13.26 per cent.

However, Aregbesola’s administration started sponsoring candidates for WAEC in 2011. That

year, it fielded 53,293 candidates, had 11,672 pass, representing 21.98 per cent. In 2012, it fielded 51,463 out of which 11,431 passed, representing 22.21 per cent. In 2013, it also fielded 47,013 candidates, recorded 9,301 pass, representing 19.78 per cent. In 2014, the Aregbesola administration sponsored 47,672 candidates, 9316 of them passed, representing 19.54 per cent. In 2015, Aregbesola’s government sponsored 48,818 candidates, out of which 8,801 passed, representing 18 per cent.

The average performance for Aregbesola’s first five years was 20.3 per cent. Compared with the average performance of 13.26 per cent of the three years that preceded this administration, the percentage improvement in performance during his tenure is 53.09 per cent. As revealed by the data, the worst performance of Aregbesola, at 18 per cent, is still better than the best of the previous PDP administration, which was 16.68 per cent.

The last two years result is attributed mainly to teachers’ strike, lasting seven months and it could have been worse, if not for the e-learning tablets containing 57 recommended textbooks, a test zone and virtual classroom, given to the final year pupils.

Aregbesola’s administration is constructing brand new 100 elementary schools, 50 middle schools and 20 high schools in the state.

Sola Fasure, Osogbo, Osun State

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T H I S D AY WEDN ESDAY JUNE 29, 2016

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MIDWEEKPOLITICS

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

THE NEWSMAKER

Let the Edo Battle Begin…

The emergence of the candidate of theAll Progressives Congress, Godwin Obaseki and his counterpart in the Peoples Democratic Party, Osagie Ize-Iyamu, for the September 10 governorship election in Edo State, has no doubt set the stage for what is obviously a two-horse race, writes Davidson Iriekpen

W

ith the conclusion of the primaries to elect the standard bearers in the two major political parties for the September 10 governorship election in Edo State, there is no doubt that the stage is set for contest to begin.

While Godwin Obaseki emerged candidate of the All Progressives Congress (APC), the main opposition party, the Peoples Democratic Party (PDP), settled for Osagie Ize-Iyamu. Although there have been discontents in both parties since the emergence of both candidates, it is obvious the two parties might have moved on as far as their choices are concerned.

Obaseki was the Chairman of the state’s Economic and Strategy Team inaugurated by Governor Adams Oshiomhole in March 2009, while Ize-Iyamu, a pastor in the Redeemed Christian Church of God (RCCG), is former Chief of Staff and later Secretary to Edo State Government in the Lucky Igbinedion administration from 1999 to 2003.

There is no doubt that with the conclusion of the primary elections, the stage is set for the two candidates in the race, who incidentally are Binis to put all their electoral arsenal at work for the September 10 duel. The Binis, with seven local government areas, constitute about 50 per cent of the population of the state.

There is no doubt that while the APC, which has been in power for the past seven and a half years, may want to consolidate by striving to win the election, the PDP which previously ruled the state for nearly 10 years and now hungry for power, would try everything humanly possible to reclaim the state’s plum job.

While Oshiomhole and other APC stakeholders in the state might boast of victory come September 10, there is no doubt that the emergence of IzeIyamu, who is largely seen as well-rooted in the politics of the state as the PDP candidate, makes them uncomfortable. The impression in some quarters is that the PDP candidate, having served as Director-General for the Oshiomhole Campaign Organisation during his second term bid for the governorship seat, understands the workings of both the APC and the PDP. A school of thought believes that he would put his wealth of experience to use during the electioneering process, even though there is a counter belief that Obaseki’s position too puts him in vantage edge in terms of policy and administration, having helped to deliver the present administration.

But the governo dismissed this fear last week, when he said the opposition party would not constitute any threat to his party winning the state on September 10. Speaking after Obaseki’s emergence, Oshiomhole said: “Our delegates have spoken. Now, the party will hit the ground running. There is no PDP in the state. Which of the factions? We have one body with several heads, even when they were in the federal we defeated them with all their federal might. So, there is no PDP as long as I am concerned.

“For me, they are lighter than a loaf of bread.

But we will go to the election with the hope that there are other parties in the state. PDP is not an issue. I don’t think Edo people will forget PDP’s crimes in a hurry. Not for the next 20 years in this state. Even when you ask young boys and girls in the state, who is responsible for this bad school, they would say it is PDP. “Who is responsible for this bad hospital, they say it is PDP. Who is responsible for this bad road, it is PDP. Who is responsible for this good road, it is APC. Even children know that. By the time they become 18, they will continue to vote APC and vote against PDP. We have no fear at all. In fact, we will do better in the next election and kick them out of existence.”

Obaseki...APC’s ace card.

Ize-Iyamu...PDP’s winning joker

With the electioneering now in progress, those against Obaseki believed that Oshiomhole’s preference for him is to cover his tracks and reintroduce god-fatherism into the politics of the state, which he did everything possible to exterminate in the state, when he assumed power in 2008. They also believed that if the Oshiomhole/Obaseki governorship deal works out, Obaseki, as the governor of Edo State, would pander to the whims and caprices of his godfathers.

On the hand, those against Ize-Iyamu accused him of political prostitution, having moved from the PDP to the APC and back to the PDP, and the fact that he once served under a government that left the state worse than they met it between 1999 and 2007.

On the other hand, many observers believe that the APC, which has been in power and also controls the centre would seek to up its game by hinging its campaign on Governor Oshiomhole’s performance in office. Also, considering the nature of the nation’s politics, some are tempted to believe that the party may benefit from its control of the government at the centre.

Besides, there are those who argue that the Binis had in the past lamented their exclusion from national patronage as a result of the state being in the opposition party. The sentiment in some quarters now is that the APC controlling the central government in Abuja and headed by a Bini son, Chief John Odigie Oyegun, as its chairman, would serve the interest of the people better.

But those against the party in the state are arguing that there is nothing special about Oshiomhole’s performance. They accused the state government of massive corruption in the awards of contracts and of running a one-man government. They also accused Oshiomhole of running an authoritarian government, where every decision and approval comes from him.

But whatever argument observers put forward, many believe that the two main parties would have a lot of issues to campaign with, both for and against, and ultimately, the fate of the candidates will be decided by the electorate.

“The people of Edo State are totally disenchanted with Oshiomhole for his draconic and authoritarian style of governance. He alone knows everything. He constantly talks down on people, he bullies and harasses everybody. Come to the

state and hear what the people are saying about their governor they once loved, you would be shocked and ashamed. Now, nobody wants to see or touch anything he stands for because he has failed the people,” said a member of the Ize-Iyamu campaign organisation.

Perhaps, this was why Ize-Iyamu recently challenged Obaseki to a robust campaign. The PDP candidate, while congratulating his opponent on his nomination as the APC standard bearer, said he looked forward to meeting him on the field on issue-based campaign that would seek to address hunger, poverty, crimes and unemployment in the state.

The PDP candidate wondered why Oshiomhole was still acting as if he was seeking a third-term in the office. According to a statement by his campaign organisation, “A week after Obaseki emerged as the candidate of the APC, it is interesting to note however that Oshiomhole still speaks as though he is the candidate running for elections. Is Obaseki not a grown man? Why can’t he begin to speak for himself or is this a sign of things to come?’’

He advised the electorate to thoroughly scrutinise the candidates soliciting for their votes before deciding who to support, adding that Edo State would stoutly reject a puppet being sponsored by Oshiomhole in conjunction with some external investors for their selfish interest.

Ize-Iyamu said he was ready to submit himself for any scrutiny and ready to defend all his activities in the past. He also described the recent statement credited to Oshiomhole that the anti-graft agency would abort Ize-Iyamu’s governorship aspiration as unfortunate, saying he was being driven by fear of Ize-Iyamu emergence.

However, one of the steps that the two candidates need to urgently address to be in good stead would be how to successfully resolve the grievances of those, who lost out in the primaries.

In the APC, for instance, announcement of Obaseki as the standard bearer of the party had provoked other aspirants such as Chris Ogiemwonyi and Kenneth Imansuangbon, who alleged that the figures credited to Obaseki were electronically manipulated.

At a joint press briefing they held a day after the primary election in Benin City, they both called for total cancellation of the entire result.

They also called on the national leadership of party and the Primary Appeal Panel to order a

The impression in some quarters is that the PDP candidate, having served as Director-General for the Oshiomhole Campaign Organisation during his second term bid for the governorship seat, understands the workings of both the APC and the PDP. A school of thought believes that he would put his wealth of experience to use during the electioneering process, even though there is a counter belief that Obaseki’s position too puts him in vantage edge in terms of policy and administration, having helped to deliver the present administration repeat election, as well as the forensic analysis of all the ballot papers, and finger prints on the ballot papers, because according to them, the ballot papers used for the primaries had been compromised.

Besides, they accused agents of the state government led by Oshiomhole of victimising party officials and delegates, before and during the party primaries, whom they perceived of not being in support of alleged imposition of Obaseki.

For instance, Ogiemwonyi and Imansuangbon claimed that some of these victimisations include the illegal suspension of some ward chairmen, the unlawful removal of Orhionmwon local government party chairman, Mr. Matthew Ehigie and the unlawful suspension of APC Edo South senatorial chairman, Mr. Gentleman Amegor.

They also cited attempts by the same agents of the state government to substitute names of authentic delegates for the primaries, a manner, both noted, subverted the conduct of a peaceful, free and fair primaries.

Similarly, in the PDP, the two other aspirants, who contested the party’s ticket with Ize-Iyamu, Matthew Iduoriyekemwen and Chief Solomon Edebiri, staged a walkout of the stadium before the results were declared. They rejected the exercise, alleging that the leadership of the party in the state led by Chief Dan Orbih threatened delegates to vote for Ize-Iyamu or they would be removed as delegates.

Edebiri said the exercise was a conspiracy by the leadership of the party in the state to impose Ize-Iyamu, adding that “Orbih threatened few weeks ago that he would make sure that I do not get the ticket because he accused me of working against him during party chairmanship congress.

He promised that he would ensure I do not get the ticket. Last week, he started giving directives to party leaders to deliver.”

While the two parties have set up committee to address these grievances, considering the way and manner politics is played in this part of the world, the possibility of mass defection cannot be ruled out on both sides, depending on how the issues are resolved.

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MIDWEEKPOLITICS

Onnoghen’s Capacity is Unquestionable Having appeared before Justice Walter Samuel Onnoghen a few times, there is no doubting his ability to effectively steer the ship of the judiciary, writes Muiz Banire

President of Court of Appeal, Justice Zanab Bulkachuwa; Justice of the Supreme Court, Justice Wilson Onnoghen and Chief Justice of Nigeria, Justice Mahmud Mohammed at a recent function

I

t is with great dismay that we read a publication on page 16 of THISDAY newspapers’ edition of 14 June, 2016 in which the All Progressives Congress was reported as serving a political and subterranean interest in the succession process to the office of the Chief Justice of Nigeria and thereby engaging in attempts to manipulate the judiciary to its advantage in preparation for the 2019 general election.

It is quite disheartening to read in the said publication certain insinuations voiced therein suggesting that at a press conference held on the 21st day of May, 2016, I, Dr. Muiz Adeyemi Banire (SAN), on behalf of the All Progressives Congress (APC) made certain statements, agitating against the appointment of the Honourable Justice Walter Samuel Onnoghen, JSC, as the next Chief Justice of Nigeria, upon the impending retirement of the current CJN. It is clear that the reporter of the piece has a motive to serve as the report tried to make some capital gains out of the office of the National Legal Adviser of the All Progressives Congress in bolstering his discourteous mission of making the UAC Roundtable a political mouthpiece for an alleged inglorious conspiracy against His Lordship, which I believe must have emanated from the imagination of the reporter.

It is certain that the All Progressives Congress is a party that believes in the rule of law. The party plays no role in the appointment into the judiciary, much less the exalted office of the CJN, and neither do I have a role to play in the process.

We believe in the judiciary and have confidence in Their Lordships. As a party under my legal watch, we have never chastised nor condemned the judiciary over any judgment and neither shall we ever tamper or interfere with the affairs of the judiciary.

The insinuation of 2019 political calculation is far from the truth and obviously unveils the motive of the writer as a pawn

in the hands of some political interests that are out to disparage the APC and its leadership.

On a personal note, having appeared before His Lordship, the Honourable Justice Onnoghen several times, I have no reservation whatsoever about His Lordship’s ability to steer the ship of the judiciary positively. His Lordship towers above federal character Justice as sought to be painted by the writer. His Lordship does not need such primordial sentiment to be adjudged a suitable person for the office of the CJN. As the National Legal Adviser of APC, I reinstate the fact that the Party does not dabble into what does not concern it as it believes in the neutrality of institutions.

The write-up is not only reckless but

It must be emphatically stated that one of the finest legal minds ever produced in Nigeria is the distinguished jurist for whom I have the highest regard. His Lordship is not only brilliant and erudite but enjoys the reputation of being upright. How on earth would someone agitate for the disqualification of such personality from the highest judicial service to the fatherland?

irresponsible and reduces our judiciary to a mere political institution. It is certainly aimed at pitching the Party, APC, against the judiciary and sought to be used as an object of blackmail, the intendment of which has failed on arrival as neither the Party, nor I have any role to play in the appointment of the CJN. Lastly, it was a write-up made without taking cognizance of the integrity of those involved.

I use this medium to categorically state that such report is not only false but deliberately designed to serve certain purposes beyond the honest. While the report said in one breath that the statement was made at a “press conference”, in another breath, it alluded to the statement having been made at a roundtable. It is sad that the writer of the story was not present at the UAC Roundtable but scooped news from some mischief sources.

In the first place, I did not address a press conference but rather presided at a Roundtable, which theme was “Repositioning the Judiciary” at which more than 100 persons actively debated. The programme was meant to be a precursor to a Public Lecture being organised for July 14, 2016 by the non-governmental organisation, UAC on access to justice.

While many problems bedeviling the judiciary were considered by various speakers, no one made a recommendation that the Honourable Justice Onnoghen, should not be allowed to succeed the current Chief Justice of Nigeria nor that the tradition and guidelines for the appointment of the Chief Justice of Nigeria be jettisoned. In fact, the issue of the appointment of the CJN never featured at all in the entire session.

The discussion, inter alia, riveted around the NJC Guidelines and Rules for the Appointment of Judicial Officers of all Superior Courts of Record in Nigeria, 2014 and the issue of appointment of Justices of the Supreme Court of Nigeria was debated within the context of the said Guidelines and Rules.

At no point in time did anybody categor-

ically or by insinuation recommend that the Honourable Justice Onnoghen should not ascend the coveted seat. It must be emphatically stated that one of the finest legal minds ever produced in Nigeria is the distinguished jurist for whom I have the highest regard. His Lordship is not only brilliant and erudite but enjoys the reputation of being upright. How on earth would someone agitate for the disqualification of such personality from the highest judicial service to the fatherland?

Reading through the report, it is certain that the reporter had a purpose to serve than journalistic impartiality. Crediting such statement to me is most unfortunate.

This pattern is unfortunate as few weeks ago we read a disturbing mis-reporting about Mr. Dave Ajetunmobi, who was reported to have said at the same event that Supreme Court Justices had become consultants and received bribes. Such a statement cannot be made in my presence without an immediate correction using my vantage position as a Senior Advocate of Nigeria. I am also bold to say that Mr. Dave Ajetunmobi made no such statement.

To further confirm the writer’s insincerity, at the roundtable meeting, I specifically reiterated the need to ensure the independence of the judiciary at all times, particularly in terms of funding.

In this vein, the roundtable meeting discussed the necessity to avoid any form of interference with the judiciary outside the clearly delineated purview of the Constitution. How would this be reconciled with a picture of interference advocacy as unscrupulously insinuated by the writer in his piece? Beyond doubt, the piece was written with an insalubrious purpose in mind.

From the said publication, I come to the inevitable conclusion that the biggest problem Nigeria has, aside from corruption, is rumour mongering and gossip of which the piece completely epitomised.

-Banire, SAN, is the National Legal Adviser of the APC

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FEATURES

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

Protecting Military Bases

Chiemelie Ezeobi writes that the echoes of the 2013 bombing of the Nigerian Air Force base in Maiduguri, Borno State, has necessitated the need for the military to protect their bases

The 4x specialised Honker Scorpion vehicle with armoured windshield

I

t was Monday, December 1, 2013 that they struck. It was a well orchestrated attack that was well executed. Years after, its effect still lingers. The insurgents, who were at then a major threat to national security, had stormed Maiduguri and in a series of attacks launched an offensive against the town. It was apparently planned because as soon as the military, especially soldiers of the 79 Composite Group, of the Nigerian Air Force (NAF) in Maiduguri, left to defend the city, the insurgents struck at their heart; their base.

Given that soldiers are supposed to protect their front and not leave their flank unprotected, it was certainly a morale damper for the soldiers when they were hit in their base. That was in 2013. Not anymore. The force has recently adopted a new strategy of base security known as the Base Defence Concept (BDC), which makes use of specialised vehicles as well as state-of-the-art information technology systems. These are all fed to the Base Defence Coordinator Centre (BDCC).

To actualise this BDC, 10 vehicles including 4x specialised Honker Scorpion vehicle with armoured windshield and six other vehicles with normal screens were procured by NAF with other kits. With this in place, the force expressed optimism that it would not only significantly enhance their air defence system but also improve security at the designated bases.

It was in fulfillment of these objectives that the Air Officer Commanding (AOC), Logistics Command, Air Vice Marshal Sani Ahmed, recently played host to the Chief of Defence Staff and the Chief of Air Staff in Lagos, to inaugurate the equipment meant for the defence of Airforce bases especially in the North-east.

He said, "As the Nigerian Armed Forces and other security agencies continue to grapple with the daunting security challenges across the country, procurement of modern mobile patrol equipment that can

strengthen our existing security measures cannot be at a better time than now.

"This singular act showcases the premium the CAS places on the security of air assets, key points and vulnerable points as provision of these Base Defence Vehicles would certainly develop the capacity of the elements of the NAF Base Defence teams and enhance their professional performance in line with the first jet

The acquisition of these vehicles is in furtherance of our resolve to operationalise the new concept of securing our bases and other vital national assets in response to the changing nature of internal security threats.

The NAF has adopted a new strategy known as the Base Defence Concept (BDC), which utilises kinetics (vehicles) in addition to the state-of-the-art information technology systems in a larger organic Base Defence Coordinator Centre (BDCC)

driver of CAS vision which is human capacity development through robust and result-oriented training for enhanced professional performance.

"Since assumption of office, the CAS has undertaken a total of 153 laudable projects in Logistics Command out of which 45 are civil related projects. At present, 40 of these civil projects have been completed and inaugurated while five are still ongoing.

We are highly graceful to CAS for these noble achievements for numerous similar ones in other NAF locations across the country. The base community in Lagos is indeed very happy with this gesture.

"Being a pragmatic leader, we know that the CAS will not relent on his efforts at ensuring that the standard of infrastructure is continually improved.

Let me use this opportunity to reassure the CAS about the commitment of Logistics Command towards provision of adequate logistics support to the NAF." A Dastardly Attack The move to purchase these specialised protection vehicles are not misplaced owing to the dastardly attack of the NAF base in Maiduguri in 2013 by the insurgents.

It was on a Monday when the Composite Group Air force Base in Maiduguri was attacked.

The siege which started at about 3am had shaken the town as sporadic gunshots and other rocket propelled grenade launchers were fired by the insurgents.

Using the element of surprise, the insurgents had infiltrated and bombed the base. Numbering over 100, the insurgents who were said to have stormed the air force base in trucks and a stolen armored personnel carrier at about 3am were said to have launched attack on the unsuspecting officers on duty.

In fact, the then Defence Spokesman, Brigadier General Chris Olukolade, had revealed that two helicopters and three decommissioned military aircraft were incapacitated during the attack. According

to him, some army bases were targeted, while 24 insurgents were killed and two soldiers wounded.

Days later in an exclusive report, THISDAY had gathered from the then CAS, Air Marshal Alex Badeh, that the insurgents had exerted much damage to the base including on aircrafts and vehicles because they used anti-aircraft bombs.

Badeh who later became the CDS had stressed that due to the aerial nature of the force, its fighting prowess is often exhibited in the air and such, they were not fully equipped to fight on the ground.

He said, "We don't fight on the ground and because of our reach, we can go very far. From history, the force has never been deployed to the war front and Maiduguri is a war front. We should stay very far away and then deploy our bombs and come back. Because we have always operated from friendly territories, the Air Force the world over are involved in air fights."

When asked how the insurgents penetrated the security area and unleashed mayhem he said, "The security we have on ground was to protect against intruders and petty thieves and not to go to war.

But somehow, we had to go to Maiduguri to fight a war and I know there was security around the airports but when you keep 20 people on ground for security and you have 300 armed persons coming at you, what do you do?"

Although the actual number of persons that died in the blast was difficult to ascertain, the military were however not able to make any arrests because most of the insurgents were killed in the resulting gunfire and jungle justice meted out by villagers.

A Thoughtful Initiative Thus, the Chief of Air Staff (CAS), Air Marshal Sadiq Abubakar, recently thought it wise to protect their flanks. This decision culminated in the purchase of the 10 honker vehicles. At the inaguration in

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FEATURES

Lagos, he said, "The acquisition of these vehicles is in furtherance of our resolve to operationalise the new concept of securing our bases and other vital national assets in response to the changing nature of internal security threats. The NAF has adopted a new strategy known as the Base Defence Concept (BDC), which utilises kinetics (vehicles) in addition to the state-of-theart information technology systems in a larger organic Base Defence Coordinator Centre (BDCC).

"This enables real time observation, reporting and response to activities around the area of interest. The BDCC as opposed to the previous concept of the use of guard posts, is proactive and allows for the use of initiatives in deterring, defending and protecting vital assets. The NAF and indeed the nation cannot afford to lose any viral asset through the activities of saboteurs, terrorists, or hoodlums in whatever guise they may be. It is against this backdrop that the NAF acquired these Honker specialised vehicles.

"The NAF on establishing the need for the vehicles about six months ago, embarked on a detailed and painstaking procurement process with the original equipment manufacturer in line with Federal Government policy directives on defence procurement.

"This has ensured that the equipment are manufactured according to our needs and specifications. The vehicles we are inaugurating today comprising 4x specialised Honker Scorpion vehicle with armoured windshield and another six with normal screens.

"This and other kits we have acquired in the last are intended to offer freedom of movement and more protection to the operators against small arms fire while going a long way in assisting our regiment personnel to conduct effective mobile patrols. It is further expected that the deployment of these specialised vehicles would significantly enhance our air defence system and improve security at the designated locations.

"I will like to place on record that our achievements so far would not have been possible without the unwavering snooker of President Muhammadu Buhari. We are sincerely appreciative of President's support and reaffirm our alloyed loyalty to the Nigerian nation and the sustenance of democratic values in the country. The NAF remains committed to our collective struggle to keep Nigeria as one indivisible country under democratic governance."

Some of the six other vehicles with normal screens.

Chief of Defence Staff, General Gabriel Olonisakin; the Chief of Air Staff, Air Marshal Sadiq Abubakar and the Commandant, Armed Forces Resettlement Centre, Air Vice Marshal Mike Iloenyosi at the inauguration of the specialised honker

I will like to place on record that our achievements so far would not have been possible without the unwavering snooker of President Muhammadu Buhari. We are sincerely appreciative of President's support and reaffirm our alloyed loyalty to the Nigerian nation and the sustenance of democratic values in the country. The NAF remains committed to our collective struggle to keep Nigeria as one indivisible country under democratic governance

The CDS' Seal of Approval Clearly impressed, the special guest of honour at the inauguration, the Chief of Defence Staff, General Gabriel Olonisakin, said the vehicles were procured specifically for the purpose of enhancing security of the air assets within the area of their deployment, adding that the "equipment are certainly geared towards raising and maintaining the capability of the regiment troops as they contribute to our collective efforts to address the various security challenges confronting our nation."

While commending the CAS for his strategic initiative of providing troops with adequate equipment and for undertaking numerous other projects which culminate into actualising his vision for the NAF, he said, "I will like to say that I am very impressed with CAS' achievements within the short period of assumption of office.

"The procurement of these Honker Airfield Defence vehicles is a testimony of the importance the NAF attaches to protection of its critical assets and force protection. The vehicles were procured in line with the NAF's new Base Defence Concept, to be a force multiplier. I employ you all to make good use of the vehicles and to reciprocate the gesture of the CAS by maintaining them appropriately.

"Let me commend all our Armed Forces personnel for the gallant performances

in Operation Lafiya Dole, Operation Safe Haven, Operation Pulo Shield and other internal security operations in Nigeria. The gallant efforts of the NAF have contributed to the routing of the insurgents and the significant degrading of their capabilities.

"I acknowledge this pivotal role that the NAF has been playing in the ongoing Operations Lafiya Dole in the North-east and other ongoing operations. “It is pertinent to state that President Muhammadu Buhari has assured us of his government's commitment to the acquisition of new platforms and maintenance of existing ones to enhance our operational capacity.

"I therefore charge you all to ensure adequate maintenance of these new equipment and indeed all other equipment under your charge to derive maximum benefit from the country's investment.

I also urge you all to rededicate yourselves to the service as we re-strategise to confront and liberate Nigeria from every form of insecurity."

About the Base Defence Concept According to NAF spokesperson, Group Captain Ayodele Famuyiwa, the BDC is part of efforts towards coping with the dynamism of emerging security threats, which influenced the adoption of a new concept of base defence to protect its air

assets and critical installations.

He said aside reorganising, retraining and re-equipping the Regiment Specialty to effectively defend NAF Bases against attacks, the service has also employed the use of Closed Circuit Camera to provide surveillance around perimeter fences of NAF Bases while monitoring the entire base from the Base Defence Coordination Centre.

He added that under the new concept, efforts are geared towards expanding the Regiment Specialty to be able to take over all ground defence duties with a view to securing NAF Bases and critical assets. Thus, the recent acquisition of 10 specialised Honker Scorpion vehicles was in furtherance of this objective by providing guards with the capacity to respond quickly to security breaches.

Famuyiwa, who noted that the vehicles possess armoured capability thus offering additional level of protection to guards, said another major advantage of the Honker vehicles is that it helps to eliminate the system hitherto in place where guards were made stationary at their guard posts.

With the deployment of these 10 Honker vehicles to safeguard NAF bases, it is hoped that it will significantly enhance not just the BDC but also help its personnel to detect and respond to security breaches.

22

IMAGES

L-R: President of Women of Honour, Redeemed Christian Church of God, Victory Chapel (LP 21) Magodo, Deaconess Doyin Odumirin; Gospel Artist, Big Bolaji; Host Pastor, Aderonke Olowoyo; and Parish Pastor, Kunle Taiwo, at Tehila Praise Event of the Chapel’s Women of Honour Convention 2016, in Lagos…on Sunday

L-R: Vice President, National Council of Women Society,Mrs. Gloria Laraba; Chief Excecutive Officer, Felix King Charity Foundation, Mr. Felix King Eiremiokhae; Speaker, Edo State House of Assembly, Hon. Elizabeth Ativie;Executive Director, Felix King Charity Foundation, Mrs. Aderonke King Eiremiokhae; and Deputy Speaker, Edo State House of Assembly, Hon. Justin Okonobo, during the 2016 international widows day conference in Lagos...recently etop ukutt

L-R: Wife of National Legal Adviser, All Progressives Congress (APC), Alhaja Jemila Banire; former Chairman, Lagos State, Independents Electoral Commission (LASIEC), Mr. Musbau Oyefeso; Chief host, Dr. Muiz Banire; Assistant Director, News, Vice of Nigeria (VON), Dr. Qasim Akinreti and the Chairperson, National Association of Women Journalists (NAWOJ), Lagos Chapter, Hadjia Sekinah Lawal, during the Ramadan breaking (iftar) with muslim journalists and students of Bab-Es-Salam orphanage home by Dr. Banire, at his Ikeja GRA Residence, in Lagos……recently kola olasupo

T H I S D AY • WEDNESDAY, JUNE29, 2016

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

L-R; The Group Head, Corporate Affairs of First City Monument Bank (FCMB), Mr. Diran Olojo; a beneficiary of the Bank’s sponsored Priceless Gift of Sight project, Mr. Oliver Ibedim; another beneficiary, Mrs. Catherine Igbokwe; Chairperson of Bakassi Local Government, Hon. (Mrs.) Edisua Iso and an Ophthalmic Surgeon with the Tulsi Chanrai Foundation (TCF), Dr. Shailendra Gahilod, during the community outreach programme held in Calabar, Cross River state.

L-R: Babaloja General of Lagos, Alhaji. Wasiu Atanda Balogun; Executive Chairman, Lagos Internal Revenue Services (LIRS), Mr. Olufolarin Ogunsanwo; Iyaoja General of Nigeria, Alhaja. Folashade Tinubu-Ojo; Director, Administration and Human Resources, LIRS, Mrs. Arinola Kola-Daisi and the Director, New Growth Areas, Mr. Ayodele Adebayo, during the LIRS familiarization visit to Iyaloja General and meeting with market women members, in Lagos…..Thursday

L-R: Regional Sales Manager, Middle belt, Unilever Nigeria Plc, David Ebah; Principal, Government Secondary School, Gwarinpa, Abuja, Aderinto Margaret; Vice Principal, Academics, Bello Ajekunle; Project Manager, Knorr Force For Good, Titi Ajagbe and the Home Management Teacher, Bilikisu Ibrahim, during an induction ceremony of the Knorr Social Missions, in Government Secondary School, Gwarinpa, Abuja....... recently

L-R, Arch Bishop George Amu, Mrs Ndidi Okonkwo Nwuneli, Prof Wale Omole, Prof Folashade Ogunsola, Mrs Olufunke Fowler-Amba, During the 2016 graduation ceremony of vivian fowler memorial college for girls, in Lagos,on Friday .

23

WEDNESDAY, JUNE 29, 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 3-MONTH

A S

11.0102% 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 LCCI to Inaugurate Insurance Group

UNITED AGAINST ILLICIT DRUG TRAFFICKING

R-L: Manager, Lekki Branch, Unity Bank, Saratu G. Umar; Minister for Youth & Sports, Mr. Solomon Dalung; DG NDLEA, Mrs. Roli Bode George; and Team Lead, Event & Brand, Unity Bank, Hannah T. Madziga at the event marking this year’s International Day against drug and illicit drug trafficking sponsored by Unity Bank Plc…recently

Credit Growth Likely to Weaken on Naira Depreciation Stories by Obinna Chima

Given the depreciation of the naira exchange rate and the liberalisation of the forex market, credit growth is likely to remain subdued this year, a report has stated.

Given the relatively weaker macro environment, the report, “Nigerian banks -Life after ’40,” by Renaissance Capital Limited, stated that many of the banks had guided for muted loan growth in 2016.

Some banks had factored in the impact of naira depreciation in their forecasts.

“We expect core credit growth to remain subdued in 2016, and think the impact of depreciation will be the main driver of nominal credit growth. Based on our estimates, forex loans accounted for about 46 per cent of sector loans in full year 2015.

“Using this as the basis of our analysis, we estimate that naira depreciation to

ECONOMY

N300/$ could result in average nominal loan growth of 23 per cent in 2016. We expect this to be highest at FBN Holding, GTBank, Diamond and the United Bank for Africa Plc (UBA), given that they had the highest proportion of group loans in forex as at full year 2015, at 59 per cent, 50 per cent, 50 per cent and 49 per cent, respectively,” it added.

In the light of this, analysts at RenCap stated that they anticipated nominal loan growth of about 29 per cent at FBN Holdings and about 25 per cent at the other three banks mentioned above.

“That said, GTBank mentioned that the loan book dipped in second quarter 2016 owing to some significant pay-downs, so nominal growth could come in lower than we estimate; UBA is expecting loan growth (including depreciation effects) in the mid-to-high teens. In our models, we

assume an exchange rate of N285/$ by year-end.

“We also expect a weaker currency to inflate deposit growth, although the impact would be lower than on the credit side, given that most banks have a relatively lower proportion of their deposits in FX versus loans. Based on our estimates, FX deposits represent about 29 per cent of total deposits, translating to an average nominal growth rate of 15 per cent using an exchange rate of N300/$.

“UBA, Access and Diamond should see their deposits grow the most, considering they had 46 per cent, 36 per cent and 32 per cent, respectively, of their total deposits in FX as at full year 2015,” it added.

Commenting on the Central Bank of Nigeria’s (CBN’s) decision to clear the N4.6 billion backlog of FX demand ($0.532 billion settled at spot, with $4.02 billion settled using one- to three-month forward rates), at a rate of N280/$,

it stated that central bank’s decision to sterilise the naira equivalent of the forward transactions was unexpected and as such liquidity strain pushed the NIBOR overnight rate to as high as 120 per cent last week.

“From our discussions with the banks, we understand that system liquidity is tight, with only a few net placers in the market. Given the nature of the Nigerian money markets, this could be short-lived, as monthly inflows from the Federal Accounts Allocation Committee (FAAC) should help. That said, liquidity ratios have come under some pressure and we broadly expect that interest rates should directionally trend higher in second half of 2016.

“We believe the argument for tighter monetary policy is stronger in the current environment – greater upside risks to inflation following naira Continued on page 24

Report: Banks May Face Challenge Servicing Dollar Obligations Following recent depreciation of the naira exchange rate that came with the new forex policy, Nigerian banks are likely going to face challenges servicing their US dollar obligations, a report has stated.

Lagos-based investment and research firm, CSL Stockbrokers Limited, which stated this in a report titled: “Banks and FX Devaluation,” held the view that given very limited international dollar credit to Nigeria, banks may either resort to supranational lenders and

ECONOMY

development banks, or else buy US dollars at costly rates to meet their obligations.

“Borrowings in US dollars are problematic under a devaluation scenario. Banks need to have performing US dollar assets in order to receive dollars with which to service their own US dollar borrowings.

The worse these US dollar assets perform in cash terms (for example, re-scheduled US dollar loans to the oil & gas sector, with grace periods

during which banks do not receive cash) the more banks have to find other sources of US dollars with which to service their own borrowings.

“An extreme case of this would be a bank simply purchasing US dollars with Naira at unfavourable rates in order to service a US dollar obligation. Note that it has become quite difficult for most banks to refinance US dollar loans with international banks, though we assume that most have access to the supranational

lenders, and to development banks, for re-financing,” it added.

It also anticipated that cost of risk (CoR) would “rise as a result of devaluation, though much of the economy has been working with the parallel naira/dollar rate for over a year.”

The report explained: “Devaluation, in theory, challenges capital adequacy ratios (CAR) because the naira-equivalent Continued on page 24

The Lagos Chamber of Commerce and Industry (LCCI) has concluded plans to inaugurate its newly-formed Insurance Group.

The inauguration, which is scheduled to hold in Lagos tomorrow, was borne out of the urgent need to stimulate growth-generating activities and encourage investment in the sector.

According to the organisers, the inauguration will be chaired by the President of the Chamber, Mrs. Nike Akande.

Director General of the LCCI, Muda Yusuf said: “the major reason for the creation of the LCCI Insurance Group is to give operators in the sector a viable platform to engage the government on key policies affecting them and exchange ideas on the growth and development of the sector. Furthermore, the idea of creating an Insurance Group is to have a more vibrant and focused advocacy on issues relating to the Insurance sector, bearing in mind the vital role it plays in the economy.”

“The objectives of the group amongst others include: advocacy at every level to government and its relevant agencies, valueaddition to members of the group, enhancement of insurance penetration and sustainable growth of the sector,” Yusuf disclosed.

The Chairman of the LCCI Insurance Group, Mr. Gboyega Olanbiwoninu said that “the group is committed to the advancement of the frontiers of the sector, improvement of the citizens’ disposition towards insurance and the transformation of the common aversive behavior towards Insurance to such that is a welcome investment indemnity solution.”

Ecobank Supports Educational Devt

Imo State Governor, Rochas Okorocha has commended Ecobank Nigeria for supporting the development of education in the state under its corporate social responsibility (CSR) initiative. The governor said this at the inauguration of a multi-million water project and school furniture provided to Girls’ Secondary School, Akwakuma, Owerri, Imo state recently. He said the bank’s support would go a long way in enhancing the learning environment at the school. Governor Okorocha who was represented by the Commissioner for Education, Science and Technology, Mrs. Gertrude Ego Oduka, said, “by this comprehensive package, Ecobank has openly declared that it is our partner in progress.

This is a way of complementing our government’s effort at uplifting the standard of education in the state. Education is life and spirit and any support to the sector is well appreciated. It is a thing of joy to all of us in the state. I urge everyone to tell others about Ecobank.” The Governor further called on well-meaning Nigerians, local and international non-government organisations and other financial institutions to emulate Ecobank, stating that, the state was undergoing massive transformation under the current administration. In his response, Deputy Managing Director, Ecobank Nigeria, Tony Okpanachi, stated that the execution of the projects was in line with the Bank’s CSR activity which is to give back and contribute effectively to the communities where it operates. He noted that the vision of the projects revolve around creating a conducive environment for learning and a far-reaching compensation to the learning community for the endless years of unflinching patronage.

Orange Acquires Airtel in Burkina Faso

Orange has announced that, together with its subsidiary Orange Côte d’Ivoire, it has completed the acquisition of 100 per cent of the mobile operator Airtel in Burkina Faso. Since the signature of an agreement with Bharti Airtel International (Netherlands) BV (“Airtel”) in January 2016, Orange has obtained all the official approbations necessary to complete this transaction.

Airtel is the second largest mobile operator in Burkina Faso, with close to 4.6 million customers (on the basis of active customers within a 30-day period). On the mobile financial services market, Airtel is the uncontested leader and is already interoperable with Orange Money in neighbouring countries allowing international transfers to be made. Airtel is also positioned as the country’s leading Internet provider thanks to its extensive 3.75G network, which has been rolled out in over 100 towns.

“The government’s economic plan is strong on fiscal discipline, because people know we need to get our country working Minister of Finance

Mrs. Kemi Adeosun

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WEDNESDAY, JUNE 29, 2016 • T H I S D AY

BUSINESSWORLD CREDIT GROWTH LIKELY TO WEAKEN ON NAIRA DEPRECIATION depreciation, coupled with the fact that the Monetary Policy Committee (MPC) has a greater incentive to increase yields to attract foreign portfolio inflows (FPI).

“Consequently, we expect to see some level of tightening at next month’s MPC meeting.

Should we see a movement in the monetary policy rate (MPR), we think the banks could struggle to pass this on fully to customers, given the weak macro environment, and any re-pricing of loans would likely be on a selective basis.

“On the back of this, we expect asset yield improvements to be driven more by rising yields on liquid assets. Funding costs will also creep higher, as rates on term deposits track yields on government securities, offsetting some of the asset yield improvements,” it added.

REPORT: BANKS MAY FACE CHALLENGE SERVICING DOLLAR OBLIGATIONS value of risk-weighted assets (RWA) rises as these include foreign currency loans. “However, the weight of foreign currency loans in RWAs is for the most part moderate (34%-44%), and banks will likely make windfall gains from net long FX positions which in turn boost capital.

We see moderate erosion of CAR overall, and note that the CBN has postponed hiking the minimum total CAR from 15 per cent to 16 per cent.”

The report assessed the likely impact of notional 50 per cent naira devaluation on the top-five listed Nigerian banks.

The banks are FBN Holdings, Zenith Bank Plc, Guaranty Trust Bank Plc, United Bank for Africa Plc (UBA) and Access Bank Plc. It expressed optimism that banks will retain comfortable capital levels, adding that although devaluation “would probably bring some liquidity challenges, but since the biggest challenges are faced by the strongest banks (notably Zenith Bank), we believe these can be overcome.”

Group Business Editor

NEWS

Oil Firms, Others Sued for Failing to Pay Net Profit Interest Davidson Iriekpen

Justice Mohammed Idris of the Federal High Court, Lagos will on Thursday hear a suit filed

by Multinational Technologies Limited, DIL Company Limited and Mrs. Izarene Zellotis Adams against Niger Delta Petroleum Resources Limited, Niger Delta Exploration and Production Limited, UBA Trustees Limited, Dr. Layi Fatona, Mr. Goodie Ibru, and Securities and Exchange Commission (SEC) for failing to pay net profit interest (NPI) entitlements as at when due and in the appropriate sums.

In the suit, the petitioners, chronicling how the crisis started, averred that in 2000, they, together with other third parties, came together to explore certain opportunities in the oil and gas industry, to promote indigenous participation of Nigerians through the investment in and development of marginal fields; a concept which was hitherto unknown in Nigeria.

They contended that they and their co-promoters in pursuit of this strategic objective incorporated the NDPR Limited as a special purpose vehicle to acquire and develop marginal fields on terms agreeable to all parties.

The petitioners added that by virtue of a Farm Out Agreement dated August 7, 2000 between the Nigerian National Petroleum Corporation/Chevron Nigeria Limited (NNPC/CNL) Joint Venture, and NDPR Ltd, NDPR

Ltd became the direct beneficiary of an assignment of rights to the Ogbele Marginal Field in OML 54, and a right of first refusal to the Omerelu Marginal Field in OML 53.

They stated that to fund the object of the acquisition and the requisite petroleum operations, as warehoused with the 1st respondent, they, together with some other third parties, promoted and established NDEP Plc as a vehicle for raising capital from the stock and capital markets,

and also to accommodate the interest of the investing public further to the desire to seek alternative funding to facilitate the development and production of the Marginal Fields.

They stated that as part of the arrangements for the development and production of the Ogbele Marginal Field, a Joint Venture Agreement (JVA) dated February 19, 1997 was entered into between NDPR Ltd, NDEP Plc, Jerez Nigeria Ltd, Chemur Nigeria Ltd and Computer Bureau Ltd.

Under the JVA, the parties granted to NDPR Ltd a 20 per cent combined NPI in the Ogbele Marginal Field production as consideration for this, and for its business development and promotion efforts, provided that 25per cent of the said NDPR Ltd’s 20per cent NPI shall be placed in a trust for the host communities in accordance with the provisions of an Environmental Trust Deed executed by NDPR Ltd on behalf of the parties to the JVA. The deduction of the said 25 per

cent from NDPR Ltd’s 20per cent NPI left NDPR Ltd with the remaining 15per cent NPI. Thereafter, by virtue of a Share Purchase Agreement dated May 9, 2003, NDEP Plc purchased NDPR Ltd as a wholly owned subsidiary for a consideration that was calculated as the net present value of the NPI held

by NDPR Ltd under the JVA net of all amounts owed by NDPR Ltd and net of the NDPR Ltd’s agreed share of common costs of the acquisition.

WE ARE OPEN FOR BUSINESS

L-R: Managing Director, Cummins West Africa Ltd, Kwame Gyan-Tawiah; Co-founding father of Aspamda, Chief Anthony Oforma; Director, Components Filtration, Feroze Chowdary; and Deputy Chief Security Officer, Aspamda, Luke Ojukwu, during Cummins shop front opening in Aspamda, Lagos...recently

FG Lauds Ayade over Bakassi Deep Seaport Project Bassey Inyang in Calabar The federal government has commended Governor Ben Ayade of Cross River State for his foresight to embark on construction of the Bakassi Deep Seaport, describing it as a worthy venture that will impact positively on the economic life of the country.

Chairman, Steering and Implementation Committee for the deep seaport and Director Maritime Services, Federal Ministry of Transportation, Alhaji Sani Galadanchi, stated this recently when he led other members of the committee on a courtesy visit to Government House in Calabar. Galadanchi commended Ayade “on his

vision to diversify the economy of the state from its dependence on revenue allocation from the federation. This is in line with the Federal Government’s desire in moving the maritime sector forward.” While restating federal government’s readiness to partner Cross River State Government and other stakeholders for the actualisation of the project, Galadanchi pointed out that the realisation of the deep seaport would result in an improved national supply chain, industrial capacity utilisation and huge employment opportunities.

Expressing the regret over the delay in constituting the steering committee, the chairman said it was not intentional, just as he attributed the development

to an earlier misunderstanding on the part of the officials from the state in the build up to the constitution and inauguration of the committee.

He listed some of the mandates of the committee to include, preparation of preliminary project feasibility/ proposal, the Environmental Impact Assessment (EIA), work plans for project implementation and indicative budget for the project development as well as funding structure.

He promised that the committee will do all within its power to ensure the actualisation of the project in conformity with the nation’s Ports Master Plan.

In his response, Ayade who was represented by his Deputy,

Prof. Ivara Esu, thanked the Minister of Transport, Rotimi Amaechi for setting up the steering committee for immediate take off of the deep seaport project, saying that the port was a life wire of his administration.

Ayade stated: “We want to deliver on our signature project, which include the Bakassi Deep seaport that you are currently here to finalise modalities for takeoff, the 260 km superhighway that will serve as an evacuation corridor.” While restating the state’s willingness to comply with the recommendation of the committee in executing the project, Ayade said: “We are ready to work with the stakeholders in the maritime industry as well as other relevant federal government agencies as

stipulated by law because Cross River is in a big hurry to ensure the takeoff of this very important project.

“Bakassi Deep Seaport is very significant to us. In fact, it is the hemoglobin in the blood. So, if it does not succeed, our dream of transforming the socio-economic landscape of this state will be a mirage,” the governor opined.

He further disclosed that “If the seaport is materialised, not only will Cross River be transformed but the neighbouring states of Benue, Taraba, Adamawa, Borno as well as countries like Chad and Niger, will benefit immensely from the port services as it will also serve as a major incentive to economic development of those areas.”

Maritime Editor

TCN Identifies Priority Projects for Maximum Impact on Network

AgriBusiness/Industry Editor

Ejiofor Alike

Chika Amanze-Nwachuku John Iwori

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)

Apparently worried by the weak transmission network and the poor electricity generation, which has caused instability in the national grid, the Transmission Company of Nigeria (TCN) recently held a one-day management retreat to brainstorm and strategise on the way forward for the company.

During the programme, 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.

According to a statement by the company, 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 60No defective 33kV circuit breakers which would be completed within six months and on completion enhance the grid

wheeling capacity with about 28,800MWH (megawatt hour),” said the statement.

The statement added that within a period of six months, critical and international 330kV lines are to be maintained to ensure system stability and revenue earnings.

The statement noted that these projects when completed will increase TCN wheeling charges by over N700million. “ 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 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,” the statement added.

The retreat was attended by all top management staff (Nigerian counterparts) of the company, from the headquarters and regional offices nationwide.

The retreat themed “The Way Forward” extensively discussed 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.

After the retreat, the communiqué issued noted that the company has the capacity to wheel maximum generation from Gencos to Discos, but would still continue to work assiduously, to further expand its grid capacity so as to ensure that it continues to surpass the generation curve.

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BUSINESSWORLD

EQUITIES WATCH

Fortis MFB Succumbs to Harsh Operating Climate

Goddy Egene writes that the challenging operating environment has taken a toll on the earnings of Fortis Microfinance Bankn the near future

Broad Street, Lagos

When the Microfinance Policy Regulatory and Supervisory Framework (MPRSF) was launched in 2005 by the federal government , it was meant to address the issue of financing the poor in both urban and rural areas and also financing the Small and Medium Enterprises (SMEs).

Other issues that were to be addressed by MPRSF were poor corporate governance, lack of well-defined operations, restrictive regulatory/ supervisory requirements, and weak capital base of existing institutions. A huge gap was identified in the provision of financial services to a large number of active but poor and low income groups, especially in the rural areas as a result of rigidity operations of formal financial institutions in Nigeria.

Hence, the MPRSF was introduced to encourage the establishment of microfinance banks.

Since the introduction of the policy, many MFBs have been established. Out of the numerous MFBs, Fortis Microfinance Bank Plc was the second MFB that has had the courage to be listed on the Nigerian Stock Exchange (NSE) after NPF MFB. The bank was listed on the exchange in 2012 and has been recording growth. However, it has begun to witness declining fortunes in 2015 full year and first quarter of 2016, indicating the harsh operating business environment.

Corporate history Fortis MFB was licensed by the CBN in 2007 and listed on the NSE as the first private sector led MFB in 2012. The bank has the goal of meeting the high demand for microfinance banking services by providing flexible banking solutions to support the development of entrepreneurship and empowerment of the economically disadvantaged micro, small and medium scale enterprises (MSME) and individual.

Fortis MFB provides a wide range of financial services to a substantial and diversified client base that includes low-end entrepreneurs, the under banked, cooperatives and high-net-worth individuals among others. It runs a viable business model that provides access and financial empowerment to those at the base

of the economic pyramid that constitute over 80 per cent of the about 160 million Nigerians and also provide huge returns on investments.

Fortis operates out of 14 strategically located branches and has a growing customer base, made up of Micro, Small and Medium Enterprises (MSMEs), individuals and groups who have benefited from Fortis loans and other value added services.

Financial performance trend Fortis MFB had an impressive full year financial results in 2014 with a profit after tax (PAT) of N674.512 million, from the N382.903 million it recorded in 2013.

Profit before tax was up by 68.50 per cent from N634.674 million in 2013 to N1.070 billion in 2014, while interest income rose to 22.15 per cent, from N2.045 billion in 2013 to N2.498 billion in 2014.

Maintaining the positive trend, Fortis MFB began 2015 year in a positive trajectory as it reported a 315 per cent growth in its pre-tax profit for the half year ended June 30, 2015.

The firm’s profit before tax (PBT) went up by 315 per cent from N80.493 million in the Q2 of 2014 to N334.608 million in the review period of 2015.

Also, profit after tax (PAT) equally grew by 315 per cent in the second quarter of 2015 with N234.225 million compared to N56.345 million reported in same period of 2014.

Interest income firmed up to N1.304 billion in 2015 from N858 million in 2014, accounting for an increase of 51.98 per cent.

Fortis MFB maintained the tempo in profit reporting 123 per cent growth in PAT for the Q3 ended September 30, 2015. Its net earnings grew to N365.84 million during the period under review, from N164.017 million recorded in 2014, representing an increase of 123 per cent.

Its PBT equally rose 123 per cent to N522.636 billion, from N234.310 billion a year earlier. Interest income also rose to N1.836 billion compared with N1.478 billion the previous year, indicating an increase of 24.22 per cent.

However, just as the market was expecting

the bank to end 2015 with higher bottom-line, its fortune began to decline.

Its PAT fell 13.46 per cent to N583.703 million from N674.512 million recorded in 2014.

Specifically, the bank recorded total operating income of N1.803 billion in 2015, up from N1.875 billion in 2014. Personnel expenses rose from N377 million to N459 million, while general and administrative expenses jumped from N384.436 million to N416.862 million. Total expenses stood at N921 million in 2015, up from N805.34 million in 2014.Impairment charges rose from N15.450 million to N49.182 million. Consequently, PBT fell by about 18 per cent from N1.07 billion to N882.521 million in 2015. Despite a reduction in income tax expenses from N395 million to N298 million, PAT fell from N674.512 million to N583.703 million in 2015.

Fortis MFB commenced the 2016 with a decline in bottom-line. According to the unaudited results for the first quarter ended March 31, 2016, the financial institution recorded a fall of 55 per cent in PAT to N160.933 million in 2016, from N71.910 million in the corresponding period of 2015. In all, the bank recorded total operating income of N297.846 million, showing a drop of 31 per cent compared with N431.128 million in 2015. Total expenses reduced from N201.223 million to N195.117 million. However, PBT fell by 55 per cent from N229.904 million to N102.728 million in 2016. Similarly, PAT fell from N161 million to N72 million.

Bright future prospects No doubt the Q1 result is capable of discouraging investors. But considering the fact that bigger banks that operate in the same environment recorded similar poor performance, Fortis MFB’s fortunes will witness a positive trajectory as soon efforts to turn around economy yield results.

Besides, Fortis MFB is planning ahead to improve its performance. Fortis was last year granted a national microfinance banking licence by the Central Bank of Nigeria.

The bank can now operate as a national microfinance bank with the licence and improve its fortunes returns to stakeholders.

The Chairman of Fortis MFB, Mr. Felix Achibiri, who announced the new status of the bank to the shareholders at the 2nd annual general meeting (AGM) in Abuja, said the bank would replicate its success story in Abuja and in the northern parts of Nigeria in other states of the federation when they launch there.

Fortis MFB is the only microfinance bank in Nigeria to be issued a Mobile Payment license by the apex bank. According to the chairman of the bank, Fortis, from the onset was clear that it would build a world-class bank of Nigerian origin and with the right workforce that places customers at the heart of all its activities.

“With a national banking license Fortis will be driving the CBN’s financial inclusion programme across the country by providing financial services to all the states of the federation. Our success story over the years will be replicated nationwide and we will also through the use of technology bring banking to the door step of all Nigerians particularly those at the base of the economic pyramid who are either underserved, underbanked or out rightly disenfranchised by the conventional financial service providers,” he said.

Speaking during the NSE closing gong ceremony in Lagos recently, Achibiri noted that the bank’s investment arising from the conclusion special placement exercise was a huge vote of confidence in the vision of the bank to be the dominant microfinance bank in Nigeria by reaching out to more under-served communities across the country, especially on the back of the Bank’s recently acquired National Microfinance Bank License.

“In the last eight years, Fortis has majorly funded its growth from seed capital, customers savings and retained earnings, and in doing so, have built one of the fastest growing microfinance institutions in Nigeria,” he said.

He noted that the investment is expected to bring a renewed sense of purpose and additional resources to deliver varied products and services to its esteemed customers and improved value to all stakeholders.

Achibiri added the bank is looking at sourcing for fund through the capital market.

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BUSINESSWORLD

ANALYSIS

Beyond the New Forex Structure Despite the adoption of a flexible foreign exchange regime, the alignment of monetary and fiscal policies is a necessary condition for the country to be able to attract the much desired capital inflows and attain sustainable economic growth, writes Obinna Chima

Minister of Trade, Industryand Investment, Okey Enelamah Emefiele

The main objective of macroeconomic policy is to achieve sustainable economic growth in the context of price stability and viable external accounts. As a result of this, it is essential to achieve a close degree of coordination among policy makers in the areas of monetary and fiscal policy.

The impact of measures taken in either of these areas will inevitably depend on how the policies in each area affect those of the other.

Indeed, without efficient policy coordination, the objective of one authority may hamper the objective of the other.

That is why in Nigeria, although the new foreign exchange policy introduced by the Central Bank of Nigeria (CBN) has received applause globally, experts have warned that for it to have far-reaching impact on the economy, there must be a response from the fiscal authorities. They stressed the need for trade policies to woo foreign investors back to the country.

Clearly, since the third quarter of 2014, Nigeria has been dealing with the effects of three significant and simultaneous global shocks.

These include the over 70 per cent drop in the price of crude oil, which contributes the largest share of the country’s forex reserves; global growth slowdown and geopolitical tensions along critical trading routes in the world; and normalisation of monetary policy by the United States’ Federal Reserve.

As a result of this, the country recorded a significant decline in its forex reserves from about $42.8 billion in January 2014 to about $26 billion this month, just as its volume of forex inflows have fallen from as high as $3.2 billion monthly in 2013 to current levels of below a billion dollars per month.This has seen the central bank introduce various monetary policy measures to avoid further depletion of the reserves. This further led to the introduction of the new forex system, which took-off last week. Part of the objectives of the new framework, which included the introduction of the naira-settled Over-the-Counter (OTC) FX Futures trading, was to discourage people from front-loading or hoarding forex due to

uncertainty. The new flexible forex regime is also expected to discourage speculative attacks on the naira.

Eyes on Non-oil Exports As part of efforts to boost activities in the non-oil sector of the economy, the central bank recently unveiled a N500 billion low interest rate non-oil export facility. The fund was established to support the diversification of the economy away from oil and to expedite the growth and development of the non-oil export sector. It is also expected to stimulate inflow of forex in the country. According to the guidelines for operating the fund, the CBN will invest in a N500 billion debenture to be issued by Nigerian Export-Import Bank (NEXIM) in line with section 31 of CBN Act. It further stated that the facility was essentially designed to redress the declining export credit and reposition the sector to increase its contribution to revenue generation and economic development. It will improve export financing, increase access of exporters to low interest credit and offer additional opportunities for them to upscale and expand their businesses in addition to improving their competiveness.

The Nigerian Export – Import Bank (NEXIM) shall be the Managing Agent of the Non-Oil Export Stimulation Facility (ESF). It shall be responsible for the day-to-day administration of the Facility and rendition of periodic reports on the performance of ESF to CBN. Also, in order to ensure continuous flow of credit to the export sector at competitive rates, especially against the background of declining export loans and the need to promote sustainable non-oil exports, the Export Credit Rediscounting and Refinancing Facilities (RRF) was expanded by N50 billion to support the banks in the provision of pre- and postshipment finance to exporters to undertake export transactions.

With these, the acting Managing Director/ Chief Executive, NEXIM Bank, Mr. Bashir Wali, explained that over the past few months, the Nigerian Export-Import Bank has been

working with the central bank to review existing policies and strategies towards increasing funding support and stimulating additional investments in the non-oil export sector.

The NEXIM Bank therefore urged Nigerian exporters and export oriented businesses to utilise the facility to expand and upscale their operations towards boosting the current low contribution of non-oil exports, which had remained at about five years over the years.

Need for Trade Policies To analysts at the Financial Derivatives Company Limited, forex policy must always complement trade policy so as to achieve the overall objective of macroeconomic growth.

The FDC stated that forex policy alone is not a silver bullet.

The Head of Research at SCM Capital Limited (formerly Sterling Capital), Mr. Sewa Wusu, with the restructuring of the forex system, which has restored confidence in the economy, there is need for positive response from the fiscal authorities.

He urged the federal government to fine-tune policies around non-oil exports by creating incentives for exporters.

Wusu noted that if operators in the non-oil export sector are given the enabling environment and their products developed to be attractive and acceptable globally, it would earn the country enough forex and help strengthen the country’s earnings.

“Government needs to do a lot on the fiscal side because in the past few months, we have seen positive response from the monetary side.

So, there must be complementary efforts so as to help the country regain the lost momentum.

“So to complement the central bank’s effort, government needs to look at ways of ensuring that the economy, which had been diversified, according to records from the last rebasing exercise, it earnings potential of the diversified sectors are strengthened to attract the required forex inflows.

“What the government needs to do is to look at those sectors that had been diversified and create the right framework and enabling

environment for them to thrive, so that their products would be good for exports. That would help boost the forex revenue capacity of government,” Wusu added.

To the Managing Director/Chief Executive, Cowry Asset Management Limited, Mr. Johnson Chukwu, a flexible exchange rate system would provide opportunity for inflows from other sources other than crude oil sales.

He also urged the fiscal authorities address challenges faced by businesses in the country.

“I want to believe the federal government would back this new forex policy up with other fiscal policies, particularly as it relates to investments and in an area like infrastructure by making the infrastructure sector attractive for private sector investments.

“That would now help drive inflows. But what the central bank has done was most expected.

I think clearly, in the medium term, it would help open up the economy and help stabilise the exchange rate,” Chukwu said.

Also, the Chief Executive Officer of Afrinvest West Africa Limited, Mr. Ike Chioke recently urged the federal government to ensure the alignment between monetary and fiscal policies.

“When you talk about government revenue, oil is the key input. There is a declining consumer confidence and it trickles down the system.

But I feel government hasn’t done enough in cost-cutting,”Chioke said.

He added: “The CBN is right in saying there are certain items that we shouldn’t be importing.

But that actually is not the job of the CBN. The CBN should be focused on monetary. The fiscal authorities ought to design its policies by targeting growth enhancement in certain sectors.

Government needs to get its act together.”

He stressed the need for the federal government to direct policies to support critical sectors in the economy.

The foregoing shows that aligning monetary and fiscal policies have a strong influence on decision-making as the coordination of these policies is of great significance on restoring the economy. Inconsistent and uncoordinated policy-mix leads to poor economic performance of any economy.

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BUSINESSWORLD

ANALYSIS

Ecobank’s Drive for Financial Inclusion

With operations in 33 countries across Africa, Ecobank Transnational Incorporated’s consumer campaign ‘Move on Up’ is poised to penetrate and increase financial inclusion across Africa and also improve trade on the continent, writes Nume Ekeghe

The Ecobank Group recently launched a new consumer advertising campaign ‘Move on Up’ which is centred on the bank’s drive to ensure that consumers have accessible and convenient digital banking solutions across Africa. The strategy is to reach further deep into the 33 African countries it operates in by offering high end technology with various banking solutions and technology with an aggressive engagement with agent at competitively cheap rates.

Financial Inclusion Ambition Speaking at the launch of this campaign at the bank’s head office in Lome, Togo, the Group Chief Executive Office, Ecobank, Mr. Ade Adeyemi said the group direction with the campaign was to bring banking solutions through an array of channels as well as bring banking to the doorsteps of unbanked customers.

Adeyemi said: “There are 350 million mobile phones within the space in which we operate, and there are 150 million mobile money account in the space in which we operate, our people alone cannot depend on mobile money alone which is just wallet, they need to have an account they can call their own on which they can save, make payment, get loan if they so desire.

“What is new is to be able to offer the whole array of Ecobank across all our network to people irrespective of how much they can afford. At the end of the day, there is power in being able to open the door of house of everybody that wants to come in. there is value in having a large number of participants.

“There is value in being able to make an undertaken for every African that knocks our door, we would open knowing that most people cannot come to use physically but most people can come to us electronically. Because the phones and mobiles that we have today, is already in their hand and our job is to enable them use it properly.

“What is happening in Kenya today is happening in other places today. But remember, what we offer is for it to happen across Africa almost instantly and that is how at the end of the day, we can get to a situation where we are all included. Financial inclusion today, is something we talk about and even in Kenya, not everyone is included. Our job, responsibility and aspiration are to find a way to include everybody.”

Adeyemi

Expected Impact on Inter Africa Trade Currently, Ecobank wide network gives merchants and business owners ease of conducting their banking across a lot of countries in the continent.

Speaking on how it would improve inter trade, Adeyemi said: “As you know, when somebody goes to the port of Mombasa to buy something, sometime he takes it to Nairobi to sell. But most times merchants take goods to Rwanda, eastern Congo, Sudan, Uganda, Burundi because those places are landlocked. And in all of those places I’ve mentioned, we are the only bank that can be on a continuum to allow you to be able to transact.”

Agency Banking The group, which was one of the institutions that pioneered agency banking in Nigeria, said the move was part of its distribution strategy to take banking service to the doorstep of its customers.

Akinwuntan

Agency banking is expected to increase the bank’s retail distribution network by allowing it to provide basic banking services to its customers at cheaper rate than all its competitors.

Also speaking on this, Group Executive Consumer Banking, Ecobank, Mr. Patrick Akinwuntan said: “The most important part of this campaign is the opportunity for every African across our 33 countries to have access to banking service.

“It is first access because of our network and because we are offering accounts now on digital channels either on a prepaid card, internet or on the mobile. With our network of ATMs, internet, Pos Mobile money, we are able to be present 24/7 to every African across the 33 countries were we are in.

“In the past, we would say before you come to open an account, you need a certain minimum balance, now we are going to use agents around who are not necessarily in the main branch who would be able to open an

account for you. And you have your account on your mobile phone, through the internet and cards. Customers would be able to transact without going to the bank. Today, we have 6000 agents and we are recruiting more agents. It is about bringing the banking services to you.”

Cost Implication Furthermore, commenting on cost, Akinwuntan said the price would vary across countries, adding that Ecobank would offer all their services at a cheaper and competitive rate.

He explained: “In terms of cost, we would introduce a particular account were as long as you maintain your money with the bank, you would have the lowest charge in the market. Of course we have to put it by each country, but the whole idea is to bring in as many people rather than saying you need to have CFA5000 or CFA 50,000. We want to attract customers and we would ensure that it is the lowest charge in the market.”

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BUSINESSWORLD

INTERVIEW

Gwadabe: BDCs Should Have a Role in New Forex System The President, Association of Bureau de Change Operators in Nigeria, Alhaji Aminu Gwadabe spoke with Obinna Chima on issues surrounding the new FX policy, just as he urged the Central Bank of Nigeria to save the informal FX market from collapse What role do you think BDC operators can play under the new forex system?

The role that the BDCs can play, we have always emphasised it. The BDCs have the network and distribution capacity, the convenience, potency and ability to serve the critical retail segment of the economy.

The banks do not have the network to ensure that dollars circulate to the retail segment of the economy. Remember the BDCs are up to 3,000 in Nigeria, with wide network, far and wide. If you go to a lot of states, you can even count the number of bank presence, but you will always have BDC operators.

If you fly into the country at 2am, at the airport, you will not meet any bank that is open for you to do your transaction. If you want to buy $300, the banks may not look your way, which is why you need BDCs around you. From 2006 to 2015, the BDCs helped the CBN in converging the exchange rate between the official and black market because we are the ones that can trickle down the circulation of forex. We are real traders; we are not like banks that have idle naira. It is only when you have idle naira that you have the capacity to speculate or hoard currency. We all know that a lot of banks have idle funds, which they even take to the CBN. But the BDCs move the dollars into the market as they buy it. And this is not peculiar to Nigeria because the role of BDCs in other economies have been tremendous. Go to India, BDCs provide nothing less than $30 billion to the through remittances alone. Algeria also has strong inflow of diaspora remittances. In the United Arab Emirate, the BDCs in Dubai alone provide the foreign currency cash need of banks. Go to Lebanon, their economy is highly dependent on the activities of BDCs as a result of diaspora remittances and all these things are packaged and rooted through the operations of BDCs and banks are not even involved. Every time you attempt to make banks as primary market operators in the forex market, which is not supposed to be because in other climes, banks have nothing much to do with foreign exchange.

They are either creating deposits or giving out loans. That is their traditional role in the economy. The CBN is the one that registered the BDCs and up till tomorrow continues to register BDCs. But the central bank has said your members can remain in business, but just that you have to source for your forex. Is there an issue with that?

One of the sources BDCs get funds is diaspora remittance. This does not go to the forex reserves account because it is not part of oil proceeds. Last year, we had $21 billion of diaspora remittances and we expected that to move to $35 billion. Out of the $21 billion that was inflow, do you know that it was only $3 billion that was accounted officially? We asked the central bank to give us that money, by allowing the BDCs to be assessing it. Everybody is now happy with the single rate market structure and there is no unfair favouritism to say someone is buying at N197 and has the opportunity to sell as N300 as they have always alleged, so why are they still scared of the BDCs? Are you members happy with the new forex policy that was recently introduced by the CBN? We are comfortable with it because we believe it is going to generate liquidity, but we are not comfortable with it as long as it states that we cannot participate in that market. They said we can source for forex, but let us identify the sources of forex

Gwadabe

inflow into this country. In that market, if you look at the sources, they talked of the CBN supply, supply from international oil companies, international investors and export proceeds. So, which other source of forex is remaining for our members? The only one remaining is inflow from tourists. How many tourists come to Nigeria? Don’t forget, the BDCs have strong competitors, which are the black market operators. So, which source are they saying? Do they want all of us to convert to black market operators? If care is not taken, that is what we would begin to see and that could lead to job losses, fake forex in circulation and other vices may come back. So, it is in their own interest to think outside the box to find a role for BDCs. We are the retail market makers and

they cannot take that away from us. I have given you many instances. I listed almost six different sources that are in the market earlier. They export proceeds; can I buy forex from exporters as a BDC? No! Someone in the diaspora wants to send money to his grandmother in Nigeria; I also will not be allowed to buy the fund. An investor from Ghana that has dollars and wants to invest in our stock market cannot come to me to sell the dollars. So, the only dollar I can buy is from tourist. What is the percentage of tourists in this country? Johannesburg alone generates over $3.5 billion annually from tourism, while Nigeria does not make up to $100 million from tourism. So, we have over 3,000 BDCs. So, we support the new forex regime because people would be more

comfortable to bring in forex.

So how do you think the gap between the interbank and the parallel market can be bridged?

There must be a gap because already the 41 items that were excluded from accessing forex are to be funded from the black market.

Also, you must understand that Nigeria is an import-dependent economy and this would continue to put pressure on forex. So, it is going to take time to that gap to be bridged.

Yes, we can achieve it, but it is going to take time. But the introduction of the BDC into the new system will definitely reduce that gap or eliminate it completely. It is easier to say it’s the BDCs that causes the spike, but BDCs have been totally shut from the market.

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BUSINESSWORLD

ANALYSIS

The Onerous Task of Enforcing Compulsory Insurance The enforcement of compulsory insurance launched in different parts of the country in 2009 is still a big challenge to industry operators, writes Ebere Nwoji Seven years after the launch of the six compulsory insurance policies nationwide, insurance industry operators are still grappling with the enforcement.

Indeed, the industry is still very far from realising the objective, which is to ensure that Nigerians are compelled by law enforcement agents to patronise these compulsory insurance policies with the overall objective of getting more Nigerians into insurance net and increase the industry’s premium income as well as the its contribution to the Gross Domestic product(GDP) of the economy.

The compulsory insurance policies are those classes of insurance made compulsory by law, with the objective of providing protection to third parties and the general public.

They include Builders Liability insurance under the Insurance Act 2003 and the Lagos State Building Control Law 2010; Construction All Risks insurance, Occupiers Liability under the Insurance Act 2003 and Lagos State Law; Employers Liability, (Group Life) under the Pension Reform Act 2004; Healthcare Professional Indemnity under the National health Insurance(NHIS) Act 1999; Motor Third Party Liability under the Insurance Act 2003.

By explanation, Builders Liability Insurance requires that all owners or contractors of buildings under construction that are more than two floors must purchase insurance cover to provide compensation in event of bodily injury, death and property damage to workers at construction sites and affected members of the public in the event of collapse of the building and other construction risks.

The Occupiers Liability Insurance requires that all owners or occupiers of public buildings, whether private or public, should provide the insurance cover under the National Insurance Act 2003 and the Lagos State Building Control Law 2010. According to the 2003, a public building is any building that is not 100 per cent used by the owner for residential purposes.

Public buildings include tenement houses, hostels, residential buildings occupied by tenants, lodgers or licensees, and any other building to which members of the public enter and exit for the purpose of educational, recreational or medical services.

Employer’s Liability or Group Life Insurance requires that all employers of labour with more than three employees provide insurance cover for them as required by the Pension Reform Act 2004.

The penalty for non-compliance with this law is N250,000, record of conviction, and in addition the place of business may be sealed up.

The Healthcare Professional Indemnity Insurance is the policy that stipulates that all licensed health care providers and medical practitioners such as doctors, nurses, pharmacists, etc should provide insurance cover under the National Health Insurance Scheme (NHIS) 1999. The law stipulates that they should have insurance that will protect their patients in case of accidents or fatalities (death) resulting from professional negligence.

This type of insurance provides compensation to patients and their relatives in the event of involuntary murder, disability, shock and injury suffered by patients as a result of the negligence of Health Care Providers. The penalty for non-compliance with this law is a possible revocation of licence by the National Health Insurance Council.

The third party motor liability insurance requires that every motor vehicle user should insure the motor vehicle against liability as to death, bodily injury or damage to property of a third party arising from the use of the vehicle.

The penalty for non-compliance is a fine of up to N250,000 plus one year imprisonment.

Enforcement of these insurances was one of the objectives of the industry regulator, the National Insurance Commission (NAICOM) in launching its Market Development and

Alhaji Auwalu Muktari, Group Mana ... Director, Royal Exchange

Restructuring Initiatives( MDRI) in 2009.

After the MDRI launch, NAICOM also launched the compulsory insurance policies in the six geopolitical zones of the country.

The launch witnessed many activities by the industry players and the regulator such as road shows, posters, distribution of hand bills and other means of advertisement and awareness campaigns.

But despite all these efforts, the industry is yet to achieve its objective in this regard.

Indeed, pushing of the retail insurance from all sense of judgement is becoming a lot easier for the industry than the enforcement of the compulsory insurances.

Recently, both the outgoing chairman of the Nigeria Insurers Association(NIA) Mr. Godwin Wiggle and the president of the Chartered Insurance Institute of Nigeria (CIIN) Mrs. Isioma Chukwuma, said enforcement of the compulsory insurances has remained the greatest challenge to the industry.

This is so despite the all important nature of the compulsory insurance policies to the third party.

For instance, builders have refused to patronise the Builders Liability Insurance and Occupiers Liability insurance whereas cases of collapsed buildings that have killed workers at construction sites and public buildings that collapsed killing the occupants abound in different parts of the country.

Dependents of victims of these unfortunate incidents are often left uncompensated.

The third party Motor insurance which is the only one enforced by the law enforcement agents is often bought with the spirit of fulfilling all righteousness, as such, the buyers often buy from fake insurance operators for the purpose of crossing police check points .

The insurers, in order to guard against this, introduced the Nigerian Insurance Data base (NIID) with the aim of checkmating the activities of the fake insurance operators.

Despite this, recent report said that about 12 million vehicles ply Nigerian roads with fake insurance certificates.

Wiggle

The result of this is on overall premium generated by the industry which year in year out falls below expectation while the industry’s contributions to the national GDP remain static.

For instance, during the official launch of the builders liability insurance, insurers had projected that if well implemented, the policy alone would generate N10 billion premium annually for the industry.

But three years after, statistics released by NAICOM on premium from the compulsory insurances said that insurance in 2012, earned N28.68 billion from all the classes of compulsory insurance policies.

Even today, there has not been significant improvement just as enforcement of the compulsory insurance policies has remained a major challenge to the industry operators.

Outgoing Chairman of NIA, Mr. Godwin Wiggle, confirmed that the greatest challenge to the industry operators has remained enforcement of compulsory insurances.

Wiggle, said recent report on 12 million 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 regretted that one of the things that make 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 advised government to play its role in this regard, pointing that although the insurers are doing their best in pushing the compulsory insurances like the third Party Motor Insurance 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 and more Nigerians, now make effort 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.

Also Mrs. Chukwuma spoke on the need to implement the compulsory insurances nationwide saying the industry has lost a lot on account of the non enforcement of the policies.

She said against this back drop, the institute has embarked on awareness campaign in order to create awareness among Nigerians.

The Insurers Committee, at its June meeting, said it has taken decision to embark on rebranding of insurance industry with the youth as their main target.

At the mega insurance conference held by the industry last year, participants at the conference agreed to reach out to law enforcement agencies by way of collaboration to enable them enforce the compulsory insurances.

Industry observers said one of the reasons for non compliance with the compulsory insurance law by Nigerians is because government’s law enforcement agencies have not taken it serious to enforce compliance so Nigerians are violating the laws at will.

Insurers in recent time have approached state governments for the purpose of enacting laws on compulsory builders insurance since there are cases of building collapses in different states but only Lagos State government and IMO State government have done something on that.

Their only hope now is that the Insurance Act being amended by the lawmakers will spell out modalities for enforcing the compulsory insurance policies.

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BUSINESSWORLD

INSURANCE

NIPR Calls for Insurance Industry Support in Driving Professionalism Stories by Ebere Nwoji The Nigeria Institute of Public Relations (NIPR), Lagos State Chapter, has called for the support of Insurance Industry image makers and Corporate Communications Managers in driving professionalism in Public Relations the practice in Nigeria.

The institute made the called during its recent visit to the Association of Corporate Affairs Managers of Insurance

Companies, under the auspices of the Nigerian Insurance Association (CAMCONIA).

Led by its Chairman, Mr. Olusegun Mcmedal, the NIPR delegate said its main purpose of the visit was to seek the support of CAMCONIA in driving professionalism in the practice of Public Relations in the country, with particular reference to the insurance industry.

Mcmedal added that the visit was necessary to educate

members of CAMCONIA on the need to become members of the Public Relations Professional body and leverage on the advantages and benefits of joining the institute.

According to him, NIPR is a member of the Global Alliance for Public Relations and Communications Management, and member of the NIPR automatically confers membership of the Global Alliance, as well.

He said the Global Alliance

for Public Relations and Communication Management is the confederation of the world’s major PR and communication management associations and institutions, representing 160,000 practitioners and academics around the world, and is a non profit organisation based in Switzerland, whose mission is to unify the public relations profession, raise professional standards all over the world, share knowledge

for the benefit of its members and be the global voice for public relations in the public interest.

Responding, Chairman of CAMCONIA and Head of Corporate Communications, STACO Insurance Plc, Mr. Tunde Odeyemi, thanked members of Lagos NIPR for their visit and assured them of valuable support to enhance the practice of Public Relations in Nigeria.

He said this is in align-

ment with the firm decision to strategically rebrand the Insurance Industry, adding that members of CAMCONIA, who are not members of NIPR, will be willing to become members of the Institute during its next induction of new members.

Other members of the Lagos NIPR delegation include Thelma Okoh, General Secretary; Oladapo Soneye, Assistant General Secretary and Toyin Adeseun-Nwosu, Public Relations Executive.

NAICOM to Sample Blue Print of RBS Next Month Determined to reposition the insurance industry to attain the global best practices status, the National Insurance Commission (NAICOM), said it will in July this year, expose the draft of its much talked about Risk Based Supervision (RBS) model to insurance industry operators.

The Commission, said the model will ride on the Solvency 2 supervisory principle in regulating the industry operators’ activities.

The risk-based supervision, according to the World Bank, is a supervision approach that considers each of the risks that companies face and through a structured process, identifies the risks that are most critical to the financial viability of the institution.

Under the model, the supervisory on-site review process looks at the management of the key risk areas of a company and focuses attention on the critical net risk exposures.

NAICOM has since last year, been crusading on the introduction of the European market supervisory initiative in Nigerian market.

At the meeting, the commission informed the insurers that it will expose them to a blue print of the model next month.

Meanwhile, the insurance industry committee, rose

from its June edition of its bi -monthly meeting with a decision to rebrand insurance industry and expose Nigerians to core benefits of insurance in their day to day living.

Vice Chairman , publicity sub committee and managing Director Zenith Insurance, Ebelechukwu Nwachukwu, who disclosed at a press briefing on the outcome of the June edition of the committee’s meeting, said the commission, at the meeting, hinted that it will next month exposé the draft of the RBS model to the insurers in preparation for its proper take off.

She said the draft will serve as a roadmap of what the actual implementation of the model will look like.

She said it will also enable the operators go through the model and make their input where necessary.

Nwachukwu, said in its effort to deepen insurance penetration and ensure better service delivery to Nigerians, the committee, has resolved to rebrand the insurance industry with the Nigerian youths as its main target.

She said the aim of the rebranding was to educate the insuring public and the younger generation on the actual benefits of insurance.

SlimTrader to Host Business Empowerment Forum One of Nigeria’s leading turn-key e-commerce solution provider for businesses, SlimTrader, is set to host its inaugural empowerment forum for owners and managers of hotels and hospitality businesses in Nigeria on June 29, 2016 at the Federal Palace Hotel, Ahmadu Bello Way, Victoria Island, Lagos.

The event themed: ‘Positioning Your Hotel for Greater Sales’ is set to be the first-of-its-kind in the country. It would feature talks and workshops led by experts in the hospitality, business and finance sectors.

Confirmed speakers at the conference include the Divisional CEO, Switching and Processing, Interswitch Limited, Akeem Lawal; Founder of Amplitude Solutions and a renowned Hos-

pitality Operations and Training Consultant, Bruce Prins; holder of multiple technology patents and leading hotel technology development expert, Martin Pagel; and Country Manager, Mall for Africa and erstwhile Director for Marketplace at Konga.com, Mr. Kunle Oguneye.

Also attending, to share from their breadth of experience in running successful hotels in Nigeria, are the co-founder of Bogobiri House, Tola Akerele, as well as the Managing Director, Fahrenheit Hospitality Limited (FHL), Mr. Anthony Shisler.

The forum is set to be Nigeria’s biggest platform for hotels to managers and owners to learn important strategies to make their businesses even more profitable in these dire economic times.

FOR TECHNOLOGY ADVANCEMENT

L-R: Treasurer, Nigeria Internet Registration Association (NIRA), Biyi Oladipo; Head, Online Media/ Special Publications, Nigerian Communication Commission (NCC), Mr. Okoh Aihe; CEO/Principal Consultant, KITBENJ Ltd, Elizabeth Olofin; Managing Director, Rack Centre, Mr. Tunde Coker; and Vice President, Network Operations, Airtel, Dr. Adedoyin Adeola, at the Nigeria international technology exhibition and conference tagged, ‘Trending Technologies’ in Lagos…recently etop ukutt

CIIN to Collaborate With NUC, NBTE on Syllabuses of Institutions Offering Insurance The Chartered Insurance Institute of Nigeria (CIIN) , said it has commenced discussions with both the National Universities Commission (NUC) and the National Board for Technical Education (NBTE), to accommodate its input in the syllabuses of institutions offering insurance either as a subject or as a course of study.

CIIN president, Isioma Chukwuma, who disclosed this during a press briefing organised by the institute in Lagos, said CIIN, has identified relevant local and foreign Institutes Examination Syllabuses for alignment and ease of conversion.

“We are engaging the identified institutes to agree on subject by subject exemption for CIIN Diploma,” she said.

She said considering the dynamic nature of the insurance profession and in order to continually benchmark the examinations syllabus with the most relevant insurance professional bodies worldwide, the institute, is close to concluding a syllabus review to ensure that its professionals stand at par with their foreign contemporaries.

Chukwuma said CIIN is committed to and is presently exploring every means possible at situating itself as a brand on the global stage, adding that the institute is presently fine-tuning its exemptions relationships with CII (UK).

“We have consolidated the existing off-shore examination centres of the institute in Banjul, The Gambia and in Kigali, Rwanda and presently pursuing

with vigor the extension of the frontiers of its professional examinations to the West African sub-region and other parts of sub-Saharan Africa.”

Chukwuma, also said CIIN has gone far in discussing with the office of the Head of Service of the Federation, for the gazetting of the institute’s professional qualifications for employment purposes in the Civil Service.

She said the process, when completed, would become an added advantage to holders of the institute’s certificate seeking employment into any government institution across the various levels and tiers of government. The CIIN president, also said the institute, recognises the role of the media in projecting its ideals and has

continually engaged the media in propagating same.

According to her, CIIN, has embraced new media platforms in order to reach out to the younger generation to attract them to the study and practice of insurance.

She informed that the institute can now be reached via social media outlets like Twitter, Facebook and Instagram, adding that it can constantly be employing all avenues available to raise the awareness and acceptance of insurance during her tenure.

She spoke on other activities engaged by the institute to promote insurance awareness in the country, saying the institute, launched and published textbooks on insurance and distributed the same to senior secondary schools in the country.

National Insurance Conference Holds July 10 Issues bothering on expanding national resources and infrastructure in challenging times, will form the main thrust of this year’s edition of the National Insurance Conference organised by the Insurance Industry Consultative Committee (IICC) to be held at Transcorp Hilton Abuja.

This year’s edition of the conference, the second in the

series, could not have been more timely and apt than now, when the policy direction of the present administration, is towards re-building a virile national economy through diversification and expansion of national and infrastructural resources.

She said it is an irony that in spite of the nation’s past economic buoyancy, little

premium was placed deliberately on building, maintaining and expanding national resources that would stand the test of time.

According to her, it is commendable that the present administration has made economic diversification and infrastructural development, its major policy thrust by committing so much money to critical sectors, such as works, roads and power.

According to her, the insurance industry, on its part, would like to complement the focus of the present administration in this direction through the national conference.

“It is a known fact that there is no genuine effort by government aimed at revamping the national economy that would be sustainable without consideration paid to the pivotal place.

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Brexit Could Hurt UK Airfreight Market Chinedu Eze The United Kingdom (UK) air transport industry is expected to shrink by 3-5percent by 2020, due to the expected downturn in economic activity and the fall in the sterling exchange rate, which value has already crashed to a three-year low.

Specifically, the International Air Transport Association (IATA) in its preliminary analysis of the financial and economic impact of the Brexit decision on the air transport industry noted that the near-term impact on the UK airfreight market is less certain, but freight would be affected by lower international trade in the longer term.

IATA observed that a big issue is with aviation regulation as the UK faces a trade-off between accessing the European Single Aviation Market and having the policy freedom to set its own regulations.

“The Brexit vote has triggered much uncertainty—financial and otherwise. As leaders in the UK and the EU work to establish a new framework for their relationship, one certainty to guide them is the need and desire of people on both sides of that relationship to travel and trade. Air transport plays a major role in making that possible. There were 117 million air passenger journeys between the UK and the EU in 2015. Air

links facilitate business, support jobs and build prosperity. It is critical that whatever form the new UK-EU relationship takes, it must continue to ensure the common interests of safe, secure, efficient and sustainable air connectivity,” said Tony Tyler, IATA’s director general and chief executive officer,” IATA said.

The world body observed that the main points of the report include the fact that the UK has voted to leave the EU – the so-called ‘Brexit’ scenario, noting that considerable uncertainty remains regarding the precise detail of the exit and it could be two years or more before the issues are fully resolved;

adding that prolonged uncertainty would influence both the magnitude and persistence of the economic impacts.

According to IATA, the immediate impact on air traffic would be governed by the effect of Brexit on two key variables: economic activity and the sterling (GBP) exchange rate.

IATA said the referendum result is widely expected to present a significant negative shock to the UK economy.

It stated that the most pronounced near-term impacts derive from heightened uncertainty, causing businesses and households to delay spending and investment decisions, as well as transmission via

financial channels.

The International Air Transport Association maintained that the impact of Brexit is expected to be a permanent downward shift in the level of GDP, not a temporary impact that is recovered after a period of time.

IATA pointed out that income elasticities between income (proxied by GDP) and air travel demand vary – for example, between developed and emerging markets – but are consistently positive and greater than one while developed markets are estimated to have an income elasticity of 1.3 at a national level.

“It may be that a simple income elasticity approach

picks up other factors that affect demand for air travel over the long run, such as trade openness among others.

Consequently, a conservative approach would be to use a unit elasticity between GDP and air travel in the near term”, the report said.

The preliminary estimates also suggested that the UK is dominated by outbound traffic , The UK air market is dominated by outbound traffic, with such traffic accounting for just over two-thirds of total flows (in 2015 there were 53.9 million visits overseas by air

by UK residents, compared to 26.2m visits to the UK by overseas residents).

Arik Reaffirms Maintenance Partnership with Lufthansa Technik One of Nigeria’s airline, Arik Air has reaffirmed its partnership with Lufthansa Technik, the maintenance, repair and overhaul subsidiary of Lufthansa German Airline.

Officials of the company, which is providing technical/ maintenance support to the Nigerian carrier, met with Arik officials in Lagos at the weekend.

Director, Line Maintenance Network and Technical Operations Management, Lufthansa Technik, Jurgen Hupe, at the end of a recent visit to the airline’s

facilities in Lagos, said the firm majorly handles maintenance for Arik Air’s B737NG fleet, adding that they have been in partnership with the carrier.

He noted that it was their wish to continue handling maintenance work of the airline for many years to come.

“We are happy to work for Arik and would like to see Arik thrive and play a more important role in the market in the region as well as in the international market. We will do our best to be a good partner to help Arik

in achieving this.”

Deputy Managing Director and Senior Vice President Operations, Arik Air, Capt. Ado Sanusi said the airline is committed to its partnership with the company, stressing that they are satisfied with the partnership with Lufthansa this far. “They are the most experienced MRO in the world and we look out for the best. There was a bid, which Lufthansa Technik won at that time. We are very satisfied with their level of partnership.

We are looking forward for a

deeper partnership.”

He called for viable Maintenance Repair Overhaul (MRO) in Africa, saying it would bring down the cost of operations.

“There is no viable aviation industry in anywhere in the world where there is no MRO facility. Yes, of course, it is very good to have a maintenance facility in the region. It would definitely bring down the cost.

But again, like I have said, it is nothing like you just turn on the switch and you have an MRO.” “It is something you have to

actually plan, something you have to strategise and develop.

It takes years. People have to be trained, people have to gain the experience and customers must have confidence in that kind of MRO. It is not something that we rush into; it is something that has to be studied, developed right from the grass-root all the way up.”

Hupe said long gone are the days when Lufthansa Technik’s expertise advantage stemmed solely from its support of Lufthansa´s flight operation.

The company now serves about 800 customers all over the world: airlines large and small, charter carriers, operators of VIP aircraft, airlines whose aircraft have to fly under extreme climatic conditions, or whose aircraft are subject to the strain of short-haul traffic with frequent takeoffs and landings.

More and more airlines are outsourcing some or all of their fleet maintenance and overhaul to external specialists with strong technical know-how.

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Debt Management: Panacea to Economic Evolution Ifeanyi Omokwe The promise of Change by the President Muhammadu Buhari-led administration is one that should take a holistic approach to curb the issue of unemployment and investment in the country. So it was not unexpected, when on June 20, 2016, the Debt Management Office unveiled what seems to be an airtight strategy to manage Nigeria’s debt going forward. Contrary to the situation that led to the 2004/2006 strategy, the new debt management strategy takes an almost 180 degrees turn to address current issues in the economy viz the vision of President Buhari.

In a nutshell, it was originally argued that the best way to manage Nigeria’s debt profile is to reduce the level of external borrowing and increase the rate of domestic borrowing; precisely 84% domestic borrowing to 16% external borrowing, the new thinking canvasses a marginal increase in external borrowing, in both the short and long term.

A decade ago, the ideal strategy in view of the Paris and London club’s debt relief to the country. However, there were downsides to the notion such as the unavailability of the needed fund in by the private sector to sustain local industries to culminate in the needed economic leap. The result of this single factor dwarfs the possibility of an effective diversification of Nigeria’s economy.

In view of the above, logic therefore demanded that a review is done on the internal to external debt ratio. Hence, the DMO came up with a new ratio of 60:40 borrowing template. According to the office, it is intended to keep money in the hands of private investors in order to spearhead a private sector driven economy. Ultimately, it is expected that this will translate into job creation and a diversification of the economy.

An analogy given in “A Tale of Two Cows” expresses the traditional capitalist action when resources are limited. It goes thus, you have two cows; you sell one and buy a bull. Your herd multiplies, and the economy grows. You sell them and retire on the income. Fortunately, this is where Nigeria finds herself today because the economy finally gets serious attention to diversify.

The question of where we are coming from should find some sort of relevance here.

Likened to an American corporation that has two cows; you sell one, and force the other to produce the milk of four cows. Later, you hire a consultant to analyze why the cow has dropped dead.

Going forward as a nation, it is important that investors are not over labored with a perfectly avoidable mix of reduced resources and a demand for increased productivity; this is bad business and a strategy for failure given the dwindling prices of oil. Just like the central bank’s flexible foreign exchange rate policy, the DMO under the able leadership of Dr. Abraham Nwankwo has scored a major goal in Nigeria’s drive for an economic quantum leap and deserves the applause for his ingenuity and intellectual sagacity.

The DMO boss, who recently addressed members of the media in Abuja on further insights into Nigeria’s Debt Management Strategy (2016-2019), described the new document as one which would be broad-based as well as inspire confidence in Nigerians.

He noted that the new four-year borrowing plan was appropriate for the times and challenges as well as appropriate for the country’s vision going forward.

He 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 borrow-

President Buhari

ing 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% domestic and 16% external to 60% domestic and 40% 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 percent short-term and 69 percent long-term to a maximum of 25% short-term and a minimum of 75% long-term.

“So we are remixing between external and domestic and we are also remixing within the domestic, between short and long-term. ”And when we look at the opportunities and possibilities which are very credible given our resource base, given the number of things we can do better than we’ve ever done, there’s no doubt then that in the next few years, there will be significant improvements in employment generation, poverty reduction and in the living standards of our people and more importantly, we should be inspired by the fact that the picture of the future which we see is a sustainable one; it’s not one that will be bedeviled as in the past by volatilities in the oil market.”

Further justifying the rationale behind the external borrowing particularly at a period of unfavourable exchange rate regime and lower reserves, he said: “One of the major advantages of remixing in favour of external debts is that first, we will be able to achieve cheaper cost of funds, therefore lower debt servicing but more importantly, we will be avoiding the risk of crowding out the private sector from access from the domestic markets.

“As you know, within the context of

government’s economic programme which requires massive investment in infrastructure, and diversification of the economy, the private sector is still expected to play the lead role so that as government makes its own expenditure in infrastructure and improving the business environment, you expect the private sector to key in, in developing the various sectors of the economy including agriculture, solid minerals, manufacturing among others.

“Therefore, given the momentum government is bound to create in resuscitating the economy, the private sector would be expected to require massive resources as well and it becomes necessary to leave more space for the private sector to mobilize the resources they require to be able to complement government’s initiatives.”

Looking at the trend, Nwankwo has made sustained effort in outlining Nigeria’s public debt management objectives by ensuring the growth and development of the country’s domestic and international securities markets, meeting government’s financing needs at minimal cost and with prudent degree of risk over the medium to long-term and also the efficient management of Nigeria’s public debt in terms of well-diversified and sustainable debt portfolio, supportive of government and private sector needs.

Beyond the need to diversify the economy, Nwankwo also said Nigeria may still access the Eurobond or sovereign sukuk market for more cash but hinted that the country was yet to determine the size of a potential sukuk deal and was working with the Securities and Exchange Commission (SEC), the Central Bank of Nigeria and the stock exchange to build capacity. Besides, Nigeria’s low debt to Gross Domestic Product (GDP) ratio means the country can borrow more to fund budget,

infrastructure and other essential projects that will stimulate the economy and create jobs for the citizenry.

Also, speaking at a one-day workshop on “Public Debt and the challenge of financing Nigeria’s economic recovery” organised for Capital Market Correspondents Association of Nigeria (CAMCAN) in Lagos, the DMO boss reiterated the federal government’s stance to use all money to be borrowed to finance the 2016 budget to fund capital projects.

Nwankwo stressed that the Nigerian debt level is highly sustainable, noting that the nation still had a lot of idle potential, which the current administration is working to harness for effective growth of our national economy.

According to him, in the medium to long term, debt sustainability in Nigeria hinges on the overall sustainability of the economy, and the overall economic sustainability hinges on diversifying the economy in a sustainable manner.

On revealing the three year debt management strategy which will run from 2016 – 2019, Dr. Nwankwo 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.

By way of conclusion, this solution is not a quick fix for local industries in an economy that has been laid unattended. Rather, it is an enduring effort that will ensure local industries organically erupt as a result of the availability of funds in the hands of private individuals.

•Omokwe wrote in from The Gazetter Newspaper

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Reaping the Benefits of Banking Consolidation

CBN Building

James Roland One of the enduring legacies of the banking consolidation exercise of 2004/2005 is the emergence of very strong, wellcapitalised and robust Nigerian banking industry, hitherto weak and undercapitalised. Twenty five healthy banks emerged from the exercise and there have been occasional mergers and acquisitions in the industry ever since. One of the major banks that emerged from the exercise was Skye Bank Plc, a modern and customer serviceoriented bank with branches spread across the country.

Skye Bank Plc is one of Nigeria’s largest banks providing financial services, using cutting-edge technology, to meet the needs of customers in different segments.

A top-tier Nigerian lender, Skye Bank recently rolled out the drums to celebrate its 10 years of existence, its customers and employees.

The bank is a product of the merger of five legacy banks as a result of the banking industry consolidation and recapitalisation exercise of 2005. The legacy banks were Prudent Bank Plc, EIB International Plc, Bond Bank Limited, Reliance Bank Limited and Co-operative Bank Plc. Following the merger and the seamless integration of the disparate resources, personnel, IT infrastructure, culture and procedures, the bank has since grown into a formidable financial institution showing strong growth and profitability and providing unique financial solutions to a wide customer base both in Nigeria and in the three West African subsidiaries of Sierra Leone, Gambia and Guinea. From a modest beginning in 2006, with total assets of N174.19 billion and shareholders’ funds of N26.08 billion, Skye Bank now has total assets in excess of N1.4 trillion and shareholders’ funds of over N140 billion.

The bank has also grown from one with a couple of branches only in Nigeria, to one with over 400 branches and three banking subsidiaries in West Africa, located in Sierra Leone, The Gambia, and Guinea in line with its strategy of seeking the most efficient avenues for creating value.

From a very lowly rank 23 out of 25 banks (in terms of size) at the time Nigerian commercial banks executed the consolidation exercise in 2006, Skye Bank has grown to become one of the eight strategically important banks in Nigeria with proven expertise in diverse segments of the economy, and a head-start in many profitable sectors of the economy, which clearly affirms its market leadership and brand awareness.

In 2014, in a quest to provide better customer experience, Skye Bank won the bid to acquire 100 per cent ownership stake of Asset Management Corporation of Nigeria (AMCON) in Mainstreet Bank Limited, a deal which made Skye Bank one of the top four banks in Nigeria with branch network of over 400 and close to 900 Automated Teller Machines spread across the country.

Speaking on the milestone, the Group Managing Director/Chief Executive Officer of the Bank, Mr. Timothy Oguntayo, said the bank had in its decade of integration and existence, recorded notable achievements and received awards, accolades and recognition at home and abroad. Specifically, Oguntayo enthused that the bank now boasts a robust and cutting edge technology and an electronic payment channel acclaimed as among the best in the industry.

The bank, he said, had supported many start-ups and nurtured their growth from infancy to publicly quoted companies in addition to several companies it provides funding and facilities for.

Oguntayo noted that the expanded branch network would enable the bank to provide convenience and proximity banking to its

retail, SME and commercial banking customers, areas where the bank wants to focus.

As a proof of its status as one of the top market leaders, the Central Bank of Nigeria (CBN) named Skye Bank and seven others as the Eight Systemically Important Banks (SIBs) in the country. By this recognition, which came about on account of its considerable market share, Skye Bank has become one of the market leaders that cannot fail.

In demonstration of its continued commitment to offer its customers and stakeholders enhanced satisfaction in a more stable and secure environment, Skye Bank attained three International Standard Organisation (ISO) certifications by the British Standard Institution. The three integrated management systems certifications are the Information Security Management System ISO/IEC 27001:2013, IT Service Management System ISO/IEC 20000-1:2011 and Business Continuity Management System, ISO 22301:2012.

ISO/IEC 27001:2013 is the most rigorous global security standard for information security. Ultimately ISO 27001 provides a high level of confidence and trust in organisations that are certified to it. It confirms that an organisation has put in place best practices for information security processes and has ensured data integrity, confidentiality and most of all customer asset safety. By obtaining certification to ISO 27001, Skye Bank gains a competitive advantage.

ISO 20000-1 puts in place controls to measure and maintain consistent levels of IT services, through the integration of people, processes and technology to support business and customer objectives. It acknowledges a high level of efficiency in IT service provision and an ability to continuously improve the delivery of IT services.

ISO 22301 allows organisations to identify potential threats and unexpected disruptions. With ISO 22301, organisations will not only significantly reduce the risks to

their businesses, but will also help achieve operational resilience.

Skye Bank is quoted on the Nigerian Stock Exchange (NSE) with over 450,000 diverse shareholders with a shareholding structure that puts no more than 5 per cent in the control of any one individual or company.

In recognition of its excellent contribution to the economy and the communities in which it operates, Skye Bank has won several awards in several fields and activities. They include the ‘Best Merger and Acquisition Deal of the Year 2015’ from the Lagos Chamber of Commerce and Industry on account the acquisition of Mainstreet Bank; The ‘Best Manufacturing Supporting Bank’ by BusinessDay Newspaper in 2013; ‘Best Mobile Money Activation Bank in conjunction with ChamsMobile.

Others are the prestigious ‘Industry Leadership Award’ from the Institute of Direct Marketing (IDM) as the “Most Customer-friendly Bank” in the financial services industry. Skye Bank’s consolidation of its operations in 2005 was also recognised by Vanguard Newspaper as the “Best Seamless Consolidation Bank” in the Nigerian banking industry while the process earned the THISDAY Newspaper awards as the “Best Bank in Mergers, Acquisitions and Consolidation.”

In early 2006, the bank was adjudged by M2 Magazine, a specialised marketing management publication, as having the “Most effective and efficient ATM” in the banking industry. The magazine hinged its decision on the reliance of SkyeBank’s Automated Teller Machines (ATMs) at various locations during the seven-day public holiday within the period. Additionally, Skye Bank won the prestigious Nigeria Telecoms Awards as the best bank in e-banking in 2007.

• Roland, a financial analyst writes from Lagos

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Mercy Corps, MasterCard Target 18,000 Women in Financial Inclusion Strategy

James Emejo in Abuja

Mercy Corps and MasterCard have said they target to register 18, 000 young girls and women in Nigeria to receive a NeID card, to help provide access to their first formal identity and basic financial services.

Under the landmark initiative, over 2,000 young women have gone through the Mercy Corps/ MasterCard programme while

more than 6,000 participants from across Mercy Corps programmes have been registered for the multi-functional eID card. About 100 participants have already received their card.

Speaking in Abuja during a stakeholders’ meeting of Nigeria’s financial inclusion pioneers organised by Mercy Corps and MasterCard to experience sharing among key actors working together to advance

financial literacy and inclusion for youth across the country, Nigeria Country Director for Mercy Corps, Iveta Ouvry said: “By connecting young women with resources and education to boost their financial literacy, leadership skills and economic opportunities, we can help them see that a bright future is possible. Adolescent girls play a key role in transforming their communities and countries for

good, which is why we’re focused on empowering this key demographic.”

Already, the Central Bank of Nigeria (CBN) and the National Identity Management Commission (NIMC) had acknowledged the impact being made by the global organisation Mercy Corps and MasterCard, highlighting the role of the National eID (NeID) card in empowering

those previously excluded from the formal financial system.

Vice President and Area Business Head, West Africa, MasterCard, Omokehinde Adebanjo said: “We realise that to truly empower impoverished communities here in Nigeria and around the world we need to empower women through financial inclusion,” “Lack of identity is a critical barrier for women seeking to

vote, own property or open a bank account. Together, we are making a real difference in these women’s lives and encourage an entrepreneurial spirit through the training.”

He said MasterCard hopes to create long lasting solutions to reduce poverty in Nigeria, adding that “In support of the Cashless Nigeria policy, we have seen great progress, however, challenges still exist.

Samsung Graduates 67 Service Engineers, Honours Best Students Emma Okonji Samsung Electronics, through its Engineering Academy, has graduated 67 students in Basic, Intermediate and Advanced Technical Training from three Technical Schools in Lagos State.

The programme, which lasted for 21 months was organised in partnership with Lagos State Eko Project, designed to assist students in technical schools across the state to become qualified technicians in their chosen technical fields.

The 67 students, who graduated from the academy, were honoured last week, and the best students in various fields, were recognised. The Managing Director, Samsung Electronics West Africa, Mr. ChangWook Lee, said at the graduating ceremony that one of major goals of the company was to positively impact the lives of the youth. “Today, your perseverance doesn’t go unnoticed.

Today is a milestone for you as you carve your next steps. As a company, we don’t just think of ourselves as a technology company. One of our main goals is to positively impact

the lives of those at the core of our society- the youth.”

“Core to Samsung’s vision is to fast track the entry of Nigerian youth into the electronics job market. This aligns with the government’s vision which encourages entrepreneurship and youth employment initiatives.

The Engineering Academy will continue to play a critical role in developing the technical skills needed to support Samsung’s innovation, which features flagship products designed for optimal use in Africa,” Lee said.

He encourage the graduating students to think about the future and develop big ideas that will make them better citizens that will contribute to the development of the country. According to him, “Today is the first time we will be graduating students admitted into the Academy from three Government Technical Schools in Lagos, situated in Ikorodu, Ikotun and Agidingbi, the host school. It gives me great pleasure to see you graduate from Samsung Engineering Academy as Technicians in your chosen field but the joy will be immeasurable when I see you start a business of your own.

Made-in-Nigeria Conference Announces Partnership with Min.ng Nume Ekeghe As Nigerians across the nation gear up for this year’s edition of the Made-in-Nigeria Conference & Exhibition, organisers of the event have officially entered into partnership with one of Nigeria’s leading e-commerce platforms, Min.ng.

Speaking at a media briefing recently in Abuja to herald this year’s conference, the Executive Director of the project, Adedeji Alebiosu said: ‘’Made In Nigeria is the new economic frontier and we’re looking to galvanise a new set of indigenous and local content enthusiasts who through their enterprise will promote and celebrate the existing innovative solutions that have been deployed in Nigeria through entrepreneurial innovations. We are proud to announce our partnership with Min.ng as this formed partnership would be greatly beneficial to attendees

at the upcoming Conference.’’

Also commenting on the partnership, the founder Min. ng Mr. Kelechi Ogbonnaya said he is proud to partner an organisation that is passionate about Nigeria. Ogbonnaya said: ‘’We are indeed excited to partner a group that shares our passion towards promoting Made In Nigeria products. This Conference & Exhibition is poised to showcase the incredible potential of Nigerians. It would also ignite a series of discussions on how we can begin to reap the benefits through exports, job creation and sustainable economic development at large.

The Made-in-Nigeria Conference is an initiative under the Made-in-Nigeria Project that seeks to address and proffer lasting solutions to national challenges and also make recommendations for sustainable socio-economic growth and advancement.”

AWARD WELL-DESERVED

L-R: Media & Market Research Manager, Grand Oak Limited, Ms. Linda Temienor; formal Managing Director, Guinness Nigeria Plc, Mr. Seni Adetu; General Manager, Grand Oak Limited, Mr. Brajesh Kumar, and Category Manager, Mr. Olayinka Amuwo, during the presentation of Schnapp’s Leadership Brand of the Decade Award to Grand Oak Limited at the Marketing Edge Brands and Advertising Excellence Awards held in Lagos… recently

Elumelu Urges Students to Embrace Entrepreneurship Students should start early to have an entrepreneurial mind-set; that way, they open up other options for gainful employment when they are ready to join the job market, the Chairman, Heirs Holdings and Founder of the Tony Elumelu Foundation (TEF), Mr. Tony Elumelu has said.

In a speech, which he gave to students at the Loyola Jesuit Memorial College, Port Harcourt, he told the students that the world has changed in a way that students should also respond by changing their expectations after leaving school from seeking jobs to creating jobs.

The Jesuit Memorial College (JCM), Port Harcourt was set up to honour the memory of the 60 students of the Loyola Jesuit School in Abuja that lost their lives in a plane crash in Port Harcourt on December 10, 2005. The school serves as a beacon of hope, where children are given the opportunity to get a sound education and have a chance to contribute to building a brighter future for this country.

Elumelu also commended the Catholic educational system, saying it not only emphasises academic excellence but also builds in students a sense of responsibility to humanity.

In a statement, he said: “I was once a student, and in my time, things out there were even rougher than they are now. But the education and training I received in my youth helped me a long way. In the same way, I urge you not to take your quality education for granted.

You won’t always see immediate gratification, but you should rest assured that success will eventually come as long as the following are in place - (purpose, hard work, discipline, check-ins to periodically check yourself; resilience and humility.)

“Your education, training and discipline will help you in the long-run just as it helped me in my own life,” Elumelu said.

He explained that it was his belief that the younger generation can address Africa’s development challenges and catapult the continent into being a strong player in the international community that led him to commit $100 million to identify, train and fund 10,000 African businesses, over the next 10 years.

Responding to a question by one of the students on how to balance being financially successful with family life, Elumelu maintained that it is impossible to create sustainable wealth without balance and stability in the home.

Sterling Bank Introduces Flexible Work Conditions for Staff Sterling Bank Plc said it has come up with a policy to promote work-life balance among its staff as it continues to strive to build a great place to work for its workforce through the introduction of Flexi-time and Flexi-place.

The initiative, which according to a statement from the bank, complies with global best HR practices, is currently being piloted at the bank’s corporate head office and is aimed at introducing flexibility in work arrangements for its staffs.

The Flexi-time arrangement allows members of staff the opportunity to determine their own working hours by choosing a convenient time to come to work within the options provided by the bank. Similarly, the Flexi-place package gives staff the opportunity to choose a convenient location from which they can carry out their job functions. In this pilot phase, interested staff, particularly in the head office are encouraged to select locations closer to their place of residence.

The Bank’s Executive Director, Strategy & Finance, Mr. Abubakar Suleiman who described the pilot stage as highly successful, expressed optimism that the initiative would enhance productivity of staff, promote bonding among family members, reduce the stress of waking very early and spend

long hours in traffic to get to the office early, improve the well-being of staff and ultimately promote work life balance among staff.

“Employees in the cites are faced with the onerous yet elusive goal of maintaining work-life balance as they are confronted with the challenge of waking up very early to beat the traffic going to the office and also pass through same stress going home in the evening,” he added.

“We recognise that the fastpaced nature of cities is likely to continue to deprive workers from spending quality time with their families as they spend a lot of time commuting to and from work. With the staggered resumption time offered by these initiatives, staff will be able to determine preferred and more convenient work hours.

“We believe with this initiative, they would be in a better position to spend quality time with their family, commute at more convenient traffic times and spend less on Medical care thus become more productive at work.”

To ensure the effectiveness of the workplace solutions, Abubakar noted that appropriate structures and resources have been put in place adding that each team during the pilot phase had a succession plan with back-ups knowledgeable on other duties and available at crucial periods.

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UBA Unveils New PayAttitude Tag United Bank of Africa (UBA) at the weekend revealed that it has refreshed its PayAttitude tag design with the introduction of a new branded tag.

The new tag, which reflects the brand identity of UBA replaces the former tags being issued.

Customers of the bank can continue to enjoy 100 per cent success on their point of sale

(PoS) terminal transactions with UBA PayAttitude, the effective contactless payment solution.

PayAttitude is a Near Field Communication (NFC) tag, with an internal chip that works on NFC - enabled POS terminals at designated partner locations across Nigeria. The new payment solution makes it possible for a customer to

make payments for goods and services with UBA PayAttitude tag attachable to any flat surface such as mobile phones, tablets and even wallets although it is highly recommended to attach to a phone as your phone is always with you.

UBA PayAttitude complements the contactless cards

PLACCIMA Optimistic about Trade Fair Seriki Adinoyi in Jos Plateau state Chambers of Commerce, Industry, Mines and Agriculture (PLACCIMA) in collaboration with the state government has said that with the return of peace in the state, Jos will host a mega Trade Fair that will showcase the state’s rich potential to the world.

The theme of the proposed trade fair is “Promoting Entrepreneurship through MSMEs for Economic Development.”

Speaking during a courtesy call on the state commissioner for Commerce and Industry, Hon Ezekiel Daju, President of PLACCIMA, Chief Bulus Dareng said the trade fair will cover all aspects of businesses, economic and tourism activities in Nigeria.

He said: “The trade fair

will be hosting hundreds of exhibitors, showcasing local products, technologies, services and opportunities.

“This year’s trade fair intends to showcase Plateau State to the world; the abundant human resources, agricultural potentials and products, minerals resources among other natural resources, to make everyone see the potentials for investment on the Plateau.”

Dareng said Plateau is blessed with abundant natural resources, and can survive on its own if properly harnessed.

Noting that the trade fair will promote entrepreneurship through medium and small scale businesses for economic development, Dareng urged the state government to give PLACCIMA the needed support to make the trade fair a success.

On his part, Daju said: “The Governor Simon Lalong led administration is determined to boost the internally generated revenue of the state, noting that government was ready to partner with PLACCIMA to make the trade fair a success.”

He reiterated that, “Plateau is a gift to Nigeria; we are blessed with fertile land and resources.

So we are going to showcase all we have to the world at the trade fair. “The technology company, to provide cloud-hosted servers for Small and Medium Enterprises (SMEs) in Nigeria.

The service is delivered through the cloud platform of MainOne’s data center company, MDX-i, which is powered by the Intel Cloud Processors and is aimed at bringing the advantages of in-country cloud services to Nigerian businesses.

currently issued by the bank.

Only recently, UBA pioneered contactless cards in the country.

Arguably, the bank has the most advanced and convenient payment technology within the financial space in Nigeria.

Contactless payment offers a “tap n go” option of paying which customers find fast, highly convenient and secure.

“UBA branded PayAttitude tags can be obtained from UBA business offices. They come in two variants; the PayAttitude Debit and PayAttitude Prepaid tags, depending on a customer’s preference. This development again reinforces our commitment to the creation of innovative payment solutions,” Divisional Head, Digital

Banking, UBA, Yinka Adedeji, was quoted to have said in a statement.

A major advantage of the UBA PayAttitude tag is the ability to work even when network connection is poor or does not exist. This means that you will always have successful transactions without fear of network on POS terminals.

Arik Reaffirms Maintenance Partnership with Lufthansa Technik One of Nigeria’s airline, Arik Air has reaffirmed its partnership with Lufthansa Technik, the maintenance, repair and overhaul subsidiary of Lufthansa German Airline.

Officials of the company, which is providing technical/ maintenance support to the Nigerian carrier, met with Arik officials in Lagos at the weekend.

Director, Line Maintenance Network and Technical Operations Management, Lufthansa Technik, Jurgen Hupe, at the end of a recent visit to the airline’s facilities in Lagos, said the firm majorly handles maintenance for Arik Air’s B737NG fleet, adding that they have been in partnership with the carrier.

He noted that it was their wish to continue handling maintenance work of the airline for many years to come.

“We are happy to work for Arik and would like to see Arik thrive and play a more important role in the market in the region as well as in the international market.

We will do our best to be a good partner to help Arik in achieving this.”

Deputy Managing Director and Senior Vice President Operations, Arik Air, Capt.

Ado Sanusi said the airline is committed to its partnership with the company, stressing that they are satisfied with the partnership with Lufthansa this far.

“They are the most experi-

enced MRO in the world and we look out for the best. There was a bid, which Lufthansa Technik won at that time. We are very satisfied with their level of partnership. We are looking forward for a deeper partnership.”

He called for viable Maintenance Repair Overhaul (MRO) in Africa, saying it would bring down the cost of operations.

“There is no viable aviation industry in anywhere in the world where there is no MRO facility. Yes, of course, it is very good to have a maintenance facility in the region. It would definitely bring down the cost.

But again, like I have said, it is nothing like you just turn on the switch and you have an MRO.”

T H I S D AY • WEDNESDAY,JUNE 29, 2016

36

EDUCATION How ‘Naija Discount Card’ will Alleviate Students, Corp Members’ Suffering Students and corps members in Nigeria can now buy goods and pay for various services from about 1,815 firms at a discount of up to 50 per cent. The initiator of Nigerian Students and Youth Corps Discount Card (NS and YC), also known as ‘Naija Discount Card’, Hon. Bimbo Daramola told Funmi Ogundare why he introduced the social safety initiative to mitigate the suffering of students and corps members Nigerian students and youth corps members are today confronted with numerous challenges ranging from their inability to stay focused in school because of their parents’ dwindling income and spiraling inflation, as well as the inability of states and local governments to give out student loans, bursaries and scholarships.

Some parents are either losing their jobs or dealing with the realities of non-payment of salaries/allowances as witnessed in 27 states in the country. The youth corps members also have to grapple with the biting economic situation at their place of primary assignment with a paltry N19,800 monthly allowance that cannot sustain them for a month.

Concerned about the plight of the Nigerian youths, the initiator of the Nigerian Students and Youth Corps Discount Card (NS and YC), Hon. Bimbo Daramola, described it as a palliative and social protection plan to accommodate and take away the pain that they go through. He said the card would enable them access better bargains on what is needed with the little that they have so that they can achieve more.

“This is a social protection plan like no other particularly targeted at the youths.

Why do I say it is like no other? The federal government said it plans to give N5,000 to unemployed people, I tell you that the people who will collect that money will spend it foolishly and that is the end of it. So that money is not totally generative. It also said it wants to give support scheme to 100,000 students. If the federal government gives them N30,000 or N40,000, they will still spend that money on the things that are overpriced and expensive, so before you know it, the money given to them for scholarship will be gone.

“So I said why don’t we do what organised people have done in some other countries?

Why don’t we have a discount card for Nigerian students? The idea is that what you used to buy for N10,000 by the time we interface with corporate partners, we can get some discount and get them to agree as corporate social responsibility (CSR) or drive traffic to them, your margin of profit may reduce but it is more over volume.”

Daramola said every discount card holder can purchase various brands of goods and services from a large number of local and national businesses at a discounted price ranging from five per cent up to 50 per cent and more depending on the service provider and product seller. “When we started out, we wrote to the minister of education and he encouraged us to start and we started. We also got the formal approval of the National Youth Service Corps (NYSC), National Universities Commission (NUC) and committee of vice-chancellors. We invited 67 student union leaders of NANS who came from all over the country to secure their buy-in as stakeholders; we held that meeting in Abuja. On March 21, the product was launched and we have been going to different institutions since then.

“As we speak, we have in excess of 1,000 people. If any student or youth corps member comes here, he gets 20 per cent off whatever he buys there if he presents the discount card. This is a comparative of the card in London, US, Malaysia and Ghana. In Nigeria, it is absolutely the first.

“With this kind of card, they can have access to shops. Today we have 1,815 shops, partner directories. We have the website that you can get all the information. The satisfaction

Daramola

we derive is that a whole lot of people are happier for it. All of our partners also carry the card and once you see it on any shop, there is no reason why a corps member that wants to fly to Abuja to resume work cannot pay N18,000 on the platform. If you go to Silverbird Cinemas, most movies are N1,500, but on this platform, you pay N500.”

Asked why he decided to embark on the initiative, the initiator said, “I discovered that when I was serving in the parliament under the President Goodluck Jonathan administration, I knew that the reality we are faced with today is just a matter of time.

I had started foretelling how things will be in the days to come and when change came, all of these things are just a manifestation.

I knew there will be more job losses and unemployment, I knew there will be inflation and recession that would stare Nigerians in

the face, but in this whole big picture, I am concerned about the people who are more vulnerable, who cannot help themselves.”

He regretted that some students cannot afford to feed well saying, “in reacting to these realities, what do they do? They don’t have breakfast, no lunch but only dinner or they have breakfast, no lunch and dinner; and in some cases they don’t even have anything to eat. That is the succession generation I am talking about.

“How do you intend to keep youths of those ages calm and composed in class when they can’t even afford to eat well? They can’t buy modest clothing, and can’t recharge their phones because it is expensive to make calls. They have to fit all their expenditures into all the marginal disposable income that their parents have given to them.

“For youth corps members, after graduat-

ing from school, their parents are thanking God that they have graduated, but how far can they go with N19,800? They will travel a long distance to their places of primary assignment and spend money out of their allowance, where they don’t have relatives.”

On plans to expand the partnership so that more students can benefit, Daramola said: “When we did the launch, the partners were just 500 plus. That was in March, but today you will see 1,815, so it is a continuous exercise. We have relationship managers in all the 36 states of the federation. It is not just about promoting consumerism but it has academic village content.”

He said youth corps members can always register for it from their orientation camp or community development areas, adding that students can go to the dean, students’ affairs of their respective institutions.

37

T H I S D AY • WEDNESDAY,JUNE 29, 2016

EDUCATION

Sokoto Okays N1bn to Establish First Secondary School in Gudu LGA Mohammed Aminu in Sokoto The Sokoto State Government has approved the establishment of a model boarding secondary school in Balle town, Gudu Local Government Area of the state due to lack of secondary school in the council.

Speaking at the end of the State Executive Council meeting at the Government House, the

Commissioner for Information, Abdulkadir Jeli Abubakar, said N1 billion has been earmarked for the project, adding that already 30 per cent mobilisation fee has been approved for the contractor to begin work.

He noted that Gudu is the only local government area in the country without a secondary school, hence the move by Governor Aminu Tambuwal to establish one in the area. He

pointed out that the council has suffered the misfortune of having some of the worst statistics in education in the world.

Abubakar stated that apart from not having a senior secondary school to cater for its estimated 120,000 residents, a 2013 survey showed that out of 1,890 students in junior secondary schools in the council, only one of them is a female.

“Government is determined to establish a new secondary school in Balle, an initiative which is considered laudable by all stakeholders in view of the poor state of education in Gudu Local Government Council.

“The fact is that despite concerted efforts by successive governments, the level of educational development in Gudu has consistently remained the lowest in the state.

“So the establishment of boarding school in the area will invariably improve enrolment, retention and transition of pupils from primary to secondary schools in the council and its neighbours, such as Tangaza and Illela,” he said.

The commissioner stated that the project is expected to be completed in six months, adding that N241 million has been approved by the

council for the renovation of Government Secondary School, Tureta, while the renovation of GGSS, Illela would cost approximately N167 million.

He said the council also approved over N304 million for the renovation of Gamji Girls College, Rabah and the rehabilitation of Sabon Birni Bridge at the cost of over N194 million.

NBC’s Technical Training Centre Graduates 32 Engineers, Technicians Uchechukwu Nnaike In line with its objectives of investing in people and transforming its business with sustainable models that are comparable to best in class, the Nigerian Bottling Company’s Technical Training Centre recently graduated 14 graduate engineers and 18 technicians, who successfully completed 15 and 18 months of intensive training respectively.

The centre, which was established in 1996 to consistently provide a pool of resourceful and competent engineers and technicians who are in tune with the demanding technology and operating environment in the beverage industry, has so far graduated 732 technical operatives; technicians and graduate engineers.

It is also on record that all the 732 graduates were offered employment within and outside the organization; the centre has also trained over 5,400 that have completed various short and long-term technical programmes; while about 85 per cent of those offered employment are still working at various levels within the organisation.

Speaking at the 25th graduation ceremony in Lagos, the Managing Director, NBC, Mr. Ben Langat, said the technical training centre is fundamental to the company’s current business improvement initiatives and a step-change in its processes with an underlying emphasis on efficiency, preserving its quality commitment and mitigating cost drivers in core operational areas.

He expressed delight that the centre is graduating for the first time, students who are already graduates of higher institutions with BSc, HND and master’s degrees. This he said was as a result of the curriculum upgrade at the centre in 2014 to meet the complexity of emerging technology; the minimum requirement for entry was also upgraded to Higher National Diploma (HND).

He likened the centre to a university because of the impact its graduates have made in the company’s business, adding that the company has had performances that are equal or even above those in Europe.

“Engineers who are able to consistently create value through top performance are recognised and rewarded with accelerated career growth and opportunities for international assignments in the Coca-Cola Hellenic Group.”

He congratulated the graduands for the milestone in their careers as they are now on a trajectory that would inspire them to apply their resourcefulness in a manner that aligns with the company’s business objectives and general economic growth.

“I charge all graduands today to remain focused despite the current challenging operating environment and make excellence your watch word, constantly improving yourselves.”

The Head of the Technical Training Unit, Mr. Tope Dada, said the programmes are designed with the requirement for total quality engineering performance in mind. The demand in the beverage bottling industry informs our choices of programme content, teaching method and research agenda.”

Dada also led the managing director and other guests on a tour of the facilities at the centre, where the trainees explained the functions of the machines and how they have improved the output of the equipment to added value to the organisation.

In his remarks, the Minister of Labour and Employment, Dr. Chris Ngige, who commended the company for its commitment to manpower development, stressed the importance of investing in technical and vocational education.

Ngige, who was represented by Dr. Ifeoma Igweze, also pledged to facilitate industrial peace and harmony in the country, just as he urged the graduands to strive to excel in their chosen careers.

Prizes were awarded to outstanding graduands, Mr. Adikwu Umoru emerged the best graduating trainee engineer, while Mr. Christian Ipuole was the best graduating trainee technician. The prize for the best technician trainee graduate (female) went to Mobola Nubi.

REWARDING HARDWORK

The Executive Secretary of Lagos StateTechnical andVocational Educational Board (LASTVEB) , Mr. Olawumi Gasper giving an award to the Principal of Government Technical College (GTC) Agidingbi, Mrs. Belinda Odeh, at the 2015 staff merit award ceremony, organised by the board... recently

UK Inspectors Rate Lagos Preparatory School High The Lagos Preparatory School, Ikoyi has earned the top two classifications awarded by the Independent Schools’ Inspectorate (ISI), the most prestigious and rigorous UK team for inspecting British schools overseas, during the team’s recent visit to the school.

The school expressed its commitment to maintaining as high a standard as can be expected from any independent school in the UK, which is why it requests inspections by ISI, the same UK body charged with assessing the quality of education in leading UK independent preparatory and secondary schools.

The Headmaster, John Samuel said: “We are delighted to have achieved 100 per cent ‘excellent’ and ‘good’ ratings in every aspect of school life, the top two classifications awarded

by ISI.” According to him, the report stated that: “Pupil achievement successfully meets the school’s aims to achieve high academic standards. Pupils make good progress in their learning because of good teaching, their extremely positive attitudes to learning and a broad curriculum that effectively meets their needs and captures their imagination.”

He said the outstanding progress of pupils could be seen in even the youngest children in the school. “Children in EYFS make excellent progress in their learning and development and

by the end of the reception year, the majority demonstrate skills exceeding the expected levels in all areas of learning.”

The report said “pupils’ display excellent attitudes to their work and behaviour is exemplary, the personal development of pupils throughout the school is excellent. Pupils are confident and articulate. The quality of pupils’ spiritual, moral, social and cultural development is excellent throughout the school.

The extra-curricular programme is excellent.”

It added that: “Expectations are high for all children and there is great emphasis on academic achievement. Notable improvements to the quality of academic achievements, of teaching and of leadership and management since the previous inspection are symptomatic of excellent governance.”

Reacting to the report, a member of the LPS Governing Board, Mrs. Habiba Balogun, said “congratulations to all involved in the school students, staff, parents and governors. The school has made outstanding progress in all areas: pupil achievements, quality of teaching, leadership and management and the quality of pupils’ personal development.

This is a well-deserved result and has been achieved by the hard work and dedication of our whole school community.

I look forward to many more years of success for Lagos Preparatory School.”

LASU Rewards Outstanding Students Peace Obi The management of Lagos State University (LASU) as part of its commitment to encouraging excellent academic performance through hard work among its students has doled out N4 million in reward to 160 students who made a Cumulative Grade Point Average (CGPA) of 4.5 and above in the 2014/2015 academic session.

The students who were selected from the various departments were presented with a cheque of N25,000 each in recognition of their outstanding performance during the session.

Topping the list was the department of medicine that recorded five students that scored between 4.90 and 4.95.

The initiative, which is part of the management’s effort at promoting hard work and a healthy competition among students, is expected to spur non-beneficiaries to strive for improved performance.

Congratulating the recipients, the Vice-Chancellor, Prof. Olanrewaju Fagbohun, urged them not to relent on their effort but to strive for greater academic laurels.

The VC who commended them for distinguishing themselves through their academic performances, said the institution is proud of them and advised them to always be good ambassadors of the institution wherever they go.

The acting Dean, Students’ Affairs, Dr. Olufemi Obayori, congratulated the students, saying, “you are here today because you have been tested and have been found worthy.

You have been fired in the flame of academic furnace and have survived.”

Obayori, who commended the recipients for making the institution’s list of academic champions despite all odds, told them not to consider themselves winners yet. “You indeed have gone through battle and come out victorious, but you are not winners yet. You need to fight harder to retain your laurels.”

He urged other students to see the day’s event as a motiving force that would stimulate them into being more committed to their studies, adding that it is not too late for aspiring champions to join the league.

Sharing her success story, Miss Omoworare Oluwatobi, a medical student who made 4.95, told THISDAY that she was convinced that being a medical doctor was her calling and that she has to put everything into her studies to realise her dreams of becoming one of the best students.

Oluwatobi, the daughter of a nurse, who said she was motivated to study medicine by her passion to save life, added that she knew she would not work well in any other field.

She said her aim is to become the best graduating student.

38

T H I S D AY • WEDNESDAY,JUNE 29, 2016

EDUCATION

Great Hand-Washing Tips?

FOR SMARTER STUDENTS

L-R: Representative of the Educational Secretary, Alimosho Local Government Area, Mrs. Modupe Arotimi; Assistant Pastor-in-charge of RCCG Lagos Province 37, Olajide Oluwayemi; Pastor-in-charge of Dominion Area, Seun Osineye; and the Special Adviser to the Sole Administrator, Ayobo-Ipaja LCDA on Media, Chief Jide Osokoya, at the presentation of free uniforms to pupils of St. Andrews Primary School, Ipaja-Ayobo by the church… recently

Foundation Invests N70m to Transform Lagos School Uchechukwu Nnaike

From a worn-out, decrepit school building with unsafe classrooms, broken furniture, windows and doors, Yaba Model Nursery and Primary School, Lagos is now wearing a new look with improved facilities, following the massive intervention of the Bunmi Adedayo Foundation (BAF).

The foundation was launched in January, in memory of the late Executive Director of De-Tastee Fried Chicken, Mr. Olubunmi Adedayo, whose passion for under-privileged children was demonstrated though various programmes.

The BAF was conceived to bridge the standard gap between private schools and public schools and more importantly, to extend Bunmi’s dreams of improving the lives of children from disadvantaged backgrounds. It intervenes in schools through advocacy, enhancement of content and learning environment, improvement of teaching methodology, instilling a sense of civic responsibility in the children, and encouraging them to achieve their potential.

The project, which cost the foundation N70 million, involves renovating and remodelling

the school to a bench-marked standard; provision of social amenities as part of the learning environment; provision of library, ICT laboratory, other learning aids, as well as new school uniforms, which the pupils will start wearing at the beginning of next academic session.

The foundation said its next project will be to transform the sister school, Nathan Nursery and Primary School, which is currently represented by dilapidated structure consisting of five classrooms and an office space which only accommodate nurseries one and two and primaries one to three, while primaries four to six occupy borrowed space from Yaba Model Nursery and Primary School.

On the journey so far, the Chairman, Board of Directors, Mr. Babatunde Akinleye, said the foundation decided to focus on the school in Yaba when it could not find a school in dire need of repairs in FESTAC where Bunmi grew up. He though the school has been renovated, the computer laboratory still needs to be equipped with computers, while the library needs to be stocked with books. He said the foundation also plans to train teachers that would impart

quality education in the pupils.

He called on stakeholders to support the foundation in its quest to make a lasting impact in the lives of under-privileged and go back to the era when there was no difference between public schools and private schools.

Addressing the guests, the Deputy Governor of the state, Mrs. Oluranti Adebule, while commending the family for adopting such a project, she acknowledge that the state government still has a lot to do in the area of education.

She promised that there would soon be a remarkable difference in schools, as the government is set to embark on renovation exercise during the summer holiday.

While stressing that primary education is still the responsibility of the federal government, she said the Lagos State government provides counterpart funding every year for the renovation of primary schools.

She thanked those supporting education in the state, adding that the government is passionate about providing qualitative education.

RCCG Lagos Province 37 Donates Uniforms to Pupils It was excitement all the way for pupils of St. Andrews Primary School, Ipaja-Ayobo, Lagos, when the Redeemed Christian Church of God (RCCG), Lagos province 37 recently distributed free school uniforms to them.

The assistant Pastor-in-charge of RCCG Lagos Province 37, Olajide Oluwayemi, who presented the uniforms to the school authority on behalf of the province, said the uniforms were provided under the corporate social responsibility programme of the church, which is the vision of the General Overseer, Pastor Enoch Adeboye.

Quoting the book of Mathew chapter six, verse 11, Oluway-

emi admonished the guests to always endeavour to meet the needs of the needy around them the same way they look onto God to meet their daily needs.

He emphasised that it is the responsibility of everyone to contribute to the development of the society in every way possible, adding that by providing more than 650 pairs of uniforms for the pupils, the church is giving back to the society, particularly to the development of education in the state.

Oluwayemi urged the pupils and their parents to complement the church’s gesture by keeping the uniforms clean and presentable at all times.

Also speaking, the Pastor-

in-charge of RCCG Dominion Area, LP 37, Seun Osineye, said the church decided to provide the uniforms for the pupils having observed that most of them usually come to school in tattered uniforms.

She explained that with the number of the school uniforms provided for the pupils, the issue of wearing tattered uniforms to school would be a thing of the past in the school.

Osineye also appealed to parents to pay more attention to the educational development of their children since they are the future of the nation.

The assistant Headmistress, Mrs. Temilola Oladimeji, thanked the church for providing the uniforms, saying that

the gesture would bring smiles to the faces of parents who had confided in the school authority that they could not afford new uniforms for their wards due to financial challenges.

She said the 650 pairs of uniforms donated to the school would go a long way at providing new uniforms for those with worn-out uniforms among the 700 pupils in the school.

Mrs. Modupe Arotimi, who represented the Education Secretary, Alimosho Local Government Area, Alhajah Airat Alamu, said the donation would encourage more parents to enroll their children in the school since they would not need to buy uniforms for them.

Institutes to Develop Blueprint to Promote Peace, Spirit of Fair Contest Alex Enumah in Abuja The Institute for Peace and Conflict Resolution (IPCR) and the National Institute for Legislative Studies (NILS) have agreed to develop a blueprint towards promoting peace and the spirit of fair contest in the affairs of the country.

To this end, the institutes have nominated officials for a joint committee that would begin work on the blueprint without delay.

In a statement signed by the Media Assistant to the DG, IPCR, Abu Michael, the agreement was reached between the institutes during a courtesy visit

by the Director General of IPCR, Professor Oshita O. Oshita to the NILS Director General, Dr. Ladi Hamalai in Abuja. Oshita in a remark stressed the need for federal government agencies to build synergy to ensure good governance, pointing out the importance of mainstreaming peace and conflict-sensitivity

in the policy and law making processes.

He said the institute is already working towards the launch of the Infrastructure for Peace (“I for P”), a United Nations model which according to him would make Nigeria acquire viable structures to diminish incidences of violent conflict.

Good old traditional hand-washing of clothes is a great exercise. It is one way you could keep active around the house. A sedentary lifestyle endangers an individual’s health and wellbeing. Carrying out chores around the house with daily schedules of aerobic exercises like walking and cycling, work your joints and muscles, encourage blood circulation and add more years to your life. A little attention to the care of your clothes ensures that your confidence is secured at any event, particularly at impromptu occasions.

Your soiled and dirty laundry should be kept away from your clean clothes. Separate clothes that are heavily soiled from lightly soiled items. Your laundry basins shouldn’t also be used for food preparation. Decide the laundry soap that’s ideal for the clothes you’re about to wash. Be sure to check your soap packaging and use the recommended amount of detergent for fabric type and quantity.

Be mindful of the fact that some soaps work better with hard water than soft water. Do you know what water runs through your tap or comes from your well or bore-hole?

Sort your laundry into like-colours. It is better to turn black clothes inside out before washing them. Wash dark and black colours with cool water.

Dissolve your washing powder completely before adding the items to be washed. Work the soap-sud gently through your clothes. Use enough water that enables your clothes to circulate freely through the soapy water. Pay some attention to the armpit, neckline, cuffs and hemline areas. Gently loosen dirt, if any, off these areas.

Dislodge stubborn stains with laundry stain removers – a wide variety of these are available in shops nation-wide. Avoid scrubbing, intensely agitating or wringing your clothes harshly. Squeeze soap out of your washing and rinse them thoroughly with cold or luke-warm water. Adding a fabric softener to your last rinse is a very good idea.

Fabric softeners come in various fragrances. Adding some to your laundry gives your clothes a lovely fragrance, makes them soft to feel and reduces static clings.

It may be better not to dry some clothes in full sunlight to reduce their chance of fading quickly.

Turn your clothes inside out when you hang them up. This shields the right side from stains as well as from fading. Lovingly, tenderly get your dry clothes off the line before the evening dew settles on them. Fold them into a clean laundry basket ready for ironing.

Omoru writes from the UK

Lagos SUBEB Chairman Decries Illegal Use of Primary Schools The Chairman, Lagos State Universal Basic Education Board (LSUBEB), Dr. Ganiyu Sopeyin, has decried the illegal and unauthorised use of public schools’ setbacks by traders and artisans, describing the action as an environmental nuisance and a breach of public order.

Sopeyin during an inspection tour with other board members and management staff of some primary schools in the state, warned the illegal occupiers that it is not going to be business as usual, adding that the state government through the board is determined to make public primary schools more conducive for qualitative and quantitative education.

He wondered why traders and artisans should constitute themselves into environmental nuisance

without due consideration of the grave consequences of their action while leaving the private schools to flourish at the detriment of government owned schools.

He directed those who carry out illegal activities along government schools’ setbacks to vacate such locations within seven days, otherwise the Board may be forced to invite the state environmental task force team to evict them.

Sopeyin also called on the management of public primary schools to avoid wastages and stressed that the inspection exercise would be continuous.

The schools visited include Gbagada Primary School, Gbagada, Ajidagan PrimarySchool, Gbagada and Layi Oyekanmi Primary School, Mushin.

39

T H I S D AY • WEDNESDAY,JUNE 29, 2016

EDUCATION

New FUTO VC Pledges to Adopt Open Door Policy Amby Uneze in Owerri The newly inaugurated Vice-Chancellor of the Federal University of Technology, Owerri (FUTO), Professor Francis Chukwuemeka Eze, has vowed to take the institution to greater academic height through the mantra he christened “driving the culture of excellence”, even as transparency, efficiency, excellence and hard work also form part of

the core value.

The Professor of Physics and former deputy vice-chancellor of the institution stated this in an inaugural press briefing during which he pledged to secure sustainable accreditations for departments with interim accreditation, as well as repositioning the institution by increasing the internally generated revenue.

As the seventh substantive vice-chancellor of the uni-

versity with over 31 years of university teaching, research and administrative experience, Eze said while his administration would strengthen and promote new programmes to realise his mandate, students’ support programme would be established in each school, while the School of Basic Medical Science and all academic programmes of the university would receive greater impetus.

He added that the Centre for Industrial Studies would be reorganised and strengthened just as the ICT skills acquisition centre and research farms would be resuscitated.

“My administration will also ensure that staff and human resources development receive attention and sponsorship to programmes will be tied to areas of need. I will continue to invest in staff and lend sup-

port to professional and career development.”

The vice-chancellor promised that all ongoing projects initiated by his predecessor would be completed within the available resources and that private and international donor agencies would be invited to fast-track the growth of the 36-year-old university of technology.

While pledging to grant autonomy to different organs

to smoothen his administration, Eze also promised to tackle the security challenges confronting the university, just as he promised to adopt an open door policy to carry everyone along.

He also promised to maintain transparency and efficiency, adding, “no matter the gender or where you come from will reign supreme because what we want in FUTO is performance and excellence.”

NOUN Launches Instructional Tablet to Address Shortage of Study Materials Rebecca Ejifoma The National Open University of Nigeria (NOUN) has introduced an electronic instructional tablet, i-NOUN, to solve the prevalent challenge of shortage of study materials in the institution.

The Vice-Chancellor, Prof.

Abdalla Uba Adamu, who disclosed this recently during his courtesy visit to the chancellor of the university, HRH Lawrence Chikezie Agubuzu at his palace in Enugu State, said the introduction of the device, which is at advanced stage, would also cut down fees payable at the institution, as well as enhance the updating of the study materials.

“The i-NOUN tablet will be made available to all students.

It will have all study materials needed by students of the university uploaded in it and would be updated regularly to foreclose the possibility of those study materials getting obsolete.”

He commended his predecessor, Prof. Vincent Ado Tenebe for taking NOUN from an evolutionary university to a revolutionary one. “I will work to sustain what Tenebe did.”

He affirmed that having granted tuition-free tertiary

education to all inmates of prisons in the country, his next move would be to launch what ‘Diasporic NOUN’ saying, “the initiative has already attracted interest in Ghana, Benin Republic and Liberia and it is conceived to generate access to tertiary education for Nigerians in other countries, especially African countries, who by their business callings and social circumstances may have been precluded from opportunities for conventional academic pursuit.”

Adamu said plans were underway to set up study centres in those countries to cater for the education need of Nigerians living there.

He revealed the intent of his administration to build a world-class broadcast studio with hi-tech equipment where the instructional broadcast of the university would be done.

In his response, Agubuzu who is also the chairman, Enugu State Council of Traditional Rulers, pledged to support Adamu while calling on Nigerians to support the Buhari administration, to move the country forward.

“President Buhari is a quintessential patriot who must be supported by all Nigerians to build this country.”

Kogi Promises Corps Members Adequate Security Yekini Jimoh in Lokoja The Kogi State Government has assured the 1,614 corps members posted to the state of adequate security. Governor Yahaya Bello made the promised when he visited the orientation camp of the National Youth Service Corps (NYSC) Batch ‘A’ Stream II at Asanya-Kabba.

The governor, who congratulated the corps members on their enlistment into the scheme, urged them to strictly adhere to the rules of engagement during the course of the orientation exercise in the camp.

Bello, who was represented by the Commissioner for Youth and Sports, Arome Adoji, said the government is poised towards creating a fertile environment necessary for a peaceful stay for them in the state.

He said all corps members posted to the state would be provided adequate society, adding that the government is doing its best to end kidnapping in the state.

The state NYSC Coordinator, Mrs. Olabanji Bolanle, announced that there are series of programmes designed to teach the corps members necessary skills to be self-reliant in the society.

“It is pertinent to inform you that corps members will be exposed to new approaches to business opportunities; modules and ideas through skills acquisition and entrepreneurship development training that will span through five consecutive days on camp.

“The five-day training will focus largely on creating the entrepreneurial and self-reliant spirit, helping corps members explore various income generation opportunities available

CONGRATULATIONS

A cross-session of the Samsung class of 2015 graduands. at the gradution ceremony in Lagos on Thursday

Samsung Unveils Interactive Whiteboard to Boost Teaching, Learning Funmi Ogundare Samsung Electronics recently launched its new interactive whiteboard solution, an integrated all-in-one digital platform designed to help schools, government and corporate organisations enhance learning and productivity.

Speaking at the presentation ceremony in Lagos, the Technical Manager, Mr. Barnabas Olaleye, said the platform can be used as a communication billboard in the classroom or meeting room, adding that the solution delivers convenience and compatibility through an upgraded design and enhanced functionality.

“The teachers or lecturers need to prepare their lesson note and use the board to teach the students,” he said, adding that they can also generate content and access different types of applications.

“For instance, if you are in a training school, you can install and open an application, as well as access internet. There are a lot of resources online that the teachers/students can access while in class, the lecturer does not need to come with his laptop.”

Olaleye added that the platform allows a third party integration and free video conferencing such as Skype. “The interactive whiteboard features an integrated touch screen, which helps simplify content delivery. It is also equipped with the Samsung smart signage, pen tray, and touch overlay; a feature that allows for better interaction between the user and the board. The touch overlay and the smart signage are embedded as one, making the eBoards less bulky and more convenient to use.

“Users can also transfer con-

tent directly from their mobile, tablet or PC to the eBoard effortlessly and seamlessly with inbuilt screen mirroring.

The large 82” screen also helps users maximise readability in meeting rooms or classrooms.”

The Director B2B, Africa, Mr. Andre De Meyers, said the strength of the brand lies in three fundamental areas; innovations, interactive human experience and having people to enjoy the product.

“We have 34 research and development centres all over the world; we have people who have doctoral degrees in psychology, engineering, among others. Where do we innovate? Software and software platforms are being designed through which we can interact and exchange information. This is what Samsung keeps focusing on to retain our market.”

A lecturer at the Redeemers

University, Osun State, Dr. Adewale Ogunde, expressed delight about a similar board that was deployed by his institution three years ago to enhance teaching and learning, saying, “it has changed teaching and learning and made it more exciting. We have never regretted investing in it; it has made life easy for the lecturers and students, it is the way to go.”

The Managing Director, Samsung Electronics West Africa, Mr. Changwook Lee, said the whiteboards with unique display solution is effective in such areas as decision making, business processing, costs and risk reduction, boosting business performance of workforce, adding that for schools, it would help enhance the teaching environment.

“These key advantages deliver a more collaborative employee environment and also a more elevated learning environment.”

Lagos Launches Literacy Programme in Ikosi-Ejirin LCDA Peace Obi The Lagos State Government recently launched the state’s annual literacy sensitisation programme, tagged ‘Eko nke ko’ in Ikosi-Ejirin Local Council Development Area (LCDA), as part of its commitment to raise the literacy rate in the state.

Speaking at the ceremony, the Special Adviser to the Governor on Education, Mr. Obafela Bank-Olemoh, reiterated the state’s commitment to raising

the literacy of the state from the current 89 to 95 per cent, while calling on the residents of the Ikosi-Ejirin LCDA to embrace the programme of the state’s agency for mass education.

He assured the public that positive changes would be witnessed in the state’s education system and that innovative interventions would be implemented.

“We are scaling up our literacy programme with a new tag, ‘Eko nke ko’. We will also increase access to knowledge for all

Lagosians regardless of academic, social or economic background through our library projects.”

The Director of the Agency for Mass Literacy, Mrs. Fola Amore, admonished the market men and women in the community to maximise the opportunity of a second chance at functional education.

The new sole Administrator of the Council, Mr. Babatunde Adetunji, promised to uplift the educational system of the LCDA and also ensure that the literacy

programme is improved in the council area.

The Alayandelu of Odo Ayandelu Kingdom, HRM Aderibigbe Asunma thanked the state government for flagging-off this year’s literacy sensitization campaign in Ikosi- Ejirin.

Mr. Obafela Bank-Olemoh and HRM Oba Aderibigbe registered some new learners enrolling for the basic literacy programme while successful graduates were giving their certificates.

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

Exploring TEEKY’s Wonderland Visiting TEEKY's Wonderland, a popular event centre in Lagos, was an eye opener to the giant strides the centre has made in ten years, report Godbless Eduviere and Peter Uzoho who covered its 10th anniversary recently

Kids palying tumbling blocks game at TEEKY event centre, Lagos

T

EEKY arena and event place, tucked inside Kunsela Road, beside Conoil, Chisco Bus Stop Lekki, Lagos, recently marked its 10th anniversary in a unique way. There were assorted games and activities for visitors who graced the occasion.. And there was never a dull moment.

TEEKY is an acronym for Teach, Entertain, Empower, Kids to Yield.

New brands were added to the organisation to ensure it meets its set out goals.

The new brands include: TEEKY Mascot, TEEKY Children’s Magazines, TEEKYRazzi Magazine, TEEKY Fan Club, TEEKY Arena and Event Place, TEEKY Hobby Craft and Party Supplies Shop as well as TEEKY Arena.

TEEKY arena and event place is ‘Heaven on Earth’, a paradise with beautiful, conducive and safe environment with creative and educating games for kids to have fun.

Obviously, Kids were so excited that they engaged themselves in creative games that can educate and build them in diverse ways.

Jane kalu, who brought her Madam’s daughter to the arena for fun told THISDAY that TEEKY arena, is an interesting place to relax. She said the kids had fun as there were a lot of things to keep them busy. “The arena is okay and it’s good for relaxation.

I actually brought my madam’s daughter here for fun. We have been coming here for fun on several occasions,” she said. Kalu who is a nanny said that people should come and take a look at what’s going on at the TEEKY event centre.

Kosisochkwu Okoye, a nine-year-old and student of Green Springs School expressed his excitement saying, “ It’s very exciting to be here and I am having lots of fun. I am making new friends; I mean friends that are nice and open up to anyone,” Okoye said.

Henry Tony, a 10-year-old and also a primary six pupil of Chitobs Academy said, “The place is wonderful and beautiful. I’m

having fun and I love it because it’s well composed. I love the Tumbling blocks game and everything I see here and I’m saying to children out there that this place has a lot of fun.”

For Joseph Oluku an eight years old and a grade 3 pupil of Trikoa School, who said he has never been to TEEKY even centre before said he likes the fun activities. “I am having fun. I love the Snooker-Board game and I’m saying to kids to tell their parents to take them here so that they can have fun.”

Emmanuel Paul, a 10-year-old and basic pupil of Chitobs Academy said it was her first time. “This is so interesting. I am having lots of fun and I wish to be here again,”she said.

Mr. Gabriel Chikwundu and his friend, Miss. Rose Ukeh told THISDAY that they had fun. Chikwundu said he feels so excited.

“If actually they have existed since 10 years, I think they have done so much and I also think by next 10 years they would have achieved more than this.”

It’s fun to be here. The environment is okay for kids. It’s a place to be and a place where kids need to come at least to experience so much which I know will help them. Everything is not just about school alone.

This is a place where kids can meet good people and learn to be creative

Kids playing scrabble game

For Rose, “It’s fun to be here. The environment is okay for kids. It’s a place to be and a place where kids need to come at least to experience so much which I know will help them. Everything is not just about school alone. This is a place where kids can meet good people and learn to be creative,” she said.

TEEKY’s 10th anniversary event was sponsored by Morning Side Suites. The company’s Sales and Managing Executive Officer, Mr. Peter Nkawu, said “We are happy because it’s a good thing for us to sponsor things that encourage kids and family stuffs and Morning Side Suites try as much as possible to be a dominant force in the hospitality industry and we are trying to get that dominance in the whole of Africa because that is part of our mission statement. We try also to be part of anything that will make the kids to grow and to also get encouraged as well educate them.

“The Nigeria hospitality industry as of now has come a long way and because of the fact that Nigeria is a place that is being visited by a lot of people, and a lot of things have happened over the few months between last year and this year but that didn’t make us shy away from sponsoring an event because of the economic situation, especially one as important as TEEKY.” TEEKY’s CEO, Doris Akpowa, whose joy knew no bound said, “We actually started as a magazine called TEEKY magazine which is meant for children 10 years ago.

So today we are actually celebrating 10 years of publishing TEEKY magazines that comprises beautiful things that children like, with fun learning to keep them busy and it’s basically a magazine that they love.

Through the magazine we have the Fan Club and then we organised summer camps for and many more for them. They go abroad summer trips every year and we also do local trips as well as summer camps right here in TEEKY arena.”

The TEEKY arena is basically multipurpose place for any kind of event like summer camps, birthday parties, Christmas parties, wedding, and children parties and fully loaded with assorted craft items for kids.

“In the TEEKY arena we have the TEEKY Entertainment and studio for artistes and also encourage kids to do that; we have the Craft store for Craft items basically Item-Hobby Crafts that parents and their kids can use to make projects and also school projects; DIY toys and many more. We don’t just carry toys, we carry toys that children can actually learn something from because we are all about creativity, nurturing the young ones and bringing out the excellence in them, and we hold a lot of high standard when it comes to moral and character,” she said.

“We have to make sure that the songs and things that we expose the children to will have a lot of high moral values in it and we are encouraging,” Akpowa noted.

TEEKY has a lot of education within everything they do. They started with children magazine and over the years evolved into a family entertainment brand called the TEEKY group.

“In 10 years we have made a lot of mark in children and I can tell you a lot of kids who started reading TEEKY magazines when they are 10, now they are 20 years. They are basically adults and we have made a lot of impacts in them and you know our summer camp is a life transforming event for them. Those who have been to the summer camps never stop talking about it because of the activities, the things they expose them to. Things they never would have been exposed to, when they are here so it’s not just taking them on sightseeing they also get involved in sports such as canoeing, mounting, hiking, rope play, swimming, tennis, language lessons, as well and learning to eat the kind of food they eat as well and many more and to basically interact with other cultures and

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Kids playing with mascot

The Dorothy Hall for games

to make new friends.”

On whether any company partners with TEEKY, Akpowa answered in the affirmative.

“Yes, when we do our summer camp, we partner with the organisations abroad and we also have specialised programme for the kids so we don’t just run it according to what their camp is providing. We add our extras and we make them do extras so we include sightseeing, excursion and all of that.”

Dan Akpowa who was present to support his wife, said families should create time to relax. “I think families need to communicate more. You need to talk to your spouse, your children. Communication in a number of relationships is lacking. A lot of relationships are breaking down due to lack of communication so people must communicate.”

For families to bond well, he said parents should learn to take their children out to beautiful places like the TEEKY arena for dinner and a lot of other stuffs.

TEEKY event centre is a wonderful place for fun. A place that parents and kids should go and merry, a place that spouses can go and hang out for fun and also a centre of education for kids as everything about it is aimed at fashioning other creative ways as well as improving the intellect of kids and youths for a better and greater tomorrow.

TEEKY event centre is a wonderful place for fun.

A place that parents and kids should go and merry, a place that spouses can go and hang out for fun and also a centre of education for kids as everything about it is aimed at fashioning other creative ways as well as improving the intellect of kids and youths for a better and greater tomorrow

The Akpowas

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email:foreigndesk@thisdaylive.com

Europe Presses Britain for Quick Exit to Limit Global Fallout Britain has been facing an angry calls from other European leaders to act quickly to resolve the political and economic chaos unleashed by its vote to leave the European Union which the IMF said could put pressure on global growth.

Financial markets recovered slightly on Tuesday after the result wiped a record $3 trillion off global shares and sterling fell to its lowest level in 31 years, but trading was volatile and policymakers vowed to take all necessary measures to protect their economies.

British finance minister George Osborne, whose attempt to calm markets fell on deaf ears on Monday, said he would have to cut spending and raise taxes to secure fiscal stability after a third credit ratings agency downgraded the country’s debt. Firms have announced hiring freezes and possible job cuts, dashing voters’ hopes the economy would thrive outside the EU. European countries are particularly worried about the impact on the rest of the European Union of the uncertainty created by Britain’s vote to leave, with little idea of when, or even if, the country will formally declare it is quitting.

European Commission President Jean-Claude Juncker told the

European Parliament he would be urging British Prime Minister David Cameron to“clarify as soon as possible” the British position, but did not expect him to launch the two-year withdrawal process “today, or tomorrow morning”.

“We cannot be embroiled in lasting uncertainty,” he said in a speech which he interrupted to ask British lawmakers who campaigned to leave the EU why they were there.

Cameron, who resigned after it became clear he had failed in his efforts to persuade the country to stay in the EU in the referendum, which he called, says he will leave it to his successor to formally declare Britain’s exit.

His party says it aims to choose a new leader by early September, but those who campaigned for Britain’s leave vote have made clear they hope to negotiate a new deal for the country with Europe before triggering the formal exit process.

European leaders have said that is not an option.“No notification, no negotiation,” Juncker said.

Cameron arrived in Brussels on Tuesday and went into a meeting with Juncker without exchanging any words in front of the media.

He will also meet other European counterparts one-on-one before addressing them all at what

promises to be a frosty dinner to discuss what has become known as Brexit. EU lawmakers have made clear they hope he will trigger the exit process at the dinner, but an EU official said on Monday that was unrealistic given the political chaos in London, where both Cameron’s party and opposition Labour are deeply divided.

The ruling Conservative Party in parliament is split into pro and anti EU camps and the leader of the opposition Labour Party, Jeremy Corbyn, faces a no confidence vote on Tuesday from parliamentarians who accuse him of lukewarm support for the EU.“The 27 other members of the EU should not wait for the disorientated Tory (Conservative) party to get its act

together,”former Belgian PM Guy Verhofstandt, leader of the liberal group in the European Parliament, said on Tuesday, denouncing what he called the “lies” of the Leave campaign.

For Britain, the outlook is bleak.

Fitch joined other major credit ratings agencies in downgrading its sovereign debt on Monday, making the promises by leave

campaigners that Britain’s economy would be stronger outside the EU appear empty.

“We are absolutely going to have to provide fiscal security to people, we are going to have to show the country and the world that the government can live within its means,” Osborne, who, like Cameron campaigned to stay in the EU, told BBC radio.

Lebanon Fears New Terror Wave after Multiple Suicide Attack The Lebanese government yesterday warned of a heightened terrorist threat after eight suicide bombers targeted a Christian village at the border with Syria, the latest spillover of its conflict into Lebanon.

The village of Qaa was targeted on Monday in two waves of suicide attacks that killed five people. The first group of bombers attacked before dawn and the second later at night, two of them blowing themselves up near a church.

Security officials believe Islamic State militants were behind the attack. There has been no claim of responsibility.

In reference to the number of attackers, the Lebanese government said the attack and the “unfamiliar way” it was carried out represented a new phase of “confrontation

between the Lebanese state and evil terrorism”.

Prime Minister Tammam Salam “expressed his fear that what happened in Qaa is the start f a new wave of terrorist operations in different areas of Lebanon,” Information Minister Ramzi Jreij said in televised comments after a cabinet meeting.

Sunni Islamist militants have repeatedly struck in Lebanon since the eruption of the war in neighboring Syria, where the powerful Lebanese Shi’ite group Hezbollah is fighting in support of President Bashar al-Assad.

Interior Minister Nohad Machnouk, speaking from Qaa, said most of the attackers had come from inside Syria, and not refugee camps hosting Syrian refugees who number well over 1 million in Lebanon. Local authorities had imposed curfews on Syrian refugees i n t h e a re a following the attacks.

South Sudan: Rebel, Army Clashes Claim 43 At least 43 people were killed in fighting between armed groups and government forces around the northwest South Sudanese town of Wau last week, a government official said yesterday.

Thousands fled the clashes in the world’s newest country, still hit by violence almost five years after securing its independence from former civil war foe Sudan, and months after a peace deal with rebels inside its own borders.

Government forces had battled fighters loyal to Ali Tamin Fatan, a militia leader trying to control territory further west near the border with Central African Republic, government spokesman

Makuei Lueth told reporters.

“So far up to this morning the report which I got is that there are 39 (civilian) bodies and another four belong to police,”Lueth said.

Numbers could rise, he added, as there were currently no casualty figures from the army. Lueth said Fatan was trying to carve out an Islamist state but added that his force included members of the notorious Lord’s Resistance Army, a nominally Christian group that fought a violent insurgency in neighboring Uganda and has launched attacks across the region. He was not immediately available to give further details.

VICTORY MOOD

Nigel Farage, the leader of the United Kingdom Independence Party (UKIP), leading a celebration after Britain voted to leave the European Union in London…recently

Kremlin: Mending Ties with Turkey ‘Not a Matter of a Few Days’ The Kremlin said yesterday that it would take more than a few days to mend Russia’s relations with Ankara, after Turkish President Tayyip Erdogan expressed regret over the downing of a Russian military plane last year.

Russian President Vladimir Putin had said an apology from Erdogan was the condition for repairing relations between the two countries, which were poisoned when the Russian jet was shot down near the SyrianTurkish border in November.

After writing to Putin to voice

his regret over the incident, Erdogan said he now believed that Ankara would normalize relations with Moscow“rapidly”.

The Kremlin was more cautious on Tuesday.

“One should not think it possible to normalize everything within a few days, but work in this direction will continue,” Kremlin spokesman Dmitry Peskov told a conference call with journalists.“President Putin has expressed more than once his willingness to uphold good relations with Turkey and the

Turkish people,” Peskov said.

“Now a very important step has been made in this respect.”

Putin and Erdogan will hold a telephone conversation at Moscow’s initiative on Wednesday, Peskov said.

Ankara said it shot down the plane because it entered Turkish airspace, an allegation Moscow denies. The Russian pilot ejected from the plane but was killed by gunfire from rebels on the ground in Syria as he parachuted down to earth. Moscow, which imposed economic sanctions on

Ankara over the downed plane, had said that apart from official apologies it also wanted Turkey to pay compensation for the incident.

However, Turkish Prime Minister Binali Yildirim said on Tuesday that Turkey would not pay compensation to Russia over the downing of the plane.

Yildirim also told reporters in parliament that legal proceedings were underway against an individual allegedly responsible for the killing of the Russian pilot.

Myanmar Court Lays New Charges against Saffron Revolution Leader A Myanmar court laid additional charges against a former monk and leader of the 2007 “Saffron Revolution” anti-junta uprising, accusing him of trespass and “mischief” committed four years ago. Nyi Nyi Lwin, better known as Gambira, was arrested in January for illegally entering Myanmar from neighboring Thailand.

The new charges relate to the reopening of monas-

teries that were sealed off after the monk-led protests.

The alleged violations took place in 2012, after Gambira’s release from prison where he had served time for his involvement in the demonstrations.

“Gambira force-opened the gates of three monasteries in Yangon, which were sealed off by the military in the crackdown on the protests, since the activ-

ist monks couldn’t find anywhere to live after their release in the amnesty in 2012,” said Gambira’s lawyer, Robert San Aung.

The charges were laid days before he was about to be released from prison, where he has been serving time for allegedly crossing the Thai-Burma border without an official visa.

He has now been moved to Yangon’s notorious Insein

prison from Mandalay to face the new charges. The fact that a high-profile political prisoner is moved around the country and charged for seemingly minor offences committed years ago shows democratic reforms in Myanmar under Aung San Suu Kyi’s leadership are still in their early stages, as many junta-era institutions, mechanisms and laws remain unchanged.

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`Michelle Obama Promotes Girls’ Education in Morocco U.S. first lady Michelle Obama, her mother and daughters Sasha and Malia were joined

by Meryl Streep in Morocco’s Marrakesh yesterday on a sixday tour to try to promote girls’ education. More than a third of Morocco’s population of 34 million is illiterate - one of the highest rates in North Africa, and the rate is higher for women at 41 percent, official data shows.

“I am sitting here now as the U.S. first lady, talking to you, because of my education,”

Michelle Obama told a dozen girls from different towns.

The Millennium Challenge Corporation (MCC), a U.S. government foreign aid agency, announced during her visit the allocation of $100 million to be spent on 100,000 Moroccan students, half of whom will be teenage girls.

The funds come from $450 million given by the MCC last year to boost education and employablity in Morocco.

Michelle Obama stepped up her campaign for girls’

education after Islamist group Boko Haram seized 276 girls from their school in Nigeria in 2014 and she highlighted their plight through a Twitter hashtag, #BringBackOurGirls.

She spent Sunday and Monday in Liberia, where she visited a U.S. Peace Corps site and a school with President and Nobel Peace laureate Ellen Johnson Sirleaf, promoting Let Girls Learn, a U.S. government initiative begun with her husband in 2015.

Data Files from EgyptAir Sent Back to Egypt Data files from crashed EgyptAir flight MS804 were sent to Egypt yesterday after one of the plane’s black box flight recorders was repaired in France, bringing investigators closer to explaining the doomed jet’s fate. The Airbus A320 plunged into the eastern Mediterranean Sea en route from Paris to Cairo on May 19 and all 66 people on board were killed. The cause of the crash remains unknown.

The plane’s Flight Data Recorder was repaired in laboratories belonging to France’s BEA aircraft accident investigation agency late on Monday and the data files transferred to Egypt on Tuesday, Egyptian

investigators said.

“The data file was transferred to Cairo today for decoding, validating and studying of data at the laboratories of the central department for aircraft accidents at the Ministry of Civil Aviation,” Egypt’s Aircraft Accident Investigation committee said in a statement. The process would take several days, the committee said, and repairs on the plane’s second black box, the Cockpit Voice Recorder, started yesterday.

Damaged memory chips from the black boxes were flown to France on Monday after Egyptian investigators had tried without success to repair them. The chips should allow investigators to

begin transcribing and analysing the recordings and data which may hold key insights into what caused the crash.

The plane is believed to have crashed in the deepest part of the Mediterranean and the black boxes, recovered last week, were badly damaged. Debris from the jet was brought to Cairo airport on Monday, where investigators will try to reassemble part of the aircraft’s frame in search of additional clues. The Paris prosecutor’s office opened a manslaughter investigation on Monday but said it was not looking into terrorism as a possible cause of the crash at this stage.

Zuma to Repay $510,000 for Private Residence Upgrades South Africa’s President, Jacob Zuma, should pay 7.8 million rand ($510,074) for non-security upgrades to his private Nkandla home, the National Treasury said on Monday. In a stinging rebuke that hit the scandal-plagued leader financially and politically, the top court in Africa’s most industrialised country in March ordered Zuma to pay back some of the $16 million of state money spent upgrading his private home.

Record unemployment and a looming recession have exacerbated discontent with Zuma’s leadership, ahead of local elections in August. Zuma has managed to hold on to

his post with backing from the ruling African National Congress (ANC), which has been in power since the end of white-minority rule in 1994.

The court gave the Treasury 60 days to work out a “reasonable cost”. Zuma has said he would pay back some of the money used to refurbish the Nkandla residence, which is in KwaZulu-Natal province. On Monday Zuma’s office said it would comment on the Treasury report after studying it.

In 2014, Public Protector Thuli Madonsela, whose office is a constitutionally mandated anticorruption watchdog, identified a swimming pool, cattle enclosure,

chicken run, amphitheatre and visitor centre as non-security items that Zuma must pay for.

Estimates from Madonsela’s report had pegged the bill at around 10 million rand.

The unanimous ruling of the 11-judge Constitutional Court also said Zuma had failed to “uphold, defend and respect” the constitution by ignoring Madonsela’s recommendations.

In April, Zuma survived an impeachment vote in parliament after the court’s ruling thanks to backing from ANC lawmakers. In December he was widely criticised for changing his finance minister twice in a week, sending the rand plummeting.

Former Pope Benedict Makes Rare Appearance with Successor, Francis Former pope Benedict made one of his rare public appearances yesterday to be feted by his successor Pope Francis, two days after Francis denied reports that Benedict was still exercising influence in the Vatican. Benedict, an 89-year-old German, stood without a cane for part of a ceremony in a Vatican hall to mark the 65th anniversary of his ordination to the priesthood.

But Benedict, in his first public comments in the presence of his successor, did appear to have difficulty pronouncing a few words as he thanked Francis and a small group of cardinals

in Italian.

In 2013 Benedict, citing health reasons, became the first pope to resign in some 600 years, ending a papacy of nearly eight years marked by a scandal centered around leaked documents that alleged corruption and mismanagement in the Vatican.

He has since been living in relative isolation in a convent in theVatican gardens and has made only a handful of brief public appearances, usually at major Church ceremonies together with Francis such as the investiture of new cardinals.

On Sunday, speaking to

reporters aboard his plane while returning from a visit to Armenia, Francis was asked about reports that Benedict was a sort of parallel pope, still exercising influence. “There is only one pope,” Francis said. He praised Benedict for “protecting me, having my back, with his prayers”.

Francis, who has compared Benedict’s presence in the Vatican to having a “wise old grandfather” at home, said he had heard that when some Church officials had gone to Benedict to complain that Francis was too liberal, Benedict “sent them packing”.

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FRC Highlights Benefits of Proposed Unified Code of Corporate Governance Obinna Chima The Chief Executive Officer of Financial Reporting Council of Nigeria (FRC), Mr. Jim Obazee has said the proposed National Code of Corporate Governance (NCCG) will help raise standard of running entities in Nigeria.

In his address at the final public hearing on the draft NCCG in Lagos, Obazee said the importance of corporate governance for success as well as national development cannot be ignored.

Obazee further said the code, when operational, would come with numerous benefits among which are; increased management credibility, more long-term investments, lower cost of capital, improved access to new capital, higher share values, more disclosures in accounts, better investment decisions, transparency and accountability in financial management.

While thanking President Muhammadu Buhari, the FRC CEO said: “At the FRC, our understanding of the change Mr. President is talking about is a ‘change of epic proportions’ it

is a change of consciousness as well as a change of behaviour.

The premise of this requires an understanding of the fact that the pain to be endured from the charge must be experienced as a lesser pain to that of continuing the present course.

“It requires us to dream of Nigeria differently. This is the journey we must undertake now in our consideration of this NCCG. It is not the hero’s journey but the collective journey of each of us, together! He stated. He however maintained that the council is interested in constructive comments from stakeholders in order to come up with a National Code that we can all be proud of.

The Chairman, Steering Committee of the draft National Code of Corporate, Mr. Victor Odiase said the code was in response to outcry by minority shareholders over non representation of their interest in decision making and board meetings.

“The NCCG sets out to address the persistent conflict of interest between Majority and Minority Shareholders with a view to ensuring that parties

as well as their investments are protected,” he stated.

Odiase also clarified some misconceptions about the NCCG by some stakeholders who believe that the NCCG was solely an FRC affair aimed at fighting certain individuals and corporate bodies.

According to him, the Steering Committee to develop the code was inaugurated by the federal government in January, 2013 with the sole mandate to develop and come up with a unified corporate governance code that would replace the already existing persuasive codes of the Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC), Corporate Affairs Commission (CAC), Nigerian Communications Commission (NCC), National Insurance Commission (NAICOM), National Pensions Commission and the Nigerian Deposit Insurance Commission (NDIC).

Other regulatory bodies like CBN, SEC and CAC sent their representatives to the occasion and they all pledged their support for the development of the NCCG.

Visa Intensifies Efforts to Curb Electronic Fraud Ugo Aliogo and Joan Madubugwu One of the leading electronic payments solutions, Visa International is to intensify efforts to curb fraud in the electronic payment system.

The company stated that the electronic industry has developed new methods involving cloud-based Near Field Communication (NFC) mobile technology, e-commerce and in-application systems, which would help make payments easier and more accessible.

Addressing journalists at the Card Security in Lagos, the General Manager, West Africa, for Visa, Ade Ashaye, said the Payment Card Industry Data Security Standards (PCIDSS) has set risk management policies and programmes in order to define the technical and operation requirements for cardholder data protection.

He explained that beyond these standards and compliances, the electronic payments networks have taken steps to

prevent fraud, while ensuring that risk management assets are oriented to new threats and systems geared to resist any attacks.

Ashaye noted that the adoption of EMV chip enabled cards, tokenisation and point-to-point, encryption are technologies that would positively shape the card industry in the coming years.

“The global shift towards chip-based EMV cards is the solid foundation for fraud protection. The chip serves as a micprocessor embedded in the plastic payment cards or mobile phones. Unlike magnetic stripe cards, the data on the chip is dynamic and changes with every transaction, making it complex for criminals to create counterfeit chip cards or fraudulent transactions,” he noted.

He further stated that one of the most important initiatives for strengthening security in payments was the collective responsibility of all units in the payment ecosystem. This, he said, is made up of financial

institutions, merchants, and card networks, adding that “every stakeholder should take measures to protect consumers from fraud.”

He added: “Merchants and issuers who comply with EMV standards benefit from the reduction of potential losses from fraudulent transactions.

By upgrading their payment terminals, business owners can significantly reduce the threat of card fraud. The aim of the payment industry is to accelerate this evolution and government regulation has helped speed the process.

“At Visa, our global fraud rate is less than 6 cents per $100 transacted. Undoubtedly, the industry has made great strides towards a safer payments system along with the cooperation of merchants and government. However, it is a continuous process, as innovations keep the momentum towards more cashless transactions, so security must keep up with the pace and combat fraud proactively.

Fidelity Bank Upbeat on Diaspora Remittances Fidelity Bank Plc has expressed optimism that the prevalent economic condition triggered by the slump in global oil prices will not reduce diaspora remittances to Nigeria.

It predicted that remittances from Nigerians living abroad would rise to $35 billion in 2016, making Africa’s most populous country, one of the largest recipient of remittances globally.

Speaking at a prize presentation ceremony held in Enugu, the bank’s Executive Director, South, Aku Odinkemelu, was quoted in a statement to

have revealed that despite the slowdown in economic activities, diaspora remittances has continued to grow.

Odinkemelu, who pointed out that Nigeria can take advantage of the enormous, but untapped financial reservoir from the diaspora to weather the current economic storm, recognised the growing potential of this market segment in the South-east region.

At the ceremony, the bank presented a brand new Kia Rio car to a lucky customer, Malachy Igbodo, the winner of the bank’s MoneyGram Promo.

Fidelity Bank ED said

the promo was intended to acknowledge the massive contributions of the South-east region particularly as it relates to boosting diaspora remittances and other capital inflows into the Nigerian economy.

Odinkemelu noted that the performance of the financial institution in the region was second to none.

She further added, “We are regarded as the bank for the South-east and South-south and the evidence is the growing patronage and loyalty of customers; we are determined to recognize and reward that loyalty.”

Obazee

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(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) Stanbic Balanced Fund

Buying Price(N)

Selling Price

1,660.29

1,685.29

Stanbic IBTC NEF

1,000.00

11,002.32

11,326.67.11

Stanbic SIBond

20

120.47

120.47

Stanbic IBTC Ethical

1

1.10

1.13

Stanbic IBTC GIF

142.90

143.38

UBA Balanced Fund

1.2563

1.2493

UBA Bond Fund

1.3443

1.3443

UBA Equity Fund

0.8205

0.8074

UBA Money Market Fund

1.1510

1.1510

ARM Aggressive Growth Fund

N13.1141

N13.5095

ARM Discovery Fund

N288.9978

N297.7112

ARM Ethical Fund

N22.6462

N23.3290

ARM Money Market Fund

13.1161 (Yield % ) • Monetary Policy Rate - 13%

OPEC DAILY BASKET PRICE AS AT 27 JUNE 2016 The price of OPEC basket of thirteen crudes stood at $44.32 a barrel on Monday, compared with $44.88 the previous Friday, according to OPEC Secretariat calculations. The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Murban (UAE), Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), 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) and Merey (Venezuela).

SOURCE: OPEC headquarters, Vienna

55

T H I S D AY • WEDNESDAY juNE 29, 2016

Nigeria’s top 50 stocks based on market fundamentals

28-June- 27-June-16 16

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

01 Dangote Cement Plc

192.11

192.11

0.00%

3,273,651,877,574.55

10.64

18.05

6.66

4.16%

5.08

02 Nigerian Breweries Plc

140.00

144.00

-2.78%

1,110,074,124,320.00

5.37

26.08

4.02

2.57%

6.51

03 Nestle Nigeria Plc

849.99

855.00

-0.59%

673,749,887,637.48

29.95

28.38

4.45

3.41%

17.73

04 Guaranty Trust Bank Plc

22.32

23.00

-2.96%

656,903,920,279.68

3.38

6.61

2.87

7.93%

1.59

05 Zenith Bank Plc

15.65

15.96

-1.94%

491,355,127,750.90

3.37

4.65

1.14

11.50%

0.83

06 Lafarge Africa Plc

73.51

73.51

0.00%

334,830,832,053.10

5.93

12.40

1.25

4.08%

1.90

07 Ecobank Transnational Incorporated

16.70

16.30

2.45%

306,437,505,290.50

1.39

11.99

0.59

3.71%

0.82

08 Forte Oil Plc.

191.00

190.00

0.53%

248,773,890,673.00

4.45

42.94

2.00

1.81%

5.38

09 Seplat Petroleum Dev. Co. Ltd

340.00

331.60

2.53%

188,125,506,420.00

23.48

14.48

1.67

4.68%

0.67

10 United Bank for Africa Plc

4.72

4.73

-0.21%

171,239,364,239.84

1.64

2.87

0.54

12.71%

0.51

11 Access Bank Plc

5.80

5.90

-1.69%

167,782,235,459.80

2.28

2.55

0.50

9.48%

0.46

16.20

16.15

0.31%

162,000,000,000.00

2.04

7.95

1.37

0.62%

1.44

13 Guinness Nig Plc

106.40

109.90

-3.18%

160,226,503,203.20

0.78

136.71

3.22

0.00%

3.58

14 FBN Holdings Plc

3.81

4.05

-5.93%

136,761,065,537.52

0.42

9.03

0.27

3.94%

0.24

15 Unilever Nigeria Plc

33.00

33.00

0.00%

124,848,776,250.00

0.32

104.71

2.11

0.15%

15.60

16 P Z Cussons Nigeria Plc

23.00

22.65

1.55%

91,320,972,035.00

1.10

20.96

1.26

5.65%

2.17

17 7-Up Bottling Comp. Plc

140.00

140.00

0.00%

89,682,650,820.00

11.12

12.59

1.15

1.57%

3.74

18 Dangote Sugar Refinery Plc

6.55

6.55

0.00%

78,600,000,000.00

0.96

6.81

0.78

7.63%

1.35

19 Oando Plc

6.27

6.65

-5.71%

75,457,060,465.38

0.50

12.54

0.13

11.96%

0.48

20 Transnational Corporation Of Nigeria Plc

1.81

1.99

-9.05%

70,085,005,339.25

0.05

34.50

1.72

0.00%

0.80

19.99

19.99

0.00%

65,852,043,107.20

0.64

31.28

3.56

1.25%

5.47

190.00

200.00

-5.00%

64,509,149,030.00

11.92

15.94

0.31

7.37%

3.97

48.51

46.20

5.00%

64,033,200,000.00

1.85

26.24

0.48

3.09%

2.64

169.00

169.00

0.00%

60,940,599,278.00

13.51

12.51

0.95

4.26%

3.97

25 Flour Mills Nig. Plc

22.32

22.68

-1.59%

58,572,974,013.84

1.84

12.12

0.18

8.96%

0.57

26 Diamond Bank Plc

2.22

2.26

-1.77%

51,416,063,508.96

0.24

9.09

0.24

0.00%

0.24

27 Sterling Bank Plc

1.44

1.51

-4.64%

41,458,202,101.44

0.36

4.03

0.38

6.25%

0.43

28 U A C N Plc

19.99

19.99

0.00%

38,398,079,096.13

2.70

7.41

0.52

5.00%

0.52

29 Presco Plc

37.00

36.50

1.37%

37,000,000,000.00

3.28

11.28

3.26

0.27%

1.65

1.27

1.27

0.00%

36,782,483,828.84

0.48

2.65

0.25

12.60%

0.20

18.00

18.00

0.00%

33,807,636,720.00

3.21

5.61

1.00

7.22%

3.27

1.64

1.66

-1.20%

32,476,445,680.84

0.24

6.82

0.21

6.10%

0.20

32.00

31.01

3.19%

30,525,120,000.00

2.76

11.60

3.13

0.31%

2.53

0.75

0.78

-3.85%

28,930,849,560.75

0.06

12.43

0.63

0.00%

0.63

23.02

23.22

-0.86%

27,529,076,753.76

0.81

28.53

0.90

1.30%

2.09

2.58

2.58

0.00%

27,090,000,000.00

0.16

16.30

1.63

1.94%

1.56

34.68

34.68

0.00%

24,276,000,000.00

2.49

13.96

3.44

3.32%

15.97

38 Custodian And Allied Insurance Plc

4.00

4.00

0.00%

23,527,456,780.00

0.71

5.60

0.79

3.50%

0.90

39 National Salt Co. Nig. Plc

8.00

8.14

-1.72%

21,195,507,024.00

0.79

10.07

1.31

6.88%

2.99

40 Honeywell Flour Mill Plc

1.93

2.03

-4.93%

15,305,281,479.94

0.14

13.66

0.31

8.29%

0.71

41 Skye Bank Plc

1.04

1.08

-3.70%

14,435,513,466.40

0.85

1.22

0.11

28.85%

0.10

42 Unity Bank Plc

1.08

1.09

-0.92%

12,624,484,977.36

0.54

1.99

0.20

0.00%

0.15

43 Continental Reinsurance Plc

1.14

1.15

-0.87%

11,824,928,515.68

0.21

5.52

0.60

10.53%

0.76

44 Cement Co. Of North.Nig. Plc

7.45

7.45

0.00%

9,362,249,356.70

0.96

7.79

0.72

1.34%

0.92

45 UACN Property Development Co. Limited

4.50

4.50

0.00%

7,734,374,977.50

1.81

2.49

0.69

15.56%

0.23

46 Nigerian Aviation Handling Company Plc

4.24

4.46

-4.93%

6,886,687,500.00

0.33

12.81

0.81

4.72%

1.13

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

0.71

0.74

-4.05%

4,920,445,180.80

0.28

2.57

0.15

7.04%

0.51

50 Fidson Healthcare Plc

2.44

2.44

0.00%

3,660,000,000.00

0.50

4.92

0.45

2.05%

0.58

12 Stanbic IBTC Holdings Plc

21 International Breweries Plc. 22 Total Nigeria Plc 23 Julius Berger Nig. Plc 24 Mobil Oil Nig Plc

30 Fidelity Bank Plc 31 Cadbury Nigeria Plc 32 FCMB Group Plc 33 Okomu Oil Palm Plc 34 Wema Bank Plc. 35 Glaxo Smithkline Consumer Nig. Plc 36 Mansard Insurance Plc 37 Cap Plc

TOTAL TOTAL MARKET CAP % OF MARKET CAP Annotation - MA* = Simple Moving Average

Table 1 Market Statistics Mkt Indicators NSE All Share Index NSE Market Cap (N'Trillion) Thisday BGL 50 Index Thisday BGL 50 Market Cap (N'Trillion)

Open Close 27-June-16 28-June-16

Change %

29,840.23 10.25

29,575.24 10.16

-0.89% -0.89%

122.85 9.57

121.74 9.48

-0.90% -0.90%

Table 3 Top 5 Gainers Stock

Open Close Change 27-June-16 28-June-16 %

Julius Berger Nig. Plc. Okomu Oil Palm Plc Seplat Petroleum Dev. Co. Ltd Ecobank Transnational Incorporated P Z Cussons Nigeria Plc

46.20 31.01 331.60 16.30

48.51 32.00 340.00 16.70

5.00% 3.19% 2.53% 2.45%

22.65

23.00

1.55%

Table 4 Top 5 Losers Stock Transnational Corporation Of Nigeria Plc FBN Holdings Plc Oando Plc Total Nigeria Plc

Open Close Change 27-June-16 28-June% 16 1.99 1.81 -9.05% 4.05 6.65 200.00

3.81 -5.93% 6.27 -5.71% 190.00 -5.00%

Market Index declines by a modest 0.90% as profit taking persists Market pulse on the Nigerian Stock Exchange (NSE) today – Tuesday, June 28, 2016 continued its bearish close as the stock market closed red due to profit taking which led to intense sell pressure. This was further highlighted by negative performances from all NSE Sub sectors: Banking, Insurance, Consumer Goods and Oil & Gas. Furthermore, trading activities decreased in volume as 255.25 million shares worth N3.30 billion in 4,812 deals exchanged hands today. This is a decrease from the 375.22 million shares worth N4.03 billion in 4,229 deals carried out on Monday. Topping in volume terms was Guaranty Trust Bank Plc, Transnational Corporation Of Nigeria Plc, FBN Holdings Plc while Guaranty Trust Bank Plc and Nestle Nigeria Plc ended trading as the most active stocks in value terms.

The All Share Index (NSEASI) closed negative with a 0.09% (-264.99) decrease to close at 29,575.24 from 29,840.23 the previous trading day. Market Capitalization appreciated in tandem to N10.16 trillion from N10.25 trillion of prior trading day. Similarly, the Thisday BGL 50 Index followed suit with a decrease of 0.90% to close at 121.74 from 122.85 recorded the previous trading day, while its market capitalization stood at N9.48 trillion from N9.57 trillion of the previous trading day.

A total number of 15 stocks gained on the bourse today while 34 stocks declined, 49 leaving stocks unchanged. Julius Berger Nig. Plc emerged the day’s toast of investors as it again topped the Thisday BGL 50 Index gainers’ list with a gain of 5.00% to close at N48.51 per share. It was followed by Okomu Oil Palm Plc with a gain of 3.19% to close at N32.00 per share.

Others on the gainers list include: Seplat Petroleum Dev. Co. Ltd, Ecobank Transnational Incorporated and PZ Cussons Nigeria Plc, while on the decliners’ list; Transnational Corporation Of Nigeria Plc led with a loss of 9.05% to close at N1.81 per share. It was followed

by FBN Holdings Plc with a loss of 5.93% to close at N3.81 per share. Others on the losers list include: Oando Plc, Total Nigeria Plc and Nigerian Aviation Handling Company Plc.

9,479,337,392,615.34 10,157,600,189,990.60 93.32%

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

56

T H I S D AY • WEDNESDAY, JUNE 29, 2016

MARKET NEWS

Lafarge Africa Shareholders Approve 300k Dividend, Bonus Issue Goddy Egene and Eromosele Abiodun Shareholders of Lafarge Africa Plc on Monday approved a dividend of 300 kobo per share and a bonus of one new share for every 10 shares held for the year ended December 31, 2015.

The approval was given at the company’s annual general meeting held in Lagos. The

company’s revenue grew by 2.5 per cent against previous year’s, reaching N267 billion in a challenging market. Strong cash flow amounting to N57.9 billion was also generated for the year.

In his address, Chairman, Board of Directors, Lafarge Africa Plc, Mr. Mobolaji Balogun noted that 2015 was transformational and the first full operational year of the new enlarged company.

T H E

“We have now built a significant platform to drive value creation for all stakeholders and in particular, our shareholders.

I thank our shareholders and my colleagues on the Board of Directors for their support and commitment that ensured that we were able to carry out these strategic initiatives,” he said.

He said the company continued to build on the successful

N I G E R I A N

completion of the Lafarge Africa asset consolidation through some strategic initiatives, including increasing its shareholding in Ashakacem to 82.46 per cent and acquisition of further stake in Unicem.

Balogun foresees growth opportunities in 2016 and beyond for the building material sector, saying “The 2016 Federal Government budget indicates a significant

STO C K

increase in the spending on infrastructure and capital projects.

The government recognizes the urgent need to re-invest in Nigerian infrastructure to catalyze much needed growth. With the on-going 2.5mt expansion project in Calabar, which is expected to be commissioned before year end, and plans for Ashaka, our cement production capacity in Nigeria is on the increase” he stated.

E XC H A N G E

The Group Managing Director/ CEO, Mr. Michel Puchercos said the Nigerian operations of Lafarge Africa, having been successfully unified and rationalised under one management team, is cognisance of the different stakeholders expectations and promise to drive efficiencies that will ultimately generate remarkable synergy savings for overall improved performance.

57

WEDNESDAY, JUNE 29, 2016 • T H I S D AY

NEWSXTRA

Naval Chief: Maritime University to Commence Academic Activities Soon No condition is permanent, Tompolo tells Buhari

Sylvester Idowu in Warri with agency report The Nigerian Navy yesterday said the naval Maritime University in Ibusa, Oshimili North Local Government Area of Delta, would soon commence academic work This came as an ex-militant leader, Government Ekpemupolo (alias Tomopolo), yesterday expressed his desire to meet with President Muhammadu Buhari on the Niger Delta crisis so as to tell him “my side of the numerous stories you have been inundated about me.”

The Chief of Naval Staff (CNS), Vice-Admiral Ibok-Ete Ibas, made the disclosure when he visited the Nigerian Navy Ship (NNS) Delta in Warri.

Ibas said that the process of obtaining the required approval for already constructed institution was being concluded.

The naval chief said the proposed university was initially conceived as a Navy College.

Ibas explained that the university was established in order to close academic gap which had necessitated the Nigerian Navy sending its personnel abroad to acquire some special skills. ”The moment the Federal Executive Council (FEC) grants the approval to commence operations, the university will start academic activities.

“It is true that the Navy is in the process of obtaining the necessary clearance to have it converted to a university that will serve the navy as well as members of the public.

“You will recall that the Navy undertakes a lot of its courses abroad in some civil institutions. ”So what the Navy has done is to go into partnership with some foreign partners who will assist us in establishing a school that will cater for the needs of the Navy in some areas we are currently deficient.

“The process of getting the university licence is still on-going, we are contacting all the relevant agencies of government for approval,” he said.

Ibas, according to the News Agency of Nigeria (NAN), also attributed the relative peace in the Niger Delta region in respect of insurgency to the dialogue

approach adopted by various organs of the government. ”You will recall that different organs of government have been dialoguing with the militants concerned, while the military maintains its posture of ensuring that militant activities are curtailed. ”For us as the navy, in peace and war times, our duty is to ensure we police the general maritime areas and ensure that legitimate business thrives,” he said.

Meanwhile, Tompolo, in an open letter to the president, hinted that it was in the interest of the nation for Buhari to employ dialogue, stressing that he should learn from the 2009 invasion of Gbaramatu kingdom and the resultant offer of amnesty by the late President Umaru Yar’Adua when military option failed.

He reminded the president that no condition was permanent, adding that he had kept faith in the country and contributed in no small measure to her development but was disappointed with what he was getting in return.

“Mr. President, remember, there is no condition that is permanent. I have kept faith in this country.

I have contributed in no small measure to the development of this country. It is my prayer that God Almighty should preserve me and meet you again to tell you my side of the numerous stories you have been inundated about me,” he said.

He said while he respected Buhari’s position as the President of Nigeria and his age, as a well brought up African child, the president should direct the military to return the looted items including the symbol of authority from his Gbaramatu kingdom.

The former militant leader reiterated that he had said severally that the military made away with the symbol of authority of the Gbaramatu people from the Egbesu shrine, where he is the chief priest.

“Today is exactly 31 days after the invasion of the traditional headquarters of Gbaramatu Kingdom, Oporoza town, by your military led by Brig. General Faruk Yahaya of the 4th Brigade, Benin City, in search of me, with the allegation that I am the one behind the

bombing and destruction of crude oil facilities in the Niger Delta region.

“And the incident happened in my absence, but I was informed that the army was on the loose and committed so much abomination in the community. Imagine, the traditional ruler of the kingdom was literally placed under house arrest for one week.

“As I said in my previous publications, the military made away with the symbol of authority of the Gbaramatu people from the Egbesu shrine, which I am the chief priest.

They also made away with other valuables worth several millions of naira from the community,” he said angrily.

He added that the most annoying aspect of the invasion was the purported arrest of 10 young promising men, most of whom were orphans, who were secondary school students sitting for the West African Senior Secondary School Examinations (WASSCE) and other palace staff, and labelled them as members of the Niger Delta Avengers.

He said: “As I write you

now, these innocent young promising men are still with your military for no reason.

This is truly man’s inhumanity to man in our own country.

We are presently being treated like conquered people because of crude oil.

“This was how they arrested Chevron Nigeria Limited staff on routine duty in Kokodiagbene community of Gbaramatu Kingdom and labelled them members of Niger Delta Avengers.

It took the spirited effort by the leaders of the kingdom and other well-meaning Nigerians to convince the military that the arrested men were not involved in pipeline destruction.”

The ex-warlord recalled that a similar incident occurred in May, 2009 when this same military invaded several communities in Gbaramatu Kingdom on the orders of the late President Umaru Musa Yar’Adua.

“As peace loving people, the kingdom approached the courts and demanded compensation for the unlawful invasion and destruction of property, in which the court awarded N99

billion in favour of Gbaramatu Kingdom.

“After seven years of that sad incident, the federal government is yet to pay the compensation.

This incident also led to the declaration of the Presidential Amnesty programme for peace to reign, as the government found out that military action is not the best way to address the Niger Delta question, and the rest became history in the life of those who led that invasion.”

Tompolo advised that the president should learn a lesson from the 2009 military invasion and do the needful.

He said: “Your excellency sir, as they say, ‘wonders shall never end’, I’m still in a great shock as the only developmental project, which is the Nigerian Maritime University, Okerenkoko, that was established by the previous administration in 2014, in the coastal area of the Niger Delta region to meet the yearnings and the aspiration of the people is yet to commence academic session, even though all is set for the university to take off.

“For instance, there are over 20 gigantic buildings of various sizes with complete furniture in

the temporary site in Kurutie town, which some mischievous people have given different narrations. Mr. President sir, I wish to challenge you to send your most trusted persons to come and see things for you, and I bet you, you will discover that some of your ministers are not fit to work with you, because they are a clog in the wheel of progress and against your change mantra in which you rode into power.

“That is not all, there is a governing council and senate properly constituted and a management council headed by a very qualified professor of engineering.

What is more, even money was duly appropriated in the 2015 budget for the university to take off, but was withheld for no reason. This is pure injustice of the highest order.

“Mr. President sir, please kindly direct your army to return the looted items including the symbol of authority, and also release those innocent young men to continue their academic programme, even though they have missed the WASSCE for this year.”

ON COMPLIANCE WE STAND

L-R: Director General, Consumer Protection Council (CPC), Mrs. Dupe Atok; Managing Director, MultiChoice Nigeria, John Ugbe; and Head, Regulatory Affairs, Gozie Onumonu, during a press briefing on compliance with CPC requirement , at the Zen Garden, Ikeja, Lagos... yesterday KOLA OLASUPO

Ambode: 85% of Nigeria’s Commercial Activities Domiciled on Lagos Island Assures on completion of light rail very soon Gboyega Akinsanmi Lagos State Governor, Mr. Akinwunmi Ambode, yesterday explained the huge economic potential of Lagos Island, saying about 85 per cent of Nigeria’s commercial activities was domiciled on the island.

The governor, therefore, disclosed his administration’s next plan of action, which he said, was “to put in place necessary structures that will sustain a 24/7 economy in the

New Lagos.”

He disclosed this at a forum with critical stakeholders in Lagos Central Business District (CBD) held in Lagos, saying the presence of the investors would be boosted with the emerging opportunities in the socio-economic landscape of the state. Ambode, who was represented at the forum by the Secretary to the State Government, Mr. Olatunji Bello, disclosed that Lagos Island had always been a

focal point of convergence for business and commercial activities and West African sub-region.

He said about 85 per cent of business and commercial activities in Nigeria “are domiciled within the business district. They include financial institutions, commercial and industrial trading companies, transportation, hospitality, entertainment as well as small and medium scale entrepreneurs.

“All these business and commercial activities converge to synergise and enhance the economic potentials of Lagos State. However, our administration is focused on providing more opportunities to investors and entrepreneurs in the emerging economic profile of Lagos Mega City.”

He added that his administration had started providing opportunities in such strategic sectors as real estate development, marine transportation,

commercial and business activities “to create job opportunities and generate wealth for investors in a conducive and secure environment.”

Ambode noted that his administration “has put in place necessary structures that will sustain a 24/7 economy in the New Lagos. Despite the global economic challenges.

We have ensured that the business districts functioned effectively to move the wheel of economic growth in the Lagos

Mega City.”

He gave an assurance that in the months to come the district will witness tremendous transformation with the completion of the Blue Line rail system and the ongoing reconstruction of the Marina axis.

Ambode said the gathering is about ways to identify the gaps in the operation of the district and what can be done individually and collectively to uplift the status of the CBD to global standards.

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NDIC: Banks Lost N18.02bn to Fraud, Forgeries in 2015 Bad loans rose by 82.87%, lenders advanced N13.3tn credit to economy James Emejo in Abuja Financial fraud and forgeries cost the banking sector a total of N18.02 billion in 2015, the Nigeria Deposit Insurance Corporation (NDIC), said yesterday.

However, the amount indicated a decreased of N7.59 billion or 29.63 percent compared to N25.60 billion recorded in 2014.

According to the corporation, a total of 12,279 fraud cases were reported in the period in review, representing an increase of 15.71 per cent over the 10,612 fraud cases reported in 2014.

Nevertheless, the actual loss suffered by the insured banks from fraud and forgeries decreased by N3.02 billion or 48.79 per cent to N3.17 billion in 2015 from N6.19 billion in 2014.

According to the breakdown of industry losses to criminal activities, internet banking fraud cost banks N857 million, representing 27 per cent of total actual loss while ATM/ Card-related fraud cases fleeced the industry to the tune of N504 million from N1.24 billion the previous year. This represented a share of 15.9 per cent of total industry loss to frauds and forgeries, although the loss suffered by the industry due to frauds declined significantly by 59.4 per cent in 2015.

According to the NDIC 2015 Annual Accounts which was

released to journalists yesterday, out of the 12,279 fraud cases reported by the deposit money banks (DMBs), 425 cases were attributed to staff.

It noted that staff-related fraud cases cost the industry N979 million in 2015, representing a decrease of N70 per cent from N3.16 billion last year.

The number of fraud cases perpetrated by staff further decreased to 425 in 2015, from 465 in 2014.

It added that the highest percentage of fraud and forgery cases of 38.59 per cent was perpetrated by temporary staff.

Notwithstanding, the corporation affirmed that the banking industry remained stable and sound during the period under review.

Industry total assets grew marginally by 1.36 per cent while total loans and advances rose by 5.56 per cent in the period under review.

It said shareholders’ funds unimpaired by losses increased by 14.02 per cent while capital adequacy ratio stood at 17.66 per cent.

The corporation further noted that total deposit liabilities of the banking sector declined by 2.83 per cent while unaudited profits also decreased by 2.02 per cent as non-performing loans increased by 82.87 per cent in 2015.

However, the non-performing loans to total loans ratio for the industry increased to 4.87 per

Police Commissioner Testifies against Lawan, Insists He Collected Bribe from Otedola Tobi Soniyi in Abuja Mr. David Igbodo, a prosecution witness in the trial of former Chairman of the House of Representatives’ Ad-hoc Committee on Fuel Subsidy Regime, Farouk Lawan, has told an Abuja High Court in Lugbe, Abuja, that his investigations revealed that the case was that of demand and receipt.

Igbodo, who is the Commissioner of Police Legal Services and Investigating Police Officer (IPO) in the office of Inspector General of Police (IG) Special Investigation Unit, said Lawan was caught on video receiving $500,000 from businessman, Femi Otedola.

Following the case of alleged bribery against Lawan by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Lawan is standing trial before Justice Angela Otaluka on a sevencount criminal charge bordering on obtaining money from Otedola in order to remove his company’s name (Zenon Oil and Gas Limited) from the committee’s report.

Lawan was alleged to have collected $500,000 out of $3million bribe he allegedly requested from Otedola in exchange for the striking out of

Zenon Petroleum and Gas Ltd, from the list of firms indicted by the house committee for alleged abuse of the fuel subsidy regime in 2012.

When the trial resumed yesterday, the witness said the matter investigated by the police was demand and receipt of a total amount of $600,000.

He said the defendant collected $500,000, while Boniface Emenalo also demanded and collected 100,000 as Secretary of the Ad hoc Committee on Fuel Subsidy Regime.

The witness added that the defendant did not deny collecting the money and that the defendant said it was for the purpose of using it against Otedola to prove that he attempted to bribe the committee.

The witness restated that it was a case of demanding and receipt, according to findings during his investigation.

After the prosecution closed his examination of the witness, the defence counsel sought an adjournment to enable his principal, Chief Mike Ozhekhome (SAN) to cross-examine the witness.

Justice Otaluka therefore granted the application for adjournment. Trial continues today.

cent in 2015, from 2.81 per cent in 2014, though still within the regulatory threshold of five per cent, the NDIC noted.

Total industry loans and advances to the Nigerian economy was valued at N13.33 trillion in 2015, representing an increase of 5.56 per cent over the N12.63 trillion reported in 2014.

In 2015, the banking industry operated profitably, though earnings and profitability deteriorated. The unaudited profit-before-tax (PBT) for the industry stood at N588.86 billion as at 31st December, 2015 representing a decrease of 2.02 per cent over N601.02 billion reported the previous year.

The banking industry’s liquidity position was adjudged to be strong as average liquidity

ratio rose slightly from 53.65 per cent in 2014 to 58.18 per cent in 2015.

It said all the individual DMBs had liquidity ratios above the prudential minimum threshold of 30 per cent as at 2015.

Meanwhile, the corporation said it made a cumulative payment of N6.79 billion to 426,324 insured depositors of the closed DMBs as at 31st December, 2015 as against N6.795 billion to 426,320 insured depositors in 2014.

It added that N2.86 billion was paid to 81,328 depositors of the closed Microfinance Banks (MFBs) in 2015 as against N2.77 billion paid to 80,178 depositors in 2014, while a cumulative payment of N45.05 million was made

to 595 depositors of closed Primary Mortgage Banks (PMBs) against N2.02 million paid to 30 depositors in the previous year.

The NDIC further stated that the sum of N95.77 billion was paid as liquidation dividend to depositors of DMBs in 2015 compared to N94.74 billion in 2014. The amount included the uninsured portion of private sector depositors of 11 out of the 13 banks closed post-bank consolidation which was funded by the CBN. Also, it stated that the liquidity position of the microfinance subsector remained strong as average liquidity ratio rose from 80.37 per cent in 2014 to 119 percent in 2015 and compared favourably with the minimum prudential threshold of 20 per

cent.

It stated that the performance of the MFB subsector improved compared to the previous year as they had strong capital base and liquidity.

Moreover, it stated that out of 42 PMBs in operation, a total of 14 failed to render returns to the NDIC, while unpaid premium from nine of them amounted to N238.30 million in 2015.

It added that though total loans and advances extended by the PMBs declined significantly by 31.87 percent to N168.96 billion in 2015, there was a significant improvement in the quality of assets as the Non Performing Loan (NPL) ratio decreased from 44.14 per cent in 2014 to 15.40 per cent in 2015.

GO AND DO YOUR BEST

R-L: National Chairman, Independent Democrats (ID), Hon. Edozie Madu; Chairman, Committee on Edo State primaries election, Chief Omife I. Omife and Secretary of the Committee, Abubakar Bala Dankande, during the inauguration of the Coordinating Committee Members on the Edo State gubernatorial primaries at the party’s national headquarters in Abuja ....yesterday

BURATAI BRANDSTHOSE BEHIND DUBAI PROPERTIES REPORT‘INTERNETBOKO HARAMTERRORISTS’ warning that “anybody who is attempting to overthrew the democratically elected government is mistaken”.

The army chief also connected the rumoured coup plot story to his ownership of properties in Dubai.

“As I told you, those terrorists in cyberspace are wobbling. We have completely defeated them on the ground and they have decided to migrate to cyberspace. We are however developing our own cyber warriors to also defeat them there.

“I assure you that we will not be distracted by these internet terrorists in cyberspace.

We will pursue them until we completely defeat them the way we defeated Boko Haram in the North-east,” he vowed.

On this year’s NADCEL, Buratai said that it would be unique, albeit low key, but at same time showcase the Nigerian Army’s commitment as a professionally responsive force in the discharge of its constitutional roles.

He said NADCEL was an annual event which was first celebrated on July 6, 1978 “in solemn remembrance of that historic first shot on July 6, 1967 marking the commencement of the country’s 30-month civil war to keep Nigeria one”.

“It was equally to bring to the knowledge of all Nigerian Army personnel and indeed all Nigerians the fact that the war was an unfortunate tragedy and the reconciliation afterwards should be instrumental to the strengthening of our national unity,” he said.

He said the army uses the NADCEL week to reflect on its performances in the previous year, for more effective projections and planning for the following year.

Meanwhile, sources in the intelligence community revealed yesterday that the two properties Buratai and his wives acquired in Dubai were timeshare properties that do not belong to them alone and were bought for

investment purposes.

According to Wikipedia, a timeshare (sometimes called vacation ownership) is a property with a particular form of ownership or use rights.

These properties are typically resort condominium units, in which multiple parties hold rights to use the property, and each sharer is allotted a period of time (typically one week and almost always the same time every year) in which they may use the property.

Units may be on a partial ownership, lease, or “right to use” basis, in which the sharer holds no claim to ownership of the property.

A senior intelligence source, who opened up to PRNigeria, a media advisory firm, on the timeshare properties bought

by Buratai, said: “If you know the properties being referred to, you would know that they are like quoted companies.

You buy into them and get dividends as profit from your investments.”

The intelligence military officer who is involved in the investigation over the acquisition of the properties also confirmed that apart from Buratai declaring his assets as required by law, “the Dubai properties are real estate investments tailored to operate on the market principles of shares for dividends and profits as proceeds from investment rather than total ownership of the property”.

The source further disclosed that Buratai also has had interests in large scale farming since he was a major.

“He has large scale farm produce comprising grains, cassava, millet and also has a fish pond apart from variety of animals and reptiles that provide specialised nutrients and medicines for different clients.

“The 1999 Constitution (as amended) under Fifth Schedule Part 1- permits a public officer to engage in farming,” the officer said.

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Witness: Dasuki Authorised Payment to Jonathan’s Cousin’s Company Says Badeh wanted me to claim his property

Alex Enumah in Abuja Mr. Ibrahim Maye, a prosecution witness in the trial of Mr. Azibaola Roberts, cousin to former President Goodluck Jonathan, who is facing corruption and money laundering charges preferred against him by the federal government yesterday told a Federal High Court in Abuja that former National Security Adviser (NSA), Col. Sambo Dasuki (rtd), authorised the payment mandate of $40 million in favour of One Plus Limited, a company said to belong to Roberts.

Roberts along with his wife is being prosecuted by the Economic and Financial Crimes Commission (EFCC) over alleged payment of $40million into their company, One Plus Holdings Nigeria Limited, by the Office of the ONSA).

They pleaded not guilty to the seven-count charge read to them before Justice Nnamdi Dimgba of the Abuja division of the Federal High Court.

At the resumed trial yesterday, Maye, who was the first prosecution witness (PW1) of the EFCC, told the court that Dasuki had endorsed a memo to him with details of the company’s account.

According to the witness,

a memo was sent to him in his capacity as the Permanent Secretary, Special Service Office, a department in the office of the Secretary to the Government of the Federation (SGF).

He said: “On August 20, 2014, the NSA endorsed a memo to me which originated from the director of finance and administration in the office of the NSA giving bank details of a company called One Plus.

“The memo also gave details of the purpose for which the company was to be paid the sum of $40 million.

“The NSA instructed me to prepare payment and my understanding of that was that I should prepare the payment mandated for One Plus for his signature.”

Maye disclosed that after he got the memo, he prepared the payment mandate and send it to Dasuki who then signed and return it back to him.

The witness stated further that having received the payment mandate, “the subsequent necessary action was for me to counter sign, which I did and I sent it to the Central Bank of Nigeria (CBN) for payment,” Maye said.

Chimamanda, Airtel Task Nigerian Pupils on Reading, Leadership Sunday Okobi Renowned novelist, Chimamanda Ngozi Adichie, has called on Nigerian school pupils to imbibe the habit of constant reading, as well as learning if they must have a place in the future and contribute to the development of the country.

She stated this when she inaugurated the Airtel Reading for Leading Campaign, a campaign which is aimed at helping underprivileged children in public primary schools, providing them with access to relevant, high-quality text books.

The ceremony held at the Airtel corporate headquarters in Lagos, was attended by pupils of Airtel’s pilot adopted school, Oremeji Primary School 2, Ajegunle in Lagos.

Speaking at the event, Chimamanda encouraged the children to develop love for and interest in reading, noting that reading would make them better, more grounded and improve their vocabulary as well as oratorical skills.

The award-winning writer particularly advised the kids to read story books and other fictional literature, saying prose and imaginative narrative play pivotal role in building, nurturing and developing young minds.

Chimamanda, author of Americanah, Purple Hibiscus, Half of a Yellow Sun and the Thing Around Your Neck, also commended Airtel for supporting primary

education and for creating solid educational opportunities for underprivileged children.

Also speaking at the event, the Chief Executive Officer and Managing Director, Airtel Nigeria, Segun Ogunsanya, who was represented by the company’s Human Resources Director, Gbemiga Owolabi, noted that Airtel is not just passionate about education, “we are also intensely interested in helping children – especially underprivileged kids – to succeed, actualise their dreams and become the true leaders of tomorrow.”

According to him, “Airtel’s love for and concern for underprivileged children is unarguably the critical ingredient that has spurred us to initiate the ‘Reading for Leading’ campaign initiative.

With this project, we intend to provide over 3,000 relevant books to children across our six adopted schools.

“In implementing this glorious initiative, my colleagues, across our regional offices in Nigeria, will come out en masse to purchase and endorse these books, read to the children, teach and mentor them, and ultimately spend quality time with our adopted pupils.”

The Airtel Reading for Leading campaign is aimed at promoting good reading culture among children living in rural communities starting with the 3,000 children across Airtel’s six adopted schools in Nigeria.

Earlier, the lead counsel to the 1st defendant, Chris Uche (SAN), had urged the court for a short adjournment on the grounds that he needed time to meet with his client to prepare for his defence.

In a bench ruling, the trial judge, Justice Dimgba, agreed with the prosecution that trial should commence since the defence had sufficient time to prepare their defence.

Meanwhile, the trial of a

former Chief of Defence Staff (CDS), Air Chief Marshal Alex S. Badeh, continued yesterday before Justice Okon Abang of the Federal High Court sitting in Maitama, Abuja with the prosecution witness, Mustapha Yerima, further stating how he was pressured by the defendants to claim the property allegedly acquired with the proceeds of crime.

Badeh is standing trial alongside

Iyalikam Nigeria Limited for allegedly abusing his office as CDS by using the dollar equivalent of the sum of N1.4billion removed from the accounts of the Nigerian Air Force to purchase properties in choice areas of Abuja between January and December, 2013 an offence which contravenes Section 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3)

of the same Act. At the resumed hearing, Yerima, who had earlier testified as PW4, further testified to the effect that, Air Commodore Salisu Abdullahi Yushau (rtd) had invited him over to the Defence House, after his (Yushau’s) retirement to coordinate the handover of documents and discuss progress of construction of the plaza, then ongoing.

HOW IS THE STOCK MARKET DOING?

President Muhammadu Buhari and the Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr. Oscar N. Onyema, after breaking the Ramadan fast with the president at the Presidential Villa....Monday GODWIN OMOIGUI

PRNigeria Emerges Finalist FIRS Shuts Costain W/Africa, of PR Golden World Award Others over Tax Debt The International Public Relations Association (IPRA) with headquarters in London, United Kingdom, has shortlisted PRNigeria’s campaigns for Nigeria’s military and security among the finalists for the Golden World Awards (GWA).

The Golden World Awards are the world’s most prestigious PR awards.

In a congratulatory message to Publishers of PRNigeria, the IPRA Member Services Manager, Janice Hill, wrote thus: “Congratulations, you are a Golden World Awards Finalist for your entry: Managing Security Information on War on Terror in Nigeria in the Crisis management Agency category.”

She said the first round of judging was completed as a number of entries have been put through as finalists for the next round of in-person judging next month in Brussels.

Through its parent body, Image Merchants Promotion, PRNigeria has been actively engaged in changing the media narratives from Boko Haram propaganda to PR approach strategies of security agencies in Nigeria. It has also remained the major source of official information from military, security, intelligence and response agencies.

Through the establishment of Forum of Spokespersons of Security and Response Agencies (FOSSRA) and subsequent Centre for Crisis Communication (CCC), PRNigeria ensures the sustenance of mutual relationship between the media and security agencies for improved quality of timely and responsible reporting on counter-terrorism and security consciousness campaigns.

As the operator of most popular Press Release platform in Nigeria, PRNigeria has over 300 top media executives in its unique mailing list and has issued over 2,000 press releases on behalf of its clients since its inception in 2013.

Speaking on the awards, the IPRA’s President, Bart de Vries, stated: “We have seen some great entries in 2016.

There was an excellent spread of geographies with a record number of entries from Russia as well as from countries we have not seen entering previously.

Community relations, Consumer PR Event management and public sector proved especially popular this year.”

IPRA is the leading global network for public relations professionals. It aims to further the development of open communication and the ethical practice of public relations.

Ugo Aliogo

In continuation of its efforts to recover unpaid taxes, the Federal Inland Revenue Service (FIRS), yesterday sealed the offices of Costain West Africa Plc, First Deepwater Discovery Limited, CAT Construction Group Limited and OPI International Limited, all in Lagos.

Costain West Africa Plc is believed to be owing N2billion in Company Income Tax, Value Added Tax and other taxes.

A statement by the leader of the FIRS enforcement team, Anita Erinne, said First Deepwater Discovery Limited, located at 20, Ogunlana Drive, Surulere, has tax liabilities of N230million, made up of withholding tax, education tax and value added tax. CAT Construction Group Limited, located at 20C Ogunlewe Street, off Ligali Ayorinde Street, Victoria Island, owes N176million in taxes According to her, OPI International Limited, located at UBA House, Marina, owes N3 million in company income tax and VAT. A top management staff of OPI reportedly pleaded with the enforcement team to grant the company an extension of the grace period for the resolution of its tax liabilities.

However, Anita Erinne, leader

of the FIRS enforcement team, ignored pleas and ordered the office sealed after she had ordered the staff out of the office.

“I have to carry out the directive as I have been directed,” said Erinne.

The FIRS team arrived Costain West Africa Plc’s office, located at 174 Funso Williams Avenue, off ApapaOshodi Expressway at about 1p.m.

About half an hour later, the company was sealed.

A top official of the company told the team that the company’s chairman was not available to attend to the team.

The official also claimed the company has already started discussions with the FIRS on how to defray its tax liabilities, but Erinne said she was unaware of it.

In Onitsha, Anambra State, the FIRS team shut down four business premises.

At the Building Materials International Market, Ogbunike, the team closed down the offices of Shoelz International Limited over a tax debt of N32million.

Also affected by the enforcement exercise was Midfield West Africa Limited, which defaulted on a tax obligation of N11million.

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IG Writes Presidency, Allegedly Recommends Retirement of Senior Officers Chiemelie Ezeobi There are indications that the acting Inspector General of Police (IG), Ibrahim Idris, has written to the presidency to retire some senior officers.

THISDAY gathered that the reason Idris gave for the alleged letter of retirement of the officers was that he cannot work with them.

The officers, who are of the rank of Assistant Inspector Generals (AIG) of police, were said to have been penned down for immediate retirement.

It was gathered that the IG said he wants to take charge of the police, arguing that even though they are all coursemates, they are said to be his senior in terms of promotion.

Already, some of the attempts

US Cautions against Militancy in Niger Delta The outgoing Deputy ConsulGeneral of the United States in Lagos, Ms. Dehab Ghebreab, yesterday advised Niger Delta youths to desist from every form of militancy.

Ghebreab told journalists in Lagos that it was imperative for the militants to channel their grievances to the government, rather than engaging in the destruction of facilities.

“Youths in the Niger Delta should not resort to violence because violence is really destructive.

“They need to know that violence or militancy does not only affect people living in their region, but may also affect other countries.

“They should know that foreign companies are also doing businesses in Nigeria and that some may just want to come to Nigeria, but would only be ready to invest in places where their businesses will be safe,’’ she said.

Ghebreab, according to the News Agency of Nigeria (NAN), noted the federal government’s ongoing efforts at ensuring peace in the region, enjoining the government to redouble its efforts at making the planned dialogue with the militants

a reality.

The US official said that through dialogue, the Nigerian government would be able to come to terms with the militants’ grievances, and see to the possibility of addressing their needs and aspirations.

“We strongly believe that it is important that Niger Delta youths engage in meaningful dialogue with the government, for government to know their grievances.

“During this dialogue, it would become easier for the government to know what the issues really are and be able to solve them,’’ she said.

The deputy consul-general also said that it was imperative for the various levels of governance in the Niger Delta to be proactive in the management of the militants’ grievances.

Ghebreab restated the US government’s commitment to supporting Nigeria in coming up with programmes that would constructively engage Nigerian youths.

She said her government had been supporting the federal, state and local governments in the empowerment of the Niger Delta youths.

made by some AIGs to meet and greet him was said to have proven abortive as they were allegedly rebuffed.

A source who spoke to THISDAY said: “There is serious tension at the Police Headquarters in Abuja. We have heard that the acting IG wants to retire both his seniors and coursemates.

“On Friday, he wrote to the presidency, through the Chief of Staff, Abba Kyari, and it was approved and forwarded to the desk of the President for final approval.

“According to what Idris wrote, the reason why he asked for their retirement is that he cannot work with them. He said he wants to in all sense of the world take charge of the police.

“He said since he has

been given the responsibility to provide security, it was imperative that these AIGs be removed because they might be a clog in his wheel of progress.

“With this move, there is a tendency to make 14 Commissioners of Police AIGs since the available and compulsory vacancy for AIGs is 26.

“Before now, 12 AIGs were promoted. From the 12, they will take seven of them to become Deputy Inspector General (DIGs) of Police and then they will be forced to go to the CP rank to fill up the AIG rank of 26.

“We wonder why they are removing experienced hands that would have helped him steer the police to greater heights.

“These officers that will be retired, are the last set of senior policemen that were trained

abroad, or have gone for short courses.

“I don’t know why we are wasting manpower. By removing these old hands, we will have to expend huge amount of money to train the new crop of AIGs and CPs.” But another senior officer who spoke on account of anonymity, defended the actions of the IG, noting that it would give room for the ranks to move up.

He said: “They will likely go. He (the IG) was second to last before his elevation.

Force tradition demands that his seniors retire voluntarily or asked to go if they refuse.

“What we heard was that they don’t want to retire voluntarily and that’s why they have been seeking audience with the IG, which he refused to grant.

“It’s long standing rule and they all know it. For the sake of discipline they are to retire.

This is because loyalty to one’s junior is always difficult in the Force and life generally.

“Although some are of those penciled down for retirement are his seniors, some others are not.

What matters is his last place on seniority before his elevation.

“Those he was giving compliments to (in terms of salutation) will feel very reluctant to give him now. So to avoid acrimony, they are meant to go and that is what he is trying to avoid now.”

Attempts to confirm the alleged retirement plan with the newly appointed Force spokesperson, Don Awunah, proved abortive as the mail to him got no response as at press time.

ADR CONFERENCE PARTICIPANTS

L-R: Barrister, Essex Court Chambers, London, Mr. Roderick Cordara; Chairman, Arbitration and ADR Committee, ICC Nigeria, Prof.Gabriel Niger Gov’s Wife to Foot Olawoyin; Chief Executive of Ghana Shippers’ Authority, Mr. Kofi Mbiah, and Principal Counsel, Jean Chiazor & Co. (Ofianyi Chambers), Mrs. Jean Chiazor Anishere, at the first ICC Africa Regional Arbitration conference held in Lagos...recently Medical Bill of Bay Boy Whose Genitalia was Cut off Court Admits Recording of Synagogue Building Collapse as Laleye Dipo in Minna attention so that he can recover Evidence quickly.”

Wife of the Governor of Niger State, Dr. Amina Abubakar Bello, has promised to foot the medical bill of the one-month-old boy whose genitals were cut off by his step-mother in Kuta town, Niger State last weekend.

One-month-old Buhari now at the IBB Specialist Hospital would require three stages of surgery for him to recover his private part sliced off by Bara Ato Rabiu the junior wife of his father, Mohammed Rabiu.

The governor’s wife who made the pledge in a statement made available to journalists in Minna yesterday also said she would ensure the boy received the best medical treatment ‘possible so that he can recover quickly ‘.

The statement signed by her Press Secretary, Aisha Wakaso, the governors wife declared that “the necessary machinery has been put in place to ensure the boy received the best medical

Mrs. Bello condemned the chopping off of the genitals of the boy by his step mother, describing the act as “horrendous and the height of wickedness.”

The governor’s wife said it was “heartbreaking to see an innocent boy go through such a near death experience,” saying that “Tt was however satisfying that the boy was still alive and assured that everything would be done to bring the perpetrator of the dastardly act to justice.”

She appealed to members of the public to “always exercise restraint when they are angry, so that innocent children or even adults don’t become unfortunate victims of unwarranted violence.”

In the meantime the Niger State chapter of the Federation of Female Lawyers Association FIDA has also pledged to support the medical treatment of Buhari Rabiu.

Akinwale Akintunde The footage of the collapsed six-storey guesthouse owned by Synagogue Church of All Nations (SCOAN) was played in the courtroom yesterday at the resumed trial of the Trustees of SCOAN and the two engineers involved in the construction of the collapsed guesthouse.

The video clip, which admissibility was seriously opposed by the defence team on Monday, was played after Justice Lateef Lawal-Akapo in a ruling ordered that the footage be admitted as evidence.

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 arraigned by the Lagos State Government on 111-count charge for their involvement in the collapsed building, which led to the death of 116 persons, mostly South Africans on September 12, 2014.

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

The prosecution led by Mrs. Idowu Alakija, the Lagos State Director of Public Prosecution (DPP) had sought to tender the CD purportedly containing a Close Circuit Television (CCTV) recording of an aircraft hovering above the building moments

before its collapse, through the second prosecution witness, Mr. Oluwatoyin Ayinde, a former Lagos State Commissioner of Physical Planning and Urban Development.

The defence led by Chief E.L Akpofure had objected to the footage being admitted as evidence because it was computer generated, irrelevant and a copy of the original.

Akpofure had also noted that the prosecution witness in his evidence had said he could not identify the contents of the compact disc (CD) containing the footage “until he watches the CD to ascertain its contents.”

However, Justice LawalAkapo dismissed the objection of the defence for lack of merit.

“I find no merit in

the objections, they are overruled, the video clip and accompanying documents are admitted in evidence,” he said.

The judge said the prerogative of a court in admitting a document into evidence was its relevance.

“For a document to be tendered in evidence, the guiding principle is relevance and not custody, the questions to be asked is whether the document is needed and admissible in law the judge ruled.”

During the crossexamination of Ayinde

by Akpofure, the former commissioner told the court that he visited the site of the building collapse twice.

Justice Lawal-Akapo, adjourned the case to 10, 11 and 12 October for continuation of trial.

WEDNESDAY JUNE 29, 2016 • T H I S D AY

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CRIME&PUNISHMENT Wike Decries Politicisation of a Murder Case against APC Chieftain

Ernest Chinwo in Port Harcourt Rivers State Governor, Nyesom Wike, has described as worrisome, a deliberate ploy to politicise the judiciary for the purpose of hearing a bail application of a chieftain of the All Progressives Congress (APC), who was charged for murder during the March 19, 2016 rerun elections in the state.

The governor reiterated his confidence in the judiciary to live above the political games being played by the agents of APC. Speaking at the Government House, Port Harcourt yesterday during the submission of report by the Justice Monima Danagogo Judicial Commission of Inquiry into the killings and other violent acts/ related matters that occurred during the March 19, 2016 rerun elections in Rivers State, Wike decried the setting up of a special panel by the Court of

Appeal basically to consider an appeal of an APC chieftain standing trial for murder.

The governor stated that he was shocked to read in national newspapers about the unprecedented action by the Court of Appeal, pointing out that the action was detrimental to the rule of law and the maintenance of the law and order in the state.

He regretted that the APC through her agents have politicised crime. He noted that the immediate past Commissioner of Police in the state was queried and transferred because he charged the notorious APC chieftain to court for murder.

He said: “I just read in the papers today that they have set up a special panel to hear bail application for a murder case.

“We have had criminal matters in court for years, but for a murder case now, Rivers State has become a state where crime is committed and it is being politicised.

“See how politics has entered into crime. Where you belong to, matters. If you belong to a particular political party, a special panel will be set up for you. They believe that the person involved is an APC member from a local government where a rerun will take place.”

Speaking further, the governor said: “This is not funny. Then you ask yourself, if that happens, what are you telling the bereaved.

Are you not telling them to do whatever they can to see that they get justice from wherever.

“We were concerned about the last rerun elections and we set up a Judicial Commission of Inquiry to look into it to know what happened. Assuming that recommendations have been made for their prosecutions, they will take measures to frustrate such prosecutions.”

He said he has the political will to implement the recommendations of the Judicial Commission

of Inquiry.

Earlier in his remarks, Justice Monima Danagogo, stated that the committee said the report is in four volumes for the implementation of the state government.

Wike also raised the alarm that there was a grand conspiracy to pull down the state, wondering who would benefit from the ugly plot.

Addressing the leaders of Petroleum Technology Association of Nigeria (PETAN) at the Government House, Port Harcourt yesterday, the governor said those plotting against the state will fail as he will confront them with the People’s Mandate.

He said those who are working against the interest of the state in the name of politics, must remember that the state was critical to the development of the nation.

The governor noted that he would always work for the unity and progress of the country as a patriot, despite the distractions.

In Brief

Court Sentences Carpenter to Death by Hanging Justice Oluwatoyin Ipaye of an Ikeja High Court, yesterday, sentenced a bricklayer, Femi Adebowale, to death by hanging for conspiracy and armed robbery. The judge found the convict guilty of the four counts preferred against him by the Lagos State Government. Delivering judgment, Justice Ipaye said in accordance with Section 295(2) of the Criminal Law of Lagos State, the minimum penalty provided by the law was death sentence for each of the four offences for which the convict was charged. “In accordance with the provision of the law, you are hereby sentenced to death by hanging by the neck until death.

May the Lord have mercy on us,” she said. The convict was accused of robbing one Alhaja Amudalat Olowo-Eyo of gold jewelries valued over N500,000.00, cash of N350,000.00 and other valuable documents at gun point. Mr. Akin George, the prosecutor had told the court that Adebowale with others at large, robbed their victims on December 28, 2012 between 1.00 a.m and 2.00 am at their residence, 10, Aiyetolu street, Abule Egba, Lagos.

The convict was arraigned last year and pleaded not guilty to the four-count charge. The complainant, Alhaja Olowo-Eyo had during trial narrated how the convict and others at large robbed her at her residence. According to her, the convict and his gangs had threatened to waste her and other member of her family if they refused to cooperate with them the night of the incident.

She said she identified the convict as being among bricklayers brought in by her landlord for the renovation of the house two days before the incident. She said after robbing them, her husband was able to pin one of the robbers down, a situation that gave her courage to also hold on to another robber next to her.

Court Remands Man in Prison for Alleged Armed Robbery An Ile-Ife Magistrate’s Court in Osun State yesterday ordered

the remand of a 32-year-old Rafiu Salami in prison for alleged armed robbery. The police prosecutor, Sunday Osanyintuyi, told the court that the accused person committed the offence on May 29, 2016 at about 2p.m. at London Street, Ile-Ife. Osanyintuyi said the accused conspired among themselves to commit the crime and while armed with dangerous weapons like cutlasses, knives and broken bottles. He added that they robbed Silifat Adeinka, Rasheed Ajibade, Titilayo Sulaimon and Abiola Olatundun of N345,110 with other valuables. The accused is facing a five-count charge of conspiracy and armed robbery preferred against him.

Though the accused was represented by his counsel, Babawale Omodogbe, he pleaded not guilty. The charged sheet stated further that the offences committed were contrary to section 6 (b) and punishable under sections 1 (1), (2), (a), (b) of the Robbery and Firearms (Special Provisions) Act, Cap R11, Vol 14, Laws of Federation, 2004. The presiding magistrate, Dorcas Ajiboye, said her court lacked the jurisdiction to hear the case and asked that the case file be taken to the Office of the Directorate of Public Prosecutions (DPP) for legal advice. Ajiboye remanded the accused in Ile-Ife Prisons, pending legal advice from the office of the DPP. The case was therefore adjourned to July 7, 2016.

Gunmen Kill Four in Kaduna Bandits on Monday night invaded Gurguzu village, close to

TIME TO FACE THE LAW

Suspected kidnappers being taken to court by the police in Kaduna....yesterday

DRIS EGAJI

Blasphemy Killing: Kano Magistrate’s Court Rejects Bail Application for Accused Persons Ibrahim Shuaibu in Kano A Kano Chief Magistrate Court sitting in Kano yesterday turned down the bail request for five suspects accused of killing a 74-year-old trader, Mrs Bridget Agbahime, on June 2, 2016 at the popular Kofar Wambai Market in the commercial city of Kano.

When the case came up for hearing yesterday, counsel for the defendants, Gambo Abdulsalam, argued that the court had jurisdiction to entertain the case on the grounds

of determining the murder case against the five accused persons, namely, Ahmed Dauda; Abdullahi Mustapha; Zubairu Abubakar; Abdullahi Abubakar and Musa Abdulllahi.

After citing numerous authorities to buttress his argument, Gambo pleaded with the court to either remand or to release the five accused persons on bail, depending on the jurisdiction of the court.

He said: “This is simply an allegation and it is not sufficient to hold onto somebody, It amounts

to nothing but just an information.”

Furthermore, he argued that in making judicial decision, sentiments has no place in court, stressing that it is a matter of hard facts and law.

In his response, the police counsel to the plaintiff, Ekwe Sunday, vehemently opposed the bail application of the defence counsel, arguing that the case is an established capital offence, which investigation had already been completed, hence the arraignment of the accused persons in court.

Also, Sunday argued that

the accused persons should not be the granted bail, arguing that the offence was not only capital in nature but a grievous and as such, the court should not grant the accused persons bail.

After hearing the arguments of both counsel, Chief Magistrate Mohammed Jibrin, therefore adjourned hearing to July 20, 2016, while the accused persons were remanded in prison custody.

The five accused persons were arraigned for allegedly killing a female trader at Kofar Wambai market on June 2, 2016.

Maguzawa, a suburb of Rigasa, Igabi Local Government Area of Kaduna State, killing four people, while six others were injured.

For fear of the unknown, about 500 of the villagers were said to have fled their homes to Rigasa where they took refuge in a primary school following the attack. The Chairman, Interim Management Committee, Igabi Local Government, Jabir Khamis, who confirmed the incident, said many of the villagers who fled their homes were being taken care of at a primary school in Rigasa. Four of the villagers were reportedly killed on the spot while four others sustained injuries from gunshots and were later rushed to the hospital. Meanwhile, the state government has asked the citizens to remain calm and go about their lawful businesses, as security agencies have launched a manhunt on the killers. Briefing journalists after the state security council meeting, Assistant Commissioner of Police, Ahmed Tijjani Abdullahi, said: “Around 5:50p.m. yesterday (Monday), the gunmen invaded the village on motorbike and killed a farmer and three other co-farmers.

Troops Raid Armed Bandits, Rustlers’ Camp in Zamfara The Nigerian Army has in its ongoing efforts to rid the Northwest zone of the menace of cattle rustling, armed banditry and other criminal activities such as kidnapping, raided the notorious bandits and cattle rustlers camps in Rikwa Local Government Area of the state. The Director of Army Public Relations (DAPR), Col. Sani Usman, in a statement yesterday, said the troops of 223 Battalion deployed at Bena, raided and destroyed suspected cattle rustlers and armed bandits camps in Zamfara State. “The raided camps were located at a forest in Rikwa village, Maru Local Government Area of Zamfara State,” Usman stated. He said the troops recovered three local made pistols, two Dane guns, four AK-47 magazines and 97 rounds of 7.62mm (Special) ammunition.

He disclosed that the troops also recovered some 582 stolen animals including 147 cows, 432 sheep, two goats and a camel.

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wednesdAY, june 29, 2016 • T H I S D AY

WEDNESDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com

Sports Ministry Protests Visa Denial to U-17 Female B’ball Team Tobi Soniyi in Abuja Ministry of Sports has protested the denial of visa by the Spanish Embassy to the nation’s Under-17 Female Basketball Team scheduled for an international competition in Spain.

Speaking with newsmen after a meeting with President Muhammadu Buhari yesterday, Sports Minister, Solomon Dalung, said the grounds upon which the athletes were denied visas were untenable.

He said “Our under 17 female basket ball team qualified in Madagascar for the Spain event but sadly after fulfilling all righteousness of visa requirements, even extra ordinary conditions were introduced by Spain, our federation met all but in the dying minute they were denied visa.

“Before I came to the State House, I was in the Ministry of Foreign Affairs to officially protest the treatment metted to Nigeria. I must really investigate more because the reasons given by the Embassy of Spain is that one, the letter signed requesting for visa was signed by a dead person. I had to in my office today invite the author of the letter to come to my office and he is a living person.

“The second reason was that the lists sent was padded and that there was an attempt to smuggle some people and traffic them across the border. The lists that was brought to me today which I still have here is not

up to 18 and these were the people that went to Madagascar for competition and there was nothing like padding in it.

“The last reason was that it was out of time or it was brought in short notice. This one too did not stand the test of the investigation I did. This is why we have protested officially to the embassy and I have written the international federation the treatment they gave to us.

“I guess it will not take too long we still insist on getting visa from Spain for our athletes to go and participate because if we allow this to go on then we are opening the gate for other countries to use this technique of disqualifying Nigeria when they feel we are going to be a threat in any international participation.”

Dalung also explained why the nation’s football teams coached by indigenous coaches failed at international competitions.

According to him, “there is one aspect of this indigenous coaching that has been responsible for the poor performance of football in Nigeria which Nigerians need to know.

“They have not been able to grow above their parochial sentiments. An example is that a coach will train a team, the team will qualify to go to the next stage.

Once it becomes international they will now submit a different list of people; not the entire people who qualified.

“This already has violated what is referred to as team spirit in

CA F C H A M P I O N S L E AG U E

Enyimba Guns for Three Points against Sundowns in Pretoria Nigeria champions, Enyimba FC will go all out for its first points of the group stage of this year’s CAF Champions League when the Peoples Elephant confront Mamelodi Sundowns of South Africa in Pretoria this afternoon.

A lone goal defeat to Zamalek of Egypt on a soggy pitch in Port Harcourt ruined the People’s Elephants’ opener to the campaign, but club boss Felix Anyansi-Agwu is optimistic his wards can secure an away win over ‘The Brazilians’ at the Luis Moripe Stadium on Wednesday evening.

“We lost the first match of the group stage at home but we have put that behind us and we have great motivation going into this match. The boys know that nothing less than an outright win will do and they will go all out for it.

“We have tremendous experience at this level and we will approach the game with confidence in our ability to take the maximum three points,” Anyansi-Agwu said.

The South African champions thought they had picked up three valuable points from a 2-0 victory

over Entente Setif of Algeria on Matchday 1 only to see the advantage wiped off following the expulsion of the Algerians from the competition for crowd trouble.

Enyimba forward Mfon Udoh is the competition’s leading scorer with seven goals, and fancies his ability to come up with the goods at the 28,000 –capacity Luis Moripe arena.

“Against Zamalek, we did everything but just could not get the ball into the net. We will go all out against Sundowns and expect to pick three points.” The match begins at 7pm South Africa time (6pm Nigeria time).

Zamalek is on holiday as Setif have been expelled.

In Group A, leaders Wydad Casablanca and Zesco United of Zambia clash in the Moroccan city, while pointless Al Ahly of Egypt and ASEC Mimosas of Cote d’Ivoire do battle in Alexandria.

GROUP A Wydad Casablanca Vs Zesco United Al Ahly Vs ASEC Mimosas GROUP B Mamelodi Sundowns Vs Enyimba FC

football. A team that played is different from the one that is going. We have that crisis on our hands now,especially with the list of those who are going to Rio (Olympics).”

On the argument for the engagement of foreign coach for the Super Eagles, the minister

said he had reservations on the proposal.

He said though selection of coaches was being handled by the Technical Team, his ministry, he said owed a duty to guide it to get what was the best for the country.

He said: “The selection of

coach usually is handled by our technical team. We are a supervisory ministry; we have little to do with the process but we have a role in guiding what is best for Nigeria. I have always maintained that if we cannot pay indigenous coaches, we still owe them some months of salaries,

some of them have even died without those salaries, do we still go and look for foreign coach and will he be able to tolerate us without salaries for some time moreso that we may also be paying him in hard currency.

So, its a fundamental contradiction to swallow easily.”

National U-17 Female Basketball team that was denied participation at the FIBA event in Spain… recently

Ministry Slashes NFF Subvention to N60m to Cover Debt Olawale Ajimotokan in Abuja

allocation has been drastically pegged to N60 million, a 60 The Nigeria Football Federation percent cut of its monthly vote.

It is understood that the (NFF) is cringing under the full impact of the cut in its monthly shortfall is set aside at the end subvention by the Ministry of of every month to indemnify Sports to settle outstanding debt. creditors.

Sports Minister Solomon The Glass House is entitled to N150 million per month Dalung has directly been as grant for its recurrent and disbursing the allocation of NFF following the scrapping of football related activities.

But THISDAY checks revealed the National Sports Commission last night that in the past three (NSC).

THISDAY learnt that Dalung months, the federation ‘s

has adopted the First Line Charge approach by first debiting the NFF’s account to offset outstanding debts before remitting the balance.

Such is the size of NFF’s liability that it is on record that the national teams are indebted to hotel operators aside the backlog of unpaid salaries, allowances that are owed to coaches and players.

Recently, the National-U23 team was thrown out of its hotel

in Abuja because of failure of football officials to settle a N7 million debt.

It was to address the cash squeeze that informed the recent decision by NFF Technical Committee to place all national teams’ assistant coaches and technical staff on part-time employment only when there is a national assignment, a departure from the old order where they were appointed of full time arrangement.

Lagos Farewell Testimonial for Amodu, Keshi Holds July 23 Enakeno Edhowo The Lagos State Government in conjunction with the Sports Writers’ Association of Nigeria and the Nigeria Football Supporters Club, have set up a committee to oversee the Lagos Farewell Testimonial Match for the two departed former Super Eagles chief coaches, Amodu Shaibu and Stephen Keshi, which has been scheduled for the Teslim Balogun Stadium, Surulere on July 23, 2016.

The Chairman of the committee who is also the President-General of the Nigeria Football Supporters Club, Dr. Rafiu Ladipo, said the event which is meant to raise money for the families of the

departed coaches, would also celebrate the two illustrious sons of Nigeria.

The money raised would be added to whatever the two families get from other donations across the country.

“The Farewell Testimonial match would see the Super Eagles players battle against Lagos All Stars team in the main match of the day, while the curtain raiser would be a game between the Lagos SWAN team and the Supporters Club. This would be followed by Musical Concert where prominent Nigerian musicians and comedians would perform in the entertainment aspect of the programme. This aspect of the event is coordinated

by veteran music act, Chris Mba.” Ladipo noted that, the involvement of the Lagos State Sports Commission and the Lagos State Governor, Mr. Akinwunmi Ambode, will help boost the goal of the event which is basically fund raising.

The Coordinator of the event, Mr. Effiong Nyong, said yesterday at a media parley organised to announce the plans of the committee that: “Amodu and Keshi must be celebrated with a fanfare as they left solid footprints on the sands of time. It is sad that we won’t see the two indigenous coaches that qualified Nigeria for three editions of the World Cup out of the five the country competed in, again.

“We intend to celebrate Lagos as the state where these coaches were made. Keshi started from St. Finbarr’s College in Lagos and also played top international matches as a junior and senior at the National Stadium in Lagos, while for Amodu, as he achieved all the feats at the club and national team levels chose Lagos as his home.

“He left his family in Lagos to go to Abuja and Benin City to pursue owed monies before he met his death.”

Nyong hinted that the focus of the committee may extend to make the event annual, as the success of the July 23 event will go a long way in determining what happens next.

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T H I S D AY • WEDNESDAY, JUNE 29, 2016

WEDNESDAYSPORTS WIMBLEDON 2016

Williams, Murray Hit Next Round Defending champion Serena Williams reached the second round of Wimbledon with a 6-2 6-4 win over Switzerland’s Amra Sadikovic.

Top-seeded American Williams served five double faults and only four aces in 73 minutes against the world number 148.

The six-time champion, 34, has now won 80 and lost 10 matches at Wimbledon.

“It wasn’t tougher than I thought, but it was definitely tough,” she told BBC Sport.

“I never underestimate anyone.

I started fast, and that’s about it.

“This is me - I’m always shouting at myself, always pushing myself. It’s absolutely nothing different.

“It’s great to be back at Wimbledon. Mom was in the Royal Box and that was really nice.”

The world number one, regarded as one of the finest servers in history, achieved just a 60% success rate on her first serves.

But there was never any suggestion she would not go on to beat the Grand Slam debutant, securing victory with a successful challenge to set up a tie against compatriot Christina McHale.

McHale, who beat Daniela Hantuchova 7-5 6-2, has already lost twice to the 21-time Grand Slam champion in 2016.

Rain disrupted play on the second day, but under a closed roof on Centre Court former world number one Caroline Wozniacki lost 7-5 6-4 to world number 14 Svetlana Kuznetsova in one hour and 28 minutes.

“It was way too good a match for the first round,” the Russian told BBC Sport. “I think I did great, I’m happy with my performance.”

Kuznetsova will now play

Britain’s wildcard Tara Moore, who secured her first Grand Slam win with a 6-3 6-2 victory over Alison Van Uytvanck, becoming the fourth Briton to reach the second round.

Former finalist Eugenie Bouchard was leading Magdalena Rybarikova 6-3 2-1 while British number one Johanna Konta was 6-1 2-1 up against Monica Puig when rain stopped play.

Earlier yesterday,Andy Murray made short work of his first ever British opponent at Wimbledon as he swept past wildcard Liam Broady in the opening round.

Murray, seeded second, saw off the 22-year-old world number 235 from Stockport 6-2 6-3 6-4 on Centre Court.

It was the first all-British meeting at the All England Club since Tim Henman beat Martin Lee in 2001.

Murray, 29, goes on to face Yen-Hsun Lu of Chinese Taipei in the second round on Thursday.

The Scot needed just one hour and 43 minutes to end Broady’s Centre Court debut, the 2013 champion and world number two not surprisingly outclassing a player with just one tour-level win to his name.

Murray might have been playing a familiar face but he was in aggressive mood, dropping just six points on his first serve and winning 18 of 19 at the net.

Having gone 10 years without playing a fellow Briton, he has now beaten three this month following wins over Aljaz Bedene and Kyle Edmund at Queen’s Club.

“When we start the match we are both trying to win, but it does not make it any easier,” Murray told BBC Sport.

“Liam played better as the match went on and fought through to the end and played

Maradona Urges Messi to Drop Retirement Plan with Albiceleste Lionel Messi has been urged to reconsider his international retirement by Argentina legend Diego Maradona and the country’s president.

The forward, 29, quit after missing in a penalty shootout as Argentina were beaten by Chile in the Copa America - a fourth major final loss in nine years.

“Those saying he should quit don’t want us to see what a disaster Argentinean football has become,” Maradona told La Nacion newspaper.

Maradona, who captained Argentina to victory in the 1986 World Cup and managed the team at the 2010 World Cup, added: “Messi has to stay because he will reach the 2018 World Cup in Russia in conditions to become world champion.

“The lads have to be supported more to help him take the team forward.”

Messi said after Sunday’s defeat that for him, the national team was “over” and that “it hurts not to be a champion”.

According to AFP news agency, Argentine President Mauricio Macri called Messi to

tell him “how proud he feels of the national team’s performance and asked him not to listen to the criticism”.

Messi has won eight La Liga titles and four Champions Leagues with his club, Spanish side Barcelona.

But his only major international honour is Olympic gold at the 2008 Games.

Defeat on Sunday was the second time in two years Argentina have lost the Copa America final to Chile on penalties, while they were beaten 1-0 by Germany in the 2014 World Cup final.

Messi, who was been awarded the Ballon d’Or five times, was also on the losing side against Brazil in the 2007 Copa America final.

Argentina are already six games into their qualification campaign for the 2018 World Cup. They are third in the table, two points behind leaders Uruguay.

The top four teams progress to the finals in Russia, while the team finishing fifth qualifies for a two-legged play-off against the best team from Oceania.

Williams some good stuff.

“The crowd is always very fair here, getting behind both players and knowing what a good shot is. Liam got a good ovation when he left court and I’m sure he will have enjoyed that.”

Broady found himself having

to improvise as he chased down Murray from the baseline Murray, watched by recently returned coach Ivan Lendl at a Grand Slam for the first time in three years, began his 11th Wimbledon campaign with a comfortable win.

Broady, 22, had experienced the Murray game first-hand during practice sessions earlier this year but could not bridge the gulf in class once their first competitive meeting got under way.

Within five minutes he was a break of serve down, and

moments later he was literally playing a shot off his knees as Murray ran him ragged.

There was a sense of relief from the Centre Court crowd when Broady got on the scoreboard at 3-1 down but he could make no impression on the Murray serve.

Euro 2016 Failure has ‘Damaged’ England, Says Hodgson Former England manager Roy Hodgson ‘unhappy’ with England media call Roy Hodgson says England’s 2-1 loss to Iceland and exit from Euro 2016 will cause longer-term “damage” to the team.

And Football Association chief executive Martin Glenn said it is now “imperative” to find out why England are “brittle” at tournaments.

Hodgson, who resigned after Monday’s game, repeatedly questioned why he had to attend a news conference yesterday.

But he said: “One particularly bad game has caused a lot of damage to me personally and the team going forward.”

Hodgson, 68, added: “We have a major bridge to repair - had we played better last night that might not need repairing.”

England won just one of their four games at the tournament in France, qualifying second from their group behind Wales to reach the last 16, where they suffered the humiliating defeat

by a nation with a population of just 330,000.

Hodgson said there were no “magic answers” to explain England’s performance at the European Championship, where they also drew with Russia and Slovakia and beat Wales with a last-minute winner.

Glenn did not rule out appointing a foreign manager as Hodgson’s successor, adding: “We are looking for the best person, not necessarily the best Englishman.”

But he said the key thing to address was England’s regular failure, which has seen them reach only three semi-finals at a major tournament since they won the 1966 World Cup as hosts.

“We need to punch our weight in tournaments in a way that we have not done in 50 years,” added Glenn.

“When we get to the business end of a tournament, England seem brittle and we need to understand why that is.”

Hodgson read a statement to announce his resignation after

the Iceland game which he felt was “sufficient” - and four times during Tuesday’s news conference he said he should not need to face the media again.

“I am still a little bit unsure what I’m doing here,” said the former Fulham, West Brom and Liverpool boss. “ I suppose someone has to stand and take the slings and arrows.”

When BBC sports editor Dan Roan suggested Hodgson had been forced to attend, Hodgson replied: “I wasn’t forced to come. I was anxious to make certain no-one in this room can say I was worried to face the media.”

Hodgson faced heavy criticism following the goalless draw against Slovakia for making six changes to the side that had beaten Wales, despite knowing a victory would mean England topped the group.

He was also criticised for the tactic of having Tottenham striker Harry Kane take corners during the tournament and starting Manchester City forward Raheem Sterling against Iceland.

During yesterday’s news conference, England captain Wayne Rooney released a statement saying reports the players had lost faith in Hodgson are “completely untrue”.

When asked about the reports, Hodgson added: “If it was true, they disguised it very well from the players and coaching staff.”

Glenn described the dressing room as a scene of “devastation and personal grief” after the defeat at the Allianz Riviera in Nice.

He added: “Let’s scotch that one - it’s not about a lack of passion amongst our players.”

England scored only four goals in four matches at Euro 2016 and Hodgson felt his side were not “ruthless” enough in France.

He said: “We did not play well last night and I take full responsibility for that.

“We showed signs of good football in the first three games, which gave us confidence, but last night we didn’t reproduce.

“I’m disappointed. I didn’t see it coming. I had no indication that we were going to play that badly.”

Nigerians Scramble to Be Part of Olympic Day Run Nigerians from all walks of life would join their counterparts all over the world to celebrate the Olympic Day Run on July 2, 2016 in all the states of the federation.

The Olympic Day Run is an international Olympic Movement activity promoting mass participation of sports in June and organised by National Olympic Committees, NOCs. Head of Administration and Logistics of Nigeria Olympic Committee (NOC), Augustine Odijie, said yesterday that they have concluded plans

to mobilise Nigerians to participate in the Olympic Day with special events featuring jog/walk from the National Stadium to Shitta Round about, through Adeniran Ogunsanya Drive to Bode Thomas, through Eric Moore to Abebe Village to Costain Bus Stop and back to the National Stadium, Surulere, Lagos.

Just as Nigerians pour out to ensure the positive values of the Olympic Movement – Excellence, Friendship and Respect are promoted, Nigerians in all other states would be celebrating the Olympic Day

too in their states.

Former Olympian and Chairman of NOC Sports Commission, Henry Amike, who has been working tirelessly to encourage young and old alike to get involved in the Olympic Day for sport, cultural and educational activities said that they would also uphold the three pillars of Olympic Day which are Move, Learn and Discover. ‘’This time, we’re involving schools and their pupils knowing that tomorrow belongs to them. Starting from June 30 to July 2, art

exhibitions, paintings, drama will be staged by the students and their schools under the supervision of Sports For All Officials. It’s not something to miss. You know that sports is live’’, Amike a national 400m hurdles record holder said.

Amike emphasised that through these messages, sports organisations today are promoting the benefits of physical exercise, inspiring people to get active and enabling them to discover new sports while embracing the Olympic ideals regardless of ability or background.

Wednesday June 29, 2016

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Saraki to FG

“This latest onslaught on the legislature represents a clear and present danger to the democracy Nigerians fought hard to win and preserve. The suit filed on behalf of the federal government suggests that perhaps some forces in the Federal Republic have not fully embraced the fact that the Senate’s rules and procedures govern how the legislative body adjudicates and resolves its own disputes.”

Senate President Bukola Saraki accusing the federal government of using the apparatus of the state to ride roughshod over the Senate over its choice of leadership.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

Before Osun is Set on Fire

T

he reader is invited to take a close look at the two photographs on this page as we ponder the Hijab controversy in the State of Osun. One is that of a Catholic nun and the other is of a nun of the Eastern Orthodox Church. They are both Christians. Now, is there any remarkable difference between their mode of dressing and that of a Muslim female in Hijab? In fact, they are culturally similar.

This exercise could be useful in determining the direction to which the appeal for respect for the rights of others should be directed. The two photographs show the ladies appearing in what in the Middle East would be deemed decent dressing. The historical fact is that both Abrahamic faiths, Christianity and Islam, have Middle East origins. And the nexus between religion and culture is a strong one. Sometimes clerics of both faiths present cultural practices (often conditioned by geography) as religious obligations. This fact is often lost on many people of faith in Africa in contemporary times. For instance, as richly documented by some of our eminent historians, way back in the 19th and 20th Centuries, Christian converts in Nigeria, for example, were conscious of the interplay of forces of religion and culture. Hence they came up with churches with distinctive flavours of African culture. Not any more. For some Christians today, embrace of African culture could sometimes be sinful! Similarly, Arabic cultural preferences are sometimes presented as strict Islamic obligations.

If either of the nuns in the photographs were in the same room with a Muslim female in her Hijab, it would be strange if one feels odd about the mode of dressing of the other. After all, the cultural origin of the way they both dress could be traced to the same place. For peaceful co-existence, there should be mutual respect of views between the Osun Christian and Muslim leaders. It is particularly worrisome that this crisis is brewing in communities where people of different faiths had lived harmoniously for ages. Some of the

Hijab sisters parents, who now put on their wards all manners of apparels to dramatise the dispute, wore school uniform dutifully when they attended schools founded by either Christian missions or Muslim organisations not long ago in this country. The controversy on how parents prepare their children for school is dangerous for the future. Yet it is avoidable. For the purpose of standard, it is the place of the school authorities to have the rule against indecent dressing by students. That is why there are school uniforms.

For those who insist on crucifying Governor Rauf Aregbesola, the fact of the case should not be buried in the rubbles of the needless controversy.

The governor has repeatedly said he never ordered the use of Hijab. And that is the truth. It is unfortunate that Aregbesola’s critics are taking advantage of the economic difficulties faced by his government in alleging that the governor is diverting attention from the material situation with the Hijab dispute. You could pillory Aregbesola for not paying workers’ salaries; but it would

be uncharitable to call him a religious bigot. At least there is nothing that Aregbesola, a Muslim by right, has done on this Hijab thing that could justify the allegation of religious extremism. His government has consciously demonstrated respect for Christian, Muslim and traditional religions without making any of them the official religion.

His recognition of the faiths in public functions is sometimes done to a fault.

The Muslim parents have a court judgment in support of putting Hijab on their children going to school. The Christian community in Osun is kicking against the verdict. Rather than set Osun on a religious inferno, the Christian and Muslim parents could elect to exhaust the judicial process on the matter.

All told, the religious rights of every group

should be respected. This is a sine qua non in a multi-religious society such as Nigeria. The constitution clearly forbids the state from adopting any official religion.

However, the point at issue is that the basic error in the whole controversy is presenting Hijab as a strict religious symbol. First, the Christians are wrong in making a religious hue and cry out of the issue. The Christian nuns dress in a similar to Muslim ladies putting on Hijab. Secondly, the Muslims are also wrong to project it as a religious symbol. Given the cultural origins of that mode of dress in the Middle East, there is nothing exclusively Islamic about it. Thirdly, the Osun State High Court has not helped matters in pronouncing Hijab as “a human right” for students while in public schools where students are expected by rule to wear uniforms. Can Muslim women on duty in the armed forces and the police, for instance, invoke their “fundamental human rights” to wear Hijab? A female police officer, who is a Muslim, cannot invoke her fundamental human rights not conform with the discipline of an institution of which she voluntarily elected to be a member. Public institutions are entitled to have their codes of conduct which whoever chooses to be a part should obey at all times.

Schools are no exception to this rule. Every student should wear the school uniform as a matter of discipline. All the sides to the dispute should be wary of prejudice as they pursue what they deem to be their religious rights.

The lesson in the foregoing is that adherents of religions as well as those who practise no religion at all should seek deeper knowledge of issues to avoid a religious crisis. Thank God, Islam, Christianity and traditional religions emphasise endless seeking of knowledge in their teachings.

The Point Ngige is Making Lanre Bakare

I

find Kayode Komolafe’s column on “True Federalism as Panacea” in the THISDAY of June 22, 2016 apt and insightful. And I hope the members of political elite who control the lever of power will see reason and be more patriotic in their pursuit of selfish interests.

However, the THISDAY editorial of Monday, June 20, 2016 on “Ngige And Pressure on Banks” is rather offensive. The editorial has a wrong view of the economy especially the role of government in a free- market economy. The editorial wanted the banks to continue to personalise gains and democratise losses. During periods of economic upheavals, banks often require government to help deal with their toxic assets to provide them soft-landing. In responding to the request of the labour minister, Dr. Chris Ngige, that banks should halt retrenchment, the editorial says banks aren’t charities. But government could be charitable with our collective wealth to ensure their sustainability and going concerns. What an argument!

If a government could utilise public funds to

R I G H T O F R E P LY rescue banks by floating AMCON I don’t think that an appeal for calm by a labour minister in the on-going retrenchment exercise is too much a favour to ask for in view of the challenging economic environment.

I expected Dr. Ngige to be commended by the editorial for taking on the politically entrenched financial establishment on their roles in the economy and nation building. Newspapers I am told should be a platform for the voiceless and the underserved. That editorial is a manifestation of the dominant view of the Nigerian economic crisis and a pat on the back of those who have held the nation’s hostage. At conferences and seminars, experts lament the non-inclusiveness of Nigerian economic growth over the years.

But how can we achieve inclusiveness with this type of editorial campaign? The editorial wanted the government to continue to play the ostrich instead of asking all the players in the economic space to rise up to the challenge!

• Mr. Bakare, a Chartered Accountant & Investment Banker, sent this piece from Lagos.

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