Monday 18th July 2016

Access Bank Wins Karlsruhe Sustainability Award Obinna Chima

T H I S D AY S P E C I A L R E L E A S E

Barely a week after winning the 2016 Euromoney Best Bank Transformation Award in London, Access Bank Plc has just received the award for the Outstanding Business

Sustainability at the 2016 Karlsruhe Sustainable Finance awards in Germany.

The award recognises the bank’s outstanding success in incorporating economic, social

and environmental aspects into its corporate strategy and business processes.

A statement by the bank’s management at the weekend said the prestigious award was

conferred on Access Bank, making it the first African financial institution to win the award in recognition of its ability to holistically embed sustainability across the financial institution.

The award was presented

to the Bank in Karlsruhe, Germany’s most sustainable city, at an award ceremony attended by global CEOs, senior executives of winning institutions and top German government officials.

Speaking at the presentation

ceremony, Herbert Wigwe, Group Managing Director/ CEO of the bank, said: “Winning the Outstanding Business Sustainability Achievement award is a Continued on page 10

FG, Integrated Energy Agree on $87.8m as Refund for Yola Disco...

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CBN Finally Frees the Naira, Funds Forward Contracts Obinna Chima

Following the pressure mounted by the financial markets and analysts on the Central Bank of Nigeria (CBN) to allow the naira to be truly market determined so as to attract offshore investors who have continued to remain on the sidelines, the CBN has finally freed the nation’s currency so that its rate on

the Nigeria Interbank Foreign Exchange (NIFEX) will be determined by the interplay of demand and supply.

The central bank will equally fund the one-month forward contracts of $697 million this week, meaning that authorised dealers that bid on behalf of their customers for the contracts last month would

Continued on page 10

NJC Sacks Osun Judge for Writing Petition against Aregbesola Justice Yunusa also kicked out

Tobi Soniyi in Abuja

For daring to write a petition against the Osun State Governor, Rauf Aregbesola, Justice Olamide Folahanmi Oloyede of the High Court in the state has been recommended for compulsory retirement by the National Judicial Council (NJC).

The council also stated that Justice Mohammed Nasiru Yunusa of the Federal High

Court, Lagos Division, has been kicked out of the bench for alleged misconduct.

The council said pending the time President Muhammadu Buhari and Aregbesola confirm the compulsory retirement, the NJC, in the exercise of its disciplinary powers under the constitution has suspended the two judges.

A statement issued yesterday Continued on page 11

MEND Writes Buhari, Names Diette-Spiff, Tomplolo, Others in Dialogue Team... Page 12

CONDOLENCES CONTINUE TO POUR IN FOR SHINKAFI

Former President Shehu Shagari (left) and former President Olusegun Obasanjo, when the latter visited Sokoto State yesterday to commiserate with its government and people over the passing of the former Director General of the National Security Organisation, the later Alhaji Umaru Shikafi

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FG, Integrated Energy Agree on $87.8m as Refund for Yola Disco

Chineme Okafor in Abuja

The federal government has renegotiated and reached an agreement with Integrated Energy and Distribution Marketing Company (IEDM) on a payout of $87.8 million as against the $186 million earlier approved as compensation to the company after it returned the Yola Electricity Distribution Company (YEDC) to the federal government in 2015, THISDAY has learnt.

Integrated Energy, a firm fronted by Mr. Tunde Ayeni, Capt. Osa Okunbor, and a former military head of state, Gen. Abudulsalami Abubakar, had acquired the Yola and Ibadan Discos for $228 million in 2013 under the privatisation programme.

A year later, however, Integrated Energy was forced to declare force majeure and returned Yola Disco to the federal government on the grounds that it was impossible to operate and access the assets of the electricity distribution firm in the North-east due to

the Boko Haram insurgency.

After a joint evaluation of the electricity asset, as provided under the terms of the share purchase agreement, the Bureau of Public Enterprises (BPE) and Ministry of Power, in the twilight of the Goodluck Jonathan administration, had approved $186 million as the sum to be refunded to Integrated Energy.

But the payment of the sum was stalled over concerns that the $186 million was too high, forcing the parties to the transaction to renegotiate the compensation to be paid to Integrated Energy.

The non-payment of the refund to Integrated Energy has been linked to some of the non-performing loans (NPLs) on the books of Skye Bank Plc, as the promoters of Integrated Energy had borrowed from the bank to acquire and inject capital into Yola and Ibadan Discos.

However, their inability to service the loan for Yola Disco was one of the factors that led to the erosion of Skye Bank’s

capital adequacy and liquidity ratios and ultimately the sack of its former chairman, Ayeni, and other directors of the bank by the Central Bank of Nigeria (CBN) penultimate week.

It was gathered from a reliable source, who was privy to the fresh negotiations yesterday in Abuja, that the Permanent Secretary in the Ministry of Power, Works and Housing, Mr. Louis Edozien, led the negotiations on the new payout terms which Integrated Energy’s principals have agreed to as full and final payment for their acquisition and investment in Yola Disco.

It was further learnt that the new payout was negotiated outside the original clause provided in the share purchase agreement that the government signed with Integrated Energy when it sold the power asset in 2013 and which allowed the investor to ask for compensation for its investment in power asset and had declared force majeure.

“Ten days ago, there were negotiations with the permanent secretary for power. The

government has negotiated with Integrated and it was $87.8 million they agreed with the company,” said the source.

Providing further details on the agreement, the source stated: “They have signed with the company already," adding that negotiations were outside the provision of the share purchase agreement the company signed with the government.

“The permanent secretary said the negotiation was outside the agreement, and that agreement included opportunity cost and everything that it provided for, but the government begged that the company should go outside the agreement.

“The company was supposed to be paid about $186 million which the former president, Goodluck Jonathan approved but it was not paid.

“If they had released 50 per cent down payment to the company’s bank at that time when the first payment was approved, the crisis Skye Bank has now might have been averted, because that would

have reduced its exposure to the power sector,” added the source.

He also stated that the BPE, which superintended the sale and subsequently recommended the payout to Integrated energy, was involved in the renewed negotiations and agreement.

“The BPE has signed but nobody knows when the payment will be paid. The vice-president and president would have to approve this. We don’t know how long that will take even though it is subject to their approval, but the company believes that the vice-president is a lawyer and understands the complexities of respecting the sanctity of contracts,” the source explained.

The BPE, had at the time Integrated Energy declared the force majeure, justified government’s approval of $186 million, saying it was upholding the sanctity of the contract it entered with the company.

According to the BPE, Integrated Energy, which was the core investor in the Yola

Disco, was entitled to the money which included 20 per cent of its five years projected profit.

It also said Integrated Energy's declaration of the force majeure on its operations in the four north-eastern states of Adamawa, Yobe, Borno and Taraba as a result of Boko Haram insurgency was catalogued in a process thus guaranteeing the payment.

It had stated then that the company declared force majeure on six occasions starting from November 10, 2013, just 10 days after the assets of Yola Disco were handed over to it. The last force majeure, it said, came on May 13, 2015.

BPE also said force majeure clause was a standard clause in most contracts and includes events like natural disasters; wars and other occurrences, adding: “So the existence of the clause in the contract is normal. The share sale and performance agreements are standard industry agreements signed by all the Discos, so YEDC is not being given any special treatment.”

“To me, I am relieved that finally we have gotten to this point. I understand it was done out of pressure from the international community.

I learnt international investors said they were not going to do anything with us until we show some seriousness.

“So I think it is the most welcome development since this forex regime started. Now, you are going to see the parallel market depreciate initially, and then appreciate significantly and the difference between the parallel and interbank market would narrow.

“This will also solve the problem of dollar liquidity in the market because a lot of people would bring dollars in officially. Before, people were taking it to the parallel market.

So there would be much more supply.”

A currency analyst at Ecobank Nigeria, Mr. Kunle Ezun also predicted that the naira might depreciate to about N350 to a dollar on the interbank market this week, just as he aligned with Rewane, saying: “That is what they should have done when they introduced the flexible exchange rate policy.”

“The central bank ought to have allowed the naira to find its level, and then it would appreciate gradually to about N280 to a dollar.

Foreign investors were not comfortable with the N280 to a dollar, considering what the value of the naira is on the parallel market.

“With this now, the CBN would still be intervening as

a player in the market, but not as frequently as we have seen since the new guidelines for NIFEX were introduced,” he added.

According to Ezun, if the naira is allowed to trade freely and reflect its true value, foreign investors would come in droves.

He added: “If we say we are operating a flexible exchange rate regime, we should allow the market to trade to reflect the level of liquidity in the market, which is between N300/$1 and $350/$1, then over time, with inflows from foreign investors, the naira may appreciate to about $250 to a dollar. But it shouldn’t be a controlled rate.

“A lot of people believed that the CBN was controlling the market at an interbank rate of around N280 to a dollar. So with what the CBN has done, there is no restriction on the 50 kobo spread between the bid and offer again. This means banks can trade based on what they have.”

The Emir of Kano and former CBN Governor, Alhaji Muhammad Sanusi II, last week said the flexible exchange rate regime was not being fully implemented, just as he warned that targeting a pegged rate would not resolve the current FX problem.

He urged the central bank to allow the forces of demand and supply to determine the true value of the nation’s currency, in line with the flexible exchange rate policy.

“There is a fantastic document by the central bank on the flexible exchange rate. We need

to implement that document properly. So long as the implementation is not total and faithful to the document itself, you would have residual market risks.

“You have to let the market decide where the naira is going to be to start with, before inflows come in and then when the inflows are in, you have an appreciation of the naira.

“So you have to live with a devaluation to N300/$1 plus and then it will firm up to N270/$ or N280/$1 or whatever. But so long as you target a rate of N280/$1, you are just moving the peg,” he had argued.

He, however, pointed out that with the new forex policy, the central bank was able to reduce the arbitrary opportunities in the market as well as improving its liquidity.

Emefiele flew to Britain and the United States on a road show last Friday to try to lure investors. Investors had welcomed the move but many said they were steering clear until the economy shows signs of concrete recovery.

awards focused on honouring organisations that have made outstanding contributions in the field of sustainable finance, stimulated the interest of financial institutions and other stakeholders in integrating sustainability in their core business strategy.

It also recognised candidates

who promote growth of sustainable financial instruments and markets worldwide, particularly in the fields of green finance and investments, financial inclusion and social finance, and green equity and holistic integration of sustainability in the financial services institutions.

CBN FINALLY FREES THE NAIRA, FUNDS FORWARD CONTRACTS be making a kill of almost N10 to the dollar, given that the naira fell to N292.25 on the interbank market last Friday.

On the first day of trading under the revised rules for the NIFEX on June 20, the CBN had intervened in the market through the Special Secondary Market Intervention Sales (SMIS) to clear the backlog of $4.02 billion pent-up demand for FX. According to the CBN, it sold $532 million on the spot market and $3.487 billion in the forwards market.

A breakdown of the $3.487 billion forward sales by the central bank showed that $697 million was for one month (1M), $1.22 billion for two months (2M) and $1.57 billion for three months (3M).

On the full liberalisation of the interbank FX market, THISDAY learnt that pressure was brought to bear on the CBN when it was discovered that since the launch of the revised rules for the NIFEX market last month, the CBN through its interventions had pegged the naira within the range of N281-N284/$.

A banking industry source informed THISDAY that the central bank retained the peg despite announcing that it had floated the naira because of the continuing opposition

by President Muhammadu Buhari to the devaluation of the Nigerian currency.

He said: “President Buhari only sanctioned the introduction of the flexible exchange rate regime when he saw the damning data released by the

NBS showing that the Nigerian economy had contracted in the first quarter of this year and had effectively slumped into a recession.

“He was a very reluctant convert, so when he expressed his opposition again after the market had been partially liberalised, the CBN slammed the breaks on the naira and started pegging it again.

“But pressure was mounted on the central bank to allow the naira find its true level because offshore investors had taken note and refused to bring their money, thus exacerbating the FX scarcity in the market which the flexible exchange rate regime was meant to resolve.”

Signalling the move towards a proper free float of the naira, THISDAY learnt from treasurers of some of the commercial banks that the central bank held a conference call on Friday with authorised dealers in the FX market, during which the information was communicated to them.

Also, just as the conference call was taking place, the CBN Governor, Mr. Godwin Emefiele, was at a lunchtime meeting with investors in London, where he was said to have told foreign investors that the flexible exchange rate would now operate fully.

A source, who was at the London meeting, said what they gathered from the meeting with Emefiele was that banks were now free to set pricing at a level where supply would match demand for forex.

The central bank anticipates

that this new policy would encourage those that have forex to bring it and sell, now that they can get more naira.

As a result of the development, banks made higher bids for forex on Friday, thereby leading to a depreciation of the naira.

Indeed, the naira depreciated against the United States dollar across all FX market segments on Friday. On the interbank market, it fell to an all-time low of N292.25 to a dollar and depreciated at the Bureau De Change and parallel market segments by 2.9 per cent and 3.13 per cent to N355/$1 and N365/$1 respectively, as demand at the interbank market spilled over to the alternative market segments.

Speaking in a phone interview with THISDAY, the Chief Executive Officer, Financial Derivatives Company Limited, Mr. Bismarck Rewane, welcomed the decision to finally allow market forces to determine the value of the naira, saying: “It is about time they did the real thing.”

“Every other thing they were doing was to a large extent a rigged system under the flexible exchange rate system. That did not allow the naira to find its true equilibrium.

“You intervene in the market and naira finds its price. Then you intervene to influence that price. You don’t set a price by starting an intervention before the price emerges. By doing that, you will not know whether you are supporting the currency at an unsustainable rate.

ACCESS BANK WINS KARLSRUHE SUSTAINABILITY AWARD validation of Access Bank’s commitment, leadership and practice in sustainability.

“For this, I would like to thank the board, management and staff of the bank. We are delighted to be presented with this highly coveted award. It is a testimonial to the unwavering support we have enjoyed from

customers over the past few years and the hard work we have done in line with our five-year strategy to become the world’s most respected African Bank.

“At Access Bank, we believe our operations, loans and project finance must have the barest environmental footprint. Indeed,

we believe the net impact of our activities must be positive on the environment. As such, we are champions of climate change mitigation and adaptation.”

He said that the bank would be further motivated and maintain profitable growth while embracing sustainability.

The conveners said the 2016

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T H S D AY • MONDAY JULY 18 2016

SERAP Sues FG over Failure to Name Suspected Looters A c v soc ety organ sat on Soc oEconom c R ghts and Accountab ty Pro ect (SERAP) has sued the federa government for what t descr bed as ts fa ure to re ease the names of suspected ooters of the country s treasury and the c rcumstances under wh ch the sto en pub c funds were recovered The su t fi ed ast Fr day at the Federa H gh Court n Lagos fo owed a Freedom of Informat on (FoI) request to the M n ster of Informat on A ha La Mohammed ask ng h m to prov de nformat on on the names of h gh rank ng pub c offic a s from whom pub c funds were recovered and the c rcumstances under wh ch the funds were recovered as we as the exact amount of funds recovered from each pub c offic a The or g nat ng summons was brought pursuant to Sect on 4(a) of the FoI Act and s gned by SERAP s Execut ve D rector Adetokunbo Mumun Jo ned as defendants n the su t are Mohammed and the Federa M n stry of Informat on and Cu ture The p a nt ff argued that by a etter dated 21 June 2016 the Attorney Genera of the Federat on (AGF) and M n ster of Just ce Abubakar Ma am (SAN) confirmed that the FoI request

by SERAP was brought to the attent on of the defendants for hand ng It sa d s nce the rece pt of the FoI request and the confirmat on by Ma am that the request was brought to the attent on of the defendants for hand ng and up t the t me of fi ng of the su t the defendants had refused to prov de SERAP w th the deta s of the nformat on requested SERAP s ask ng the court to determ ne whether by v rtue of the prov s on of Sect on 4(a) of the FoI Act the defendants are under any ob gat on to prov de the p a nt ff w th the nformat on requested The su t read n part “By v rtue of Sect on 1(1) of the FoI Act 2011 the p a nt ff s ent t ed as of r ght to request for or ga n access to nformat on wh ch s n the custody or possess on of any pub c offic a agency or nst tut on Under the FoI when a person makes a request for nformat on from a pub c offic a nst tut on or agency the pub c offic a nst tut on or agency to whom the app cat on s made s under a b nd ng ega ob gat on to prov de the p a nt ff/ app cant w th the nformat on requested for except as otherw se prov ded by

Two-Minute Briefing NEWS MEND Writes Buhari, Names Diette-Spiff, Tomplolo, Others in Dialogue Team The Movement for the Emancipation of the Niger Delta (MEND) on Sunday wrote President Muhammadu Buhari, submitting the final list of its dialogue group, AaronTeam 2.

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MONDAY JULY

18, 2016 • T H

MEND Write s Buhari, Na mes Diette-S Tomplolo, Ot piff, hers in Dialo gue Team Email davidso

News Editor

n.iriekpen@thi

I S D AY

Davidson Iriekpe

sdaylive.com,

0811181308

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The Movement for the list Emancipation of members of of the Aaron Team (MEND) on Sundaythe Niger Delta 2 dialogue, “Consequently, peace and developmen wrote President Muhammadu the NDDCG, t the name Buhari, submitting initiative inaugurated as both connotes, shall by the final list of serve as vast states and shall deploy his its dialogue group, on June 12, 2016 to find MEND the contact and wealth intimidation or Aaron Team sustainable clearing house solutions to the 2. harassment. for benefit of of experience for the Niger Delta crisis,” all mushroom and internet-bas “Your the In the letter militant groups ed developme dialogue, peace and Aaron Excellency, the MEND prison to help save the signed by its the letter reads. spokeperson, nation in in the region; nt initiative. times of Team 2 dialogue It said aggrieved oil-bearing all “High Chief and the likes crises. Examples include published by Gomo Jomo, Ajumogobthe team’s leader, Mr. and coastal Government peace initiative would not communiti Premium Times, ia, has Ekpemupolo’s have who of the Hebrew slave Joseph materialize the group announced record, character unblemished menace es affected by the was released the inclusion final list was inclusion in the work and d if not for the tireless of oil spillage and integrity and from prison of the leader principally because to help and related is widely respected support of the of of the key throughout the environmental challenges.

Okah famine. save ancient Egypt from brothers – Henry Dialogue and the Niger Delta entire Niger Nelson Mandela The in the role he continues to play NDDCG shall Contact Delta region.

Group, are currently and Charles who released Niger also Alfred Diette-Spiff was also Besides these in prisons in all repentant Niger accommodate ex-militant Delta as a notable , as its deputy South restore from prison in 1990 to help Africa and Nigeria, team leader. leader; philanthrop Delta activists, said the formerqualities, MEND elders multi- racial democracy respectively and traditional title ist; It is our It also named holder and mobilizer minister appreciatedforeign affairs actively tribal assemblies who humble submission . South Africa in in of its 1994. supported amazing former and the that the release of Commander, capacity. It the neglect “We therefore challenges facing problems corruption Governme urge perpetrated duringand be counter-productive will therefore is a crucial the Okah brothers of the region.

Ekpemupolo, Messrs Henry the release “He is factor in the peaceful if the Federal era of former the Governme alias Tompolo, nt and Charles President Goodluck resolution of representative as negotiator therefore our chief Jonathan nt ignored such the Niger Delta Okah similarly of Delta State in the individual an proposed but who are now ready crisis. the dialogue team. in with the dialogue join who may be President Olusegunas former Federal Governmen to capable hands Obasanjo “If Other members t,” the to bring with your Government of talking to the militants statement continued. in the who Senator Ali Ndume was released from prison creeks to ceasefire. peace and developme 2 include: Odein of Aaron Team is still facing become President to “HRH King Alfred to the region.

Ajumogobia, team nt “We are very and help charge of sponsorina terror to nurture Papapreye leader, Florence much aware Ita-Giwa, Ledum Diette-Spiff was the first “However, Senator the pending criminal of Haram g Boko democrac the then nascent Mitee, Adolphus military Ita-Giwa can be Florence against charges filed y in 1999.

Wabara, Ibanga governor of the old Rivers from Cross River by the Judiciary granted bail Government Ekpemupo Isine, Alfred Isename State and shall is currently, a “Finally, Your state and be 1st by and thereby, the lo representin class traditional the Economic Timipa ruler Excellency, Okponikpere. and Financial permitted to participat MEND Aaron in Bayelsa militant groups g all Bakassi Crimes e in nation-bu Team Commission and aggrieved “The Movement Deputy Leader State. He is the communiti (EFCC). highest ilding at one of the fully ready to partner is However, we of the Aaron Team for the as es from that Emancipation strongly advice Federal Governme the well as axis of the the Niger Delta, of that Leader levels as Majority charge be nt to bring (MEND), hereby the Niger Delta Niger Deltathe representative of the who see her peace and of the Senate; their mother. as the conclusionsuspended until after see submits the final Dialogue no reason why then we the Niger development to of Group (NDDCG). and Contact “Former Senate Delta the Okah assignment. This the Aaron Team brothers therefore urge region. We President Mr. who have enormous is to ensure that Adolphus Wabara Ekpemupolo devotes capacity to to contact Team Government help Governme Team to represent is in the Aaron energy his time, bring Leaders Mr. and nt Odein Ajumogob the Niger states. He is widely Abia and Imo resolution resources towards the ia, SAN and/ end are still heldDelta crisis to an or HRH of the current Niger respected across King Alfred Diette-Spiff in Delta crisis without “Sir, cases aboundprison. to flag-off the any fear of arrest, commence in history where prisoners were released from the peace process. May ment of the Federal Republic God bless of Nigeria.”

Gbajabiamila: Proposed Amendment of Immigratio n Act, Not Discr iminatory

Damilola Oyedele

in Abuja

foreigners, yet we have Nigerians The Majority Leader who are professiona of the House lly qualified of Representa tives, Hon. Femi to do same. It is not unusual Gbajabiamila, and is even normal to see Chinese the fears that has addressed labourers on constructio amendment to the proposed Many have even said n sites. the Immigratio Act would discrimina (though I n find it difficult to believe) expatriate workers, te against prisoners are brought from that stating that it would rather other countries ensure where Nigerians that sectors Nigeria,” to come and work in he said. not taken over are skilled are He also described by as misplaced, The intention, foreigners. fears that the amendmen is to ensure that he explained, the policies t negates of free trade of the Nigerian the hospitality would and not exploited government is investors. discourage foreign by taking away jobs that ordinarily He explained that the bill available to Nigerianshould be seeks to ensure workers, conditions that two whether skilled or unskilled. must be fulfilled Gbajabiamila before a position paper said this in a expatriatecompany can obtain quota. salient issues to clarify some “There raised proposed amendme over the qualified must be no Nigerian in the field or...if nt to the Immigration there any, he or she Act must be unwillingis through second which passed or unavailabl e to do the job,” House last week.reading in the he said, L-R:Former adding “From Phillipino must be given that Nigerians birthday Vice-President, Alhaji Atiku Abubakar;Governor partyinLagos....wee the right of first nannies, artisans and tillers kend ofOgunState,Senator to pilots and refusal. mariners, to IbikunleAmosun; Gbajabiamila bank MDs and andthecelebrant, said the workers. Most oil Mr.UyiGiwa-Osagi of our top hotels proposed amendme e,athis50th in Nigeria nt seeks implementa are managed by of national tion against all sectors economy.

CELEBRATING WITH A FRIEN D AT50

Gunmen Stor m Ruler in Lago Iba Community, Kidnap Traditional s

EDITORIAL The Nigerian Business Environment

Obasanjo Visits Sokoto, Comm iserates with Sultan, Shagari over Shinkafi’s Death

Police foil kidna p attempt on NUPENG

Chiemelie Ezeobi

Chairman

the gunmen made Some armed traditional ruler away with the the NUPENG Former President gunmen at and left in their Chairman, Rasaq weekend stormed the boats through.

Olusegun Alabi, and would Obasanjo has leaders the Iba described the Community have successfully PTD Chairman, Rasaq Meanwhile, at the Iba Local Umaru Shinkafi late Shinkafi should emulate both the combined whisked him away to unknown the help of the local Alabi. With Council Developm effort of operatives vigilante, parts but for the nationalist who as a committed dealings and Monguno in their of the Lagos State and ent Area of Response with other Nigerians. quick response were able to repel the gang we for the unity andworked tirelessly Squad (RRS), the Rapid of the police team Governor Aminu traditional ruler, kidnapped the Police Division development led by the RRS foiled the kidnap attempt.” and Ikorodu Command the country. of Tambuwal Goriola Oseni.

Waziri of the Lagos When contacted, er, Olatunji According to thanked Obasanjo the RRS Speaking in Sokoto an eyewitness Police Command and some State Assistant Commissio Disu, an Command for er, ACP ner of Police. local vigilante at the yesterday to the visit, and prayed to God account, the gunmen, when he paid The operatives, said: “We arrived Olatunji Disu, Ikorodu area of numbering reward him accordingly a condolence about 16, had while visit to the deceased’s . stormed the state, yesterday night foiled a the to the sounds of sporadicresponding area of Owutu at the Agbede On his part, the community kidnap family and attempt made in Sultan of in the Sultan of on the Petroleum at Agbede at the Owutu gunshots the Owutu divisionalIkorodu with Sokoto, Obasanjo Alhaji Muhammad Sa’ad Sokoto, announced theirtwo boats and Tanker and Agric police Drivers (PTD), Area of Ikorodu, said Shinkafi’s Abubakar presence by III, commende Chairman of shooting sporadically death and that at about 11.30p.m. and discovered the shootingofficer d Obasanjo for Nigerian Union Maiduguri-based of was an attempt to his of Petroleum and at the weekend, had run elder statesman, gesture of friendship, adding Although details into the air. Natural Gas kidnap into the PTD gang and foiled Shattima Ali Monguno, (NUPENG) workers. of the attack that were Shinkafi lived Chairman, RasaqNUPENG their still have attack. a The worthy sketchy robbed service 10-man gang the country of Speaking on life of it was at press time, “It was the quick Alabi. had accosted honest voices to his country. account of the NUPENG gathered that response of who anonymity, a still had a lot chairman right the police and the gang home Obasanjo equally senior police officer to offer in his vigilante paid a visit to had killed a member He said even thoughthe nation. former President scuttled the kidnap men that of the with and had riddled his door who spoke to THISDAY local vigilante we Shehu Shagari cannot attempt but bullets while said: the gang “We were question the work and also allegedly shot and escaped. of God, present and prayed to God to grant access and when trying to gain sporadic alerted about some him traditionalinjured the wife of the good health. the “We were also failed, they escaped kidnap attempt Our men shooting at Ikorodu. ruler. the Commissio there to carry out were deployed with a car and After terrorising ner of Police, there Owoseni’s and they discovered the community two motorbikes. t should worry directive to secureFatai , that it was The kidnap gang the authoriti ranking on and patrol the crises es that the had targeted a kidnap attempt. latest “The target was puts Nigeriathe “Ease of Doing Business and it paid off areas of Ikorodu the at as number NUPENG ” countries assessed 169 on respond in recordwe were able to . The report, the list of 185 time.”

Business 2016: entitled “Doing Kenya were and Medium Smarter Regulatio ranked above ns for Small -Size Enterpris cent, fell below Nigeria which, overall ranking at 44.69 per on 10 key es”, based the It is notewor the regional average a business indicators: , dealing registering oil prices whichthy that before the of 49.66. property, gettingwith constructionstarting tors, paying crisis, Nigeria in turn led to the recent slump in permits, credit, foreign exchange contracts, taxes, trading across protecting invesdoing businesswas gradually improvin resolving insolven borders, ranking. g on the ease improved The report cy and gettingenforcing of significantly For instance, the country analysed regulatio country’s business electricity. ranking as in the area had ns that apply it es and allowed gap between last year. But moved from 125 in of access to credit to a 2014 point in time a particular country’susers to see both the cally. On the all that seems to have to 52nd position performance changed dramatitory environmand to assess the change distance to overall distance to at any frontier - which the in the regulaNigeria made ent over time. In of the indicator highest performa is the the nce property and improvement in the current assessment, fare well either.s across all economi observed on each area of registerin protecting es – Nigeria A look at one compared explain the minority investors g of the indicator did not with last year’s differenc es in the ranking three key indices: but when for instance, s would ranking, it retrogres getting and starting to do well. a country like Mauritiu of Nigeria and, a business electricity, access to sed in s which continue country recorded . Much credit s no improvemmore significantly, the ent in five owever, the key tors - trading indicaaspects also report did not measure across some borders, dealing of security, critical to investors such as level macroeconomic with construction skills of the stability, labour of institutio population, paying taxes, permits, ns of the financialand infrastructure, underlying quality ing contracts enforcor even the system. measuring , and strength resolving insolven the regulatioThe focus was primarily life cycle of cy. a domestic n and red tape relevant on Against the What this to the background means is thatsmall to medium-size in the next aim of the that the report if we we can determine firm. basis for understa report is to our regulations put in place provide and take concrete the necessarranking nding and environment obstacles that improving an objective steps to remove y for business hi the regulator lessons to the around y learn. Indeed, the the relevance since its first world, there are report in 2004, and its likely of the report as a resource for business investment impact on the flow of foreign direct even though(FDI) cannot be over-em and on the it is the largest economyphasised. Yet, continent, Nigeria has whatever the in the sub-regio not done well yardstick applied, n cent and 58.24 in the rankings per cent respectiv . At 68.89 per ely, South Africa and

It should worry the authorities that the latest ranking on the “Ease I of Doing Business” puts Nigeria at number 169 on the list of 185 countries assessed.The report, entitled “Doing Business 2016: Smarter Regulations for Small and Medium-Size Enterprises”...

R Page 15

ED ITO RI AL

THE NIGE

15

RIAN BUSI NESS ENV IRONMEN T

H

POLITICS For PDP, the Storm Isn’t Over Yet

Mohammed the Act w th n seven days after the app cat on s rece ved “The nformat on requested by SERAP does not come w th n the purv ew of the type of nformat on exempted from d sc osure by the prov s ons of the FoI Act The nformat on requested for apart from not be ng exempted from d sc osure under the FoI Act borders on an ssue of nat ona nterest pub c concern soc a ust ce good governance transparency and accountab ty “The defendants w not suffer any n ury or pre ud ce f the nformat on s re eased to the members of the pub c It s n the nterest of ust ce that the nformat on be re eased Un ess the re efs sought here n are granted the defendants w cont nue to be n breach of the FoI Act and other statutory respons b t es “Wh e the suspects genera y are ent t ed to be presumed nnocent unt proven gu ty by a court of competent ur sd ct on the FoI Act mp c t y proh b ts a b anket non-d sc osure of names of h gh-rank ng pub c offic a s from whom some of the funds were recovered “It s further subm tted that the

recover es spec fica y from h ghrank ng pub c offic a s (and not pr vate nd v dua s) are matters of pub c nterest Pub sh ng the names of those pub c offic a s w prov de ns ghts re evant to the pub c debate on the ongo ng efforts to prevent and combat a cu ture of grand corrupt on and the ongstand ng mpun ty of perpetrators n the country” In ts FoI request the p a nt ff sa d “The grav ty of the cr me of grand corrupt on the devastat ng effects on the soc a y and econom ca y vu nerab e sectors of the popu at on and the fact that recovery of huge funds from h gh-rank ng pub c offic a s entrusted w th the pub c treasury ra se a pr ma-fac e case and therefore amounts to except ona c rcumstances that ust fy nam ng those h gh-rank ng offic a s n the pub c nterest ” It added “SERAP be eves that the r ght to the truth a ows N ger ans to ga n access to nformat on essent a to the fight aga nst corrupt on and n turn the deve opment of democrat c nst tut ons as we as prov des a form of reparat on to v ct ms of grand corrupt on n the country”

NJC SACKS OSUN JUDGE FOR WRITING PETITION AGAINST AREGBESOLA n Abu a by the counc s act ng D rector of Informat on Mr So Oye sa d “The counc under the cha rmansh p of the Hon Ch ef Just ce of N ger a Hon Just ce Mahmud Mohammed at ts 77th meet ng wh ch was he d on 15th Ju y 2016 recommended the compu sory ret rement from office of Hon Just ce Mohammed Nas ru Yunusa of the Federa H gh Court of the Lagos D v s on and Hon Just ce O am de Fo ahanm O oyede of the H gh Court of Just ce Osun State “Just ce Yunusa was recommended for compu sory ret rement from office to Pres dent Muhammadu Buhar pursuant to the find ngs by the counc fo ow ng the a egat ons conta ned n pet t ons wr tten aga nst h m by the C v Soc ety Network Aga nst Corrupt on that H s Lordsh p granted nter m orders and perpetua n unct ons restra n ng the AttorneyGenera of the Federat on the Inspector Genera of Po ce the Independent Corrupt on Pract ces and Re ated Offence Comm ss on (ICPC) and the Econom c and F nanc a Cr mes Comm ss on (EFCC) from arrest ng nvest gat ng and prosecut ng some persons accused of corrupt on n the fo ow ng seven cases FHC\L\CS\1471\2015 between S mon John Adon mere & 3 Ors Vs EFCC FHC\L\CS\477\14 FRN V M chae Adenuga FHC\L\CS\1342\15 Senator Ste a Oduah Vs AG Federat on EFCC ICPC & IGP FHC\L\CS\1285\15 Jyde

STARTERS

Ade akun & Anor Vs Cha rman EFCC & Anor FHC\L\CS\1455\ Dr Mart ns O uwafem Thomas Vs EFCC FHC\L\ CS\1269\15 Hon Shamsudeen Abogu Vs EFCC & Ors and FHC\L\CS\1012\15 Hon Etete Dauz a Loya Vs EFCC ” The statement sa d that dur ng de berat ons counc found as fo ows “That Just ce Yunusa assumed ur sd ct on n the Federa H gh Court Lagos n su t FHC\L\CS\1342\15 where n the nfr ngement of the app cant s r ghts occurred n Abu a contrary to Sect on 46 (1) of the 1999 Const tut on of N ger a (as amended) “That H s Lordsh p contravened Ru e 3 1 of the Code of Conduct for Jud c a Officers n Su t FHC\L\CS\1445\15 by c a m ng gnorance of the prov s ons of the Money Launder ng Act when he made an order stopp ng EFCC from carry ng out an nvest gat on nto a money aunder ng case nvo v ng $2 2 m on aga nst the app cant “That Hon Just ce Yunusa s dec s on restra n ng the ant -graft agenc es from carry ng out the r statutory funct ons n the first s x cases ment oned s contrary to the udgment of the Court of Appea n A G Anambra State Vs UBA wh ch H s Lordsh p quoted but d d not app y n h s ru ngs ” On the a egat ons eve ed aga nst Just ce O oyede by a group Osun C v Soc et es Coa t on the counc

a so recommended her compu sory ret rement from office to the Osun governor seque to the find ngs of ts fact-find ng comm ttee that “The udge fa ed to conduct herse f n such a manner as to preserve the d gn ty of her office and the mpart a ty and ndependence of the ud c ary when she wrote a pet t on aga nst the Osun State governor and h s deputy to the members of the state House of Assemb y and c rcu ated same to 36 persons/organ sat ons “The pet t on wr tten by the udge was sa d to conta n po t ca statements unsubstant ated a egat ons and accusat ons a med at der d ng demean ng and underm n ng the government of Osun State the person and character of the governor (as one who s crue a ar and a tra tor) h s deputy and a des “The counc a so found that the pet t on conta ned statements ca cu ated to nc te the res dents of Osun State aga nst the state government and ts e ected officers ” NJC added “Just ce O oyede crossed the fundamenta r ght of freedom of speech and created a negat ve percept on of the N ger an ud c ary to the pub c “The a egat ons aga nst the udge const tute a m sconduct contrary to Sect on 292(1) (b) of the 1999 Const tut on of the Federa Repub c of N ger a as amended and Ru es 1(1) and 5 of the 2016 Rev sed Code of Conduct for Jud c a Officers of the Federa Repub c of N ger a ”

It was a defining moment for the stakeholders of the Peoples Democratic Party (PDP) as the Independent National Electoral Commission (INEC) onTuesday formally broke its silence on the crisis and controversy rocking the opposition party and recognised the leadership of the National Caretaker Committee led by Senator Ahmed Makarfi. Page 16

16

POLITICS

Yet

I

Ekweremad

u, Sheriff and

a PDP member

at the reconciliati

on meeting

t was a defining moment for stakeholders the Party (PDP) asof the Peoples Democrat ic the Independe Electoral Commissi nt National or mar national formally broke on (INEC) on Tuesday As the party the Rivers Stateconvention in Port Harcourt and controver its silence on the crisis capital. party and recognisesy rocking the opposition , party’s constituti rope trying works a tight One remarkable to shake off National Caretaker d the leadership thing that happened court judgmen on to align it with the national caucus meeting recent Ahmed Makarfi. Committee led by of the the leadership at “once beaten, ts. And as the saying appearance by was the surprise Senator a strong member The decision that engulfed conflict not need muchtwice shy”, PDP leadersgoes, led group and of the factions it wouldon which of the leadershi South-west, a chieftain of the PDP Sheriff- agreed to amendprodding to unanimo did it follow from the party’s Senator Buruji recognise became p the comin usly the following its g of Senator ing stormed the venue Kashamu, who constitution relevant sections of the apparent the Makafi-leacceptance of the candidate to declare his in response the Senator Sheriff, anoth to the recent d support for court rulings, which voided caretaker of Ize-Iyamu the former Committee.Makarfi-led National Caretake er conce the election as the duly committee, Pastor is alread governorship of r in 2014. national chairman, Adamu elected Edo While addressin y building- rn Muazu action, thus, candidate of the PDP. State up on g journalist party stakehold Though the court s temporar and the This ers, other fate came handy ily the raging the party’s self-inflic Yar’Adua Centre who thronged the of the to controversy brought to an end, Maka Shehu sacking two contendin ted leadershihelp resolve over which rfi-led careta making caucus in Abuja, venue of the meeting, Chairman epoch- his groupthe recalcitrant Senator p crisis by Makarfi and g factions (between of the and committee, whether they ker Senator Ali Senator from office, the Sheriff and Senator Makarfi of the court field candidate Modu Sheriff) leaders ruling as somethinleaders also saw said had resolved will can indeed the Buoyed by s for elections. to set aside the party been very embarras zoning arrangem g that relinq the earlier that confidenc pronouncement sing if it hadwould have in keeping former national ents put together under office as plannuish their e-boostin

by INEC, chairman. the governor the party out of the succeeded Caretaker Committe He the Nationalg Senat ed. said ship election. since But Edo State a caucus meeting, e immediately convened next president the party had resolved or Maka Speaking further that its reached where leaders candidate on some of the from all sides to be aware rfi seemed from the north, ial of at caucus meeting, resolutions the leaders in in 2019 will come the fresh nationalof the divide resolvedthe PDP agreed of leaders their such that Makarfi wisdom to the convention hold and has also amendm considered and approved said elect new officers will now be national chairmanship on assured thatfear ents to the party’s zoned to the position of the party.August 17 to the Governor Makarfi, caretaker south. Accordin “We have also constitution.four his of Rivers State, To cap it all, committee discussed and g to new amendm committee will was given another Nyesom Wike 48 hours constitute agreed on a within the of ent to the constituti chance to host keep to the will definitely tonext a zoning recent further handle the make time frame the zoning of committee constituticourt judgments in order on in view offices in line allotted other national on to align the delivered to the judgments that have Makarfi alsowith the constitution of party. Equally, by court of competen been propose four said the meeting resolved t jurisdictions. we received different amendm to reports ents to the You can see by yourself, of reconciliation. our brother, friend

FEATURES Taking Environmental

FEATURES

Cleanliness to Makoko It was a sort of operation show your neatness outside at Makoko, yourneatnessouts deatMakoko a slum community bedevilled I by the harsh effect of unclean environment in Mainland, Lagos.

Page 20

Tak ng Env o Makoko onmen a C ean ne CONT’D ON

BUSINESS Infractions: NSE Moves to Sanction

CITYSTRIGNS Succour for Abia Road Users

˾ MONDAY, JULY 18, 2016

ons of the een Peoples Dem the Ali Modu Sheriff hitherto intra and Ahm ocratic understandinctable crisis plaguing the Party had signaled an ed Markafi suggests that g reached at the peace party, the sudden turn end to the -around on parley by the the crisis is far the from being over Sher , writes Ony iff group however ebuchi Ezig bo

Mimiko, Makarfi,

Directors of Stockbroking Firms The Nigerian Stock Exchange (NSE) has intensified moves to ensure directors of stockbroking firms are adequately punished for mismanagement of the firms or violation of market rules by the firms. Page 23

T H I S D AY

Group Politic s Editor Olawa le Olaleye Email wale.o laleye@thisda ylive.com 0811675981 9 SMS ONLY

THE MO N

For PDP, the D A Y D I S C O U R S E Storm Isn’t O While a rece nt meeting betw ver facti

T H I S D AY

• MONDAY, JULY 18, 2016

BUSINESSW

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Quick Takes

FAAN Trains New

The Federal Airports Security Personn el Authority of recruited security personnel that Nigeria (FAAN) is training airports. newly would help to further fortify Theagencysaid the thenewlyrecruited commitment staffwaspart to entrench safety oftheAuthority’s FAAN’s Managing and security in the nation’s airports.

Director, Saleh following an unschedule Dunoma d visit to the FAAN stated this in Lagos The agency is Training School. into the Aviation currently training 240 newly Fighting ServicesSecurity (AVSEC) and the recruited employees Airport Rescue and Fire The first batch (ARFFS). training, which of the trainees is undergoing commenced on June 15, 2016 a 12- week induction in Lagos.

Sterling

Bank,

MERITORIOU S AWARD

L-R: Represent ative of Governor Managing Director Akinwumi Ambode and Chief Lagos State, of Lagos cum Dr. Babatund Executive Officer, Fidelity Secretary to 2015 Tree Planting e Adejare at the the Lagos State Bank Plc, Nnamdi 2016 Government, Campaign in Lagos state…reTree Planting Day where Okonkwo, and the Commissi Mr. Olatunji Bello; Fidelity Bank cently won the Award oner for the Environme nt, for the Best Green Partner

Infractions: NS Directors of E Moves to Sanction Stockbroking Firms CAPITA

GoddyEgene

NASME Hold SterlingBank Workshop Association of PlcincollaborationwithLagos Small and Medium Chapterofthe Monday July 18, 2016 commence Enterprises (NASME) Nigerian enterprises (MSME) will from a three-day micro, workshop for workshop is scheduled members of the small, medium association.The to hold at the Research (FIIRO) Oshodi, Lagos. Federal Institute for Industrial The bank had organised similar Kaduna for MSME workshops in Port Harcourt empower MSMEs. operators as part of its nationwide workshopand The next workshop The bank in to will hold workshop woulda statement made available in Ibadan, Oyo State. to provide newsmen participant appreciatethe conceptofentreprene s with the opportunit said the to improve their y to managerial capacity urshipand betterposition fully and profit maximisat them in the areas of risk ion. manageme “It will also cover nt basic accounting team building, skills, sales human resources and marketing, essentialscustomer service and of management Executive Director, among others”, business plans and the bank added.

Finance & Suleiman had The announced at Strategy of the Bank, Mr. Abubakar that the bank a press conference would be anchoring earlier in the year operators in various a series states nationwide of workshops for MSME .

The Nigerian L MARK ET direct Stock Exchange and manage (NSE) has intensified the business without any form of liability of the company. However, moves to commit infractions ensure directors or accountab has been observed would go a of stockbrokin it long way ility. firms are adequately g in restoring Unity Bank Partners that direcHowever, the investor punished confidence in NSE, THISDAY tors are often quick for mismanage Firm As part of its to resign nation’s capital ment of the firms gathered, is making corporate social market. or violation fresh moves in instances where the Plc said it recently to ensure responsibility of market rules firms have either partnered with According (CSR), Unity the firms. been mismanag by are held that such directors governmental to him, capital Bank Beibei Haven or exposed accountabl organisation Foundation, a to disciplinar ed market regulators Currently, Rule to organise a raise awareness they have resignede even after tion nony acmust ‘Fertility Walk’ 19.4 of the for violation NSE gives the from the in order to of the Rules on top of their responsibibe The target of and funds to assist families stockbroking without any this with fertility challenges. firms. ties in order liish only formerpowers to punform of liability access to effectivecampaign is to assist no To make this or confidenc to boost investor less than 20 couples and efficient treatments effective, the accountability,” the exchange stockbroking employees of NSE e in the conditions. has proposed firms that have explained. that could remedy gain Dogara, who market. been mismanage an amendment of its Rule The Executive their d or exposed According of the House was a member 19.4, saying disciplinary to view of Mrs. Aisha Azumi Director, Secretariat & in the objectiveto the exchange, action for violation the supervisor Service, Unity investigated Committee that Abraham declared of rules while of y role the the the Bank Plc, proposed the of Beibei Haven Board 2009 crash of that the the stock market, left out. It hasthe directors are managem of Directors over the amendment is to make alleviate fertility Foundation as well as otherbank was aligning with rules more ent of stockbrok challenges in advocacy groups that directors been observed firms, encompassing the that most of the observed ing She stated that the society. to operators “undergoin firms are oftenof stockbroking sary it has become neces- hold both the managem to who contribute can g provide solution fertility treatment d to to make directors and board of ent in instances quick to resign accountab to a lot of Dealing Member of the market went the crash s such as more firms these treatment where the firms unpunished. le for accountable s are expensive couples’ fertility challenges IVF have either for activities He said investors would we strongly believe the managem the activities of which been mismanag for many. But, but took place during ent whom they have more confidence at Unity Bank that there is or exposed ed barrier oversee. hope to disciplinar in the Plc, to fertility is cost. their they tenure. for couples whose y action for violation know that antiquatemarket if ” primary “Directors are The Speaker, of the rules punish House Represen- would be given to FCMB Lists Gains appointed by persons duly tatives operators Yakubu the company who commit First City Monument of Electronic Cards to said sanctioningDogara, recently infractions in the Bank operators who MasterCard, 42 Visa and Verve (FCMB) has said that holders Continued Cards are in for service and excellent of its on page 24 better value, experience following of its recently seamless commissioned the full implement Obinna Chima Finacle 10. technology solution, ation otherwise named, The Group Head, Cards and ECONO MY After an almost Iwuajokusaid, and gradually holidaymakers Electronic Banking rise in headline unstoppable T H Iat change their loungesaround will S FCMB, D AY Mr. John expectations • MONDAY inflation to theworldwith nowhaveaccesstoover record high, , JULY 18, 2016 a defying as experience index and core 850airport MasterCard holders) theirprioritypass the sub-index.

The slowdown card(available since the cards be entering an economy may gravity most rules of economic unfolds,” the FDC stated “Compared only in are to a era and logic. the pace of acceptable all report. in advance to rates of inflation, of declining over the in the food sub-index and Verve cards generically issued cards, Acting “The root cause In the analysts have FCMB MasterCar world.

Featur predicted in variants that (Verve is for local transaction es hyper inflation of the near Economic same vein, the would be driven by decline Editor d, Visa Charles Ajunw s only) are configured the prices of in rate can be Intelligence For the Financial the society and suit different traced to Email lifestyles, food items Unit rice, charle usable by all a are Company Limited, Derivatives attributablsupply shocks at-times of Access Bank Plc preditced tomatoes, and such as segments “This lender of quite easy and simple to s.ajunw a@this of daylive inflation vegetable e to the inflation rate for June and individuals choice with a robust productactivate. compounded artificial scarcity moderaterate (year-on-year) to oil on the back of availability .com 2016 expected alongside its by uncertainty petrol which suite for businesses of be released award be leveraging in per cent downwards to 15.4 may have aided today may see to the forex markets. diverse capabilities winning service culture transportation in June 2016.

Consumer to reach more by investing extensively is said to Price Index the question therefore The Big They explained customers. of these items.and distribution (CPI) this drop slightly is whether in channels that their drop in inflation methodolo “The core index cent in May, from 15.6 per or a is a blip autoregres gy adopted point of inflection. to 15.5 per cent. should an descend also sive “If this estimate “Economic history prices, while analysis of past change marginally due to slight turns out to be accurate, has shown it in consumer that disinflatio the assumptio recognised all witnessed behaviour n (a period some fundamen it will raise declining ns used by during the of the period “Government as to the directiontal questions a result inflation) is usually National Bureau of Statistics towards importedreview (NBS) in its should consider of adaptive of inflation goods.

Therefore, weak and possible computation expectamaking land tions. The theory available for rates in the level of interest expectation of adaptive monthly composite CPI. of imported items demand for develope is money markets. expected “Our s assumes rs to build June as higher expectation in Headline inflation that people form their for prices in the affordable houses and sell had almost been in Nigeria inflation expectation of future downtick in inflation rate a previous month in every the first on the may have for loose cannon, state of the federation and present basis of previous on an time in 2016 is based caused cutbacks in consumptio ” rates of inflation anticipated n downward spending,” they added.

Managing Director/Ch movement in the food ief Executive Officer, subSuru Continued Mr. Edward Akinlade Group, on page 24

Inflation Pred icted

to Dro

ginally in June CITYSTRIp Mar NGS

Succour for Abia Road U sers

Road users in Abia will soon heave a sigh of relief as efforts of the federal lawmakers and the state government to ensure that federal roads in the state receive a facelift have started yielding positive results. Page 42

The efforts of Abia feder al roads in the state are rehab lawmakers and the state ilitated are begin government to ensure that ning to pay off, writes Pete federal r Uzoho

Ubani (middle)

R

and AfDB team

inspecting roads

in Aba...recen

tly

oad users in heave a sigh Abia will soon The federal of the federalof relief as efforts tirelessly lawmaker lawmakers to ensure that s are also working the state governme and nt to ensure Road that links Abia, the Aba-Ikot Ekpene Arochukwu and Ohafia that federal Akwa Ibom River States roads and Cross of lime stone, which is have large deposits is rehabilitat receive a facelift in the state of the pride of a major raw for cement ed. The yielding positive that road has have started the South-eas production. material failed completelAbia section results. regions of difficult for Senator Mao This is as the y, making Nigeria, toutedt and South-south patrons from Ohabunwa, Federal Roads of Africa, Agency (FERMA) the neighbou it Abia North Senatoria to be the Japan who represent Maintenance states, as well as Cameroon ring in 2015, s acumen because of the entrepren and Ministry l zone in the Delta Affairs The Ohafia-A to access of the residents attracted a of Senate, eurial team from roads in the have penciled down Niger been abandone rochukwu road, whichAba. Assembly to .

The roads the National assess the state for rehabilita some prompt d for has Aba-Owerri include Port Harcourt deplorable A recent attention. That years, also requires that road. tion.

Road, Ikot-Ekpe state of as Road, advertorial road, would spur indicated This cheering well as Ikwuanone Road in economic activitiesif rehabilitated, that maintenaby the agencies, Aba developm are to be nce and in Abia North. result of a good synergy ent is no doubt the Ohafia-Arochulwu Ikot-Ekpene Road and directed Road.

State Governm sections of Umuahia- at the critically repairs According between the failed Ariam-Ikot at the National ent and its represent Abia are strategic to Ikpeazu, “those in Abia State, Ekpene Road to the economy roads state can achieveAssembly. Unarguab atives especially Port intervention in the phase 1 of FERMA The federa Harcourt Roadof the state, than confronta more as consensus ly, the machine fabricators rehabilitation projects for 2016, while that hosts l lawma is better we kers the Aba sectionof Egbelu-Adaelu Road, the are also Provision of tion. can’t access ; however it is painful that of the Enugu-Po workin off especially Aba, road infrastructure Expressway, To solve the that road at the moment.” rt Harcourt to in ensure that g tirelessly ties in the entirewould boost economic Abia, Harcourt Road, incessant flooding of FERMA was capturedMONDAY in the phase of proposed projects.

JULY activiPort the he South-eas 2, 18,Ikot revealed that Abarequire drainage 2016 • T H I regions of Nigeria, t and South-sou In the other it would S D AY Ekpen of about 13 hand, Ministry th well because of e Road that location and Delta in its of large populatioits geographical that as the demolition of illegalkilometres as consultancy 2016 capital projects Niger links Abia, Akwa Aba is a confluenc area, stressing n of artisans. structures in services for listed that Ibom the state governme e city linked cannot the states Ngodo-Lamara civil works in the South-eas on Orie and Cross River to all a very afford the resources Road in Umunnoc nt regions of Mbom-Ameke-Olo t, South-sou needed to good job on States is Nigeria and hi LGA, rehabi do th that road. the present Umuahia North koro-Umuikae He revealed it litated. The Road, in administrationis the dream of to that the state LGA, Abia establish a States and access $200 megacity that in the state to consultancy Abia/Akwa Ibom section of that million grant government is 59 Developm have a seaport, supervision for the design from the African would road but also industrialnot only sanitation ent Bank (AfDB), and failed that can converge Ohuru Road-aof 7UP/Umuola-Nkw completely, has specifically , storm water clusters the o making into a mega-ind Port Harcourt Obingwa and 5km road linking Aba Elechi it difficu management for rehabilita and Aba ustrial hub. lt for patron among other tion of Port Harcourt and ment Areas. Osisioma Ngwa Local North, Aba is at Govern- the Road, roads in Aba. email:for a confluenc That road eigndesk@thisday would reduce neighbouring s from minutes away when rehabilita Anthony e, just live.com from Ikot-Ekpeabout 40 ing officer, Enukeme, chairman/ Bridge section pressure on the Ogbor ted, well chief operatUmuahia, Owerri, TONNIMAS ne, Port as Cameroon states, as Harcourt, of Aba-Ikot Hill wholly Nigeria Limited, Ekpene Road.

Okezie Ikpeazu, among others. lauded indigenous oil to access of Governor a Aba firm, based office, decried on efforts of the the deplorabl assumption to rehabilitat state’s federal in Aba, federal roads e condition legislators e Abia roads, in the state, of ment in to him, has noting that infrastruc Zacheaus Somorin stifled business which according investelectricity, would ture, especially withagency activities in reports road and Aba, and stream into Cleveland encourage get the country manufacturing ahead Donald Trump’s of told CNN, out of its economic meaning the expensive The city of Cleveland earlier, Amnesty coronation. A day new gear required International, as the Republican is on edge human alterations to event zone, where other potentially the dangerous items starts today. Months convention would rights group, announced it fit over larger officers’ bulletproof far as ideologies for the first vests. This is a of planning go. The last thing crowbars have like knives and that and reassurance particular worry observers to bothtime send trained the we need is been banned. anxious residents, after Dallas attack for anyone the Republican “It’s officials have s from top city and told Democratic convention done little to state’s open carry and given the but it’s legal to bring your guns, either side to have armed. on Wednesday the city reporters on quiet monitor concerns over not responsible was “bound to that’s going to gun laws, which And uphold s to allow police tactics. ,” Loomis make our job licensed firearm said in an interview violent clashesthe potential for very state.” the (open-carry) law in the Officials have owners to Saturday. “That difficult, as we’re standing between law Citizens for Trump, makes enforcement consistently holster their weapons even between them.” pushed in backs the and within have for mayhem. We’re going presumptive which descending on protest groups of it fromback on criticism -- some the convention’s 1.7 square-mile to two very passionate Williams, who nominee the city ahead within groups open on opposite sides posted an and will hold a rally Monday, this week’s Republican of -- that Cleveland’stheir own ranks letter on the of the world National is department hired what executive director has embattled force Convention. as website not properly trained July 6 seeking Selaty described Tim to reassure to CNN as “special or equipped The GOP arrives to keep forces” to help the peace. “We safeguard their amid nationwide in Cleveland planned, have event. we have demonstrations against police have table-toppe ‘what-if’ed,’ we violence and d this from day in the one bracing aftermath to yesterday, of a deadly and everything ambush on police officers earlier that can and will happen this month we have planned in up anxieties Dallas. Ramped Calvin for,” Cleveland Police Chief China has rejected an award following another Williams said by Arbitral the Tribunal catastrophic terror last week. But in the South China “The activities of the Chinese Sea Arbitration, attack on French authorities have been tight-lipped people China in the soil present another an award that about preparation and caused over South China Sea dated back s, with Williams strong indignation and police department challenge to a declining to South China the Philippines in the 2,000 years ago. resentment arbitration by Sea is the territorial the federal oversight currently under “sensitive”to elaborate, citing their from Chinese people and government. to have discovered, China is the first caused by the Philippines’ issue of the Republic then government named, explored after the Justice A statement nature. and exploited Department of the Philippines invasion and illegal The head of Cleveland’s Nanhai Zhudao determined in Xiaoliang, the from Mr. Chao relevant and and reefs occupation of some islands breached the agreement between that it had engaged 2014 Consul waters, and the police the China and of China’s first in “a pattern union, Stephen Loomis, has Consulate General General of exercised or practice of sovereignty and to have (the Nansha Islands)Nansha qundao relevant the Philippines to resolve been a of the use of excessive leading critic of the jurisdiction disputes in the and the issue of city’s planning. Republic of China in Lagos People’s over them continuousl force.” delimitation of South China Despite being Sea through negotiation, said the award y, peacefully some “I am concerned $20 million equipped with a bindingis null and void and has no and effectively and thus establishing in the South China maritime areas against which goes the solemn commitmen bounty including about force. territorial sovereignty prospects of “Territorial issues Sea. demonstrations the motorcycles, horse made by the t “China’s territorial are rights and interests and relevant to the trailers, ting out of hand. getsovereignty United Nations not subject Declaration Philippines in the I am concerned handcuffs and 2,000 new flexible and maritime in the South China Sea. Convention on the about the possibility rights and interest on the Law of sets of protective the Sea (UNCLOS)s Parties in the South Conduct of in Homeland Security of violence,” that his gear, Loomis is worried the South China Sea shall “But China Sea , (DOC), runs colleagues will under ond following the end of the Sec- and the issue of maritime Secretary, Jeh counter to the Johnson told hit the streets no circumstances be affected World War, China delimita- provisions tion has been handicappe restrictive a congression excluded from of UNICLOS al com- governmen d by a bumbling city award. China opposes and by the resumed the exercise recovered and application mittee on Thursday, the the application concerning will never over accept any claim of the UNCLOS t. days before thousands of of arbitral procedures, Nanhai Zhudao of sovereignty dispute settlement or action “They ordered based protesters began violates which on illegally the general practice procedures by (the equipment) the award.” to without occupied by Japanhad been the optional exceptions arbitration shall that measuring anybody,” Proffering during that its war of aggression declaration China he position, reasons for the country’s state consent, be premised on the consulate The consulate furtheragainst China.” to Article made in 2006 pursuant and infringes general said: China’s 298 on stated that the of UNCLOS.” right as crux of the relevant The consulate and a state party a sovereign state disputes between also pointed to UNICLOS that the unilateral out to initiation of choose means of dispute settlement of its own will.

INTERNATIONAL Cleveland on Edge as Republicans Arrive for Convention The city of Cleveland is on edge as the Republican convention starts today. Months of planning and reassurances from top city officials have done little to quiet concerns over the potential for violent clashes between law enforcement and protest groups... Page 59

INTERNATIO NAL

Cleveland on Ed ge as Republicans Convention Arrive for

Why China will Not Accept Awa Tribunal in Sout rd by Arbitral h China

SPORTS NFF to Announce Paul Le Guen as New Eagles Coach Today Nigeria’s football authorities are set to announce Frenchman, Paul Le Guen as the new Manager of the Super Eagles today in Abuja. Le Guen, 52, is expected to assume duty immediately after concluding talks on his contract which is speculated to be in the region of $45,000 per month. Page 62

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MONDAYSPO RT NFF to Ann S as New Eaglounce Paul Le Guen es Coach To day T H I S D AY

•MONDAY JULY 18, 2016

Group Sports Editor Duro Ikhazuagbe Email duro.ik hazuagbe@th isdaylive.com

Duro Ikhazuagb e take care of the salaries of Nigeria’s football national the “No, the are set to announce authorities of Le coaches including that Guen. is not NNPC.new sponsor for Paul Le Guen Frenchman, Eagles,” stressed Discussions Although of as the new Manager of still keeping NFF chiefs are was possible collaboration sports official at the the top final three. the Super Eagles weekend. ongoing as today in Abuja.

More than company outthe name of the newspape at the time Giovanni Solinas, 20 coaches of the press Le Guen, 52, Saintfiet, Kola, Sylvanus Okpala, Hey for NFF had rs speculated that applied for the Super is expected now, it is believed to assume duty Eagles Yusuf,Antoine, Mark Wotte, Ijeh, Vladimir Petrovic-PPeter post from secured NNPC football federation that the to pay which the deal Technical izon, after concludin immediately no problem for a new manager NFF DorianErnesto Paulo Calvinho, Lodewijk de Kruif, will have and Kenichi picking the contract which g talks on his of the Committee Development Miodrag Marin, Le Guen, Yatsuhashi, Bjorn Frank bills shortlisted French Peters Jesic, Perry Hansen, and Ricki Herbert be in the regionis speculated to the Ove Pedersen, “NFF will notcoach. are among of $45,000 month. The Adebayo Lateef those who applied have per with the contract is initially payment of problem for the vacant position. for three years with chances salaries at all. It has Le Guen’s of being renewed secured a based on good deal that will take performance. of that and even care those of other The former coaches team coach Oman national teams,” in the other national qualified the revealed the Indomitable Lions credible of Cameroun source yesterday. for the 2010 THISDAY also South Africa. World Cup in the learnt that new Super Eagles He is also coming to the Nigerian coach going is background job with a rich choice to be accommodated in Brest, Nantes,of also coaching that part of Abuja to ensure he is not Lyon, Rennes and Paris Saint-Germ the target of distracted from qualifying Nigeria ain and Glasgow Rangers in Scotland for the 2018 FIFA World at club level. in Russia.

Cup The other European Qualifying matches of shortlisted along coach group the and Salisu Yusufwith Le Guen begin stage are scheduled to in October for the job, Belgian Tom paired along with Nigeria with Algeria, himself out Sainfiet ruled Camerou n and for the Eaglesof the running According Zambia. to he assumed top post after the company to the source, Bangladesh duty as coach of salaries bankroll the last week. of the new THISDAY coach is not the Nigerian weekend thatlearnt at the Petroleum National the Nigeria Corporation (NNPC) Football Federatio n (NFF) earlier speculation to has secured entered have L-R: Head of Administr a deal that ation, Nigerian will the NFF. a partnership with Tennis Academy, Communications Iyabode SholankeMr. Godwin Kienka; Minister Commission (NCC), , during the THE OPE launch of the of Youth and Sports, Solomon Mr. Kehinde Oladipo; N 2016 2016 edition of the NCC Tennis Dalung; and Director, Director, International Special Duties, League Cup… NCC, Mrs. recently

Stenson Bea Mickelson tots Royal Troon Win at

NPFL: Rang as Wikki Dr ers in Firm Control ops Points

Wikki Tourists Henrik Stenson failed to regain yesterday 39 points. carded a joint record eight-und His 20-under of the Nigeria leadership er-par Tornadoes yesterday to total eclipsed Football Professio Harcourt, win The Open 63 Tiger Woods’ 19-underLeague (NPFL) nal against Wikkiopened scoring the doubleEnyimba recorded three shots after by record through after Issa an enthrallin total in winning par they forced hosts final-round after 21 minutes.Kunle Pillars afterover rivals Kano Osadiaye was also felled g Open at The Tornadoe Niger inside they won 2-1. the box.

St Andrews Charles Henlong Mickelson. tussle with Phil in 2000. in Lokoja.s to a 1-1 draw The NPFL champion The Swede’s equalised In the 90th for Wikki in The Swede, s had similarly minute, Pillars two-time Open63 also beats Wikki is now from close the 64th minute in Kano defeated Pillars 2-1 goalkeeper David of his final 40, birdied four Greg range. five holes to Obiozor pulled off a in the first Norman’s 64 champion the table having second on Rivers United his first major win George’s at Royal St points recorded were truly of the championship.round Chukwude big save to deny in 1993 as the from 26 matches, 44 at home in Championship with an Open final from point-bla Ifeanyi Anaemen lowest points Port Harcourt two when nk behind new 20 under par record score of whileround by a champion a fired range. leaders Stars they defeated Shooting Enyimba ahead , Enugu Rangers. at Royal Troon. his aggregate in the 10th Mickelson, 46, 2-0 only days score 264 beat the of Rivers United after they minute, but veteran striker eliminate and four birdies had an eagle four-roun Australian’s third Adamu Mohamm RESULTS place also stayed in from the d the Ibadan club level d total fellow American in a 65, while the Federation Cup a minute. ed drew Rivers Utd 2-0 same year. of 267, set but with an on 44 points, penalty was third on JB Holmes (69) in inferior goals 3SC shootout.

Uche Stenson difference six John scored Tornadoes 1-1 to Wikki. Enyimba Rivers goals They finished under.

Wikki fourth man becomes the is now fourth were by match winner in the the Ivorian striker over mark as Spain’s on the same the Enyimba 2-1 minute from 73rd Guy Kano Claret Jug in 40 to win with 40 points,on the table and Sergio Garcia (69), and one Frederick Kuemian after Stephen the penalty spot the last six adrift Lobi 1-0 Plateau Pillars six points years - following Obomate Utd Steve Strickerbehind American Ireland’s Northern Enuguof new league leaders with Rivers State Governor brought downChukwude was IfeanyiUbah inside Rangers. Pillars Nyesom Wike Darren 1-0 Elkanemi Like McIlroy,(69). watching in on his way to goal. the box are the stands.

Abia Warrior Jordan Spieth (Sandwich, 2011), Clarke fifth on the standings saved his best 1-0 Wolves Ernie Els This was minutes (Lytham, 2012) with MFM Also for Sunday, round of the week (Muirfield and FC 2-0 Heartland Mickelson after Enyimba yesterday in the American , 2013).

Port a penalty were denied lifting him to Nasarawa 3-0 ’s 68 two over.

Sunshine after Joseph Crowd favourite Akwa Utd 2-3 Rangers Andrew ‘Beef’ Johnston under before got to seven The Nigerian the 27-year-o Londoner faded ld CommissionCommunications has 73 and eighth to a final-day achieved all (NCC) has announced the objectives it was designed Defendin on three under. commended money of N17a total prize the club for “The Tennis to achieve. the outstandi Johnson (71)g champion Zach million a star prize ended one under, of N7 millionwith introducing 45 League is their maintenang facility and Dalung. alongside English the team that for tennis weeks of The duo Andy Sullivan and to the Nigerian implored the nce level and participat Minister Team Tennis wins the 2016 calendar club to play ed in the ballotlater the Essex golferMatt Southgate, Championship. up from 32tennis bigger role in the a the placemen Unveiling who conquered for year developm last testicular cancer. year’s event details of this tennisand is taking topflight of sports in the country. ent into the Blue t of the teams England’s Masters and White round to more cities The Minister club at the at the Ikoyi the across NCC champion extoled the robin groups.

Danny Willett country. for sponsorin the Ministerweekend with The Blue Group closed with “The number level-par 71 g such a of Youth and major historic comprises Sports, Solomon of teams for seven over. a Team Tombim Stenson becomes - Abuja, Team Dalung in also risen from eight to has which has the tennis event Offikwu attendance, the 10 this year.” potential the first Scandinavian President of Executive Vice representDanbatta, who was producing top professionof Lead Way- Kaduna, Team major with golfer to win a the NCC, Prof - Lagos, ed by the Director tennis players al . Umar Danbatta victory at Royal in the near Anambra - Onitsha Team Troon future. , said the of Special Duties, Mrs Henrik Stenson Commission Team Goshen and Iyabo Sholanke, said. was happy with celebrating the - Ilorin while “What I his victory yesterday the White Group profile, organisati Dalung who today has have seen here of Civil is made up on and impact of the took convinced Defence - Kaduna, event which of the Ikoyi Club a tour that the private me Team befor the FCT sec

N17m Prize Mon ey at Stake in

2016 NCC Tenn is League

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MONDAY JULY 18, 2016 • T H I S D AY

NEWS

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

MEND Writes Buhari, Names Diette-Spiff, Tomplolo, Others in Dialogue Team

The Movement for the Emancipation of the Niger Delta (MEND) on Sunday wrote President Muhammadu Buhari, submitting the final list of its dialogue group, Aaron Team 2.

In the letter signed by its spokeperson, Gomo Jomo, published by Premium Times, the group announced the inclusion of the leader of the Niger Delta Dialogue and Contact Group, Alfred Diette-Spiff, as its deputy team leader.

It also named its former Commander, Government Ekpemupolo, alias Tompolo, as representative of Delta State in the dialogue team.

Other members of Aaron Team 2 include: Odein Ajumogobia, team leader, Florence Ita-Giwa, Ledum Mitee, Adolphus Wabara, Ibanga Isine, Alfred Isename and Timipa Okponikpere.

“The Movement for the Emancipation of the Niger Delta (MEND), hereby submits the final

list of members of the Aaron Team 2 dialogue, peace and development initiative inaugurated by MEND on June 12, 2016 to find sustainable solutions to the Niger Delta crisis,” the letter reads.

It said the team’s leader, Mr. Ajumogobia, has unblemished record, character and integrity and is widely respected throughout the entire Niger Delta region.

Besides these qualities, MEND said the former foreign affairs minister appreciated the problems and challenges facing the region.

“He is therefore our chief negotiator in the proposed dialogue with the Federal Government,” the statement continued.

“HRH King Alfred Papapreye Diette-Spiff was the first military governor of the old Rivers State and is currently, a 1st class traditional ruler in Bayelsa State. He is the Deputy Leader of the Aaron Team as well as the representative of the Niger Delta Dialogue and Contact Group (NDDCG).

Gbajabiamila: Proposed Amendment of Immigration Act, Not Discriminatory Damilola Oyedele in Abuja The Majority Leader of the House of Representatives, Hon. Femi Gbajabiamila, has addressed the fears that the proposed amendment to the Immigration Act would discriminate against expatriate workers, stating that it would rather ensure that sectors where Nigerians are skilled are not taken over by foreigners.

The intention, he explained, is to ensure that the hospitality of the Nigerian government is not exploited by taking away jobs that ordinarily should be available to Nigerian workers, whether skilled or unskilled.

Gbajabiamila said this in a position paper to clarify some salient issues raised over the proposed amendment to the Immigration Act which passed through second reading in the House last week.

“From Phillipino nannies, artisans and tillers to pilots and mariners, to bank MDs and oil workers. Most of our top hotels in Nigeria are managed by

foreigners, yet we have Nigerians who are professionally qualified to do same. It is not unusual and is even normal to see Chinese labourers on construction sites.

Many have even said (though I find it difficult to believe) that prisoners are brought from other countries to come and work in Nigeria,” he said.

He also described as misplaced, fears that the amendment negates the policies of free trade and would discourage foreign investors.

He explained that the bill seeks to ensure that two conditions must be fulfilled before a company can obtain expatriate quota.

“There must be no Nigerian qualified in the field or...if there is any, he or she must be unwilling or unavailable to do the job,” he said, adding that Nigerians must be given the right of first refusal.

Gbajabiamila said the proposed amendment seeks implementation against all sectors of national economy.

Obasanjo Visits Sokoto, Commiserates with Sultan, Shagari over Shinkafi’s Death Former President Olusegun Obasanjo has described the late Umaru Shinkafi as a committed nationalist who worked tirelessly for the unity and development of the country.

Speaking in Sokoto yesterday when he paid a condolence visit to the deceased’s family and the Sultan of Sokoto, Obasanjo said Shinkafi’s death and that of Maiduguri-based elder statesman, Shattima Ali Monguno, have robbed the country of honest voices who still had a lot to offer the nation.

He said even though we cannot question the work of God, present

leaders should emulate both Shinkafi and Monguno in their dealings with other Nigerians.

Governor Aminu Waziri Tambuwal thanked Obasanjo for the visit, and prayed to God to reward him accordingly.

On his part, the Sultan of Sokoto, Alhaji Muhammad Sa’ad Abubakar III, commended Obasanjo for his gesture of friendship, adding that Shinkafi lived a worthy life of service to his country.

Obasanjo equally paid a visit to former President Shehu Shagari and prayed to God to grant him good health.

“Consequently, the NDDCG, as the name connotes, shall serve as the contact and clearing house for all mushroom and internet-based militant groups in the region; all aggrieved oil-bearing and coastal communities affected by the menace of oil spillage and related environmental challenges. The NDDCG shall also accommodate all repentant Niger Delta activists, elders and tribal assemblies who actively supported the neglect and corruption perpetrated during the era of former President Goodluck Jonathan but who are now ready to join hands with your Government to bring peace and development to the region.

“However, Senator Florence Ita-Giwa from Cross River state shall be representing all Bakassi militant groups and aggrieved communities from that axis of the Niger Delta, who see her as their mother.

“Former Senate President Adolphus Wabara is in the Aaron Team to represent Abia and Imo states. He is widely respected across

both states and shall deploy his vast wealth of experience for the benefit of the dialogue, peace and development initiative.

“High Chief Government Ekpemupolo’s inclusion in the final list was principally because of the key role he continues to play in the Niger Delta as a notable ex-militant leader; philanthropist; traditional title holder and mobilizer of amazing capacity. It will therefore be counter-productive if the Federal Government ignored such an individual who may be capable of talking to the militants in the creeks to ceasefire.

“We are very much aware of the pending criminal charges filed against Government Ekpemupolo by the Economic and Financial Crimes Commission (EFCC).

However, we strongly advice that the charge be suspended until after the conclusion of the Aaron Team assignment. This is to ensure that Mr. Ekpemupolo devotes his time, energy and resources towards the resolution of the current Niger Delta crisis without any fear of arrest,

intimidation or harassment.

“Your Excellency, the MEND Aaron Team 2 dialogue and peace initiative would not have materialized if not for the tireless work and support of the Okah brothers – Henry and Charles who are currently in prisons in South Africa and Nigeria, respectively.

It is our humble submission that the release of the Okah brothers is a crucial factor in the peaceful resolution of the Niger Delta crisis.

“If Senator Ali Ndume who is still facing a terror charge of sponsoring Boko Haram can be granted bail by the Judiciary and thereby, permitted to participate in nation-building at one of the highest levels as Majority Leader of the Senate; then we see no reason why the Okah brothers who have enormous capacity to help Government bring the Niger Delta crisis to an end are still held in prison.

“Sir, cases abound in history where prisoners were released from

prison to help save the nation in times of crises. Examples include the likes of the Hebrew slave Joseph who was released from prison to help save ancient Egypt from famine. Nelson Mandela was also released from prison in 1990 to help restore multi- racial democracy in South Africa in 1994.

“We therefore urge the release of Messrs Henry and Charles Okah similarly as former President Olusegun Obasanjo was released from prison to become President and help to nurture the then nascent democracy in 1999.

“Finally, Your Excellency, the MEND Aaron Team is fully ready to partner the Federal Government to bring peace and development to the Niger Delta region. We therefore urge Government to contact Team Leaders Mr. Odein Ajumogobia, SAN and/ or HRH King Alfred Diette-Spiff to flag-off the commencement of the peace process. May God bless the Federal Republic of Nigeria.”

CELEBRATING WITH A FRIEND AT50

L-R: FormerVice-President, Alhaji Atiku Abubakar; Governor of Ogun State, Senator Ibikunle Amosun; and the celebrant, Mr. Uyi Giwa-Osagie, at his 50th birthdaypartyinLagos....weekend

Gunmen Storm Iba Community, Kidnap Traditional Ruler in Lagos Police foil kidnap attempt on NUPENG Chairman Chiemelie Ezeobi Some armed gunmen at the weekend stormed the Iba Community at the Iba Local Council Development Area of Lagos State and kidnapped the traditional ruler, Goriola Oseni.

According to an eyewitness account, the gunmen, numbering about 16, had stormed the community in two boats and announced their presence by shooting sporadically into the air.

Although details of the attack were still sketchy at press time, it was gathered that the gang had killed a member of the local vigilante and also allegedly shot and injured the wife of the traditional ruler.

After terrorising the community,

the gunmen made away with the traditional ruler and left in their boats through.

Meanwhile, the combined effort of operatives of the Rapid Response Squad (RRS), the Ikorodu Police Division of the Lagos State Police Command and some local vigilante at the Ikorodu area of the state, yesterday night foiled a kidnap attempt made on the Petroleum Tanker Drivers (PTD), Chairman of Nigerian Union of Petroleum and Natural Gas (NUPENG) workers.

The 10-man gang had accosted the NUPENG chairman right in his home and had riddled his door with bullets while trying to gain access and when the kidnap attempt failed, they escaped with a car and two motorbikes.

The kidnap gang had targeted

the NUPENG Chairman, Rasaq Alabi, and would have successfully whisked him away to unknown parts but for the quick response of the police team led by the RRS Commander, Olatunji Disu, an Assistant Commissioner of Police.

The operatives, while responding to the sounds of sporadic gunshots at Agbede at the Owutu and Agric Area of Ikorodu, at about 11.30p.m. at the weekend, had run into the gang and foiled their attack.

Speaking on account of anonymity, a senior police officer who spoke to THISDAY said: “We were alerted about some sporadic shooting at Ikorodu.

Our men were deployed there and they discovered that it was a kidnap attempt.

“The target was the NUPENG

PTD Chairman, Rasaq Alabi. With the help of the local vigilante, we were able to repel the gang and foiled the kidnap attempt.”

When contacted, the RRS Commander, ACP Olatunji Disu, said: “We arrived at the Agbede area of Owutu in Ikorodu with the Owutu divisional police officer and discovered the shooting was an attempt to kidnap NUPENG PTD Chairman, Rasaq Alabi.

“It was the quick response of the police and vigilante men that scuttled the kidnap attempt but the gang escaped.

“We were also there to carry out the Commissioner of Police, Fatai Owoseni’s directive to secure and patrol the crises areas of Ikorodu and it paid off as we were able to respond in record time.”

T H I S D AY MONDAY JULY 18, 2016

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T H I S D AY • MONDAY JULY 18, 2016

COMMENT

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

UNFOLDING HUMANITARIAN DISASTER IN IDPS CAMPS Emmanuel Ojeifo argues government must devise a new strategy to address the unfolding humanitarian disaster

“We estimate that there will be almost a quarter of a million children under five suffering from severe acute malnutrition in Borno this year. Unless we reach these children with treatment, one in five of them will die. We cannot allow that to happen.” – Jean Gough, UNICEF Nigeria Representative (unicef.org/July 1, 2016)

I

f you can form a mental picture of the acute social dislocation and psychological trauma that millions of Internally Displaced Persons (IDPs) are suffering in the various refugee camps across the nation, especially in the North-East, after the ravages of Boko Haram, you will immediately understand how grievous it is for anyone to steal from those poor fellows who are at the margins of life, struggling to stay alive. Reading the national newspapers on Sunday July 10, 2016, brought that stark reality to my consciousness.

The Guardian Newspaper of July 10, 2016 reported that 71- trailer load of rice and other grains meant to ameliorate the hardships of IDPs in Adamawa State “actually arrived the state only for the items to develop wings two days after the Deputy Governor, Mr. Martins Babale, flagged off the ceremony marking the distribution of the consignment, without getting to the IDPs camps.”

The Executive Secretary of the Adamawa State office of NEMA, the federal agency responsible for distribution of relief items in times of humanitarian emergencies, reported that “his agency, which is in charge of managing IDPs in the state was not involved in the distribution of grains from the federal government to the state.” In his words, “I cannot tell exactly what went wrong with the distribution… But we were not involved in the recent exercise.” This raises a very serious question: Who are those morally bankrupt persons stealing what is meant for IDPs? In the same The Guardian, another news report titled “Double Trouble for Displaced Persons” on page seven had it that “In camps for displaced persons in Taraba State, there are allegations of diversion of relief materials… Food items donated by various non-governmental organisations (NGOs) hardly reach the intended recipients.” A displaced person in one of the camps told a reporter of Premium Times the stark reality: “We have lost count of people that have died so far in this camp. It is really a messy situation when you have to pick corpses of malnourished persons every day; sometimes some of the dead ones may not even be discovered on time. The theft is not restricted to food items alone; drugs, toiletries, beddings and wrappers have been diverted to the market and sold by greedy officials.”

Let us move to Benue State. In the aftermath of the farmersherdsmen crisis in Agatu, the destruction of sources of livelihood and the displacement of many people, 300 bundles of sheets of zinc donated by the T.Y. Danjuma Foundation to the community to assist in rebuilding destroyed homes has created new trouble. Daily Trust Newspaper of July 10, 2016 reported on page 19 that “the immediate past chairman of Agatu Caretaker Committee, Joseph Mgbede, is accused of cornering

ALTHOUGH NIGERIA HAS THE LARGEST ECONOMY IN AFRICA, IT ALSO HAS ONE OF THE HIGHEST NUMBERS OF SEVERELY MALNOURISHED CHILDREN IN THE WORLD: APPROXIMATELY 24% OF CHILDREN UNDER FIVE YEARS OLD – MORE THAN A MILLION CHILDREN – SUFFER FROM MALNUTRITION

100 bundles to himself. Mgbede denied the allegation.” Whatever the truth is, stealing from the poor and vulnerable is a grave sin. It is the height of moral and spiritual corruption. The Christian Bible vehemently frowns at this and is replete with curses of doom for those who exploit and oppress the poor. Add all of these national humanitarian disasters to the unfolding security emergency occasioned by acute food shortage and malnutrition in IDPs camps in the North-east and you produce a cocktail of ticking time bombs.

Already reports by international aid agencies have revealed that three million people in the North- east are in dire need of food, health care and other humanitarian aids. The level of malnutrition and starvation is said to have reached an all time high. A rapid screening of children under five performed by Action Against Hunger in Borno, Adamawa and Yobe States – the three states most affected by the Boko Haram insurgency in the North-east indicated that “some areas could be at above crises levels, with nearly 30 per cent of 4,445 children screened suffering from global acute malnutrition. As a result of the ongoing conflict, people who were already chronically food insecure could remain vulnerable to emergency levels of food insecurity for many months to come” (actionagainsthunger.org).

A May 2016 report of the UN World Food Programme (WFP) titled “Nigeria in Crisis” stated that “Nearly half a million people – refugees, returnees, IDPs, as well as local communities – face an acute food security and livelihood crisis. As the lean season peaks, their numbers are likely to rise. The capacity of health centres is already stretched and the coming rainy season will further aggravate an already precarious health and nutrition situation” (wfp.org). The United Nations has also warned that some 50,000 children could starve to death this year in the North-east state of Borno alone, unless urgent steps were taken to avert this humanitarian disaster. Daily Mail, a British newspaper reported that according to Medecin Sans Frontieres (MSF), an international medical charity organisation, “at least 188 people died in the camp of Bama between May 23 and June 22, mainly from diarrhoea and malnutrition, while more than 1,200 graves, many of them for children, have been dug near the camp in the last year.” MSF called the situation in the North-east “a catastrophic humanitarian emergency.”

Although Nigeria has the largest economy in Africa, it also has one of the highest numbers of severely malnourished children in the world: approximately 24% of children under five years old – more than a million children – suffer from malnutrition. Underneath the statistics lies the pain of human tragedy that is unfolding before our very eyes. The federal government must devise a new strategy to address this unfolding humanitarian disaster, which can give way to unprecedented social explosion. We certainly have a long way to go in terms of pursuing the programmes of reconstruction, rehabilitation and reconciliation (3Rs) of the entire North-east. Nothing less than a revolutionary Marshall Plan is needed to bring that region back to life from the brink of catastrophe.

Ojeifo is a Catholic priest of the Archdiocese of Abuja

DEEPENING THE NIGERIAN CAPITAL MARKET

Yakubu Dogara, Speaker of the House of Representatives, said more could be done to strengthen the capital market and buoy investors’ confidence, writes Turaki Adamu Hassan

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r. Yakubu Dogara, Speaker of the Federal House of Representatives, made history on Friday, July 8, 2016, when he became the first presiding officer of the National Assembly to visit the Nigerian Stock Exchange (NSE) and to sound the closing gong to signal the end of the trading on its floor.

But while his visit was a new development, it is well known that since his emergence as the Speaker of the Green Chamber last year, Dogara has been very active in championing calls for the revival and deepening of Nigeria’s capital market.

The NSE is not in its best of times. The market is yet to recover from the global financial meltdown of 2008 which resulted in over N10 trillion being lost by hapless Nigerian investors. Sadly, efforts to investigate and bring all those responsible for the crash to book for their actions or inactions have been frustrated by powerful forces, leading many Nigerians, especially the middle class, to stay away from the NSE after losing their life savings and pensions to the fraudulent activities of insider abuses and other infractions by some operators.

The situation is worsened by the fact that recent studies have shown that whether in rich or poor economies, there is growing concern over increasing income inequality: incomes of the wealthiest few are rising, whilst the incomes of the majority poor are not just stagnating but shrinking, resulting in growing wealth and income inequality.

In fact, it was Thomas Piketty, who said that inequalities of wealth and income are influenced by a host of institutions especially political institutions because markets, when left to their own devices, tend to produce a high degree of inequality. This explains why wealth tends to accumulate

and concentrate at the very top of the income distribution and to tame the worst effects of market inequalities requires active political intervention as is being championed by Dogara.

It is no longer news that over 100 million Nigerians live below the poverty line according to the 2010 report of the National Bureau for Statistics and with the dwindling revenue accruing from oil resulting in non-payment of salaries by 27 out of 36 states, and almost 500 local government councils, it means more Nigerians are being plunged into poverty. This calls for desperate and urgent measures by political institutions to diversify the economy, create wealth, and reduce income inequality. There is therefore the urgent need to deepen the capital market and make it attractive to the ordinary Nigerian who can eke a living doing daily trading.

Not new to the happenings in the stock market, having served in the committee of the house that investigated the events that led to the crash of the market, Dogara, has consistently advocated for measures that will deepen the market and return investors’ confidence.

It is his conviction that democracy, the best system of government ever to be invented by mankind, can only function effectively and deliver on its promises of life, liberty and the pursuit of happiness when wealth is created and deliberately allowed to trickle down to the ordinary people. He believes strongly that this can be achieved through the capital market.

For him, a situation where a large chunk of the nation’s resources or capital is heavily concentrated in the hands of few chief executive officers would further widen the inequality gap, eliminate the middle class and plunge more people into abject poverty, thereby posing serious threat to the sustenance and survival of democracy.

He has made it known in different fora that the skewed distribution of wealth is even more worrisome because the flow of resources from Nigerian citizens to multinational companies operating in the country that makes them rich but unfortunately, these same companies, rather than invest in the NSE and grow the economy of Nigeria, would rather repatriate their profits to their own countries without investing a dime back in the system.

On many occasions, the speaker has made his position on this sad trend clear, sounding it out to anyone that cares to listen that major extra-ordinary measures would have to be taken by the parliament and indeed all political institutions in the country to compel the multinational companies with interests in oil and gas and telecommunications to get listed on the NSE. His argument is simple: foreign telecommumication companies which have been operating in the country since 2001 have not only been declaring huge profits, but are also listed in their countries’ stock exchanges and have continued to rebuff calls for them to list in the NSE. Furthermore, Dogara has noted that ironically, it is only from the patronage they get from Nigerians that they make this huge profit, which explains why even though Nigeria is the largest economy in Africa, its capital market ranks third, a very big anomaly.

Speaking when he sounded the closing gong of the Nigerian bourse on July 8, 2016, he said that the parliament would strengthen the capital market laws to empower regulators to sanction erring operators.

The speaker told the market operators that his visit underpinned the fact that the House pays serious attention to the Nigerian capital market and that for the market to take its rightful place, drastic

measures must be adopted. He said having rebuffed calls for them to list on the stock market, it was now time to get these companies to comply by adopting the carrot and stick approach.

Dogara also charged the capital market regulators to be on top of their responsibilities in order to boost investors’ confidence in the market. To make them more efficient, he said regulators would be empowered to sanction operators that arbitrarily abuse the market so as to regain investors’ confidence.

He said it was important to regain investors’ confidence and give them the needed assurance that anyone who perpetuated infractions in the market would be dealt with. According to him, this would also serve as a deterrent to others who may want to scam investors in the future.

He said insider dealings were the major cause of capital market crash, noting that people that abused the market in the past were not adequately sanctioned. “We need to deepen the market, we need to create and sustain confidence in the market and for confidence to come back, we need to do more. When we start sanctioning, confidence will come back,” he declared.

One thing that emerged from the visit is that unknown to many, most of the privatised public enterprises were actually mandated to list certain percentage of their shares on the NSE as part of the sales and purchase agreement. Regrettably, none of the companies listed, in contravention of the sales and purchase agreement they signed with the Bureau for Public Enterprises (BPE). Aigboje Aig-Imoukhuede, NSE’s council president, described Dogara’s visit as historic, noting that the house under his leadership had shown concern about the economy and the capital market.

Hassan is the Special Adviser on Media & Public Affairs to Yakubu Dogara

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T H I S D AY MONDAY JULY 18, 2016

EDITORIAL THE NIGERIAN BUSINESS ENVIRONMENT

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There is need to pursue smart and business-friendly reforms

t should worry the authorities that the latest ranking on the “Ease of Doing Business” puts Nigeria at number 169 on the list of 185 countries assessed. The report, entitled “Doing Business 2016: Smarter Regulations for Small and Medium-Size Enterprises”, based the overall ranking on 10 key indicators: starting a business, dealing with construction permits, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and getting electricity.

The report analysed regulations that apply to a country’s businesses and allowed users to see both the gap between a particular country’s performance at any point in time and to assess the change in the regulatory environment over time. In the current assessment, Nigeria made improvement in the area of registering property and protecting minority investors but when compared with last year’s ranking, it retrogressed in three key indices: getting electricity, access to credit and starting a business. Much more significantly, the country recorded no improvement in five key indicators - trading across IT IS IN OUR ECONOMIC borders, dealing with INTEREST TO FACILITATE construction permits, TRADE ACROSS BORDERS, paying taxes, enforcIMPROVE THE TAX ing contracts, and SYSTEM, EASE THE resolving insolvency.

PROCESS OF STARTING A Against the BUSINESS AND IMPROVE background that the ACCESS TO CREDIT aim of the report is to provide an objective basis for understanding and improving the regulatory environment for business around the world, there are lessons to learn. Indeed, since its first report in 2004, the relevance of the report as a resource for business and its likely impact on the flow of foreign direct investment (FDI) cannot be over-emphasised. Yet, even though it is the largest economy in the sub-region and on the continent, whatever the yardstick applied, Nigeria has not done well in the rankings. At 68.89 per cent and 58.24 per cent respectively, South Africa and

Letters to the Editor

Kenya were ranked above Nigeria which, at 44.69 per cent, fell below the regional average of 49.66.

It is noteworthy that before the recent slump in oil prices which in turn led to the foreign exchange crisis, Nigeria was gradually improving on the ease of doing business ranking. For instance, the country had improved significantly in the area of access to credit ranking as it moved from 125 in 2014 to 52nd position last year. But all that seems to have changed dramatically. On the overall distance to frontier - which is the distance to the highest performance observed on each of the indicators across all economies – Nigeria did not fare well either. A look at one of the indicators would explain the differences in the ranking of Nigeria and, for instance, a country like Mauritius which continues to do well.

H T H I S DAY

EDITOR IJEOMA NWOGWUGWU DEPUTY EDITORS BOLAJI ADEBIYI, JOSEPH USHIGIALE MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR KAYODE KOMOLAFE CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN

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

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

owever, the report did not measure some aspects also critical to investors such as level of security, macroeconomic stability, labour skills of the population, underlying quality of institutions and infrastructure, or even the strength of the financial system. The focus was primarily on measuring the regulation and red tape relevant to the life cycle of a domestic small to medium-size firm.

What this means is that we can determine our ranking in the next report if we put in place the necessary regulations and take concrete steps to remove the obstacles that hinder the growth of businesses. Two countries embodied how positive reforms could determine a nation’s ranking – Rwanda and Burundi, both of which have implemented such reforms with improvement in their rankings on a yearly basis.

As the largest economy on the continent, it is in our economic interest to facilitate trade across borders, improve the tax system, ease the process of starting a business, improve access to credit, enhance the process of securing construction permits and registering property, initiate regulations that would protect investors, enforce contracts, and resolve insolvency.

What is required is the will to pursue these smart and business-friendly reforms.

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.

LAGOS, RECORD KEEPING, CORRUPTION AND GOOD GOVERNANCE

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ecently, the Lagos State Records and Archives Bureau joined the world to celebrate World Archives Day with the theme: “Corruption and Security Challenges in Nigeria; the Place of Records and Archives”.

The theme was a significant pointer to the corruption and security challenges which have, over the years, stunted economic, political and infrastructural development in the country. No concrete development can take place in any nation where corruption and insecurity are the order of the day.

Over the years, the resources of our country were pillaged by people who took advantage of the culture of impunity that has been entrenched in the system. Corruption had been heightened by a lack of appropriate record keeping mechanism which is a prerequisite for accountability, transparency and productivity.

Corruption and insecurity have, no doubt, done huge damage to the image of the country, thus sending wrong signals to foreign investors and others. This has further complicated the economic woes of our country, with many multinational companies relocating to other African countries. The recent economic woes that have befallen the country cannot be extricated from the backlog of assault suffered by the country under various administrations. Despite cries from concerned citizens on the need to diversify the economy, successive administrations in the country merely paid lip service to the call. To complicate matters, earnings from oil were grossly mismanaged with billions of naira squandered on frivolities. This led to eventual draining of the nation’s foreign reserve.

One major bane of the country, over time, which actually encouraged corruption, is poor record keeping, especially as it concerns

critical national issues. According to the World Bank, there is a significant relationship between record management, accountability and good governance. Record keeping is important because records have enduring values: they help to bridge the gap between the past and the future, providing future generations with relevant information to plan and build on. As it is said, information is key. It also helps in decision making, especially when made available and accessible, as record keeping and management encourage proactive governance.

Lagos State has continued to top the chart in innovative, creative and proactive governance through its lofty ideas, one of which is the creation of the Lagos State Records and Archives Bureau for better management of Lagos State records for planning, policy process, enhanced service delivery and heritage preservation.

This was reiterated by the Lagos State Governor Akinwunmi Ambode, ably represented by the Commissioner for Information and Strategy, Mr. Steve Ayorinde, at this year’s International Archives Day celebration. The state intends to take records and archives to the next level as it plans to fully utilise it for the benefit of the state as record keeping is very important in the progress and development of a mega city like Lagos.

As the theme implied, the state government intends to use the programme to promote record keeping, accountability, transparency and good governance. It is also geared towards awakening the consciousness of leaders, institutions and individuals to the importance of information management and record keeping in the smooth running of the society. This will ultimately help in the fight against corruption and insecurity, as it is being done in developed countries where they are equipped with relevant data and record of individuals. The essence

is to harness such data and record for appropriate use whenever there is a necessity for such. Often these data are used for crime detection and prevention as well as planning and projection.

The importance of efficient documentation mechanism in the fight against corruption and insecurity cannot be over emphasised. Accurate documentation of events, dates and time are not only essential to the judicial process but a necessity for good governance. If justice must be seen to have been served, evidence must be documented and preserved for immediate and future reference.

Today, in our country, and this is rather sad, a lot of cases are endlessly adjourned while some are thrown out of court or even aborted for lack of documented evidence. As such, cases that should be followed to a conclusive end within a short period end up taking decades in court without justice being delivered. There is no way we can effectively fight crime without an institutionalised system of archives and records. Even, technology, which we depend more in modern societies for the tracking of crimes, relies heavily on records.

With effective record keeping and documentation machinery, the rot in our judicial system can be curbed as cases would be successfully pursued in the court of law with little or no delay. Therefore, it has become necessary for our country to have a central criminal registry domiciled in Abuja with the Nigeria Police Force and the AttorneyGeneral of the Federation, where records of all convicts within the states of the federation and the Capital Territory are kept. This will help in the profiling of crime suspects and the smooth sail of the judicial system.

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

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MONDAY JULY 18, 2016 T H I S D AY

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T H I S D AY ˾ MONDAY, JULY 18, 2016

POLITICS

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

T H E M O N D AY D I S C O U R S E

For PDP, the Storm Isn’t Over Yet While a recent meeting between the Ali Modu Sheriff and Ahmed Markafi factions of the Peoples Democratic Party had signaled an end to the hitherto intractable crisis plaguing the party, the sudden turn-around on the understanding reached at the peace parley by the Sheriff group however suggests that the crisis is far from being over, writes Onyebuchi Ezigbo

Mimiko, Makar, Ekweremadu, Sheriff and a PDP member at the reconciliation meeting

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t was a defining moment for the stakeholders of the Peoples Democratic Party (PDP) as the Independent National Electoral Commission (INEC) on Tuesday formally broke its silence on the crisis and controversy rocking the opposition party and recognised the leadership of the National Caretaker Committee led by Senator Ahmed Makarfi.

The decision on which of the leadership factions it would recognise became apparent following its acceptance of the candidate of the Makafi-led caretaker committee, Pastor Ize-Iyamu as the duly elected Edo State governorship candidate of the PDP. This action, thus, temporarily brought to an end, the raging controversy over which of the two contending factions (between Senator Makarfi and Senator Ali Modu Sheriff) can field candidates for elections.

Buoyed by that confidence-boosting pronouncement by INEC, the National Caretaker Committee immediately convened a caucus meeting, where leaders of the PDP from all sides of the divide resolved to hold fresh national convention on August 17 to elect new officers of the party. To cap it all, the Governor of Rivers State, Nyesom Wike was given another chance to host the make

As the party works a tight rope trying to shake off the leadership conflict that engulfed it following the coming of Senator Sheriff, another concern is already buildingup on the fate of the Makarfi-led caretaker and whether they will indeed relinquish their office as planned. But Senator Makarfi seemed to be aware of such fear and has assured that his committee will definitely keep to the time frame allotted

or mar national convention in Port Harcourt, the Rivers State capital.

One remarkable thing that happened at the national caucus meeting was the surprise appearance by a strong member of the Sheriffled group and a chieftain of the PDP from the South-west, Senator Buruji Kashamu, who stormed the venue to declare his support for the Senator Makarfi-led National Caretaker Committee.

While addressing journalists and other party stakeholders, who thronged the Shehu Yar’Adua Centre in Abuja, venue of the epochmaking caucus meeting, Chairman of the committee, Senator Makarfi said the party leaders had resolved to set aside the earlier zoning arrangements put together under the former national chairman.

He said since the party had resolved that its next presidential candidate in 2019 will come from the north, the leaders in their wisdom also agreed that the national chairmanship position will now be zoned to the south. According to Makarfi, caretaker committee will within the next 48 hours constitute a zoning committee to further handle the zoning of other national offices in line with the constitution of party.

Makarfi also said the meeting resolved to propose four different amendments to the

party’s constitution to align it with recent court judgments. And as the saying goes, “once beaten, twice shy”, PDP leaders did not need much prodding to unanimously agreed to amend the relevant sections of the party’s constitution in response to the recent court rulings, which voided the election of the former national chairman, Adamu Muazu in 2014.

Though the court came handy to help resolve the party’s self-inflicted leadership crisis by sacking the recalcitrant Senator Sheriff and his group from office, the leaders also saw the court ruling as something that would have been very embarrassing if it had succeeded in keeping the party out of the Edo State governorship election.

Speaking further on some of the resolutions reached at caucus meeting, Makarfi said the leaders considered and approved four amendments to the party’s constitution.

“We have also discussed and agreed on a new amendment to the constitution in view of recent court judgments in order to align the constitution to the judgments that have been delivered by court of competent jurisdictions.

Equally, we received reports of reconciliation.

You can see by yourself, our brother, friend CONTí D ON NEXT PAGE

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T H I S D AY • MONDAY, JULY 18, 2016

POLITICS/ THE MONDAY DISCOURSE F O R P D P, T H E S T O R M I S N ’ T O V E R Y E T and associate, Senator Buruji Kashamu.

“That is evidence of the reconciliation making progress and I can assure you that we will never foreclose full reconciliation with Senator Ali Modu Sheriff and other persons that may still be associated with him. What we want is an all-inclusive PDP – an equitable, fair and just system in the PDP, where the rights of everyone is protected and preserved.

“We equally have set up a special committee led by DSP Senator Ike Ekweremadu to further cement the reconciliation within the Southwest so that all issues that must have led to the division in the South-west would be resolved accordingly.”

On the issue of fresh zoning arrangement, Makarfi said: “We also discussed about zoning.

Within the next few days, a committee will be set up on zoning. The convention had set aside the previous zoning arrangement, so a new zoning arrangement has to be made.

We have agreed that with the next 48 hours, this committee should be put in place and given a week to come out with a new zoning arrangement.

“But of course, taking a cue from the decision taken at the Port Harcourt convention that the president will come from the north, of course, it is incontrovertible that the chairman of the party will come from the South and it will be open to all and not consigned to any geopolitical zone or state in the South.”

Basking in the euphoria of the apparent progress at reuniting the party, the chairman of the Board of Trustees of the PDP, Senator Walid Jubrin also told journalists that as part of efforts at reconciliation, he and some other leaders of the party spent the better part of Wednesday night and up till 4am on Thursday morning discussing peace with the embattled former national chairman, Senator Sheriff.

He reasoned that the fact that a member of the Sheriff’s camp and someone of Senator Buruji’s calibre has accepted to rejoin the mainstream PDP and support the caretaker committee is a clear sign that the crisis in the party was coming to an end.

“If you see Kashamu coming to our side fully, embracing our national caretaker committee, whatever this group says will be acceptable to him. We have been meeting with Sheriff. Even yesterday, we spent until 4am this morning.

And there is progress with Sheriff. He is a human being and I am sure he will follow suit.”

On the withdrawal of litigations in court and whether a lasting peace could be achieved before the August convention, Jibrin said: “What other kind of concession than for somebody to come on his own to announce that he is in support of the caretaker committee?

We have been meeting with Sheriff up till 4am this morning. At the appropriate time, Sheriff himself will be with us,” he said.

Among those who attended the meeting were governors Ayo Fayose (Ekiti), Nyesom Wike (Rivers), Ibrahim Dankwanbo (Gombe), Dairus Ishaku (Taraba), Dr. Olusegun Mimiko (Ondo), Deputy Senate President Ike Ekwerenmadu; Senators Andy Uba and Jonah Jang, Jerry Gana, Senator Adolph Wagbara, Tom Ikimi and Senator Atanatius Achaleonu.

Others were former Governor of Niger State, Babangida Aliyu, Okwesilieze Nwodo, Uche Secondus, Prof. Rufai Akali, Bode George, Ambassador Aminu Wali, Amassador Wilberforce Juta, Senator Buruji Kashamu and Senator Ibrahim Mantu.

As the party works a tight rope trying to shake off the leadership conflict that engulfed it following the coming of Senator Sheriff, another concern is already building-up on the fate of the Makarfi-led caretaker and whether they will indeed relinquish their office as planned. But Senator Makarfi seemed to be aware of such fear and has assured that his committee will definitely keep to the time frame allotted to it to organise a national convention and leave.

He enjoined stakeholders of the party to reawaken the accommodating spirit with which the party was noted for in order to win more people over.

While speaking yesterday when stakeholders of the PDP from Kwara State paid a courtesy call on the national caretaker committee, Makarfi said the recommended approach would help the party win more states in the 2019 general election.

“We don’t belong to sit-tight leaders. We have been saying that even if by today our services are no longer required, we will quit.

Others left before us and others will leave after us.”

INEC’s Hammer on Sheriff’s Camp As the deadline for the submission of candidate’s name to the INEC for the Edo State governorship election came to a close last week

Kashamu, Mimiko and Fashola at the South-west peace meeting

Tuesday, anxiety gripped stakeholders overs fears that the PDP leadership tussle might eventually cost it the opportunity of fielding a candidate in the Edo State gubernatorial contest. Both parties to the conflict in the PDP had prepared for the worst having produced their governorship candidates and were set to summit same to the INEC that Tuesday in order to beat the deadline.

So everyone was waiting to hear from INEC as the final arbiter under the circumstance.

But it was the Makarfi-led PDP leadership that smiled in the end as INEC recognised its candidate, Pastor Osagie Ize-Iyamu and left the Sheriff’s camp in a near mourning mood.

A late evening text message from the Deputy Director, Publicity and Voter Education of the commission, Mr Nick Dazang was all that was needed to put an end to the controversy. He said the commission has received names of 19 governorship candidates from 19 political parties, including the candidate of the PDP, Pastor Ize-Iyamu.

“As at this evening, we received 19 candidates from 19 political parties for the Edo State governorship election. This includes the candidate of the Makarfi-led faction of the PDP. We received the candidate of the Makarfiled faction because of the Port Harcourt Court Judgment plus the fact that we monitored its primaries.”

The spokesman of the PDP caretaker committee, Dayo Adeyeye had earlier told journalists that the party had submitted the name of Ize-Iyamu as PDP candidate to the INEC for the Edo governorship election and that all was left in the hands of the commission to decide.

Also, the Secretary of the committee, Senator Ben Obi confirmed that the name of the party’s candidate for the Edo State gubernatorial contest, Ize-Iyamu was submitted yesterday by the Markarfi-led leadership of the party.

When asked about situation of things, Obi said, “Yes, we have submitted Pastor IzeIyamu’s name to the INEC and the commission received it today (Tuesday)”.

It was gathered that INEC which has been applying the waiting game on the legal tussle between the feuding PDP leaders got swayed on Tuesday when it was handed the certified true copies of the various judgments that had ruled in favour of the Makarfi-led caretaker committee.

A source within the ranks of the Sheriff faction, who did not want his name mentioned, confirmed to THISDAY yesterday evening that they had suffered a setback and that INEC has opted to recognise Ize-Iyamu as the PDP governorship candidate.

Is Sheriff Still Holding Out? Barely 36 hours after the PDP zoned its national chairmanship to the South and declared it had not foreclosed full reconciliation with the Sheriff faction, the Sheriff group said yesterday that it had not reached any agreement with anybody. PDP had at its expanded national caucus meeting heard on Thursday in Abuja that the presence of Senator Buruji Kashamu, a strong supporter of the Sheriff faction was the evidence that its reconciliation effort was making progress.

However, while speaking on the reconciliation at the weekend, Sheriff insisted that they are still pursuing their cases in court, adding that he would address a press conference on the state of the party on Monday.

Sheriff did not speak directly but through his deputy, Dr. Cairo Ojougboh, but it was not clear whether the former governor of Borno State actually felt strongly about continuing with the struggle to retain his office.

Ojuogboh said “I have the express permission of Sheriff to inform our teeming supporters and PDP faithful nationwide that

he has not reached agreement with anybody, neither has he permitted anybody to conclude on any processes on his behalf.

“We are continuing with our cases in court.

We respect the rule of law. Sheriff will address a press conference on Monday on the state of our party, PDP. Our goal remains to return the party to the people and stamp out impunity. It was gathered that few days ago, some leaders of the party had met with Sheriff to find a lasting solution to the crisis bedeviling the party,” he said.

As Peace Returns to South-west However, in line with the spirit of reconciliation currently catching up with stakeholders, the PDP in the South-west at the weekend came close to resolving the intra party crisis rocking the zone. Notable leaders of the party, such as Governor Olusegun Mimiko of Ondo State, Governor Ayo Fayose of Ekiti State and Senator Buruji Kashamu met at the Ondo State Governor’s Lodge in Abuja, where they agreed to drop all their differences and to allow peace to reign.

Among the resolutions reached at the peace meeting are that henceforth, none of the leaders should interfere in the affairs of any state apart from their home state and that the State Executive Committees as presently constituted and approved by the NEC before the botched National Convention in Port Harcourt, Rivers State, in Ogun, Ondo and Ekiti states should remain.

Other decisions reached during the peace deal are that the State executives of the PDP in the three other states of Lagos, Oyo and Osun states will be harmonised and consolidated.

It was further agreed that the leaders should always consult among themselves and work harmoniously together, going forward in order to ensure the peace, unity and progress of the people and party in the South-west.

T H I S D AY MONDAY JULY 18, 2016

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MONDAY, JULY 18, 2016 • T H I S D AY

FEATURES

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

Taking Environmental Cleanliness to Makoko The wellness walk and sanitation exercise organised recently by FmACL in Makoko, Lagos, has motivated women in the community to intensify action on their environment, Peter Uzoho and Ugo Aliogo report

Makoko women creating awareness on cleanliness

I

t was a sort of operation show your neatness outside at Makoko, a slum community bedevilled by the harsh effect of unclean environment in Mainland, Lagos.

Although the women living in Makoko have been striving to control the incidence of dirt in and around the community, through the compulsory weekly sanitation exercise, but that could only achieve little or nothing owing to the fact that one vital area has not been worked on and incorporated into the exercise. And that was the mind of the people of the community which was only set towards keeping the inside of the rooms clean while leaving the outside to take care of itself.

However, that caught the attention of FmAdabale Consulting Limited, who through its community tour and sensitisation programme, decided to intervene to help the people have a different understanding of keeping environment clean.

So to FmACL, there was no better way to mobilise people to action than by using an organised women group in the community, who are known to be very powerful in stimulating others to take action.

Consequently, the wellness walk and sanitation exercise carried out recently round Makoko community saw women turn out in large numbers, dressed in white T-shirts customised for the outing, carrying placards with varying inscriptions such as ‘keep your environment’, ‘health is wealth’, ‘always clean up your mess’, among others.

Accompanied by drummers and trumpeters, the women swirled and twirled at some points intermittently to show their excitement and willingness in the exercise.

The walk which started from Apollo Street terminated at Church Street junction, Makoko.

Managing Consultant, FmAdabale Consulting Limited, Mr. Olufemi Adabale, said the exercise was part of the community tour and sensitisation programme of the organisation which used to contribute to the development of Lagos State. He revealed that a recent survey carried out by the organisation showed that there were communities in the state who were not being remembered in the scheme of things and Makoko happened to be among them.

“Last year FmACL came with the initiative of community tour and sensitisation after we carried out a base-line survey of about 14 local governments in Lagos State and a number of communities, we interfaced with these 14 LGAs ranging from about 4 to 10. We worked with the Directors of Dr. Akinwunmi Ambode Campaign Organisation then. So in the course of carrying out this survey, there are a couple of things we discovered in communities within Lagos. We discovered that most of the communities are left behind; they are not being carried along in the mega city project of Lagos,” Adabale said.

“So the community tour and sensitisation is an initiative of FmACL which we want to use to contribute our own quota towards the development of Lagos State,” he added.

Telling more about Makoko and why they chose it as one of the communities to visit with the wellness and sanitation programme, Adabale said “What made us to come to Makoko is that Makoko happened to be one of the communities we have worked with and when we discovered that when

By the time the women of Makoko come out we are going to organise them to pack dirt. They will pack gutters, pack their dirt, once it has been packed those that have shops directly in front of these gutters are the ones to pack the dirt into the sacks. Now this is going to be a periodic exercise, we are looking at working with the women in Makoko on monthly or quarterly basis

Makoko women taking the message of cleanliness to homes you’re coming to Makoko through Iwaya Road or through Adekunle Estate, you see dirt everywhere. But if you’re privileged to enter the houses and rooms of this people you will discover that it may look small and scanty, but they keep them neat and tidy. So we now thought that the neatness they have inside, let’s try and help them show it outside.

“Often times they wait for government and government doesn’t come. So that was why we engaged the youth and the women folks. Today, we’re looking up to the women in the wellness walk. Today’s programme is called wellness walk and sanitation. So they’re channelling their energies outside of their living rooms,” he said.

Explaining further on the shape the clean-up exercise would take, Adabale said “By the time the women of Makoko come out we are going to organise them to pack dirt. They will pack gutters, pack their dirt, once it has been packed, those that have shops directly in front of these gutters are the ones to pack the dirt into the sacks. Now this is going to be a periodic exercise, we are looking at working with the women in Makoko on monthly or quarterly basis.”

According to him, “The effect is that by the time women come to pack your gutter for you, and then you will discover that before you can throw any trash inside the gutter, you will think twice. Because you will have at the back of your mind that women within this community have come out to pack your gutter for you. So the sense of having to drop trash in the sacks provided for you will be there. Also by the time you see them pack the gutter consecutively for two or three months you have to think twice before putting anything inside the gutter.

“We are looking at getting a bigger trash can that can be customised for their use, but by and large the idea first is to work on their mind-set on the habit of trashing their dirt.

In the long run, perhaps, six months from now, we begin to get bigger trash can. And mind you the habit we are trying to build is that we don’t want a situation whereby they will pack dirt and it will overflow and they start packing it all over again.”

Adebale pointed out that they had partners

who had been supporting them with some relief materials to achieve their targets. “We do have partners, like last year’s own, part of our partners was FrieslandCampina, producers of peak milk, but this year Cadbury supported us with some relief materials,” he added.

Also speaking, Founder and Leader of Iya- ni Wura, a woman group in Makoko community, Princess Maria Akinbule, said they had decided to help themselves and the government by taking up the responsibility of cleaning the mess in the community, saying that the women do sanitation within the community every two weeks in order to keep their surroundings clean. “We have decided to help ourselves and also help Lagos State Government by cleaning our environment every two weeks.

“Everybody thinks that Makoko is a dirty place, but that’s not true. We want the government to know that Makoko is not a dirty place as people believe. Government should not come and demolish this place for us. Poor people are living here,” she noted.

She explained that the association was formed as a platform for guiding their children on the right way to go for them to be responsible to themselves in future, noting that they have monthly seminar where every mother brings her children for training.

Akinbule who spoke in Yoruba language, lamented that poverty and lack of job for their children who they managed to train in schools was their major challenge, calling on government to come and help them.

“Government should stop playing politics; they should come and help us. We don’t have money, we don’t have food. Our children who we have managed to train in schools don’t have job,” Akinbule lamented.

Also to enable them maintain the regular clean up exercise they have embarked on, she called on government to assist them in the provision of some equipment to make their work easier and faster.

“We want government to assist us in doing this clean-up. We are begging them to provide us with food so that we’ll have the energy to be doing it. They should also give us some equipment like shovels, rakes, wheel barrows, trash cans, cutlasses, hoes, rain booths, hand gloves and other things,” she requested.

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T H I S D AY • MONDAY, JULY 18, 2016

FEATURES

‘It’s Unfair to Blame Shettima for the IDP Humanitarian Crisis’ Dr. Ayoade Olatunbosun-Alakija is the CEO of AOA Global, an international non-profit group with high level global contacts on humanitarian intervention.

Olatunbosun-Alakija who has often visited Borno State, shares her thoughts on the humanitarian crisis at IDP camps Borno State, when she hosted a group of journalists in Abuja. Excerpts: Foundation involved. The ICRC, Norwegian Refugee Council and Dangote Foundation reach IDPs themselves, sourcing and distributing food independently with the state government only coordinating what they do. The state government also reaches IDPs directly. All donors have clearly marked points based on their capacity and the time line they give for their interventions in particular areas.

Nigeria has the third largest population of IDPs in the world, after Syria and Iraq.

Can this report be true?

Yes, that’s correct. When it comes to internally displaced persons as result of conflict and violence, as at December 2015, Nigeria ranked sixth after Syria, Colombia, Iraq, Yemen and Sudan (IDMC,2016). The seven-year Boko Haram insurgency in the North-east accounts for a majority of the IDPs, 95 per cent of whom are in Borno State. As of May 2016, 2.4m people were estimated to be internally displaced persons in Nigeria; of these 1.6m are in Borno State (IOm,2016) The Boko Haram insurgency has precipitated a large scale humanitarian crisis in the North-east and in Borno State in particular.

Around 15 million people have been directly affected, of whom seven million are in need of immediate humanitarian assistance.

In my opinion, Governor Kashim Shettima and team have shown great commitment to containing the crisis. I cannot think of another Nigerian leader who has had to face such a serious and ongoing crisis in recent times.

I have had the opportunity to work with them in a voluntary, humanitarian capacity and they are deeply concerned by the plight of their people. Members of the team have remained resolute despite being subjected to unimaginable horror, tending to survivors and cleaning up the carnage after suicide bomb attacks. This is our 9/11. Without a doubt the worst crisis this country has seen since the civil war of 1967. It is a national emergency, that, in my view, has not been taken seriously enough.

So, what is the current situation with IDPs? The Nigerian military’s recent campaign against Boko Haram has been very successful and for that we commend them. No Local Government Area remains under Boko Haram control, however, some local government areas liberated from Boko Haram control remain heavily militarised because of the threat of guerrilla warfare by insurgents. Like the last thrashing throes of dying beast, Boko Haram has resorted to guerrilla warfare and suicide bombs.

The military has very effectively cut off supply lines to enemy strong holds. However, that has also affected civilian populations trapped behind enemy lines inaccessible by aid agencies due to security limitations. As a result, recently liberated people are emerging in severe states of malnutrition that have only recently become apparent. A number of agencies have now gained access to around 750,000 of the previously hard-to-reach with about 500,000 still behind enemy lines, and, in all likelihood, suffering malnourishment.

Currently, an estimated 1.95 million people in Borno are in need of food aid. Among the IDPs, about 260,000 of these are in urgent need of specialised nutritional support. The response needs to be swift if we are to forestall an Ethiopia like famine.

You have been to Borno State, what did you see and what is your assessment with regards to feeding of the IDPs in the light of cases of malnutrition?

For years, the state government has been feeding IDPs in camps to the best of their ability. Depending on what is largely subsistence farming to feed IDPs has been very challenging indeed - in addition to the fact that some farms are still plagued by Boko Haram landmines.

There have been some donations and my understanding is that all food aid has been distributed to IDPs. Given that approximately 2m IDPs need food, if you do the calculation the three metric tons of food donated, will last less than one month for that number of people.

Also, remember, that with many people recently liberated from Boko Haram strongholds emerging in third stage of malnutrition, specialised nutritional support is required in addition to provision of staples. I have personally interviewed some of those recently liberated from Boko Haram captivity in Sambisa. They indicated that many people

Olatunbosun-Alakija have been hiding out in the bush in fear, having been told by Boko Haram fighters that Nigeria no longer exists and that the last remnants of the country were stragglers of the national army around Maiduguri. Of course this is untrue, but stuck behind enemy lines for more than three years with no access to news reports, the internet or television how were they to know differently?

Now the army is making incursions, these people are starting to appear. Amid the victims of war those bearing the brunt of the crisis were women and children with specific nutritional needs. The Severe Acute Malnutrition (SAM) figures are alarming and soon five children will die every hour if there is a delay to specialised support.

The rate of malnutrition in Dikwa IDP

In my opinion, Governor Kashim Shettima and team have shown great commitment to containing the crisis. I cannot think of another Nigerian leader who has had to face such a serious and ongoing crisis in recent times. I have had the opportunity to work with them in a voluntary, humanitarian capacity and they are deeply concerned by the plight of their people

camp, where team AOA visited in May and expressed the alarm at the conditions there, is actually double that of Bama which has been in the news recently. With rains coming and the lean season upon us, people’s plight has worsened still. A concerted effort is being made but still more needs to be done. The response must be Nigeria “owned and led” and the world will rally round.

But what of allegations of theft and rebagging of food which are being smuggled out?

As someone who has been on the ground and witnessed the distribution of the food aid first hand, I can tell you that allegations of large scale misappropriation are ludicrous at this current time. There have been instances of rebagging reported in the past and offenders were removed.

At the recent high level dialogue in Abuja, the chairman of SEMA gave us an in-depth analysis of the nutritional status of IDPs in the camps. Those receiving local government food support for sometime are not the ones showing severe rates of malnutrition. Starvation is not as a result of mismanagement within camps but an influx of recently liberated captives.

There are many misconceptions about this crisis with arm-chair commentators spewing spurious allegations. From what I know, feeding IDPs isn’t handled exclusively by the Borno State Government. There are five sectors in the humanitarian response, education, health, water-hygiene and sanitation; food security and social protection and all these sectors have local and international partners involved in them depending on their specialty. The UN OCHA is involved with the Borno Government in coordinating the five sectors.

The sector of food security which deals with feeding has the NEMA, SEMA, the ICRC, the WFP, the Norwegian Refugee Council, security agencies and recently, the Dangote

So why did you get involve in addressing this large scale humanitarian crisis?

I returned to Nigeria because I wanted to play my part as a responsible citizen. One of most bizarre things I noted on my return, is the number of people asking me why I am assisting in Borno as I don’t come from there. In the words of Martin Luther King Jr “Life’s most persistent and urgent question is, ‘What are you doing for others?’” You don’t have to be within the government, a leader of industry, a billionaire or a celebrity to make a difference.

Anecdotally, we are told that success of a humanitarian intervention is reaching 65 per cent of an affected population. 95 per cent of Nigeria’s IDPs are currently in Borno State. If we solve the situation in Borno, we solve a Nigerian problem. In the words of the Vice-President, “We need a new tribe of Nigerians,” transcending ethic, religious and regional divides. The idea that we only do things for our own tribe needs to change.

Would you suggest other Nigerians do likewise?

I would encourage all Nigerian’s to assist those in need wherever they might find them.

In Borno, at this point in the rebuilding process, it is critical that the response is co-ordinated and proceeds in a strategic and organised manner. Whilst offers of assistance are always welcome, an influx of well-meaning individuals could potentially be counter-productive.

As a medical doctor and a humanitarian, if Borno was considered your patient, what would your prognosis be?

I am very optimistic about Borno’s future.

The people of Borno have shown tremendous resilience in the face of terrible hardship. As first responders to the crisis, communities have been incredible, taking displaced families into their homes despite their own limited resources with many living on less than a dollar a day. With leadership of His Excellency, Governor Shettima and team, support from the Federal Government and the international community, rebuilding progresses as peace returns to the Home of Peace. I am confident that Borno is well on the road to recovery.

Let us rebuild Borno together.

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IMAGES

T H I S D AY • MONDAY, JULY 18, 2016

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

L-R; Head of Media, Nigerian Breweries Plc, Wasiu Abiola; Portfolio Manager, Regional Mainstream brands, Emmanuel Agu; Alaafin of Oyo, Oba Lamidi Adeyemi III; Senior Brand Manager, Mainstream brands, Funso Ayeni and Public Affairs Manager, NB Plc (West and Mid-west), Tayo Adelaja during the visit by the Goldberg Team to the monarch in his Palace, Oyo...recently

R-L: Minister of Information and Culture, Mr. Lai Mohammed; Japanese Ambassador to Nigeria, Mr. Sadanobu Kusaoke and Permanent Secretary, Ministry of Information and Culture, Mrs. Ayo Adeshugba, during a courtesy visit by the Ambassador to the Minister in Abuja...recently ENOCK REUBEN

Kaduna State Traffic and Environmental Law Enforcement Agency [KASTELEA] in collaboration with Federal Road Safety Corp and Nigerian Union of Journalists Kaduna State Council, organized a road walk sensitization rally in Kaduna...recently IDRIS EGAJI

R-L; Former Governor of Jigawa State, Alhaji Sule Lamido; Ambassador lbrahim Kazaure and Col. (Dr) David lmuse during the visit of Lamido to Thisday Headquarters in Lagos...recently ABIODUN AJALA

Charter President, Rotarian Bola Oyebade (left) and District 9110 Governor- Elect, Rotary International, Rotarian Dr Adewale Ogunbadejo during the visit of the Governor- elect to lkeja Rotary club, Lagos...recently

Minister of Communication, Alhaji Adebayo Shittu presenting the Best Softwares Solution of the Year Award won by SystemSpecs to the Team Lead, Brands & Marketing, Systemspecs, Mr. Lanre Adelanwa at the Nigerian Telecom Award Night in Lagos...recently ABIODUN AJALA

L-R: Head, Consumer Sector, Stanbic IBTC Bank, Mr Olu Delano; Chief Operating Officer, Dufil Prima Foods Plc, Mr Madhukar Khetan; Head, Debt Capital Market, Stanbic IBTC Capital Limited, Mr Kobby Bentsi-Enchill; and COO/ Executive Director, Dufil Prima Foods Plc, Mr Adhi Narto, at the signing ceremony of Dufil’s recently established N30b commercial paper programme arranged by Stanbic IBTC in Lagos...recently

L-R; General Manager, Marketing & Corporate Services, Cosharis Group, Mr. Abiona Babarinde; General Manager,Consumer Marketing, MTN, Mr. Richard lweanoge; Product Manager, Samsung, Mr. Taiwo Adediran and Marketing Manager, Lenovo, Mr. Oyekanmi Bolade at the media briefing to announce the upcoming Techplus 2016 Expo in Lagos...recently ABIODUN AJALA

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T H I S D AY • MONDAY, JULY 18, 2016

BUSINESSWORLD NIBOR OVERNIGHT 1-MONTH

R A T E S 17.2133 15.3813

3-MONTH 6-MONTH

A S

16.4187 17.5131

A T

NITTY 1-MONTH 2-MONTH 3-MONTH

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

J U L Y 11.0983 11.1923 11.8659

1 4 , 2 0 1 6 6-MONTH 9-MONTH 12-MONTH

12.5775 14.6496 16.9008

EXCHANGE RATE N292.25 / 1 US DOLLAR* *AS AT LAST FRIDAY

Quick Takes FAAN Trains New Security Personnel

The Federal Airports Authority of Nigeria (FAAN) is training newly recruited security personnel that would help to further fortify the airports.

TheagencysaidthenewlyrecruitedstaffwaspartoftheAuthority’s commitment to entrench safety and security in the nation’s airports.

FAAN’s Managing Director, Saleh Dunoma stated this in Lagos following an unscheduled visit to the FAAN Training School.

The agency is currently training 240 newly recruited employees into the Aviation Security (AVSEC) and the Airport Rescue and Fire Fighting Services (ARFFS).

The first batch of the trainees is undergoing a 12- week induction training, which commenced on June 15, 2016 in Lagos.

Sterling Bank, NASME Hold Workshop

Infractions: NSE Moves to Sanction Directors of Stockbroking Firms

SterlingBankPlcincollaborationwithLagosChapteroftheNigerian Association of Small and Medium Enterprises (NASME) will from Monday July 18, 2016 commence a three-day micro, small, medium enterprises (MSME) workshop for members of the association.The workshop is scheduled to hold at the Federal Institute for Industrial Research (FIIRO) Oshodi, Lagos.

The bank had organised similar workshops in Port Harcourt and Kaduna for MSME operators as part of its nationwide workshop to empower MSMEs.The next workshop will hold in Ibadan, Oyo State.

The bank in a statement made available to newsmen said the workshop would provide participants with the opportunity to fully appreciatetheconceptofentrepreneurshipand betterpositionthem to improve their managerial capacity in the areas of risk management and profit maximisation.

“It will also cover basic accounting skills, customer service and team building, sales and marketing, essentials of business plans and human resources management among others”, the bank added.The Executive Director, Finance & Strategy of the Bank, Mr. Abubakar Suleiman had announced at a press conference earlier in the year that the bank would be anchoring a series of workshops for MSME operators in various states nationwide.

GoddyEgene

Unity Bank Partners Firm

MERITORIOUS AWARD

L-R: Representative of Governor Akinwumi Ambode of Lagos cum Secretary to the Lagos State Government, Mr. Olatunji Bello; Managing Director and Chief Executive Officer, Fidelity Bank Plc, Nnamdi Okonkwo, and the Commissioner for the Environment, Lagos State, Dr. Babatunde Adejare at the 2016 Tree Planting Day where Fidelity Bank won the Award for the Best Green Partner 2015 Tree Planting Campaign in Lagos state…recently

The Nigerian Stock Exchange (NSE) has intensified moves to ensure directors of stockbroking firms are adequately punished for mismanagement of the firms or violation of market rules by the firms.

Currently, Rule 19.4 of the NSE gives the powers to punish only former employees of stockbroking firms that have been mismanaged or exposed to disciplinary action for violation of rules while the directors are left out. It has been observed that directors of stockbroking firms are often quick to resign in instances where the firms have either been mismanaged or exposed to disciplinary action for violation of the rules

CAPITAL MARKET without any form of liability or accountability.

However, the NSE, THISDAY gathered, is making fresh moves to ensure that such directors are held accountable even after they have resigned from the stockbroking firms.

To make this effective, the NSE has proposed an amendment of its Rule 19.4, saying in view of the supervisory role of the Board of Directors over the management of stockbroking firms, it has become necessary to make directors more accountable for the activities of the management whom they oversee.

“Directors are persons duly appointed by the company to

direct and manage the business of the company. However, it has been observed that directors are often quick to resign in instances where the firms have either been mismanaged or exposed to disciplinary action for violation of the Rules without any form of liability or accountability,” the exchange explained.

According to the exchange, the objective of the proposed amendment is to make the rules more encompassing to hold both the management and board of Dealing Member firms accountable for activities which took place during their tenure.

The Speaker, House Representatives Yakubu Dogara, recently said sanctioning operators who

commit infractions would go a long way in restoring investor confidence in nation’s capital market.

According to him, capital market regulators must be on top of their responsibilities in order to boost investor confidence in the market.

Dogara, who was a member of the House Committee that investigated the 2009 crash of the stock market, observed that most of the operators who contributed to the crash of the market went unpunished.

He said investors would have more confidence in the market if they know that antiquate punish would be given to operators who commit infractions in the Continued on page 24

Inflation Predicted to Drop Marginally in June Obinna Chima After an almost unstoppable rise in headline inflation to a record high, the economy may be entering an era of declining rates of inflation, analysts have predicted For the Financial Derivatives Company Limited, the inflation rate for June 2016 expected to be released today may see the Consumer Price Index (CPI) drop slightly from 15.6 per cent in May, to 15.5 per cent.

“If this estimate turns out to be accurate, it will raise some fundamental questions as to the direction of inflation and possible level of interest rates in the money markets.

Headline inflation in Nigeria had almost been loose cannon,

ECONOMY defying most rules of economic gravity and logic.

“The root cause of the near hyper inflation rate can be traced to supply shocks at-times attributable to artificial scarcity compounded by uncertainty in the forex markets. The Big question therefore is whether this drop in inflation is a blip or a point of inflection.

“Economic history has shown that disinflation (a period of declining inflation) is usually a result of adaptive expectations. The theory of adaptive expectations assumes that people form their expectation of future inflation on the basis of previous and present rates of inflation

and gradually change their expectations as experience unfolds,” the FDC stated in a report.

In the same vein, the Economic Intelligence Unit of Access Bank Plc preditced inflation rate (year-on-year) to moderate downwards to 15.4 per cent in June 2016.

They explained that their methodology adopted an autoregressive analysis of past prices, while it recognised all the assumptions used by the National Bureau of Statistics (NBS) in its computation of monthly composite CPI. “Our expectation for a downtick in inflation rate for the first time in 2016 is based on an anticipated downward movement in the food sub-

index and core sub-index.

The slowdown in the pace of advance in the food sub-index would be driven by decline in the prices of food items such as rice, tomatoes, and vegetable oil on the back of availability of petrol which may have aided transportation and distribution of these items.

“The core index should also descend marginally due to slight change in consumer behaviour witnessed during the review period towards imported goods.

Therefore, weak demand for imported items is expected in June as higher prices in the previous month may have caused cutbacks in consumption spending,” they added.

Continued on page 24

As part of its corporate social responsibility (CSR), Unity Bank Plc said it recently partnered with Beibei Haven Foundation, a nongovernmental organisation to organise a ‘Fertility Walk’ in order to raise awareness and funds to assist families with fertility challenges.

The target of this campaign is to assist no less than 20 couples gain access to effective and efficient treatments that could remedy their conditions.

The Executive Director, Secretariat & Service, Unity Bank Plc, Mrs. Aisha Azumi Abraham declared that the bank was aligning with the Beibei Haven Foundation as well as other advocacy groups to alleviate fertility challenges in the society.

She stated that “undergoing fertility treatments such as IVF can provide solution to a lot of couples’ fertility challenges but these treatments are expensive for many. But, at Unity Bank Plc, we strongly believe that there is hope for couples whose primary barrier to fertility is cost.”

FCMB Lists Gains of Electronic Cards

First City Monument Bank (FCMB) has said that holders of its MasterCard, Visa and Verve Cards are in for better value, seamless service and excellent experience following the full implementation of its recently commissioned technology solution, otherwise named, Finacle 10.

The Group Head, Cards and Electronic Banking at FCMB, Mr. John Iwuajokusaid,holidaymakerswillnowhaveaccesstoover850airport loungesaroundtheworldwiththeirprioritypasscard(availableonlyto MasterCard holders) since the cards are acceptable all over the world.

“Compared to generically issued cards, FCMB MasterCard, Visa and Verve cards (Verve is for local transactions only) are configured in variants that suit different lifestyles, usable by all segments of the society and are quite easy and simple to activate.

“This lender of choice with a robust product suite for businesses and individuals alongside its award winning service culture is said to be leveraging diverse capabilities by investing extensively in channels to reach more customers.

“Government should consider making land available for developers to build and sell affordable houses in every state of the federation” Managing Director/Chief Executive Officer, Suru Group,

Mr. Edward Akinlade

24

T H I S D AY • MONDAY, JULY 18, 2016

BUSINESSWORLD INFRACTIONS: NSE MOVES TO SANCTION DIRECTORS OF STOCKBROKING FIRMS

market.

“A lot of things are required to be put in place to return investors’ confidence. The regulators need to be at the top of their job. Sanctions must be imposed on operators who commit infractions so that investors would have confidence to participate in the market.

Even if I am going to lose my money, but seeing that those who perpetuated infractions are being dealt with, maybe to some extent I will have the confidence that the market still retains,” he said.

INFLATION PREDICTED TO DROP MARGINALLY IN JUNE

On their part, FSDH Merchant Bank Limited expects that June 2016 inflation rate (year-on-year) would drop marginally to 15.39 per cent.

They anticipated the marginal drop to come from decrease in the prices of tomatoes, beans and rice. The Food Price Index (FPI) that the Food and Agriculture Organisation (FAO) released this month showed that the FPI increased for the fifth consecutive month. The Index was up in June by 4.22 per cent, compared with the revised value in May as all the sub-indices increased except for vegetable oil index. The increase in the FPI also represented the highest month-on-month increase over the last four years.

“Our analysis indicates that the value of the naira depreciated at the interbank market and the parallel market by 29.64 per cent and 0.28 per cent. The Naira lost N83.87 at the interbank market to close at U$/N282.97 from U$/N199.10 at the end of June.

“The implementation of the flexible foreign exchange policy was responsible for the huge loss in the value of the Naira at the inter-bank market. We believe the depreciation in the inter-bank foreign exchange rate did not translate to an increase in domestic prices because most transactions were earlier carried out at parallel market exchange rate.

Group Business Editor

Chika Amanze-Nwachuku Maritime Editor

John Iwori

AgriBusiness/Industry Editor

Crusoe Osagie

Comms/e-Business Editor

Emma Okonji

Capital Market Editor

Goddy Egene

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

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

Nume Ekeghe (Money Market) Nosa Alekhuogie (AgriBusiness)

NEWS

Analysts Forecast Long term Value in Nigerian Economy Goddy Egene Some financial analysts said at the weekend that the Nigerian economy has long term value for investors despite the current headwinds.

In April the International Monetary Fund (IMF) trimmed its growth forecast for the Nigerian economy to 2.3 per cent citing foreign exchange (FX) related constraints and the lower commodity.

However, analysts at Afrinvest (W.A), an investment banking firm, said despite near term risks of low-growth and high inflation, Nigeria still portends long term value.

“We believe that the exchange rate adjustment, more stable oil prices, coupled with renewed vigour to pursue structural reforms in the energy sector would aid the economy to ride out the business cycle,” they said in a report obtained

by THISDAY. According to them, at a time when emerging and frontier markets appeared to have reached an inflection point as commodity prices soared and systemically important central banks retained dovish policy outlooks, economies which had taken proactive policy measures to rebalance via currency adjustment mechanism, structural reforms and fiscal policy, are benefitting from the

renewed confidence in emerging market assets.

“The MSCI Emerging Markets Currency Index has appreciated 7.7 per cent from its January low, while MSCI Emerging Markets and Frontier Markets Indexes have gained 25.8 per cent and 9.8 per cent respectively,” they said.

The analysts said they were not surprised by the IMF’s view

on Nigeria, saying that in line with heir our projection that there is an increasing likelihood that gross domestic product (GDP) may only improve 0.4 per cent for 2016 as against 2.8 per cent in 2015.

However the pace of GDP growth weakened from 2.1 per cent in Q4:2015 to -0.4 per cent in Q1:2016, marking the first contraction in 13 years as the

delay in the passage of the 2016 budget coupled with persistent energy shortages dragged economic activities in the country. We have placed a high probability on a second consecutive contraction in GDP in Q2:2016 – which would confirm the economy to be in a recession - as the lingering challenges from Q1:2016 lasted for a greater part of Q2:2016. The

2016 budget was finally passed in May and it is expected that the spending impulse would support a growth recovery in H2:2016. Also, the challenges associated with the fuel scarcity which had more or less become a recurring decimal were addressed and the much touted reforms in the FX market were implemented at the tail end of the quarter,” they said.

STRENGTHENING MARKET INFORMATION SECURITY

L-R: Country Manager, HP, Chukwuma Okpaka; Cloud & Enterprise, Microsoft, Blessing Nnachi; Executive Director, Market Operations and Technology, The Nigerian Stock Exchange (NSE), Ade Bajomo; Chief Information Security Officer, NSE, Favour Femi-Oyewole; Business Group Director, Cloud & Enterprise, Microsoft, Ope Olaniran, at the Nigerian Capital Market Information Security Forum at the Exchange …recently

CPS: PenOp Scores Private Sector High on Remittances

Minister Pushes for ICT University

Ebere Nwoji

Emma Okonji

The Pension Fund Operators Association of Nigeria (PenOp) has disclosed that private sector records higher level of remittance of employees’ contribution to their Retirement Savings Accounts (RSA) more than the public sector.

It also cautioned that the call for investment of greater portion of the pension funds in infrastructural development be done with clear, calm, incisive and strategic thinking to avoid risking the assets.

PenOp Chairman Eguarekhide Longe, who stated this at the association’s 4th annual general meeting held in Lagos, warned that careless deployments of the N5.3trillion pension assets could wipe the gains already achieved in an instant.

“With N5.3trillion, grown over an 11-year period, careless deployment could wipe these gains out in an instant.

On the contrary, if looked at as a constituent part of National Economic Strategy, the focus will switch to how we can support the industry to grow beyond N20trillion describing broader coverage so that a National savings pool, effectively utilised, will always be available to kick-start properly conceived, internally consistent, National development initiatives,” he said.

Longe urged pension operators to esteem professionalism, adding that unprofessional and unfair competitive practices should really have no place in the industry.

“I believe that we have to maintain a high standard of professionalism in our conduct as individuals and within organisations to which ever stronger the Oasis of Sanity this industry has come to be in the Nigerian financial services landscape”, he said.

Furthermore, he said operators that unprofessional and unfair competitive practices should really have no place in the pension industry, insisting that as leaders, it is important that operators take a firm stance on this.

He emphasised on the need to foster unity amongst the industry operators insisting that operators imbibe the discipline of speaking with one voice, insisting that healthy, honest and open debate is important.

“But once positions are agreed, it is my opinion that they should be binding,” he submitted.

He informed that amidst the current economic changes, aggregate pension assets under the CPS grew by 15 percent from N4.61trillion at the end of December 2014 to N5.3 trillion as at the end if December 2015.

The PenOp Chair expressed the regret that compliance,

with regard to remittances of pension contributions from the public sector on both the federal and state levels have lagged notably.

“While remittances from the federal government through the National Pension Commission (Pencom) were last received for September 2015, some states have outstanding remittances dating back over two years.Private sector remittances, though impacted by the adverse economic environment, have been more consistent,” he stated.

According to him, in January 2016, the industry leaders assembled to deliberate on desirable strategies to consolidate the gains the industry had made to date and to evolve new thoughts on how to grow the industry and make a greater impact on the society which essentially serves as its base.

He said key decisions and action steps were agreed upon setting an agenda for the next eight years – up to 2024.

Longe noted that highlights of these agreements revolve expanded and inclusive coverage excellence in service delivery, now cost and efficient industry, positive real return and visible impact as well as improvement in industry skill sets He said one of the major areas of focus of the PenOp exco he heads is to set a Code of Conduct among operators.

The Minister of Communications, Adebayo Shittu, has again called for the establishment of Information and Communications Technology (ICT) University in Nigeria, which will be the first of its kind in Africa.

The ICT University according to Shittu would be a pool that will provide manpower for and train human capital development for a fledging ICT in Nigeria.

The minister made the remark while receiving the members of the Editorial Board of Kakaaki Magazine in his office, where they presented him an award as the Democracy Man o the Year 2016.

“We are working on an ICT University which will be the first in Africa. It will train high caliber personnel that will service the ICT industry,” Shittu said, and disclosed that the recently compiled ICT Roadmap 2016 will soon become operational.

Shittu who received the Editorial Board of Kakaaki Magazine, a flagship personality profiling publication in his office, added that as part of the implementation of the ICT Roadmap, some activities, seminars and sensitisation programmes would be rolled out in the next few weeks.

According to him, “By the time the Roadmap must have been in operation before the end of next month, most of what we are doing here will be known to Nigerians. Every Nigerian is

affected by what the telecoms industry is doing.”

The minister who acknowledged the fact that the ICT industry is a new terrain for him, said he was able to achieve certain feat since assumption of office because of the clement working relationship he has with the Permanent Secretary, Sonny Echono, the directors and other management team in the ministry.

Speaking on his working bond with the Permanent Secretary, he said, “I love my working relationship with the Permanent Secretary. We are two great minds that love challenges. In fact, it is a marriage made in heaven. And we both work harmoniously with the directors. I love working with each and every one of them.”

Shittu expressed his appreciation to the Kakaaki team for finding him worthy of being honoured as the Democracy Day Man of The Year 2016, and urged the organisation to continue to partner the ministry and its agencies. He added that his office would be open to any constructive ideas. “We are receptive of ideas”, he said.

Presenting the award and magazine to the minister, the Group Chairman/ Publisher and Editor-in-Chief, Chief Tai Olusoccer said the selection committee of the magazine found the minister worthy of the year’s award because of his unprecedented achievements in the sector within a short period of time despite being a non-ICT expert.

25

T H I S D AY • MONDAY, JULY 18, 2016

BUSINESSWORLD

MARKET REPORT

Nigerian Equities Maintain Negative Momentum Goddy Egene Stock market closed lower last week as most investors remained on the sidelines in the absence of inspiring economic news that will stimulate demand for stocks. The market has remained negative since the beginning of the second half of the year as investors locked in profits from the gains recorded in the month of June.

The market had declined by 1.54 per cent the previous week that saw only two days of trading due to an unusually extended national public holiday to commemorate Eid-El Fitr celebration.

The bears maintained a hold on the market last week leading to a decline of 0.17 per cent in the Nigerian Stock Exchange (NSE) All-Share Index (ASI) to close at 28,805.45. In a similar vein, market capitalisation shed N17 billion to close at N9.9 trillion. Apart from the NSE ASI that fell, the NSE Banking Index, NSE Oil and Gas Index and NSE Insurance Index also ended the week negatively. The Insurance Index went down by 1.8 per cent following depreciation recorded by AXA Mansard Insurance Plc and NEM Insurance Plc. A decline in the price of Oando Plc and Mobil Oil Nigeria Plc led to a fall of 1.3 per cent in the NSE Oil & Gas, while losses in the prices of Guaranty Trust Bank Plc and Access Bank among others resulted in fall of 0.21 per cent in the NSE Banking Index.

On the other hand, the NSE Industrial Goods Index rose by 1.46 per cent majorly due to gains by Lafarge Africa Plc. The NSE Consumer Goods Index was buoyed positive interest in Nigerian Breweries Plc, Nestle Nigeria Plc and Unilever Nigeria Plc to closer 0.95 per cent higher.

Daily Performance Summary Unlike the previous week when the market opened for only two days, trading last week was for five days. While bears controlled three days, bulls where in charge for two days.

The market opened the week on Monday bearishly as persistent sell-offs in large-cap stocks drove the NSE ASI 0.14 per cent lower.

Just as the bear run was expected to continue, the market rebounded on Tuesday as positive change in sentiment lifted the market by 0.2 per cent.

But the market trended southwards on Wednesday with the ASI shedding 0.4 per cent. No respite came on Thursday as the market went down by another 0.1 per cent. However, bargains hunting by some investors led to the second rebound for the week as the NSE ASI appreciated by 0.4 per cent.

Consequently, the market ended the week with an overall decline of 0.17 per cent, while to year to date (YTD) appreciated settled at 0.6 per cent.

Market turnover Meanwhile, investors traded 1.149 billion shares worth N13.616 billion in 21,868 deals were traded last week by investors on the floor of the exchange, showing an increase of 203 per cent from of 377.798 million shares valued at N3.641 billion that exchanged hands in 7,466 deals the previous week.

However, the Financial Services

Industry led the activity chart in volume terms with 868.827 million shares valued at N6.110 billion traded in 13,046 deals, thus contributing 75.59 per cent and 44.87 per cent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 103.304 million shares worth N272.848 million in 1,111 deals.

The Consumer Goods Industry occupied the third position with a turnover of 66.743 million shares worth N3.501 billion in 3,368 deals.

Trading in the top three equities namely –FBN Holdings Plc, Guaranty Trust Bank Plc and Access Bank Plc accounted for 353.999 million shares worth N3.867 billion in 4,188 deals, contributing 30.80 per cent and 28.40 per cent to the total equity turnover volume and value respectively.

A daily analysis of the trading showed that investors traded 275.363 million shares valued at N3.442 billion on Monday, while Tuesday recorded 207.623 million shares worth N3.640 billion. The volume of trading was lower on Wednesday as investors exchanged 190.302 million shares valued at N2.342 billion. A total of 203.578 million shares worth N2.494 billion on Thursday, while investors traded 272.528 million shares valued at N1.696 billion on Friday.

Also traded during the week were a total of 941 units of Exchange Traded Products (ETPs) valued at N2.646 million executed in 22 deals, compared with a total of 35 units valued at N374.00 transacted last

week in 7 deals. Similarly, a total of 44,381 units of Federal Government Bonds valued at N44.679 million were traded in five deals compared to a total of 13,767 units of Federal Government Bonds valued at N14.356 million transacted the

TOP TEN BROKERS(BY VALUE)

previous week in five deals.

Gainers and losers An analysis of the price movement chart showed that 22 equities appreciated in price last week, higher than nine equities of the previous

AS AT LAST FRIDAY

BROKER

VALUE

STANBICIBTCSTOCKBROKERSLIMITED

% VALUE

5,126,331,324.13

18.71

EFCP LIMITED RENCAPSECURITIES(NIG)LIMITED CSLSTOCKBROKERSLIMITED

3,509,617,613.60 2,206,588,759.79 1,569,101,688.17

12.81 8.06 5.73

FBN SECURITIES LIMITED

1,277,866,366.76

4.66

AFRICAN ALLIANCE STOCKBROKERS LTD CHAPELHILLDENHAMSECURITIESLTD-BRD VETIVA CAPITAL MANAGEMENT LTD

1,230,500,514.05 1,202,582,301.11 1,105,127,109.78

4.49 4.39 4.03

809,820,742.81

2.96

607,879,750.62 18,645,416,170.82

2.22 68.07

A.R.M SECURITIES LIMITED - BRD SECURITIES AFRICA FINANCIAL LIMITED -BRD

TOP TEN BROKERS

(BY VOLUME)

BROKER STANBIC IBTC STOCKBROKERS LIMITED

AS LAST FRIDAY VOLUME %VOLUME 224,986,951

9.79

CSL STOCKBROKERS LIMITED

178,353,939

7.76

MORGAN CAPITAL SECURITIES LIMITED

121,945,934

5.30

121,158,901

5.27

RENCAP SECURITIES (NIG) LIMITED FBN SECURITIES LIMITED

106,077,903

4.61

READINGS INVESTMENTS LIMITED - BDR

81,060,246

3.53

EFCP LIMITED

79,484,050

3.46

INVESTMENTONESTOCKBROKERSINTLLTD-BRD

64,150,568

2.79

FIDELITYSECURITIESLTD

57,687,649

2.51

AFRINVESTSECURITIESLTD-BRD

53,739,703

2.34

1,088,645,844

47.36

week. Conversely, 38 equities depreciated in price, lower than 48 equities of the previous week, while 120 equities remained unchanged lower than 123 equities recorded in the preceding week.

Honeywell Flour Mills Plc led the price gainers with 14.8 per cent.

United Capital Plc rose by 7.6 per cent as investors reacted positively to the highly impressive results for the half year ended June 30, 2016.

United Capital recorded gross revenue of N3.655 billion in 2016, up by 34 per cent from N2.750 billion posted in the corresponding period of 2015. Investment income rose from N1.349 billion to N1.721 billion, while fees and commission income grew from N817 million to N980 million. Net operating income settled at N3.411 billion, up from N2.546 billion, while total revenue stood at N3.655 billion, compared with N2.750 billion in the corresponding period of 2015.

In spite of rise in inflation, the management of the United Capital maintained a commendable cost strategy that led to a reduction in total operating expenses from N1.128 billion to N1.074 billion.

Consequently, the company ended the half year with a profit before tax of N2.065 billion, indicating a growth of 47 per cent. However, the company’s bottom-line was boosted by a N1.526 billion realised from the sale of investment in an associate company to hit N3.591 billion in 2016, up from N1.408 billion in 2015.

Zenith Bank Plc appreciated 6.0 per cent, while Livestock Feeds Plc went up by 4.9 per cent. Other top price gainers included: Forte Oil Plc (4.8 per cent); Lafarge Africa Plc (4.6 per cent); Unilever Nigeria Plc (3.7 per cent); Flour Mills of Nigeria Plc (3.6 per cent); Dangote Sugar Refinery Plc (3.2 per cent) and United Bank for Africa Plc (3.1 per cent).

Conversely, Skye Bank Plc led the price losers with 31 per cent trailed by NPF Microfinance Bank Plc with decline of 21 per cent, while Trans Nationwide Express Plc went down by 18.5 per cent.

Other price losers among the top 10 were: Oando Plc (14.5 per cent); Glaxosmithkline Consumer Nigeria Plc (13.1 per cent); Wema Bank Plc (10.7 per cent) Diamond Bank Plc (10.5 per cent); P. Z. Cussons Nigeria Plc (10.4 per cent) and Dangote Flour Mills Plc (9.0 per cent).

26

T H I S D AY • MONDAY, JULY 18, 2016

BUSINESSWORLD

INSIDE BROAD STREET

EFInA Offers Bank $2m Grant to Promote Financial Inclusion

A view of Lagos financial district

AKINWUNMI IBRAHIM

Forex Scarcity Pushes Naira Down across Market Segments Obinna Chima The naira depreciated against the United States dollars at all foreign exchange (forex) market segments last week following reports of strain in forex supply, mainly at the interbank market segment As a result of this, the spot rate of the naira dropped week-on-week against the dollar at the interbank market to an all-time low of N292.25 to a dollar. The naira also depreciated at the Bureau de Change and parallel market segments by 2.9 per cent and 3.13 per cent to N355/$1 and N365/$1 respectively as demand at the interbank market spilled over to the alternative market segments.

This week, analysts at Cowry Assets Management Limited predicted an increased upward pressure on the foreign exchange rate as the central bank prepares to settle its obligations on its 1-month (July 2016) tenor futures contract entered on Monday, 27 June 2016 at the rate of N279/$1. The value of the maturing futures contract was put at $697 million.

Also, analysts at Afrinvest West Africa Limited pointed out that the fulfilment of the commitment is expected to stoke investors’ confidence in the operations of the interbank market going forward.

They also disclosed that second futures contract on the FMDQ OTC Futures market was sealed last week. Similar to the $20million Naira-settled Futures contract agreement between Citibank and the CBN, Stanbic IBTC also sealed a $60 million naira-settled 10 months (APR 26 2017) futures contract at N210/$1.00.

CBN Governor, Mr. Godwin Emefiele was said to have flown to Britain and the United States last week to try to lure back investors scared off by the plunge in oil prices and resulting financial turmoil. The central bank last month bowed to foreign pressure to remove the 16-month-old 197-per-dollar peg on the naira it had brought in to try and control its fall as crude prices plummeted.

Investors welcomed the move but many said they were still steering clear until Africa’s biggest economy shows signs of concrete recovery.

Trade has been thin and dollar liquidity tight, leaving the central bank as the main supplier of hard currency.

MARKET INDICATOR Emefiele and the Deputy Governor (Economic Policy), CBN, Dr. Sarah Alade held meetings with investors in Britain and the United States, a central bank official said.

“It was more like a roadshow to get investors back into the country,” and authorities were particularly keen to boost dollar liquidity, he told Reuters.

Interbank Money Market In line with expectations, the Nigerian interbank money market trended upwards as financial system liquidity tightened. The Nigerian Interbank Offered Rates (NIBOR) for overnight funds, 1-month, 3-months and 6-months placement tenors week-on-week increased to 22.58 per cent (from 7.79%); 15.30 per cent (from 10.96%); 16.60 per cent (from 13.14%) and 17.96 per cent (from 14.79%) respectively.

Meanwhile, yields on the Nigerian Interbank True Treasury Bills Yield (NITTY) increased for all maturities on sell pressure as yields on the 1-month, 3-months, 6-months and 12-months maturities increased to 11.09 per cent (from 8.06%); 11.86 per cent (from 10.50); 12.58 per cent (from 10.54%) and 16.90 per cent (from 12.46 per cent) respectively.

This week, the CBN will auction treasury bills worth N127.96 billion, viz: 91day bills worth N36.78 billion; 182-day bills worth N39.17 billion; and 364-day bills worth N52 billion on Wednesday, 20 July. Also, treasury bills worth N259.47 billion will mature on Thursday, 21 July, viz: 91-day bills worth N36.78 billion; 182-day bills worth N39.17 billion; 364-day bills worth N52 billion; and 174-day bills worth N131.52 billion.

“We expect NIBOR to moderate as inflows via maturing treasury bills and expected FAAC disbursements, exceed the outflows,” Cowry Assets stated.

Bond Market Review and Outlook The bonds market sustained its preceding week’s bearish trend last week as sell sentiment persisted.

Last Monday, average yield across benchmark

bond instruments rose 0.3 per cent to close at 14.4 per cent following increased activity on JUL 2034 and MAR 2036 instruments as investors tried to free up liquidity ahead of Wednesday’s Debt Management Office’s (DMO) primary bonds auction. This continued on Tuesday as average yield across benchmark bonds rose 0.1 per cent to close at 14.5 per cent.

On Wednesday, the DMO issued N30billion, N35billion and N55billion of the JUL 2021 (New Issue), JAN 2026 and MAR2036 bonds instrument at the Primary Market Auction (PMA) at marginal rates of 14.50 per cent, 14.90 per cent and 14.98 per cent respectively.

According to a report by Afrinvest, similar to recent PMAs, the total amount offered was oversubscribed by close to 2x. The DMO under allotted the JUL 2021 and JAN 2026 instruments by 15 per cent and 12.5 per cent respectively whilst the 10-Year MAR 2036 bond was over allotted by 12.5 per cent.

Also, at the bonds auction, the marginal rate of the JAN 2026 rose 0.5 per cent from the rate the instrument cleared at the June auction. Total subscription at the PMA was N232.1 billion whilst total bids ranged from 10 per cent to 17 per cent. Average yield across benchmark bonds moderated 0.1 per cent to 14.4 per cent as investors with unsuccessful bids at the PMA redirected attention to the secondary market, with increased buying interest in the MAR 2036 bond. Average yield eventually settled at 14.6 per cent week-on-week.

In the Eurobonds market, the Sub-Saharan Africa sovereigns continued to enjoy buying interests on the back of the low interest rates expectation in the advanced markets. Increasing interest in emerging markets Eurobonds may also be linked to rising commodity prices (Bloomberg commodity index as appreciated 10.6% year-to-date). Yields on the 2023, 2021 and 2018 Nigerian sovereign Eurobonds dropped 0.4%, 0.5% and 0.3% week-on-week respectively.

“We expect yields in the local bonds market to moderate in the week ahead as activities in the secondary market strengthens, considering the number of unsuccessful bids at the bonds auction during the week. Interests in FGN Eurobonds is also foreseen to persist in the week ahead,” the Afrinvest report added.

The Enhancing Financial Innovation & Access (EFInA), a financial sector development organisation has announced the release of an innovation grant in the sum of $2 million to support First City Monument Bank (FCMB) Limited with its “Group Lending and Agency Banking” project, which provides financial services and access to credit facilities for the financially excluded population.

FCMB Group Lending project is a digitised credit and savings solution, which facilitates instant account opening with debit card issuance for online real time transactions, driven by point of sale (PoS) and mobile devices.

The EFInA Innovation Grant will enable FCMB extend facilities to prospective customers in twelve states – Bauchi, Kaduna, Sokoto, Niger, Kwara, Lagos, Oyo, Ogun, Akwa Ibom, Rivers, Cross River and Abia States.

Speaking on the grant, the Chief Executive Officer of EFInA, Chidinma Lawanson, disclosed that the EFInA Access to Financial Services in Nigeria 2014 survey had shown that 42.7 per cent of the total female population were financially excluded, compared to 35.8 per cent of the total male population.

“To this effect, the FCMB Group Lending project seeks to drive financial inclusion by targeting low-income women and micro business owners directly through digital financial services and agent banking.

“The project is estimated to impact over 200,000 customers, by providing them with a minimum loan of N30,000 per beneficiary, including a compulsory savings element of the loan which will deepen the savings culture among the financially excluded population.

In line with EFInA’s focus to increase access to financial products and services to the low income population, especially women, the project is also designed to empower women by recruiting female agents in the target communities,” she said.

Through the innovation grant, EFInA aims to promote financial inclusion through market development by enabling provision of appropriate financial products and services at an affordable price to micro business owners and those who are currently financially excluded.

According to the Group Managing Director/ CEO of FCMB Limited, through the project, the low income population will be provided with access to credit, savings and other value added services such as funds transfers and bill payments.

“The Group lending project will drive financial inclusion by increasing access to financial products and bring financial services closer to the unbanked adult population: through the deployment of agents in communities without financial service providers.

“The project will be highly driven by technology to create a distinct offering from other existing micro lending businesses. The automation of loan processing, disbursement and repayment via POS/Mobile solutions will ensure an efficient and swift loan disbursement and collection process,” he added.

CEO of FCMB, Ladi Balogun

27

T H I S D AY • MONDAY, JULY 18, 2016

BUSINESSWORLD

APPOINTMENT / AWARDS

Standard Chartered Bank Nigeria Clinches Awards Standard Chartered Bank Nigeria Limited won the Best Social Media Initiative and Wealth Management Team of the Year in West Africa by The Asian Banker. This achievement was announced at a gala event held in Lagos.

Speaking on receiving the awards, the bank’s Head of Retail Banking, Ebehijie Momoh thanked the bank’s clients and the financial services community in Nigeria and West Africa for their vote of confidence in the bank.

‘The Bank continues to deploy resources towards connecting and engaging with customers in real time.

Providing the right financial solutions and advice to help grow the businesses and investments of our clients remains a key priority. We continue to direct efforts towards giving premium customer service while

enhancing the digital experience of both existing and potential customers’’, Momoh said.

She added that the bank continues to invest in enhancing its people and its channels, mainly online and mobile banking. In June this year as part of ongoing initiatives to improve services and products offered to customers, the bank re-launched its revamped online banking platform and earlier in the year had also launched Retail Workbench a mobile banking app for opening and updating customer accounts with ipads on the go. She also noted that staff of the bank had gone through various training initiatives such as the ‘SCB Way’ adding that this investment in enhancing customer service has yielded positive results, making Standard Chartered Bank one of the leading financial institutions in customer service in Nigeria.

The acting Head of Wealth Management Nigeria, Simpa Adaba said: “We continue to give our clients access to best-in-class Investment and FX solutions both locally and across the globe, enabling them diversify their portfolios across geographies, markets, currencies and asset classes. We have a strong dedicated team of Investment Advisors and Treasury Product Specialists integrated into a global solutions team, thus incorporating international expertise and local capabilities.

“We continually strive to improve on services while remaining the ‘Trusted Advisors’ to our clients. On-going investment in technology in wealth management has implied evolution of the business, in keeping with the demands of a client base inclining towards digital banking solutions. More than 20% of the most affluent

client segment has a wealth product, and 30% of clients’ AUM in this segment is in investment products within wealth management. Both of these figures have been maintained year-on-year, with figures expected to grow as the business continues to evolve.’’

The West Africa Retail Financial Services Awards programme was launched to recognise competition in one of the most unique markets.

The programme provides the undisputed benchmark of the performance of the best institutions in an increasingly fierce marketplace. By running this programme specific to the region, we wish to ensure that we capture the unique discipline that the banks and institutions in this region have been inculcating and benchmark them against global best practice.

L-R: President, Lagos Chamber of Commerce and Industry (LCCI), Dr. Nike Akande; Vice President, Mr. Varkey Verghese and Head, Branding and Communication, Sterling Bank Plc, Chimaobi Nwaokoma, at the Sterling Bank sponsored inauguration of the Medical, Pharmaceutical and Allied Services Group in Lagos…recently

MainOne Bags 2016 Microsoft ‘Country Manager’s Partner’ Award Cloud and Data Center solutions in Nigeria.

Director, Small Midmarket Solutions and Partners, Microsoft Nigeria, Oluwawemimo Adeniyi, said: “We are pleased to recognise MainOne as this year’s Winner of the 2016 Microsoft Country Manager’s Partner of the Year award.”

He added: “MainOne is a classic example of the excellent resource we see in our Microsoft partner ecosystem to deliver innovative and transformative solutions to our mutual customers.”

While receiving the award, MainOne’s Chief Information Security Officer, Chidinma Iwe, said: “We’re honoured to be recognised by Microsoft as Country Partner of the Year.

Since January 2015, when we launched our Tier III data center, we have worked with Microsoft to provide cloud-based solutions to

The Executive Director, Abuja/Northern Directorate of Skye Bank Plc. Mr. Idris Yakubu, has been elected President, University of Jos Alumni Association at its 2016 National Delegates’ Conference held at the Main campus of the institution.

The National Delegates’ Conference, which elected a new executive body for the alumni association for a two-year term recently, drew several participants from both the national body and 10 state chapters.

According to a statement, other officials elected included the Deputy President, Nuhu Johnson Sani from the FCT Chapter; Vice President North, Al-Mohammed Ubabu of Kaduna chapter; and Vice President, South, Ned Ulelu of Enugu chapter. Others were the Secretary, Mr. Wulashik Dafaan from Plateau Chapter; Mr. Isaac Eze, Assistant Secretary; from the Lagos Chapter, Mr. O Wisdom from Abuja Chapter as Financial Secretary; and Dr. Plangsat Davil from Plateau chapter.

The statement further said Mr. Micha Adamu from the Kaduna chapter was elected Auditor, while Professor Emeka Ozoji from the Plateau Chapter emerged as the Public Relations Officer.

In his acceptance speech, the new National President, Yakubu, who was also a former Deputy

President of the Association, thanked members of the association for the overwhelming confidence reposed in Him and the new Executive Committee to pilot its affairs for the next two years.

Yakubu promised to run an inclusive and participatory administration that will provide value, help meet the welfare needs of the members, and engender a mutually beneficial relationship between the University administration and the Alumni Association.

He solicited the support of the University administration, the Governing Council, and other Stakeholders in the UNIJOS Project to enable the new team succeed, promising to galvanise Alumni members worldwide to contribute to the infrastructural and educational development of the University. He a joined Alumni Members worldwide to support His administration, and respond positively to calls made to them.

Other events that highlighted the National Delegates’ Conference were a closing dinner which had in attendance, the outgone Vice-Chancellor of the University, Prof. Hayward Mafuyai, himself an Alumnus of UNIJOS who was honored for his contributions to the growth of the University; the new Vice-Chancellor, Prof.

Sebastian Maimako, also another Alumnus, among other dignitaries.

SBI Media Clinches Best Advertisement in IT, Electronics

HEALTH IS WEALTH

Premier connectivity and data center solutions company, MainOne, has won the Microsoft Country Manager’s Partner of the Year (POY) Award for Nigeria, during the Microsoft Partner Network Awards held in Lagos recently.

The company beat other nominees to clinch the award at a gala dinner organised to celebrate Microsoft partners that have demonstrated excellence leveraging Microsoft technology over the fiscal year.

The Country Manager POY award recognises a partner that was fully aligned to Microsoft’s priorities during the 2016 financial year and has achieved in one or more of the transformational pillars of Microsoft, such as Personal Computing, Intelligent Cloud and Reinventing productivity.

The choice of MainOne this year reinforces the company as the true leader in Enterprise

Skye Bank Director Elected UNIJOS Alumni President

our customers. This award cannot have come at a more opportune time than this, as it demonstrates the value we bring to our customers by helping them improve organisational efficiency at competitive costs during these challenging times.”

“With MainOne’s Cloud technology, enterprises can leverage the latest solutions available on the Microsoft Azure platform or host locally to enhance their business with minimal expenditure as majority of the capital expenditure is borne by the cloud host, being MainOne. The platform enables Infrastructure as a service (IAAS), a solution MainOne offers to customers in Finance, E-Commerce and Oil and Gas sectors who need their data domiciled in Nigeria,” Iwe added.

The Cloud technology is also built to enable MainOne to

offer Cloud Connect, a solution that provides Enterprises with dedicated connectivity to their Microsoft Office 365 and other web services offshore including Amazon web services. In addition, MainOne enables other Cloud Business Partners host their solutions on our platform allowing them to go to market quicker knowing that their hardware environment is managed by the Tier III MainOne Data center – MDXi. Other awards received by MainOne in the past, include: the PCI DSS and ISO 9001 and 27001 certifications, Frost & Sullivan Nigerian Data Centre Customer Value Leadership Award, African Information Technology and Telecoms Awards, Telecoms Wholesale Provider of the Year and Lagos Chamber of Commerce and Industry Award for Excellence in Broadband Infrastructure, among others.

Barely two weeks after SBI Media Limited won two coveted awards at the Marketing Edge Brands and Advertising Excellence Award, the firm has won another award at the 2016 OAAN Posters Awards.

The agency through the #FoundOnKonga campaign won the awards for the best Outofhome (OOH) creative for information technology and electronics.

The #FoundOnKonga campaign was a unique campaign executed for Konga in 2015.

Leveraging on Tiwa Savage, a frontline brand ambassador for Konga.com, the advertisement positioned Konga.com as the platform with the largest collection of brands, products and services that brings happiness to the site’s loyal customers.

The campaign was executed in a 360 degree manner culminating in viral, press, radio, digital and OOH, the medium that recognised the brand with the awards.

While receiving the award, Head of Media Planning at SBI Media, Alison Oyome, said: “On behalf of SBI Media and the Konga family, we appreciate OAAN for this honour and we will not be complacent but continue to take Konga to a greater heights.”

The General Manager at SBI Media Limited, Olaolu

Abimbola, said: “This is another story written in the Sands of time. Brick by brick, layer by layer SBI Media is set to transform the face of media buying, planning and strategy in Nigeria. We were really humbled and excited at the same time when the award was presented to us.”

“I use this opportunity to say a big thank you to OAAN for considering us as worthy winners of such a prestigious award. We see it as a motivation to do more and strive for greater Heights.” he added.

Managing Director of SBI Media, Rotimi Bankole said: “I am delighted to have received this award on behalf of my team; team SBI. In dedicating the award to Team SBI, there is a corresponding call on our ethics, capacity and professionalism, the core of which we bagged this award. We must not relent on it. We are happy to have received this award and look forward to retaining the award next year.”

SBI Media is the next generation media agency built on the culture of bravery, thought leadership and innovation.

Serving a diverse clientele of technology, aviation, automobile, telecoms. SBI is headquartered in Lagos with 20 media professionals in media strategy, research, planning and exchange.

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Nigerian Football Clubs to Get Funding from Capital Market Goddy Egene Nigerians are to own shares in Nigerian football clubs very soon as some of the clubs prepare to access t he nation’s capital market funding. This follows moves to restructure the Nigeria Professional Football League (NPFL) clubs’ ownership and open them to private sector investments.

To actualise the listing of NPFL clubs in the secondary capital market, the League Management Company (LMC) and NASD OTC Securities Exchange, operators of the overthe-counter market for unlisted public limited companies, have signed a Memorandum of Understanding (MoU).

Speaking at the MoU sign-

ing ceremony, Chairman of LMC, Shehu Dikko, said the partnership is very important to the LMC because sign-posts a step towards realising the vision nursed by the LMC to provide a strong structure for the NPFL Club ownership.

“It is a journey that has been long but potentially fruitful for the League, the clubs, our partners, NASD, corporate Nigeria and the general football stakeholders,” he said.

He recalled that in the late 1970’s to early 1990’s, individuals and companies dominated club ownership and funding listing the likes of Stationery Stores, Udoji United, Leventis United, Abiola Babes, Ranchers Bees, Ayusalam Rocks, BCC Lions, Jasper United, ACB, New Nigerian Bank, Flash

Flamengoes and Iwuanyanwu Nationale and many others.

“Today, the fluctuating oil revenue is hitting harder at states’ resources while the organized private sector are now driving the economy hence we are seeking this platform to take football to the organised business and the people as is obtained in some more prosperous leagues such as those in Germany, Spain and coming closer home, North Africa has since been appreciated by the LMC hence we took steps to seek the actualisation. You will recall that in the quest for this, we did sometime in the past visit the Nigeria Stock Exchange (NSE) all in our bid to bring about this change to a more enduring

club ownership structure.

We are therefore very glad that NASD has embraced this vision and has offered to work with us towards the actualization,” Dikko declared. In his comments, the Managing Dikko/Chief Executive Officer of f NASD Plc, Bola Ajomale said the partnership is significant as it is bringing football and the business community together for the mutual benefit of all.

He said: “Our MoU marks the beginning of a merging of financial and sporting interests in an unprecedented manner in Nigeria. It is not often that securities markets and football are discussed in the same conversation but interesting things can happen when an imaginative manager decides to

improve the fortunes of a sport and he decides to encourage teams to be publicly traded on a securities exchange. Like any other commodity, football clubs have rising and falling fortunes and can live or die based on foresight of their managers. Soccer may be a passion but it is a business like any other.”

Ajomale explained that actualising the objective of listing NPFL Clubs will require processes to adhere to the discipline of the financial market which may not be present in the structure of club ownership, noting also that listing a football club on NASD OTC Securities Exchange is not an instant recipe for success.

“After all Tottenham Hotspur, one of the biggest

clubs in England, were publicly traded from 2001 to 2011, but decided to a private ownership structure. Again, of the 27 clubs that listed in early 1990s Britain, only a few remain successful and listed today. Significant restructuring is required to get the football clubs in shape before they can efficiently utilise investors funds and indeed attract such funds. The journey will be long and the hurdles numerous. But as they say, “the journey of a thousand miles begins with a step in the right direction” – such as the step the LMC is taking today,” Ajomale said. He said NASD will provide business education to the clubs and at the same time sensitise the capital market community on the opportunities in football.

Dana Decries Delays Caused

by Paucity of Aviation Fuel Chinedu Eze Dana Air has said the delay caused by inadequate supply of aviation fuel is hurting its principal value of on-time performance.

The airline reiterated its commitment to improving on-time performance, which it said, was the core of its excellent services, when it took to the skies on November 10, 2008.

According to the Accountable Manager of the airline, Mr. Obi Mbanuzuo, Dana Air has always taken the lead in ensuring that passengers get to their destinations on schedule, but recent delays due to shortage of fuel supply has not really helped its flight services to the flying public.

“We sincerely apologise to our teeming guests for the delays experienced recently and regret the inconveniences caused. The recent delays have not really helped our desire and commitment to take our passengers to their destinations on schedule.’’

Obi commented further: “The issue is antithetical to our award winning service and we have been proactive in seeking better handling of operational issues.

We will not relent in our efforts but continue to strive to improve on our services and offerings.’’

Dana Air recently launched flight services from Lagos to Owerri with an introductory online fare of N12, 600, to further boost business and leisure travel to the Imo state capital.

Delta Air to Deploy Innovative Baggage Tracking Process in Lagos Chinedu Eze

CLOSING GONG

L-R: President, Chartered Institute of Stockbroker, Oluwaseyi Abe and Executive Director, Market Operation and Technology, the Nigerian Stock Exchange, Ade Bajomo at the Closing Gong Ceremony at the Exchange …recently

HTC, NCC, NITDA Set to Host ICT Stakeholders in Nigeria The High Tech Centre (HTC) for Nigerian Women and Youths, a nongovernmental organisation, in collaboration with the Nigerian Communications Commission (NCC) and the National Information Technology Development Agency (NITDA), will be hosting Information and Communications Technology (ICT) stakeholders in the country at special forum across Nigeria.

According to the President and Chief Executive Officer of High Tech Centre, Dr. Wunmi Hassan, the ICT Stakeholders forum is for all ICT enthusiasts including

those in the entertainment industry, academia, the public and private sector of the country.

The one day stakeholders’ forum is a national discourse on how to empower and build the capacity of women and youths through ICT in a knowledgedriven economy and targets the effective and full implementation of the Sustainable Development Goals (SDG).

For national coverage, the forum will hold on a regional basis with Port Harcourt hosting participants from the Southern Region on Tuesday 19, 2016, while Lagos State will host those from the South West on

Thursday in Surulere.

The City of Kaduna will host those from the Northern Region on Monday 25th July and in Abuja on Wednesday July 27th.

All the events will commence at 9 am prompt.

HTC has been championing the course of women and youths in the country, and the stakeholders’ forum is critical because of the need for more Nigerian women and youths to become competitive and meet global challenges using ICT. The forum is also viewed as very vital for all ICT stakeholders to attend since it will further help to achieve

one of HTC’s objectives, which is networking with other national, regional and international organisations.

HTC currently has representatives in almost all states of the federation who were trained to use ICT tools and are serving as State Coordinators on its behalf. The states are: Ondo, Osun, Ekiti, Oyo and Lagos in the South West; Rivers and Cross-river States in the South -South and Niger State and Abuja-FCT in the North Central Zones of Nigeria.

Others are Sokoto, kebbi, kano, Kaduna, Edo, Abia, Enugu, Anambra, Imo and Plateau States.

Delta plans to deploy Radio Frequency Identification (RFID) baggage tracking technology across its system, including between Lagos Murtala Muhammed International Airport and Hartsfield-Jackson Atlanta International Airport.

The move, according to the airline, will provide Nigerian customers with improved real-time tracking of luggage throughout the travel experience. Delta remains the only U.S. carrier to operate nonstop service between Nigeria and the United States offering hundreds of onward connecting opportunities via Delta’s Atlanta hub.

The airline said the RFID would replace barcode hand scanning – the industry standard since the early 90s. With this new technology, scanners use radio waves to capture highly accurate and consistent data stored on an RFID chip embedded in the luggage tag, driving superior tracking and increased transparency.

“With RFID, customers will see their bags on and off the

aircraft during their journey via push notifications to the Fly Delta mobile app beginning in the fourth quarter of 2016,” the airline explained.

The commercial manager for West and East Africa, Delta Air Lines, Bobby Bryan said, “RFID is another example of our investment in the Nigerian marketplace. It offers customers clear visibility of their checked bags and will set a new standard for more transparent, interactive tracking on the Fly Delta mobile app.

“Delta’s daily nonstop flight between Lagos and Atlanta has gone from strength to strength and we continue to be focused on offering the best experience for our customers,” he said.

Better baggage handling processes and enhanced technology have already shrunk the airline’s mishandled bag rates by 68 percent over the past 10 years, establishing Delta as the leading U.S.-based global airline for baggage performance. In 2015 Delta led U.S. global airlines in DOT bag performance while setting six monthly DOT records and a full year record.

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NCC Remitted N70bn into Federation Account in Q1 Emma Okonji The Nigerian Communications Commission (NCC), the telecoms industry regulator, has remitted N70 billion into the federation account in the first quarter of 2016, precisely from December 2015 to March 2016, according to a statement released by the commission.

The amount is in addition to the N30 billion paid by MTN Nigeria Communications Limited recently, as a part payment of the N330 billion fine slammed by NCC and the $96 million paid by the same MTN, for 5 MHz of 6 slots of 30MHz in the 2.6GHz band auction that it won this year.

The generation and remission of the N70 billion into the federation account by the NCC, is coming at a time when the country is in need of money, owing to its shrinking economy, occasioned by the sharp drop in the prices of oil at the international markets.

THISDAY however gathered that the N70 billion that was

Skye Bank, Partners COPE to Provide Free Breast Cancer Screening In line with its corporate social responsibility drive and commitment to the fight against cancer, Skye Bank, in conjunction with a non-governmental organization, COPE Foundation, is once again offering free breast cancer screening to the public.

The event, which is scheduled to hold on Saturday July 23, 2016 from 8am to 5pm at the premises of the NGO, on 39B, Adeniyi Jones Avenue, Ikeja, Lagos, is intended to stem the growing incidence of the scourge through early detection and treatment of the disease.

The bank said in a statement that to take advantage of this opportunity, interested customers are required to preregister on www.skyebankng. com/skyepearl/free-breastcancer-screening<http://www. skyebankng.com/skyepearl/ free-breast-cancer-screening>.

It would be recalled that the Bank has in the last 3 to 4 years sponsored over 30 indigent cancer patients for treatment in addition to providing free screening programmes for over 10,000 women within and outside Lagos. The prevalence of the scourge in younger women and the late presentation is still on the increase. The bank is committed to supporting worthy social causes in the health sector to improve the wellbeing and healthcare of Nigerians, noting that a healthy nation is a wealthy nation.

According to the World Health Organisation (WHO), about 70 per cent of all cancer deaths occur in low- and middle-income countries. Deaths from cancer worldwide are projected to continue to rise to over 13.1 million in 2030. Cancer is a leading cause of morbidity and mortality worldwide, accounting for approximately 8.2 million deaths in 2012.

remitted, is part of the total contribution of the telecoms sector to the country’s Gross Domestic Product (GDP), which is put at over N1.4 trillion in quarter one, according to financial figures released by the National Bureau of Statistics (NBS).

NCC has been in the vanguard of generating nonoil revenue for the nation and under the leadership of its current Executive Vice Chairman, Prof. Umar Garba Danbatta, the commission has continued to generate funds for the federal government, through transparent auction of broadband spectrums that will deepen broadband penetration and make access a lot easier and cheaper.

Through its strict but trans-

parent regulatory functions, NCC was able to fine MTN a whooping N1.04 trillion as fine for refusal to deactivate 5.2 million unregistered and improperly registered SIM cards on the MTN network, despite repeated warnings from the NCC. The fine was however reduced to N330 billion after several plea negotiations from MTN and the telecoms company has paid the sum of N80 billion as part of staggered payment agreement reached between the company and the NCC. Confirming the contribution of NCC and the entire telecoms industry to GDP growth of the county, the Special Assistant to Danbatta on Media, Yakubu Musa, said: “These and many more, including the N1.4 trillion

telecom sector contribution to the GDP, are no doubt, parts of significant feats under Danbatta’s leadership.”

Based on its financial contributions to the growth of the Nigerian economy, coupled with its recent regional award as the African Regulator of the year at the African Information Technology and Telecoms Awards (AITTA) in Ghana, Danbatta was invited along side heads of key government agencies to make a presentation at a two-day retreat on enhancing revenue generation in the country.

The retreat, which is geared towards sensitising stakeholders on the funding of the 2016 Budget, commenced Wednesday, and rounded off Friday, July 15 in Kano State.

Emirates Named World’s Best Airline Ever rising Middle East international carrier, Emirates has been named the World’s Best Airline 2016 at the prestigious Skytrax World Airline Awards 2016.

In addition to this award, the mega carrier was also named World’s Best Inflight Entertainment for a record 12th consecutive year, and Best Airline in the Middle East.

Based on the results of the largest airline passenger satisfaction survey in the industry, the World’s Best Airline Awards are considered a global benchmark of airline excellence.

The airline explained that this year’s Skytrax awards were based on a total of 19.2 million completed surveys covering 280 airlines, by customers hailing from more than 104 countries.

The Skytrax survey measures

quality standards across 41 key performance indicators of front-line products and services in the airline industry.

This is the fourth time Emirates has won the top accolade since the airline awards were introduced 15 years ago; the airline won the first ever Skytrax World’s Best Airline in 2001, again in 2002 and in 2013. In total, Emirates has won a total of 20 Skytrax World Airline Awards since 2001.

President Emirates Airline, Sir Tim Clark said, “We are honoured to be recognized by the prestigious Skytrax awards. Emirates has always put our customers at the heart of what we do, and we work hard to deliver the very best experience possible to our customers at every touch point, every day, all around the world.

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Onu Advocates Diversification of Nigeria’s Energy Sources

Etisalat Introduces ‘Do-Not-Disturb’ Service to Curb Unsolicited SMS

Dele Ogbodo in Abuja

Emma Okonji

Minister of Science and Technology, Mr. Ogbonnaya Onu, has called for diversification of Nigeria’s energy source from its current dependence on fossil fuel to exploitation of solar, hydro, biomass and wind.

According to him, renewable resources in the country can easily be exploited and transformed into electricity, fuels and heat, adding that the large scale exploitation of renewable energy resources will promote better mix of the nation’s energy supply.

Speaking at the technical validation workshop on Sustainable Energy for All (SE4ALL) action agenda, jointly organised by the Energy Commission of Nigeria, the UNDP and NEPAD, in Abuja, he said meaningful industrialisation of the country can be realised with diversification of its energy sources.

The minister said: “We have relied essentially on natural gas for the generation of electricity. This has created a lot of problems for the nation, particularly when gas supply is interrupted in anyways including the breakage of gas pipeline.”

According to him, “The geographical location of Nigeria in the tropics gives it great advantage in utilising solar energy and also wind energy.

Government, the minister said, will exploit other renewable sources of energy, adding virtually all the developed and emerging countries including the United States of America, China, Germany and Russia, rely heavily on coal for electricity generation.

Onu noted that the workshop has become imperative in helping the nation meet the huge energy needs of its populace and industries, adding: “I urge you all to put your very best in the course of this workshop.

Your recommendations would be useful to both the ministry and the nation.”

In a remark, the Director General of the Commission, Prof. Eli Bala, stated that energy is essential in driving and growing national economies as well as improvement in standard of living of mankind.

On why the SE4ALL is important is the country’s current dispensation, he said: “However, secured, available and affordable as well as sustainable energy has eluded many economies including that for Nigeria.

“It is against this background that UN secretary General, in September 2011, pronounced the SE4ALL initiative , with the view to bringing all sectors of society , private, government, Civil Society and the Academia to support the three interlinked objectives of ensuring universal access to modern energy services by 2030.”

Etisalat Nigeria has introduced the ‘Do-not-Disturb’ (DND) facility that enables customers on its network to optout completely or partially from receiving unsolicited marketing text messages and calls.

The service implementation is part of the oversight function of the Nigerian Communications Commission (NCC), the telecoms industry regulator, which recently ordered all telecoms operators to introduce and implement the service for the benefit of telecoms subscribers.

Having identified improperly managed unsolicited marketing messages and calls as a major source of customer dissatisfaction within the Nigerian telecommunications industry, the NCC engaged network operators to develop effective solutions to address the issue. As a direct result of this regulator-operator

engagement, Etisalat has implemented the DND service, which is designed to offer subscribers greater choice in determining the type and frequency of messages they receive.

Further to the recent NCC directive, the DND service is now available on the Etisalat network, using a uniform shortcode, 2442, across all networks for ease of access.

Subscribers on the Etisalat network, can therefore access the DND service by sending ‘STOP’ to 2442. Customers can also request for a partial DND service, which will allow them to receive only a specified class of messages that are of interest to them such as sports, religion, and health among others.

To activate the partial DND service, customers are required to send ‘HELP’ to 2442 to receive information about the available classifications and their activation codes; then

send the activation code to 2442 to activate a specific class of messages.

Speaking about the new service, Director, Regulatory and Corporate Social Responsibility, Etisalat Nigeria, Ikenna Ikeme, highlighted the company’s record of compliance with regulatory directives and reaffirmed Etisalat’s commitment to enhancing customer experience on its network.

“Our customers remain our priority at Etisalat Nigeria, because we recognise their preferences, not only in terms of the quality of products and services available to them, but also with regard to their experience on our network. Ensuring that the DND service is available on our network is one of the ways in which we continue to enhance our bouquet of services and enrich customer experience on the Etisalat network,” Ikeme said.

Ethiopian Airlines Wins SkyTrax World Airline Award Ethiopian Airlines has announced that it has won SkyTrax World Airline Award for Best Airline Staff in Africa, for the second time, on July 12, 2016 at Farnborough Airshow event held in Hampshire, England.

SkyTrax awards are solely

based on customer survey and customer satisfaction measurement for their experience; from check-in to boarding, onboard comfort, cabin cleanness, food, beverages, inflight entertainment, staff service and associated travel items.

While receiving the award,

Ethiopian Group CEO Mr. Tewolde GebreMariam, remarked, “We are proud that SkyTrax, the most reputed customerservice tracking organisation in the airline industry, has recognised our service delivery for the second time. We thank SkyTrax for this recognition

and make the pledge to our customers to work even harder to meet their high expectations.

We also thank our valued customers for the strong vote of confidence in our services and for choosing Ethiopian as their preferred travel partner. I also take this opportunity to thank

and appreciate the hard work of my 12,000 strong men and women at The Ethiopian family who have made the airline a global winner.”

Ethiopian has received in the past an accolade in the same category from SkyTrax. Ethiopian is above all a customer-focused

Airline with global standard service and superior delivery through its hallmark Ethiopian flavored African hospitality.

Ethiopian is implementing a 15-year strategic plan, Vision 2025 that will see it become the leading Aviation Group in Africa offering its passengers’

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We Do Not Run Businesses, AMCON Clarifies Obinna Chima The Asset Management Corporation of Nigeria (AMCON) at the weekend reiterated that its primary assignments as mandated by the Act establishing it are recovery, restructuring and resolution of debts, stressing that it does not run businesses.

A statement from the corporate, which restated that AMCON’s intervention in the country actually prevented the collapse of so many businesses, maintained that the corporation still carries its operations within the mandate for which it was created by the federal government in 2010 to manage the huge non-performing loans (NPLs) in the banking sector.

“AMCON has not in any way abdicated that assign-

ment to ‘run businesses’ as perceived by some people.

AMCON has never and will not run any business. But as facilitators, we encourage competent professionals to manage businesses. So it is important we correct this wrong perception in some quarters,” the statement added.

In furtherance of the corporation’s responsibility of acquiring Eligible Bank Assets (EBAs) and putting them to economic use in a profitable manner, AMCON, the statement stated is in receivership of about 50 businesses and more than 180 businesses under enforcement.

According to the corporation, these interventions have saved so many businesses from going under, meaning that AMCON’s

involvements is in order and therefore cannot be faulted.

Some 400 obligors of AMCON account for more than N4.5 trillion, which is approximately 80 per cent of the total outstanding loan balance of the Corporation’s over twelve thousand accounts with obligors that have become recalcitrant over time despite obvious efforts of the Corporation.

In dealing with the challenge however, the corporation has seriously increased the tempo of its recovery activities using firmer negotiation strategies as well as utilizing the special enforcement powers vested by the AMCON Act to compel some of its recalcitrant debtors especially those that are politically exposed and business heavyweights to repay their debts.

NIMASA Assures International Shipping Community of Security in Nigeria Eromosele Abiodun In a bid to woo shipping companies to Nigeria and increase revenue for the federal government, the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside has assured the international shipping community and stakeholders of the country’s determination to eliminate piracy and criminality within her territorial waters.

Peterside stated this while addressing multilateral and development agencies on the side lines of the on-going IMO/MOWCA sponsored integrated sub-regional coast Guard function network in Brussels, Belgium.

Also, he noted that Nigeria is working with both local and

international counter piracy partners to eliminate criminality on her waterways.

According to Peterside, “We have a close working relationship with the United Nations Office on Drugs and Crimes (UNODC) in order to foster an integrated approach to dealing with the menace. We have also increased surveillance and have deployed world class maritime domain awareness assets in conjunction with the Nigeria Navy and the Nigeria Ports Authority to monitor our maritime environment.”

The NIMASA boss said that in addition, the country has deployed Maritime Patrol Aircraft (MPA) in collaboration with the Nigerian Air Force as well as other naval assets to patrol and monitor the country’s waterways.

He observed that as a signa-

tory to all IMO instruments and regulations relating to maritime security, Nigeria is committed to their compliance in order to eliminate piracy and criminality on the high seas.

Peterside noted that Nigeria was mindful of the serious risk posed by piracy and maritime crimes to life, navigational safety and the environment saying this is why NIMASA is strengthening the Regional Rescue Coordination Centre located in the country as well as enhance information sharing activities.

While responding to questions on rising cases of militancy in the Niger Delta region of the country, Peterside said Nigeria is adopting a multifaceted approach to deal with the challenge and assured the international shipping community that it is being tackled.

Zenith Bank Launches Mobile Banking Solution Zenith Bank Plc has launched a new mobile banking solution to make banking simpler and interesting.

The bank’s *966# Eazybanking solution, which was recently launched into the Nigerian market, will complement the effort of the Central Bank of Nigeria (CBN) to build a cashless economy and enhance financial inclusion.

The Unstructured Supplementary Service Data (USSD) banking solution enables people to perform financial transactions on all known mobile phones (Feature, Smartlite or Smart), without having to go on the net or download a

mobile app, a statement from the bank explained.

USSD is a Global System for Mobile (GSM) communication technology used to send texts between a mobile phone and an application program in the owner network and the adoption of this technology allows people to do a lot of banking transactions even on the most basic of mobile phones.

According to the bank, the simple solution allows anyone with a mobile phone to do transactions such as buy airtime, transfer money, pay bills, check your balance and even open a Zenith Bank account, anytime and anywhere.

“It positions the bank for future growth as internet penetration continues to deepen in Africa and the use of mobile phones becomes the new and preferred banking channel.

The USSD banking solution will complement the Zenith Mobile Banking application, already well accepted among its discerning customers.

“Customers register by dialing *966# from their registered mobile numbers and following a simple set-up as prompted by a string of instructions after which they can easily carry out banking activities anytime, anywhere, from the comfort of their mobile phones.

IPO for Kedari Investment Fund Opens Kedari Capital has announced the opening of its Kedari Investment Fund initial public offering to interested investors and the general public. The Fund which opened on the 11th of July 2016 and is set to close on the 19th of August 2016 is an open-ended unit trust scheme which invests predominantly in fixed income securities as well as in equity securities.

The Investment Fund was designed for investors seek-

ing to optimise their returns at minimal risk and also provides a relatively cheap opportunity for investors to build wealth at a considerably lower risk than direct stock investments and higher potential returns than fixed income instruments.

In his comment, Chairman of Kedari Capital, Segun Aina noted that “with this Fund we are offering investors the opportunity to have access to

professional portfolio management, a highly liquid Fund where investors can cash in their investments within the stated rules in the Fund’s Trust Deed.

Additional units in the Fund can be created and purchased on demand by subscribers on an on-going basis at a price computed in accordance with the Securities and Exchange Commission of Nigeria’s approved basis for computing offer price.”

MD/CEO, AMCON, Ahmed Kuru

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 22,664,815.74

-- Net Domestic Credit (NDC) ---- 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)

18,882,237.7

--Other Assets Net

-7,746,094.02

Reserve Money (Base Money)

5,758,634.07

--Currency in Circulation

1,811,090.48

--Banks Reserves

3,383,756.72 • Source - CBN

MANAGED FUNDS Initial Price (N) Stanbic Balanced Fund

Buying Price(N)

Selling Price

1,660.29

1,685.29

Stanbic IBTC NEF

1,000.00

11,002.32

11,326.67.11

Stanbic SIBond

20

120.47

120.47

Stanbic IBTC Ethical

1

1.10

1.13

Stanbic IBTC GIF

142.90

143.38

UBA Balanced Fund

1.2563

1.2493

UBA Bond Fund

1.3443

1.3443

UBA Equity Fund

0.8205

0.8074

UBA Money Market Fund

1.1510

1.1510

ARM Aggressive Growth Fund

N13.0544

N13.4480

ARM Discovery Fund

N288.2515

N296.9425

ARM Ethical Fund

N22.5268

N23.2060

ARM Money Market Fund

13.1030 (Yield % ) • Monetary Policy Rate - 13%

OPEC DAILY BASKET PRICE AS AT 14 JULY 2016 The price of OPEC basket of fourteen crudes stood at $42.88 a barrel on Thursday, compared with $43.19 the previous day, according to OPEC Secretariat calculations. The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Minas (Indonesia), Iran Heavy (IslamicRepublic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), EsSider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

SOURCE: OPEC headquarters, Vienna

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CIS Boss Unfolds Four-Point Agenda to Develop Stock Market Goddy Egene and Nosa Alekhuogie The President, Chartered Institute of Stockbrokers (CIS) Mr. Oluwaseyi Abe on Friday unfolded a four-point agenda designed to accelerate capital market development.

Addressing the stockbrokers on floor of the Nigerian Stock Exchange (NSE), Abe listed

the agenda to Rebranding, Education, Collaboration and Partnership (RECP). He explained that stockbrokers are being prepared to rebrand in order to take their rightful position in the financial market.

According to him, the market seemed gloomy at the present but there is hope that it would bounce back. He stated that other exchanges

T H E

such as NASD OTC Securities Exchange, FMDQ OTC Securities Exchange and Abuja Commodities Exchange have created alternative platforms for stockbrokers to practice.

He noted that the new trend in the financial market required additional skills on the part of Stockbrokers.

He noted that the Institute’s Continued Professional Develop-

N I G E R I A N

ment (CPD) has been expanded to bridge the skill gaps and position the Stockbrokers to key into emerging opportunities.

Abe explained that investor education has become more compelling as new products are being introduced into the market, there is the need for investors to understand the benefits and risks of investment in the capital market. The CIS

STO C K

boss stated that the Institute had placed premium on the need to intensify efforts aimed at creating more awareness of the relevance of the market to all categories of existing and potential investors who beat the closing gong yesterday.

Recently, the Institute came up with the innovative ideas aimed at enhancing the profile and bottom line of the organisation for

E XC H A N G E

the greater benefit of the market and members. In all these, let us envision togetherness in unity of purpose. I see a greater future of the market, stockbrokers and the Institute,” Abe said.

He commended the management of the NSE on its efforts aimed at developing the market and assured the exchange of the Institute’s continued collaboration to globalise the market.

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CITYSTRINGS

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

Succour for Abia Road Users The efforts of Abia federal lawmakers and the state government to ensure that federal roads in the state are rehabilitated are beginning to pay off, writes Peter Uzoho

Ubani (middle) and AfDB team inspecting roads in Aba...recently

R

oad users in Abia will soon heave a sigh of relief as efforts of the federal lawmakers and the state government to ensure that federal roads in the state receive a facelift have started yielding positive results.

This is as the Federal Roads Maintenance Agency (FERMA) and Ministry of Niger Delta Affairs have penciled down some roads in the state for rehabilitation.

A recent advertorial by the agencies, indicated that maintenance and repairs are to be directed at the critically failed sections of Umuahia-Ariam-Ikot Ekpene Road in Abia State, in the phase 1 of FERMA intervention projects for 2016, while the rehabilitation of Egbelu-Adaelu Road, off the Aba section of the Enugu-Port Harcourt Expressway, was captured in the phase 2, of FERMA proposed projects.

In the other hand, Ministry of Niger Delta in its 2016 capital projects listed consultancy services for civil works on Orie Ngodo-Lamara Road in Umunnochi LGA, Mbom-Ameke-Olokoro-Umuikae Road, in Umuahia North LGA, Abia/Akwa Ibom States and consultancy for the design and supervision of 7UP/Umuola-Nkwo Elechi Ohuru Road-a 5km road linking Aba North, Obingwa and Osisioma Ngwa Local Government Areas. That road when rehabilitated, would reduce pressure on the Ogbor Hill Bridge section of Aba-Ikot Ekpene Road.

The federal lawmakers are also working tirelessly to ensure that the Aba-Ikot Ekpene Road that links Abia, Akwa Ibom and Cross River States is rehabilitated. The Abia section of that road has failed completely, making it difficult for patrons from the neighbouring states, as well as Cameroon to access Aba. The Ohafia-Arochukwu road, which has been abandoned for years, also requires prompt attention. That road, if rehabilitated, would spur economic activities in Abia North.

The federal lawmakers are also working tirelessly to ensure that the AbaIkot Ekpene Road that links Abia, Akwa Ibom and Cross River States is rehabilitated. The Abia section of that road has failed completely, making it difficult for patrons from the neighbouring states, as well as Cameroon to access Aba

Arochukwu and Ohafia have large deposits of lime stone, which is a major raw material for cement production.

Senator Mao Ohabunwa, who represents Abia North Senatorial zone in the Senate, in 2015, attracted a team from the National Assembly to assess the deplorable state of that road.

This cheering development is no doubt the result of a good synergy between the Abia State Government and its representatives at the National Assembly. Unarguably, the state can achieve more as consensus is better than confrontation.

Provision of road infrastructure in Abia, especially Aba, would boost economic activities in the entire South-east and South-south regions of Nigeria, because of its geographical location and large population of artisans.

Aba is a confluence city linked to all the states in the South-east, South-south regions of Nigeria and it is the dream of the present administration in the state to establish a megacity that would not only have a seaport, but also industrial clusters that can converge Port Harcourt and Aba into a mega-industrial hub.

Aba is at a confluence, just about 40 minutes away from Ikot-Ekpene, Port Harcourt, Umuahia, Owerri, among others.

Governor Okezie Ikpeazu, on assumption of office, decried the deplorable condition of federal roads in the state, which according to him, has stifled business activities in Aba,

the pride of the South-east and South-south regions of Nigeria, touted to be the Japan of Africa, because of the entrepreneurial acumen of the residents.

The roads include Port Harcourt Road, Aba-Owerri Road, Ikot-Ekpene Road in Aba as well as Ikwuano-Ikot-Ekpene Road and Ohafia-Arochulwu Road.

According to Ikpeazu, “those roads are strategic to the economy of the state, especially Port Harcourt Road that hosts machine fabricators; however it is painful that we can’t access that road at the moment.”

To solve the incessant flooding of Port Harcourt Road, he revealed that it would require drainage of about 13 kilometres as well as the demolition of illegal structures in that area, stressing that the state government cannot afford the resources needed to do a very good job on that road.

He revealed that the state government is to access $200 million grant from the African Development Bank (AfDB), specifically for sanitation, storm water management and the rehabilitation of Port Harcourt Road, among other roads in Aba. Anthony Enukeme, chairman/chief operating officer, TONNIMAS Nigeria Limited, a wholly indigenous oil firm, based in Aba, lauded efforts of the state’s federal legislators to rehabilitate Abia roads, noting that investment in infrastructure, especially road and electricity, would encourage manufacturing and get the country out of its economic

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Ikpeazu acknowledging cheers from the crowd as he flags-off of the reconstruction of Aba Road and Umuahia dual carriage way…recently

Minister of Works, Power and Housing, Mr. Babatunde Fashola

The state government is in the last lap of discussion with the African Development Bank, geared towards accessing $200 million grant to rehabilitate Port Harcourt Road and check erosion in the Aba City centre, among other things, a move that was initiated by Senator Theodore Orji, the immediate past governor of the state now representing Abia Central in the red chamber of the National Assembly

doldrums.

He affirmed that the real sector holds key to the economic development of the country and advised government to create good business environment, among other essentials that would enable micro, small and medium enterprises function effectively.

Enukeme, insisted that the country’s economy will grow if government focuses more on the development of infrastructure.

Meanwhile, the state government is in the last lap of discussion with the African Development Bank, geared towards accessing $200 million grant to rehabilitate Port Harcourt Road and check erosion in the Aba City centre, among other things, a move that was initiated by Senator Theodore Orji, the immediate past governor of the state now representing Abia Central in the red chamber of the National Assembly. Senator Orji’s presence in the National Assembly has brought cohesion among the Abia federal lawmakers, who now speak with one voice on matters affecting the state.

The AfDB delegation, led by Mwila Aeron Katambula, a transport specialist with the Bank last week were in Abia State for the final lap of talks between it and the state government on some developmental projects of interest to the Bank in the state.

Ikpeazu, who received the team in company of some officials from the Federal Ministry of Works, Abuja, at the Government House, Umuahia, affirmed that the state can’t wait to see the commencement of reconstruction of some major roads in Aba, especially Port Harcourt and Ikot Ekpene Roads, among others.

Ikpeazu stated that providing road infrastructure in Aba is important to the state, noting that apart from being the

The failed portion of the Aba-Ikot Ekpene Road

commercial hub of Abia, Aba is the micro, small and medium enterprises (MSME) centre of Nigeria. “Aba is very important to the economy of both Abia and Nigeria,” the governor added.

He stated that road infrastructure, waste and storm water managements are the challenges faced in Aba. The Governor explained that the state does not have the resources to do good work at Port Harcourt and Ikot Ekpene Roads, noting that the visit of the AfDB to the state, has rekindled the hope of residents and other patrons to Aba that help would come soon and the roads would be rehabilitated.

According to Ikpeazu, “We have tried to do what is required of us in terms of ensuring that the ground work is done to enable AfDB come in.”

Speaking on why they’re in Abia, Katambula said, “We are eager to participate in the development of Abia State. Our mission today is a follow up to the meeting we had

before, we want to ensure that everything is ready, because we want to fast-track the projects that the Bank will take up in Abia.”

The AfDB and Federal Ministry of Works teams later met with the state’s Commissioner for Works, Hon. Eziuche Ubani, and that of Finance, Obinna Oriaku, and other top state government officials.

After several hours of meetings, Ubani led the two teams to Aba, on the spot assessment of the two key federal roads: Port Harcourt and Ikot Ekpene Roads, located in the commercial city.

The inspection tour offered the visiting teams the opportunity of first hand appreciation of the level of decay of the roads as well as the daily trauma and suffering of the residents and travelers in and around these two key federal roads.

AfDB is currently doing the technical analysis and studies of the roads before releasing funds for repairs of the roads in line with agreements reached with the

federal and state governments.

This explains why the AfDB team had to come with the Federal Ministry of Works team to meet with Governor Ikpeazu and his team in Abia.

During the visit to Aba, Ubani told the AfDB and Federal Ministry of Works team that the state government “is desperate to rehabilitate roads in Abia, and Aba in particular, to stimulate economic activities and drive development across the state.

“So far we’ve done a good number of roads, which fall within the responsibility of the state, but unfortunately, we can’t reconstruct federal roads without first agreeing terms with the Federal Government.

“Unfortunately we don’t have the amount of money required to repair these roads, especially Port Harcourt and Ikot Ekpene Roads and that is why we are delighted to have the AfDB here together with a team from the Federal Ministry of Works, to see the level of deterioration of these roads.”

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Adio: FG Has Lost $518m to Oil Swaps, OPAs The federal government has lost approximately $518 million to oil swaps and Offshore Processing Agreements (OPAs) in 2013 due to inefficiencies in the operation of the Nigerian National Petroleum Corporation (NNPC) and its subsidiaries.

The Economic and Financial Crimes Commission (EFCC) would soon be involved in investigating and prosecuting major culprits for appropriate sanctions over the revenue losses.

The Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), Mr. Waziri Adio, made the disclosures in an interview with the Economic Confidential, an intelligence magazine.

He said the federation lost $211.88million to crude for product SWAP, and $306.16 million of OPA, totaling $518 million.

Adio, who spoke against the backdrop of the just released 2013 Oil and Gas Industry Audit report, noted that the corporation and its subsidiaries also withheld some of the monies due to government.

“For instance, they withheld $3.8billion and N358 billion respectively. Now let us break it down this way. If you remember NNPC divested some of its interests in Shell Joint venture about eight Oil Mining Leases(OMLs) to Nigeria Petroleum Development

Company (NPDC), $1.29 billion from NLNG; N354bn from unpaid domestic crude debt; N3.98 billion from subsidy over-recovery in 2012 and N2.17 billion from cash-call refunds,” he said.

Furthermore, he said the report discovered $4.7 billion from theft and vandalism in 3 JVs—Shell, Agip and Chevron; and N20bn from not observing 90-day credit time value of money at 12per cent.

The issues captured, according to him, still need further elaboration.

“Now, NNPC Divested 55per cent in eight assets (OMLs) in Shell JV: OMLs 4, 26, 30, 34, 38, 40, 41, and 42. They were valued by DPR at $1.8 billion, but according to Price Waterhouse Coopers(PWC),

they should have been valued at $3.4 billion, given that Shell got $2.72billion for its 45per cent interest in those same assets.

This then mean that Shell’s 45per cent valued at 47 per cent higher than Federation’s 55 per cent.

“Let us look at it another way. Given the disparity between $3.4 billion and $1.8 billion, assets valued at 47per cent loss or discount. But even with discount or loss, NPDC paid only $100million, leaving an outstanding of $1.7 billion.

This means that NPDC paid only 5.6 per cent of the discounted value of $1.8 billion, and three per cent of actual value of $3.4

billion and yet enjoyed all the benefits, as oil from those assets lifted on behalf of NPDC and not the federation,” he said.

Speaking on the four assets under the Nigeria Agip Oil Company(NAOC) JV similarly divested; OMLs: 60, 61, 62, and 63, Adio noted that no valuation was done on those 4 OMLs; neither consideration paid, and yet oil was lifted on behalf of NPDC, not the federation.

He said despite the fact that 12 OMLs in the Shell and Agip JVs divested to NPDC, and not fully paid for or not paid for at all, NAPIMS paid cash-calls on some of these OMLs, namely, $536million paid as cash call

on the 4 OMLs from Agip JV, $389million refunded to NAPIMS, but refund not remitted to federation, apart from an outstanding of $147.8million not paid at all.

“There are also cash-calls also paid on some the divested OMLs from the Shell JV, which include $35.12million refunded to NAPIMS, but refund not remitted to Federation Account.

Records from NAPIMS showed request for refund of $414,000 and N249, 272,000 on OML 25 apart from request for refund of $2.17 billion on OML 42. You can’t imagine that these requested refunds were not made as at close of audits,” he said.

Buhari Condemns Coup in Turkey Tobi Soniyi inAbuja

President Muhammadu Buhari has joined other world leaders in vehemently condemning the aborted coup attempt in Turkey by a group of rebel army officers and men, which resulted in the reported death of more than 100 persons.

Buhari, in a statement by his Senior Special Assistant on Media and Publicity, Mr Garba Shehu, said he was “deeply saddened by reports of a violent attempt to dismantle constitutional authority and disrupt the democraticallyelected government of Tayyip Erdogan in Turkey.”

The president said the removal of a democratic government by force was no longer acceptable.

He said: “Violence can never solve any problem but only complicates them and sets back the progress of democratic societies.”

Buhari also noted that Erdogan was one of Nigeria’s close international partners and

sincere supporters in its current war against terrorism, adding that all should resist the “destabilisation of democratic countries through coups d’état in the 21st century.”

According to the president, democracy provides peaceful options of changing governments through the ballot box.

He said: “The ballot box doesn’t require violence to remove any government perceived to have lost its popularity and public support.

Despite its limitations, democracy is still better and more durable than a violent change of government.”

The president praised the courage and immediate response of ordinary citizens who in face of guns and tanks defied the soldiers and forced them to abandon their mad quest for power.

Buhari however, called on the President of Turkey to pursue reconciliation even as he offered Nigeria’s support to the government and people of Turkey in their hour of trial.

We Can Isolate Ourselves from Politics, Not from Governance, Says Emir of Kazaure The Emir of Kazaure, Alhaji NajibHussaini Adamu, has said the traditional rulers in the country can isolate themselves from party politics, but not from governance.

Speaking at a symposium on ‘Leadership and traditional institution in Nigeria/West Africa, organised by the Centre for the Study of Leadership and Complex Military Operations (CSLCMO) at the Nigerian Defence Academy(NDA)inKaduna,the Emir traced the leadership excellence of many historical icons in governance and military formations to the training from their traditional institution, saying that “heritage institution” provides foundational structures for leadership development.

“We can isolate ourselves from party politics but we cannot isolate ourselves from governance because governance affects people. The takeaway from the lives of many Kazaure heroes, as well as the legends in other traditions is that leaders must be innovative, and must be forward looking.

“Stubborn allegiance to convention in the light of changing dynamics ultimately leads to poor outcomes.

As a leader, one must thread the fine line between change and convention; exposure and open-mindedness, adaptability and above all, balance is critical.

“For our heritage institutions to remain critical parts of our societal and cultural consciousness, we must look to establish policies and processes that support heritage institutions’ future and sustainability.

“Our indigenous histories are relevant aspects of our social lives which we can explore to raise leaders that are capable of leading Nigeria and rather than look outside for leadership, we should begin to look inward into the legacies of the legends within our heritage institutions,” he said.

In the same vein, the Commandant of NDA, Maj. Gen. M.T Ibrahim, represented by the Deputy Commandant, Air Vice Marshall C.E. Okoye, emphasised that knowledge in history is key for military leadership and training pointing that “our history as a people still remains within the spaces of memories and there is a need to document them aid the training of future leaders.”

TOWARDS A BETTER TRADE IN AFRICA

L-R: Secretary General, UNCTAD, Dr. Mukhisa Kituyi; Cabinet Secretary for Foreign Affairs of Kenya, Mrs. Amina Mohammed; and the Secretary, Nigeria Investment Promotion Council, Mr. Olusegun Awolowo, at the opening ceremony of 14 UNCTAD meeting in Nairobi, Kenya....weekend

Arms Procurement Audit: Fayose Accuses Buhari of Protecting Corrupt Officials Olakiitan Victor in Ado Ekiti The Ekiti State Governor, Mr. Ayodele Fayose, has urged President Muhammadu Buhari to stop shielding his men from probe, just as he asked Nigerians to demand the release of the authentic report of the Committee on Audit of Defence Equipment Procurement in the Nigerian Armed Forces.

He described the claim by the federal government that the probe panel only looked into procurement and contracts awarded by the military between 2011-2015 because documents regarding procurement from 2007 to 2010 were not available as a clear indication of his support for corruption.

In a statement issued yesterday by his Special Assistant on Public Communications , Lere Olayinka, Fayose said: “It is now obvious to the entire world that anyone that is in President Buhari’s good books can never be adjudged as corrupt even if such a person is caught looting the entire money in Nigeria’s treasury.”

The governor said it smacks of sheer hypocrisy and nepotism for anyone to accept that fraud could have been perpetrated

on procurement and award of contracts in an establishment without the involvement of the director of procurement.

“There are many petitions relating to the defence from 2007 that are been discarded, the question is why? There are several petitions against APC leaders that are not being looked into, the question is why?

“Fighting corruption and targeting only opponents of the president is in itself corruption,” he said.

He said: “Buhari’s’ Minister of Interior, General Abdulrahman Dambazau (rtd), was Chief of Army Staff between 2008 and 2010 and the current Chief Of Army Staff, Major General Tukur Buratai served as Director of Procurements, Defence Headquarters, from 2012 till May 2015. “It is a fact that the committee in its terms of reference said it queried all procurement from 2007 to 2015. Even the press release issued was titled: ‘Third Interim Report of the Presidential Committee on Audit of Defence Equipment Procurement from 2007 to 2015.’

“First paragraph of the committee report also indicated

that it used 2007-2015 as reference, stating that the committee ‘analysed procurement contracts awarded by or for the Nigerian Army between 2007 and 2015.’

“Questions Nigerians must now begin to ask President Buhari and his government are: Where is the report of Presidential Committee on Audit of Defence Equipment Procurement relating to 2007 to 2010? Who doctored the committee report and why?

“Lai Mohammed said the committee would commence the audit of procurement from 2007 to 2010 ‘as soon as the necessary documents are available’, it is necessary that Nigerians are told who the custodians of the documents are. Why were documents on procurement from 2011 and 2015 available and those of 2007 to 2010 not available?

“Early this year, we were told that an ally of President Buhari and chieftain of the APC, Brig.

General Jafaru Isa (rtd), refunded N100 million of the N170 million he allegedly received from a former National Security Adviser (NSA), Col. Sambo Dasuki (rtd).

“Jafaru Isa who was a member of the 19-man Buhari Transition Committee was released after

he was allegedly assisted by the Presidency to refund N100 million to the anti-graft commission and since then, nothing has been heard about the case. He was not charged to court like others.

“It took the Ministry of Defence and ths Code of Conduct Bureau only one week to clear Buratai but others from the opposition party would be languishing in prison while EFCC go about fishing for evidence against them.

“Like I and other wellmeaning Nigerians have maintained, fighting corruption is a good idea but the moment documents of probe panels are being doctored to shield those seen as the President’s men, the entire purpose of the corruption fight has been defeated.

“The international community must therefore prevail on President Buhari to stop acting like the grandfather of corruption in Nigeria by making the anti-corruption war all-inclusive instead of this clear persecution of his perceived political enemies, and the first step to demonstrate that will be the immediate release of the report of the Presidential Committee on Audit of Defence Equipment Procurement covering 2007 to 2015.”

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Okupe: Jonathan Approved Funds I Received from NSA’s Office Faults reports of N162 million fraud allegation Gboyega Akinsanmi Former Senior Special Assistant to former President Goodluck Jonathan on Public Affairs, Dr. Doyin Okupe, yesterday disclosed that the former president approved all the funds he received from the office of former National Security Adviser, Col. Sambo Dasuki (rtd).

Besides, the former presidential aide faulted reports in some national dailies thattheEconomicandFinancialCrimes Commission (EFCC) interrogated him on alleged fraud of N162 million and N85 million.

He disclosed this in a statement he issued yesterday, explaining how he collected N30 million as his takeoff grants, N10 million for the running of his office and another N10 million furnishing his office.

In the statement, Okupe said the initial N50 million “was approved by the president to be paid to me from his security vote. N10 million was to furnish my rented living apartment and another N10 million for my office.

ThebalanceN30millionwasapproved as takeoff grant for my office.

“The N10 million I received from the Office of the NSA monthly was to run my office, pay salaries of staff, including overheads, pay expenses for our numerous press conferences, pay for publications in newspapers, magazines, local and foreign, television programmes, bulletins, and media consultants who assist and facilitate our work.

“I had about 23 staff, 11 were graduates out of which 5 were Master’s Degrees holders. Details were submitted to EFCC. The second N50 million was approved again by Mr. President when I

reported to him that the monthly allowance had been cut from N10 million to N5 million.”

He said he further explained to the former president that he “was no longer in a position to keep running a one-hour NTA network programme called INSIGHT which was aired 9-10 a.m. every Friday and some other days of the week.

We paid NTA about N1.2 million monthly for airtime. Two presenters were paid N600, 000 monthly. We paid for tapes and editing per programme.

“Besides, we also pay honorarium for guests either directly or inform of hotel bills for those outside Abuja, or transportation.

This cost averagely N500, 000 weekly or about N2 million monthly.

“All in all we spent about N4 million monthly on the programme.

Mr President promised to help with the expenses. About a few months later when we had incurred some debts, the NSA sent me a sum of N50m which was to cover the cost of the programme for 12 months.”

The former presidential aide expressed shocks at reports, which he said, claimed that the anti-graft agency interrogated him on alleged N162 million and N85 million frauds.

He said: “I saw strange figures like N 162million fraud, N85million fraud in the Media.

Also mention was made of some alleged dubious payments of N13million and N65million from contracts supposedly obtained from Chachanga Local Government Area in Niger State.

“The fact, however, is that my

Militancy: IYC Demands for Release of 10Youths Arrested by Military Sylvester Idowu in Warri The Ijaw Youth Council (IYC) yesterday demanded the immediate release of 10 youths arrested by the military about two months ago during the invasion of Oporoza community in Gbaramatu kingdom in Warri South West Local Government Area of Delta State.

The group also demanded the release of an ex-militant leader, Mr. Aboy Francis Muturu, who was said to have been arrested in the presence of his wife at Bomadi in Bomadi Local Government Area of the state.

The IYC, in a statement signed by its spokesman, Eric Omare, lamented that the arrested persons have been in military detention without trial, describing the action as unconstitutional and unlawful.

“These persons have been in military detention without trial. It is unconstitutional and unlawful for the military to arrest and dump people at their detention facilities without trial.

“Nigeria operates a constitutional democracy, hence actions of security agencies including the fight against insurgency in the Niger Delta region must be done within the ambit of the law,” it added.

The IYC expressed its support

for any legitimate fight against criminality in the region but maintained however, that such must be done within the ambit of the rule of law and respect for human rights.

It stated: “Anybody accused of an offence is presumed innocent until proved otherwise by the court. The military has no power to arrest anybody including the 10 Gbaramatu youths, Mr. Francis Muturu and any other Nigerian without trial.

“The 10 youths from Gbaramtu Kingdom have been in detention for more than two months and in the case of Muturu, his whereabout is unknown up till this moment since he was arrested by the military in the presence of his nursing wife on June 9, 2016 at Bomadi town.

“If the military has evidence of commission of crime against the Oporoza 10 and Muturu, we demand that they should be charged to court and let the court determine their guilt or innocence.

Otherwise, the IYC demand that they should be released without further delay,” it added.

The Ijaw youths warned that the fight against insurgency in the Niger Delta should not be used as a subterfuge to punish innocent people.

company Romix Soilfix was one of the over 20 construction companies who were duly awarded contracts

for rural roads some five years ago by the Niger State Government.

“Due to lack of funds, contractors

were paid irregularly thus making the job to drag on for long. The job is still on going. The relationship

of this to my service as Senior Special Assistant to President is still not clear.”

BOSOM FRIENDS

L-R: Chaiman, MDS Technologies, Mr. Oladele Oyelola; Managin, Director, THISDAY Newspapers, Mr. Eniola Bello; General Funsho Owonibi (rtd); and General Manager, Retail Banking and Real Estate Investment, Aso, Savings and Loan Plc, Mr. Richard Bello, at the wedding reception of Mr. and Mrs. Stephen Ojirika, in Abuja....weekend Enock Reuben

BoI Seeks Commodity-based Industrialisation for Inclusive Growth Crusoe Osagie The Bank of Industry (BoI) has emphasised the need for Nigeria to adopt a commodity based industrialisation strategy to achieve inclusive growth.

The development finance institution (DFI) noted that Nigeria must add value to its natural resource endowments, stating that according to the Raw Materials Research Development Council (RMRDC), the 774 local government areas in the country all have natural resource endowments begging to be utilised.

The Acting Managing Director, Mr. Waheed Olagunju, during BOI media parley tagged: ‘Sustaining Nigeria’s Industrial Sector Growth through Impactful Partnerships’, said the major difference between the rich and poor nations of the world is their level of industrialisation, saying that industrialisation is a multidisciplinary process where everybody has a role to play to achieve industrialisation.

He however, commended the present administration’s effort for adopting the Nigerian Industrial Revolution Plan (NIRP) and the Nigerian National Enterprise Development Programme (NEDEP) established by the previous administration, maintaining that this move would go a long way to boost a commodity based industrialisation strategy for Nigeria.

“Nigeria must add value to its natural resource endowments. I want to say here that the huge unemployment rate in Nigeria is artificial. If we start adding value to our natural resources, we will

not have enough manpower to operate in the Nigerian economy.

The 774 local government areas have a natural resource endowments lying fallow. If we start adding value to them, we would stimulate primary production, processing, meet our local needs and even export.

We will not be depending on oil prices which we have no control,” he said.

He said: “We need to propagate commodity based industrialisation. We need to advocate it a lot. The present administration has also adopted the NIRP and NEDEP to boost commodity based industrialisation strategy by adding value to our natural resource endowments across the country. Unless Nigeria gets it right, Africa cannot make it. Every country is looking on Nigeria for Africa to make it and we must not disappoint ourselves, we must not disappoint Africa and we must not disappoint the black race.”

He added, “We do not need rocket science to transform our economy, other oil producing countries have diversified their economies. There is need to increase the contribution of the manufacturing sector to our Gross Domestic Product (GDP) to double digits. The media has a role to play in economic transformation because it is one of the biggest change agents in all societies.

The media has to partner the BoI to achieve this. We need your partnerships, we need your collaborations. The only way we can achieve inclusive growth is if we embark on commodity

based industrialisation strategy.”

He said BoI is also collaborating with developmental partners, while encouraging state governments

to establish industrial parks to localise industrialisation in order to reduce the start and operating expenses for entrepreneurs.

General Compulsorily Retired Sues Nigerian Army, Seeks Reinstatement Tobi Soniyi in Abuja One of the army general affected by the recent massive retirement in the armed forces, Major General Ijioma Nwokoro Ijioma, has dragged the Nigerian Army to the National Industrial Court, seeking to over turn his retirement.

In the case filed by his lawyer, Chief Mike Ozekhome (SAN), the general is asking the court to declare that his purported compulsory retirement from the services of the Nigerian Army, vide letter dated 9th June, 2016, titled, “Compulsory Retirement NAOfficer Major General Ijioma Nwokoro Ijioma (N/8304)” pursuant to the provisions of paragraph 09.02c(4) of theHarmonisedTermsandConditions of Service for Officers of the Armed Forces (HTACOS) 2012 Revised, did not follow due process and is consequently illegal, invalid, wrongful, unlawful, unconstitutional, null and void and of no effect whatsoever.

He wants the court to set aside the letter of compulsory retirement and to order his immediate reinstatement to his rank and payment of all entitlements and perquisites of office due to him pursuant to the order setting aside the letter of compulsory retirement dated, June 9, 2016.

Ijioma also asks the court to compel the respondents jointly and severally to pay him the

sum of N1 billion as general, aggravated, punitive and exemplary damages for the unlawful, wrongful, illegal, unconstitutional and oppressive compulsory retirement and the attendant humiliation, psychological trauma, mental agony and odium caused him and his family, by the actions of the Respondents.

Apart from the Nigerian Army other respondents are the Minister of Defence, Chief of Defence of Staff and Chief of Army Staff.

He also asked the court to declare that he was never validly and legally retired from the services of the Nigerian Army on June 9, 2016, vide letter dated June 9, 2016, issued by theArmy Council pursuant to its meeting of the same date, or at any other time.

He prays the court for an order restraining the Respondents from giving or continuing to give effect to the letter dated June 9, 2016, purported to have compulsorily retired him from the service of the Nigerian Army.

He is also seeking an order restraining the respondents, from obstructing, disturbing, interfering, stopping or preventing him in any manner whatsoever, from performing the functions of his office as a serving Major General of the Nigerian Army in the last position and place of assignment, before

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MONDAY JULY 18, 2016 • T H I S D AY

NEWSEXTRA

Edo Guber: Business Community Rallies Support for Obaseki The governorship ambition of the All Progressives Congress (APC) standard in Edo State, Godwin Obaseki, received a major boost yesterday, as friends and business associates hosted a fundraiser in his honour at the Landmark Event Centre in Lagos.

Themed: ‘An Evening With GO’, the event, which was well attended by top business leaders, captains of industry, party leaders and government functionaries, also served as the formal launch of ‘The Essential GO’ book – a testimonial biography on the life and passion of Godwin Obaseki.

In his Foreword to the book, the Minister of Power, Works

and Housing, Babatunde Raji Fashola, noted: “Godwin Obaseki is truly a remarkable figure with limitless talent, a big heart, and a self-effacing, down-to-earth personal style that gives no indication of his extraordinary accomplishments.”

“The Essential GO: An Insight into the Life & Passion of Godwin Obaseki is as much for those who have had a personal encounter with Godwin Obaseki as it is for those who haven’t. The underlying theme of the book, as mirrored by the exemplary life of Godwin Obaseki, is that true greatness can only be achieved through a life of purpose and service.”

Attesting to Obaseki’s enterprise, President and CEO of Dangote Industries Limited and Africa’s most successful businessman, Aliko Dangote, stated in the book: “After over three decades in business, I have learnt that personal integrity is as important as executive skill in business dealings, and Godwin has both in abundance.

“Godwin is a thoroughbred financial expert: His work with Afrinvest - and as a member of several government committees - speaks volumes of his abilities.

Whether in private enterprise or public administration, I have absolutely no doubt that Godwin will make a success

of any venture he aspires to.”

In his testimonial, the Director-General of the Nigerian Stock Exchange (NSE) stated, “Godwin is a sound professional who understands the linkages between business and the economic well being of the people. Perhaps, his strongest quality is his high integrity. His ‘can do’ attitude and friendly personality also make him a great and dependable leader.”

The Essential GO also featured statements by many other notable business leaders and financial experts including Hakeem Bello-Osagie, Chairman of Etisalat Nigeria;

Troops Intensify Offensive against Cattle Rustlers in Zamfara Kill 11 bandits, recover 122 livestock Senator Iroegbu in Abuja The Nigerian troops involved in live field training exercise code named “Exercise Harbin Kunama”, have intensified patrol and operation to clear cattle rustlers from the various forests in Zamfara State.

The exercise was launched last week by President Muhammad Buhari as part of the activities marking the Nigerian Army Day

celebrations (NADCEL) 2016.

The Director of Army Public Relations (DAPR), Col. Sani Usman, in a statement yesterday, said that troops of 223 Battalion while on patrol encountered armed bandits at Madaka village, Maru Local Government Area of the state in which they killed nine armed bandits.

Usman said the troops also recovered three AK-47 rifles, two AK-47 rifles magazine, three

Police in Minna Confirm Attack on Catholic Church Laleye Dipo in Minna The police in Minna, the Niger State capital yesterday confirmed the attack on a Catholic church at Baki-uku in Madella area of Suleja at the weekend.

Police spokesman, Bala Elikana, told journalists that the force was already on the trail of the perpetrators of the crime.

Elikana said no life was lost in the attack which however led to the destruction of the windows and musical instruments of the church.

Saying, “We will get those involved in this illegal act,” Elikana assured residence of Suleja and the entire state that the police would continue to do its best to protect their lives and property.

Armed policemen have been dispatched to the area to maintain law and order, he submitted, adding that peace had returned to the troubled community.

Some Muslim youths numbering over 200 fresh from observing the Friday service invaded the Catholic church during which they reportedly manhandled the security men on duty and some women praying inside the church.

The grouse of the Muslim youths was that the church was holding prayers on a Friday, a day they claimed was dedicated to Muslims to pray.

The church leadership claimed the security men and some women attacked were taken to an undisclosed hospital for treatment but police spokesman Elikana denied that anyone was injured.

“They should take us to the

hospital where these people were admitted,” he requested.

rounds of 7.62mm (Special) ammunition, a machete and 24 motorcycles.

He also said local vigilantes at Yargada village, Gusau Local Government Area apprehended a fleeing suspected armed bandit and handed him over to troops deployed at Magami.

In a related development, he stated that the troops have also raided a bandit camp at Gangamai village in Dansadau Local Government Area.

Usman said during the raid, there was an exchange of fire between the troops and the armed bandits.

He however stated that the bandits escaped with gunshot wounds.

The army spokesman said the troops recovered two Dane guns bags containing marijuana. sHe disclosed that another team also carried out raid on cattle rustlers and armed bandits camp at Gidan Mai Jaja in Dansadau general area.

“Here, the rustlers and armed bandits fled on sighting the approaching troops abandoning 85 cows, 37 sheep and a donkey,” he stated.

Similarly, he said, another patrol team also carried out a raid on a armed bandits and cattle rustlers camp at Gobirawan Kwacha where they killed two armed bandits and recovered a machete.

Asue Ighodalo, Chairman, Sterling Bank Plc; Phillips Oduoza, GMD, UBA Plc; Ike Chioke, MD, Afrinvest West Africa Limited; and Evelyn Oputu, former MD, Bank of Industry, among others. They extolled Obaseki’s strong values of honesty and diligence while also highlighting his exceptional business savvy, excellent administrative capacities, dynamic leadership style and commitment to service.

Responding to the outpouring of support at the event, Obaseki said: “I am deeply humbled by the vote of confidence passed on me by colleagues in the financial services sector and the business community at large.

As Chairman of the Edo State Government’s Economic and Strategy Team since 2009, I have a firm grasp of the economic and developmental challenges of the state, and I pledge to use

all my experience in my over 30 year career in the international and domestic corporate finance market to reengineer the economy of Edo State for the prosperity of the people.”

Among the business leaders in attendance were Dapo Osinusi, Chairman, Mansfield Energy; Asue Ighodalo, Chairman, Sterling Bank Plc; Peter Obaseki, Managing Director, First City Monument Bank; Ike Chioke, CEO ofAfrinvest WestAfrica Limited; David Ladipo, Managing Director, Azura Power Limited; and Victor Ogiemwonyi, Managing Director, Partnership Investment Limited Also present were key party leaders and government functionaries including Senator Bola Ahmed Tinubu, National Leader of the APC; Chief John Oyegun, National Chairman of the Party; Comrade Adams Oshiomole, Governor of Edo State; Akinwunmi Ambode, Governor of Lagos State; and Fashola.

MONDAY JULY 18, 2016 • T H I S D AY

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NEWSEXTRA

PDP Demands Fair-play from Buhari, APC in Edo Traditional rulers adopt Ize-Iyamu

Onyebuchi Ezigbo inAbujaand Adibe Emenyonu in Benin City The Peoples Democratic Party (PDP) has asked President Muhammadu Buhari and party, the All Progressives Congress (APC), to ensure a level playing ground in the forthcoming September 10 governorship election in Edo State.

The party in a statement yesterday, said the stage is now set for the people of the state to decide among the parties’ candidate who is more prepared to deliver democracy dividends to the people of the state.

In the statement, the PDP’s spokesman described the commencement of campaign of the All Progressives Congress (APC) candidate as a charade and full of old empty promises that have become the trademark of the APC at the federal level and in all the states controlled by the party.

“Nigerians now know better and the people of Edo State have also tasted the difference between the government of the PDP and that of the APC and will decide on Saturday, September 10, 2016 who will govern them.

“We have seen it before and we are seeing it again with the usual

empty promises of the APC. They will promise everything to deceive the people and will go 360 degrees denouncing all their promises once they grab power.”

“The PDP re-iterated the fact that they are on a rescue-mission in Edo State to redeem the people from the ‘go-and-die’ government of the APC that has no regard for the ordinary people except to impose heavy tax without tangible projects in the state.

Adeyeye urged the people of Edo State to protect their PVC and come out en-mass on Saturday, September 10 and vote for the Flag-bearer of the PDP Pastor OsagieIze-Iyamu in order to rescue the state from the firm grip of deceitful government, and to provide the desired democracy dividends for the people.

Meanwhile, traditional rulers in the Edo Central senatorial district at the weekend in Uromi adopted the governorship candidate of the PDP candidate, Pastor Osagie Ize-Iyamu, and directed their subjects to vote for him in the forthcoming election.

The traditional rulers from the area, numbering 18 who gathered to receive the PDP governorship candidate at the palace of the Ojuromi of Uromi, Anslem Eidenojie, lamented the sustained

marginalisation of Esanland and her people in a state they said belonged to all.

Three traditional rulers, namely: Ojuromi of Uromi, Ehidiamen of Opoji and Izuware of Ujiogba, on behalf of others, lamented what they described as continued subjugation of Esanland and appealed to the PDP

candidate to correct the imbalance once he gets to office.

Addressing Ize-Iyamu, the Ojuromi of Uromi, said, “We know you very well. You are a man, who has direct relationship with virtually all the Enigie (traditional ruler) of Esanland.

“You are a son of the former

Esogban of Benin Kingdom. You are a son of tradition. Your father served in the Palace without blemish. He did not betray the Palace.

“We the Enigie in Esanland believe that if we give you our support, you will not betray us.

We want to say that Esan nation is part and parcel of this state. We

know how much we have been relegated in our own state and we are very unhappy about it.

He expressed gratitude to IzeIyamu for accepting an Esan son as his running mate, saying “our saying thank you to you will not just be by words of mouth, we will use our PVCs to say thank you to you.”

FG to Revamp 10,000 Primary Health Care Centres Nationwide Adibe Emenyonu inBeninCity The Minister of State for Health, Dr. Osagie Ehanire, at the weekend, disclosed that the federal government’s readiness to revamp a total of 10,000 Primary Health Care (PHC) centres nationwide to the meet healthcare needs of rural residents at the grassroot.

Ehanire, who spoke in Benin City during the unveiling of the maiden edition of the Edo State branch of the Nigerian Medical Association (NMA) Journal titled: ‘Annals of Medical and Surgical Practice,’ said the essence of providing 10,000 PHC centre’s in all the 36 states of the federation

is to ensure and provide quality health service delivery.

While lamenting the incessant strike in the health sector, he noted that the role of the medical practitioners can not be over emphasised, stressing the need for commitment and management on the part of the doctors to improve healthcare delivery in the country.

According to him, each state in the country is to get the sum of $1.5 million to drive the revitalisation of the PHC projects, adding that a total of $500 million has been borrowed by the federal government to boost healthcare system delivery in the country.

“There must be enough

commitment to develop the health sector. All the problem about utilities is largely to an extent due to management challenges. A hospital is not run only by doctors.

It is also run by Nurses, other health professionals group, auxiliary professions and also by managers, people who are not even medical doctors at all such as the management engineers to keep things going.

We need improvement in all these sectors to be able to rival those countries where our people go to for medical treatment,” Ehanire said.

He frowned at the increase in medical tourism, noting that

as critical as the health sector is, industrial disharmony and unhealthy rivalry among healthcare professionals is inimical to growth and development of the sector.

The minister stressed that “too much strike in the health sector has compelled patients to seek for alternative medical care in foreign countries.

Ehanire pledged government commitment to avert issues of strike by the NMA, adding however that although NMA is doing its best to keep the hospitals running.

He called for patience among the health care practitioners to allow for understanding.

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INTERNATIONAL

email:foreigndesk@thisdaylive.com

Cleveland on Edge as Republicans Arrive for Convention Zacheaus Somorin withagency reports The city of Cleveland is on edge as the Republican convention starts today. Months of planning and reassurances from top city officials have done little to quiet concerns over the potential for violent clashes between law enforcement and protest groups descending on the city ahead of this week’s Republican National Convention.

The GOP arrives in Cleveland amid nationwide demonstrations against police violence and in the bracing aftermath of a deadly ambush on police officers earlier this month in Dallas. Ramped up anxieties following another catastrophic terror attack on French soil present another challenge to a police department currently under federal oversight after the Justice Department determined in 2014 that it had engaged in “a pattern or practice of the use of excessive force.”

“I am concerned about the prospects of demonstrations getting out of hand. I am concerned about the possibility of violence,” Homeland Security Secretary, Jeh Johnson told a congressional committee on Thursday, days before thousands of protesters began to

stream into Cleveland ahead of Donald Trump’s coronation. A day earlier, Amnesty International, the human rights group, announced it would for the first time send trained observers to both the Republican and Democratic conventions to monitor police tactics.

Officials have consistently pushed back on criticism -- some of it from within their own ranks -- that Cleveland’s embattled force is not properly trained or equipped to keep the peace. “We have planned, we have ‘what-if’ed,’ we have table-topped this from day one to yesterday, and everything that can and will happen we have planned for,” Cleveland Police Chief Calvin Williams said last week. But authorities have been tight-lipped about preparations, with Williams declining to elaborate, citing their “sensitive” nature.

The head of Cleveland’s police union, Stephen Loomis, has been a leading critic of the city’s planning.

Despite being equipped with a $20 million bounty including motorcycles, horse trailers, flexible handcuffs and 2,000 new sets of protective gear, Loomis is worried that his colleagues will hit the streets handicapped by a bumbling city government.

“They ordered (the equipment) without measuring anybody,” he

told CNN, meaning the expensive new gear required alterations to fit over larger officers’ bulletproof vests. This is a particular worry after the Dallas attack and given the state’s open carry gun laws, which allow licensed firearm owners to holster their weapons even within the convention’s 1.7 square-mile

event zone, where other potentially dangerous items like knives and crowbars have been banned.

“It’s legal to bring your guns, but it’s not responsible,” Loomis said in an interview Saturday. “That makes for mayhem. We’re going to have two very passionate groups on opposite sides of the world as

far as ideologies go. The last thing that we need is for anyone on either side to have armed. And that’s going to make our job very difficult, as we’re standing in between them.”

Williams, who posted an open letter on the department website July 6 seeking to reassure

anxious residents, told reporters on Wednesday the city was “bound to uphold the (open-carry) law in the state.” Citizens for Trump, which backs the presumptive nominee and will hold a rally Monday, has hired what executive director Tim Selaty described to CNN as “special forces” to help safeguard their event.

Why China will Not Accept Award by Arbitral Tribunal in South China China has rejected an award by the Arbitral Tribunal in the South China Sea Arbitration, an award that caused strong indignation and resentment from Chinese people and government.

A statement from Mr. Chao Xiaoliang, the Consul General of the Consulate General of People’s Republic of China in Lagos said the award is null and void and has no binding force.

“China’s territorial sovereignty and maritime rights and interest in the South China Sea shall under no circumstances be affected by the award. China opposes and will never accept any claim or action based on the award.”

Proffering reasons for the country’s position, the consulate general said:

“The activities of the Chinese people in the South China Sea dated back to over 2,000 years ago. China is the first to have discovered, named, explored and exploited Nanhai Zhudao and relevant waters, and the first to have exercised sovereignty and jurisdiction over them continuously, peacefully and effectively and thus establishing territorial sovereignty and relevant rights and interests in the South China Sea. “But following the end of the Second World War, China recovered and resumed the exercise of sovereignty over Nanhai Zhudao which had been illegally occupied by Japan during its war of aggression against China.”

The consulate further stated that the crux of the relevant disputes between

China and the Philippines in the South China Sea is the territorial issue caused by the Philippines’ invasion and illegal occupation of some islands and reefs of China’s Nansha qundao (the Nansha Islands) and the issue of delimitation of some maritime areas in the South China Sea. “Territorial issues are not subject to the United Nations Conventions on the Law of the Sea (UNCLOS), and the issue of maritime delimitation has been excluded from the application of the UNCLOS dispute settlement procedures by the optional exceptions declaration that China made in 2006 pursuant to Article 298 of UNCLOS.” The consulate also pointed out that the unilateral initiation of

arbitration by the then government of the Republic of the Philippines breached the agreement between China and the Philippines to resolve relevant disputes in the South China Sea through negotiation, which goes against the solemn commitment made by the Philippines in the Declaration on the Conduct of Parties in the South China Sea (DOC), runs counter to the restrictive provisions of UNICLOS concerning the application of arbitral procedures, violates the general practice that arbitration shall be premised on state consent, and infringes on China’s right as a sovereign state and a state party to UNICLOS to choose means of dispute settlement of its own will.

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NATIONAL PRIMARY HEALTH CARE DEVELOPMENT AGENCY (NPHCDA) DEPARTMENT OF PRIMARY HEALTH CARE SYSTEMS DEVELOPMENT (PHCSD) NIGERIA STATE HEALTH INVESTMENT PROJECT (NSHIP) CALL FOR EXPRESSION OF INTEREST FOR NSHIP ADDITIONAL FINANCING CONTRACT MANAgeMeNt ANd VerIfICAtION AgeNCy (CMVAS) A. Introduction:

(xv)

The National Primary Health Care Development Agency (NPHCDA) is a parastatal of the Federal Government under the Ministry of Health, responsible for the development and strengthening of primary health care services in the country.

Provide feedback on a regular basis to the SPHCDA and the NPHCDA on the implementation of PBF in the concerned LGAs and provide written feedback quarterly reports as well as an annual report

(xvi)

Carry out such tasks as the NPHCDA reasonably requests to facilitate the successful implementation of PBF in the assigned LGAs.

(xvii)

In selected LGAs, establish mobile teams that visit under-served and difficult-to-reach communities on a regular (most likely monthly) basis and provide a broad package of curative, preventive, and promotional services in line with the PBF minimum package of activities

The NPHCDA is currently implementing the World Bank Supported Nigeria State Health Investment Project (NSHIP). NSHIP is a Results Based Financing (RBF) health systems strengthening intervention currently operational in three Nigerian States of Adamawa, Nasarawa and Ondo.

NSHIP has secured an Additional Financing (AF) with a view to expanding the Performance Based Financing (PBF) component of the project to five additional North Eastern States of Borno, Yobe, Bauchi, Taraba and Gombe. The expansion is inline with the Presidential initiative on revitalizing the health sector in the insurgency ravaged North East states. The project is building on its observed positive impact in the existing project states, as regards the delivery of high impact maternal and child health services of constantly improving quality. The project also has built on incentive structures for health workers and a technical assistance component.

To this end the NPHCDA requires consultancy services form qualified Contract Management and Verification Agencies (CMVAs) to provide technical assistance for the operationalization of the project in the 5 Additional Financing states.

B. Scope of Service The Scope of Services for this consultancy includes the following: (i)

Introduce and support the implementation of PBF in a defined number of LGAs. 70% of the CMVA’s compensation will be based on a performance framework for timely and high quality deliverables related to PBF;

(ii)

Review and approve the business plans of health facilities;

(iii)

Sign and manage PBF contracts with individual health facilities based on the project implementation manual and in accordance with the facility’s business plans;

(iv)

Carry out ex-ante verification of quantity of services on a monthly basis and certify that the invoices produced by the health facilities reflect the actual services recorded in the health facility’s registers and records.

(v)

(vi)

(vii)

Facilitate the condu ct of supervision of health facilities by the LGA PHC department staff and hospital management board (HMB) including the accurate and timely quarterly assessment of quality using the Quantitative Supervisory Quality Checklist (QSQC) and the Integrated Supportive Supervision Checklist (ISS). The CMVA will contract the LGAs, HMB and provide training and support to the supervisors in the application of the QSQC and the ISS; Develop a monthly supervision strategy to coach health facility staff on the accurate management of registers and filing of receipts, invoices and other key PBF documents, as well as the application of clinical procedures according to national and international norms and standards, which will be verified on a quarterly basis through the ex-ante quality verification exercises; Ensure that the CMVA verifiers are able to properly use new technology that will systematize data collection during verification. The CMVA will be responsible to ensure that the Cloud Computing software (OpenRBF) is used to upload verified data and quality scores, and report any issues with data quality or capture to the SPHCDA and NPHCDA. At least once per quarter, when the quantity and quality data have been entered, the CMVA will print out a consolidated LGA PBF invoice for submission to the LGA PBF Steering Committee for scrutiny and validation, and then to the SPHCDA for payment;

(viii)

Act as the secretariat for all the LGA PBF Steering Committees in the LGAs where it is working;

(ix)

The CMVAs will follow up with health facilities and SPHCDA whether timely payments were made;

(x)

(xi)

Selection Criteria

The selection of the firm/organization will be based on the following criteria: (i)

Evidence of registration /incorporation with the Corporate Affairs Commission to provide services in the area of project management, financial management, procurement, monitoring and evaluation and consultancy services;

(ii)

Deep understanding of the health sector in Nigeria and experience with the actual delivery of primary health services;

(iii)

A resident office in the North Eastern State they are applying to provide services for;

(iv)

Evidence of Tax and VAT certificates;

(v)

Proven understanding of PBF and its application in the Nigerian context will be an added advantage;

(vi)

Solid track record in health programs and project management experience, preferably in the State where the intervention is proposed; ability to change from input programming to output based programming;

(vii)

A reputation for integrity with at least 5 years of demonstrated experience working in Nigeria and at least some of that time working in the North East states;

(viii)

Comprehensive listing of mix of staff to be deployed: Team of highly talented individuals with at the least: (a) an overall manager who will be available for the duration of the contract lead the team and guide PBF; (b) a finance and administration officer; and (c) a Monitoring and Evaluation officer, (d) a data analyst; (e) an office manager;

(ix)

The overall manager profile: (a) has a master’s in public health, health economics or epidemiology; (b) has at least five years’ experience in project management or health programs; (c) preferably has taken a high level PBF course;

(x)

A good understanding of the local language in the State of Assignment is an added advantage

APPLICATION PROCEDURE 1)All interested firms/ organisations should submit their expression of interest letter by email marked: “EXPRESSION OF INTEREST FOR PERFORMANCE- BASED FINANCING CONTRACT MANAGEMENT AND VERIFICATIN AGENCY (PBF-CMVA)” and address to: The Executive Director/CEO National Primary Health Care Development Agency Plot 681/682, Port-Harcourt Crescent, Off Gimbiya street, Area 11 Garki-Abuja Attention: National Project Coordinator NSHIP 2)

Provide coaching and mentoring to the officers-in-charge (OICs) of health facilities so as to improve their performance. This will include helping them with analysis of the facilities own data. Identify poorly performing OICs and propose recommendations to the LGA and SPHCDA for further action;

Candidates should indicate in their application letter which particular State they are applying to work in among the five AF NSHIP states.

3)

Prepare a folder and include all relevant documents as listed in ‘Selection criteria‘ above

4)

Analyze PBF data coming from facilities and the QSQC and provide feedback to the health facilities, LGA PHC Departments, the HMB, and the SPHCDA about its findings.

This will specifically include findings related to quantity and quality of services (trend analysis, best and poor performing HFs/LGAs, financial disbursements per indicator etc.), collaboration with the community, understanding of PBF by health workers, and financial management;

All emails sent to: Leks_Olu1@yahoo.co.uk, and copy: nnennaihebuzor@yahoo.com, aodutolu@worldbank.org, fmustapha@ owrldbank.org, ajuluchukuchukelu@yahoo.com, alyzon2001@yahoo.com,

5)

Contact Telephones for enquiries: +2348033338333, +234803750682, +2348056336614, +2347035830644, +2348033196046, +2348180664984

(xii)

Manage the performance frameworks with the LGA PHC departments and the HMB staff and facilitate prompt payment for those staff who meet their goals in the frameworks;

(xiii)

Facilitate the work of the Independent Verification Agency (IVA) and ensure that sanctions specified in the PIM are imposed on facilities or staff of the LGA PHC Departments and the HMB;

(xiv)

C.

If any of the concerned LGAs are implementing a free care policy for maternal and child health services, ensure that there are no additional user-charges levied on patients;

Closing date of submission is is 6 weeks from the date of publication.

Please Note: 1)

The NPHCDA reserves the right to reject any document it considers to be of doubtful authenticity

2)

Late submission will not be entertained

3)

This notice shall not be construed to be a commitment on the part of the Agency to award any form of contract to any respondent nor shall it entitle any organization to claim any indemnity from the Agency.

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T H I S D AY MONDAY JULY 18, 2016

NATIONAL PRIMARY HEALTH CARE DEVELOPMENT AGENCY (NPHCDA) DEPARTMENT OF PRIMARY HEALTH CARE SYSTEMS DEVELOPMENT (PHCSD) NIGERIA STATE HEALTH INVESTMENT PROJECT (NSHIP) CALL FOR EXPRESSION OF INTEREST FOR NSHIP ADDITIONAL FINANCING INdePeNdeNt VerIfICAtION AgeNCIeS (IVAS) financial management, procurement, consultancy services and monitoring and evaluation.

A. Introduction: The National Primary Health Care Development Agency (NPHCDA) is a parasatal of the Federal Government under the Ministry of Health, responsible for the development and strengthening of primary health care services in the country.

The NPHCDA has been implementing the World Bank Supported Nigeria State Health Investment Project (NSHIP) in three Nigerian States of Adamawa (Northeast), Nasarawa (North-Central) and Ondo (Southwest). NSHIP is a Results Based Financing (RBF) health systems strengthening intervention focused on improved service delivery, remuneration of health facilities based on actual services delivered and institutional strengthening. As a result of the observed positive effect of the project in the existing states, the project has secured an Additional Financing (AF) from the World Bank to become the vehicle for the Federal governments initiative to revitalize the insurgency ravaged health service delivery structures in the five other North-eastern states of Borno, Yobe, Bauchi, Taraba and Gombe. The Additional Financing states will implement the Performance Based Financing (PBF) aspects of the project, and the project has built in incentive structures for health workers and a quality assurance technical assistance component for the delivery of high impact maternal and child health services.

In order to ensure a sensible separation of functions in keeping with PBF best practices, an Independent Verification Agency (IVA) will be recruited by the National Primary Health Care Development Agency (NPHCDA). One IVA will be recruited per State.

B. Scope of Service The Scope of Services for this consultancy includes the following: (i)

The IVA will carry out ex-post verification of the declared (claimed), validated and paid services to establish the level of concordance with the ex-ante verification on a quarterly basis, as stipulated in the NSHIP project documents;

(ii)

Analyze the differences between the ex-post and ex-ante (initial) quality assessment using the quantitative supervisory quality checklist (QSQC), and determine if there are substantial differences in line with the project documents;

(iii) Carry out ex-post verification of the quantity of services on a quarterly basis using the community client satisfaction survey (CCSS) according to the Project Implementation Manual (PIM); (iv) Analyze the differences between the ex-post quantity verification, the ex-ante quantity verification and the invoices submitted by the facility; (v)

Submit all analyzed data reports and raw data to the NPHCDA and SPHCDA, as well as uploading same to the PBF portal;

(vi) If any of the concerned LGAs are implementing a selective free care policy for maternal and child health services, the IVA will determine if additional user-charges have been levied on patients; (vii) Carry out quarterly ex-post assessment of the performance frameworks for each of the concerned LGA – PHC departments/HMB; (viii) Carry out such tasks as the NPHCDA reasonably requests to facilitate the successful implementation of PBF in the assigned LGAs

(iii) Deep understanding of the health sector in Nigeria and in-depth knowledge of the particular State; (iv) A resident office in the North Eastern States applied to; (v)

Evidence of Tax and VAT certificates

(vi) Proven understanding of PBF and its application in the Nigerian context; (vii) A reputation for integrity with at least 5 years of demonstrated experience working preferably in the North-East of Nigeria, or in other African contexts, with results-based financing (RBF) programs; (viii) A team of highly talented individuals with at least: (a) an overall manager who has a medical degree with; (b) a finance and administration officer; and (c) a field supervisor. (ix) Higher institutes of learning with required competences are encouraged to apply.

APPLICATION PROCEDURE 1) All interested institutions/ organisations should submit their expression of interest letter with relevant documents by email marked: “EXPRESSION OF INTEREST FOR PERFORMANCE- BASED FINANCING CONTRACT MANAGEMENT AND VERIFICATIN AGENCY (PBF-CMVA)” and address to: The Executive Director/CEO National Primary Health Care Development Agency Plot 681/682, Port-Harcourt Crescent, Off Gimbiya street, Area 11 Garki-Abuja Attention: National Project Coordinator NSHIP 2)

Institutions/organizations should indicate in their application letter which particular state they are applying to work in among the five AF NSHIP states.

3)

Prepare a folder and include all relevant documents as listed in ‘Selection criteria‘ above

4)

All emails sent to: Leks_Olu1@yahoo.co.uk, and copy: nnennaihebuzor@yahoo.com, aodutolu@worldbank.org, fmustapha@owrldbank.org, ajuluchukuchukelu@yahoo.com, alyzon2001@yahoo.com,

5)

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62

T H I S D AY •MONDAY JULY 18, 2016

MONDAYSPORTS NFF to Announce Paul Le Guen as New Eagles Coach Today

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com

Duro Ikhazuagbe Nigeria’s football authorities are set to announce Frenchman, Paul Le Guen as the new Manager of the Super Eagles today in Abuja.

Le Guen, 52, is expected to assume duty immediately after concluding talks on his contract which is speculated to be in the region of $45,000 per month. The contract is initially for three years with chances of being renewed based on performance.

The former Oman national team coach qualified the Indomitable Lions of Cameroun for the 2010 World Cup in South Africa. He is also coming to the Nigerian job with a rich background of also coaching Brest, Nantes, Lyon, Rennes and Paris Saint-Germain and Glasgow Rangers in Scotland at club level.

The other European coach shortlisted along with Le Guen and Salisu Yusuf for the job, Belgian Tom Sainfiet ruled himself out of the running for the Eagles top post after he assumed duty as coach of Bangladesh last week.

THISDAY learnt at the weekend that the Nigeria Football Federation (NFF) has secured a deal that will

take care of the salaries of the national coaches including that of Le Guen.

Although NFF chiefs are still keeping the name of the company out of the press for now, it is believed that the football federation will have no problem picking the bills of the French coach.

“NFF will not have problem with the payment of Le Guen’s salaries at all. It has secured a good deal that will take care of that and even those of other coaches in the other national teams,” revealed the credible source yesterday.

THISDAY also learnt that the new Super Eagles coach is going to be accommodated in choice part of Abuja to ensure that he is not distracted from the target of qualifying Nigeria for the 2018 FIFA World Cup in Russia.

Qualifying matches of the group stage are scheduled to begin in October with Nigeria paired along with Algeria, Cameroun and Zambia.

According to the source, the company to bankroll the salaries of the new coach is not the Nigerian National Petroleum Corporation (NNPC) earlier speculation to have entered a partnership with the NFF.

THE OPEN 2016

Stenson Beats Mickelson to Win at Royal Troon Henrik Stenson carded a joint record eight-under-par 63 yesterday to win The Open by three shots after an enthralling final-round tussle with Phil Mickelson.

The Swede, 40, birdied four of his final five holes to win his first major with an Open Championship record score of 20 under par at Royal Troon.

Mickelson, 46, had an eagle and four birdies in a 65, while fellow American JB Holmes (69) was third on six under.

They finished on the same mark as Spain’s Sergio Garcia (69), and one behind American Steve Stricker (69).

Like McIlroy, Jordan Spieth saved his best round of the week for Sunday, the American’s 68 lifting him to two over.

Crowd favourite Andrew ‘Beef’ Johnston got to seven under before the 27-year-old Londoner faded to a final-day 73 and eighth on three under.

Defending champion Zach Johnson (71) ended one under, alongside English duo Andy Sullivan and Matt Southgate, the Essex golfer who conquered testicular cancer.

England’s Masters champion Danny Willett closed with a level-par 71 for seven over.

Stenson becomes the first Scandinavian golfer to win a major with victory at Royal Troon

His 20-under total eclipsed Tiger Woods’ 19-under-par record total in winning The Open at St Andrews in 2000.

The Swede’s 63 also beats two-time Open champion Greg Norman’s 64 at Royal St George’s in 1993 as the lowest final round by a champion, while his aggregate score of 264 beat the Australian’s four-round total of 267, set the same year.

Stenson becomes the fourth man over 40 to win the Claret Jug in the last six years - following Northern Ireland’s Darren Clarke (Sandwich, 2011), Ernie Els (Lytham, 2012) and Mickelson (Muirfield, 2013).

“No, the new sponsor is not NNPC. Discussions of possible collaboration was ongoing as at the time newspapers speculated that NFF had secured NNPC deal to pay for a new manager

for Eagles,” stressed the top sports official at the weekend.

More than 20 coaches applied for the Super Eagles post from which the NFF Technical and Development Committee shortlisted the

final three.

Giovanni Solinas, Saintfiet, Hey Antoine, Mark Wotte, Yusuf, Ernesto Paulo Calvinho, Dorian Marin, Le Guen, Miodrag Jesic, Perry Hansen, Ove Pedersen, Adebayo Lateef

Kola, Sylvanus Okpala, Peter Ijeh, Vladimir Petrovic-Pizon, Lodewijk de Kruif, Kenichi Yatsuhashi, Bjorn Frank Peters and Ricki Herbert are among those who applied for the vacant position.

L-R: Head of Administration, Nigerian Communications Commission (NCC), Mr. Kehinde Oladipo; Director, International Tennis Academy, Mr. Godwin Kienka; Minister of Youth and Sports, Solomon Dalung; and Director, Special Duties, NCC, Mrs. Iyabode Sholanke, during the launch of the 2016 edition of the NCC Tennis League Cup… recently

NPFL: Rangers in Firm Control as Wikki Drops Points Wikki Tourists yesterday failed to regain leadership of the Nigeria Professional Football League (NPFL) after they forced hosts Niger Tornadoes to a 1-1 draw in Lokoja.

Wikki is now second on the table having recorded 44 points from 26 matches, two points behind new leaders Enugu Rangers.

Rivers United stayed in third place also on 44 points, but with an inferior goals difference to Wikki. Enyimba is now fourth on the table with 40 points, six points adrift of new league leaders Enugu Rangers. Pillars are fifth on the standings with

39 points.

Tornadoes opened scoring against Wikki through Kunle Issa after 21 minutes.

Charles Henlong equalised for Wikki in the 64th minute from close range.

Rivers United were truly at home in Port Harcourt when they defeated Shooting Stars 2-0 only days after they eliminated the Ibadan club from the Federation Cup in penalty shootout.

Rivers goals were by Ivorian striker Guy Kuemian and Frederick Obomate with Rivers State Governor Nyesom Wike watching in the stands.

Also yesterday in Port

Harcourt, Enyimba recorded the double over rivals Kano Pillars after they won 2-1.

The NPFL champions had similarly defeated Pillars 2-1 in Kano in the first round of the championship.

Ifeanyi Anaemena fired Enyimba ahead in the 10th minute, but veteran striker Adamu Mohammed drew level a minute.

Uche John scored the match winner in the 73rd minute from the penalty spot after Stephen Chukwude was brought down inside the box on his way to goal.

This was minutes after Enyimba were denied a penalty after Joseph

Osadiaye was also felled inside the box.

In the 90th minute, Pillars goalkeeper David Obiozor pulled off a big save to deny Chukwude from point-blank range.

RESULTS Rivers Utd 2-0 3SC Tornadoes 1-1 Wikki Enyimba 2-1 Kano Pillars Lobi 1-0 Plateau Utd IfeanyiUbah 1-0 Elkanemi Abia Warrior 1-0 Wolves MFM FC 2-0 Heartland Nasarawa 3-0 Sunshine Akwa Utd 2-3 Rangers

N17m Prize Money at Stake in 2016 NCC Tennis League

The Nigerian Communications Commission (NCC) has announced a total prize money of N17 million with a star prize of N7 million for the team that wins the 2016 Team Tennis Championship.

Unveiling details of this year’s event at the Ikoyi club at the weekend with the Minister of Youth and Sports, Solomon Dalung in attendance, the Executive Vice President of the NCC, Prof . Umar Danbatta, said the Commission was happy with Henrik Stenson celebrating the profile, organisation and impact of the event which his victory yesterday

has achieved all the objectives it was designed to achieve.

“The Tennis League is introducing 45 weeks of tennis to the Nigerian tennis calendar up from 32 last year and is taking topflight tennis to more cities across the country.

“The number of teams has also risen from eight to 10 this year.” Danbatta, who was represented by the Director of Special Duties, Mrs Iyabo Sholanke, said.

Dalung who took a tour of the Ikoyi Club before the opening ceremony,

commended the club for the outstanding facility and their maintenance level and implored the club to play a bigger role in the development of sports in the country.

The Minister extoled the NCC for sponsoring such a major historic tennis event which has the potential of producing top professional tennis players in the near future.

“What I have seen here today has convinced me that the private sector has to lead the sports development process in Nigeria,” stressed

Dalung.

The Minister later participated in the ballot for the placement of the teams into the Blue and White round robin groups.

The Blue Group comprises Team Tombim - Abuja, Team Offikwu - Kaduna, Team Lead Way - Lagos, Team Anambra - Onitsha and Team Goshen - Ilorin while the White Group is made up of Civil Defence - Kaduna, Team FCT - Abuja, Team Kalotari - Port Harcourt, Team Hope - Asaba/Warri and Team CBN Futures - Lagos.

T H I S D AY MONDAY JULY 18, 2016

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Monday July 18, 2016

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Price: N250

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MISSILE Senate to APC

“We expected the party to at least explore all the options open to it to verify that piece of fabrication which was only the figment of the imagination of the writers and their sponsors. It should be clear to the APC leadership that if there is any truth to that story, it should have been credited to a particular senator who was at the executive session” –The Senate accusing the All Progressives Congress (APC) of not cross-checking what actually transpired at its executive session before reacting to the purported plan to impeach President Muhammadu Buhari.

ALEXOTTI OUTSIDE THE BOX

alex.otti@thisdaylive.com

I Don’t Do Politics Part 1 “One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors” Plato (428BC to 347BC).

T

hose were the wise words of Plato donkey years ago. If those words were true in those days, they are even truer today. Today’s title is derived from a conversation between two bankers.

A management staff of a bank was trying to get the attention of his director to join him in prospecting a big government business for their bank. The director retorted: “I don’t do politics and would not visit the politically exposed person”.

The younger banker was very disappointed wondering if his boss appreciated the enormity of government and that it is the largest spender in the economy. His contention is that anyone who ignores government, does so at his own peril. But what could the poor guy do if his boss had declared that he doesn’t do politics?

Even in the era of Treasury Single Account (TSA), the money must still leave the central bank to pay vendors, contractors, suppliers and salaries and eventually end up in a commercial bank.

You may not like government but somehow, someday, somewhere, if not everywhere, you must encounter government.

There is a story told by one of the very wealthy politicians in the South-east about how he joined politics. The chief had travelled to the US where he met with a business associate and major politician in that country. His host wanted to know his take on the political situation in Nigeria. Our chief was at the verge of dismissing the topic with the response, “I don’t get involved in politics, I am focused on my business” when his host laughed him to scorn. “You don’t do politics?

Then politics will do you” Just one policy made by a politician may send you out of business.

Our chief reflected on this encounter and could not wait to return to Nigeria, to join politics.

Don’t ask me how his business is doing, but I can confirm, he has remained an influential politician.

A few weeks ago, I was a speaker at a panel of the Nigerian Bar Association (NBA) Section on Business Law, 10th Annual Conference at the Hilton Hotel, Abuja. The Minister of Finance, Mrs. Kemi Adeosun, who was on the same panel with me, made a very brilliant presentation on the state of the economy. She concluded her remarks by calling on all the lawyers in the room to endeavour to join politics at any level to ensure that the current system is rescued. She lamented the quality of skills in the public sector in Nigeria and argued just like Plato that the refusal by those who know, to join politics is responsible for the poor quality of governance across the country. It was as if the minister read my mind as that was the same message I had planned to pass on to our “learned gentlemen” in the room. It is the message I have also been giving at several fora where I have an opportunity to speak.

I must make an attempt to share part of my little experience in politics with readers. I had had a very prolific and successful career in the banking industry spanning over two decades and a half, rising from clerical positions to my final job as group managing director and chief executive officer. I had just started on my second tenure when I voluntarily resigned my position to contest for the governorship of my state in the last general election. It was as if all hell was let loose. I received calls and visits from friends, family and other concerned people, trying hard to dissuade me from making what some termed a suicidal move. I will share two very interesting

encounters. An uncle of mine (and you know how a close older person who may or may not be related to you is called uncle) called me and went into a tirade. What are you planning to do? Are you out of your mind? Do we need to send you to a psychiatrist to have your head examined? By the way, who gave you approval to resign your job to gamble with your future and that of your many dependants? Responding, I simply asked him if I sought his approval before taking on the job in the first place. That question helped remind him that he was delving into a territory that he was not competent to handle. He quickly retreated and apologised. The next was a delegation of concerned friends who came to plead with me not to leave banking. They argued I was still young and had several more years to give to the industry, given the resounding success of the transformation I led in the bank within a period of less than four years. Besides, they reasoned that it was a very risky environment that I was going into, where they maim, kidnap and kill people and it did not make sense to leave my comfort zone for uncertainty. Finally, they went on, I was not a politician and would not be able to play the game that is required to ensure success. As I responded, it was clear to me that none of them was listening as they seemed to have made up their minds, so I adjourned the meeting. But before they dispersed, I left them with the words of Charles De Gaulle to wit “Politics is too serious a matter to be left with politicians”. The rest of my experience thereafter, is a story for another day.

When I see some people struggle to separate themselves from non-politicians and make a lot of fuss about being politicians, I always try to find out what their professions are. Most of them to all intents and purposes, do not have a job and that explains why they can do anything to remain relevant or win elections. It also explains why some of them do not consider that in any career, there is progression. We have situations where a former National Assembly member would accept an appointment as a commissioner in a debt ridden state. There is a story of someone who was a governor in one administration accepting a job as a local government acting chairman in another. We also have a situation where a former minister would become a local government councilor. To them, it is about survival.

You may now want to ask what these politicians were doing prior to the return of democratic rule in 1999. This question also takes us to how we ended up with the style of politics and the kind of politicians we have been “blessed” with since 1999. When Sani Abacha died in 1998 after the unending transition programme of the Ibrahim Babangida years, General Abdulsalmi Abubakar promised to hand over to a democratically elected government in 1999. Many serious politicians did not want to participate. The reasons included the fact that most of them were tired of the circus of endless transition to civil rule. The other reason was that a lot of the politicians did not believe that Abdulsalami was going to hand over after one year. But alas, he kept to his word and handed over. In a lot of places, the people that emerged could not be said to belong to what I may for want of a better term refer to as the “first eleven”. Having emerged, these fellows used the first four years to, not only empower themselves and their cronies, but also consolidate their hold on power to the exclusion of others.

Securing a second term for most of them was almost automatic. After eight years, they used both the resources they had amassed and the coercive forces they had built to determine who

would succeed them in the case of the executive, while taking shots at the National Assembly.

Opposition was silenced either by brute force or by economic emasculation. For instance, some people had their properties either destroyed or seized while others had their businesses taken over by government or outright castrated. By the time they were through with picking up the pieces, elections would have come and gone. So we had a situation where incompetent mediocre politicians entrenched themselves as politicians and leaders at different levels of governance. In not a few states, the only people that seem to be doing well are scarcely educated charlatans and thugs who parade themselves as “honourables”.

It has become so bad that some of our young ones will drop out of schools to swell the ranks of “honourables” since it had become the fastest route to wealth. The unfortunate thing about situations like this is that they become self-reinforcing vicious circles. Because poor quality people are in power, they give poor quality service or no service at all which translates to poor quality results which in turn produces poor quality resources that can only produce poor quality manpower which in turn gives rise to poor quality “leadership” who will succeed the outgoing poor quality people in power.

So how can this vicious circle be broken? Can we really get out of it? To proffer solutions to this, it is important to understand that just like Isaac Newton propounded in his first law of motion, “every object remains in its state of rest

or uniform motion unless impressed forces act on it”. There is no doubt that we need impressed forces to break the mediocre leadership that has seized our body politic. When you drill into the quality of the people representing us, you will agree with me that many of them have no business with the places that they had invaded. Some members of our national and state legislators are like sitting docks, making no statements day in day out. Some simply warm the benches while others have converted the assembly into their bedrooms, snoring from one session to the other.

The executive arm is not left out as some have no clue about why they have taken leadership positions while others simply lack vision and direction. Some don’t even understand the jobs they have signed on to and are simply unprepared for governance. Meanwhile, we all agree that many of the people leading or representing us are not fit for the roles that they have assumed, but we seem to be handicapped. Still, it is said that every society gets the type of leadership it deserves. It therefore behoves those who know, who hitherto had refused to participate in politics to show interest in how they are governed. This is exactly what took me into politics. This is what should take you into politics. Elsewhere, politics is not where people go to look for money. It is a place where accomplished people go to contribute their wealth of experience and knowledge for the benefit of the larger majority. If that is not why you are in politics, then I’m afraid, you’ve boarded the wrong bus.

WHAT ARE WE TEACHING OUR CHILDREN?......06 WHAT KIND OF FATHER ARE YOU? IT’S ALL OVER TOWN THAT YOU ALLOWED YOUR SON’S NAME TO TOP THE LIST OF STUDENTS RECOMMENDED FOR EXPULSION, EVEN THOUGH THE DISCIPLINARY COMMITTEE WANTED HIM ONLY CAUTIONED!

YES, AS THE PRINCIPAL, I HAD TO DO THAT OPENLY TO SEND A STRONG MESSAGE TO STUDENTS AND TEACHERS THAT I DON’T CONDONE FAVOURITISM OR NEPOTISM!

SO,WHAT MESSAGE DID YOUR FRIEND, RELAX! …I WAS JUST GOING THE MINISTER OF EDUCATION SEND TO TELL YOU I ALSO SECRETLY TO THE NATION WHEN HE REMOVED INSTRUCTED THE DISCIPLINARY YOUR NAME FROM THE LIST OF COMMITTEE TO REMOVE YOUR PRINCIPALS RECOMMENDED FOR SON’S NAME FROM THE LIST REMOVAL FOR MISUSE OF FUNDS BEFORE THEY PRESENT IT TO FIVE YEARS AGO? THE BOARD OF GOVERNORS FOR APPROVAL!

NOW, YOU’RE TALKING!

THAT’S MY DAD! THANKS, DAD!

DON’T THANK ME! I DID IT BECAUSE IT OCCURRED TO ME I COULD GET AWAY WITH IT! ..AND BECAUSE OUR PEOPLE’S BARK IS WORSE THAN THEIR BITE!

18-07-16

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