Wednesday 31st August 2016

Pension Assets Hit N5.8tn as Pencom Seeks to Invest 40% in Infrastructure James Emejo in Abuja

The Director General of the National Pension Commission (PenCom), Ms. Chinelo AnohuAmazu, yesterday hinted that the total pension assets had hit N5.8 trillion, adding that the commission was targeting

to invest 40 per cent of the funds in infrastructure and housing by 2019.

She was, however, quick to add that the safety of such investments would not be compromised, as they would require guarantees from government and stakeholders.

She said currently, 15 per cent of the assets are invested in infrastructure bonds, five per cent in infrastructure funds, 35 per cent in corporate bonds, and 20 per cent in mutual funds.

Speaking in Abuja on “Using Pension Funds for

Infrastructure Development to Enhance Inclusive Growth” at an interactive forum organised by the Financial Correspondents Association of Nigeria (FICAN), she also disclosed that a multi-funds investment structure was being put in place to allow

people some flexibility in investment choice, taking into consideration age, among others.

However, the PenCom boss further revealed that having recovered about N10 billion from employers who had failed to remit pension deductions,

the commission had engaged the Economic and Financial Crimes Commission (EFCC) to prosecute employers who criminally deduct pensions without remitting same to Pension Funds Administrators Continued on page 8

Naira Sinks to N418/$, But Demand for Nigerian Crude Remains Strong...

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Nigeria Can Break up, It’s Not Indivisible, Says Ango Abdullahi Declares N’Delta Avengers worse than Boko Haram

Paul Obi, Peter Omale and Marvellous Okeke in Abuja A member of the Northern Elders Forum (NEF) and former presidential aide, Prof.

Ango Abdullahi, yesterday took on those calling for the restructuring of the country, suggesting that if the amalgamation of the country

by Lord Frederick Lugard in 1914 was a mistake, it would

be best for each region to go their separate ways.

Abdullahi made this known during the launch of two books by Dr. Hadiza Isa Wada titled, “Boko Haram: The Charade vs. Reality” and “The Life and Times of Umaru Turakin Bauchi”.

He queried agitators clamouring for the Continued on page 10

Chagoury Denies Using Donations to Clinton Foundation for State Dept Favours

Joseph Ushigiale with agency report

Lebanese-Nigerian billionaire, Mr. Gilbert Chagoury, has denied United States media reports alleging that he capitalised on his donations to the Clinton Foundation to seek favours from the US Department of State, when Democratic Party presidential nominee Hillary Clinton was

Secretary of State.

Following donations of between $1 million and $5 million to the Clinton Foundation, an aide of former President Bill Clinton, Doug Band, was reported to have pushed for access for Chagoury after Hillary Clinton took over at the State Department.

In 2009, Band wrote his Continued on page 8

Urhobo Militia Dares Military, Blow up Pipeline in Delta... Page 46

CREATING JOB OPPORTUNITIES

R-L: Vice President Yemi Osinbajo, in a handshake with the Minister of Information and Culture, Alhaji Lai Mohammed, while the Minister of Youth and Sports, Mr. Solomon Dalung, and his counterpart in the Labour and Employment Ministry, Senator Chris Ngige, look on before the kick off of the Google 400,000 jobs training programme, held at the State House, Abuja… yesterday

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PAGE EIGHT CHAGOURY DENIES USING DONATIONS TO CLINTON FOUNDATION FOR STATE DEPT FAVOURS friends in the department.

“We need Gilbert Chagoury to speak to the substance guy in Lebanon. As you know he's key guy there and to us and is loved in Lebanon. Very imp.”

Huma Abedin, a longtime aide and confidante to Clinton and now vice-chairwoman of her presidential campaign, had suggested to former U.S. Ambassador to Lebanon, Jeffrey D. Feltman.

However, the Los Angeles Times newspaper quoted both Feltman and Chagoury’s friend and spokesman Mark Corallo on Monday as saying that no meeting ever happened.

Chagoury wanted only to pass along insights on Lebanese politics, Corallo said, adding that “nothing ever came off it” and that Chagoury never talked to anyone at the State Department. Band declined to comment, reported the L.A. Times.

When Band’s email was made public this month, Republican Party presidential candidate and real estate billionaire Donald Trump had pounced on it, calling the Chagoury episode “illegal” and a “pay-to-play” scheme.

In the report, the L.A. Times described Chagoury as one of Africa’s richest men, who has built a reputation as a giant of global philanthropy.

According to the newspaper, his name is on a gallery at the Louvre in Paris and a medical school in Lebanon, and he has received awards for his generosity to the Catholic Church and St. Jude’s Children’s Hospital.

He owns a seven-bedroom hilltop mansion in Beverly Hills, and he has a high-level network of friends from Washington to Lebanon to the Vatican, where he serves as an ambassador for the tiny island nation of St. Lucia. His website shows him shaking hands and laughing with Pope Francis.

“I never imagined what the future would hold for me,” Chagoury once said of his boyhood in Nigeria. “But I knew there was a vision for my life that was greater than I could imagine... I consider it a duty to give back.”

Since the 1990s, Chagoury has also cultivated a friendship with the Clinton family — in part by writing large checks, including a contribution of at least $1 million to the Clinton Foundation.

By the time Hillary Clinton became Secretary of State, the relationship was strong enough for Bill Clinton’s closest aide to push for Chagoury to get access to top diplomats, and the agency began exploring a deal, still under consideration, to build a consulate on Chagoury family land in Lagos, Nigeria.

But even as those talks were underway, bureaucrats in other arms of the State

Department were examining accusations that Chagoury had unsavoury affiliations, stemming from his activities and friendships in Lebanon.

After a review, Chagoury was refused a visa to enter the U.S. last year.

Chagoury is a prominent example of the nexus between Hillary Clinton’s State Department and the family’s Clinton Foundation, which has come under renewed scrutiny during her presidential run. The organisation, founded as a way for the Clintons to tap their vast network for charitable works, has tackled some of the steepest challenges in the developing world, including rebuilding Haiti and fighting AIDS in Africa.

It has also come under fire for its willingness to accept money from foreign governments with interest in swaying U.S. policy during Clinton’s time as secretary of state, and the controversial histories of some donors.

Abacha’s Inner Circle Chagoury was born in 1946 in Lagos to Lebanese parents, and as a child attended school in Lebanon. He sold shoes and cars in Nigeria, according to a biography on his website, before marrying the daughter of a prominent Nigerian businessman.

During the rule of General Sani Abacha, who seized power in Nigeria in 1993, Chagoury prospered, receiving development deals and oil franchises.

In the 1990s, Chagoury portrayed himself as an Abacha insider as he tried to influence American policy to be more friendly to the regime. Soon after, President Clinton named Donald E. McHenry a special envoy to Nigeria in 1995. Gilbert and brother Ronald Chagoury visited McHenry in his office at Georgetown University in Washington.

The U.S. was pushing for the return of democratic rule in Nigeria; Abacha, meanwhile, was eager to have his country taken off a U.S. list of nations that enabled drug trafficking, McHenry said.

“Their effort was to try and influence anyone who they thought could influence the U.S. government,” McHenry said, adding that the approach was heavyhanded. “They tried every key on the piano.”

Abacha turned out to be “one of the most notorious kleptocrats in memory,” stealing billions in public funds, acting Assistant Atty. Gen. Mythili Raman later said.

After Abacha’s death in 1998, the Nigerian government hired lawyers to track down the money.

The trail led to bank accounts all over the world — some under Gilbert Chagoury's

control. Chagoury, who denied knowing the funds were stolen, paid a fine of 1 million Swiss francs, then about $600,000, and gave back $65 million to Nigeria; a Swiss conviction was expunged, a spokesman for Chagoury said.

Ties to the Clintons In the years afterwards, Chagoury’s wealth grew.

His family conglomerate now controls a host of businesses, including construction companies, flour mills, manufacturing plants and real estate.

He has used some of that money to build political connections. As a non-citizen, he is barred from giving to U.S. political campaigns, but in 1996, he gave $460,000 to a voter registration group steered by Bill Clinton’s allies and was rewarded with an invitation to a White House dinner. Over the years, Chagoury attended Clinton's 60th birthday fundraiser and helped arrange a visit to St. Lucia, where the former president was paid $100,000 for a speech. Clinton’s aide, Band, even invited Chagoury to his wedding.

Chagoury also contributed $1 million to $5 million to the Clinton Foundation, according to its list of donors.

At a 2009 Clinton Global Initiative conference, where business and charity leaders pledge to complete projects, the Chagoury Group’s Eko Atlantic development — nine square kilometres of Lagos coastal land reclaimed by a seawall — was singled out for praise.

During a 2013 dedication ceremony in Lagos, just after Hillary Clinton left her post as secretary of state, Bill Clinton lauded the $1-billion Eko Atlantic as an example to the world of how to fight climate change.

“I especially thank my friends Gilbert and Ron Chagoury for making it happen,” he said.

By last summer, U.S. diplomats had selected a 9.9-acre property at Eko Atlantic as the preferred site for a new Lagos consulate, State Department documents obtained by the Los Angeles Times show. Two months ago, James Entwistle, then the U.S. ambassador to Nigeria, wrote to Washington, asking permission to sign a 99-year lease.

No deal has been signed, State Department spokeswoman Elizabeth Trudeau said. She did not answer questions about whether the Clintons recommended Eko Atlantic.

She said at a recent briefing that she was unaware of whether Hillary Clinton knew the site was under consideration; it was on a list of possibilities submitted by a real estate firm in 2012, Trudeau said in response to questions from The L.A.

Times.

A spokesman for Clinton’s campaign noted that the State Department has said the process has been managed by “career real estate professionals.”

Chagoury declined requests for an interview. Corallo said Chagoury was a generous and “peace-loving” man unfairly scrutinised because of his association with the Clintons.

He said Chagoury last saw Hillary Clinton at a 2006 dinner. The Clinton Foundation and a spokesman for Bill Clinton did not respond to requests for comment.

Chagoury also has given to Republicans: He and his brother, along with Eko Atlantic, are listed as sponsors for a 2014 art exhibit at the George W. Bush Presidential Center.

Suspicions Emerge in the U.S. In spite of his network of powerful friends, Chagoury has aroused the suspicions of U.S. security officials. In 2010, he was pulled off a private jet in Teterboro, N.J., and questioned for four hours because he was on the Department of Homeland Security’s no-fly list. He was subsequently removed from the list and categorised as a “selectee,” meaning he can fly but receives extra scrutiny, Homeland Security documents show.

The agency later wrote to Chagoury to apologise “for any inconvenience or unpleasantness.”

That letter did not explain why Chagoury was on the no-fly list, but another Homeland Security document shows agents citing unspecified suspicions of links to terrorism, which can include financing extremist organisations; Chagoury later told reporters that agents asked him what bank he used in Nigeria.

Chagoury believes it was unfair for government officials to disclose the episode and to “suggest that he was a potential threat,” Corallo said. He said that Chagoury’s lawyers resolved the issue and that he never asked anyone else for help.

Chagoury told ABC News and the Center for Public Integrity at the time that he was miffed because his travel problems made him miss seeing the Lakers in the playoffs. “I just love the Lakers,” he said.

His visa troubles stem at least in part from his involvement in the tangled politics of Lebanon.

Chagoury has contributed to charitable projects there, advocated on behalf of the country’s Christians and formed political alliances, including with Michel Aoun, a Lebanese Christian politician who served as

army commander and prime minister during the country’s civil war.

For a decade, Aoun’s party has been part of a political coalition with Hezbollah, the Shiite Muslim group backed by Iran that has seats in Lebanon’s parliament.

Hezbollah is classified as a terrorist organisation by the U.S., which holds the group responsible for the 1983 bombing of the U.S. embassy in Beirut and a Marine barracks blast that year that killed 241 American servicemen. Drug Enforcement Administration investigations have also found that Hezbollah is in league with Latin American cartels to launder hundreds of millions of dollars in drug profits.

Chagoury was “known to have funded” Aoun, a Lebanese government minister told thenAmbassador Feltman in 2007, according to a cable published by WikiLeaks that didn’t go in detail about Chagoury’s relationship with Aoun. The minister suggested that the U.S. “deliver to Chagoury a strong message about the possibility of financial sanctions and travel bans against those who undermine Lebanon’s legitimate institutions”.

Chagoury never got a scolding, though. Instead, Band, Bill Clinton’s aide, pushed for new access for Chagoury after Hillary Clinton took over at the State Department. In 2009, Band wrote his friends in the department. “We need Gilbert Chagoury to speak to the substance guy in Lebanon. As you know he's key guy there and to us and is loved in Lebanon. Very imp.” Huma Abedin, a longtime aide and confidante to Clinton and now vice-chairwoman of her presidential campaign, suggested Feltman.

When Band’s email was made public this month, Donald Trump pounced, calling the Chagoury episode “illegal” and a “pay-to-play” scheme.

But no meeting ever happened, according to both Feltman and Chagoury’s spokesman.

Chagoury wanted only to pass along insights on Lebanese politics, Corallo said, adding that “nothing ever came off it” and that Chagoury never talked to anyone at the State Department. Band declined to comment for this story.

A Clinton campaign spokesman said Judicial Watch, the conservative organisation that sued to make the emails public, “has been attacking the Clintons since the 1990s.”

“No matter how this group tries to mischaracterise these documents, the fact remains that Hillary Clinton never took action as secretary of state because of donations to the Clinton Foundation,"

PENSION ASSETS HIT N5.8TN AS PENCOM SEEKS TO INVEST 40% IN INFRASTRUCTURE (PFAs).

Represented at the forum by the Head, Investment and Supervision Unit, PenCom, Mr. Ehimeme Ohioma, the director general said the prosecution of such employers should begin soon with a “name and shame” strategy.

Nevertheless, she said the

unavailability of investment projects remained a major challenge to the investment of pension assets in the country.

She identified other constraints to include political risk, policy somersaults, and lack of continuity, adding that less than three per cent of assets

are currently invested in infrastructure through state government bonds.

She said government and other stakeholders had not really taken advantage of pension assets to develop infrastructure in the country.

Anohu-Amazu said as part of efforts to deepen pensions, a micro-pension scheme was

being finalised to provide opportunities and products targeted at over 50 million people in the informal sector of the economy.

She said the proposed infrastructure projects should, however, be commercially viable and self-financing or able to generate cash flows to repay overtime while bid/

concession processes must be open and transparent.

She added that political risks must be guaranteed for projects by the federal government or the IFC/ World Bank and African Development Bank (AfDB) to effectively tap into pension funds for infrastructure development.

spokesman Josh Schwerin said.

This month, the foundation announced that it would stop accepting donations from foreigners and corporations should Clinton win the presidency.

U.S. Visa Denial After Clinton left the State Department, Chagoury again found himself under suspicion by U.S. security officials. A 2013 FBI intelligence report, citing unverified raw information from a source, claimed Chagoury had sent funds to Aoun, who transferred money to Hezbollah. The source said Aoun was “facilitating fundraising for Hezbollah”. The U.S. put Chagoury in its database used to screen travellers for possible links to terrorism, interagency memos show.

The ties between Chagoury and Aoun ended years ago in a dispute over oil franchises, said Michel de Chadarev, an official with Aoun’s party. Chagoury now backs an Aoun rival for the presidency. De Chadarev said Aoun “categorically denied” any arrangement where he shared money with Hezbollah or passed funds from Chagoury: “No, no, no. Of course not. It is not in his principles to act as transporter to anyone.”

Last summer, when Chagoury planned a trip to Los Angeles, he applied at the U.S. embassy in Paris for a visitor’s visa and was refused, according to interviews and government documents. Based on the FBI report and other allegations from intelligence and law enforcement sources, the State Department denied the application. It cited terrorism-related grounds, a broad category that can apply to anyone believed to have assisted a terrorist group in any way, including providing money.

Chagoury has denied ties to Hezbollah. Two years ago, he helped pay for a conference in Washington on the persecution of Christians in the Middle East; some attendees supported Hezbollah, but the director of the group that organised the conference said that didn't mean Chagoury or other conference organisers were among them. “Hezbollah is part of the political reality of the country,” Andrew Doran Continued on page 10

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From Dog Owners to Journalists, Free Expression Faces Challenge in Nigeria A series of arrests of bloggers, newspaper reporters and even a dog owner has advocates worried about a chill on freedom of expression in Nigeria.

While the constitution of Africa’s most-populous country guarantees freedom of speech and the press, Peter Nkanga, West Africa representative for the Committee to Protect Journalists, said those rights are under attack.

“More and more, that freedom is being eroded,” Nkanga said. “How is it being eroded? By the actions of government institutions and government authorities, who are ensuring that, that freedom of expression, that freedom of the press that freedom to hold opinion, gradually, steadily, is being eroded.”

Nkanga pointed to a number of episodes in recent months as instances where Nigerian security forces went after people simply because of something they said or wrote.

This month, the army said it wanted to question a journalist who had posted a link to a video released by

the Boko Haram extremist group.

A journalist investigating arms smuggling was assaulted in June 2015 after a meeting at a Nigerian border post. Nkanga said customs officers looked on as the journalist was attacked without intervening.

Musa Azare, a blogger known for being critical about the government of Bauchi State, also found himself under arrest this month.

“They were dispatched from Bauchi to come and arrest me,” Azare said of the police officers who travelled 450 kilometers to his house in the capital, Abuja.

He was driven to Bauchi and told that he was being taken in on suspicion of cyber stalking and criminal defamation, before being released. A Bauchi State official denied the government had anything to do with Azare’s detention.

It’s not just journalists that are facing threats. Police took a man in Ogun State this month into custody for naming his dog “Buhari”, after the president.

Nigeria’s leaders have pledged to respect the

freedom of the press, with Minister of Information and Culture Lai Mohammed saying in June that the government of President Muhammadu Buhari does “not intend to do anything to stifle press freedom”.

Mohammed was not available for comment.

Laws on the books have allowed local politicians to go after journalists and bloggers for their statements, says Mai Truong, manager of advocacy group Freedom House’s Freedom on the Net programme.

She said a law passed last year criminalising “cyber crimes” such as hacking and cyber stalking has become a tool for politicians seeking revenge against online commentators.

“We’ve seen (kind of) an uptick of bloggers, particularly, being targeted for arrest and charged under the cyber crime law for various types of writing related to posts about local governors or officials,” Truong said.

Buhari came into office last year pledging to tackle corruption in Nigeria.

The country is Africa’s largest economy but little

of the wealth trickles down to its poor due in part to graft in the federal and state governments.

Shuaib Leman, national secretary of the Nigerian Union of Journalists (NUJ), says much of the ire directed at journalists come from politicians who don’t appreciate seeing allegations of corruption against them printed or broadcast.

“I am not surprised that daily you find one instance or the other where a journalist is either picked up at the insistence of the state governor or a powerful politician for writing against corruption or for bringing up issues that need public attention and adequate scrutiny,” Leman said.

When a journalist is attacked, Nkanga said the perpetrators of the assault rarely face charges.

“Until you start to ensure that those who perpetrate attacks on journalists are brought to justice, there will hardly ever be a time when there will be (no) chill on them,” Nkanga said. “It has become the norm.”

•Culled from VOA

Mohammed

CHAGOURY DENIES USING DONATIONS TO CLINTON FOUNDATION FOR STATE DEPT FAVOURS told the National Review.

Corallo did not answer questions about the visa denial, but said Chagoury “has been a friend and supporter of America all his life” and that

“any allegation that Mr. Chagoury is involved in any way with providing material support to any terrorist organisation, of any stripe, is false, outrageous and defamatory.” He said

Chagoury has no business interests in Lebanon.

The visa decision process is opaque and provides little recourse for those who are denied entry. Typically, the person is told of the grounds

for refusal, but not the details. The Secretary of State can grant a waiver, but that is often difficult when the evidence used to block entry is terrorism-related.

For the last three decades,

Corallo said, Chagoury spent at least a few months each year in Beverly Hills, where he owns an 18,000-squarefoot estate, once the home of actor Danny Thomas, with commanding views of West

Los Angeles and the ocean.

A year ago, after his visa application was denied, Chagoury’s mansion was put on the market, with an asking price of $135 million.

It’s still for sale.

same problem with Ireland.

“The Soviet Union was a super power many years ago, today 12 or 13 countries were created from it.

“So what is so special about Nigeria? If we find truly that we cannot develop and guarantee the welfare of our people as a nation and the solution is to go our separate ways, why not?

“So you see this is the thing we have to always discuss at all times honestly, especially if we put into context the history of Boko Haram,” he noted.

On the terrorist sect, he said the “ragtag boys” who were fed up with the things happening to them became members of Boko Haram.

“You ask the question where did Boko Haram got their sophistication and articulation from? No doubt from external connections, but external connections can only thrive if they have internal connections in the country itself.

“But then came robberies and Boko Haram was blamed, then came in political interference.

“Bombs were also put in churches and mosques and they were not entirely put

by Muslims but by both religions. But the real offence was people who knew and should have spoken out did

not do so.

“Some of us including my teacher and I went to see (Goodluck) Jonathan to discuss it. Some days later, and we heard there was going to be some dialogue, but then two weeks later a state of emergency was declared and Boko Haram was banned.

“So the question is who are you dialoguing with if you have banned Boko Haram? These are some of the contradictions we saw, which were clearly political.

“We the northerners were taking the brunt of it. And those who ought to have said something stayed quiet. It was Murtala Nyako who came out and said something was going on and before you know it he was on exile,” he stated.

While condemning the Niger Delta Avengers as economic terrorists, Abdullahi asked the federal government to deal decisively with the militia group, in order to end vandalism in the oil region.

Describing the group as “economic terrorists”, Abudallahi said: “In the Niger Delta, for example, people who come out openly and say they are avenging something and that they are fighting to avenge something, they’re worse than Boko Haram.

“So if you (federal government) are not going to fight the Niger Delta Avengers then stop fighting Boko Haram.”

Also speaking at the event, elder statesman and the Danmasanin Kano, Alhaji Maitama Sule, commended the author of the book, Dr. Wada, for her painstaking research on the Boko Haram insurgency.

Sule said such work laid out the facts and would educate readers in various ways.

The reviewers of the book, Dr. Sadiq Abba of the University of Abuja and Dr. Abubakar Muhammad of Ahmadu Bello University, Zaria, pointed out that the thorough research evidenced in the book on the Islamist sect provided in-depth literature on the study of the Boko Haram insurgency.

In her remarks, the author said there was need for the federal government to do more research on Boko Haram, noting: “Our intelligence needs to concentrate on our neighbouring countries, because that is where our support should be coming from.

“Boko Haram is coming from different angles – it has the political angle, religious angle and criminal angle.”

NIGERIA CAN BREAK UP, IT’S NOT INDIVISIBLE, SAYS ANGO ABDULLAHI restructuring of the country from the present quasifederalism to true fiscal federalism, or even secession, particularly in the South-south and South-east geopolitical zones.

According to him, such threats remained baseless, given that no region is afraid of secession.

Tracing how several other countries had separated peacefully, Abdullahi argued that contrary to the opinion of some government officials, Nigeria’s unity was negotiable.

“The batures (Hausa for white people) have brought us together. They tried what they could before they left in 1960 to see whether this country could become a political unit that is stable, because without political stability it is impossible to stabilise any aspect of our socio-economic development.

“They succeeded up to a point, but they were very lucky because they had our forefathers and founding fathers who were honest.

“We might not be one, in terms of language or in terms of geographical location or in terms of customs or in terms of history or in terms of religion and so on, but as a people put in one country our first job is to understand one another.

“Let’s understand one another.

Understanding one another will be the basis for working together.

This wish of being one is Utopian because if you look at examples of other parts of the world there’s a lot to learn from.

“Take for example India that got independence in 1948, yet one or two years later Pakistan was created, and in another one or two years, Bangladesh emerged out of Pakistan, because there was insufficient basis on which India would stay together in the first place,” he said.

Abdullahi held the view that Nigeria’s greatest challenge today is political instability “created unfortunately by politicians and the Nigerian elite”.

“We are responsible for the conditions we’re experiencing today and that we have experienced over the years.

This is the basis on which we have made slow or no progress in our development and I think we can accept this as a fact, or continue to pretend and go round and round and round in circles and at the end of the day come back to the same spot.

“What are we hearing?

We’re hearing about the restructuring of Nigeria.

We’re hearing about

secession, we’re hearing all sorts of things and who are the promoters of this rhetoric?

“This is coming from the elite of the country. They’re right to speak their minds, but they should also leave me to speak my mind when the time is right because we cannot continue, because I remember in the last four or five years, particularly when we were headed towards the last elections. We saw all that and then I said it was time.

“If Lugard made a mistake in 1914 let’s correct it now.

Why not? If Nigerians cannot live together and allow peace and development to reign, then let’s go our separate ways and to our different places so that we can concentrate and develop our children and grandchildren in peace.

“There’s nothing wrong with that. So many countries have gone through that before. So I don’t believe in all these emotions and sentiments that Nigeria is indissoluble,” he said.

Continuing, Abdullahi said there was nothing like indissolubility in any country.

“Take Great Britain, they’ve been a model for 1,000 years of democracy and then a year or two ago Scotland that had been in the union for about 350 years opted for a referendum to get out;

WEDNESDAY AUGUST 31, 2016 • T H I S D AY

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NEWS

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

Naira Sinks to N418/$, But Demand for Nigerian Crude Remains Strong CBN licenses 11 international money transfer operators

Ejiofor Alike and Obinna Chima withagency report With speculative pressure on the parallel market refusing to abate, the naira continued to head south in the market yesterday, where it fell to a record N418 to the dollar.

The situation was largely attributed to the suspension of eight banks from the forex market since last week Tuesday, due to their inability to return the Nigerian National Petroleum Corporation (NNPC)/Nigerian Liquefied Natural Gas (NLNG) Company dollar deposits to the Treasury Single Account (TSA) domiciled with the CBN. The banks – First Bank of Nigeria (FirstBank) Limited, Diamond Bank Plc, Sterling Bank Plc, Skye Bank Plc, Fidelity Bank Plc, Keystone Bank Limited, First City Monument Bank (FCMB) Limited, and Heritage Bank Limited – were yet to remit a total of $1.804 billion NNPC/NLNG funds to the TSA as of yesterday.

Since their suspension, the naira has falen steadily due to strong demand for the greenback by customers of the eight banks banned from the official forex market.

It was gathered that a lot of them resorted to the parallel market for dollar purchases to meet pressing obligations, as they await the resolution of the matter between the banks and the CBN. However, the spot rate of the naira on the interbank market closed at N318.14 to the dollar, marginally higher than the N318.83 at which

it closed the previous day.

The performance of the naira on the interbank forex market was attributed to an intervention by the central bank, which sold around $1.5 million yesterday to support the currency.

Also, in furtherance of its efforts to liberalise the foreign exchange market, to ensure liquidity, and make FX readily available to low end users, the CBN yesterday disclosed that it has licensed 11 more International Money Transfer Operators (IMTOs) to operate in Nigeria.

The central bank, in a statement signed by its acting Director, Corporate Communications, Isaac Okorafor, said the move was in line with the existing guidelines on International Money Transfer Services in Nigeria (2014).

The newly registered IMTOs are Trans-fast Remittance LLC, Worldremit Limited, UAE Exchange Centre LLC, Wari Limited, Homesend S.C.R.L, Small World Financial Services Group Limited, Weblink International Limited, Cashpot Limited, DT&T Corporation Limited, FIEM Group LLC DBA PING Express, and CP Express Limited.

CBN also reiterated its commitment to providing an enabling environment for international money transfer services in Nigeria.

Nigeria’s crude oil has remained strong, despite a spate of attacks on oil and gas facilities in the Niger Delta, including yesterday’s attack by an Urhoboland-based group, Niger Delta Greenland Justice Mandate in Delta State.

This is coming as Iraqi Prime Minister Haider al-Abadi stated that his country would support any decision by the Organisation of Petroleum Exporting Countries (OPEC) to cut production to ensure recovery of prices.

The latest militant attack is coming days after the most dreaded militant group in the oil-rich region, Niger Delta Avengers (NDA), said it had declared a ceasefire.

Nigeria’s oil production has slumped by around 700,000 barrels per day due to the destruction of oil and gas facilities by the Niger Delta Avengers, which had claimed

responsibility for most attacks in the region.

However, the new militant group said it attacked the OgorOteri pipeline, operated by Nigerian Petroleum Development Company (NPDC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC) and Shoreline Natural Resources, which owns 45 per cent stake in Oil Mining Lease (OML) 30.

While the spokesman of NNPC, Mr. Garba Deen Muhammad said the attack was being investigated, the Niger Delta Greenland Justice Mandate said the attack actually took place at around 03:00 a.m.

(0200 GMT) yesterday.

Despite the attacks, Reuters reported that Angolan and Nigerian crudes were offered at high levels, although potential buyers argued in favour of lower prices, citing

weaker refining margins and higher freight costs.

While Shell’s Forcados and Bonny Light, ExxonMobil’s Qua Iboe and Agip’s Brass River crude grades remain under force majeure, other grades were said to have received strong offers.

For instance, Bonny Light was said to have been offered at dated Brent plus $2.80 per barrel, with oil marketing company, Sahara Group moving a cargo of Erha grade meant for end of September.

However, in an effort to prop up prices, Iraqi Prime Minister Haider alAbadiyesterdaytoldanewsconference in Baghdad that Iraq would support a decision by OPEC to freeze oil output.

“We are with freezing production at the OPEC meeting,” he said, in the clearest indication yet about the position Iraq will support when the oil exporters’ group meets next

month.

OPEC members are due to meet informally in Algeria on the sidelines of the International Energy Forum (IEF) on September 26-28.

Iraq, OPEC’s second-largest producer after Saudi Arabia, has previously sent contradictory signals about its position.

Oil Minister Jabar al-Luaibi last week said Iraq plans to play “a very active role” with other OPEC members to support prices while at the same time expanding its own output, which now stands at about 4.6 million barrels per day.

Iraq funds 95 per cent of its budget through oil sales and its economy is reeling under the double impact of lower crude prices and the cost of fighting the Islamic State, the terrorist group that overran swathes of its territory two years ago.

Crude Demand Still Strong

Meanwhile, the demand for

The Energy in Nigerian Startups is Amazing, Says Facebook Boss, Zuckerberg Emma Okonji The founder of Facebook, Mark Zuckerberg, yesterday commended efforts of rising startups in Nigeria.

Zuckerberg who made the commendation on his verified Facebook page, during a visit to Co-creation Hub Nigeria (CcHUB) in Yaba, Lagos, said he his excited to learn as much as he can in Nigeria which is his first trip to sub-Saharan Africa.

He said: “Next stop: Lagos! This is my first trip to sub-Saharan Africa. I’ll be meeting with developers and entrepreneurs, and learning about the startup ecosystem in Nigeria. The energy here is amazing and I’m excited to learn as much as I can.

“Our first stop is the Cocreation Hub Nigeria (CcHUB) in Yaba. I got to talk to kids at a summer coding camp and entrepreneurs who come to CcHub to build and launch their apps. I’m looking forward to meeting more people here!”

Zuckerberg made a surprise visit to Nigeria, which has turned out to become Facebook’s largest African market.

During the visit, he met with developers and entrepreneurs, including the Nigerian startup ecosystem in Lagos.

Over the years, Cc Hub has served as a start-up incubator and accelerator, housing successful start-ups such as BudgIT, a civic enterprise which focuses on accountability and transparency in government budgets. While at Cc Hub, Zuckerberg also met with young kids attending a summer coding camp.

Zuckerberg is likely to meet with Nigeria’s President Muhammadu Buhari or Vice President Osinbajo before he leaves Nigeria.

The arrangements for Zuckerberg’s visit to Nigeria were successfully kept under wraps till he appeared in Lagos yesterday after a visit to Rome with his wife, Priscilla Chan, where he is reported to have met the Pope.

Tomorrow, Zuckerberg is expected to meet with technology journalists, where he is expected to share Facebook’s strategic plans for Nigeria. Though the visit is part of a series of global town hall meetings, Facebook’s strong ties with Nigeria cannot be ignored.

With 16 million people visiting the social media platform monthly, Nigeria remains Facebook’s biggest market in Africa.

Cont’d on page 51

AUGUST VISITOR

FounderofFacebook,MarkZuckerberg (secondright),duringavisittoCo-creationHubNigeria(CcHUB)inYaba,Lagos...yesterday

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Britain Ready to Help Nigeria Recover Stolen Wealth Signs MoU with Nigeria Tobi Soniyi in Abuja The British Government has pledged its readiness to return Nigeria’s stolen wealth hidden in the United Kingdom.

Speaking in Abuja after signing a Memorandum of Understanding (MoU) between Nigeria and the UK, British Minister of State for Immigration, Robert Goodwill, said his country was committed to the return of all funds looted from Nigeria.

The Attorney General of the Federation and Minister of Justice, Mr. Abubakar Malami (SAN) signed on behalf of the federal government while Goodwill signed for the UK. The signing of the MoU was a follow up to the agreement reached at the London anti-corruption summit held in the UK last May. The MoU centred on modalities

for the return of Nigerian stolen assets.

Speaking at the exercise, which took place at the Ministry of Justice, Goodwill stated that the MoU provided the mechanism by which monies could be returned.

According to him, there is no safe place for stolen assets in the UK any longer.

He explained that the ability to recover and return the previously looted funds would discourage future attempts to steal.

Goodwill said: “We are keen to do this as soon as the necessary legal process allow.

As outlined at the summit, we would be taking steps to accelerate the procedures for identification and confiscation of illegally acquired assets.

“We are committed, as is Nigeria, to ensure that beneficial

ownership of assets is made available to relevant authorities so they know who the real owners are, of assets held in the UK. “Our ability to recover and return stolen assets should send a clear message to all who may seek to habour such assets that there is no safe haven in the UK.” He said that 40 jurisdictions including British Overseas Territories and Crown Dependencies announced that they would automatically share beneficial ownership information relating to companies, trusts, foundations, shell companies and other relevant entities and legal arrangements.

In his response, the AGF stated that the MoU reflected the desire and willingness of both

countries to continue cooperation and mutual support in the responsible and transparent return of all recovered assets.

He stated the objectives of the MoU to include: the fact that the processes of returning stolen assets was a partnership recognising the interest of both countries and based on mutual understanding, confidence and trust; “That both countries recognised that they have a mutual interest in ensuring that returned assets are not at risk of being misappropriated again and that both countries recognised they have obligations towards their own citizens for providing such assurances; That both countries recognised the importance of ensuring that the highest possible standard of transparency and accountability are applied for the return of assets.”

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COMMENT

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

BUHARI’S FOREX SUBSIDY CORRUPTION

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Sonnie Ekwowusi argues the government must fight the war on corruption with sincerity

he uncertainties, confusion and negative reports coming out from Nigeria could kill the optimism in the most die-hard optimists. With every passing day the overflowing expectancy of splendour and fecundity vanishes away. In the past we were moving round in concentric circle. Now it is obvious that we are sliding backwards in confusion. Listen to this: last week the internally displaced persons (IDPs) in Maiduguri trooped out en masse from their different camps to protest against hunger and deprivations. When I saw the angry faces of those malnourished internally displaced kids walking the streets in protest it dawned on me afresh that the fabric of our society has really and truly broken down. What a shame! According to the IDPs spokesperson, “We are not fighting but fighting for our survival. There is no food, there is no water. No medication for our sick kids; we want food or they should send us back to our villages. They don’t allow us to go out to beg. We are kept like prisoner without food….”

When a country becomes so corrupt that food meant for the socially-uprooted and societal dregs is routinely stolen by agents of government it is a clear sign that the country has sunk so low. Only a depraved society can steal food meant for the poor. What this means is that the Nigerian corruption story is very complex. We erroneously think that corruption only occurs in Nigeria when the EFCC catches a politician who stole government money and puts him in detention. We forget that we are born and reared in a political culture of corruption. We forget that there are various forms of insidious official corruption destroying Nigeria.

The latest corruption rearing its head in this Buhari government is the foreign exchange corruption. It is sad that from fuel-subsidy corruption under former President Jonathan, we are now witnessing a strange forex-subsidy corruption under Buhari. The public is scandalised. Everywhere the forex policy corruption is the subject matter of public discussion.

Even President Buhari’s ardent supporters are scandalised by the forex subsidies corruption. One such ardent supporter is Emir of Kano and former Central Bank Governor, Sanusi Lamido Sanusi. Last week, Sanusi spoke loudly against the forex corruption under the Buhari government. Delivering a paper titled: “Nigeria-The Search for A Growth Model” at the 15th Joint National Council on Developmental Planning meeting held in Kano, Sanusi expressed disgust at the alacrity at which businessmen and friends of the government bulldosed their way through the central bank to buy dollar at the official rate of N197 and proceeded to re-sell same at the parallel market at a much higher rate. Sanusi stated that even though he is a friend of the government, he is more

A GOVERNMENT THAT CLAIMS TO BE FIGHTING CORRUPTION CANNOT TURN ROUND TO BE CONDONING ROUND TRIPPING

in love with the truth than mere sentimental attachment to government. He stated that while the Buhari government is accusing the Jonathan government of being corrupt, the Buhari government itself is equally corrupt. For example, he said that while it is true that many Nigerians corruptly enriched themselves from oil subsidy under Jonathan, many Nigerians are equally corruptly enriching themselves from forex subsidy under Buhari. According to Sanusi, “we created billionaires from oil subsidies in the past. We are making the same mistake with Forex…as an Emir, I can seat in my garden and make phone calls to access $10 million at N197 per $ and then sell it off at nothing less than N300. With just a phone call, I’m making a profit of over a billion naira. That is what people are doing now… Any system that allows you sit in your garden and make a billion naira without investing a kobo is a wrong system.”

This is worrisome. The forex subsidies corruption will continue to elicit public commentaries for a long time especially when weighed against the background of President Buhari’s anti-corruption stance. Godwin Emefiele’s central bank has announced to the whole world that market forces would determine the forex rates, yet the same CBN is secretly going behind to negotiate and fix special forex rate for some special people to the ruin of the economy and many businesses in Nigeria. A government that claims to be fighting corruption cannot turn round to be condoning round tripping. It cannot be allowing those with political and tribal connections to be buying dollars at N197 and reselling at higher rate at the parallel market. Such a government-approved round tripping defeats the purpose of the war against corruption.

It is incredible that despite Sanusi’s and the public criticisms trailing the round tripping, it has continued unabated. Sanusi said that for every billion dollars taken out of the federation account and sold by the central bank at N197, Nigeria loses about N100 billion that could have been used to revive our moribund primary health care institution, boost agriculture and even pay salaries of government workers.

Consequently Emir Sanusi strongly urged the Buhari government to put an immediate stop to the forex subsidies corruption and other abuse-prone subsidies. That, according to him, was one of the things Nigeria must do now to come out of the present economic recession. President Buhari has no option but to listen to Emir Sanusi and other voices of reason.

Since the ruling APC is incapable of weathering the storm alone, a coalition of ideas and visions, as proffered by Prof.

Chukwuma Soludo, could pull Nigeria out of the recession.

President Buhari should not simply jettison all the economic ideas of former President Jonathan’s economic team.

NDA’S TRUCE AND THE NIGER DELTA DEBACLE The Minister of State for Petroleum Resources should remain as the arrowhead of the government’s peace making effort in the Niger Delta, writes Thompson Ekpokwure

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he recent agreement by the Niger Delta Avengers (NDA) for a conditional ceasefire and to hold talks with the federal government after months of attacks on key oil and gas facilities is a welcome development.

Although, this is not the first time the group is agreeing to a truce, this appears to raise hopes that the long-drawn destabilisation of the Niger Delta region and by extension, oil facilities, is coming to an end. The body language of the federal government and that of NDA is pointing to one direction: both parties seemed to have resolved to end the sabotage in the interest of the nation.

Before now, keen observers of the Niger Delta debacle will acknowledge the efforts of President Muhammadu Buhari on the lingering crisis. From the onset, most of the government efforts were dampened by a lot of mitigating factors, hindering the peace process. A good case in point is the power struggle among militant groups in Niger Delta, which, to a large extent, hindered the initial efforts of the government. Most disturbing is the acrimony between the Niger Delta Avengers and Movement for the Emancipation of the Niger Delta (MEND) which has continued, with both groups accusing each other of derailing the struggle.

Not to be ignored also is the hawkish posture of some elements of the Buhari administration who believe that the only way to go is to defeat the militants on the battle field! Then there is the place of the economic

parasites that have sprung up in a bid to benefit from any agreements the government will reach with the NDA, MEND, or any other, thus making the negotiation process even more cumbersome. The totality of this is to create the impression that the present administration has not succeeded in building back the economy.

This is where the efforts of the Minister of State for Petroleum, Dr. Ibe Kachikwu, come in. Since the NDA publicly announced its existence in March 2016, Dr Kachikwu has not failed to point out the huge loss occasioned by the massive destruction of oil assets in the Niger Delta. Burdened with the massive economic loss Nigeria was experiencing on daily bases, the minister has taken a step further to see that the issue of Niger Delta militancy is arrested. With Kachikwu’s unflagging commitment and passion for a lasting solution, this administration began to lead conversations with the militants which have successfully triggered a lot of engagements that are now taking place with the authorisation of President Buhari.

Such peaceful moves, when concluded, are expected to get oil production up, or even return to our production ceiling for this year of 2.2 million barrels.

Apart from his unalloyed efforts to reduce waste and increase Nigeria’s production capacity which was brought down by activities of the militants, Dr. Kachikwu, has all the while, shown total commitment in safeguarding oil facilities, oil producing areas and its people. The Niger Delta-born

technocrat does this with all sense of courage, focus and loyalty. The courage he exhibited when Niger Delta Coastal State monarchs visited him recently in Abuja said it all. Dr Kachikwu looked at the traditional rulers, eyeball to eyeball, and told them point blank, that there was no infrastructure in the creek to show for the $40 billion released to the Niger Delta in the last 10 years and therefore could not immediately grant their wish.

He, therefore, made it clear to them that unless the issue of transparency in the management of funds is solved, there will be no further release of cash. To him, President Buhari, who he said is totally committed to the engagement of the Niger Delta people, is more interested in the data on what happened in the past in Niger Delta so as to know the fundamentals that are necessary for a solution.

Little wonder the minister has been honoured in many quarters despite malicious accusations in some corners. For his invaluable roles in Niger Delta issues, National Association of Gbaramatu Students (NAGS) recently confirmed that Dr Kachikwu is one of their own, describing the minister as a “Godsent”. To them, the Minister of State for Petroleum was always out and ever ready to liberate the people of Niger Delta.

“We pass a vote of confidence in him.

If there are others like him, who think positively about our region, then we would not have been in this level that we are today.” President of the association,

Seiyefa Ekpemupolo said in a statement.

The NAGS award is just one out of an array of accolades presented to the minister due to the positive role he is playing in the Niger Delta region and other parts of the country.

In the light of the above, Dr Kachikwu who has already earned the confidence of the people of Niger Delta, as “Godsent”, should be allowed to remain as the arrowhead of the federal government’s peacemaking effort in the Niger Delta. He has gained the confidence of the aggrieved Niger Delta people, one of the major credentials in leading a dialogue team. He should therefore be allowed to lead the federal government’s team to the negotiations.

Be that as it may, there is urgent need for the NDA to lay down arms and embrace the peace overtures of the federal government.

Nigerians should, as a matter of fact, appreciate and support the efforts of President Buhari and his team to end the crisis and emphasise the need for a more collaborative effort by all stakeholders towards ensuring an enduring solution to the Niger Delta question. Truth is, if this peace initiative eludes us, it is still the people of the Niger Delta who will pay the biggest price for militancy in their area. They will pay the biggest price for pollution, for insecurity, killings, kidnap, destruction and other vices associated with militancy. Worse still, they will be on the firing line in the event of an all-out military expedition.

Ekpokwure wrote from Warri, Delta State

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EDITORIAL BEYOND THE SHAME IN RIO

Sponsorship of sports is increasingly becoming a burden to government. It could be lightened by the private sector

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igeria’s 78th position on the medal log at the 2016 Olympic Games in Rio, Brazil, highlighted the dire state of sports in the country. A solitary bronze medal won by the football team has failed to douse public anger and call for a proper inquest from an outing considered a national embarrassment. It appears Nigeria has not learnt any lesson in sports administration in the past four years, following the shambolic performance at the London Games where the contingent drew blank and returned home without a single medal.

With Kenya leading the African pack with six gold medals, followed by South Africa, Ethiopia, Ivory Coast, Tunisia, Egypt and Niger Republic, Nigeria only wobbled to the finishing line courtesy of football, a day before the curtains were drawn on Rio 2016, to salvage its only Olympic medal.

But it was expected. It has become a permanent part of our national culture to begin preparing for international sporting engagements just on the eve of the event. It is surprising that we sometimes end up winning laurels in spite WE NEED TO IDENTIFY of our tardiness.

A VIABLE SOURCE OF However, our over SPONSORSHIP, MOSTLY reliance on government PRIVATE SECTOR initiatives alone to get COMPANIES AND us to the top of internaLITERALLY HAND OVER tional sports is part of THE ADVERTISING RIGHTS, the problem. A critical LOGISTICS, ETC., OF appraisal of the tardy SUBSEQUENT OLYMPIC performance will reveal PREPARATIONS AND one of the underlying PARTICIPATION TO THEM causes behind the horrible outing in Rio was poor funding of sports. Therefore, it does not matter if we start preparing for the Tokyo Olympics this week. For as long as we leave it to government sponsorship and organisation, we are not likely to get much better results than Rio. The example of the United Kingdom ought to be instructive. At the 1996 Atlanta games, the UK fared worse than

Letters to the Editor

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

even Ethiopia on the medals table. It was then in the same league with Nigeria which did remarkably well under the spirited leadership of the duo of Jim Nwobodo and the late Emeka Omeruah. But the British government under then Prime Minister John Major would not accept the poor performance and therefore sought ways of reforming the British Olympic movement. It identified funding and ‘ownership’ as key deterrents.

For funds, the British government decided that the proceeds of the National Lottery would go into the country’s Olympic contingents thenceforth. Energised by the huge lottery money, the Olympic movement then tapped into other private sector sponsors for endorsements of individual athletes. With the money problem solved, the Olympic movement was now free to embark on endless training programmes, hiring the best coaches and trainers to prepare their team in the events and games where the country has comparative and competitive advantage. That accounted for Great Britain’s 67 medals haul in Rio! The United States’ model is more or less the same. It is the big corporations that fund and sponsor the team and individual athletes. The US government provides security, logistics and co-ordination as the glory of victory goes to the nation and its people. We must begin by reducing the dependence of our sports on the pomposity of some sports ministers and their officials. They tend to treat these games as extensions of their little egos which rub talented athletes and sports persons in the wrong place. We need to identify a viable source of sponsorship, mostly private sector companies and literally hand over the advertising rights, logistics, etc., of subsequent Olympic preparations and participation to them.

Written into the deal should be some tax incentives as well. We should have Nigerian companies sponsoring different aspects of our participation: training, apparels, hospitality, air transportation, welfare, health insurance, etc.

It is not only in football that we should always hunt for the best trainers. It is the representatives of these sponsors rather than officialdom that should accompany the athletes while government representation should be minimal to complement our embassy staff in the host country.

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.

ONDO: DEMOCRACY WILL TAKE ITS COURSE As the race for the Ondo governorship heats up, the signs are so clear that the All Progresives Congress is on course to achieve remarkable success in the November 27 election. This is evident, for instance, in the sheer number of aspirants that have expressed interest in flying the APC’s flag in the election. This is indicative, not only, of the immense goodwill our party enjoys in Ondo State but also the confidence the gubernatorial aspirants repose in the APC’s chances in the gubernatorial elections, particularly against the background of the abysmal performance of the Peoples Democratic Party- led administration in the last eight years.

It is not unusual in the context of such intense competition for the ticket of a popular party like the APC, that there will be diverse allegations, insinuations and innuendoes as regards the transparency, impartiality and integrity of the intra-party process. This has always been the case in all party primaries in the country since 1999. But no one can doubt that the APC has always demonstrated its commitment to demonstrably credible intra-party primaries at all levels.

This was evident in last year’s presidential primaries as well as the transparent intra-party polls to pick candidates in Kogi and Edo States for example.

As the highest-ranking party leader from Ondo State, I strongly affirm that the Ondo APC governorship primaries will be no exception. The APC as a party is committed to a free, fair and

transparent process that will see the candidate with the most votes emerge as flag bearer. And from that moment on, the party, other contenders and the leadership will line up behind that flag bearer. To insinuate a contrary plan without any evidence is political mischief and we must be wary of those pushing this agenda to weaken the APC ahead of the governorship elections.

The screening of all 24 candidates took place in a most transparent manner at the national headquarters in Abuja. Candidates have seen that they have been screened with no intention to disqualify anyone. Each candidate has a right to contest in the race. With the screening concluded, all that sailed through have the chance to campaign as hard as they want. Their concentration should shift to how they will become the choice of the electorate or become the candidate of choice by the electorate. All said and done, the people, in this case, the delegates will ultimately decide.

The attempt to scapegoat the chairman of the party and a few other leaders is unnecessary distraction. The primary will be conducted by the national head quarters of the APC based on the constitution of the party and not the whims of any state party chairman. The delegates’ list is under lock and key. Any complaints can be channelled through me to the national headquarters.

Those attacking and cursing and encouraging hooliganism are only working to weaken the party. They might even be agents of

destabilisation.

For each of the aspirants, victory will only be delivered based on the number of people they are able to convince to vote for them and ultimately how they square against our political opponent, the PDP. Just like in other party primaries both within and even in the most advanced countries, influential party leaders throw their support behind aspirants they believe can best represent the party’s values and ethos as well as help achieve victory in the general election. In the ongoing electoral process in the United States, for instance, Hillary Clinton became her party’s candidate largely with the support of the Democratic Party establishment while Donald Trump emerged triumphant in the Republican Party because the party rank and file defied the preferences of the party establishment.

The most important determinant of the emergence of a democratic party’s candidate, therefore, is the will of the majority of the accredited party delegates. It is certainly an unfair underestimation of the intellect and character of the people of Ondo State to insinuate that 3000 delegates will have no minds of their own and can be herded in a given direction through any form of ‘imposition’ or ‘endorsement’. Indeed, once the party principle of free and fair primaries is adhered to the last letter, terms like imposition and endorsement become irrelevant and diversionary.

Chief Pius Akinyelure, Vice-Chairman, South West APC

TIME IS RUNNING OUT It is understandable that a nation at a point in time undergoes economic challenges, like Nigeria has experienced in times past. The emergence of President Muhammadu Buhari, gave Nigerians the hope that issues such as corruption, unemployment, among others, will be things of the past.

Therefore, the hardship currently faced by Nigerians is becoming unbearable. Nigerians are wondering how long it will take to get relief from the frustration and pain that is shaking the country and begin to enjoy the promises made during electioneering campaign.

Joshua Ozorji, ANEEJ, Benin

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MIDWEEKPOLITICS

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

THE NEWSMAKER

Kogi’s Evolving Story at 25 On Saturday, August 27, Kogi State celebrated 25 years of its creation by the military junta of General Ibrahim Babangida. Although the state has since struggled with basic development challenges, its story is nonetheless changing, writes Yekini Jimoh

K

ogi State is located in the North Central zone of the country.

The confluence state as it is otherwise known came to be as a result of the split of the old Kwara and Benue States, created by former military President Ibrahim Babangida, on August 27, 1991. While Kogi West and Kogi Central senatorial districts as they are today were taken out of Kwara, Kogi East was taken out of Benue to form the present day Kogi State.

The state has a unique place in the history of the nation as the two words – Niger Area – which was later merged to name Nigeria was derived from the snaky nature of the popular River Niger through Lokoja, the present state capital of Kogi State. It is bordered by land and rivers by the Federal Capital Territory, Kwara, Niger, Nasarawa, Ondo, Ekiti, Benue, Edo, Enugu and Anambra States.

It is tremendously blessed by God as it has vast arable land for agriculture, tourism sites, solid minerals in large commercial deposits and crude oil deposits. As at today, 28 out of the solid mineral deposits that are found to be in large commercial deposits in Nigeria are located in the state.

It is also home to Africa’s largest cement company, Obajana Cement Company Plc, the $5 billion Ajaokuta Steel Company and the National Iron Ore Mining Company among others. The state, as many reckon, is the future of Nigeria.

Unfortunately, the 25 years journey of the state has not been without challenges, both natural and unnatural. Like any of its counterparts in the country created on the same day, it has come under the rule of military and civilian regimes. In its 25 years of existence as a state, Kogi has been ruled by four military and four civilian governors, including the incumbent, Alhaji Yahaya Bello of the All Progressives Congress (APC).

The state is believed to have witnessed its golden moment under the regime of the late Abubakar Audu from 1991 to 1993 and 1999 to 2003. During these periods, conscious efforts were made by Audu to lay a solid foundation for the future and development of the state.

This manifested in massive infrastructure development in roads, water and health sectors and the execution of land mark projects like the Abubakar Audu University, Ayangba; Kogi State Polytechnic, Lokoja; College of Education, Ankpa; Confluence Beach Hotel, Lokoja; Kogi State Broadcasting Corporation and the Kogi State Newspaper Corporation among others.

The golden era was, however, terminated by forces and interests within and outside the state in 2003 and since then, the state has been sprawling from one problem to another. Notable among these are corruption, nepotism, favoritism, tribalism, political thuggery, armed robbery, kidnapping, mismanagement of resources, lack of vision and inept leadership.

May 29, 2003 to January 27, 2016 under the Peoples Democratic Party (PDP) was generally believed to have represented the darkest part in the history of the 25 years of the state and its people. It was the period when impunity, tribalism, nepotism and widespread corruption put together, derailed the state from the path of greatness set for it by its founding fathers.

The lot has now fallen on the younger Yahaya Adoza Bello, who took over as the 8th governor of the state on January 27, 2016. Six months into his administration, Bello is believed to have taken the bull by the horn by charting a new path for the state, with a view to restoring

Bello...a new Kogi in the making

its lost glory.

Chiefly among these is the ongoing restructuring of the state civil service such that civil servants will be in good stead to formulate and implement the new direction agenda of the administration in a way that will benefit

The golden era was, however, terminated by forces and interests within and outside the state in 2003 and since then, the state has been sprawling from one problem to another.

Notable among these are corruption, nepotism, favoritism, tribalism, political thuggery, armed robbery, kidnapping, mismanagement of resources, lack of vision and inept leadership

the people in urban and rural areas.

The new governor is also placing staff welfare on top priority as he has paid the three months outstanding salary from the previous administration and another four months, making a total of seven months within seven months of his assuming office.

A staff screening and verification of workers committee he set up in February this year, has helped the state in discovering over 18, 000 ghost workers, excluding thousands of workers collecting multiple salaries from the government at all levels. The fraud in the payment of pensions to retired state and local government workers in the state is also receiving the attention of the governor.

He has also embarked on the rejuvenation of such sectors as the agriculture, education and the health through training and re-training of personnel and purchase of equipment that will add value to the sectors.Bello has also within his short stay in office restored regular supply of water to major cities of Lokoja, Idah, Okene, Kabba and Ankpa in addition to rehabilitation of township roads in some of the cities.

In the area of industrialisation, Bello has been quick to resuscitate the Ajaokuta Steel Complex and the National Iron Ore Mining Company at Itakpe. He is on the same page with the federal government on this and had already held series of meeting with an Indian Company, Global Infrastructure Limited, to which the iron ore mining company has been concessioned.

Apart from these, the administration of Bello is collaborating with the Dangote Group on its plan to invest $160 million in coal mining and power plant in Okaba, Ankpa Local Government Area of the state.

Sadly, the problem of insecurity in the state has reached an alarming proportion, making the government of the United States to include it among the 20 unsecured states in the country.

Bello was prompt to respond to this by embarking on the purchase of 200 patrol vans for the police, state security service, civil Defence corps and security organisations in the state. All the vehicles were handed over to the beneficiaries on Saturday to commemorate the 25 years anniversary of the state.

He has also started holding meetings with traditional rulers, security agencies, opinion leaders and other stakeholders on how to improve the security situation of the state. The government has also introduced community policing that will involve traditional rulers, hunters and vigilante groups to complement the efforts of the police.

Thus, as the state marks its 25 years of creation, it is expected that the major ethnic groups of Igala, Okun, Ebira and other minority groups will discard hostility towards each other and embrace the new path of unity, peace, progress and development being charted by the Bello administration.

Importantly, the re-invention of state is a task for all, including those in the diaspora, as it marches forward in its development journey.

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T H I S D AY • WEDNESDAY, AUGUST 31, 2016

ONTHEWATCH

MIDWEEKPOLITICS

R-L: National Chairman of APC, Chief John Odigie-Oyegun, President Muhammadu Buhari and a national leader of the APC, Bola Tinubu

Ondo APC and a Mockery of Party Politics The perceived endorsement of Mr. Olusegun Abraham, a governorship aspirant of the All Progressives Congress in Ondo State, by a national leader of the party, Bola Ahmed Tinubu, ahead of the September 3 rescheduled primary, has continued to generate mixed reactions from interested parties, writes Femi Ogbonnikan

A

s the Ondo State chapter of the All Progressives Congress (APC) prepares ahead for its gubernatorial primary rescheduled for Saturday, September 3, 2016, all eyes are on the choice of the party as its standard bearer, preparatory to the Saturday, November 26, 2016 governorship election between the two formidable parties – PDP and APC – in the state.

Interestingly, the choice of the APC candidate that is expected to slug it out with the candidate of the PDP, Mr. Eyitayo Jegede (SAN), has come to the front burner of public discourse. But political watchers already perceive cracks which now unsettling the state leadership of the party along two camps – the fresh ideas and the legacy.

The fresh ideas group is believed to be made up of the young elements whose ages range from 45 to 55, while the legacy group is composed of the old men, between 60 and 70 years.

Expectedly, a young and agile candidate like Jegede, the PDP candidate, with vibrant credentials and promising potential, it is believed, is required to call the bluff of the intimidating profile of the APC candidate.

Young elements being touted as likely APC candidate include Akinboye Taiwo Oyewumi, Moyosore Niran-Oladunni, Akinfehinwa Awodeyi (aka Apata) and others.

Jegede, a brilliant lawyer, in his early 50s, came to public glare, following his appointment as Commissioner for Justice

and Attorney General of Ondo State, at the inception of Governor Olusegun Mimiko’s administration in 2009.

Curiously, the attendant angst and bickering are currently making mockery as much as rocking the boat of the APC, following rumours of the endorsement of Abraham, one of the aspirants, by Tinubu and has pitted other aggrieved aspirants against the Ikare-Akoko politician.

Curiously, the attendant angst and bickering are currently making mockery as much as rocking the boat of the APC, following rumours of the endorsement of Abraham, one of the aspirants, by Tinubu and has pitted other aggrieved aspirants against the Ikare-Akoko politician

With this unsavoury development, the Chairman, Ondo State chapter of the APC, Mr Isaac Kekemeke was sacked for his alleged role in the endorsement of Abraham.

Going ahead with the imposition, it is feared co-aspirants might slip into despondency, despite repeated assurances by the leadership of the party of a level-playing ground.

First to fire the salvo, Dr. Tunji Abayomi, a human rights lawyer, also an aspirant, took a swipe at Tinubu, and wrote an open mail to him, warning against the repeat of the mistake of 2012 governorship, where Mr. Oluwarotimi Akeredolu (SAN) was believed to have been imposed and fielded by the defunct ACN to slug it out with Mimiko.

To further worsen the matter, the in-fighting assumed another dimension between Abraham and Akeredolu, when the latter, while featuring on a personality programme of Adaba Radio station, Akure, recently accused some co-aspirants of kidnapping delegates ahead of the primary.

According to him, “out of their desperation, some aspirants invited some delegates to a meeting, but later held them hostage. These delegates who never knew the intent of the desperate aspirants went for a meeting, but only to be confined and never allowed to go home,” he said.

Abraham, 63 years old, would later upbraid Akeredolu over his recent comments on Ondo State Radio Station, where he claimed Tinubu was not responsible for his emergence as the ACN governorship candidate in the

2012 poll and the fact that Tinubu had lost his status as the national leader of the party over his endorsement of an aspirant ahead of the forthcoming APC primary. He described his comments as unfortunate and an ungrateful act.

“The national leader was accused of imposing me, I was not imposed. Endorsement is different from imposition. Those who regarded the two as the same do not know what they are saying. The national leader only said ‘I am a preferred aspirant that can deliver the state for APC in the coming election’.

There is still going to be primary election and delegates know who they are going to vote for and who can win election for the APC”, Abraham.

But in a swift reaction, Akeredolu, a former Nigerian Bar Association (NBA) President, denied making unsavoury comments against Tinubu.

“My attention has been drawn to some stories making the rounds, especially on the social media, linking me with some ridiculous comments and incendiary quotes on the purported endorsement of candidates in the governorship primary. Those who know my antecedents will attest to the fact that I am a man of courage,” said Akeredolu.

Nevertheless, aggrieved aspirants and political watchers are alike have warned of the dire consequences of imposing a candidate on the party, thus admonishing the leadership to have a rethink before making itself a ribaldry butt of jokes.

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WEDNESDAY, AUGUST 31, 2016, • T H I S D AY

FEATURES

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

Charged to Impact the World

The 17th graduation ceremony of Global International College was more of a call to duty.

Peter Uzoho who was there, reports that graduands were charged to impact their world

Graduating students from Global International College, Lagos, pose with guests ...recently

T

he hunger and longing to see young ones rise to become agents that would change the trajectory of the nation and impact on the world positively, was central to the farewell message given to graduating students of Global International College, Lekki, Lagos.

The 17thAnnual Graduation and Award ceremony of the school, held recently at the Redeemed Christian Church of God’s Hall, Lekki, marked the end of one year academic sojourn of Class of 2016, who joined the school a year ago for their International Degree Foundation Programme.

It was a day of joy, excitement and fun to the graduating students who have crossed another bridge in their quest for intellectual advancement. To their parents and guardians, seeing their wards scale through the one year programme without any ugly report, was a reassurance that their investment in them was not a waste. Equally, Global International College on their part could not stop holding their shoulders high for seeing their efforts yield positive results.

The ceremony commenced in its traditional manner as the graduating students adorning billowing navy blue academic gowns, with corresponding caps and shoes, beamed with smiles, gently processed in unison into the hall, while the high table members, also in their academic regalia processed behind them, as the guests admired in response.

Having settled down in their prearranged seats, the opening prayer was said, followed by the singing of national anthems. Four different national anthems were sung at the event.

The Nigeria’s national anthem and prayer, the British anthem, the anthem of the United States of America and that of Canada. This was because, most of the out-going students would be leaving for those countries for their university education, and the countries' representatives of the universities in Nigeria were present at the occasion.

Shortly after that, the Founder and Chief

Executive Officer, Global International College, Mrs. Abolaji Osime, rose to deliver the welcome address. She seized the opportunity to inform the graduating students of the new stage they had moved into in their lives.

Osime made them to be on the know of their new challenges and responsibilities as they were going to become students of different universities in the world.

“Nearly a year ago, most of you joined us on a journey and today, we’re gathering

University education is quite different from the sixth form education you have just completed. Going to the university brings up new challenges, responsibilities and maturity.You were once treated like children, but now you, will be treated as adults. The university environment is quite different from what you have been used to.

You were born to be great, born to impact the world. Our world is desperate for the next generation who are determined to make a difference

for your graduation ceremony which opens another chapter in your academic journey.

A few months from now, you will become students of different prestigious universities all over the world,” she said.

“Dear Class of 2016, university education is quite different from the sixth form education you have just completed. Going to the university brings up new challenges, responsibilities and maturity. You were once treated like children, but now you, will be treated as adults. The university environment is quite different from what you have been used to. You were born to be great, born to impact the world. Our world is desperate for the next generation who are determined to make a difference.

Reminding them of the lofty expectations of the country from them, Osime said “Nigeria is desperate for young hardworking men and women who will come back to change the trajectory of our nation. We need students that will stand apart to take on the crowd.”

She used the success stories of some accomplished stars both the indigenous and foreign, among whom is Linda Ikeji, to set as worthy examples, calling on the graduands to try to be like them, saying that they should be determined to make an impact while standing out from the crowd. Osime also encouraged them to take their spiritual lives seriously.

“Class of 2016, I admonish you to be like one of these young men and women. Be determined to make an impact, be determined to stand out, be determined to say no to peer pressure, stand your ground. Stand for God and always do the right thing. Class of 2016, draw closer to God. Don’t miss church, not even for one Sunday. My prayer for you is that you will be the light. No matter whatever pressure that comes against you, don’t change.”

However, she reminded their parents and guardians who were present at the occasion to never forget their advisory and counselling roles on their children and wards. “Our dear parents, we have done our bit, it is your primary obligation to discipline your children,

impressing God’s commandments upon them on a daily basis,” she added.

Similarly, Vice President, Digital Services and Chief Information Officer, American University of Nigeria (AUN), Yola, Mr. Julius Ayuk-Tabe, counselled the graduating students to be mindful of the choices they make in life, noting that the choice one makes would lead to a definite destination. ”In life, you make choices and eventually your choices make you. In many occasions in our journey through life, we come to crossroads.

We are faced with choices, situations where we have to decide based on the options available. The choices we make will lead to one destination in life or a totally different place. Remember that society does not pay for effort, it pays for results. Results are the consequences of our individual decisions plus the complementary actions. Strangely but truly, indecision plus inaction also leads to certain undesirable results,” Tabe said.

Advising further, he said “Now there are no walls between you and the world wide web.

You must be your own watch person. The internet is a very good place for learning, but if poorly used, it has also been a source of great grief to many families. You have to be responsible in the way you manage your life. Most of you will be leaving your families for the very first time after this graduation. Remember that freedom comes with a price.”

Stressing on the relevance of time management, he said, “Time management is the first major assignment that you young people we have to start doing from now. This is called the secret weapon of the rich and successful. How well you manage your time will directly determine how much you get done each day. Spend your time judiciously.

Some friends can lead you to the high places of life; others can drag you to its bottom.”

In his seemingly philosophical tone, Tabe added, “Ultimately, who do you become?

Start your journey with the end in mind.

It is not the length of your stay here that

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WEDNESDAY, AUGUST 31, 2016, • T H I S D AY

FEATURES

should matter; it is the quality of that stay and the impact you make in the people with whom your paths cross. The brevity of life is its greatest surprise.”

Meanwhile, the valedictorians who have been well groomed and nurtured within the last one year by the school, in turn proved the stuff they were made of as they presented speeches that earned high ovation. First to endear himself to the audience through his sound speech was Chinedu Odibelu, who was crowned Best Student in the A- Class.

Odibelu who has already been admitted into the New York University to study Medicine was described as the whizkid of Global International College. He began his presentation with a poser “Success, achievement, greatness; what are these things and how are they attained?” He asked. He said he was “going to the university to learn and to be able to make great impacts like Alexander the Great and the like, who made great things while they were young.”

Another valedictorian, Miss Dambo Ayebabomo, displayed an extraordinary confidence and composure during presentation which earned her profuse cheers from the audience.

“There are two fundamental equalisers in life; the internet and education,” she said.

According to her, marrying the use of internet with education makes learning easy.

Commenting on the impact the school has made in her life, she said, “This is the best form of education I have ever experienced.

It has improved certain skills in me such as; independent work, responsibility, collaboration, initiative and self-regulation. They have been very relevant in my God-designed brain,” Ayebabomo said.

Speaking on how to be successful, she said “You can only be successful by making a difference and by leaving a worthy footprint in the sands of time. When you step into the world, be an epitome of success,” she added.

The last but not the least to startle the guests with a thought-provoking presentation was Master Damilola Ladipo whose ambition is to become a world class architect that would revolutionise the architectural design of Nigeria. Ladipo attributed all they were able to achieve in the school to the brilliant tutelage from their teachers.

“During the nine months here, we’ve been nourished with sound knowledge, skills and lots of ideas by our lecturers,” Ladipo said.

He used a quote to underscore the relevance of teachers in the society. “If a doctor fails to do his job a patient dies, but if a teacher fails to do his job a generation dies,” he cited.

Advising his fellow graduands on the truth about success, Ladipo added “Don’t aim for success, rather just do what you love and do what you believe in and success will naturally locate you.”

In the end, all the graduating students were conferred with awards for their hardwork, academic excellence and good character.

A total of 60 students in the class of 2016 graduated from the International Degree Foundation programme of the school. Of this number, 59 had already secured admission into different prestigious universities all over

In life, you make choices and eventually your choices make you. In many occasions in our journey through life, we come to crossroads.

We are faced with choices, situations where we have to decide based on the options available. The choices we make will lead to one destination in life or a totally different place.

Remember that society does not pay for effort, it pays for results

L-R Mrs.Dare, Bolarinwa Dare, a degree foundation student receiving her certificate from the Director General, Lagos State Education Quality Assurance, Mrs. Ronke Shoyombo; and Mrs. Abolaji Osime, at the 17TH graduation ceremony of Global International College, Lagos…recently

L-R Degree foundation valedictorian , Jesudamilola Ladipo, receiving his award from Mrs. Shoyombo Mrs. Abolaji Osime, at the 17TH graduation ceremony of Global International College, Lagos

L-R Mrs.Shoyombo ,Mrs.Osime, CEO and Mr. Julius Ayuk-Tabe, the guest speaker , Assistant Vice President and Chief Information Officer at American University of Nigeria, at the 17TH graduation ceremony of Global International College, Lagos

the world, mostly United States of America, Britain and Canada.

Global International College is a strong

purpose-driven preparatory school committed to the provision of a safe and happy environment where students from all backgrounds learn rich

and integrated curriculum, building Christian values, excellent education, and leadership skills for development of global leaders.

22

IMAGES

WEDNESDAY, AUGUST 31, 2016, • T H I S D AY

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

L-R: Secretary General, the Duke of Edinburgh International Award Foundation, Mr. John May; Special Adviser to Governor Ambode on Education, Mr. Obafela Bank-Olemoh and the Commissioner for Youths, Sports and Social Developments, Mrs. Uzamat Akinbile Yusuf, during a courtesy visit by Mr. May and his team to Lagos State Government on youths development partnership initiative, at Alausa Ikeja…recently

L R .Former Public Relations Officer of Police Force,Assistant lnspector General .Tunji Alapinni[Rtd];Oyo State Deputy Governor,Chief.Moses Adeyemo and Oyo State Commissioner of Police, Mr.Sam Adegbuyi at the inauguration of Oyo State Eminent Persons Forum by the State Police Commissioner in Ibadan...recently felix ademola

L-R: General Manager, Marketing and Sales, MultiChoice Nigeria, Martin Mabutho; General Manager, GOtv, Akinola Salu and Public Relations Manager, GOtv, Efe Obiomah, during a press conference on the launch of new GOtv”Llite Small Pepper” in Lagos…recently kola olasupo

L-R: Managing Director, Lagos State Signage and Advertisement Agency (LASAA), Mr. Mobolaji Sanusi; President, Outdoor Advertising Association of Nigeria (OAAN), Mr. Tunde Adedoyin; Vice President, Emeka Ajufo and the Secretary, Mr. Femi Ogala, during a courtesy visit to OAAN secretariat by LASAA team, in Lagos....recently

L-R: Senior Brand Manager, Regal Dry Gin, Grand Oak Limited, Olufemi Falomo; Popular Fuji artist, Remi Aluko and Assistant Manager, Digital Marketing, Grand Oak Limited, Stanley Bolujoko during the visit of Aluko to the Company in Lagos...recently

Chief Executive Officer, Weco Systems, Mr. Obinna Ekwonwa (left) and Country Manager, Cisco Systems Nigeria Ltd, Mr. Kunle Oloruntimehin, during the official presentation of the award of architectural execellence of the year 2015 to Weco Systems by Cisco Systems…in Lagos... recently

R-L; The General-Secretary National Union Of Textile,Garment & Tailoring Workers of Nigeria [NUITGTWN], Comrade Issa Aremu; The National President,Comrade John Adaji and A Member of the Group Dr. Ishaku Aliyu during the visit of the study group One, Senior Executive Course [Sec] 38 Participants of the National Institute for policy and Strategic Studies [NPSS] Kuru,Jos to Textile Labour House in Kaduna...Recently idris egaji.

Kwara State Governor, Dr. Abdulfatah Ahmed (left) presenting a souvenir to Minister of Works, Power and Housing, Babatunde Raji Fashola,(SAN) during a courtesy visit to Government House,Ilorin…recently

23

WEDNESDAY, AUGUST 31, 2016, • T H I S D AY

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

BUSINESSWORLD NIBOR OVERNIGHT 1-MONTH

R A T E S

A S

NIBOR

18.1583% 16.4521%

3-MONTH 6-MONTH

17.7293% 20.2207%

A T

NITTY 1-MONTH 2-MONTH 3-MONTH

A U G U S T 114.4332% 15.1358% 115.2408%

6-MONTH 9-MONTH 12-MONTH

2 5 ,

2 0 1 6

17.5623% 19.28% 21.3438%

EXCHANGE RATE N314.95//1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes Pennwell Shifts OWA to June 2017

PennWell International, organisers of the annual Offshore West Africa Conference and Exhibition have shifted the next edition of the exhibitions from January to June 2017. In a statement at the weekend, the Managing Director of PennWell International, Mr. Glen Ensor attributed the postponement to “a number of factors, most pressingly the current economic climate facing the oil and gas industry”. “It is our belief that this change of date will enable our many loyal exhibitors, speakers, sponsors and attendees to benefit further from the event as these economic factors become more manageable,” he said. He added that “OffshoreWestAfricahasover the past years become the premier event for the oil and gas industry withintheWestAfricanregion,anditisouraimtofurtherestablishthis and improve upon previous editions for the benefit of all who attend”.

Ensoralsorevealedthatthe2017editionofOffshoreWestAfricahas been grantedTrade Fair Certification, enabling PennWell to organise an official United States Pavilion at the prestigious industry event.

CIBN Holds Conference

PUTTING HEADS TOGETHER

President Muhammad Buhari in a consultation with Group Chairman, FBN Holdings Plc, and Chairman of Honeywell Group, Oba Otudeko at the just concluded Japan Africa Trade and Development TICAD VI Dialogue with the Private Sector in Nairobi, Kenya…recently

Credit to Private Sector Rises to N21.425tn in Second Quarter Obinna Chima At N21.425trillion, banking system’s credit to the private sector grew by 13.5 per cent in the second quarter of 2016, compared the previous quarter.

The Central Bank of Nigeria (CBN) disclosed this in its second quarter 2016 economic report.

The development was due to the growth in claims on the core private sector. Over the level at end December 2015, banking system’s credit to the private sector grew by 14.5 per cent, compared with the growth of 0.9 per cent and 4.3 per cent recorded at the end of the preceding quarter and the

ECONOMY corresponding period of 2015, respectively Also, at N24.318 trillion, aggregate domestic credit (net) to the economy, on quarter-onquarter basis, grew by 7.3 per cent, compared with the growth of 4.9 per cent and 3.8 per cent at the end of the preceding quarter and the corresponding quarter of 2015, respectively.

The development, relative to the preceding quarter was attributed to the 13.5 per cent growth in claims on the private sector. Over the level at end of December 2015, net domestic credit rose by 12.5 per cent, compared with the

growth of 4.9 per cent at the end of the preceding quarter.

The development reflected the growth in claims on the private sector.

Similarly, the report showed that banking system’s credit (net) to the federal government fell by 23.5 per cent to N2.893 trillion, in contrast to the growth of 30.7 and 26.5 per cent at the end of the preceding quarter and the corresponding quarter of 2015, respectively.

The development was due to the fall in banks’ holding of government securities.

Relative to the level at the end of the preceding quarter, foreign assets (net) of the banking system, rose by 2.8 per cent

to N7.105 trillion at end-June 2016, in contrast to the decline of 1.8 per cent at the end of the preceding quarter. Furthermore, the development was attributed, largely, to the increase in foreign asset holdings of the banks, following the adoption of a flexible exchange rate regime.

“Over the level at end December 2015, foreign assets (net) rose by 25.7 per cent at end-June 2016, in contrast to the decline of 1.8 and 14.4 per cent at the end of the preceding quarter and the corresponding period of 2015, respectively,” it added.

At N1.685 trillion, currencyContinued on page 24

Shareholders Contemplate Court Action to Stop Unclaimed Dividends Fund Goddy Egene Determined to stop the Securities and Exchange Commission (SEC) from moving unclaimed dividends of 12 years to the proposed Nigerian Capital Market Development Fund (NCMDF), some shareholders are planning a court action, THISDAY checks have revealed.

The capital market apex regulator is planning to establish the NCMDF for dividends that have been unclaimed for 12 years and above. The Companies and Allied Matters Act (CAMA) provides that unclaimed dividends for 12 years are statute barred and are returned to the companies that paid the dividends.

CAPITAL MARKET However, SEC has proposed a new rule on application of 12 years and above unclaimed dividends.

“All companies and registrars shall not later than 30 days after the end of every calendar year forward to the Commission a report of unclaimed dividends in their custody, which shall specify compliance with Sub Rule (1) of this Rule. Companies shall disclose details of compliance with this Rule in their annual reports,” SEC said in the rule.

According to the commission in proposing the rule, it relied on provisions of Section 313(1)(n) of the Investments and Securities Act (ISA) 2007, which gives it

powers to make rules for the orderly governance of the capital market. Although some shareholders have kicked against the rule, investigations by THISDAY last Monday showed that the shareholders will resort to legal action should SEC decide to go ahead with the establishment of the NCMDF. “We have been impressed with other recent efforts made

by SEC to tackle the issue of unclaimed dividends in the market. But this new plan is not acceptable to us. We have registered our feelings with the commission. But if it goes ahead with the plan, we shall stop it in the law court,” the leader of shareholders’ group told THISDAY on Monday.

According to him, this is an unpopular move that has failed in the past, stressing that it will fail again. The National Coordinator, Independent Shareholders Association of Nigeria (ISAN), Sir Sunny Nwosu, had already said his group would resist the plan, which he described as “very offensive” attempt to take their private monies.

He said SEC and other regulators have sufficient funds and avenues to mobilise resources to perform their statutory roles of market development, noting that dividends belong to shareholders and the paying companies. Also, co-founder of Nigeria Shareholders Solidarity Continued on page 24

The Chartered Institute of Bankers of Nigeria (CIBN) has concluded arrangementstoholdits10thbankingandfinanceconferencebetween September 6th and 8th 2016. The conference is expected to hold in Abuja. According to a statement, the conference has become the flagship event of the Institute, hosted annually to provide a platform for all stakeholders: policy makers, regulators, operators and clients in the financial services industry to share experiences and exchange ideas on contemporary issues affecting the sector and the economy asawhole.Theconferencewiththetheme“InnovationintheFinancial Services Industry: Driving Nigeria’s New Economy,” it added, was deliberately designed to further support the financial industry with newandcurrentinitiativesandstrategies.PresidentMuhammaduBuhari willbetheguestofhonour,whiletheGovernor,CentralBankofNigeria, Mr. Godwin Emefiele will deliver the keynote address. Participants who are expected from all the sectors of the economy will have the opportunitytodeliberateonthekeysub-themesoftheconferencesuch as:toptenimportsandinnovativestrategiesforsubstitution;innovative financing structures for micro, small and medium scale enterprises; payments system and financial inclusion; and electronic commerce: roleindisruptingmoderntradeandchannels.ThePresident/Chairman ofCouncil,ProfessorSegunAjibola willbetheChiefHostattheevent.

African Quality Institute Holds Conference

African Quality Institute has concluded arrangements to host one of thebiggestawardceremonycumconferenceinNigeriawiththetheme, “Quality,a New Culture fora New Africa.This uniqueevent is slatedfor September 09, 2016 in Ikeja, Lagos. According to the convener of the eventDesmondEsorougwe,allorganisationsuseandneedqualityfor sustenance,growthandconsistency.Theeventwillcomeinthreesections, theconference,Exhibition,andanawardnight.Theconferencesection conference has its objective to provide a platform to re-enforce the growingrelationshipbetweenqualityinnovationandleadership.Focus area is quality, innovation and leadership. “The exhibition section is a professionaltradeshowthatfocusesonqualityproductsandservices in all organisations.The exhibition will give 360 degree top visibility to trends and innovations, with an opportunity for networking.

SkyeBankRaisesDailyCardSpendingLimit

As part of its efforts to enhance travellers’ holiday experience and make financial transactions seamless, Skye Bank Plc, has increased customers’ daily international spend limit from $100 to $300 on MasterCard debit cards and $500 daily and $3,000 monthly for Platinum Master Card debit card users. The upward review of the daily international spend limit on MasterCard is aimed at granting customers spending freedom and more purchasing choices while on holiday abroad. Skye Bank said in a statement that the positive development would not only provide convenience and comfort to its customers but will also ensure its customers on vacation or on a business trip outside the shores of the country do not easily run into difficulties on account of the limits of their financial transactions.

Skye Bank has won numerous awards through its investment in. deployment of best in class information technology solutions which have delivered more value and satisfaction to their customers.

“Governments alone does not have the capacity to provide the basic needs or employment for the millions of young Nigerians entering the job market every year”

Chairman, UBA Group and Founder of Tony Elumelu Foundation

Mr. Tony Elumelu

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WEDNESDAY, AUGUST 31, 2016, • T H I S D AY

BUSINESSWORLD CREDIT TO PRIVATE SECTOR RISES TO N21.425TN IN SECOND QUARTER in-circulation declined by seven per cent in the review quarter, compared with the decline of 2.5 per cent at the end of the preceding quarter. The development was due, largely, to the decline in vault cash.

Total deposits at the CBN amounted to N10.502 trillion, indicating an increase of 8.1 per cent relative to the level at the end of the preceding quarter.

The development reflected the significant increase in federal government deposits.

Of the total deposits at CBN, the shares of the federal government, banks and ‘Others’ were N5.021 trillion (47.8 per cent), N3,687 trillion (35.1per cent) and N1.794.trillion (17.1 per cent), respectively.

SHAREHOLDERS CONTEMPLATE COURT ACTION TO STOP UNCLAIMED DIVIDENDS FUND Association (NSSA), Alhaji Gbadebo Olatokunbo, said the plan would lead to corruption and discourage investors from the domestic market.

“Unclaimed dividends belong to shareholders who are the owners of companies and their going back to the companies after 12 years is legitimate. We respectfully call on the federal government to urgently call the regulatory agencies to order, before they add more damage to our already sick economy,” Olatokunbo said. However, President, Association for the Advancement of Rights of Nigerian Shareholders (AARNS), Dr. Faruk Umar, hailed the plan, saying it is a healthy development that would discourage sharp practices around the unclaimed dividends.

“The truth of the matter is that bulk of the unclaimed dividend that is more than 12 years belongs to people who are dead, multiple applicants who do not have bank account in their names, or small amounts of money that is not worth claiming. Someone that has not claimed his or her dividend in 12 years is unlikely to do so now.

Group Business Editor

Chika Amanze-Nwachuku

NEWS

CPC Demands Entrenchment of Guarantee, Warranty Policies Chika Amanze-Nwachuku The Consumer Protection Council (CPC) has berated businesses in Nigeria for their failure to live up to implied or specified guarantee and warranty for the products and services they offer.

The Council also observed that the success of the drive of the country to diversify its economy would hinge on the quality of products and the entrenchment of guarantee and warranty in the country’s business culture.

The Director-General, CPC, Mrs. Dupe Atoki, made the remarks yesterday at a meeting with key industry operators in automobile, electrical/electronics, heavy duty equipment, on-line markets and superstores subsectors of the nation’s economy in Lagos.

Atoki explained that the Council’s commitment towards the entrenchment of guarantee and warranty business culture was also to support government’s renewed drive to diversify the nation’s economy. The CPC DG expressed the regret that manufacturers and distributors had not only short-changed Nigerian consumers over time by their failure to honour their products or services’ implied guarantee or warranty, but had also abused consumer rights with ouster clauses, such as “no refund of money after payment,” and “goods received in good condition cannot be returned” on their receipts.

According to her, “Worse

still is the fact that even multinational corporations that adhere strictly to the tenets of implied or specified guarantee and warranty in other countries, come up with all sorts of devices in Nigeria to renege on same.”

While describing the situation as unacceptable, Atoki advised businesses operating in the country to emulate their counterparts in other climes where “the concept of guarantee and warranty is taken for granted because

manufacturers in those countries do not only strive to produce according to specifications, but also make after sales service an integral part of their marketing strategy.”

“As a result, businesses in such climes have clearly articulated policies on return, repair, replacement or refund of money for products which do not meet the expectation of consumers,” she added.

The director general observed that the almost non-existent after

sales service culture among businesses in Nigeria has denied Nigerian consumers of simple redress of their complaints without the intervention of the Council. According to her, “It is a common occurrence to see businesses invent reasons to justify why consumers should not derive the desired benefits from their purchases”, noting further that “it is disheartening, for instance, to see a consumer purchases a product, which should serve for a number of

years, but malfunctions after a few weeks, without any indication of support from the supplier.

She added: “In countries where consumer satisfaction is at the heart of business, such occurrences will trigger a spate of investigations to enable the producer unravel the real cause of the problem, with a view to forestalling same in future.

But here in Nigeria, save for evidence of purchase receipts, some companies will go as far as disowning the product.”

WELCOME TO OUR MIDST

L – R: Council Member, The Nigerian Stock Exchange (NSE), Mr. Dunama Stanley Balami; Chief Executive Officer, NSE, Oscar Onyema; Executive Director, Market Operations and Technology, NSE, Ade Bajomo; Head, Council Secretariat/Council Secretary, NSE, Adeola Mojisola; Head, Corporate Services Division, NSE, Bola Adeeko and Chairman, Association of Stockbroking Houses of Nigeria (ASHON), Emeka Madubuike at the Induction Ceremony for recently qualified dealing clerks at The Nigerian Stock Exchange today…recently

AfDB to Train 250,000 ‘Agripreneurs’ Dele Ogbodo in Abuja The President, Africa Development Bank (AfDB), Mr. Akinwumi Adeshina, said the bank has earmarked $12.5billon for the training of the next generation of agriculture entrepreneurs (Agripreneurs), in Nigeria and 24 other African countries before 2025.

The money, to be disbursed to 10,000 youths in each country through AfDB’s Empowering Novel AgricBusiness-Led Employment for Youth in African Agriculture (ENABLED Youth), is aimed at promoting youth entrepreneurship in agriculture and agro-business.

According to information

obtained Sunday night from the bank’s official website where resolutions from the just concluded Sasakawa symposium on contributing to social security and jobs through agriculture held at the 6th Tokyo international conference on African Development (TICAD VI) in Nairobi, Kenya.

Adeshina said: “Under the Programme, AfDB, will train the next generation of agriculture entrepreneurs, also referred to as ‘agripreneurs.

“The investment required under the ENABLE Youth program to provide 10,000 youth agribusinesses per country is US $0.5 billion, translating to about US $12.5

billion in 25 countries.”

He said if each enterprise creates five additional employees, this would amount to a minimum of 2.5 million and up to 5 million jobs created within the period.

According to him, governments in the continents can develop agro-business do this by developing agro-allied industrial zones and staple crop processing zones in rural areas.

Furthermore, he said: “The zones, supported with consolidated infrastructure, including roads, water, electricity, will drive down the cost of doing business for private food and agribusiness firms.”

Such zones, he noted,

would create markets for farmers, boosting economic opportunities in rural areas, stimulating jobs and attracting higher domestic and foreign investments into the rural areas, adding that they will turn the rural areas into zones of economic prosperity.

According to him, “Feed Africa”, one of the bank’s priorities, aims to transform African agriculture into a globally competitive, inclusive and business-oriented sector that creates wealth, generates gainful employment, improves quality of life and secures the environment.

The AfDB boss said: “The Feed Africa Strategy focuses on promoting given agricultural

commodity value chains along eight priority investment areas.

“Rice self-sufficiency; Cassava intensification; Food security in the Sahel; Transformation of the savannah; Revitalisation of tree plantation; Promotion of horticulture; Wheat in Africa; and Fish self-sufficiency.”

The Chairman of Nippon Foundation, Yohei Sasakawa, in the statement was lauded for contributing to the Sasakawa Africa Association’s (SAA) operations for 30 years as a core donor, also lauded the bank’s strategy, saying it was in line with SAA’s approach, which seeks to improve the livelihoods of smallholder farmers by helping them to diversify their activities to increase income.

AgriBusiness/Industry Editor

Experts Warn FG against Introduction of Genetically Modified Organisms Foods

Comms/e-Business Editor

Paul Obi in Abuja

Crusoe Osagie Emma Okonji

Capital Market Editor

Goddy Egene

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

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

Nume Ekeghe (Money Market) Nosa Alekhuogie (Capital Market)

The Association of Medical Laboratory Science Council of Nigeria (AMLSCN) yesterday cautioned the federal government against accepting the introduction of Genetically Modified Organisms (GMO) foods in the country as the consequences may affect the nation in the long run.

AMLSCN stated this on Monday at the end of the annual scientific conference in Abuja, stating that the effects of GMO could be severe on the nation’s health care

system.

In the communique signed

by AMLSCN Chairman, Ndubisi Ebitea; Secretary, Joseph David and PRO, Musa Wazani, the association cautioned against the GMO and its implications for Public Health and called on the Nigeria Government to build capacity of Medical Laboratory Scientists in the detection of GMO and the diagnosis of its impact.

It said: “GMO has its merits, but caution needs to be applied in its acceptability in a society like Nigeria con-

sidering our weak institutions and inadequate diagnostic infrastructure for detection of GMO related products, controlling and detecting the consequences of GMO in our society.”

The AMLSCN added: “it is, arguably, believed that GMO could be a solution in resolving world crisis of acute famine especially amongst developing nations.

“However, the long term adverse effects without research, is a source of major concern to the Association, since there has been very little

testing and research done on Genetically Modified foods and drugs in Nigeria. This makes many people feel uneasy at the high use of the foods and drugs containing GMO.” They contended that “some Genetically Modified products are modified using bacteria and viruses, thus there is the fear that there could be an emergence of new diseases, we therefore call on the government and other stakeholders to look critically into this issue of GMO and make provisions for further

research and studies for the benefit of mankind.”

The acting Chief Executive Officer of the Medical Laboratory Science Council of Nigeria (MLSCN) Dr. Irabor Tosan said the council has been positioned to tackle quackery in the profession, stressing that, culprits will soon be charged to court.

Tosan pledged that the MLSCN with its collaboration with the Federal Ministry of Justice, trial of quacks will be speedy and swift in order to discourage others in the illicit business.

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EQUITIES WATCH

Efficiency, Cost Containment Pay off for Access Bank Cost containment, efficient resource and risk management strategies guaranteed Access Bank impressive half year results, writes Goddy Egene dropped by 170 bps y/y reduction, reflecting the increase in our low cost funding base,” he said.

He added that notwithstanding the high inflation and the impact of the currency devaluation on cost, operating cost remained stable owing to the bank’s cost management initiatives.

“Optimising operational efficiency will remain an imperative for the second half of the year, as we continue to see the benefits of our cost initiatives intensify over the next few months.

We believe that macro conditions will remain challenging. Nonetheless, our priority in the coming months will be to strengthen our position in the industry; increasing focus on risk and operational efficiency, with customer-centricity at the heart of our strategy.”

The headwinds in the nation’s economy affected the performance of many companies during the half year ended June 30, 2016. From the Naira devaluation, scarcity of foreign exchange and rising inflation that hit 11 year high in June.

Results released so far by companies reflected the negative impact of challenges.

The banking sub-sector has not been left out of the weak H1 financial results as some of them recorded decline in bottom-line, while the performance of some remained flat. However, two banks, Guaranty Trust Bank Plc and Access Bank Plc announced improved bottom-line last week. The banks also delighted shareholders with the payment of an interim dividend of 25 kobo apiece.

But an analysis of the profitability of the two banks showed that GTBank got a boost from foreign exchange revaluation gains. On the other hand, Access Bank Plc reported improved profitability that was duly earned from its core business that indicates sustainability.

Revenue and Profitability Access Bank Plc ended the period with a revenue of N174 billion, showing an increase of three per cent, compared with N168.3 billion in the corresponding period of 2015.

Interest income rose by 14 per cent from N98.9 billion to N112.3 billion as a result of steady income growth from steady income growth from the Bank’s core business and a 14 per cent reduction in interest expense.

Also, strong growth in fee and commission income contributed to non-interest income of N61.7 billion which largely off-set the decline in trading income. Operating income grew by 11 per cent from N117.6 billion to N130.2 billion in 2015. Profit before tax rose by 28 per cent to N50 billion in 2016, from N39.1 billion in 2015, while profit after tax stood at N39.4 billion, up by 26 per cent from N31.1 billion in the corresponding period of 2015.

The Bank ended the period with a return on average equity (ROAE), which is above the inflation rate of 16… per cent.

Balance sheet A further analysis of the performance the results show that loans and advances rose by 29 per cent to N1.82 trillion at the end of H1, up from N1.41 trillion in December 2015. The devaluation of the naira accounted for 16 per cent of the loan growth, while core loan growth was 4.5 per cent. The brand, Access Bank was also attractive to customers as reflected in the customer deposits that grew by 17 per cent from N1.68 trillion in December 2015 to N1.97 trillion in June 2016. Total assets improved by 26 per cent to N3.27 trillion in June, up from N2.59 trillion in December 2015. The Bank closed the H1 with a stable capital position as capital adequacy ratio(CAR) stood at 19.6 per cent, weel above the regulatory minimum.

The asset quality of Access Bank was stable in H1, recording percentage of non-performing loans to total gross loans of 1.9 per cent, while coverage ratio(with regulatory risk reserve) stood at 223.6 per cent, up from 216.4 per cent as at December 2015. Impairment charges rose by 15 per cent from N8.9 billion to N10.2 billion, which is comparatively lower than the over 100 per cent recorded by some its peers. Cost of risk improved by 0.1 per cent from 1.2 per cent om H1 of 2015 to 1.1 per cent in 2016.

Management comments Commenting on the results, Group Managing Director/Chief Executive Officer of Access Bank, Mr. Herbert Wigwe said the bank’s performance continues to be resilient in the face of a challenging macro-economic environment, which has been further exacerbated by double-digit inflation, amidst an untimely devaluation.

“Despite these macro uncertainties, we delivered gross earnings of N174 billion, while pre-tax profits grew 28 per cent to N50 billion in the period. The results underscore our continued ability to grow sustainably whilst effectively adapting

Wigwe

to a challenging operating landscape,” he said.

Wigwe explained that the prevalent macroeconomic conditions put a strain on business performance across the industry, with increased concerns about asset quality deterioration.

“Despite these challenges, the bank’s asset quality remained stable, as non-performing loans remained below industry average, in line with

our guidance. Our capital and liquidity levels were also sustained above regulatory limits.

During the period, we grew our retail market share, leveraging innovation and technology to create lifestyle products and enhance customer experience. This growth has led to significant increase in our transaction volumes and feerelated income. In addition, our cost of funds

ACCESS BANK FINANCIAL SUMMARY 200

June 2016

June 2015

N174bn N168.3bn

150

June 2016

June 2015

N112.3bn N98.8bn

100 85 80 75

June 2016

June 2015

N69.93bn N69.64bn

70 65 60 55

June 2016

N50bn

50

June 2015

45

N39bn

40 35

June 2016

N39.5bn June 2015

N31.3bn

30 25 20 0

GROSS EARNINGS

INTEREST INCOME

OPERATING EXPENSES

PROFIT BEFORE TAX

PROFIT AFTER TAX

Supporting diversification The Bank recently affirmed its commitment to support the federal government’s economic diversification programme especially in agriculture and other non-oil sectors.

Access Bank has been in the forefront, partnering key stakeholders that are embarking on series of capital projects that are targeted at diversifying the economy, create employment opportunities.

The Access Bank is currently collaborating with the Lagos, Kebbi States governments and a Mexican farming conglomerate, San Carlos, a company that has the requisite experience and modern technology for processing and milling of rice in commercial quantity.

It is expected that this will boost to the government’s reforms agenda especially in agriculture and save Nigeria as much as $3 billion yearly by way of import substitution. The rice milling project has the capacity to process and mill twenty (20) tons of rice per hour.

Wigwe had said the project would help to boost the diversification of the Nigerian economy especially now that the Federal Government is working hard to develop other sectors of the economy as substitute to oil production.

He said: “We are supporting the rice milling project by Lagos and Kebbi States because of the potential benefits especially in promotion of food sufficiency, import substitution and foreign exchange earnings from exportation of the produce. We need to develop other economic sectors and be less dependent on oil as the sole foreign exchange earner for the country.”

Facilitating digital banking Determined to make its digital banking application fast, convenient and hassle-free, Access Bank Plc recently refreshed the revolutionary lifestyle solution, PayWithCapture to a more illimitable version.

The latest version, PayWithCapture 5.0, comes with additional features that enable customers to transfer funds from any bank account (one or more) to any bank account or phone number and email addresses.

PayWithCapture 5.0 has also expanded to the web for users to experience the many benefits on larger screens. It also offers a USSD service *901# that allows users to carry out most of the listed functions without the need to access the internet.

The Head of Digital Banking, Access Bank, Adeleke Adekoya said: “We heard about the issues and complaints our customers had on the old app. With this new version, we’ve tried to resolve them all. The latest version has extended beyond simply scanning QR-Codes to pay for transactions to allowing customers experience banking in a way that feels as personal as they want it to be. PayWithCapture 5.0 users can, still enjoy the success of QR code scanning for payments but with the added ability to make transfers to bank accounts, phone numbers and email addresses. Users can also set up a savings club through PayWithCapture. Savings Clubs, commonly known as Ajo or Esusu enable them save jointly with friends towards a common goal as the funds can be pooled and rotated among all members of the group or pooled and given to one person.”

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ANALYSIS

Nigeria’s Untapped Informal Sector Organising the informal sector and harnessing its massive potential will significantly contribute to Nigeria’s economic development, writes Obinna Chima Yakubu Mohammad is a tailor with an uncommon knack for fine fabrics. As a fashion designer, he has been able to carve out a niche for himself in African fashion. He is renowned for making some of the finest Danshiki, Kaftan, Babariga, and female Buba designs. Mohammed’s success story had its incubations from the Idi-Araba community, a suburb community in Lagos.

“The tailoring job kept me away from the streets and helped me to engage in something productive,”Mohammed said in a recent interview with THISDAY. Still, Mohammed is worried that there is no support from the state government. Having spent four years in the business, he lamented that it is faced with a litany of challenges which, though, are not alien to other small scale businesses in the country.

But his love for the business has kept him going.“Funding is a major issue in the business.

It prevents us from buying materials needed to do our job and power our generators. There is very little you can achieve in this job without constant power. Therefore, we are compelled to fuel our generators on a daily basis,” he said.

Away from Mohammed, inside the Yaba market where fairly used wears are sold, a wooden staircase takes you to a room that houses over 30 tailors.

Throughout the time THISDAY spent carrying out this observation, the men and women in this room where seen busy with heaps of clothes they respectively had to amend. One of the operators who simply identified himself as Jideofor called for support from government for him to expand his business.

Unfortunately, Jideofor has no bank account and as such is excluded from the financial system.

In the stories of Mohammed, Jideofor, the tailors in that room at Yaba as well as so many artisans scattered all over the country lays the opportunities in the country’s untapped opportunities in the country’s informal sector.

With the rising level of unemployment in the formal sector, the number of those seeking for opportunities in the informal sector has continued to swell.

The youth unemployment in rate of 21.50 per cent in the first quarter of 2016, compared with 19 per cent in the fourth quarter of 2015, released by the National Bureau for Statistics (NBS), in a country with an estimated population of 180 million, is as scary. Youth unemployment rate in Nigeria averaged 16.43 per cent from 2014 until 2016 and reached an all-time in the first quarter of 2016.

It is even more worrisome because the figure is bound to increase in the current year with tertiary institutions set to churn out a fresh batch of job seekers, alongside the recorded high level of job losses across all sectors.

The sector, which is also referred to as ‘grey economy’ is the part of an economy that is neither taxed, nor monitored by any form of government.

Unlike the formal economy, activities of the informal economy are not included in the gross national product (GNP) and GDP of a country.

The informal sector generally is characterised by absence of official protection and recognition, non-coverage by minimum wage legislation and social security system, predominance of ownaccount and self-employment work, absence of trade union organisation, low income and wages, little job security as well as the absence of fringe benefits from institutional sources.

The informal sector represents an important part of the economy, and particularly of the labour market, in many countries, especially developing countries, and plays a major role in employment creation, production and income generation.

The acting Managing Director/Chief Executive, NEXIM Bank, Mr. Bashir Wali recently described Nigeria as a blessed country with huge untapped resources in the non-oil sector, just as he cited an NBS report which put the total value of the country’s non-oil earnings in 2015 at $5.9 billion, with an average of $6.18 billion over the past five years. However, the NEXIM boss pointed out that in terms of informal trade, the amount ranges between $12 billion and $14 billion annually.

Indeed, in countries with high rates of population growth or urbanisation like Nigeria, the informal sector tends to absorb most of the growing labour

Wood workers

Food seller

force in the urban areas. Informal sector employment is a necessary survival strategy in countries that lack social safety nets such as unemployment insurance, or where wages and pensions are too low to cover the cost of living.

According to the Africa Development Bank (AfDB), the prominence of the informal sector stems from the opportunities it offers to the most vulnerable populations such as the poorest, women and youth.

Even though the informal sector is an opportunity for generating reasonable incomes for many people, most informal workers are without secure income, employments benefits and social protection, the multilateral institution noted.

This explains why informality often overlaps with poverty. For instance, in countries where informality is decreasing, the number of working poor is also decreasing and vice versa.

The informal economy is often associated with increasing poverty and weak employment conditions. According to the African Development Bank, middle-income countries have smaller informal sectors but higher unemployment rates than the poorest countries. By investing through informal channels, African entrepreneurs seek to reduce

costs related to wages, retirement pensions and other social benefits.

Beyond poverty and social issues, the prevalence of informal activities is closely related to an environment characterised by weaknesses in three institutional areas, namely taxation, regulation and private property rights.

Higher taxes and complicated fiscal process may prevent informal sector operators from formalising their activities. Long requirements for registration as well as licensing and inspection requirements are also barriers faced by the informal sector.

Moreover, limited access to capital is an important constraint for operators working in the informal sector. Lack of skills, education and training are also impediments to the formal sector in Africa. Other factors include the limited access to technology and poor infrastructure. Furthermore, the informal sector doesn’t seem to be on the development agenda of African countries or their multilateral development partners.

Informal Sector as Catalyst for Economy Considering Nigeria’s present economic situation, a report by the Chatham House, the Royal Institute of International Affairs, recently stressed

the need for reforms by government that could encourage millions of businesses in the nation’s informal sector to move into the formal sector.

This, according to the report would provide clear opportunity for diverse business growth in Nigeria and also ensure greater regional self-sufficiency in areas such as grains and cotton textiles in West Africa.

Clearly, the London-based independent policy institute, in the 62-page report titled: “Nigeria’s Booming Borders -The Drivers and Consequences of Unrecorded Trade,” revealed that despite the size of Nigeria’s Gross Domestic Product (GDP), estimated at $510 billion, vast external trade in the country remains largely informal, unrecorded and untaxed. This, it stressed leaves much of the country’s economic potential unrealised.

It pointed out that a substantial proportion of Nigeria’s cross-border trade currently flows through informal channels, adding that there are strong indications that unrecorded flows through the key economic corridors between Nigeria and its neighbours are several times greater in volume than the amount of trade that is officially reported.

This, it noted, also reflected the scale of domestic informal business within Nigeria, just as it estimated

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that unrecorded or informal activity could account for as much as 64 per cent of Nigeria’s GDP. “There is a temptation to view informal trade as a marginal, grassroots cultural phenomenon, a throwback from a traditional way of life before national boundaries were drawn, or as something quite detached from the realm of formal trade relations. Such perceptions are reinforced by the apparent vibrancy of day-to-day economic life.

Trucks line up at official border crossings and bump over muddy back-roads, motorbikes stutter along laden with fuel tanks, barges slip through coastal creeks, and battered cars with raised axles weighed down by sacks of grain or cement trundle along border tracks.

“In crowded city markets and remote villages, across Lagos and the animated streets of Kano, and all along Nigeria’s 4,047 km of land borders, deals are done and goods and money change hands. But this bustling - and growing - resourcefulness needs to be firmly interpreted within the context of the economic challenges confronting Nigeria today.

“Given the country’s current sobering economic outlook, this critical perspective is even more urgent.

Reduced revenues from crude oil, Nigeria’s main export and the source of 80-90 per cent of its government’s foreign-exchange earnings, have once again put the country under pressure to insulate itself better from the perennial cycles of oil-market boom and bust and improve the socio-economic stability of the country,” it explained.

Furthermore, the report stated that deeper understanding of the unrecorded side of Nigeria’s non-oil external trade would be the key to the process, saying that it could offer the government a critical opportunity to pursue a path of economic growth that is less volatile and more sustainable.

While urging Nigeria’s federal government to recognise the dynamic informal business community as a fundamentally positive national asset, it pointed out that only when such recognition manifests itself in the implementation of reform will it be truly meaningful.

Specifically, it called on the government to view its taxi drivers, wholesale and retail marketers and distributors, private educators, hairdressers, mobile phone card vendors, transporters and shop owners as economic partners who can help to build growth, prosperity and employment prospects. The Nigerian government must also be realistic and transparent about the drivers of informal activity, it also stated.

It added: “Nigeria cannot seal its borders; nor can it abolish West Africa’s parallel currency market. If the conditions for trading formally are too difficult or expensive, business people will simply move their goods by informal routes instead. If small traders cannot make or receive cross-border payments easily and cheaply through the officially regulated financial system, they will simply turn to the unregulated parallel market.

They cannot be stopped from doing so.

“The prevailing socio-economic conditions offer a critical opportunity to create incentives for pursuing less volatile, more sustainable economic growth. This level of opacity presents serious policy challenges for Nigeria as the government finds itself grappling with reduced revenues

ANALYSIS

Minister of Finance, Kemi Adeosun

in the wake of the decline in global crude oil prices - down by about 60 per cent since June 2014 - and the weakening of the local currency, the naira.

“The prevailing socio-economic conditions offer a critical opportunity to create incentives for pursuing less volatile, more sustainable economic growth. But Nigeria’s capacity to design policies and strategies to boost its economy, and specifically to promote development of the non-oil sectors, is hindered by the absence of balanced and reliable information on the pattern, scale and impacts of unrecorded economic activity.”

It also noted that the prevalence of a large informal sector has several main interrelated consequences for the Nigerian economy. It highlighted some of the consequences to include the loss of government revenue from taxes, customs duties and tariffs.

“The second is that Nigeria’s previous overreliance on oil revenue has left a legacy of failure by successive governments to understand and develop the non-oil tax base and thereby diversify the economy. The lack of government focus on the development of non-hydrocarbons activity has been accompanied by a burgeoning volume of unrecorded non-oil trade.

“Yet despite the resilience of the non-oil sector, periods of political and economic uncertainty have exposed its fragilities - and the limitations associated with developing on an informal basis without the support of government economic strategy or public services. Although unofficial trade has grown even during episodes of economic crisis, this cannot mask underlying weaknesses in the functioning of the economy, its supporting services, and the operation of public administration and

border management,” it added.

Option of Micro-Insurance The National Pension Commission (PenCom) has said it is working on modalities to extend coverage towards capturing the informal sector in its scheme. Micro-pension is a financial programme for the provision of pension services to informal sector operators and workers. The programme has been successful in India, Kenya, Ghana and other countries.

The Director-General of PenCom, Mrs. Chinelo Anohu-Amazu said the commission has set up a micro-pension department to cater to the needs of operators in the informal sector.

“Part of the work we are doing now is direct active engagement of even the semi-formalised informal sector. It is a whole gamut. From the entertainment industry to the casual works, we are engaging them all.

“We are working with the hairdressers, the union of transport workers, the tailors and a whole set of those who employ themselves. The reason for this is to gather accurate data, hear them, examine and analyse their livelihood, because that would inform the regulation we would issue, to make compliance easier,” Anohu-Amazu said.

She said robust technology system was being work on to ensure smooth operation of the scheme, adding that Pencom has decided to run a pilot phase of the proposed scheme.

Harnessing Opportunities To Dr. Kim Bettcher of the Center for International Private Enterprise (CIPE), informal businesses account for 35-50 per cent of GDP in a lot of developing countries. According to him, the sector contains

both entrepreneurial spirit and the struggle for subsistence in any nation.

He argued that the solution is neither to encourage nor suppress informal economic activity, but rather to facilitate the transition of informal businesses to the formal sector and reduce barriers for all businesses(formal and informal).

“Opening routes to formality creates new opportunities for the poor to realise their potential and raise national competitiveness. Acquiring formal status allows entrepreneurs to access formal markets, invest with security, obtain new sources of credit, and defend their rights.

“An effective route to formality, however, requires more than registration and enforcement.

It requires the tearing down of barriers at the origin of informality to improve the business climate for all entrepreneurs. Lowering barriers increases business opportunities while facilitating compliance.

“Simply put, informal entrepreneurs have tremendous potential, but in order for them to realise that potential they must be allowed to make the shift into the modern market economy. This will give the same opportunities to all entrepreneurs and create higher-quality new jobs,” he wrote in a report. On his part, Boston, the Senior Partner and Managing Director, Boston Consulting Group ( BCG), a professional services firm which recently opened its Lagos office, Mr. Luis Gravito, stressed that Nigeria has a huge informal sector whose opportunities remain unexploited .

“There is a very big informal sector in Nigeria and harnessing the opportunities and making sure that they (informal sector) become part of the mainstream economy is also very important.

At least, from the point of view of very shortterm objectives, this includes the need to enlarge the country’s revenue base which would definitely add value to the Nigerian economy.

“Secondly, once the informal sector becomes part of the formal sector, it enhances the country’s capabilities of also exporting and diversifies the sources of foreign exchange earnings,” he added.

Also, the President, Chartered Institute of Bankers of Nigeria (CIBN), Prof. Segun Ajibola, said formalising the informal sector would help promote financial inclusion, allow for effective transmission of monetary policy as well as boost government’s revenue generation capacity.

“The financial inclusion programme is to make operators in the informal sector to be able to access the financial system and also enables them to be able to access some of the intervention funds in the country.

“The reason why microfinance banks were set up was to help those who are in the informal sector to also have access to funding and necessary support to operate. You know there rules and regulations in this country that also encourage co-operatives society. If properly structured, those in the informal sector can take advantage of the opportunities to access certain facilities.

“We also need to still study the kind of models they have in countries such as Malaysia, Singapore, Indonesia, South Korea and even India, where operators in the informal sector are contributing significantly to the GDP of their nations. So, we need to study how they have operated their models successfully to make impact in their economies,” the CIBN president added. But the Chief Executive Officer of Proshare Nigeria Limited, Mr. Femi Awoyemi, held the belief that over 75 per cent of Nigeria’s population operate in the informal sector. According to him, corruption has also been a major source of funding for the informal sector. Awoyemi said: “Whenever we draw our budget and we don’t take that sector into consideration, then we are missing the point. Formalising the informal sector is not just what government needs to do, it is the only thing they need to do because that is almost the whole economy of Nigeria we are talking about.

“So, if government does not have plan for people in the informal sector, then they have a serious problem on their hands. The money they ought to spend on the sector might have to be spent on increased policing and security.”

The Director-General of the Nigeria Employers Consultative Association (NECA), Segun Oshinowo had said the informal sector remains key to the promotion of social economic development of Nigeria.

According to him, if the country desires to reduce poverty, it is important for it to address the basic policy option available to tackle the problem.

“As you well know, over 90 per cent of Nigeria operates in the informal sector. If we are to reduce poverty in Nigeria, it is extremely important that we address the basic policy option by encouraging transition of enterprises and workers from the informal to formal sector,” he said.

He decried the challenge of building up institution and evolving policies that would promote the formalisation of the informal sector in the country.

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INSURANCE

‘Contributory Pension Scheme Still Battling with Acceptability Problem’ Ebere Nwoji The Contributory Pension Scheme (CPS), after 12 years of experimentation in Nigeria, is still battling with tripple problems of acceptability, transition and how to harness the opportunities in the informal sector and the economy in general.

Pension industry expert and Managing Director IEI- Anchor Pension Managers Limited, Glory Etaduovie, who made this remark at the annual general meeting of the National Association of Insurance and Pension Correspondents (NAIPCO), held in Lagos, said the scheme up till date, still has acceptability problem because

some persons who are familiar with the old scheme and its workings are yet to come to terms with the CPS. “Such ones, if in good position stand in the way of implementation of the CPS”, he observed.

He said the transition challenge was from states because of the old scheme and backlogs.

“In other instances, the bureaucracy of domesticating the PRA in the states and poor business environment is also affecting private sector adoption and implementation.

Some who do, do not remit the staff deductions nor theirs as well. This is immoral and they risk penalty from the regulatory body”, Etaduovie stated.

He however said the above challenges and others are constantly being reviewed by the industry, as he noted that the Director General of the National Pension Commission ( PenCom) and her team are keeping close eyes on details, as the industry matures.

Speaking on his company IEI Anchor Pensions, which stands as one of the fast growing pension managers in Nigeria, Etaduovie said the company’s asset under management now stands at about N55 billion.

He explained that this was made possible through the effort of the company’s management and staff team that are zealous to work.

On the company’s growth plans, Etaduovie said,“Investment wise, the regulator plays a key role. We have major investment guidelines. This ensures relative fund safety. This is the future of many people. So, there is no room for un-necessary adventure”.

He said the current investment market presents good opportunities and initiatives for managers adding that it is made up of a good blend of Bonds, Treasury Bills, Money market and other safe investments. He added that Private Equity and Infrastructure development are new areas of gradual action for the sector.

The IEI- Anchor Pension boss, said his company, which cur-

rently has over 90,000 retirees in its account also plans to increase the number of Retiree’s Saving Accounts (RSAs) in the nearest future explaining that this can be done through the use of effective delineation, deployment of marketing philosophy, drilling down marketing tools to promote presence and efficiency, good staff motivation and a sense of security. “We have good presence in many states. The market presently has two major strata - private and public sectors. The public sector includes the states and federal. Not many states have keyed into the Contributory Pension scheme, though we are also positioning ourselves

in areas with strong potentials, our RSA client size is over ninety thousand contributors,”he added.

In terms of competition with bigger Pension fund administrators,(PFAs), the IEI- Anchor Pension boss said there is no time competition even among equals has been a child’s play. He said this has led his company to deeper soul searching.

“One thing stands out; the customer remains the ultimate and determinant of direction.

Our size makes us smartly responsive. This is one advantage we wield. Everyone gets deserved attention. This we pursue to achieve through training and retraining of staff.”

Great Nigeria Insurance Pays N0.7bn Claims Great Nigeria Insurance Plc, a composite underwriting firm with branches in different parts of the country has said it paid a total of N0.7 billion claims to its clients between January and June 2016.

The company said in a statement made available to THISDAY that the above claims emanated from both life and general business under its portfolio.

The Chief Technical Officer of the company, Mr. Folusho Alliyu, said a breakdown of this shows that claims from General Business accounted for over 19% of the figure, while claims from life insurance business, constituted about 80% of the total claims settled within the period under review.

Alliyu, said the company’s affirmed commitment towards claims settlement, is the reason for its continued existence adding that management regards claims settlement as obligation to the insured. “Prompt claims settlement is not just an attribute but a culture that has been adopted by all personnel in Great Nigeria Insurance Plc; we do not intend to fall short of this obligation and we will continually strive to make good our promise of

exceptional service delivery at every point in time”.

He encouraged Nigerians to imbibe Insurance culture as a vital part of their daily existence.

Also speaking, Managing Director/CEO, of Great Nigeria Insurance Plc, Mrs. Cecilia O. Osipitan said that insurance works on the promise to pay compensation for any insured in the course of any eventuality.

She urged all policy holders to ensure immediate report of any loss experienced to the company to facilitate prompt settlement. She further added that Great Nigeria Insurance Plc has overtime upgraded its processes and information technology infrastructure having realised that improved real time and cutting-edge technology in pushing the frontiers of its operations cannot be undermined.

Mrs. Osipitan, stated that the company has put in place a responsive claim process which ensures that customers do not go through any stress in getting their claims settled.

“The processes involved from the moment a claim is reported to the period the customer receives the cheque have been made as seamless as possible”.

AIICO Pensions Marks 10th Year Anniversary AIICO Pension Managers Limited (APML), a subsidiary of AIICO Insurance Plc, recently celebrated its 10th anniversary with a determination to fulfill its vision to be the most efficient customer-focused organisation in the Pension industry.

The company, also at the event unveiled what it tagged: ‘a brand ambassador’ as well as launched its Corporate Social Responsibility project.

APML, which was licensed by the National Pension Commission in April 2006, commenced operations in May of the same year, with a vision to be the most efficient

customer-focused organisation in the Pension industry has since inception, continued to add value to the growing Pension industry through its various public enlightenment programmes aimed at sensitising the general public to the need for Nigerian workers to commence a pension plan from their first day of employment, in order to live a good life in retirement.

The company, recently, made a giant stride in pursuit of its vision realisation by signing a partnership deal with Ms. Joke Silva, an actress, producer and TV personality, as a Brand Ambassador.

COURTESY VISIT

L-R: Partner, Ladi Smith, Managing Partner, Ituah Ighodalo, Chairman, Robert Ade-Odiachi, ICAN President, Titus Soetan at the ICAN President Courtesy visit to SIAO Partners ...recently

ARFESPON Urges FG to Pay Outstanding Pension Benefits The Association of Retired Senior Public Officers of Nigeria (ARFESPON), has urged the federal government to pay to its members all outstanding pension benefits and erase every disparity in payment of pension benefits between its members and their serving counterparts.

ARFESPON, made up of retired management level officers from salary grade level 14 to permanent secretaries, comptrollers- Generals of Customs, Immigration and Prisons and Career Ambassadors, said currently, government is owing its members 30months arrears of benefits from the 53.4 percent salary increase it effected on federal public workers in 2010 which by the stipulations of the law of the federation should be effected on the retirement benefits of pensioners.

The President, Lagos State Chapter of the association, Mr. Olufemi Odewabi, making this demand from government on behalf of ARFESPON members

in a brief interview with THISDAY in Lagos, said government was yet to listen to yearnings of the retired senior public officers in which they have been pleading with government to totally effect the 2010 increase in their pension benefits and to end the era of disparity in the payment of retirement benefits to pensioners.

He noted that the federal government, during the regime of Goodluck Jonathan, effected 53.4 percent increase in the salaries of public office workers and failed to do the same to pensioners.

He quoted section 173, sub section 3 of the constitution of Nigeria on this which states that “pension shall be reviewed every five years or together with any federal civil service salary reviews whichever is earlier”.

Odewabi, said when his association reacted to government’s non compliance with the above section of the law regarding the increase it made

in the salaries of its workers in 2010, government set up a committee to review their case but the committee went contrary to the position of the constitution on the issue and recommended for 33 percent increase for the pensioners against 53.4 percent effected on federal workers’ salaries.

He said this left the pensioners with a short change of 20.4 percent.

He lamented that even the 33 percent increase recommended by the committee, government has been paying them install mentally with the result that as at today, government is still owing his members 30 months arrears of the 2010 33 percent increase it made.

Odewabi, on behalf of the ARFESPON members, appealed to President Muhammadu Buhari,to clear the 30 months arrears, pay up the sum total of the 20.4 percent deducted by the committee.

He said his members were right in their demand for the

20.4 percent deductions because all the reasons given by the committee for the deductions were wrong.

He said the tax percent deducted by the committee was against section173, subsection 4 of the constitution of Nigeria which states that pensioners in respect of service in the public service of the federation shall not be taxed.

He said the percent deducted for contributory Pension Scheme was wrong because all his members are under the Defined Benefit old scheme and has nothing to do with Contributory scheme.

The Federal housing scheme, for which the committee deducted 2.5 percent, according to him,should not be because his members are no longer under the housing scheme.

Describing the deductions as illegal, Odewabi urged president Buhari to listen to his members cries and pay both the outstanding 30 months and the 20.4 percent deductions.

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BUSINESSWORLD

ANALYSIS

NEMA on the Radar of Silent Achievements

Amidst despondency and despair, the National Emergency Management Agency is doing its best to bring succour and hope to Nigerians, writes Dahiru Hassan Kera The cardinal objectives of many government ministries, departments, agencies and other parastatals is to provide the most needed services as it’s being enshrined in the Nigerian constitution and other relevant civil service rules and regulations as obtainable. There are certain peculiarities and exceptionalities in operation within various organizations which is equally centered on achieving the desired and set objectives.

While some may find it easy and fun handling their designated task, to some it wasn’t that easy because it involves sacrifices, courage and risk taking to execute their assignments and render the needed services beyond office comports. The Nigerian military, police, security and civil defence corps, state security service and other sister security agencies were the notable organizations where sacrifices has to be made for the general well-being and peaceful coexistence of the Nigerian nation. But there are silent organizations that have been putting in their best to bring succor, relieve and hope to Nigerians amidst despondency and despair; National Emergency Management Agency (NEMA) is without doubt fall into this category.

Apparently, Nigeria has witnessed a series of environmental and climatic disasters, communal and sectarian clashes and above all the dreaded and horrendous Boko Haram menace where thousands of lives were lost, properties worth’s billion of naira destroyed and pathetically millions of innocent people were equally displaced from their homes

especially in the north eastern region of Maiduguri, Yobe, Adamawa, Gombe, Bauchi and Taraba where a good number of hunger striking Internally Displaced Persons were camped under the supervision of National Emergency Management Agency (NEMA) and its ever resilient, pertinacious and dogged Director General, Mohammed Sani Sidi whom ever since he assumed the leadership of the organization, he has restlessly transverse all the nooks and crannies of affected states despites the security challenges risen from the perceived ambush attacks and buried landmines by the militants.

On the other hand, there was flooding in virtually all geopolitical zones of the country which left hundreds of thousands homeless in their wake, houses, farmlands, barnyards, residential estates, and commercial plazas submerged while the affected people depends on NEMA for their shelter and feedings.

National Emergency Management Agency under the visionary leadership of Sani Sidi has spared no effort in tackling the aforementioned emergencies wherever and whenever they occur and through painstaking and meticulous management of the lean resources by formulating way to ensure that the limited resource at his disposal are well utilized for the benefit and welfare of millions of IDPs under his agency’s care and tutelage. Whenever those disasters occur, NEMA is the first agency to be called to action and at short notice.

Since the broke of the Boko Haram crisis

that climaxed between 2013 to 2015 there has been occupation of communities by the insurgence, destruction of public and private infrastructures, destruction of means of livelihood, drastic decline in socio-economic activities and displacement of many persons including women and children. There is about 159,445 IDPs in Adamawa, 63,148 in Bauchi, 27,376 in Gombe, 46,942 in Taraba and 112,671 in Yobe states respective. NEMA through its well-designed programmes and collaboration with Borno State government and establishment of humanitarian Cells in Maiduguri and Sub-cells in Adamawa and Damaturu to create access for aid workers who provide assistance to the increasing number of IDPs living in formal camps, self-settled Centres, satellite camps and host communities was able to recently distributed the relieve materials that include; 187,141 bags of rice, 105,350 bags of maize, 37,670 bags of millet, 43,840 bags of guinea corn, 46,094 bags of beans, 9,015 bags of gari, 10,630 bags of salt and 37,165 bags of sugar while other supplements and condiments were also distributed.

Equally, NEMA has set up an operations office in Gombe to cater for displaced persons taking refuge in Bauchi, Gombe and Taraba States, which hitherto were handled by the North East Zonal office located in far Maiduguri and staffs were also deployed from the NEMA headquarters to Maiduguri humanitarian, Damaturu and Yola Sub-cells respectively. Being occupied with multiple responsibilities, NEMA has also received

Nigerian returnees from the republic of Niger; Chad and Cameroon where about 16,595 and 13,046 persons were received through Sahuda border crossing near Mubi in Adamawa and at Geidam in Yobe state respectively.

Apart from feedings, clothing, building materials and drugs were also been factored in the NEMA’s interventions. In an unrepentant efforts to cater for the treatment of victims of insurgency, the following hospitals were earmarked; specialist hospital Yola, Abubakar Tafawa Balewa University Teaching Hospital Bauchi, Nursing Home Maiduguri, Federal Medical Centre Gombe, General Hospital Potiskum and Neuro Psychiatric Hospital Maiduguri where thousands of victim have received treatment while a sizeable number of affected victims are still receiving medical attention in the various hospitals coupled with the deployment of medical assets, medical team, equipment such as two mobile Intensive Care Units and revolving funds domiciled at the major hospitals in Maiduguri and Yola.

Finally, with these and many others achievements in tube line of the NEMA’s humanitarian, relieve and rescue services under Sani Sidi, the agency, its committed and hardworking staffs and many other donor agencies has done a lots to alleviate the sufferings of the affected persons in the various Internally Displaced Person’s Camps and those laying in the hospitals.

Kera wrote from Abuja

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BUSINESSWORLD

NEWS

FBN Merchant Bank Supports Community and Youth Devt Goddy Egene

FBN Merchant Bank Limited, a subsidiary of the FBN Holdings Plc, recently delivered the ‘Pick-ALitter’ environmental sustainability initiative in collaboration with the Eti-Osa Youth Development Initiative (EYDI) in line with its commitment to promote youth and community development.

The event, which was anchored

by Mr. Ayodeji Laurent of EYDI and staff of the Bank, involved the delivery of a series of activities to

mobilise, educate and promote environmental cleanliness within the Ikoyi-Obalende environs, commencing with a three-day sensitisation and capacity building workshop for the Ikoyi-Obalende Local Council Development Areas(LCDAs). Representatives from the Ikoyi-ObalendeLCDAs were also present to speak on environmental hygiene, recycling, health and nutrition, thereby educating residents on the health impact of a safe and clean environment.

According to Head of Marketing & Corporate Communications for FBN Merchant Bank, Lolade Sasore, “Our support for the ‘Pick-A-Litter’ initiative clearly aligns with our group corporate responsibility & sustainability focus on community support. We will continue to encourage the neighboring youths to contribute to development, while remaining confident that partnering with EYDI within our own community will drive this positive change. The Initiative is expected to drive a

long-term solution, as it is critical to sustaining our community and environment,” she added.

While presenting cleaning tools to EYDI at a handover ceremony, the Executive Director of FBN Merchant Bank, Mr. Gboyega Fatoki said: “We are delighted to partner with EYDI on the ‘PickA-Litter’ initiative, as a bank and as part of a group that believes in enhancing the our community and immediate environment.”

In his acceptance speech, the President of EYDI, Laurent

thanked FBN Merchant Bank for its support and partnership that helped actualise the maiden edition of the ‘Pick-A-Litter’ initiative.“We are grateful for the encouragement and hands-on support from the team at FBN Merchant Bank. The ‘Pick-A-Litter’ initiative was conceived as an environmental cleanup initiative geared towards sensitizing individuals within our community on environmental hygiene. We are proud and excited to have actualized a successful maiden

edition and are optimistic about delivering more events in future,” he said. The EYDI is a community based Non-Governmental Organisation (NGO) powered by voluntary efforts, which is focused on health, education, sports, empowerment and the environment. FBN Merchant Bank handed over cleaning tools to EYDI to facilitate an ongoing community cleaning exercise in the three council development areas within Ikoyi-Obalende (East, West and Central).

Arla Foods, FG Sign MoU on Dairy Sector in Nigeria Arla Foods, maker of Dano milk and one of the world’s largest dairy cooperatives, has signed a Memorandum of Understanding (MoU) with the Federal Government of Nigeria through the Ministry of Agriculture and Rural Development to provide enabling organisational structure and trainings that will facilitate the development of the dairy industry in Nigeria.

The MoU was signed recently in Abuja in a move that reaffirms Arla’s commitment to support the Nigerian government with the development of the local dairy sector in Nigeria.

Speaking at the signing ceremony, Nigeria’s Minister of Agriculture and Rural Development, Chief Audu Ogbeh, said the MoU was a signage for Nigeria’s critical need to develop the dairy industry, not just as a business but as a development programme. The Minister welcomed objectives of the MoU, including support from European Union (EU), knowledge-transfer, partnership with farmers and technical training programmes.

“What you are doing excites me a lot because Nigeria is at a critical time in its development.

The population is growing extremely fast. We have a large number of children malnourished, almost 27 per cent. We have a school feeding programme and dream of a day when every child should have sufficient meals per day.

From the cattle breeding improvement programme, we are looking at a near future when a family in the city outskirts can keep poverty away with three or four cows. The Nigerian dairy market is huge, with about 450 million consumers by 2050. Nigeria also has its eyes on feeding West, North and Central Africa. As soon as this MoU is signed, we expect you to go on with the joint ventures and partnerships,” the honourable minister said.

Speaking in the same vein, the Regional Office Director for Sub-Saharan Africa, Arla Foods, Mr. Steen Hadsbjerg, said the partnership will open a new window of job opportunities, increase in wealth creation for farmers and expansion of investment opportunities.

“Nigeria is one of the biggest

markets for dairy products in Africa. For Arla to succeed in Africa, we must succeed in Nigeria. The population is growing, and people are young, ambitious and increasingly well-educated. By consummating this partnership today, we have taken another step to ensure that Arla Foods not only become a household name in Nigeria, but also work to create employment, improve return on investment for farmers and expand investment opportunities,” he said.

Hadsbjerg also revealed that the partnership with the Federal Ministry Agriculture and Rural Development (FMARD) will promote and strengthen the emergence of a dairy cooperative system in Nigeria thereby giving farmers a strong voice and ensuring efficient distribution of knowledge.

The MoU empowers Arla Foods to create incentives for nomadic herders to develop cooperative dairy businesses through the provision of workable organisational structure and training, as well as promoting and strengthening dairy cooperatives in Nigeria by improving their capabilities to be competitive on price and quality as well as gaining a larger share of the local dairy market. Other areas of improvement the partnership will focus upon include capabilities for qualitative product development and go-to-market abilities.

Also, the partnership agreement see Arla work with partners in Nigeria to develop a sustainable dairy sector; use competencies on the cooperative model and farm management to increase yield per cow, support increased yield per cow through facilitation of genetic improvement program and feed improvement program, provide technical training to 200 professionals and smallholder dairy farmers every year to improve milk quality and product quality and partner with Ministry of Agriculture and farmers’ organisations and other relevant stakeholders to promote and strengthen the dairy cooperative system in Nigeria thereby giving farmers a strong voice and ensuring efficient distribution of knowledge.

STRATEGISING TO BOOST OIL PRODUCTION

L-R: Director, Business Development, Secol-USA, Mr. Forum Doubara; MD, Platform Petroleum Ltd, Osa Owieadolor; GMD, Platform Petroleum Holdings Ltd, Mr. Konyebagu Opute; and Chief Executive, Energy & Corporate Africa, Mr. Sunny Oputa at 2nd Africa Small & Marginal Oil Fields Development Conference 2016 held in London,UK recently...recently

High Cost of Aircraft Insurance, Maintenance Threaten Domestic Airlines Chinedu Eze Chairman of Air Peace Limited, Mr. Allen Onyema has warned that unless urgent action was taken to review downwards, the cost of aircraft insurance in Nigeria and the establishment of Maintenance, Overhaul and Repair (MRO) facility locally, domestic airlines would find it extremely difficult to continue to operate.

Onyema said besides the cost of aviation fuel, which constitutes over 40 percent of airline’s operational cost, insurance and aircraft maintenance erode the revenue of airlines.

He noted that insurers wrongly designate Nigeria as high risk environment and therefore multiply the cost of aircraft insurance, noting that with the low value of the naira it is exorbitant ferrying aircraft overseas for maintenance, so urgent establishment of MRO in Nigeria is needed to save the country billions of naira in foreign exchange.

The Air Peace Chairman made this known at the weekend in Lagos when he announced that the airline had acquired two new Boeing 737-500 aircraft as part of efforts to boost its fleet and route expansion programme.

He said the investments in the new aircraft had become necessary following the receipt of licences to commence regional flight operations.

“We have been designed to fly into these regional routes: Dakar, Senegal;

Accra, Ghana, Niamey, Niger; Abidjan, Ivory Coast; and Duola and Cameroon.

One of the new aircraft has the capacity to take 142 passengers, while the other can take 126 passengers. In our fleet, we have nine Boeing and one Dornier aircraft, which make us the second largest airline in Nigeria in terms of the number of aircraft. Some of the aircraft we will deploy for the regional routes.

We have visited the civil aviation and relevant authorities in these countries and plans are at advanced state. We will soon announce our commencement dates on these routes but one thing that we want to assure our passengers is that we will put in our cockpit the best of pilots,” Onyema said.

He also disclosed that the airline had been designated to fly to destinations in China, Dubai, India, and South Africa.

He said his company was ready to make the requisite investments to grow in the industry and create more jobs for Nigerians.

According to the Air Peace Chairman, at present, and in just two years, the airline had employed over 700 Nigerians. He however lamented the harsh operating environment in Nigeria saying airlines were finding it so difficult to survive as going concerns.

“The domestic airline industry is not getting the right support it deserves from the government as they would rather do everything possible to support foreign

airlines. We do more for the country than the foreign airlines. If the foreign airlines face the kind of challenges that we face for 72 hours they will seize to exist. The government must rise up and protect local airlines, but I give kudos to the Minister of State for Aviation, Senator Hadi Sirika who shows understanding and who knows the enormous challenges we are facing” he added.

Onyema listed some of the challenges facing local airlines to include forex and fuel scarcity, high premium on insurance, double taxation to regulatory and airport agencies, as well as the failure of Nigerian Customs Services (NCS) to comply with the recent government directives that exempted imported aircraft spares from duties.

He said his airline lost over N260 million recently when Customs refused to release imported engine spares to the airline, thus forcing the grounding of that particular aircraft for weeks.

He also criticised some local airlines charging airfares as low as N12, 500 on some routes, noting that such fares were unrealistic and that airlines that charged such fares in an attempt to woo passengers and stay in the game, did so not minding that such undue or unfair competitive scheme could force them into breaching safety standard and jeopardise safety of the aircraft, the crew and the lives of passengers.

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BUSINESSWORLD

NEWS

NAICOM Fine Tunes Plans to Inaugurate Public Asset Insurance Pool Ebere Nwoji

The National Insurance Commission (NAICOM), plans to inaugurate a pool for insurance of federal government assets.

The Commissioner for Insurance, Alhaji Mohammed Kari, who disclosed this in a brief interview with THISDAY recently in Abuja, said the proposed pool, when fully in operation, would give insurance firms who met the requirements equal chance of participating in the insurance of public assets.

He also said it will address the present practice of local insurers wanting to reinsure their big ticket businesses abroad instead

of insuring such businesses in Nigeria.

According to Kari, the pool would cover insurance of big assets of federal government such as aviation and big structures of government like Federal Secretariat building.

He however, said NAICOM is yet to come up with guidelines and requirements for participation in the pool.

Meanwhile, insurance industry operators said the idea of forming public Asset Insurance Pool is the best thing that has happened to the industry.

Operators, who spoke to THISDAY on this, said it will bring to a stop the long standing

unhealthy competition and all the professional malpractices associated with Public Asset Insurance underwriting.

According to the Managing Director, Niger Insurance Plc, Mr Kolapo Adedeji, it is good for the industry and will ensure that operators who qualify for the business get their desired market share.

He also said it will enable each underwriter find his own level in the business.

Over the years, participation in the public sector asset insurance has been a major source of unhealthy competition and unprofessional practices in the country.

Insurance managers, year in year out, race to participate in the business at all cost.

This has seen many going against their professional will by involving themselves in professional vices such as rate cutting, bribing of government insurance agents as well as buying of premium from government officials to the extent that some of them, in their bid to corner such government accounts, give rates that they know will not enable them pay claims from such businesses when they arise.

The result of this is that such insurers, agree with government officials to ignore the claims when they occur, a situation which has

left many damaged government assets such as burnt public buildings un repaired because insurance firms that insured them absconded as the risk crystalises.

This was the case until few years back, when the immediate past commissioner for insurance, Mr. Fola Daniel, issued a warning that the era of abandoned claims from damaged public assets was over therefore any insurance firm bidding for insurance of government assets should be ready to pay for claims emanating from such assets irrespective of how much premium he charged.

Daniel, warned against quoting unprofessional rates insisting that the commission would no longer

close its eyes against such insurers. Some insurers, on account of this, lost interest in government business while others, bearing in mind that government has remained the biggest spender in the economy, continued in the race but insisted on charging professional rates.

Perhaps, the bid to put an end to the negative practices of operators in government asset insurance and the need to ensure that the much desired government business insurance spreads equitably to interested and qualified insurers, propelled the present commissioner for insurance to come up with the idea of the proposed pool.

Dana Air Crash: Prestige Assurance Recounts Effects of Huge Claims on Profitability Ebere Nwoji Prestige Assurance Plc has said the huge single claim of over N725million it paid to Dana Airline, to a large extent adversely affected its profitability for the year ended December 31, 2015.

Prestige Assurance, was the lead insurer for Dana Airline which air craft crashed few years back, killing its passengers and crew members.

The company, along other co

insurers took the responsibility of compensating relatives of the crash victims and the ground victims. The company, which completed the claims settlement from the crash last year, put total claims it paid at N725 million.

At the meeting, the company assured its shareholders that it has brought everything concerning the Dana Air claims under control as it announced gross premium of N2.4430533billion for the period.

Profit Before Tax of the company for the period stood at N20.339577million while loss incurred after tax stood at N145.295000million.

Announcing this at the 46th annual general meeting of the company held in Lagos, Prestige Assurance Chairman, Hasan Usman, said the quantum of loss after tax incurred was due to the peculiarity of the tax laws guiding insurance companies where in tax is levied against premium earned and not profit

made.

He said the company’s underwriting expenses stood at N1.733977000 during the period under review while result from operating activities of the company stood at N39.577000.

Hassan, said though the competitive environment in Nigeria will be as challenging as ever, especially with the entrance of international giants into the Nigerian market, the situation presents opportunity

to upgrade insurance practice in Nigeria and is good for its operations because of the rare competitive strength it had built for itself over the years as one of the oldest and most experienced operators in the Nigerian market.

“Our unmatched depth of knowledge of the Nigerian market and very strong international links gives us cause to believe that we are well poised to tap into areas of opportunity in the Nigerian market with

our market winning products and services”, said Usman.

He said as part of the company’s strategy to achieve its target of being one of the top three insurance companies in Nigeria, the strategic business unit E business unit and Ikeja branch office have been opened and is fully operational even as he said that the company has got plans to open more branches with the intention of acquiring more market share of the insurance industry.

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EDUCATION Resuming a New Academic Session amidst Dwindling Economy As the summer holiday draws to a close and teachers get ready to return to their duty posts amidst the harsh economic situation in Nigeria, some concerned educators and parents have said it will take a teacher that is ready to go the extra mile in the profession to meet the expectations of the students, school owners and parents in a time like this. Peace Obi reports Time they say changes and it takes highly equipped individuals with practical knowledge, experience and self-determination to go against the tide and remain standing. Experts have said it will take committed, self-motivated, and disciplined teachers to remain focused and achieve results amidst the dwindling economic power of the people.

As primary and secondary schools in the country prepare to commence a new academic session, Concerned Parents and Educators (CPE), a body of parents, teachers, school administrators and educators in a recent forum where it brainstormed on some of the best ways to move the country’s education forward, reflected on the topic ‘Getting our Teachers Ready to Resume.’

The moderator, an educational consultant and Managing Director, Edumark Consult, Mrs. Yinka Ogunde, who opened the discussions, said as people groan under the harsh economy, it becomes more challenging as parents and teachers wonder how to meet up with their children’s school responsibilities.

According to her, as the moaning parents wonder where school fees will come from, schools are equally worried by increasing costs as only very few can dare to increase school fees for fear of losing patronage from the already overburdened parents. “Some teachers are wondering if salaries would be able to meet the rising cost of daily living.

And don’t doubt for a moment that the ever observant and sensitive children are taking it all in and making their own deductions.

“Obviously, special teachers are needed at a time like this. Teachers that will encourage, motivate, inspire and convey the message of a better tomorrow. And one of the key tools I believe is needed now is enthusiasm.”

To teachers, she said: “So get enthusiastic about what you are doing. I hope that in this new academic year, teachers would be able to inspire and encourage our children by the enthusiasm they will bring to the job.”

Noting that teachers play important role in nation building and that no nation can rise above the quality of its teachers, an educational consultant, Mr. Adeogun Kayode, said the future of any nation depends on the standard of education obtainable in that nation which depends on the quality of the teachers in place.

Stressing that the destiny of a child lies partly on the hands of the teacher, Kayode said the quality and manner of lesson delivery by the teacher can make a child either drop out of school or develop strong interest in pursuing a brighter future through education.

“Effective teaching in the classroom can only be ensured by an effective teacher who arms himself with all necessary principles, methods, motivational skills and instructional materials.”

He said apart from the aforementioned working tools, a teacher is expected to possess some qualities that will facilitate his/her classroom activities, which include, personal interest, love of children, discipline, knowledge, commitment, among others. “For a teacher to be effective in the classroom, he must develop personal interest in the teaching profession. He should not see it as a mere means of livelihood in the absence of a better option of job.

“His personal interest will steer him to put in appreciable effort that can make his teaching effective and result-oriented. And discipline is an indispensable virtue for effective performances in the classroom. A disciplined teacher possesses self-control and sacrificial quality that guarantee quality service at all times.

“It is important for a teacher to have knowledge- two-fold nature. He must first possess

Nigerian Teachers’

a general knowledge which include a sound understanding and specific knowledge of the subject. On the other hand, he must have an in-depth knowledge of the nature of children.

He must realise the fact that, he interacts with children who by their nature are inquisitive and curious thus, the incessant questioning.

He should be able to cope with the virile and inquisitive nature of children generally. In fact, he should display a very accurate and cute reasoning ability in order to be able to cope with the dynamic nature of children.

Expressing his desire to see Nigerian teachers become internally motivated and personally encouraged, the educational consultant said that is what can propel them to put in their best in the classroom, to ensure that any child that passes through them does not become a failure in life and to set the target of producing students who will become great leaders tomorrow.

“No one on earth can pay a teacher enough for his services. It is a sacrifice and a great job. It is an indispensable job- the job without which every other productive activity in the society comes to naught.

“In spite of the unfortunate situations, the discouraging circumstances and the frustrating environment in which Nigerian teachers have been constrained to operate, it is my passionate appeal that the teachers should sacrificially labour for the sake of the Nigerian child.”

Delivering his 10-point thought, Mr. Onikoyi Abiodun, encouraged teachers to enjoy what they do, make a difference, be creative, spread positivity and to embrace change, among others.

According to him, the teaching profession is meant to be an enjoyable and rewarding career field, although demanding and exhausting at times.

Stressing that teachers need to understand the responsibility that comes with their profession, he said their goals at all times ought to be to make a difference in the lives of their students.

“Make them feel special, safe and secure when they are in your classrooms. Be the positive influence in their lives. Why? You never know what your students went through before entering your classroom on a particular day or what conditions they are going home to after your class. So, just in case they are not getting enough

support from home at least you will make a difference and provide that to them.”

While urging teachers to always manage their personal problems in such a way that it does not affect the quality of their job, Abidoun said: “Bring positive energy into the classroom every single day. You have a beautiful smile, so don’t forget to flash it as much as possible throughout the day. I know that you face battles of your own in your personal lives, but once you enter that classroom, you should leave all of them behind before you step feet in the door.”

The educator added: “An effective teacher is one who is creative but that doesn’t mean that you have to create everything from the scratch.

Find inspiration from as many sources as you can. Whether it comes from books, education, Pinterest, YouTube, Facebook, blogs and many more, keep finding it.”

Acknowledging that in life, things do not always go according to plan, he said, “this is particularly true when it comes to teaching.

Be flexible and go with the flow when change occurs. An effective teacher does not complain about changes. Instead of stressing about change, embrace it with both hands and show that you are capable of hitting every curve ball that comes your way.

“There is always something positive to be found in every situation but it is up to teachers to find it. Keep your heads up and teach happily for the love of education,” Abiodun stressed.

For another expert, Mrs. Rhoda Odigboh, to get the best from the seemingly difficult situation that teachers may be working in the 2016/2017 academic session requires effective time management, appreciation of the power of connections, class control, saving plans and keeping a journal.

While enjoining teachers to make time management one of their guiding principles towards achieving meaningful goals, she said, “stay away from that very tempting ‘last-minute-dot-com’ syndrome. Just do it.”

Elaborating on some of her ideas, Odigboh said: “Establish one-on-one relationship with your students. I mean know, schedule a moment every week to speak and hear every student of yours. It does magic for your work and their grades. Seek multiple strategies to control

classroom behaviour. Use progressive language.

Admonishing teachers to cultivate the habit of saving a portion of their income, she said when adopted as a habit, it would help them to plan and take on new projects with less stress.

“Money makes everyone happier which leads to being able to plan to take on new projects easily. Join an ‘esusu’, ‘ajo’ or cooperative. Leave a standing order at the bank to a savings account. Start little but be consistent. You will be glad you did. To avoid losing focus, Odigboh encouraged teachers to write their set goals.

“Write your dreams, document your plans, make them short and precise. Task yourselves with simple, doable but uplifting tasks that can keep you on your toes.”

Corroborating other leading opinions, Mrs. Modupe Adesanya, said the current economic situation should not make parents and educators lose focus on the need to bequeath Nigerian children quality education that will enable them compete favourably with their counterparts globally. “No matter the cost of living and melting economy, the education of our children should remain paramount to all parents. The teachers should still believe in themselves and note that they are called to serve. No matter what comes up, the best is still expected from them because teachers’ rewards start right here on earth. All teachers will never labour in vain.”

While calling for collaborative efforts to achieve the optimum result in the forthcoming academic session, Mrs. Ndidi Adekunle said “this is the time of seeking the most value out of little for both the school and the teacher and of course the students and their parents.

Advising teachers, students and parents to leverage on materials the modern technology put at their disposal, she said: “Luckily for us, it is the age of information. Already-made lesson plans and entire class sessions from the best of Montessori, High Scope, Waldorf, you name it, are out there to help schools, teachers, students, and parents buffer their practices at little or no cost in comparison. You cannot afford not to be online these times. It is too expensive not to be. You must rise above your circumstances and stay on top of your game,” Adekunle said.

T H I S D AY • WEDNESDAY, AUGUST 31, 2016

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EDUCATION

Osun at 25: Counting Gains of Education As Osun State turns 25, Yinka Kolawole examines some of the strides of the Governor Rauf Aregbesola’s administration in the education sector, which include school feeding, calisthenics displays and some developmental projects due for inauguration by President Muhammadu Buhari tomorrow Osogbo, the capital of Osun State is said to be wearing a different look following the unprecedented level of infrastructural development.

Apart from a new network of roads that now define the state capital, the number of schools that have sprung up has added to the change in the character of the city.

Governor Rauf Aregbesola had become controversial as a result of his belief and disposition on how the problems in the education sector of the country and the state should be confronted once and for all.

When he introduced the re-classification of schools into elementary, middle and high schools, and the adoption of a single school uniform for each level, his name was on the lips of Nigerians as the man that was introducing “strange” things into education.

“But we remained undaunted,” said Semiu Okanlawon, the Director, Bureau of Communication and Strategy in the state. He explained that leaders who are not courageous enough to take painful but courageous decisions for the future are not worthy of being called leaders.

“That was why the Aregbesola administration pursued with vigour those reforms, convinced that in the fullness of time, the people of Osun and entire Nigerians would turn back to appreciate the “strange” educational reforms.”

Come September 1, President Muhammadu Buhari will inaugurate what the governor was quoted by one of his aides to have described as “the high school that only the president can open.”

The Osogbo Government High School, which Buhari is slated to unveil, is a three-inone school. It is expected to accommodate 3,000 students each school with its own principal and the maintenance of the school by a facility manager.

Making up the state-of-theart school will be 72 classrooms of 40 square meter each capable of sitting 49 students. It has six offices for study groups; it is equipped with six laboratories; 18 toilets for girls and 18 for boys; one science library; one arts library; facility manager’s office; a bookshop and a sick bay.

Late last year, the first government high school closest to the one to be opened was declared open for use by Nobel Laureate, Prof.

Wole Soyinka, who the school was named after.

The Osogbo Government High School; Wole Soyinka Government School, Ejigbo; Ataoja School of Science, Osogbo; Unity/Fakunle Comprehensive Government High School; Osogbo Seventh Day Adventists, Ede; Ilesa Grammar School; Iwo High School, are some of those that have reached advanced stages of completion and are due for commissioning. The state is building a total of 20 of this category of schools.

In addition to these are the 50 middle schools and 100 elementary schools expected to be delivered before the end of Aregbesola’s tenure. Many were not surprised when the high school in Ejigbo was named after Soyinka, as he chaired the two-day summit organised by the Aregbesola administration in February 2011, three months after he assumed office.

“There is no policy of the current administration on education that is not a product of or resolution of that summit,” Aregbesola said in one of his interviews.

However, the Aregbesola administration has been criticized by a few who believed that attention should not be focused on infrastructure but on teacher welfare and training. One of his critics was an opposition politician, Segun Akinwusi.

“Aregbesola is not being accused of not building schools

or building mushroom schools. He is accused of building “too big” schools. To us that sounds complimentary. What that tells you is that we are not building for today only, but visionary enough to accommodate tomorrow in our all-encompassing policies,” Okanlawon argued.

He explained that the Osun assault on decayed infrastructure and attention paid to innovative strategies to make learning more interesting and productive have been sources of emulation by other governments.

A major component of the Aregbesola’s handling of education is the re-awakening of the moribund school feeding programme, which had started under the government of Chief Olusegun Obasanjo.

“We revived this programme and we have made it what is it today, a model for other states to copy,” said the Deputy Governor, Mrs. Titi LaoyeTomori, who doubles as the Commissioner for Education.

The state prides itself as the model state that has given the federal government a template to follow in the implementation of the home grown school feeding programme. A book, ‘Global Sourcebook on School Feeding: Lessons from 14 Countries’ published by the Partnership for Child Development (PCD) highlighted the contribution of Osun on behalf of Nigeria in the book.

In June 2016, all the states in the south-west gathered in Osogbo to understudy its implementation.

At the colorful event to mark the state’s 25th anniversary, former administrators of the state were full of praises for the Aregbesola administration as they gathered with other dignitaries to mark the epochal event.

Colonel Theophilus Bamigboye and Navy Capt. Anthony Udofia, who spoke on behalf of previous administrators of the state commended Aregbesola for what they described as unprecedented developments witnessed under his administration.

This was just as Aregbesola stated that “worthy legacies” of previous leaders should be sustained while saluting the late Governor of the old Oyo State, Chief Bola Ige for introducing the idea of calisthenics during his time as governor.

The two past administrators were pleased with the level of transformation and development in the state since they left as military governors.

“Osun is working; we are proud of Aregbesola for the wonderful work he is doing.

This state will continue to progress; we want you to keep the flag flying.

“We were very impressed with the colourful calisthenics event the children displayed.

This is wonderful, marvelous and fantastic. We say well done on behalf of all past executive governors of the state,” Bambgboye said.

Aregbesola while congratulating all on the 25th anniversary of the state, said the Osun School Calisthenics is not a frivolous brainwave that would be swept away by

the tide of time.

He said the programme is well-conceived as part of the overall redesign and reorganisation of the education system in the state, adding that his administration views physical education with all seriousness, regarding formal education as incomplete without its physical development component.

The governor emphasised that the calisthenics programme is not only an out-of-school sports activity, but a lifestylechange project for building a new generation of students who are physically fit, mentally sound and socially well-adjusted.

He said the programme is supported by practices in other lands and climes, adding that UNESCO regards physical education programmes as part of its crucial brief.

The calisthenics display to mark the Silver Jubilee of the state involved 4,000 pupils between the ages of nine and 14, drawn from 17 middle schools in Osogbo and Olorunda Local Government Areas.

Front view of the new school

Integrate Chinese Language into Schools’ Curricular, NGO Tells FG Uchechukwu Nnaike A Non-governmental Oganisation (NGO), Initiative of African Friends of China has called on the federal government to introduce the teaching of Chinese Language in secondary schools across the country.

The President of the NGO, Mr. Fred Ogwazu, made the call while signing a Memorandum of Understanding (MoU) with DBS Media Ltd, a Nigerian creative media content agency in Lagos recently. Ogwazu said the development if considered will tend to explore maximally the socio-economic

corporations, educational and cultural exchanges as well as technological and skills acquisition.

He said in the new world order, Africa and China seem to have slots in common, hence the believe that Africa has so much opportunity in China and vice-versa.

“To further boost this advocacy, we have already concluded plans to commence the teaching of Chinese Language in some centres across Africa, starting from Nigeria. The Nigeria centre will be located in Abuja with business men and other interested persons as our target, while others will be

cited in African countries such as Ethiopia and South Africa.

“Already, we have written to the Chinese Embassy in Nigeria to provide us with volunteer teachers for the language and we are sure to commence very soon.”

According to him, the development would also promote good ideas for indigenous African companies intending to partner Chinese companies and making recommendations where necessary.

Ogwazu said the relationship between Nigeria and China has been growing by the day, following the commendable activities of institutions like Forum on

China-Africa Corporation and the China-Africa Development Fund.

“Initiative of African Friends of China is therefore calling for greater awareness among African governments and private sectors to key into the developmental opportunities provided by the Chinese Government through this platform towards tackling most of Africa’s challenges.”

He said apart from advocating for the teaching of Chinese Language in schools across Nigeria and other African countries as a way of strengthening socio-economic and cultural ties with China, the MoU also seeks to connect

opportunities with investors through the provision of timely information.

He said such information is mainly on opportunities available in China and in the continent. Ogwazu added that the MoU was tailored around changing the perception of products and services exchange between China and other African countries and provide feedback channels where necessary among others.

“To also realise this, we in conjunction with DBS Media Limited would implore the use of documentary videos and movies in creating the much needed awareness on the potential in Nigeria and

Africa at large.

“Our partnership with DBS Media is strategic as we intend to do a wellresearched documentary and video that will highlight the developmental drives

by Chinese Government to African nations.”

In his remarks, the Managing Director, DBS Media, Mr. Cletus Chukwuma, said he is looking forward to a fruitful working relationship with the association, as the agency has all it takes to meet its expectations. “We are not new in packing of quality contents that satisfies the curiosity of the viewing public.”

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T H I S D AY • WEDNESDAY, AUGUST 31, 2016

EDUCATION

‘Experts Must Agree on Fund Sourcing for Unity Colleges’ Funmi Ogundare

A former Principal of King’s College, Lagos, Chief Oladele Olapeju, has appealed to the Federal Ministry of Education to quickly reverse its current directives and convene an emergency meeting of stakeholders to agree on the appropriate fund sourcing for federal unity colleges.

He described the recent legislation and pronouncement from the ministry on school fees, cancellation or ban of development levies for new entrants by the PTA and the unification of PTA termly levy to N5,000 as a killer punch, saying that if not reversed, it would serve as a death knell for the total annihilation of the colleges.

Olapeju, who made this known in a statement, regretted the trend of policy reversals and summersault in the education sector, which has assumed a worrisome dimension for the country’s turnaround.

He said before any pronouncement is made, stakeholders ought to have been consulted and their opinions respected, adding that in an era of declining revenue from the federal source, parents are the most important alternative source of funding. “We have often said that all stakeholders including the government, developmental partners, parents, the community, the alumni and all other people of goodwill must contribute to the funding

of public education. Education for all is the responsibility of all.

“It is not strange that when new administrations come to power, they tend to bring meaningful innovations into the administration and also engrave their signatures and prove they are not ‘follow follow’. This has been the trend over the years. Oftentimes, several policies are made and not implemented leading to stunted growth. The Nigerian child obviously becomes the victim.”

According to him, the only minister of education that deviated from the worrisome trend was Dr. Sam Egwu, who gathered together egg heads and technocrats and dusted all the past policies before the ministry and developed a roadmap for the sector. Olapeju, who condemned the cancellation of the post-UTME screening, the lop-sided appointments and treatment of vice-chancellors and parastatals as office assistants to be hired and fired at will, said “the roadmap has been and remains the only living ‘bible’ for the education sector.

However, the recent pronouncements and policy reversals by the current leadership in the Federal Ministry of Education has assumed a very worrisome dimension that if not checked, the conflagration might consume the entire sector which serves as a fulcrum around which other sectors gravitate.

“These colleges remain the earliest contacts and models of excellence in public education for the citizenry. Bedevilled by gross underfunding and neglect, the 104 colleges have been gasping for breath and relevance. Apologists of the private colleges that they compete with, had worn so many stories and made several attempts to smear the colleges as mere aberration hence the call for selling them off. However, good reasons prevailed with the help of parents who resisted this unique national experiment and pride.”

The former principal recalled his experience in King’s College where he served as principal for six years, saying, “the success of my administration, apart from self-determination and positive vision and focus, could be attributed to the unqualified support I got from stakeholders especially parents and the alumni, and King’s College Old Boys Association (KCOBA).

“The level of funding of our colleges does not support quality education. For instance, with the support of the parents we had to recruit 50 graduate teachers most of whom taught the core subjects like English Language, Mathematics, Civic Education and the Sciences. Since the Obasanjo days, government outsourced municipal services, hence the cooks, stewards, drivers and cleaners were not in the government wage bill.”

The Good Old Camwood (African Sandalwood) onYour Skin I thought it would be a bit refreshing to take a break from topics internal and ‘soulish’ in nature. Today, let’s look at one of two simple things around us, that aren’t strange but, perhaps taken for granted. As teachers do let’s review lessons taught and, or learnt.

Nigeria’s use of plants and their extracts to treat minor and major infections and illnesses dates back to ancient times. The use of these and other alternative therapies still far outsmarts dependence on modern Western treatments.

Inaccessibility to government hospitals and health centres, for a vast number of people, is one reason for this, whilst in-affordability as well as preference for indigenous, natural treatment resources are major reasons why many Nigerians remain homely remedy inclined.

So many people use medicinal plants to treat and cure an array of infections and diseases caused by microorganisms. Some common medicinal plants used in the homefront in Nigeria include: Henna plant (popularly known as Lali), Hibiscus flower (zobo), Bitter leaf, Cayenne (Bawa), Aloe Vera Patminger - Efirin, Clove - Konofuru and Camwood.

Camwood powder is obtained by grinding the bark of the Camwood tree (Baphia nitida). It is called Osun in Yoruba, Majidi in Hausa, Uhie in Igbo and Ekui in Cross Rivers. Nigerians across the country use Camwood as a regular facial and body wash ingredient, as well as an ingredient to treat pimples, eczema, ringworm, uneven skin tones due to the sunburn, premature skin aging and wrinkling, sprains and rheumatic pains, skin inflammations as well as other types of skin blemishes.

A few studies have been done in Nigeria on the effectiveness of Camwood. Agwa O. K. et al (2012), in a study of the therapeutic effects of some Camwood native to certain parts of Nigeria, titled ‘Antimicrobial activity of Camwood’ published in the African Journal of Biotechnology, suggest that Camwood possesses some level of antimicrobial activity and can be used to treat pathogenic infections.

Some ways people apply Camwood topically are as follows: •Camwood is added to Aqueous cream BP and used as a body wash for adults, babies and infants of all ages.

•Camwood is mixed with regular tablet or liquid bath •Camwood is mixed in with a paste of mango flesh and used as a face mask, left on for a couple of hours or as required, then washed off with a good facial soap.

•Camwood is mixed in with Rosewater and Glycerine to make a paste and thereafter used as face mask (as in no. 3) above.

Do you think you might want to include camwood in your shopping list this week?

Omoru writes from the UK

EMPOWERING YOUTHS

L-R, Chairman of the occasion, former Secretary General of the Commonwealth, Chief Emeka Anyaoku; the Director, Public Affairs and Legal, Nigerian Bottling Company, Mrs. Sade Morgan; and a guest speaker, Joy Isi Bewaji, at the Nigerian commemoration of the United Nations International Youth Day 2016 held at the University of Lagos… recently

School Director Vows to Promote Inclusive Education Uchechukwu Nnaike As Brooke House School, Lekki prepares to open its doors to its pioneer pupils in the nursery and primary classes on September 18, the Managing Director, Mrs. Ifueko Thomas, has expressed her determination to run an inclusive system to address the issue of children with learning challenges.

She said the school would accept children with all kinds of learning difficulties and would support them by giving them special attention. “We are working in collaboration with the Faculty of Child Psychology, University of Lagos, where one of the doctors will be working with us so that if we have cases of children that are above the spectrum that we can handle, the professional will come in

and they will come in from time to time to observe what we are doing.”

She said the Brooke House Learning Centre, which would run the crèche/playgroup, nursery and primary school programmes, encourages an eclectic curriculum that ensures the accommodation of each child’s individual learning preferences.

“Our lessons which will be founded on the Nigerian Federal Ministry of Education Nine-year Basic Education Curriculum will incorporate aspects of the International Primary Curriculum; the Montessori programme; the High Scope programme; and the Reggio Emilia from Italy.”

Thomas said the school is committed to the highest standards of health, safety and

care of the children, adding that its goal of promoting effective teaching practices leading to increased student learning and performance would place it in a unique position to provide an unmatched learning experience for the children, “while our emphasis on providing high quality opportunities for professional development for teachers will see us raise the bar for the entire child development space.”

She said the school would ensure that all students receive world-class education; ensure that the students have quality, committed and caring teachers; provide effective support and feedback for teachers so that they would continue to develop their knowledge base and skills and choose to remain in the profession.

According to her, with 12 classrooms, a library, a sickbay, an ICT room, a mini kitchen, three rooms for crèche, two play areas, a garden and other facilities, the pupils are expected to be inspired to greatness; renewed, full of life, cerebral and confident; become global citizens; be curious, eloquent, creative and innovative.

She added that the pupils would be made to be proud of their heritage, able to keep their identities and be broad minded; have relevant 21st century skills like digital age literacy, inventive thinking, social and personal skills and be result-oriented. They are also expected to have leadership qualities, team spirit and interactive communication skills.

Chi Limited Restates Commitment to Youth Education, Devt As part of efforts to support youth development at various levels of education in the country, Chi Limited recently partnered King Jaja Hall of the University of Lagos (UNILAG) to celebrate its Hall Week.

The partnership came few weeks after the company supported the university’s Marine Football Club and the Lagos State Principal’s Cup, one of the biggest grassroots football competitions in Nigeria.

The Managing Director, Chi Limited, Deepanjan Roy, while speaking about the partnership, said youths are key to the future of the company so it needs to do all it can to help them achieve their potential so that they in turn can contribute their quota to shape and share in the future success. “Chi Limited through this partnership, seeks to bring the brand truth of Chivita 100 per cent to life. The brand successfully achieved this through direct interaction with the students who

are full of vitality and are largely health conscious.

“As an undisputed market leader and consumer-driven company noted for high quality and innovative product offerings that excite and exceed consumers’ expectations, Chi Limited desires to make positive contributions to the lives of consumers.”

“For us at Chi Limited, we shall continue to offer the best there is in fruit juices, dairy products and snacks for their wellbeing while supporting positive initiatives to ensure an all-round development for the youths,” Roy said. The Chairman, King Jaja Hall, Taiwo Ibrahim Abiola, commended the management of the company for adding excitement to this year’s hall week. “For a company with a reputation for supporting youth development initiatives across Nigeria, the partnership with King Jaja Hall to celebrate our week-long activities comes as no surprise.”

T H I S D AY • WEDNESDAY, AUGUST 31, 2016

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EDUCATION

Amosun’s Wife Seeks More Attention for Girls, Women The wife of the Ogun State Governor, Mrs. Olufunsho Amosun, has called on the Nigeria Girl Guides Association (NGGA) to pay more attention to girls and women so as to encourage and improve their standard of living.

Amosun made the call recently at the opening of the association’s conference tagged ‘Ogun 2016 International Camp’ with the theme ‘Connecting Worldwide towards Achieving Excellence’.

She said the association has been recognised worldwide in its effort to train and empower women and girls to be better leaders in order to contribute to the development of their respective countries, adding that taking its programmes down to the grassroots would not only empower them, but assist in exposing them to other societal vices as it affects them.

Amosun said the theme of the conference was apt; as it would provide participants the opportunity to network and scale up their activities in line

with best practices, adding that emphasis should also be made in the education of the girl-child as gone were the days when the women were only confined to the kitchen.

“I encourage you to continue to pay attention to our young girls and women, particularly those in rural areas. I need you to put more programmes in place that will continue to cater for issues especially as it relates to the girl-child and women.

“Groom them to be independent minded women and make them to be focused, following in line the virtues of the girl guides. They should be more rounded individuals by being members of this association.”

In her remarks, the Chief Commissioner of the association, Mrs. Maria-Goretti Sule, commended all the guides who had been making sacrificial contributions towards the development of the association at various levels.

“We want to also use this opportunity to extend our hand of fellowship to our leaders in

areas of authority who make the decisions that influence our youths. We believe that together we can train and develop the youths to be useful citizens of our country.

“The girl-child especially deserves special attention and this association is committed to empowering girls and young women to develop their potential and take action where their voices can be heard. We look forward to achieving these goals and creating more impact within our communities, states and nations.”

The guest speaker, Prof.

Folasade Henshaw of the Federal University of Agriculture, Abeokuta urged Nigerian leaders to show more commitment in ensuring that the rights of the girl-child are protected.

According to her Nigerians must strive to work together as a people and shun ethnicity, religious inclinations and other anti-social vices so as to move forward.

FXTM Brings World-class Educational Events to Nigeria A global, award-winning forex broker FXTM is reinforcing its position as a leader in the provision of world-class education with the announcement of series of educational and networking events for Nigerian traders.

The educational events will be led by one of the world’s respected FX experts, Professor Andreas Thalassinos, with the programme tailored specifically to the needs of Nigerian traders.

The series which will hold in Abuja and Lagos from August to October will culminate in a grand gala dinner with industry guest speakers and an entertainment programme.

The event series began on August 27 in Abuja with an advanced one-day free seminar titled ‘The Ultimate Trading Formula’. Hosting a large audience of 300 people, the seminar saw Thalassinos share trading tips to elevate participants’ trading to new levels. It will be followed by a three-day afternoon workshop from August 30 to September 1 at FXTM’s Abuja office. Suitable for beginners, the workshop will be open to a total of 50 participants, allowing for more personal, face to face interaction with FXTM’s local team and

Thalassinos. Participants at both seminars will receive certificates of attendance and will have the opportunity to speak with the hosts and experts. The series will culminate in a grand gala dinner and keynote event in Lagos on September 24, which will offer an exclusive programme including a presentation by FXTM Research Analyst Lukman Otunuga, who will discuss market trends and the outlook for the naira. There will also be speeches from successful traders sharing their strategies and techniques.

The event, which will hold at the Classique Event Hall for free, will offer networking opportunities and a wide range of interesting topics and speakers, as well as an entertainment show.

The Country Director, FXTM Nigeria, Abiola Akinyele, said: “Following on from the phenomenal success of FXTM’s educational events in 2015, which saw a record turnout with audiences of over 1,000 at our online trading and investment conference in Lagos, we are delighted to have Thalassinos back in Nigeria for another series of events. “At FXTM we are dedicated to making trading

understandable and accessible to anyone who is looking for new financial opportunities in the evolving global marketplace.

“Education is therefore one of our utmost priorities, with our latest seminars designed to equip traders with all the necessary skills and strategies to make well-informed trades.

Similar courses to those we are holding in Abuja are planned to take place in Lagos in November so those interested should keep an eye out for upcoming announcements.”

FXTM is already well established as a recognised leader in forex education globally and in Nigeria, delivering ongoing educational courses and seminars for all levels in financial market trading such as metatrader four classes, investment seminars and interactive online forums.

The FXTM brand has seen rapid development in Africa with Forextime Limited having recently secured a license from the Financial Services Board (FSB) in South Africa.

Forextime Limited is also expanding significantly on a global level, having announced the opening of its UK branch earlier this year.

School Hails Senator for Donating Science Kits Segun Awofadeji in Bauchi The Baptist Royal Academy (BRA), Bauchi has commended Senator Ali Wakili for donating laboratory kits to the school to improve science education.

Addressing the speech and prize-giving ceremony of the school to mark the end of the 2015/2016 academic session, the Chairman of the school Board, Mr. David Ayodele, said the senator’s gesture is the first of its kind in the school.

He also described Wakili, who represents Bauchi South

Senatorial Zone as a detribalised Nigerian and a true patriot, whose passion for education should be supported and emulated by all politicians in the quest to improve the standard of education in the state.

Ayodele appealed to other law makers from the state to assist the school library with current textbooks to encourage the reading culture among students, adding, “an equipped and well stocked library will promote reading culture and deter students from spending too much time browsing, chatting,

and exposure to websites that could corrupt their minds.”

The PTA Chairman, Mr. Emmanuel Asagha, who received the laboratory kits on behalf of the management, called on people in privileged positions to contribute to the development of education in view of the paucity of funds most private schools are currently battling with.

He also appealed to parents that are indebted to the school to settle their debts to enable the management continue with the ongoing upgrade of facilities in the school

Ensuring Effective Nation Building through Successful Parenting Funmi Ogundare and Peace Obi Parents, children and experts from institutions and churches recently converged on the SBLS Centre, Oregun, Ikeja, for the second national character parenting summit with theme, ‘Nation Building: The Economic Clause Vs. Deliberate Parenting’.

The programme, organised by Royal Characters and Values Limited (RCV), a social capital development and management company, saw discussants and participants emphasise on inculcating the right values in their children, good communication, team work for a successful parenting, learning to deal with different challenges, transparency, among others.

In her remarks, the convener, Mrs. Bosede Olusola-Obasa, said since parents are crucial to nation building, there is need for them to recognise the responsibility which rests on their shoulders.

“The quality of every nation is a direct reflection of the quality of her citizens and the quality of her citizens is determined primarily by the quality of the families they come from and the quality of families depends on the quality of parents.”

She said homes and families should be the starting point for the campaign, which she said should also be taken to schools for proper and effective dissemination, as well as the attainment of the much desired

change in the country’s national life.

While calling on all government agencies, ministries of education and the media to rise to the challenge of championing the character re-orientation campaign, she said schools would play an important role.

“This year’s summit stresses the need for parents to be deliberate about their responsibility.

There is need for character reorientation and it must begin from our homes built by role model parents.

“We acknowledge the fact that we cannot leave the schools out of creating values or raising people of value. That is why we have a platform called character edge support service that is giving the schools curriculum, as well as teaching the character edge.

Olusola-Obasa called on the National Orientation Agency to stir every Nigerian to turn a new leaf and follow the new thinking, saying, “we need character orientation to begin at home, then in offices, in government, in schools and all.”

In her remarks, the Chief Executive Officer of Edumark, Mrs. Yinka Ogunde, said in the past parenting is the only thing that one has to learn on the job but now, many parents are reading up how to get it done properly.

“Deliberate parenting is very important; you don’t have to wait until you start having children. Parenting is much

more than ATM card, it must be planned for and the parents must be involved in the lives of their children and evolve the right type of style.”

She emphasised on family values, saying that parents must earn to walk their talk no matter how challenging the situation, adding that education should remain a key part of the family.

“The parents must be on the same page, as a mother too, you must have a level of self-esteem and ensure that you are able to achieve a work-life balance so that you can know what to do at the right time to give the children the best.”

The Chief Executive Officer of 14I worldwide, Mrs. Bunmi Oke emphasised team work, communication, trust, responsibility and accountability as rudiments of successful parenting, adding that in the course of doing so, the children must also be taught to take responsibility for their actions.

“You have to make up your minds that you want to be great parents, you have to connect with your children and learn to deal with problems as they come, as well as endeavor to be there and pray for them.”

The Editor, Saturday Punch, Mrs. Bisi Deji-Folutile, stressed the need for parents to teach their children the basic values, saying that it takes a lot of sacrifice and hard work.

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WEDNESDAY, AUGUST 31, 2016, • T H I S D AY

CITYSTRINGS Imo Police Shut Down Criminals

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

Criminals in and around Imo State have not been allowed an inch to perpetrate their evil in recent times, courtesy of the ever-ready eagle eye of the state Police Command, writes Amby Uneze

Imo CP Lakanu (2nd right), parading some suspected criminals in Owerri

T

he dexterity of the Imo State Police Command led by the indefatigable and agile Commissioner of Police, CP Taiwo Lakanu has not left any stone unturned in seeing that they fight all criminal elements in the state to standstill. It is on good record that right from the posting of CP Lakanu to the state last year, fighting criminals remained the major policing thrust.

The command has lived up to expectations, in line with the commitment of the CP who at inception promised to rout men of the underworld, kidnappers and other hoodlums who had hitherto taken the state as an abode of hideout. From findings, the successes so far recorded by the command in about one year had earned her the accolade of Imo people.

Not only that the Imo State Police Command rounded up over 60 suspects that were involved in various criminal activities ranging from kidnapping, murder, armed robbery and fraud, the command had not relented in making sure that every part of the state is safe.

At a recent briefing in Owerri during a parade of suspects, Lakanu said that the effort was in line with the determination of his command to consolidate on the continued ridding of the state of all criminal activities and their perpetrators.

Among those arrested were the kidnappers of the Channel television correspondent in Imo as well as the kidnappers of another

journalist that works with Excel Magazine along Emekuku-Umuahia road. They include Chimezie Clement (31), Lucky Duru (24), Nwaneri Uzochukwu (28), Nnamdi Ndukwu (35), Favour Chukwuemeka (28), Chinenye Elekwuya (31), John Ikorobu, and Njemanze Obuneke (29).

The Police also paraded three suspects caught in the vandalisation of MTN mast at Oleme Amaifeke, in Orlu local government and the pick-up van and 22 battery chargers belonging to MTN were recovered from them. They are Odey Augustine (22) and Nweke Stephen (25).

Not only that the Imo State Police Command rounded up over 60 suspects that were involved in various criminal activities ranging from kidnapping, murder, armed robbery and fraud, the command had not relented in making sure that every part of the state is safe

Lakanu who decried the activities of some, who call themselves pastors, paraded one Pastor Delight Arinze Okorie of Watered Ground Ministry, Atta in Nnenasa in Njaba Local Government Area of the state. This pastor was said to have attempted to murder one of his worshippers in the guise of praying for her where he attempted to kill the lady and drove away with the lady’s Lexus jeep SUV. Other suspects were two brothers and their friend, who kidnapped and subsequently killed their friend, one Ugonna Martins Ukaegbu, a student of the Federal Polytechnic, Nekede, Owerri. They are Udodi Eke (23), Chukwudi Eke (24) and Chidiebere Umezurike (20).

Also an attempt to kidnap Bishop Ezeugo Ekewuba, General Overseer of Overcomers Christian Mission Inc. Along Avu road was aborted as the Police succeeded in recovering of one AK 47 riffle with three magazines loaded with 58 rounds of ammunition.

The CP warned hospitals and other health facilities to be in the watch out for those who ran away with bullet wounds to report such cases to the police. He also assured Imolites of the preparedness of the Police command to wrestle with the criminals no matter where they may hide.

In a similar effort, the command has nabbed a five-man gang of armed robbers who invaded a victim’s compound at Umukabia Nkwerre and carted away properties and cash. Items also recovered from the gangsters included

a Nissan Xterra Jeep with Reg. No KSF 829, assorted electronic gadgets, a generator set and handsets.

Parading the suspects among 30 others, the state Commissioner of Police, Lakanu told newsmen at the command headquarters, Owerri, that a team was quickly dispatched to the scene where the kingpin, one Chinoso Okoroafor from Ihiala, Anambra State, James Eze, native of Oguta, Onyeka Uchendu from Ubomiri, Mbaitoli LGA and Tina Damian wife of one of the suspects were arrested.

He said that another coordinated effort of operatives of the command yielded fruit when the team arrested one Charles Anayo Obi, native of Amadaba Ibiasoegbe in Oru West LGA and member of a notorious three-man gang of kidnappers believed to be involved in series of kidnap/armed robbery incidents in the state.

According to him, the suspect has made useful statement to the police disclosing the identity of other members of the gang still at large. Also, the police boss said a member of a gang of four robbery suspects who robbed one Isaac Ugochukwu Mbika of his Sienna car was arrested. He said that the arrested suspect, Godwill Amaefule (36) from Port Harcourt, Rivers State “is now assisting the police to track down other fleeing members of the gang.

He also disclosed that a gangster who specialises in robbing and raping victims

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WEDNESDAY, AUGUST 31, 2016, • T H I S D AY

CITYSTRINGS

at Akwakuma was smashed through a well coordinated effort of the police. He said that one of the nabbed suspects, Chukwudi Nwoke (24) from Isu in Nwangele LGA had made useful statements that would assist to trace other members still at large.

Lakanu also said that the police arrested a suspected Army private, Arinze Onyeyeri (25) who was nabbed along Ukwuorji Umuaka road leading to Onitsha expressway with one army T-shirt, one army cap, one army uniform and Army handkerchief and belt.

At the back of these milestones, one therefore, wonders the import of the U.S. government’s inclusion of Imo State as one of the 20 states in the federation that is a security risk to her citizens. Media report last week carried a screaming headline “U.S. declares Borno, Adamawa, Rivers, Imo, 16 other states unsafe.”

This declaration had however been refuted by the police, describing it as false the inclusion of Imo State as one of the states with security challenges.

Although, in a release signed by the command’s Police Public Relations Officer, DSP Andrew Enwerem had stated that the inclusion of Imo State in U.S. latest travel advisory to her citizens as unsafe was not true of the present security situation in the state, he stated that though there were some security challenges in the past which were not as bad as portrayed by the report.

He observed that since the assumption of duty of the present Commissioner of Police, Lakanu some 11 months ago, he had diligently and vigorously curtailed the wave of crime and criminality in the state with the adoption of various strategies and with his wealth of experience in crime fighting.

According to him, “As a result of the sterling achievements recorded by the State Police Command, the immediate past Inspector General of Police, IGP Solomon E. Arase during his visit few weeks before his retirement, appreciated and commended the Police Command for their successful achievements in crime fighting.

“Also, the Imo State House of Assembly passed a vote of confidence on the Commissioner of Police and the entire Imo Police Command for their determination and concerted efforts in dealing with the crime situation in the state,” he said.

The command noted with optimism the declaration of the American Consular-General in Nigeria, John F. Bray when he visited the state on February 24, 2016 and during his courtesy visit to the Commissioner of Police, he specifically commended the Police Command for their great achievements in ensuring peace and stability in the state.

According to the command, it is therefore not an exaggeration to say that Imo State remains the hub of academic, hospitality, entertainment and tourists destination of the South Eastern Nigeria. It is a well known fact that there is no clime without crime even in U.S. where explosions and killings occur on regular basis.

The command said that the state remains one of the safest states in Nigeria where economic activities and social lives are thriving without problems and advised the people of the state and indeed the general public to disregard the publication which does not reflect the true

The Imo State House of Assembly has passed a vote of confidence on the Commissioner of Police and the entire Imo Police Command for their determination and concerted efforts in dealing with the crime situation in the state

CP Lakanu addressing Imo Eminent Persons Forum in Owerri

Traditional rulers, religious leaders and Imo citizens, at the inauguration of Eminent Persons Forum in Owerri...recently

state of security affairs in the state.

As a result of the feat the command has achieved, Imo citizens comprising traditional rulers, the clergy, business men and women had recently commended the Inspector General of Police and the State Commissioner of Police, Lakanu for the new approach in addressing security challenges in the country and the state in particular.

Speaking at the official inauguration of the Eminent Peoples Forum in Owerri, penultimate week by the CP, the citizens vowed to support any move initiated by the command to fight crime in the society Making his contributions at the event, the Chairman of Council of Traditional Rulers in Imo, Eze Samuel Ohiri, said the forum would be a great tool to fight crime, even as he pledged total support of traditional institution in helping police in her effort to rid the society of all forms of criminality.

“This forum is a welcome development because it will help in fighting and addressing security challenges in the country. Security is

everybody’s business, but the members of this forum will distinguish themselves in crime control,” he said.

Ohiri also lauded CP Lakanu for his approach in combating criminalities and maintaining relative peace in Imo, saying “since the present Commissioner of Police took over the state police command, there have been relative peace in Imo and we will continue to support him.”

Speaking in the same vein, the State Chairman of Christian Association of Nigeria (CAN), Bishop. Stanford Nwogu, said the clergy has a lot of role to play to ensure a peaceful society.

Nwogu believed that the initiative will go a long way in addressing security challenges in the country. “This forum cut across stakeholders in the society and we believe strongly that with the forum, security challenges will be brought to barest minimum,” he said.

On his part, Lakanu said the essence of the IGP’s initiative was for the eminent persons in the society to collaborate with police in the fight against crime. He charged members of the forum to be proactive especially in

reorienting and sensitising the public on the need to shun crime.

“We want every member of this forum to contribute and carry out serious campaign against criminalities,” he said.

The Chairman of Police Community Relations Committee, Mr. Chima Chukwuyere, said the forum would straighten community policing in the country as he promised that the PCRC members have partnered well with the police in Imo but "we will show more commitment to the forum to ensure crime free society.”

The National Leader of Youth Assembly of Nigeria, Mr. Chukwubuike Godstime, said government should ensure that more jobs are created for Nigerian youths. He said the youths are majorly involved in different kinds of crimes due to unemployment problem.

“Government should ensure that youths are engaged in one job or the other to make them think less in participate in criminalities,” he said.

The forum’s inauguration was attended by traditional rulers, the clergy men, civil society groups, youth’s organisations and market traders.

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T H I S D AY WEDNESDAY AUGUST 31, 2016

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WEDNESDAY AUGUST31, 2016 • T H I S D AY

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INTERNATIONAL Earthquake: Italy to Hold Mass Funeral as Search for Bodies Continues

email:foreigndesk@thisdaylive.com

Italy is to hold mass funeral for earthquake victims after protests by bereaved relatives,

as crews continued to dig for bodies under mounds of rubble. Family members

Chinese Embassy in Kyrgyzstan Hit by Suspected Suicide Car Bomb A suspected suicide car bomber rammed the gates of the Chinese embassy in the Kyrgyz capital, Bishkek, yesterday, killing the attacker and wounding at least three other people, officials said.

Officials from both countries described the assault as a terrorist act, and Kyrgyz President Almazbek Atambayev ordered the government to take extra counter-terrorism measures in the capital and regions, his office said in statement.

China condemned the attack and urged Kyrgyz authorities to “quickly investigate and determine the real situation behind the incident.

“China is deeply shocked by this and strongly condemns this violent and extreme act,” foreign ministry spokeswoman Hua Chunying told a regular news briefing in Beijing.

The ministry later said China would “resolutely strike against all forms of terrorism” and protect the safety of its people and government organizations overseas.

A Kyrgyz Interior Ministry spokesman said the car exploded inside the compound. Police cordoned off the embassy and adjacent area, and the GKNB state security service were investigating the bombing that occurred at about 10:00 a.m. (0400 GMT).

Three embassy staff suffered minor injuries and had been taken to hospital, but no organization claimed responsibility, Hua said.

China’s state news agency Xinhua reported that five people were wounded: two security guards and three Kyrgyz nationals working at the embassy.

Authorities in Kyrgyzstan, a mostly Muslim former Soviet republic of 6 million people, routinely detain suspected militants they accuse of being linked to Islamic State, which actively recruits from Central Asia.

A Turkish official said in June that one of three suspected Islamic State suicide bombers involved in the deadly attack on Istanbul’s main airport was a Kyrgyz national.

An anti-Chinese militant group made up of ethnic Uighurs - a Turkic-language speaking, mainly Muslim people living in China’s Xinjiang region - is also believed to be active in Central Asia.

Some security experts have questioned the group’s cohesiveness, however, and say China’s policies in Xinjiang, where hundreds have died in recent years in unrest blamed

by Beijing on Islamist extremists, have contributed to the unrest.

In 2014, Kyrgyz border guards killed 11 people understood to be members of that group who had illegally crossed the Chinese-Kyrgyz border.

Attacks on Chinese missions abroad are rare but in 2015, an Islamist militant attack on a hotel in Mali killed three Chinese citizens, and in Pakistan, Chinese workers have occasionally been targeted by what police say are nationalists opposed to Beijing’s plan to invest tens of billions of dollars in a new trade route to the Arabian Sea. That is part of China’s “One Belt, One Road” project to open new markets via Central Asia, South Asia and the Middle East.

Car Bomb outside Somali President’s Palace Kills 10 At least 10 people, including soldiers and civilians, were killed in Somalia’s capital, Mogadishu, yesterday when a car bomb claimed by al Shabaab exploded outside the Presidential Palace and also damaged two nearby hotels, an official said. Information Minister Mohamed Abdi Hayir told state radio that a meeting of security officials was under way inside one of the hotels, the SYL, at the time of blast and that one minister and some state radio journalists were injured in the attack.

The hotel is frequented by government officials and police said it believed the facility was the likely target. The SYL and another hospitality facility, both located near the Presidential Palace, were partially destroyed by the blast, Major Mohamed Ali, a police officer, told Reuters. “The blast killed 10 (people) including soldiers and civilians and 30 others were wounded,” Ali said.

Gunfire could be heard after the blast and a huge cloud of smoke

rose above the palace, outside which were the remnants of the car and splattered blood, according to a Reuters witness. Al Shabaab’s Radio Andaluz said the Islamist group was behind the attack and their military operations spokesman, Sheikh Abdiasis Abu Musab, said the attack had killed 15 soldiers and “injured many others including a lawmaker”. Seeking to impose its own harsh form of Islam, al Shabaab, wants to topple the Western backed government in Mogadishu and also push out the 22,000-strong African Union mandated AMISOM peace keeping force backing it.

The group was pushed out of Mogadishu by AMISOM in 2011 but have remained a serious threat, launching frequent attacks aimed at overthrowing the government. The militants have claimed responsibility for several explosions in Mogadishu, including a car bomb and gun attack last week at a popular beach restaurant in the capital that killed 10 people.

had objected to plans to hold the ceremony in an aircraft hangar in the town of Rieti where the bodies had been stored. The funeral will instead be held in Amatrice, the place hardest-hit by last week’s 6.2-magnitude quake.

Of the 292 confirmed dead, 231 were found in Amatrice, which was left in ruins. A number of foreigners were among the dead, including 11 Romanians and three Britons.

Prime Minister Matteo Renzi, President Sergio Mattarella and Romanian Prime Minister Dacian

Ciolos were scheduled to attend the funeral at 6 p.m. (1600 GMT), the Civil Protection Agency said.

Tuesday’s funeral is for some three dozen of the victims. Many of those who died in Amatrice on Aug. 24 were not residents and their funerals are being held in their hometowns. Workers used heavy machinery to gravel over an area on Amatrice’s outskirts where the ceremony will take place within sight of shattered buildings.

Marquees were still being

erected for the funeral ceremony as the first caskets arrived. A hearse and a van carrying at least four coffins had to be turned away until the work could be completed.

In the center of town emergency workers used mechanical diggers and bulldozers to search for bodies, an unknown number of which may still be trapped beneath dust and debris. It is the second state-sponsored funeral in three days. On Saturday rites were held for victims of the quake from the adjoining

Marche region. Amatrice is in the region of Lazio.

Investigators are looking into work done on the bell tower in Accumoli, which was recently restored but collapsed during the quake onto the home of a family of four, killing them all. Italy sits on two seismic faultlines. Many of its buildings are hundreds of years old and susceptible to earthquake damage. Almost 30 people died in earthquakes in northern Italy in 2012 and more than 300 in the city of L’Aquila in 2009.

STRATEGIC MEETING

A cross section of members of the ECOWAS Commission at the 11th Strategic Planning Coordination Committee meeting in Lagos... Tuesday

US, India Pledge to Deepen Security, Commercial Ties The United States and India yesterday pledged to deepen security and commercial ties at the start of an annual U.S.-India strategic dialogue in which tension with Pakistan over the disputed Kashmir region will also be discussed.

U.S. Secretary of State John Kerry and Commerce Secretary Penny Pritzker led the U.S. delegation in talks with senior Indian government officials in the capital New Delhi. “It couldn’t come at a more important moment,” Kerry said in his opening remarks.

“In both sectors, security and economics, we have room to be able to further grow, and to expand our two-way trade and investment, but also to resolve our security problems in doing that.”

Kerry cited cyber-security and energy as areas where both countries could expand cooperation. He said the sides had reached an understanding on financing to help India meet its ambitious renewable energy targets.

“Our plate between our two nations is as full now as it has ever been,” added Kerry, who was attending the second Strategic and

Commercial Dialogue that will also be the last of the Barack Obama presidency.

India’s Minister of External Affairs, Sushma Swaraj, said she hoped the next U.S. president would continue the dialogue that also seeks inputs from companies, which this year included e-commerce giant Amazon and wireless technology firm Qualcomm.

India is keen to attract foreign investment to back Prime Minister Narendra Modi’s “Make in India” initiative while foreign investors are keen for reassurance that Asia’s third-largest economy is becoming an easier place to do business.

Finance Minister Arun Jaitley briefed U.S. CEOs on a planned Goods and Services Tax that the government hopes to introduce next year and would transform the market of 1.3 billion people into a single market for the first time.

In a meeting with National Security Adviser Ajit Doval earlier, Kerry discussed regional security challenges in South Asia, as well counter-

terrorism efforts, said U.S. State Department spokesman Mark Toner. A senior U.S. official said Kerry would urge Modi in a meeting on Wednesday to open talks with neighbouring Pakistan to resolve tension over Indian-ruled Kashmir.

Kashmir is at the centre of a decades-old rivalry between nuclear-armed India and Pakistan, which also rules its northern part and backed an insurgency in the late 1980s and 1990s that Indian security forces largely crushed.

Dozens of people have been killed in violent protests in Kashmir since July 8, when security forces killed a field commander of Pakistan-based Islamist militant group who enjoyed widespread support in the Muslim-majority region.

Modi has said India will not bow to terrorism and accused Pakistan of glorifying it in his annual Independence Day speech on Aug. 15, in which he also raised the rhetorical stakes by highlighting concerns about human rights in restive regions of Pakistan.

New Delhi has rejected Pakistan’s invitation to hold

talks on the future of Jammu and Kashmir, India’s northernmost state, saying it is an integral part of the nation. It also says any talks should address crossborder terrorism in Indian-ruled Kashmir - something Pakistan denies any role in.

“We have a long-standing policy of encouraging and advocating for great dialogue between the two countries on addressing areas of difference, and that continues to be our position,” a senior U.S. official said before the talks.

“But we have also underscored that combating terrorism is a high priority for the United States in its bilateral relations with all of the countries in the region,” the official added.

Afghanistan would also be discussed, the official said, amid closer ties between India and Afghanistan, which is likely to aggravate fears in Pakistan of being wedged between two hostile neighbours. India has provided a little over $2 billion in economic assistance to Afghanistan in the last 15 years and said recently it would deliver more arms to Afghanistan.

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T H I S D AY • WEDNESDAY, AUGUST 30, 2016

BUSINESS/MONEYGUIDE

GIABA Seeks Greater Collaboration in Fight against Money Laundering, Others Obinna Chima The Director General of the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), Mr. Adama Coulibaly has highlighted the importance of comprehensive stakeholder engagement in Anti-money laundering and the combating of the financing of terrorism (AML/CFT) in West Africa.

The GIABA boss said particular attention should be paid to the fight against terrorism financing to address the concerns of growing terrorism in the region. According to a statement, Coulibaly made this call while delivering an address at a 3-day “Regional Stakeholders Forum on Emerging Global AML/CFT Issues and Implications for GIABA Member

States,” that took place in Saly, Senegal recently. He said the need for peace in the region cannot be overemphasised, and brought to light the level of advocacy missions embarked upon by GIABA leadership to mobilise authorities at the highest level in member States.

He noted that such advocacy missions are meant to ensure adequate compliance to global AML/CFT standards and avoid heavy international sanctions that may result from non-compliance. He also called for the need to carry every stakeholder along in the preparation for the second round of Mutual Evaluation exercises of GIABA member States.

He concluded by calling on all stakeholders to expand support and commitment to GIABA and its work to build a peaceful

and prosperous region.

In their goodwill messages, the Speaker of the ECOWAS Parliament, H.E. Moustapha Cisse Lo and the President of ECOWAS Community Court of Justice, Hon. Justice Jerome Traore both expressed their solidarity to GIABA and promised support for GIABA in their individual capacities.

Particularly, the Speaker highlighted the specific role of Parliament in legislation at various member States and pledge commitment to work with GIABA to rid the region of these deleterious crimes. The Dean of the ECOWAS ambassadors accredited to Senegal also expressed the commitment of the Diplomatic Corps to activities of GIABA and the fight against Money Laundering and Terrorist Financing.

NEXIM Bank, Bauchi Move to Boost Non-oil Sectors The acting Chief Executive Officer of NEXIM Bank, Mr. Bashir M. Wali, recently met with the Governor of Bauchi State, Mohammed Abdullahi Abubakar on how to explore opportunities in export-oriented investments in agro-processing, solid minerals and solid minerals, especially under the N500billion Export Stimulation Facility (ESF) and the N50 billion Export Rediscounting and Refinancing Facility (ERRF).

Welcoming Wali and his team, the state governor provided a snapshot of Bauchi State, especially its resources and other potential.

According to Governor Abubakar, Bauchi State covers a total land area of 49,259.01 square kilometres which represents about 5.3 per cent of Nigeria’s total land mass, making it one of the largest states in the country.

A statement further quoted him to have informed Wali that agriculture is the mainstay of over 80 per cent of people who reside in both urban and rural areas with products ranging from maize, rice, millet, groundnut and guinea corn.

Additionally, cattle and other livestock are reared at a commercially viable level.

In terms of solid minerals, the governor indicated that the state has commercial mineral reserves comprising of Amethyst, Gypsum, Lead/Zinc, Uranium, Limestone, Kaolin, Gypsum, Antimony, Iron Ore, Gold, Marble, Columbite and zinc, precious stones like Sulphur, Amities and Aquamarine among others. In addition to this, Bauchi has a manufacturing sector covering Iron and Steel, Water, Ceramics, Food and Beverages etc.

The governor, however,

identified certain constraints that have facilitated the commercial exploration of the solid minerals in the State. These include the issues of licensing - considering that solid minerals is on the exclusive list; the paucity of data in terms of certification of available deposits; and the need to efficiently organise artisanal mining as well as establish beneficiation centres to boost the solid mineral value-chain in the State. On his part, Wali informed the governor about the recently launched N500 billion Export Stimulation Facility (ESF) and the N50 billion Export Rediscounting and Refinancing Facility (ERRF) which were provided as intervention funds by the Central Bank of Nigeria (CBN) as part of efforts of the federal government to address the persistent overdependence of the economy on revenue from crude oil export.

FCMB Supports Culture,Tourism First City Monument Bank (FCMB) Limited has explained that its continuous support of the Ojude Oba Festival was borne out of its commitment to celebrate and preserve Nigeria’s cultural heritage, while also boosting the tourism sector in line with the government’s on-going drive to diversify the country’s economy.

Consequently, the bank has assured that its participation in this year’s edition of the Festival, which holds in Ijebu-Ode, Ogun state, on Wednesday, September 14,

2016, will be grand, exciting and rewarding for the thousands of people within and outside the country that would grace the fiesta. FCMB has in the past 10 years continued to play a significant role in ensuring the success of the Festival.

A statement from the Group Head, Corporate Affairs of FCMB, Mr. Diran Olojo, reiterated this at a press conference organised by the Ojude Oba Festival Planning Committee held at Ijebu-Ode on August 29, 2016. The Ojude Oba (which in Ijebu dialect means, the

king’s fore-court or frontage) is a major festival in Nigeria that began over 100 years ago.

In a goodwill message to the Awujale of Ijebuland, Oba (Dr.) Sikiru Adetona on the occasion of this year’s Ojude Oba Festival, the Chief Executive Officer of FCMB, Mr. Ladi Balogun, congratulated the monarch for upholding the values of Ijebuland and raising the status of the event over the years. He stated that FCMB is committed to the longevity of the Ojude Oba Festival, and was proud to be associated with it.

FirstBank Partners NBCC on MSMEs’Support FirstBank of Nigeria Limited said it has gone into a partnership with the Nigerian-British Chamber of Commerce (NBCC) to jointly host a micro, small and medium scale enterprises (MSME) workshop with the theme: Fundamentals of Building a Sustainable Business.

The two day workshop will take place on the 1st and 2nd of September, 2016 in Lagos.

The workshop is designed to boost participant’s capacity and creating value for MSMEs given the pivotal role they play in modern economies in areas

of job creation and significant contribution to the Gross Domestic Product (GDP).

“FirstBank has over the years, emphasized the fact that Africa’s economies cannot move forward if MSMEs and budding entrepreneurs are continuously starved of the right knowledge and skills set to grow their businesses. As a nation builder, the bank is intensifying support for MSMEs through a number of initiatives geared towards raising their level of competitiveness in a challenging business environment,” the bank

stated. Key areas of discourse at the workshop will include financial windows available to MSMEs and how to access them, strategy development and implementation for small businesses, sustainability opportunities for small businesses, and financial management for growing businesses among others. FirstBank would also provide facilitators from senior members of staff who are proficient in the business of MSMEs to proffer practical solutions on business growth and development.

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

MARCH 2016 Broad Money (M2)

20,470,436.00

-- Narrow Money (M1)

9,040,817.68

---- Currency Outside Banks

1,441,365.03

---- Demand Deposits

7,599,452.65

-- Quasi Money

11,429,618.32

Net Foreign Assets (NFA)

5,551,714.27

Net Domestic Assets(NDA)

14,918,721.73

-- Net Domestic Credit (NDC)

22,664,815.74

---- Credit to Government (Net)

3,782,578.01

---- Memo: Credit to Govt. (Net) less FMA

4,991,246.39

---- Memo: Fed. and Mirror Accounts (FMA)

-1,208,668.38

---- Credit to Private Sector (CPS)

18,882,237.73

--Other Assets Net

-7,746,094.02

Reserve Money (Base Money)

5,758,634.07

--Currency in Circulation

1,811,090.48

--Banks Reserves

3,947,543.59 • Source - CBN

MANAGED FUNDS Initial Price (N) Stanbic Balanced Fund

Buying Price(N)

Selling Price

1,660.29

1,685.29

Stanbic IBTC NEF

1,000.00

11,002.32

11,326.67.11

Stanbic SIBond

20

120.47

120.47

Stanbic IBTC Ethical

1

1.10

1.13

Stanbic IBTC GIF

142.90

143.38

UBA Balanced Fund

1.2563

1.2493

UBA Bond Fund

1.3443

1.3443

UBA Equity Fund

0.8205

0.8074

UBA Money Market Fund

1.1510

1.1510

ARM Aggressive Growth Fund

N13.0544

N13.4480

ARM Discovery Fund

N288.2515

N296.9425

ARM Ethical Fund

N22.5268

N23.2060

ARM Money Market Fund

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

OPEC DAILY BASKET PRICE AS AT MONDAY 29, AUG 2016 The price of OPEC basket of fourteen crudes stood at $45.44 a barrel on Monday, compared with $45.75 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), Rabi Light (Gabon), Minas (Indonesia), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

SOURCE: OPEC headquarters, Vienna

43

T H I S D AY • WEDNESDAY AUGUST 31, 2016

Nigeria’s top 50 stocks based on market fundamentals

30-Aug-16

29-Aug-16

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

01 Dangote Cement Plc

175.50

173.50

1.15%

2,990,609,049,577.50

9.56

18.35

5.52

4.56%

4.40

02 Nigerian Breweries Plc

140.00

138.27

1.25%

1,110,074,124,320.00

4.50

31.14

3.71

2.57%

6.82

03 Guaranty Trust Bank Plc

26.10

25.95

0.58%

768,153,777,746.40

4.20

6.22

2.14

6.78%

1.70

825.00

825.00

0.00%

653,941,407,900.00

19.41

42.50

3.94

3.52%

18.59

05 Zenith Bank Plc

14.95

15.30

-2.29%

469,377,582,100.70

3.10

4.82

1.12

12.04%

0.76

06 Lafarge Africa Plc

58.00

58.00

0.00%

264,184,304,980.00

-6.71

-8.64

1.19

5.17%

1.89

175.00

177.00

-1.13%

227,934,193,025.00

4.22

41.47

1.54

1.97%

5.32

08 Ecobank Transnational Incorporated

11.50

11.35

1.32%

211,019,838,972.50

0.23

50.05

0.39

5.39%

0.35

09 Presco Plc

41.50

40.49

2.49%

164,774,797,367.50

0.54

77.37

2.37

3.13%

4.03

10 Access Bank Plc

5.58

5.60

-0.36%

161,418,081,700.98

2.56

2.18

0.47

9.86%

0.38

11 United Bank for Africa Plc

4.34

4.45

-2.47%

157,453,144,237.48

1.66

2.61

0.50

13.82%

0.39

275.00

275.00

0.00%

152,160,336,075.00 -14.43

-19.06

1.63

5.79%

0.40

13 Unilever Nigeria Plc

39.00

39.75

-1.89%

147,548,553,750.00

0.46

84.34

2.42

0.13%

16.56

14 Stanbic IBTC Holdings Plc

14.50

14.50

0.00%

145,000,000,000.00

2.04

7.12

1.23

0.69%

1.29

15 Guinness Nig Plc

93.50

93.50

0.00%

140,800,545,578.00

3.70

25.29

1.25

0.00%

3.17

16 FBN Holdings Plc

3.00

2.97

1.01%

107,685,878,376.00

0.30

9.84

0.21

5.00%

0.18

17 Total Nigeria Plc

241.92

241.92

0.00%

82,137,122,807.04

31.13

7.77

0.34

5.79%

3.89

18 7-Up Bottling Comp. Plc

127.99

116.98

9.41%

81,989,160,560.37

3.75

34.14

0.92

1.72%

3.18

19 Dangote Sugar Refinery Plc

6.50

6.50

0.00%

78,000,000,000.00

1.05

6.19

0.65

7.69%

1.31

20 International Breweries Plc

19.76

19.76

0.00%

65,094,365,772.80

0.17

113.27

2.61

1.27%

5.28

21 Julius Berger Nig. Plc

48.39

48.39

0.00%

63,874,800,000.00

0.24

199.88

0.62

3.10%

2.85

170.78

162.65

5.00%

61,582,458,844.36

17.69

9.65

0.75

4.22%

3.58

4.89

4.98

-1.81%

58,849,286,391.66

-3.46

-1.41

0.31

15.34%

0.43

20.01

20.01

0.00%

52,510,986,111.87

6.81

2.94

0.14

10.00%

0.52

1.11

1.12

-0.89%

42,980,307,141.75

-0.37

-2.98

0.95

0.00%

0.57

26 U A C N Plc

20.50

20.50

0.00%

39,377,719,933.50

2.44

8.40

0.55

4.88%

0.53

27 Okomu Oil Palm Plc

36.00

36.00

0.00%

34,340,760,000.00

4.60

7.83

2.79

0.28%

2.21

28 Sterling Bank Plc

0.96

1.00

-4.00%

27,638,801,400.96

0.31

3.11

0.26

9.38%

0.33

29 Fidelity Bank Plc

0.93

0.97

-4.12%

26,935,204,693.56

0.39

2.39

0.19

17.20%

0.15

30 Wema Bank Plc

0.69

0.66

4.55%

26,616,381,595.89

0.06

10.94

0.54

0.00%

0.56

31 Cadbury Nigeria Plc

14.00

14.00

0.00%

26,294,828,560.00

0.83

16.95

0.95

9.29%

2.12

32 Diamond Bank Plc

1.05

1.07

-1.87%

24,318,408,416.40

0.11

9.52

0.12

0.00%

0.11

33 Custodian And Allied Insurance Plc

3.95

3.91

1.02%

23,233,363,570.25

0.76

5.20

0.70

3.54%

0.83

34 Glaxo Smithkline Consumer Nig. Plc

18.51

18.51

0.00%

22,135,673,792.88

-2.54

-7.29

0.76

1.62%

2.42

8.00

7.90

1.27%

21,195,507,024.00

0.89

9.03

1.17

6.88%

3.07

30.09

30.09

0.00%

21,063,000,000.00

2.36

12.76

3.03

3.82%

14.43

37 Mansard Insurance Plc

2.00

2.00

0.00%

21,000,000,000.00

0.27

7.36

1.09

2.50%

0.99

38 FCMB Group Plc

1.04

1.04

0.00%

20,594,819,212.24

0.61

1.70

0.13

9.62%

0.12

39 PZ Cussons Nigeria Plc

18.20

18.20

0.00%

18,200,000,000.00

4.14

4.39

1.37

0.55%

0.54

40 Honeywell Flour Mill Plc

1.40

1.40

0.00%

11,102,276,721.20

-0.40

-3.46

0.23

11.43%

0.67

41 Continental Reinsurance Plc

0.96

0.95

1.05%

9,957,834,539.52

0.33

2.92

0.48

12.50%

0.51

42 Unity Bank Plc

0.78

0.76

2.63%

9,117,683,594.76

0.54

1.44

0.14

0.00%

0.11

43 Skye Bank Plc

0.63

0.60

5.00%

8,744,589,888.30

-2.93

-0.21

0.05

47.62%

0.08

44 Cement Co. Of North.Nig. Plc

6.00

6.00

0.00%

7,540,066,596.00

0.44

13.54

0.68

1.67%

0.70

45 Wapic Insurance Plc

0.50

0.50

0.00%

6,691,369,126.00

0.11

4.62

0.88

6.00%

0.43

46 UACN Property Development Co. Limited

3.53

3.53

0.00%

6,067,187,482.35

-0.05

-67.70

1.80

19.83%

0.17

47 Nigerian Aviation Handling Company Plc

3.50

3.23

8.36%

5,684,765,625.00

0.15

22.69

0.71

5.71%

0.92

48 Resort Savings & Loans Plc

0.50

0.50

0.00%

5,664,866,202.00

4.68

0.11

0.02

0.00%

1.89

49 AIICO Insurance Plc

0.64

0.63

1.59%

4,435,330,867.20

0.26

2.45

0.14

7.81%

0.47

50 Fidson Healthcare Plc

1.70

1.70

0.00%

2,550,000,000.00

0.31

5.55

0.38

2.94%

0.40

04 Nestle Nigeria Plc

07 Forte Oil Plc.

12 Seplat Petroleum Dev. Co. Ltd

22 Mobil Oil Nig Plc 23 Oando Plc 24 Flour Mills Nig. Plc 25 Transnational Corporation Of Nigeria Plc

35 National Salt Co. Nig. Plc 36 Cap Plc

TOTAL

8,889,654,542,178.92

TOTAL MARKET CAP

9,442,494,827,918.56

% OF MARKET CAP Annotation - MA* = Simple Moving Average

94.15%

Table 1 Market Statistics Mkt Indicators NSE All Share Index NSE Market Cap (N'Trillion) Thisday BGL 50 Index Thisday BGL 50 Market Cap (N'Trillion)

Open 29-Aug-16

Close Change % 30-Aug-16

27,368.41 9.40

27,493.12 9.44

0.46 0.46

113.56 8.84

114.17 8.89

0.54 0.54

Table 3 Top 5 Gainers Stock

Open Close Change 29-Aug-16 30-Aug-16 %

7-Up Bottling Comp. Plc Nigerian Aviation Handling Company Plc Skye Bank Plc Mobil Oil Nig Plc Wema Bank Plc

116.98 3.23

127.99 3.50

9.41 8.36

0.60 162.65 0.66

0.63 170.78 0.69

5.00 5.00 4.55

Table 4 Top 5 Losers Stock

Open Close Change 29-Aug-16 30-Aug-16 %

Fidelity Bank Plc Sterling Bank Plc United Bank for Africa Plc Zenith Bank Plc Unilever Nigeria Plc

0.97 1.00 4.45 15.30 39.75

0.93 0.96 4.34 14.95 39.00

-4.12 -4.00 -2.47 -2.29 -1.89

Market reverses prior day’s loss, gains 0.46% Market pulse on the Nigerian Stock Exchange (NSE) today – Tuesday, August 30, 2016 was bullish as the market closed green today. This was further highlighted by positive performance from the NSE Sub sectors: Insurance and Consumer Goods (Save Banking and Oil & Gas). Trading activities increased in volume as 230.14 million shares worth N2.741 billion in 3,536 deals exchanged hands today. This is an increase from the 83.83 million shares worth N711.12 million in 2,279 deals exchanged on Monday. Topping in volume terms was Ecobank Transnational Incorporated, N.E.M Insurance Co (Nig) Plc and United Bank for Africa Plc while Ecobank Transnational Incorporated and Mobil Oil Nig Plc ended trading as the most active stocks in value terms.

The All Share Index (NSEASI) closed positive with a 0.46% (+124.71) increase to close at 27,493.12 from 27,368.41 the previous trading day. Market Capitalization appreciated in tandem to N9.44 trillion from N9.40 trillion of prior trading day. Similarly, the Thisday BGL 50 Index also followed suit with an increase of 0.54% to close at 114.17 from 113.56 recorded at the end of the previous trading day, while its market capitalization stood at N8.89 trillion from N8.84 trillion of the previous trading day.

A total number of 17 stocks gained on the bourse today while 18 stocks declined, 64 leaving stocks unchanged. 7-Up Bottling Comp. Plc emerged consecutively two days’ toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 9.41% to close at N127.99 per share. It was followed by Nigerian Aviation Handling Company Plc with a gain of 8.36% to close at N3.23 per share. Others on the gainers list include: Skye Bank Plc, Mobil Oil Nig Plc and Wema Bank Plc, while on the decliners’ list; Fidelity Bank Plc led with a loss of 4.12% to close at N0.93 per share. It was followed by Sterling Bank Plc with a loss of 4.00% to close at N0.96 per share. Others on the losers list include: United Bank for Africa Plc, Zenith Bank Plc and Unilever Nigeria Plc. REQUIRED DISCLOSURE This report has been prepared by BGL Plc. BGL Plc does and seeks to do business with companies covered in its research reports. As a result, the firm may have a conflict of interest that could affect the objectivity of this report. Investors should use this report as one of many other factors in making their investment decisions.

For more details go to www.thisdaylive.com

44

T H I S D AY • WEDNESDAY, AUGUST 30, 2016

MARKET NEWS

NSE Index Rises 0.46% as Market Rebounds on Bargain Hunting Goddy Egene and Nosa Alekhuogie The Nigerian equities market rebounded yesterday after opening on a bearish note on Monday. The market, which went down by 0.30 per cent on Monday, appreciated by 0.46 per cent yesterday on bargain hunting in bellwether stocks.

The Nigerian Stock Exchange (NSE) closed higher

at 27,493.12, while market capitalisation added N42.8 billion to settle at N9.44 trillion. Similarly, the volume and value of shares traded rose by 174 per cent and 285 per cent from 83.833 million shares valued at N711.123 million to 230.135 million shares worth N2.741 billion yesterday. A total of 17 stocks appreciated compared with 18 stocks that depreciated.

T H E MAIN BOARD

DEALS

MARKET PRICE

The positive session recorded for the day was largely buoyed by gains in the shares of Dangote Cement Plc, Nigerian Breweries Plc, Guaranty Trust Bank Plc, FBN Holdings Plc and Ecobank Transnational Incorporated.

However, Seven-Up Bottling Company Plc led the price gainers’ chart with 9.4 per cent to close at N127.99 per share, trailed by Nigerian

N I G E R I A N QUANTITY TRADED

STO C K

VALUE TRADED ( N )

Daily Summary as of 22/02/2016 Printed 22/02/2016 14:36:10.010

Daily Summary (Bonds) No Debt Trading Activity Daily Summary (Equities) Activity Summary on Board EQTY AGRICULTURE Crop Production OKOMU OIL PALM PLC. PRESCO PLC Crop Production Totals Livestock/Animal Specialties LIVESTOCK FEEDS PLC. Livestock/Animal Specialties Totals AGRICULTURE Totals CONGLOMERATES Diversified Industries A.G. LEVENTIS NIGERIA PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC. Diversified Industries Totals CONGLOMERATES Totals CONSTRUCTION/REAL ESTATE Infrastructure/Heavy Construction JULIUS BERGER NIG. PLC. Infrastructure/Heavy Construction Totals Real Estate Development UACN PROPERTY DEVELOPMENT CO. LIMITED Real Estate Development Totals CONSTRUCTION/REAL ESTATE Totals CONSUMER GOODS Beverages--Brewers/Distillers CHAMPION BREW. PLC. GUINNESS NIG PLC INTERNATIONAL BREWERIES PLC. NIGERIAN BREW. PLC. Beverages--Brewers/Distillers Totals Beverages--Non-Alcoholic 7-UP BOTTLING COMP. PLC. Beverages--Non-Alcoholic Totals Food Products DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC NASCON ALLIED INDUSTRIES PLC N NIG. FLOUR MILLS PLC. TIGER BRANDED CONSUMER GOODS PLC Food Products Totals Food Products--Diversified CADBURY NIGERIA PLC. NESTLE NIGERIA PLC. Food Products--Diversified Totals Household Durables VITAFOAM NIG PLC. Household Durables Totals Personal/Household Products P Z CUSSONS NIGERIA PLC. UNILEVER NIGERIA PLC. Personal/Household Products Totals CONSUMER GOODS Totals FINANCIAL SERVICES Banking ACCESS BANK PLC. DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED FIDELITY BANK PLC GUARANTY TRUST BANK PLC. SKYE BANK PLC STERLING BANK PLC. UNITED BANK FOR AFRICA PLC UNION BANK NIG.PLC. UNITY BANK PLC WEMA BANK PLC. Banking Totals Insurance Carriers, Brokers and Services AIICO INSURANCE PLC. CONTINENTAL REINSURANCE PLC CONSOLIDATED HALLMARK INSURANCE PLC LASACO ASSURANCE PLC. AXAMANSARD INSURANCE PLC N.E.M INSURANCE CO (NIG) PLC. UNITY KAPITAL ASSURANCE PLC WAPIC INSURANCE PLC Insurance Carriers, Brokers and Services Totals Micro-Finance Banks NPF MICROFINANCE BANK PLC Micro-Finance Banks Totals Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC CUSTODIAN AND ALLIED PLC FCMB GROUP PLC. STANBIC IBTC HOLDINGS PLC UNITED CAPITAL PLC Other Financial Institutions Totals FINANCIAL SERVICES Totals HEALTHCARE Pharmaceuticals FIDSON HEALTHCARE PLC

Aviation Handling Company Plc, which went up by 8.3 per cent. Skye Bank Plc and Mobil Oil Nigeria Plc chalked up 5.0 per cent apice, just as Wema Bank Plc and Unity Bank Plc appreciated by 4.5 per cent and 2.6 per cent respectively.

Presco Plc, AIICO Insurance Plc, ETI, NASCON Allied Industries Plc garnered 2.5 per cent, 1.5 per cent, 1.3 per cent and 1.2 per cent in that

6 6 12

30.00 34.00

12,629 11,640 24,269

374,530.15 421,345.20 795,875.35

19 19 31

1.25

1,078,511 1,078,511 1,102,780

1,358,964.30 1,358,964.30 2,154,839.65

5 68 13 86 86

0.77 1.13 20.47

33,500 6,740,423 65,995 6,839,918 6,839,918

25,070.00 7,635,453.96 1,344,425.15 9,004,949.11 9,004,949.11

13 13

41.50

31,970 31,970

1,409,214.78 1,409,214.78

5 5 18

5.20

28,901 28,901 60,871

154,716.48 154,716.48 1,563,931.26

6 24 7 98 135

2.85 118.85 20.00 99.00

190,900 53,000 15,200 429,541 688,641

528,079.00 6,201,924.95 293,757.00 42,728,789.84 49,752,550.79

9 9

168.50

166,476 166,476

28,285,937.95 28,285,937.95

54 38 6 12 1 29 140

5.61 19.00 1.37 6.86 6.65 1.27

2,120,306 314,421 40,000 119,863 433 3,285,739,119 3,288,334,142

11,610,520.13 5,953,792.96 55,716.00 842,442.48 2,736.56 4,074,348,894.07 4,092,814,102.20

11 54 65

17.86 700.00

18,825 98,360 117,185

329,518.50 68,567,962.00 68,897,480.50

11 11

4.46

99,050 99,050

420,455.00 420,455.00

13 21 34 394

21.90 28.00

36,887 133,117 170,004 3,289,575,498

820,034.75 3,737,067.92 4,557,102.67 4,244,727,629.11

82 51 21 25 200 41 16 147 11 15 67 676

4.10 1.49 15.60 1.21 16.70 1.07 1.76 2.95 5.30 0.63 0.98

3,962,506 2,163,396 278,470 790,900 4,847,312 1,969,858 1,204,932 8,586,418 39,752 501,617 5,920,564 30,265,725

16,210,255.82 3,314,106.88 4,136,459.40 958,864.34 80,963,793.44 2,115,552.11 2,087,767.85 25,302,954.71 205,645.40 316,018.71 5,813,502.17 141,424,920.83

14 8 2 3 7 10 1 1 46

0.80 0.90 0.50 0.50 2.06 0.76 0.50 0.50

200,107 276,500 5,004,000 1,000,000 351,540 327,285 37,708,135 10 44,867,577

160,838.67 251,350.00 2,502,000.00 500,000.00 720,728.80 245,325.31 18,854,067.50 5.00 23,234,315.28

1 1

1.08

4,760 4,760

4,950.40 4,950.40

31 7 105 7 20 170 893

2.46 4.00 0.85 14.15 1.31

1,149,464 27,041 31,257,120 38,035 708,255 33,179,915 108,317,977

2,830,722.84 104,002.06 26,613,309.20 537,985.34 931,556.31 31,017,575.75 195,681,762.26

27

2.69

614,065

1,572,223.05

order. Nigerian Breweries Plc and Dangote Cement Plc appreciated by 1.2 per cent and 1.1 per cent respectively.

Conversely, May & Baker Nigeria Plc led the price losers, falling by 8.9 per cent.

Conoil Plc trailed with a loss of 4.9 per cent, followed by Cutix Plc, which shed 4.8 per cent. Fidelity Bank Plc, Sterling Bank Plc and African Prudential Registrars Plc went

down by 4.1 per cent, 4.0 per cent and 3.7 per cent in that order. Champion Breweries Plc and United Bank for Africa Plc 3.3 per cent and 2.4 per cent respectively.

UBA last week announced an interim dividend of 20 kobo for the half year ended June 30, 2016 following a profit after tax of N31.999 billion recorded for the period.

E XC H A N G E

MAIN BOARD GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC Pharmaceuticals Totals HEALTHCARE Totals ICT IT Services TRIPPLE GEE AND COMPANY PLC. IT Services Totals ICT Totals INDUSTRIAL GOODS Building Materials ASHAKA CEM PLC BERGER PAINTS PLC CAP PLC CEMENT CO. OF NORTH.NIG. PLC PORTLAND PAINTS & PRODUCTS NIGERIA PLC LAFARGE AFRICA PLC. Building Materials Totals Electronic and Electrical Products CUTIX PLC. Electronic and Electrical Products Totals Packaging/Containers BETA GLASS CO PLC. Packaging/Containers Totals INDUSTRIAL GOODS Totals OIL AND GAS Energy Equipment and Services JAPAUL OIL & MARITIME SERVICES PLC Energy Equipment and Services Totals Integrated Oil and Gas Services OANDO PLC Integrated Oil and Gas Services Totals Petroleum and Petroleum Products Distributors CONOIL PLC ETERNA PLC. FORTE OIL PLC. MOBIL OIL NIG PLC. TOTAL NIGERIA PLC. Petroleum and Petroleum Products Distributors Totals Exploration and Production SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD Exploration and Production Totals OIL AND GAS Totals SERVICES Automobile/Auto Part Retailers R T BRISCOE PLC. Automobile/Auto Part Retailers Totals Courier/Freight/Delivery RED STAR EXPRESS PLC Courier/Freight/Delivery Totals Printing/Publishing LEARN AFRICA PLC Printing/Publishing Totals Transport-Related Services AIRLINE SERVICES AND LOGISTICS PLC NIGERIAN AVIATION HANDLING COMPANY PLC Transport-Related Services Totals Support and Logistics CAVERTON OFFSHORE SUPPORT GRP PLC Support and Logistics Totals SERVICES Totals EQTY Board Totals Daily Summary (Equities) Activity Summary on Board ASeM CONSUMER GOODS Food Products MCNICHOLS PLC Food Products Totals CONSUMER GOODS Totals ASeM Board Totals Daily Summary (Equities) Activity Summary on Board PREMIUM FINANCIAL SERVICES Banking ZENITH INTERNATIONAL BANK PLC Banking Totals Other Financial Institutions FBN HOLDINGS PLC Other Financial Institutions Totals FINANCIAL SERVICES Totals INDUSTRIAL GOODS Building Materials DANGOTE CEMENT PLC Building Materials Totals INDUSTRIAL GOODS Totals PREMIUM Board Totals Equity Activity Totals

DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

32 4 6 69 69

25.33 0.94 0.69

551,998 16,020 597,000 1,779,083 1,779,083

13,903,164.18 15,299.40 412,110.00 15,902,796.63 15,902,796.63

1 1 1

1.69

500 500 500

805.00 805.00 805.00

16 9 4 6 10 31 76

24.00 9.30 35.78 8.62 3.36 80.50

110,727 40,229 26,700 142,300 299,900 14,373,223 14,993,079

2,707,053.97 362,501.29 992,680.00 1,227,076.00 966,480.00 1,157,057,077.16 1,163,312,868.42

6 6

1.51

134,500 134,500

204,240.00 204,240.00

5 5 87

50.00

24,529 24,529 15,152,108

1,165,135.50 1,165,135.50 1,164,682,243.92

2 2

0.50

24,262 24,262

12,131.00 12,131.00

90 90

3.47

3,827,573 3,827,573

13,288,632.05 13,288,632.05

21 7 8 21 7 64

18.34 1.84 342.00 150.00 145.00

81,125 100,300 20,300 16,295 13,699 231,719

1,505,034.50 182,832.00 6,595,470.00 2,396,080.60 1,959,692.96 12,639,110.06

33 33 189

318.00

389,934 389,934 4,473,488

124,037,602.56 124,037,602.56 149,977,475.67

1 1

0.50

941 941

470.50 470.50

5 5

3.80

32,870 32,870

127,756.40 127,756.40

13 13

0.89

624,500 624,500

538,430.00 538,430.00

1 22 23

2.29 4.00

4,588 251,094 255,682

10,001.84 1,001,583.80 1,011,585.64

1 1 43 1,811

1.68

10,000 10,000 923,993 3,428,226,216

16,000.00 16,000.00 1,694,242.54 5,785,390,675.15

2 2 2 2

1.21

270,464 270,464 270,464 270,464

327,261.44 327,261.44 327,261.44 327,261.44

306 306

11.45

13,929,679 13,929,679

159,605,439.23 159,605,439.23

278 278 584

3.74

10,438,552 10,438,552 24,368,231

39,515,087.18 39,515,087.18 199,120,526.41

35 35 35 619 2,432

139.83

38,770 38,770 38,770 24,407,001 3,452,903,681

5,304,666.00 5,304,666.00 5,304,666.00 204,425,192.41 5,990,143,129.00

2 2 2 2 2 10 10 10

2,330.00 2.33 6.02 11.09 18.07

3,000 20 20 20 15 3,075 3,075 3,075

6,986,000.00 46.70 120.20 221.80 270.65 6,986,659.35 6,986,659.35 6,986,659.35

Daily Summary (ETP) Exchange Traded Fund Name NEWGOLD EXCHANGE TRADED FUND (ETF) VETIVA BANKING ETF VETIVA CONSUMER GOODS ETF VETIVA GRIFFIN 30 ETF VETIVA INDUSTRIAL ETF Exchange Traded Fund Totals ETF Board Totals ETP Activity Totals

T H I S D AY WEDNESDAY AUGUST 31, 2016

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WEDNESDAY AUGUST 31, 2016 • T H I S D AY

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Urhobo Militia Dares Military, Blows up Pipeline in Delta Troops arrest suspected criminals, militants in oil region

Senator Iroegbu in Abuja and Sylvester Idowu in Warri An Urhobo militant group, Niger Delta Greenland Justice Movement (NDGJM), yesterday dared the ongoing military operation code-named “Operation Crocodile Smile,” dismissing it as toothless.

It however, launched its own counter exercise called: “Operation Crocodile Tears.”

To manifest its seriousness, the group claimed responsibility for breaching of an Ogor-Oteri major delivery line operated by the Nigeria Petroleum Development Company (NPDC) and Shoreline Petroleum in Delta State.

The group, in a statement by its spokesperson, Aldo Agbalaja, claimed the attack took place at about 0300 hours, saying it was executed by its Uproot Team B. It said the attack on the oil facility was also to launch “Operation Crocodile Tears” since the military had launched “Operation Crocodile Smile” to supposedly worsen the Niger Delta crisis.

“The NDGJM will no longer sit quietly watching the endless harassment of our people in various parts of the region by the Nigerian military,” it stated.

THISDAY checks however revealed that the said trunkline had not been in use for a long time and may not have any adverse effect on the economy.

The Urhobo militant group said it had once warned against the victimisation and harassment of defenseless people of the region, especially in the creeks, but rather than heed, the Nigerian military has increased its presence and made life more difficult for the people.

“They are now killing our people on the basis of mere suspicion, this cannot continue. With the launch of their ‘Operation Crocodile Smile’, the NDGJM is also serving a notice on the commencement of our ‘Operation Crocodile Tears.’

“It shall from now on be an eye for an eye; for every military atrocity carried out in the creeks and hinterland of the Niger Delta, the Nigerian armed forces will have the NDGJM to contend with.

“To this end, we are alerting all those working in the UQCC/ UPS Erhomukokwarien in Ughelli, Eriemu Pigging Manifold in Agbarha, Otorogun Gas Plant, Olomoro Flow Station, Warri Refinery, Port Harcourt Refinery, Eleme, OB-OB and Obite gas plants in Omoku to evacuate because what is coming to those facilities is beyond what anybody has seen before.

“We do not want innocent blood being spilled, therefore, we advise all indigenes living in the vicinities of the facilities to relocate for the time being. “The world should, however, note that a bloodbath that is about to commence in our already beaten, battered, squeezed and impoverished homeland, the Niger Delta. “It is all the baby of the Nigerian government; they are the people who are in one breath preaching resolution through dialogue and also breathing bullets and bombs on a troubled, but trusting people.

“Hold the Nigerian president responsible for the genocide that his armed forces are about to unleash on our people,” it said.

The group decried moves by some elders and leaders of the region to put a pan Niger Delta body in place to speak on behalf of the area in any dialogue with the federal government noting that they lacked the morality to do such since they used previous opportunities to feather their nests.

“Recent developments around our region, especially as it concerns the issue of justice and our inalienable right to protect our heritage, have proven us right all along. Now it has become clearer who is serious about getting justice for our people and who has been using the name of the region and the destinies of all our peoples to feather their nests, raising dust merely to harass the Nigerian state and the oil multinationals into parting with money.

“Although some selfish machinery merely put together to achieve some pecuniary ends, has been parading in the name of the peoples of the Niger Delta, the NDGJM will not be derailed on

its mission to getting justice for the people,” it stated.

The group said those who want to join the self-acclaimed leaders of the region to make quick money in the arrangement they had put together were free to do so, but it lacked confidence in the show they put together, calling it a pan Niger Delta initiative.

It said those people could speak for Ijaw nation, but certainly not all the nations in the region, adding: “When lines are blurred, justice is most likely to be miscarried. If there shall be a negotiation, it must be seen and indeed, must be in actual sense, representing all the individual nations of the region equally.”

The group added: “The drama that trailed the visit of some Ijaw royal fathers to the Minister of State for Petroleum, Ibe Kachikwu, in Abuja recently is the more reason why equity must be a factor in setting up a body that will dialogue

on behalf of all the peoples of the Niger Delta.

“If the said leader could not respect the royal fathers of his ethnic nation, if he is lording his will over them, what chance do other nations have, which do not have adequate representation?”

The troops of the 4 Mechanised Brigade of the Nigerian Army have arrested suspected criminals and militants as well as medical outreach to various communities in the Niger Delta region of the country The Director of Army Public Relations (DAPR), Col. Sani Usman, said yesterday that the troops on field training exercise nicknamed “Operation Crocodile Smile” have continued the military training with humanitarian activities, patrols, response to distress calls and arrest of suspected criminals in various parts of Delta State.

The troops, Usman stated, have continued to carry out free medical outreach at Otonyasere

Community in Sapele, Delta State, in which over 500 persons have so far attended including adults and children.

He said during the ongoing exercise, diagnosis were carried out, medication and drugs were given, some laboratory investigations were conducted out and blood pressure was checked freely to interested persons who thronged the area.

According to him, the medical personnel also gave health talk on good healthy living, HIV/ AIDS, Lassa fever awareness and sensitisation and oral hygiene.

He recalled that the troops also carried out similar exercise at Central Area at Otonloye Community near Olu of Warri’s Palace Delta State on August 29, 2016 and continued today.

He said: “It is expected that over 1,000 would benefit from the exercise in that centre alone at the end of the day.”

Usman said the troops while

on patrol at Otefe, Ethiope West Local Government Area of Delta State on Monday, responded to a distress call and “discovered that some criminals dressed in military uniforms, suspected to be cultists were harassing and intimidating the students at the area.”

“The troops promptly responded in record time and arrested the three culprits dressed in naval uniform. The impostors are currently undergoing interrogation,” he added.

In a related development, he said troops have also arrested five suspects, (four males and a female) at Ozoro, Isoko North Local Government Area of Delta State same day.

He listed exhibits recovered from the suspects to include a locally made single barrel gun, some cartons and parcels containing wrapped substances suspected to be marijuana.

LOOKING ATTHE BOOKS

Minister of Finance, Mrs. Kemi Adeosun (right), with the Managing Director, Nigeria Liquefied Natural Gas (NLGN), Mr. Babs Omotowa, during a courtesy visitoftheNigeriaLNGteamtotheMinisterinAbuja....yesterday

Court Refuses Kashamu’s Application to Stop His Extradition to US

Nasarawa Crisis: Al-Makura to Compensate Families of Dead Workers Ngige: FG may truncate strike

Tobi Soniyi in Abuja

Paul Obi in Abuja

A Federal High Court in Abuja has refused an application by Senator Buruji Kashamu to restrain the Department of State Services (DSS) and the Nigeria Police (NPF) from arresting and extraditing him to the United States.

Kashamu, a senator representing Ogun East, had through his lawyer, Godswill Mrakpor, filed a fundamental rights enforcement suit and accompanied it with a motion ex-parte for injunction.

He asked the court to restrain the respondents from taking steps to arrest him pending the determination of the substantive suit.

Yesterday, Justice Okon Abang declined to grant an ex-parte injunction.

Instead, the judge ordered that the respondents be served with the

motion and for them to attend court on the next adjourned date to show cause why Kashamu’s prayers, as contained in the ex-parte application, should not be granted.

Kashamu, in a supporting affidavit, stated that the security agencies are acting based on a “politically-motivated petition” authored by one Oladipupo Adebutu from Ogun State.

He alleged that there were moves to arrest him and transport him to the US to face drug-related charges.

Kashamu argued that the move to arrest and extradict him was contrary to the orders earlier made by the Lagos division of the Federal High Court in two suits marked: FHC/ L/CS/49/2010 and FHC/L/ CS/508/2015 which he had filed on the same issue.

Justice Abang adjourned to September 8 for hearing.

Following the intervention of the federal government, the Nasarawa State Governor, Umaru Tanko AlMakura, yesterday agreed to pay compensation to the families of the workers who lost their lives and those injured during a protest by labour in the state on July 29, 2016, in accordance with the Employees Compensation Act. The decision was sequel to the reconciliatory meeting with the Minister of Labour and Employment, Senator Chris Ngige, between the Nasarawa State Government and the organised labour.

The governor who was represented by the Attorney General and Commissioner of Justice, Yusuf Usman, stated that the state government would invoke

no work, no pay policy on the workers for July and August 2016.

He said the state government had since the begining of the crisis maintained the status quo, adding that both labour and the state government need to work harmoniously.

The state government also agreed to pay the shortfalls of the salaries during which the contentious new salary scale was implemented to the workers.

The meeting which commenced late yesterday evening, failed to reach a consensus on the July and August salaries, prompting the postponement of the meeting to today.

Meanwhile, the minister said he would discuss the issue with the governor in order to get the state government’s commitment on the payment of July and August salaries which the workers insist

must be paid since it was the state government that spearheaded the crisis.

Ngige explained that the administration of President Muhammadu Buhari had frowned at the situation in Nasarawa State and in consonance with his power, mandated him to intervene with a view to resolve the crisis.

“Moreso, when the issue has resulted in the loss of two lives, Mr. President has frowned at this situation and in consonance with the duty of the president as the chief custodian of industrial peace, he has asked me after reading the communique of the emergency meeting of the Nigerian Labour Congress (NLC) National Executive Council in Lagos, to do the needful so that we can get peace back to Nasarawa State.”

The minister said the gathering

was government first move of consiliatory meeting, adding that, “it has become necessary because the in-house mediation has failed.

Ngige described the death of two workers during the seeming demonstration in Nasarawa State as unfortunate.

He said the federal government team, headed by himself will listen to the officials and government of Nasarawa State, take their brief and all supporting document, after which it would meet with the NLC and TUC in the same way.

He said: “If we discovered that the workers do not take procedural steps to embark on strike, it has its own penalties” We will appreciate the strike, the Trade Union Act give me the power to apprehend the strike. I am sure that after this, we will get peace back to Nasarawa State.”

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Again, Sheriff Rejects PDP BoT Peace Deal Asks Jibrin, Makarfi to resign Group bemoans continued shutdown of party secretariat Onyebuchi Ezigbo in Abuja The faction of the Peoples Democratic Party (PDP) loyal to the former National Chairman, Senator Ali Modu Sheriff, has rejected the latest peace arrangement put forward by the Board of Trustees (BoT) of the party.

The embattled former chairman of the PDP had earlier rejected previous peace arrangements aimed at reconciling aggrieved members of the party, but instead relied on court injunctions to stall the national convention of the party on two occasions.

In what appeared to be Sheriff’s response to Monday’s proposal by the BoT to move the next national convention to Abuja, and to disband all previous convention planning committees, Sheriff’s next in command and Deputy National Chairman of his faction, Dr. Cairo Ojougboh, said the peace proposals fell short of their expectations and as such, stands rejected.

In a statement issued yesterday

by Ojougboh, the aggrieved faction fell short of accusing the Chairman of the BoT, Senator Walid Jibrin, of constituting a clog in the wheel of the party’s reconciliatory efforts.

“We completely reject the vote-of-confidence passed on the illegal caretaker committee because a committee that has failed twice to successfully organise a convention on two occasions is a failure. Consequently, we can now confidently inform the public that well meaning Nigerians have been urging Makarfi to resign to save democracy,” he said.

Ojougboh said the problem with the party was the “still-born illegal caretaker committee,” adding that the BoT should have advised that the illegality be addressed.

Ojougboh’s statement read: “Having deliberated on the reported outcome of the BoT

meeting of August 29, 2016, we have resolved to state as follows, that the resolutions fall short of the decision reached with the Dickson/Mantu reconciliation committee.

“The agreement we had is that Sheriff should Chair a National Executive Committee (NEC) meeting where Makarfi will attend as a member of the BoT, at the meeting, a Chairman of Convention Committee will be agreed upon, a new convention committee setup, including all other sub-committees: zoning, finance, accreditation, etc.

“The venue of the convention will be in Abuja, where a new leadership of the party will emerged, internal democracy will be respected and confidence will return to the party.

And we had hoped that opportunity will be given where everybody will meet under one umbrella and shake hands and will see the PDP reemerge for the challenges ahead.

We therefore state as follow: “We therefore call on his friends and associates and family to advice him to do the needful and resign now to save multi-party democracy in Nigeria and stop impunity that has been the bane of internal democracy.

“That the BoT Chairman, Jubril, has brought crisis to the party. In any case, his tenure has expired as he has spent more than 10 years as Secretary and Chairman BoT which runs contrary to the constitution. A party where we have eminently qualified persons like Senator David Mark, Babangida Aliyu and others cannot be led by unstable individuals controlled by the love for money.

“That the source of irritation in the party is the still-born illegal caretaker committee and the BoT should have advised that the illegality be addressed.

EFCC Arrests Ebonyi Governor’s Brother,Two Others over N400m Campaign Fund Senator Iroegbu in Abuja The Economic and Financial Crimes Commission (EFCC), on Monday arrested one Austin Umahi, brother to the Governor of Ebonyi State, Chief David Umahi, along with two others named Chinyere Egwuche and Mabel Dikibo over a N400,000,000 slush fund linked to the 2015 presidential campaign of the Peoples Democratic Party (PDP).

A source from the anti-graft agency said that suspects, all staff of Brass Engineering and Construction Nigeria Limited and Osborn La-Palm Royal Resort, were arrested, following their refusal to collect and honour invitation for questioning in an ongoing investigation involving both companies.

The source explained that while Austin Umahi doubles as the Chairman of both companies, Chinyere Egwuche and Marbel Dikibo are also signatories to the companies’ accounts.

Investigations by the commission allegedly revealed that the sum of N400,000,000

was released by the Director of Finance, PDP Presidential Campaign Organisation, Senator Nenadi Usman, to the PDP in Ebonyi State, for the 2015 presidential election.

It was however discovered that the said fund was moved from Fidelity Bank, Abakaliki on March 27, 2015, where it was initially deposited to an Access Bank, Abakaliki account, where one Maxwell Umahi further moved N100,000,000 and N300,000,000 respectively into the accounts of Brass Engineering and Construction Nigeria Limited and Osborn LaPalm Royal Resort respectively.

According to the EFCC, “One of the suspects, Chinyere Egwuche, subsequently withdrew the N300 million paid into the account of Osborn La-Palm, which according to her, was used to finance further construction of Osborn La-Palm Hotels in Abakaliki, Uburu and Port - Harcourt, while the N100 million paid into the account of Brass Engineering and Construction Nigeria Limited was transferred to a certain David Umahi Faith Foundation.”

“Whereas the National Working Committee (NWC) had agreed terms with the reconciliation committee on numerous occasions but the BoT will go public and make misguided and provocative statements. The leadership of the BoT must immediately be reconstituted to move the party forward.

“We thank the numerous PDP faithful nationwide and Nigerians for their understanding and patience. We make bold to state that until we get it right and check impunity, the Nigerian opposition party won’t perform as required.

“As we move towards reconciliation, PDP should prevent

any person or group from hijacking the party. Rest assured that the PDP will emerge stronger as we note that impunity marred the party’s success in 2015 general election.”

Meanwhile, a group with political interest in the PDP, the PDP Media Watchdog, has lamented the over three months of lock down on the secretariat of the party by security agents.

The pro-opposition party group, in a statement signed by Mr. Tunde Lawal, described the role of the police under the All Progressives Congress as (APC)-led administration as high-handed.

“It is no longer news that the national secretariat of the PDP is

still under lock and key for over three months by officers of the Nigerian Police Force on the pretext of protecting lives and property due to the leadership crisis in the PDP,” the group said.

The group noted that since 1999, Nigeria has never witnessed a situation where the government in power will use the security agencies to scuttle and shutdown the national secretariat of a major opposition political Party The statement read: “The role of the Nigerian Police Force in the PDP affairs under the administration of the APC is unbecoming of an unbiased umpire and a clear sign of autocracy

in full practice in Nigeria.

“Since the inception of democracy in 1999, Nigeria has never witnessed a situation where government in power will use the security agencies to scuttle and shutdown the national secretariat of a major opposition political party with no serious or cogent reasons except to destroy all opposition voice.

“The Nigeria Police Force today has several security issues to deal with and show how proactive the force can be by tackling the various herdsmen attacks, kidnapping, armed robbery and other civil disturbances but are only proactive when it comes to the PDP affairs.”

ON-THE-SPOT ASSESSMENTTOUR

Sokoto State Governor, Alhaji Aminu Waziri Tambuwal (left), accompanied by the Sultan of Sokoto, Alhaji Muhammad Sa’ad Abubakar III, addressing residentsandcommunityleadersatflood-ravagedTuduvillageinDangeShuniLocalGovernmentAreaofthestate....yesterday

NBA Asks EFCC to Withdraw Uncivil Statement, Demands Apology Agbakoba, HURILAWS back association Tobi Soniyi and Senator Iroegbu in Abuja The Nigerian Bar Association (NBA) has condemned the statement credited to the Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, calling lawyers rogues.

The NBA, in a statement signed by its General Secretary, Isiaka Abiola Olagunju, called on the commission to withdraw the statement and to tender and unreserved apology.

The association criticised the chairman of the anti-graft agency for using uncivil language of ‘rogues’ and vultures on lawyers who are doing their constitutional duties.

NBA said: “The inaugural address of the NBA President was a statement of nearly 30 pages, which set his vision and direction of his programmes for the Nigerian legal profession. He committed himself to leading a brave new Bar fully aligned with the aspirations of Nigerians in their quest for national development which can only be anchored on the rule of law built on strong institutions.

“In the paragraph of the statement dealing with corruption, the NBA president restated the commitment of the NBA in the fight against corruption.

He commended the modest achievement of the EFCC but called for the reform of the agency to enhance its capability to deliver on its mandate on a consistent and sustainable basis devoid of political interference and on the basis of well established institution safeguard that demands proper regulation of the wide discretionary power involved in the investigation and prosecution of criminal matters.

“The NBA condemns in the strongest term the use of abusive and uncivil language of ‘rogues and vultures’ and such structures by the public authority. Name calling and abusive language is not expected of any public institution. It is unacceptable. The NBA demands an unequivocal withdrawal of these statements and unreserved apology from the EFCC.” The association called on the EFCC to endeavour to get its facts correctly before making statements or insinuations.

Last weekend the EFCC in a statement described the Nigerian Bench as one populated by rogues and vultures.

It said such group of people could not sit in judgment over others or command their respect.

The EFCC’s statement was a response to the call by the new NBA President, Abubakar

Mahmoud, for the restructuring of the anti-graft agency.

Mahmoud had after his inauguration as the president of the NBA called for the restructuring of the EFCC. Among other proposals, he said the anti-graft agency should be stripped of its prosecutorial powers.

But EFCC described the call by Mahmoud as a self-serving one.

The EFCC said the aim of the call was to create “a cabal of untouchables” since some of the country’s senior lawyers are undergoing trial now for cases of corruption.

It vowed that there would be no sacred cows in the bid to stamp out corruption in the country.

The statement said: “It is too much of a strange coincidence that the suggestion to strip the EFCC of its prosecutorial powers is being floated few months after the commission, in unprecedented fashion arraigned some senior lawyers for corruption.”

Meanwhile, the Human Rights Law Service (HURILAWS) has thrown its weight behind the call

by Mahmoud for the whittling down of the prosecuting powers of the EFCC. HURILAWS in a statement signed yesterday by the Senior Counsel, Mr. Olisa Agbakoba (SAN) and Legal/Programme Officer, Mr.

Collins Okeke, applauded “the call by Mahmoud for a debate on the efficacy of the war against corruption in Nigeria”.

Agbakoba and HURILAWS said that “where corruption is endemic like in Nigeria strong institutions are critical to achieve success.”

The body noted that “It is in this context that the debate on the propriety of the EFCC investigating and prosecuting financial crimes at the same time is appropriate.”

Part of the statement read: “We support the position of the President of the NBA. HURILAWS position is supported by international best practice and the need to build the capacity of the EFCC to deliver on its core mandate which is investigation of financial crimes.

“The international best practice is that one agency investigates, another prosecutes and the court adjudicates. The EFCC as currently composed is overworked and will not efficiently deliver on investigation and prosecution.

“While we have no objection with the EFCC investigating or the courts adjudicating, we believe the powers to prosecute should be vested in an independent highly resourced prosecuting agency. We appreciate the enormous work done by the EFCC since its establishment in 2003.”

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Flood Kills 12 Persons in Bauchi Tambuwal, Sultan visit flood-ravaged Sokoto communities Segun Awofadeji in Bauchi Twelve persons have been feared dead following a heavy down pour, while cash crops were washed away in Ganjuwa and Giade local government areas of Bauchi State.

Confirming the incident, the Deputy Director, Needs Assessment of the State Emergency Management Agency (SEMA), Musa Ladan, who disclosed this yesterday during an interview with journalists in Bauchi, said the flood killed four persons in Galamakira and Galam Baba communities in Miya district area of Ganjuwa local government.

According to him, eigth persons also lost their lives as a result of the flood in Gulbuk community in Giade Local Government Area of the state.

He added that the flood killed four children who went out in the rain to take a bath. “Unfortunately for them, on their way home, they stepped on a culvert which caved in and the flood took them away.

“The people in the community

were able to recover the body of one of the children who died during the incident.The other two bodies were recovered the following day.”

He said He said the fourth victim who lost his life in the flood was a 65 year old farmer called Alhaji Danladi whose house collapsed due to the magnitude of the wind that accompanied the flood.

Meanwhile, the Permanent Secretary of SEMA, Aliyu Abba Ahamad, said the agency’s team in the state had visited the affected communities to commiserate with victims and access the level of damage wrecked by the flood.

The village heads of Galamakira and Galam Baba, Saleh Adamu and Ahmed Iliyasu, respectively called on the state government to construct more primary health care centres in the communities in order to offer prompt medical services to the people during of emergencies.

In Sokoto State, Governor Aminu Waziri Tambuwal and the Sultan, Muhammad Sa’ad Abubakar III, have assessed the damage done by the thunderstorm and flood

Wike Inaugurates Committee for Elechi Amadi’s Burial Rivers State Governor, Nyesom Ezenwo Wike, has stated that the late literary icon, Captain Elechi Amadi, deserves a befitting burial for his contributions to the development of the state, Nigeria and humanity.

Inaugurating the state burial committee for Amadi yeserday at the Government House, Port Harcourt, Wike urged the family to cooperate with the committee to ensure that the late literary icon gets the deserved befitting burial.

He warned against the politicisation of the burial, pointing out that the state government would not struggle with any group on who should organise the burial.

The governor stated: “If the family does not want Rivers State Government to participate in the burial, it should make its position known.”

He said the committee was set up after wide consultation with different stakeholders in order to carry every group along.

He noted that the committee can co-opt more members as the

need arises.

Wike said: “Nobody should localise the burial of the late Captain Elechi Amadi. In all ramifications, Amadi served the nation in extraordinary ways.”

He charged the committee to ensure that the burial takes place in the course of 2016. He said that the weather of the state should play a part in the date for the burial.

Responding, the Chairman of the committee, Hon. Frank Ohwor, assured the governor that members of the committee will work towards a befitting burial for the literary icon.

Those inaugurated by the governor are: Hon. Frank Owhor (Chairman ), Hon. David Briggs (Secretary), Prince Paul Wonodi (Deputy Chairman), Chief Monday Mgbor , Hon. Hope Ikiriko . Mr. Chris Orji and Chairman, Ikwerre Local Government Area.

Others are: Henry Wordu, Mrs. Preye Elechi Amadi, Mr. Carl Amadi, Mr Azubuike Elechi Amadi, Professor S.C. Achinewhu, Ben Ugo and Chief V. Ama

Ambode Appoints Anibaba as New CEO Lotteries Board Names Gbajabiamila as GM, LASIMRA, Oshinowo for scholarship board Lagos State Governor, Mr. Akinwunmi Ambode, yesterday approved the appointment of Mr. Seun Anibaba as the new Chief Executive Officer (CEO) of the Lagos State Lotteries Board.

Anibaba graduated from the University of Oklahoma and the New York University, both in the United States of America, where he obtained a Bachelor of Science degree in Accountancy and a Masters Degree in Business Administration respectively. He is also a Certified Public Accountant (CPA).

He began his working experience with Merrill Lynch Corporate Audit and Global Lending as an intern

before his elevation as Vice President of the Bank of America, Merrill Lynch Corporate Audit.

He was the Chief Executive Officer and founder of the DPR Wealth Management LCC and was Senior Special Assistant to the Governor on Business and Marketing Strategies before his current appointment.

Anibaba replaces Mr. Lanre Gbajabiamila who was named the new General Manager of the Lagos State Infrastructure Maintenance and Regulatory Agency (LASIMRA).

Besides, Ambode also approved the appointment of Mr. Steve Oshinowo as the new Secretary of the Lagos State Scholarship Board.

in Tudu village and surrounding communities of Dange Shuni Local Government Area of the state.

Incessant rain and rising water level have left more than 100 homes destroyed while a toddler was reported dead in the village.

Addressing the victims of the disaster, Tambuwal said

government had already sent in emergency supply of relief items to the area.

He said in the interim, the state emergency management agency would conduct a full assessment of items destroyed to enable government assist the victims.

While praying to God to ensure such calamity doesn’t occur again, Tambuwal said efforts were being made to ensure that all houses to be rebuilt would be strong enough to withstand heavy rains and strong winds.

Meanwhile, Tambuwal has

also inspected the Isa-Marnona federal highway which was washed away by the flood.

He said his administration would fix the damaged section of the road, and revealed that an assessment team had been directed to visit the site and advise government accordingly.

CLEAN-UP LAGOS

L-R: Secretary to the Lagos State Government, Mr. Tunji Bello; Governor Akinwunmi Ambode; Representative of Victoria Island/Ikoyi Residents Associations (VIIRA), Dr. Ishola Salami; and Sole Administrator, Ikoyi/Obalende LCDA, Mr. Goke Ona-Olawale, during the inauguration of a committee on clean-upofVictoriaIsland-Ikoyi-LekkiareasattheLagosHouse,Ikeja....yesterday

Umar Cautions Buhari against Ezekwesili: Buhari Leaving Use of Force in Niger Delta Chibok Girls’ Freedom to Boko John Shiklam in Kaduna Former Military Governor of Kaduna State, Colonel Abubakar Dangiwa Umar (rtd), has cautioned President Muhammadu Buhari against using the military force on the Niger Delta militants.

Umar in a statement yesterday in Kaduna, said the military option is likely to inflict collateral damage on the nation’s fragile economy.

He maintained that the Niger Delta issue cannot be equated with the Boko Haram insurgents, whose ideology and activities are not the same and called on the president to engage in a meaningful dialogue to end the crisis in Niger Delta region.

In the statement in titled: ‘War in the Niger Delta: A Most Dangerous Option,’ Umar said the sudden escalation of crisis in the Niger Delta was very disturbing.

“I am really frightened by the sudden escalation in the Niger Delta region from where there are reports of skirmishes between our security forces and the Niger Delta militants.

This is happening after the president was quoted as vowing to deal with the militants as he did Boko Haram,” Umar said.

While condemning the position of President Buhari on the crisis, he argued that “all factors considered, the use of military force in an attempt to resolve the lingering crisis is not a good option and must therefore be discarded.”

He maintained further

that “as a retired General, Mr. President is well aware of the serious and daunting challenges any military will face in its operations in the most difficult and densely populated Niger Delta region.

“The creeks are so heavily polluted with oil, rendering them highly inflammable. It will take the firing of a few high explosive shells to set the whole area on fire, resulting in inestimable collateral damage among innocent civilians.”

Umar said further that “it is also difficult to see how an armed conflict can secure our oil and gas assets in the region, instead it will aid the destructive activities of the militants and lead to total shut down of all oil and gas operations in the area.”

According to him, “the Niger Delta militants cannot be said to be terrorists in the real sense of the word and I believe they are amenable to meaningful dialogue.

“I need not remind the President that a war in the Niger Delta will be viewed and opposed to by most objective Nigerians and the international community as unjust and merely aimed at control and exploitation of the region’s oil and gas resources.”

Umar appealed to Buhari: “I therefore beseech you, to continue to explore peaceful means of resolving the Niger Delta crisis, as painful as you may find this and prayed God direct and guide the President on the path of justice.

Haram The leader of the #BringBackOurGirls movement, Obiageli Ezekwesili, has said the recent comment credited to President Muhammadu Buhari on his administration’s readiness to negotiate with Boko Haram, is not sufficient.

In a recent video clip, the insurgents had demanded that their members held in detention by the federal government should be swapped for the abducted girls.

Speaking to journalists yesterday Ezekwesili explained that the president needed to take the matter “hands-on” to determine the steps on the closure of the matter, rather pinning the responsibility of securing the girls’ freedom on Boko Haram.

“What we have heard has been a lot of tentativeness, at the recent development where our president said that he is ready to do a prisoner swap and that Boko Haram can nominate an international NGO to intermediate that,” Ezekwesili said.

“As far as we are concerned, that’s not sufficient. What our president needs to do is to take this matter hands-on and to determine a lot of the steps towards any kind of closure on this matter.

“Every time a statement comes out of the federal government, it is tentative. Every time a statement comes out that seems to put responsibility on those who are holding our children, it just makes us feel the kind of decisiveness and the engagement that we should see coming out of this; it is not happening.”

The former Minister of Education, according to The Cable, stated that the government ought to be in control in determining the methods by which the girls would be rescued.

“We should be determining a lot of things whether it is military operation, whether it is negotiation, if it’s the combination of military operations and negotiation, we should be in the driver seat of this,” she added.

“We are not leaving it to for actions that come from the other end; we must take charge; we are the nation-state. Our girls are out there in the wild with men of dishonourable intent; we must take charge.”

Also speaking to journalists, Aisha Yesufu, another leader of the group, said Buhari’s willingness to swap the Boko Haram prisoners to get the Chibok girls rescued should not just be said but action should his words.

“It is not about saying the words, but a sign of meaning what you are saying,” Yesufu said.

“What is about saying that an international terrorists should go and look for an international NGO. What does that mean we are the ones that have been working so hard to ensure that our daughters are released.”

The movement later embarked on a “silent” processional demonstration in which they used tapes to cover their mouths.

At the entrance of the Presidential Villa, they sat down on the ground in silence after they were for the third time barred from gaining entry.

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ASUU Bemoans Non-release of Needs Assessment Intervention Fund Since 2014 Uchechukwu Nnaike The Academic Staff Union of Universities (ASUU) has decried

the federal government’s nonimplementation of the ASUU/FGN Memorandum of Understanding of November 2013 which stated

Elumelu Tasks Nation’s Policy Makers on Poverty Reduction The Chairman of Heirs Holdings and United Bank for Africa (UBA) Plc, Mr. Tony O. Elumelu, has advocated entrepreneurship as a veritable solution to achieving poverty reduction in the country.

Elumelu who is also the Founder of The Tony Elumelu Foundation, delivered a paper themed: ‘Entrepreneurship, Corporate Social Responsibility and Africapitalism: The Role of The Private Sector in Fighting Poverty in Nigeria’, at the nation’s think-tank, the National Institute of Policy and Strategic Studies (NIPSS) in Kuru, Plateau State.

He addressed a distinguished guest list of 67 participants from top government constituencies including the police, the military, national planning, works, and the presidency, debating ways to move the country forward in light of the present economic challenges.

In his lecture, Elumelu expressed optimism that with the right policy reforms, Nigeria could be well on its way to rising above its present challenges.

He reiterated his long-term conviction on entrepreneurship as a solution to arresting the economic challenges facing the country.

The UBA chairman stated that past governments had not been successful in eradicating poverty in Nigeria in spite of the various entrepreneurship schemes that have been introduced over the past 30 years.

“Governments alone do not have the capacity to provide the basic daily needs or employment for the millions of young Nigerians entering the job market every year. Therefore, the private sector must be an integral part of our national poverty eradication and development strategy,” the consummate entrepreneur stated. “If our entrepreneurs succeed, Nigeria succeeds,” he stressed.

An advocate of Africapitalism, Elumelu noted that entrepreneurship and not philanthropy, is key to

achieving poverty reduction and empowering Nigerians as we strive to solve our challenges without dependence on aid from outside the country.

“No one but us will save ourselves,” he said. “The development of Africa is up to Africans. Donors and partners can help, but the work of developing our nations is ours. Nigeria’s poverty and development challenges are great. But they do not exceed the capacity of our people to solve them.

We welcome every initiative that helps in reducing poverty. More effort is required’ said Elumelu.

Expounding on the benefits of Africapitalism, he cited the achievements of the Tony Elumelu Foundation Entrepreneurship Programme as a case study of how Africans, and by extension Nigerians, can solve their own problems via entrepreneurship, adding that the goal of the yearly programme is to invest $100 million over the next 10 years to identify, train, mentor and seed 10,000 African businesses with a view of creating one million new jobs and $10 billion in additional revenue for the continent by democratizing and institutionalizing the ‘luck. The second set of 1,000 entrepreneurs, he said was announced a few months ago and boasted of representation from all thirty-six states of Nigeria and other African countries.

The Acting Director General of the Institute, Ibrahim Lamorde, in his vote of thanks, urged the participants in their respective workplaces to commit to creating a conducive environment for entrepreneurs to thrive.

“All 67 participants and those of us who are also in other areas of responsibility will go out and ensure that between now and the end of the year, we promote just one policy that will drive change.

I think this will go a long way in addressing the issue of poverty in this country.”

More Nigerians Patronise Health Insurance Schemes The Chairman of Healthcare International Nigeria Limited, Senator Olayinka Omilani, has said Nigerians’ patronage of health insurance schemes has grown steadily due to improved awareness in the benefits associated with the schemes.

He spoke while addressing the company’s shareholders at its 13th Annual General Meeting, saying the company’s gross premium grown by 8 percent in 2014.

According to Omilani, the introduction of innovative healthcare plans as well as the amendments to the existing ones had helped to create increased awareness on the need for Nigerians to have one form of health insurance or the other.

To further deepen the market,

the company introduced strategies that ensured that healthcare services were made available to all Nigerians at affordable costs irrespective of their financial or economic status.

Also speaking after the AGM, Healthcare International Managing Director, Mr. Tosin Awosika, assured its stakeholders that the company was primed to fulfill its vision to be the leading Health Management Organisation (HMO) in Africa.

Healthcare International Limited is a private company incorporated in 1997 to provide quality and affordable health insurance to different strata of the Nigerian population. It is owned by some of the leading insurance companies in Nigeria.

that Nigerian universities required 1.3 trillion for their revitalisation to compete favourably with their counterparts around the world.

Briefing journalist at the University of Lagos yesterday, the Lagos Zone of the union said the amount was based on the outcome of the federal government-conducted Needs Assessment of Public Universities in July 2012.

The union stated that in the December 11, 2013 MoU, government agreed to release the intervention funds in six installments over a period of six years starting with N200 billion in 2013 and subsequent payment of N220 billion each in the remaining five years spanning 2014-2018, but regretted that government is in arrears of N605 billion as at the third quarter of 2016.

According to the Coordinator

of the ASUU Lagos Zone, Prof.

Olusiji Sowande, “the implication is that government is not committed to the full implementation of this component of our agreement.

The funding crisis is seriously impacting negatively on the state of infrastructure and research facilities in our universities.

“This lack of commitment to improving the education sector of our country is further expressed in the decline in the budgetary allocation to education from 11 per cent in 2015 to eight per cent in 2016 as opposed to the 26 per cent benchmark set by UNESCO. This is unacceptable to our union and must be addressed to halt the deterioration of facilities in Nigerian universities.”

The union also expressed concern over the non-implementation of and violations of the 2009 ASUU/ FGN Agreement and subsequent

MoUs arising from it; funding of state universities and breaches of the condition of service and renegotiation of the 2009 agreement.

“The federal government freely entered into an agreement with our union in 2009 over funding of the universities, universities autonomy, and conditions of service and other miscellaneous issues confronting the Nigerian university system.

“In an effort to cause the FGN to fully implement the agreement, the union embarked on strike in 2012 and 2013, which led to the signing of MoU towards the effective implementation of the agreement. To date, several aspects of the agreement are yet to be implemented.”

It said some of the unimplemented aspects include Nigerian Universities Pension

Management Company (NUPEMCO); funding of state universities; earned academic allowances; renegotiation of the 2009 agreement, which ought to be done every three years.

While expressing disappointment that the federal and state governments are not responding to its consistent appeals for reason to bring about genuine transformation, ASUU stressed that embarking on strike has never being a favoured choice, given that its members feel and suffer the most during and after every strike.

To forestall any avoidable crisis, it appealed to “all genuinely progressive individuals and groups to prevail on the government to arrest a brewing and potentially combustible situation in the Nigerian university system before it degenerates into a serious conflagration.”

DIPLOMATIC VISIT

Minister of Information and Culture, Alhaji Lai Mohammed, flanked by the Permanent Secretary in the ministry, Mrs. Ayo Adesugba (left); and Ambassador of the Republic of Sudan to Nigeria, Mr. Ibrahim Bushra, during a courtesy visit by the envoy to the minister in Abuja.... yesterday

Osinbajo: FG will Set up Technology Hubs in All Geographical Zones Targets 400,000 youths for ICT training Tobi Soniyi in Abuja In recognition of the role of innovation and technology in national economic growth, the federal government has said it will establish technology hubs across the country.

Vice President Yemi Osinbajo disclosed this in Abuja yesterday at the flag off ceremony of Google Digital Training for Youth Empowerment with the theme “Diversifying Nigerian Economy: enabling youths through digital skills training”.

He also announced that 400,000 youths would also be trained in partnership with Google.

According to him, in partnership with several major technology companies, two super hubs will be established in Lagos and Abuja and six regional hubs in the six geo-political zones.

He said the hubs would be fully resourced with infrastructure and capacity building tools.

He said: “Each hub will be designed to produce relevant innovative technology, solutions to a wide range of business, commercial and government problems. For example, alternative energy solutions, creative technology, public services delivery in health, education and government processes, import substitution etc.

“Several major technology companies are partnering with us in the provision of infrastructure and opportunity in the hubs.

Also starting this year, we have budgeted for the training of 65,000 young Nigerians in hardware and soft ware services and more sophisticated software hardware such as animation. This would mean that we would be building more local capacity to build, assemble hardware and to write innovative programmes.

“We will also be focusing on technology for media and

entertainment.

“We intend to create a reservoir of human capacity in technology that can be exported internationally.”

Osinbajo, who represented President Muhammadu Buhari at the event, said Nigeria could lead India as a market for technology and innovation talent.

According to him, the present administration has launched a special initiative on innovative technology and start ups and presentation of prospective participants have already been done in Lagos, Abuja and Port Harcourt.

“This Friday (September 2nd), 30 of the best start up ideas will be exhibiting their in ovations at the Presidential villa at the first annual Aso Villa Demo Day. “The 30 winners will participate in an innovation growth camp for two days, (Thursday and Friday),” he added.

He said this was why Google offered in collaboration with the

federal government, to train 400,000 young people, describing it as “a monumental contribution to the national plan and in particular to economic development.”

Osinbajo said: “Everyone of the 400,000 young men and women to be trained is a potential creator of facebook, Uber, Jobberman, Iroko Tv or something that we haven’t even imagined yet.”

He advised Nigerian youths to acquire multiple skills for self-employment and economic empowerment adding that opportunities abound for professionals with multi-skills to excel in the period of economic hardship and joblessness?

“The exciting prospect of this training is that it unleashes the creativity and innovation and the boundless imaginative of the most productive segment of our society, the youth.

He said: “For any student today I think that we must appreciate that this is the age of multi tasking.

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PDP, APC Bicker over Atsuete’s Death Ernest Chinwo in Port Harcourt The gruesome murder of popular human rights activist and lawyer to the All Progressives Congress (APC), Ken Atsuete, in Port Harcourt in the early hours of Monday has pitched the party against the Peoples Democratic Party (PDP) with both parties blaming each other of being responsible for the death of the activist.

While the APC said the state government and the PDP should be held liable because the slain

Atsuete had announced he was going to expose how the PDP was parading a fake court order restraining the Independent National Electoral Commission (INEC) from releasing the result of Tai Local Government Area in the last rerun election, the said the APC should allow the police do their job to unravel those responsible for his death.

Addressing journalists in Port Harcourt yesterday, the state Chairman of the APC, Dr. Davies Ikanya, said the death of Atsuete was premeditated and the handiwork of the state government.

Linking Jonathan to NDA Provocative, Says South-south Forum Bassey Inyang in Calabar A group, South-South Solidarity Forum, has described as provocativem attempts to link former President Goodluck Jonathan with the activities of the Niger Delta Avengers (NDA).

According to the group, the alleged probe by security agencies which mentioned Jonathan’s name in connection with the activities of the militant group was a deliberate mischief that could threaten the corporate existence of the country.

Rising from a stakeholders’ meeting in Calabar yesterday, National President of the South-South Solidarity Forum, Dr. Bassey Umoh, told journalists that Jonathan does not deserve the numerous criticisms that had trailed his administration since he handed over power to President Muhammadu Buhari on May 29, 2015.

“This allegation of linking the former president to the NDA militants is baseless and it is incongruous with the well acclaimed peaceful and highly patriotic disposition of Jonathan.

“Linking him therefore, to a militant group is highly mischievous and provocative.

“The insinuation of the security probe is the contraption of those who want to fulfill the wicked plot to break up Nigerian,” Umoh said.

Umoh stated that the forum was concerned that despite the economic difficulty the nation

was passing through, there was rising wave of terrorism in the northern part of the country, and that Christians in that region have become deliberate targets of such attacks.

The forum therefore, urged Buhari to address the brewing tension in the region by curbing further spread of religious hostilities.

Continuing, Umoh said: “We equally condemn in strong terms, the renewed attacks on Christians in the North at the slightest instinct and the unabated invasion of Christian communities by the so called Fulani herdsmen. The seeming inactions by the authorities beyond mere rhetoric, coupled with grazing bill are fuelling apprehension that there is a real plot to Islamise Nigeria.

“The recent declaration by the new leadership of Boko Haram to target only Christians is a serious concern.

The outcome of a continuous act of such assaults can only be catastrophic has given everyman the instinct for self preservation.

“We therefore call on Mr. President to take urgent steps to douse this tension in order to restore the hope of one Nigerian nation. He should ignore those urging him to maintain iron fist and embrace true dialogue. He should consider the complexity of the Nigeria state and pay listening ears to the call for restructuring of the country which may bring about better co-existence.”

Nigerian Law School Class of 85, Honors Mates and Pledges to Assist Alma Mater The Class of 85 of the Nigerian Law School has held its annual reunion with a pledge to assist the school with a donation of two hummer 18-seater buses to aid its transportation challenges.

The 85 class is among the top five of the law school sets actively operating in the country with a Lagos lawyer, Chief Emeka Ngige (SAN) as its Chairman.

In the recent past, the class had donated hundreds of text books worth over N10million to the school library.

At the reunion presided over by the leader of the class, Prince Lateef Fagbemi (SAN), awards were presented to 17 members of the class who had distinguished themselves in various spheres of legal practice.

Those honoured included the Chief Judge of Osun State, Justice Adepele

Oyebola Ojo, the Solicitor-General of the Federation, Mr. Taiwo Abidogun, a judge of Federal Capital Territory, Justice Jude Okeke, Mr. Granville Abibo (SAN), Mr. Dejo Lamikanra (SAN), Aham Eke-Ejelam (SAN) and Dean of Faculty of Law of University of Lagos, Prof. Ayo Atsenuwa.

At the occasion more than N5million was raised by the members in support of the Class project to donate two hummer 18-seater buses to the school.

Among over class members who attended the occasion were Justice Moore Adumein of the Court of Appeal, Francis Ekwere, the immediate past First Vice President of NBA, Chief BEI Nwofor (SAN) the leader of the Port Harcourt chapter, Mia Essien (SAN) and Justice Elsie Thompson of African Court of Human and Peoples Rights, Arusha, Tanzania.

His words: “Further interaction with the staff of the murdered lawyer revealed that it was clearly a case of premeditated murder considering the dimensions of what happened.

“The APC wishes to be on record that the Rivers State Government and their agents must be held responsible for the killing of Ken Atsuete and the reasons for our charge are obvious and lucid.

“Late Atswete was one of the leading counsel to APC chieftain, Hon. Ojukaye Flag-Amachree, who is presently incarcerated on trumped-up charges surreptitiously inspired and driven by the Rivers State Government led by Nyesom Wike. Officials of the state government have variously vowed to teach the APC and its leader, Hon. Chibuike Rotimi Amaechi a lesson by jailing one of its most active leaders, Flag-Amachree.

However, Atswete, as counsel to Flag-Amachree, had thrown in everything into the defence of his client to the chagrin of officials of the state government who are the traducers of Ojukaye Flag-Amachree.

“Again, late Ken Atswete had not relented in standing with citizens and public servants against the wrongful use of state power.

The many cases he has instituted in this regard attest to that fact.

“Most importantly, we know that last week, late Atswete threatened while on a radio programme that he would [this week] expose how the Publicity Secretary of the PDP in Rivers State, Samuel Nwanosike,

obtained a forged court order restraining INEC from releasing Tai rerun election results – a court order the PDP has been parading.

Late Ken promised to present proof that such a court order did not exist and that the judge that purportedly gave that order was not a vacation judge as she had been on vacation in the US. “Unfortunately, they ensured he never saw this week and therefore cannot now expose those characters.

They may have stopped Ken in his track but they cannot stop God from exposing them.”

Ikanya also said the late Atsuete had complained severally to close associates that he was being sent threat text messages, phone calls and sometimes physically attacked by those he suspected were agents of the state government for speaking out on topical issues that made the government and its officials ostensibly uncomfortable.

While commending the police for promptly commencing investigation, he expressed the hope that the police would rise to the occasion by swiftly unravelling the circumstances of the gruesome killing of the activist.

He also called on the Nigerian Bar Association (NBA) to rise up to the challenge of prevailing on the relevant authorities to unravel this heinous crime.

“If a lawyer handling cases for the opposition in Rivers State could be this cheaply assassinated, who knows who will be the next victim,” he warned.

But in its reaction to the murder,

the state PDP said while it was pained by the killing, the APC should not politicise the demise of the activist.

In a statement issued in Port Harcourt yesterday, the state Chairman of the PDP, Felix Obuah, through his media aide, Jerry Needam, said Atsuete’s death threw the party into mourning.

“The PDP Chairman, out and out, condemned the murder of the young, energetic and sound-minded lawyer, Atsuwete, who has over the years contributed significantly to the respect of human rights, the rule of law, social and criminal justice, as well as democracy and good governance in the State,” he said.

According to the statement, Obuah said: “His death is an unfortunate and incisive cut in the vanguard in defence of democracy and the administration of justice.”

The statement, while calling on the police and other security agencies not to leave any stone unturned in unravelling the perpetrators of the dastardly act, said: “The PDP reiterates its consistent appeal to politicians, particularly, Dakuku Peterside, Magnus Abe, Davies Ikanya and other members of the opposition APC not to play politics with issues of security, including the senseless killing of Atsuete, which is a great loss to all Rivers people.

“Development like this, we believe, should be taken seriously without an injection of an iota of political sentiment or statement as those emanating already from leaders and members in

the opposition party, the APC, in the state. It is therefore, our candid view and request that we all put hands on deck to support the various efforts of our performing governor, Wike, in tackling issues of insecurity and social vices in the state,” Obuah stressed.

The statement further said: “The PDP heartily sympathises with the family of Atsuete and the human rights community, believing that justice will take its course on those responsible for the killing.

“The Rivers State PDP Chairman also appeals to all concerned persons, stakeholders and institutions to allow the police carry out their investigations into the murder and to do everything to maintain the peace in the state.”

Describing Wike as a peacemaker and godly man, Obuah condemned APC leaders in the state for attempting to drag the name of the governor and the PDP into the assassination.

“Only evil men, like the APC leaders in Rivers State dance naked on graves and politicise death and issues of security,” he said.

Meanwhile the Rivers State Government has condoled with the family of Atsuete, over his sudden death, describing the incident as tragic.

In a statement issued in Port Harcourt yesterday, the state Commissioner for Information and Communications, Dr. Austin Tam-George, said the government would work with the police to bring the culprits to book.

WE STAND BY YOU

Rivers State Governor, Nyesom Ezenwo Wike (right), exchanging pleasantries with the widow of Captain Elechi Amadi, Preye, after the inauguration of the state burial committee for Amadi by the governor at the Government House, Port Harcourt...yesterday

Budget Padding: CSOs Task EFCC to Investigate Dogara, Others Shola Oyeyipo The Economic and Financial Crimes Commission (EFCC) has been urged investigate the Speaker of the House of Representatives, Hon. Yakubu Dogara and other principal officers of the House on the allegations of padding 2016 budget, to ascertain their level of culpability in the matter.

In a petition addressed to the acting EFCC Chairman, Mr. Ibrahim Magu and received on his behalf by the head of the Lagos office, Mr. Iliyasu Kwarbai and signed by the Executive Director, Conscience Nigeria, Tosin Adeyanju and the Executive Director, Center for Public Accountability, Femi Lawson, the coalition of civil society said the

anti-graft body should unearth facts behind the padding by investigating all those involved in the interest of the country.

Members of the groups who marched to the Lagos EFCC office yesterday, said as stakeholders in the Nigerian project, they want the commission to commence an immediate investigation into the allegations of padding of the 2016 budget by the leadership of the House.

“We are disturbed by what seems to be the grand conspiracy by some persons to discard the enormity of the depth of corruption involved in the entire scenario as Nigerians have been made to know over the past couple of weeks. It would be

recalled that sometimes in June this year, the former Chairman of the House of Representatives Committee on Appropriation, Hon. Abdulmumin Jibril, spilled the beans on the numerous insertions that were illegally imputed into the 2016 budget of the country by the principal officers of the House in the course of working on the budget submitted to the National Assembly by President Muhammadu Buhari for personal gains.

“Even though this practice of padding the budget illegally did not start today, we are worried that the present crops of members of the House are still in the business despite the stance of the current administration on

issues of corruption”, the petition read in part.

They argued that there was the need to look deeply into the matter against the background of the allegation that Dogara got N3billion worth of projects for his constituency, diverted federal water project meant for people of Bauchi State to his farm in Nasarawa State, that the deputy Speaker, Hon Yusuf Lasun, got N2.5billion worth of projects for his constituency, Hon. Ado Doguwa got N1.8billion worth of projects for his constituency with others like Leo Ogor, Abdulmumini Jibrin, Femi Gbajabiamila, Bala Jibril, Pally Iriase, Chukwuka Onyema and Binta Bello all got varying amounts of projects for their constituencies.

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Presidency List Gains of Buhari’s Participation at TICAD The presidency has listed the gains of President Muhammadu Buhari’s participation in the just concluded Tokyo International Conference on African Development (TICAD VI) to include the billions of dollar to be injected into African economies

by Japan.

A statement issued in Abuja yesterday by the Senior Special Assistant on Media and Publicity to the president, Garba Shehu, said the Japanese Government had pledged to expend 40 billion dollars to boost the African economies in the next four years.

He gave the breakdown of the amount as 10 billion dollars to be injected in the next 12 months while the remaining 30 billion dollars would be expended over a three-year period on areas key to African economies, targeting infrastructures such as roads, energy, ports, hospitals and training institutions.

According to him, the TICAD seeks a win-win partnership between Japan and Africa.

He added that a key objective of the conference was to build up African ownership of its own vision of growth and development.

“In furtherance of this, Japan seeks to differ with the other players on the continent by placing emphasis on high quality infrastructure that do more than job creation by transferring technology through the training of youth and women.’’

According to Shehu, for Nigeria in particular, the conference’s milestones include the important meeting between President Buhari and Prime Minister Abe, at which event problems militating against the inflow of Japanese investment into Nigeria were discussed and agreed upon.

He said, “Japanese companies had done a lot by way of investment in the past in Nigeria but there has noticeably been a drop in the last decade or two. Chiefly to blame is the problem of security, disguised in official discussions as `business environment.”

He stated that President Buhari used the meeting effectively in giving assurances that the problem was being addressed.

“Boko Haram terrorism is nearly gone and sabotage in the Niger Delta will soon be ended preferably through dialogue and

if not, by force of arms.

“Coming into close personal contact for the second time, the two leaders discussed the issues of trade and investment, health, peace and development of the continent.

“In addition, they discussed issues in diplomacy and international relations.

“President Buhari’s statement at the Head of States’ round table meeting with business leaders underscored the serious efforts government is making to improve Nigeria’s notoriously bad business environment.

“At this meeting, he announced the coming into place of a soonto-be inaugurated “Presidential Enabling Business Council, PEBEC.” “He described it as an interministerial council to oversee the efforts of government to remove various bottlenecks that stifle business and economic activity to give way to the right enabling environment and investment climate in Nigeria.

“It will be powered by the government but will be privatesector driven.

“According to its vision, the PEBEC will make Nigeria one of the most attractive business destinations in the world.

“It will start with the modest effort of moving the country up 20 points in the World Bank ranking in the ease of doing business in the first year, taking it into the top 100 at the end of the fouryear mandate of the current administration.

Mr. Shehu said the third takeaway was on the sidelines of the TICAD where the Nigerian government delegation met a good number of big Japanese enterprises.

He said, “collectively and individually, these businesses expressed their intention of either coming in newly or expanding their participation in Nigeria’s private sector.

“The companies with varied interests in power, agriculture, automobile, motor cycles, textiles, financing and the service sector included the Honda Manufacturing (Nigeria) Limited, representing Honda Motor Co. Ltd; Japan Tobacco Inc., Marubeni Corporation and Mitsubishi Corporation.

THE ENERGY IN NIGERIAN STARTUPS IS AMAZING, SAYS FACEBOOK BOSS, ZUCKERBERG In a bid to further grow the market, Facebook launched its FreeBasics service in Nigeria in May, targeting a bulk of the population who cannot afford internet access.

The service will allow users to access Facebook as well as other listed websites at no cost.

For his part, Zuckerberg has also given several nods to Nigeria over the past year, acknowledging the work of start-ups like BudgIT and job listing service, Jobberman. Most recently, the Chan Zuckerberg Initiative (CZI), founded by Zuckerberg and his wife, led a $24 million investment round

in Andela, a Lagos start-up that trains and outsources local software developers.

The first major investment by the foundation, it was heralded as a big bet on the future of African tech.

Zuckerberg is in Nigeria to listen and learn and take ideas back to California on how Facebook can better support tech development and entrepreneurship across Africa.

CcHub, which was the first place Zuckerberg visited yesterday, opened in 2011 without an office space. Five years later it occupies three floors and the roof of a building.

“Others included Toyota Tsusho Corporation, Toyota Tsusho (Nigeria) Limited, an affiliate of Toyota Tsusho Corporation, West African Seasoning Co. Ltd., affiliate of Ajinomoto Co. Inc., and Japan External Trade Organization, JETRO’’.

He stated that at these meetings, they explored the scope for the incentive packages the Nigerian government would give them to deepen and expand their investments.

He said that these included export rebates, access to Foreign Exchange, land, interest rates, transparency in business regulation and favourable regulatory structure.

Shehu according to the News Agency of Nigeria (NAN), said the fourth important takeaway of the conference was the formation of a new group KENSA made up of industry leaders on the continent, Kenya representing East Africa,

Egypt for North Africa, South Africa for the South and Nigeria, from West Africa.

The presidential aide said the fifth takeaway of the conference was that Nigeria and Kenya seized the opportunity of the meeting of their leaders to strengthen bilateral relations and follow up on the achievements of the State Visit to Nairobi by President Buhari, earlier this year.

“From the time of the visit, both countries have seen a growing impetus for trade and investment between them.

“Kenya which discovered oil lately is picking lessons from Nigeria’s vast experience in oil and gas.

“Nigeria is learning from Kenyan experience in managing animal grazing.

“There are efforts on both sides to share experience and promote private sector participation in trade, cooperatives, micro finance,

cotton farming and palm oil processing.

Shehu said under the auspices of the Bank of Industry and the Nigerian Investment Promotion Council (NIPC0), several memoranda of understanding were signed between Nigerian parties and their foreign counterparts.

“From many of these, investments and jobs would follow.’’

He said the conference was significant in the sense that this was the first time it took place in Africa.

“They met in Japan all the time in the past.’’

According to him, another significant departure is the recognition of the role of the private sector in the economic take-off of the continent.

“In this respect, more than 100 Chief Executive Officers, CEOs from leading Japanese companies

accompanied Prime Minister Abe. “This is a clear indication that more and more Japanese companies are eying the African continent.

“A modest number of Nigerian business and state-owned enterprises were equally present.’’

The TICAD was held every five years from when it started in 1993 until the last edition in 2003 when it was decided that it should be convened every three years instead.

On the president’s delegation were the Ministers of Agriculture, Health, Budget and National Planning, and Industry, Trade and Investment.

There were also the National Security Adviser (NSA), and the Director-General, National Intelligence Agency (NIA).

“Members of the delegation expressed satisfaction with the outcome of the conference and the side engagements,’’ Shehu said.

AFFORDABLE PAY TV

L-R: General Manager, Marketing and Sales, MultiChoice Nigeria, Martin Mabutho; General Manager, GOtv, Akinola Salu; and Public Relations Manager, GOtv, Efe Obiomah, during a press conference on the launch of GOtv Lite (aka Small Pepper) in Lagos...recently

Women Affairs Ministry, NDI, Others Call for Passage of Gender Bill Senator Iroegbu and Jessica Odewimgie in Abuja The Ministry of Women Affairs, the National Democratic Institute (NDI) and non-governmental organisations yesterday in Abuja called on the National Assembly to fast-track the passage of the Gender Equality Opportunity Bill into law in order to bring about economic growth, help protect violence against women, ensure equal opportunities and access to finance in Nigeria.

Speaking at the national tribunal on violence against women and gender and equal opportunity bill organised by the Civil Resources Development and Documentation Center (CIRDDOC) in Abuja, a director in the Ministry of Women Affairs, Esther Eghobamien, said the bill if passed would enhance protection of violence against women.

According to her, “At the ministry, when the gender equality bill was thrown out in March, we were aggrieved, we have deepened our collaboration with the National Assembly by having a core team working with the Senate President

to review the bill alongside the United Nations’ women.

“We have criticised the bill, analysed it and identified areas of the bill where we think they may not pay-off for women, particularly areas of education because we know that in many areas of the country, there are affirmative actions on education for women and girls; if we say we want equality in those areas, we will loose positions of affirmative actions.”

She further called on pressure groups to continuously push for women’s right to be protected by law, which according to her, is what the bill stands for.

The Executive Director of CIRDDOC, Oby Nwankwo, said that the tribunals are not legal proceedings but have effected significant changes in attitudes and policies concerning women.

“By having victims of violations speaking publicly about abuses and bring out the violations of human rights involved in the actions, they attract condemnation of the violations from well meaning people’’, she said.

“The objective of this tribunal is to bring to a fore the cultural, traditional and religious beliefs and practices that inhibit women’s enjoyment of human rights and promotes violence against women.’’

Also at the tribunal, the Country Director of the National Democratic Institutes (NDI), Jasper Veen, said all around the world, people are advancing and embracing gender equality and claiming their rights to participate in politics.

“We must ensure that women are politically active, without experiencing any form of harassment or assault, Sadly, Nigeria has around five-six percent of women participation in elected office,” Veen further said.

He said the NDI is supporting a number of political parties and civil organisations to see how political parties can be more inclusive and allow women to run and aspire for offices and become effective politicians for their constituencies as well as highlight women who are effective in various constituencies.

Former Executive Director, African Women Development Funds, Bisi Fayemi, said Nigeria cannot be called the giant of Africa,

if they have at least 50 per cent of her population completely disenfranchised, powerless, has no access to resources, bartered, bruised and humiliated without rights.

“Nigerian women are not fighting their men, we are not going to displace a patriarchy and put a matriarchy in place, what we want is a society in which men and women can live together in peace and harmony and where we can have. A healthy relationship,” she said.

In the same vein, the veteran actor, Mr. Sydney Dialla, commended the initiative and efforts of CIRDDOC and other stakeholders.

Dialla assured that Nollywood would help to ensure that the issue of violence against women and the need for women empowerment would be well projected by the Nigerian film industry.

“We want to thank the organisers for this initiative to ensure that women are not relegated to the background. And the truth is that the background is not the place reserved for women,” she said.

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WEDNESDAY AUGUST 31, 2016 • T H I S D AY

CRIME&PUNISHMENT

Pastor Paraded for Raping Boy David-Chyddy Eleke inAwka The police in Anambra State have paraded a pastor with Jesus Miracle Ministries, Ifite-Awka, Pastor Ekene Adoji for allegedly raping a 13 year old boy (name withheld) in his church.

THISDAY gathered that the incident happened recently after a night vigil in the church.

The victim who hails from Ikwo in Ebonyi State, had narrated his ordeal, saying, “I wanted to go home after the night vigil, and I told the pastor in charge of the

church, but he said I should wait that it was still too early and was dark too.”

As he waited for dawn, the victim said the pastor applied a substance on his eyes which forced him to sleep, and he noticed on waking up that his trousers were torn, and his anus aching.

The Anambra State police Public Relations Officer, Mrs. Nkiru Nwode, who paraded Pastor Adoji, said he had escaped after committing the crime, but was lured into police net by releasing his mother-in-law, while policemen

disguised as members laid siege for him.

Adoji however denied having canal knowledge of the young boy in an interview with journalists, saying it was only a calculated attempt to put a dent to his name.

But doctors on examining the victim had confirmed that there was penetration through his anus, just as the victim confirmed that his anus aches.

A relative of the victim, Ngozi, had earlier confirmed the incident, saying they were not aware that Abuchi went to the church that

night, but after forcing the truth from him, they rushed to the church only to find out that the pastor had absconded.

The PPRO has advised parents to keep their children away from the reach of people with questionable character.

She stated that some people now hide under religion to perpetuate evil and atrocious acts.

She added that investigation into the matter would continue, and the suspect would be charged to court for appropriate punishment.

Military tanks on patrol in Warri...yesterday

LASG to Arraign Kidnappers of Lagos Monarch

Police Nab Herdsman with AK47 Rifle in Enugu

Gboyega Akinsanmi

Christopher Isiguzo in Enugu

The Lagos State Government yesterday said it would soon arraign four suspects arrested in connection to the abduction of Oniba of Iba, Oba Goriola before a court of competent jurisdiction.

The Attorney General and Commissioner for Justice, Mr. Adeniji Kazeem, made the disclosure in a statement he issued yesterday, assuring the residents of the state that no criminal would go unpunished.

As contained in the statement, Kazeem said the state government had concluded plan “to charge the suspected kidnappers of the monarch to court for criminal conspiracy, kidnapping, murder and armed robbery.

He said the four suspects – Duba Furejo, Ododomo Isaiah, Reuben Anthony and Yerin Fresh would be prosecuted in accordance with the relevant laws applicable to the alleged crimes committed.

Already, the attorney-general said his office had issued legal advice for the prosecution of the suspected kidnappers, noting that the suspects “will be charged for offences of conspiracy for kidnapping, kidnapping, and two counts charge of murder and armed robbery.”

Kazeem said the charge would be filed expeditiously at a Lagos High Court “to ensure prompt prosecution of the suspects,” thereby restating the commitment of Governor Akinwunmi Ambode’s administration “to prompt justice administration.

A 20-year-old suspected Fulani herdsman, Ibrahim Adamumale, from Nasarawa State was yesterday nabbed by operatives of the Enugu State Police Command allegedly in possession of Ak 47 riffle with 24 rounds of live ammunition.

The arrest of the suspect came three days after the command equally arrested another 20-year-old Umaru Isah from Gusau, Zamfara State, suspected to be one of the herdsmen that attacked and killed a Catholic Seminarian, Lazarus Nwafor and injured four others including a pregnant woman at the Ndiagu Attakwu-Akagbeugwu community in Nkanu West local government area of the state in the early hours of Thursday last week.

Also, major stakeholders in Nkanu West council including former Governor Chimaraoke Nnamani, who was represented, a member of the House of Representatives, Emeka Ujam, Commissioner for Commerce and Industry, Sam Ogbu-Nwobodo, serving and former council chairmen as well as heads of parastatals and special sides to Governor Ifeanyi Ugwuanyi have convened an emergency security meeting with a view to map out strategies to ward off future attacks.

They condemned the ‘dastardly act’ by the herders in the area last week in strong terms.

The stakeholders who attended the meeting convened by the council chairman, Afam

Police Arrest Fraudster who Lures, Rapes Female Victims The Lagos State Police Command has arrested a 30-year-old man, one Falose Oluwoye Nifemi, who posed as a banker on the social media space, to first lure his female victims, then rape them. The fake banker, was said to have been luring young ladies with fake business proposals and ends up raping them in the process at his Lagos residence. It was gathered that the suspect, on his facebook profile, claimed to have attended Madonna University, Okija, Anambra State, but investigations later revealed that he is merely a school certificate holder. In his confessional statement, the suspect said: “I met the girls on facebook and they are runs girls who accepted my proposal because of the financial inducement I usually put before them.

“It was not a case of rape but strictly business proposal. I met them on facebook and we agreed on a price. The last attempt which blew the lid was another of such. I met the lady on facebook and I promised to pay her N100,000 after the meeting. “During our discussion, we agreed to meet in an hotel in FESTAC. I did not know that she is a friend to one of the girls I met previously. It was the lady that called in the police. “The other lady who claimed to have been raped by me was not also raped. The only thing that happened was that I met her on facebook as usual and we agreed on an amount. “We met in an hotel after our excapade in the room we went to the reception to get food and drinks. While she was eating I told her that I want to get something from the room. “When I got to the room, I searched her bag. Inside I saw her phones and some money. I took the phones and cash and left without her knowing. “My advice to ladies is that they shouldn’t love a man because of money. Materialism and love of money, is killing most girls that use social media.” He, however, admitted to have had sex with only two and stole from them. Police believed there are other victims. The state Commissioner of Police, Fatai Owoseni, who confirmed the incident, described him as a serial facebook rapist, who was arrested in FESTAC Town while attempting to rape another of his victim. Owoseni said already about five girls had fingered him for chatting them up on facebook, soliciting for sexual friendship.

NAF Helicopter Bombards New Boko Haram Camp in Northern Borno

OPERATION SHOW YOUR STRENGTH

“As part of its commitment to make the State a safe place to live and do business, will continue to support law enforcement agencies in the investigation and apprehension of all criminals, especially those involved in heinous crime of kidnapping, armed robbery and murder.

“The Ambode administration is committed to ensure that Lagos State becomes a no-go area for criminals who target innocent citizens for kidnapping and collection of ransom.

My office will continually give the necessary support to the police in apprehension, investigation and prosecution of criminals in Lagos State.”

He urged residents “to promptly provide information that could lead to the arrest of criminals. The state government would continue to work assiduously to ensure that criminals are brought to justice.”

He also said that the state government “is desirous to prosecute to logical conclusion and promptly all criminal cases as well as ensure that suspects are brought to justice swiftly.

“During the unfortunate and dastardly crime, the security guard in the palace and a commercial bike rider were killed, while the monarch was whisked away and kept in captivity for about three weeks.

“The sustained pressure and intelligence gathering from law enforcement agencies, however, led to the rescue of the monarch, while the four suspects were apprehended in the process.”

In Brief

Okereke aimed at initiating actions that would help forestall future attacks by the herdsmen decried the “unprovoked attack” by the suspected herdsmen, while asking the federal government to fashion out strategies that would effectively put the herdsmen in check across the country.

They spoke as the Councillors’ Forum, an association of former and current councillors in the state called for an immediate ban on grazing in the state.

Speaking to newsmen shortly after their visit of the community, leader of the Councillors Forum, Hon. Chidiebere Okoh noted that the situation has become so serious that it should no longer be treated with kid gloves.

“Just as we condemn the act, we cannot continue to fold our arms not knowing what tomorrow has in stock. This is getting out of hand and it is time to act. We have, thus, decided as a body, to call for an immediate ban on any form of grazing across the length and breadth of Enugu State.” Okoh said.

He called on the state House of Assembly to urgently make a legislation outlawing grazing in Enugu State “be it by Fulani people or any other person for that matter.”

On their part, the police command in a statement issued by the Public Relations Officer, Ebere Amaraizu, said Adamumale was arrested in Affa Udi Local Government Area of the state on Monday evening.

Upon interrogation, he claimed to be from Nassarawa State but lives at Hausa quarters 9th Mile.

The Nigerian Air Force (NAF) aircraft has bombarded the new camps established by the Boko Haram terrorists in the northern part of Borno State. The Director of Public Relations (DAPR), Group Captain Ayodele Famuyiwa, in a statement yesterday, said a night operation conducted on Monday, successfully destroyed a new Boko Haram Terrorist camp located between Malam Fatori and Kangarwa in Northern Borno. Famuyiwa said the new camp is about 4 to 6 kilometres away from the terrorists location attacked earlier on August 20, 2016 by NAF Mi-17 helicopter within the same vicinity in a similar night operation that led to the death of about 300 insurgents. He stated that “the post-strike Battle Damage Assessment (BDA) mission revealed that surviving terrorists had converged on the new location.” The information, he said, was later confirmed to be true by series of follow-up Intelligence, Surveillance and Reconnaissance (ISR) missions that led to the strike. He recalled that the general area around Malam Fatori and Kangarwa is infested with terrorists hence the need to clear their remnants in the area. The DOPRI stressed that “air assault is therefore expected to further degrade the capability of the insurgents while fostering the creation of the necessary enablement for own ground troops to operate.” Meanwhile, he said NAF Alpha Jets have helped to repel an attack by terrorists on troops of 153 Battalion who were on fighting patrol at Ala Lumshe. Famuyiwa disclosed that the troops on August 20, 2016, had come under attack from terrorists about four kilometres south of Marte when the Alpha Jets were called-in to dislodge the insurgents.

Security Agencies Destroy Dens of Fleeing Insurgents, Miscreants in Bauchi

The newly posted Assistant Inspector General(AIG) of Police in charge of Zone 12, Alhaji Jibrin O. Yakubu, has said the joint operations of security agents comprising army, police and the Department of State Service (DSS) have successfully destroyed dens of insurgents and miscreants fleeing attacks in Sambisa forest and other military operations in from Kano, Kaduna, Niger and Zamfara states forest who are seeking safe haven in Bauchi forests. Yakubu, while paying a courtesy call on Governor Mohammed Abubakar of Bauchi State yesterday said the major security challenge of the state is that of arresting the fleeing insurgents and miscreants like cattle rustlers and robbers who are regrouping in Bauchi forests, but expressed happiness that with logistics supports from the governor such dens of suspected insurgents and criminals have been destroyed and smoked out in Toro, Dass, Tafawa Balewa and Ningi local governments where the criminals were regrouping. The AIG said he paid the courtesy call on the governor as the chief security officer of the state and the chief host of zone 12 of the police which comprises of Bauchi, Borno and Yobe states. He said the joint operations of security agents comprising army, police and the DSS have successfully destroyed dens of insurgents and miscreants fleeing attacks in Sambisa forest and other military operations in from

T H I S D AY WEDNESDAY AUGUST 31, 2016

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T H I S D AY •WEDNESDAY AUGUST 31, 2016

WEDNESDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com

Dalung: Why Nigeria Performed Woefully at Rio2016 Says won’t resign as sports minister

Tobi Soniyi in Abuja Minister of Youth and Sports, Solomon Dalung has admitted that late release of funds to the nation’s Olympic team affected Nigeria’s performance at the just concluded 2016 Olympics Games in Rio, Brazil, The minister also said that the Nigeria Football Federation (NFF) had not informed him that it hired a new foreign coach for the Super Eagles even as he described as unfair the federation’s treatment of Dream Team’s coach, Samson Siasia.

Dalung has never hidden his preference for a local coach, but the NFF had recently announced a German coach, Gernot Rohr, to manage the Super Eagles.

Speaking with State House correspondents shortly after briefing President Muhammadu Buhari on Nigeria’s outing at the just concluded Rio2016, Dalung said he wished the new coach the best of luck even though NFF had not informed him of Rohr’s appointment.

He said he begged the president to host the Nigerian contingent to the Olympics Games in Rio, Brazil, despite winning only one bronze medal in football and coming 78th on the medals table.

The minister also rejected the claims that Siasia who handled the football team at the Olympics has resigned, saying the true situation was that his contract with the NFF had lapsed.

Dalung faulted the way

the NFF treated Siasia when it withdrew his official car in Abuja while struggling to secure a medal for the country in Rio. The minister insisted Siasia was still relevant to football development in Nigeria, advising that he (Siasia) could be re-engaged based on his track record and pedigree.

According to the sports minister, it would be sad to have someone like Siasia leave Nigeria to go and represent another country out of frustration, just like many athletes did at the Rio Olympics.

Dalung also exonerated the coach and his team over the $390, 000 donation they got from a Japanese surgeon.

The minister insisted that he was convinced after meeting the Japanese in Brazil that there were no strings like match-fixing attached to the donation, He however attributed the abysmal outing of the Nigerian Olympic contingent to late release of funds and inability to develop home-grown talents, noting that many athletes in the continent that performed relatively better were homegrown.

Dalung also told reporters that there was need to go back to the drawing board by reviewing the basic architecture of sports in the country.

“We need to go back to grassroots and groom talents for future competitions,” he said.

Dalung also took on his

Rohr (2nd right) with other Super Eagles coaches at training in Uyo ahead of Saturday clash with Tanzania in a dead rubber AFCON 2017 qualifier critics, saying they were ignorant of facts.

“I am not the problem of Nigerian sports because abysmal performance predates my appointment,” he charged.

Asked what he briefed the president concerning the just concluded Rio Olympics, he said: “It is normal if somebody

sends you on an errand, when you accomplish that task you first and foremost brief that person before you go public to start talking to outsiders.

“So, all I did was to brief the president on our performance, the challenges we had, the progress we made because in 2016 Nigeria was celebrated.

“These two (Nigerian) athletes (Aruna Quadri and Ukogu) were recognised internationally in Rio; that happening to Nigeria is an achievement.

“And I also requested from him (President) the support for getting a date to organise a reception for our Dream Team

VI that won the bronze medal for us.

“He ( Buhari) also appreciated our performance and thanked us for doing the country proud and keeping the flag flying. He challenged us to do more for the country to move forward in sports,” concludes Dalung.

Iheanacho ‘Bigger Coach Rohr Takes Charge as 20 Eagles Train in Uyo Boy’ than Mikel at £85,000-a-week Manchester City starlet Kelechi Iheanacho is now the top Nigeria earner in the English Premier League on 85,000 pounds-a-week to knock off Chelsea star John Mikel Obi. This month, Iheanacho signed a new two-year contract extension at City till 2021, saying his new contract will “change the lives of his family”.

Mikel, who moved to England 10 years ago, has been the ‘Biggest Boy’ from Nigeria for

Iheanacho

many years and he is now on 70,000 pounds a week at Stamford Bridge.

The midfielder’s compatriot at ‘The Blues’, Victor Moses bagged a 50,000 pounds-a-week when he joined Chelsea from Wigan Athletic in 2012.

Watford striker Odion Ighalo is believed to have improved on his 25,000 pounds-a-week after he recently signed a contract extension.

Defender Kenneth Omeruo is on 15,000 pounds every week even though he has yet to play an official match for Chelsea.

It was further gathered that Iheanacho’s new handlers negotiated this bumper deal even though they are still locked in an ownership tussle with the player’s previous representatives, who are based in the United States of America.

Iheanacho’s former agents had proposed a new contract of 50,000 pounds-a-week for the 19-year-old forward.

He earned less than 18,000 pounds-a-week when he first joined Manchester City.

Franco-German coach, Gernot Rohr, took charge of the Nigeria senior men’s squad, Super Eagles, for the first time yesterday as the team began training sessions ahead of Saturday’s 2017 Africa Cup of Nations qualifier against Tanzania.

Rohr and a number of players could not fly to Uyo from Lagos on Monday as ARIK airline eventually

cancelled their flight after many hours. But the entourage landed in Uyo just after noon yesterday.

On arrival at the team’s Le Meridien Hotel, Coach Rohr had a meeting with his assistants, backroom staff and players present, before the evening’s training session at the Godswill Akpabio Stadium.

In camp as at Tuesday evening were Skipper

John Mikel Obi, Assistant Captain Ahmed Musa, goalkeepers Emmanuel Daniel and Ikechukwu Ezenwa.

Defenders in camp include, Musa Muhammed, Chidozie Awaziem, Abdullahi Shehu, Jamiu Alimi, Leon Balogun, William Troost-Ekong and Elderson Echiejile.

The midfielders are Ogenyi Onazi, Wilfred Ndidi and Nosa Igiebor while the forwards

include Brown Ideye, Imoh Ezekiel, Kelechi Iheanacho, Victor Moses, Odion Ighalo and Victor Osimhen.

Team administrator Dayo Enebi Achor confirmed yesterday that Belgium –based Moses Simon and Slovakia –based Kingsley Madu will arrive today.

The delegation of Tanzania’s Taifa Stars is expected to arrive in Nigeria today, while the match officials will jet in tomorrow.

Jos High Court to Rule on LMC Appeal Today Mr. Justice I. I Kunda of the Plateau State High Court, Jos on Monday adjourned to today the suit for the reinstatement of Giwa FC into the Nigeria Professional Football League (NPFL) 2015/16 season.

The judge will today rule on the issue of whether he can continue to hear the case, after LMC had appealed against his order of interim injunction.

At the resumed sitting in a case filed by one Mustapha Abubakar seeking to reinstate Giwa FC into the NPFL and also reschedule all the games the club was excluded from playing following its expulsion in May. The only issue argued by counsels on both sides was whether the Judge can

continue to hear the matter in view of the appeal filed

by LMC against the earlier interim order of the Judge made on 12th August, 2016.

When the case came up, the LMC’s Counsel, Olumide Olujinmi, informed the court that the league body had filed an appeal against the interim order and applied to the court to adjourn the matter sine die pending the outcome of the hearing of the appeal by the Court of Appeal in accordance with decided cases and legal authorities.

He referred the court to the affidavit of pending appeal filed by LMC to this effect.

But the application was opposed by the counsel for Abubakar, H.S. Adzard, who though admitted to having

been served with the affidavit of pending appeal.

Adzard had argued that there is no pending appeal since the records of proceeding has not been transmitted to the Court of Appeal within 60 days as required by rules.

He also contended that the Affidavit of Pending Appeal was incompetent and urged the court to go on with the case.

H.O. Maduabuchi, the attorney whose authority to appear in the matter for Nigeria Football Federation (NFF) on the claim of having been appointed by one Yahaya Adama associated with a renegade group led

by Mr Chris Giwa is yet to be resolved, adopted the submissions of Adzard, and

urged the court to continue the hearing of the case.

In his reply, Olujinmi cited further cases and authorities and submitted that in view of the facts of the case and these authorities the High Court was now barred from hearing the case.

He alerted the court to the ploy of the opposing Counsel who, he stated, was only trying to get the judge to decide or rule on issues already properly submitted to the Court of Appeal for adjudication. He urged the court to resist this attempt by the opposing Counsel.

The judge then requested Olujinmi to furnish the court with copies of the legal authorities he had cited which the LMC counsel undertook to do.

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WEDNESDAYSPORTS

Toriola Targets another Outing at Japan 2020 Olympics Femi Solaja The hope of younger table tennis players to rise to stardom may have to wait a while following the decision of Nigerian ping pong legend, Segun Toriola, not to step down yet from the Olympian height for the new generation to mount the podium.

At age 42, Toriola was recently at the last Olympics Games inducted into ‘Club 7’ with other players who have participated in seven Games.

But yesterday, Toriola told ITTF newsletter that he still hopes to be at the next Olympics in four years time in Japan.

“I am still one of the best in my sport despite my age. My consistency in table tennis which sees me playing in two top regular clubs in Europe remains an added advantage for me as I continue to play in worldclass competitions,” Toriola noted.

He is the first African to compete at seven Olympic Games, Toriola was honoured at Rio 2016 and now he wants to continue to shift the goal post by making his eighth appearance at

an Olympic Games.

“Being 42 years old is one thing, being fit enough to continue playing top table tennis at top level is another.”

He continued, “I am very discipline and I religiously follow the things that will continue to aid my fitness in the game. Come Tokyo 2020, I will still be good to represent Nigeria in top grade international competitions until after the Tokyo Olympics.”

Toriola believes with the feat achieved by Aruna Quadri in Rio, both of them can inspire a younger generation of Nigerians to take up the sport.

“The recognition of my achievements by the IOC at the Rio Olympics was a very good one” Toriola added, “This serves as a motivation for the young table tennis players and a boost for them to work hard and do well in their career.

“They now know that when they distinguish themselves, they would be recognised by the international sports federations.”

“The fear of not having any top rated Nigerian player doing well at the international circuit for a long

time was one of the reasons I prolonged my playing career.

I was scared not having any quality players to hand over to when I retire,” he revealed.

However, Toriola said that with the emergence of Aruna he can begin to think of leaving the stage.

“But with the emergence of Aruna Quadri, I can now retire peacefully with rest of mind that, there is somebody worth continuing from where I stop. But this won’t happen until after the 2020 Tokyo Olympics. I am still very active and even then the Nigeria Table Tennis Federation has asked me to continue for now,” added Toriola.

He admitted that some countries were asking him to take up coaching job with their federations.

“Some countries approached me in Rio to take up the full-time job as national team coach, but I turned all the requests down as I am not ready to quit yet,” he remarked.

The hard working player made his debut at the Olympics Games in Barcelona in 1992. He competed at Atlanta 96, Sydney 2000, Athens 2004, Beijing 2008 and London 2012.

Toriola

Sports Reform Committee Report US Open 2016: Djokovic, Nadal, Kerber through to Next Round for Presentation Thursday The Sports Reform Committee set up by the Minister of Youth & Sports, Solomon Dalung, will present its report tomorrow at the National Stadium, Abuja.

The event scheduled for 12.30 pm is expected to attract many stakeholders who have eagerly awaited the report which hold a lot of promise going by the elaborate debates and

open house presentations from well placed resource persons.

The Committee inaugurated April 8 was expected to turnin its report July 14 but asked for a ‘reasonable extension’ to complete the project.

“It has been a lot of hard work and personal sacrifice on the part of the Committee members,” Chairman of the 12-member committee,

Godwin Kienka, said, adding, “We hope Nigerians will find it worth the wait.”

Members of the Committee include; Babatunde FatayiWilliams, Segun Odegbami, Mary Onyali, Sam Ahmedu, Florence Adeyanju and Laminu Waziri.

Others are Yusuf Datti, Demola Are, Despan Kwardem, Kayode Thomas and Ayo Olubato.

Rooney to Quit Internationals after Russia 2018 England record goalscorer Wayne Rooney will retire from international football after the 2018 World Cup in Russia.

The Manchester United forward was speaking to the media for the first time since new England manager Sam Allardyce confirmed he would keep the 30-year-old as his captain.

“Come Russia I feel that will be the time to say

goodbye to international football,” said Rooney, who has scored 53 goals in 115 England appearances.

“My mind is made up.”

He continued: “It’s still two years away. I started playing professional football when I was 16, and started playing internationals when I was 17.

Fifteen years is a lot. I’d be 34 by the next tournament.

“I’ve had a fantastic international career so far.

I’ve enjoyed every minute.”

If he plays in Sunday’s World Cup qualifier in Slovakia (17:00 BST kick-off), he will break David Beckham’s record for the most capped outfield England player.

“Russia will be my last opportunity to do anything with England so I’m going to try to enjoy these two years and hopefully I can end my time with England on a high.”

Eko Athletics Grand Prix in Lagos A two-day track and field meeting for all Lagos athletes will begin today at the Teslim Balogun Stadium in Surulere, Lagos.

Technical Director of the Lagos Athletics Association, Tony Osheku told the media on Monday in Lagos that the meeting will start at eight in the morning and end at five in the evening for the two-day duration of the meeting.

“The Eko Athletics Grand Prix is the brain child of the Lagos Athletics Association headed by our amiable Chairman, Professor

Olatunde Makanju and we are using it to serve two purposes. “The first is to use it to serve as selection trial to pick athletes who will represent Lagos state at the National Youth Games which will hold in Ilorin Kwara State next month,’ said Osheku, a former national middle distance king who trained Falilat Ogunkoya to two historic Olympic medals at the 1996 Atlanta Olympics.

“The second purpose is to gauge the preparedness of our athletes for the National Sports Festival albeit we don’t know whether the

festival will still hold this year or not,’’ he further said and listed events to be competed for at the Lagos meeting to include100m,200 m,400m,1500m,5000m,100m and 110m hurdles as well as the 4x100m and 4x400m relays.

“We also have some field events that will hold at the meeting. They are the long jump and shot put for boys and girls and men and women. Like I said earlier the competition is open to all Lagos athletes and there will be prize money for all events,” he further revealed.

Djokovic

Nadal

Kerber

World number one Novak Djokovic began his US Open campaign with victory over Poland’s Jerzy Janowicz despite the Serb requiring treatment to his arm.

Djokovic, who has struggled with a wrist injury, won 6-3 5-7 6-2 6-1 after calling the trainer in the first set.

Spanish fourth seed Rafael Nadal beat Uzbekistan’s Denis Istomin 6-1 6-4 6-2.

Germany’s Angelique Kerber, seeded second in the

women’s draw, led Polona Hercog 6-0 1-0 when the Slovenian succumbed to leg cramps.

Djokovic had spoken ahead of his opening match about the left wrist injury that has hampered him since the Olympics, but it was the right arm that appeared to be troubling the Serb against Janowicz.

He called a medical timeout after the fifth game to allow the trainer to work on his elbow

and upper arm, but promptly broke the Janowicz serve on his way to the first set.

The defending champion began the second set serving at below 90mph but Janowicz was too inconsistent to take advantage, and Djokovic eventually ran out a comfortable winner - at least in terms of the scoreline.

He goes on to face Jiri Vesely in round two - the Czech who beat him in Monte Carlo earlier this year.

Hotsports Partners Nigerian Sports Award Hotsports Nigeria Ltd. and Unmissable Incentives have signed a collaboration partnership for the marketing of the 5th edition of the Nigerian Sports Award scheduled for December 2nd in Lagos.

At the signing of the MOU at the HS Media Group headquarters in Oregun, Lagos on Monday, Chairman and CEO of Hotsports, Taye Ige stressed the need for objectivity to enhance the brand value of the Award.

“In the course of our interaction in this marketing project, we will look at the credible way of selecting winners for the Award,

because when the product is good, of course it becomes easy to sell in the market,” Ige said.

On his part, the General Manager of Unmissable Incentives, Kayode Idowu said the partnership with Hotsports will help to vibrantly drive the marketing potency of the Award to attract sponsors and make the Award more glamorous.

“After four years, we feel it’s high time for us to get corporate brands and organisations to be part of this big initiative so that we can adequately reward our sports men and women who have done Nigeria proud,”

Idowu said.

The partnership signing ceremony was witnessed

by Tade Adekunle, Project Consultant of Keskese and the company’s Senior Executive - Events, Okhuemoi Emi. Hotsports, a sports marketing and production company have a strong pedigree spanning over two decades of successfully marketing brand campaigns, special events and productions including the Super Eagles Tom Tom Road Show, Tom Tom Road To Brazil, Peak Action Moments, Guinness Action Diary, Guinness 50 Greatness Football Moments and a host of others.

Wednesday August 31, 2016

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Price: N250

MISSILE

Avengers to Buhari

”No amount of troops’ surge and simulation exercises will make you win the oil war, you can only win battles. You cannot apply the might of the state to restore the people’s confidence in your leadership when you cannot differentiate between genuine demands and being mismanaged by disorganised characters and tribal lords around you in your government” – The Niger Delta Avengers taking a swipe at President Muhammadu Buhari for threatening to give its members the “Boko Haram treatment” should they refuse to dialogue with the federal government.

OLAWALEOLUWO GUEST COLUMNIST

A Case for Political and Economic Restructuring of Nigeria

A

trajectory of available statistics suggests that the Nigerian economy may be heading towards a recession. For emphasis, the National Bureau of Statistics (NBS), through its quarterly report on the economy, has revealed that the Gross Domestic Product (GDP) of Nigeria contracted by -0.36% (negative growth) in the first quarter.

Recently, the Central Bank of Nigeria (CBN) reported that economic activities declined faster in June, indicating that the Nigerian economy may have entered into recession in the second quarter of 2016 (official data for second quarter performance will provide formal confirmation).

The IMF has forecasted that the Nigerian economy would contract by 1.8%, while the Finance Minister, Mrs Kemi Adeosun, has also confirmed the imminence of a technical recession. In theory, economic recession is a period of temporary or general decline in productive activities, which is typically measured by fall in GDP in two successive quarters. In reality, Nigeria is on the verge of full blown stagflation, a condition of slow economic growth, high unemployment accompanied by rising prices or inflation.

The Present Situation is Dire and Unsustainable The reasons may not be far-fetched, considering the unwholesome combination of internal and external factors at play. The price effect of the drastic fall in global oil prices, coupled with the drop in export volume from the pipelines bombing campaign of the Niger Delta Avengers, depleted Nigeria’s foreign exchange earnings. The fallout has been the massive devaluation of our currency, increase in unemployment rate, inflationary pressure (at 16.5%), increase in interest rate (the yield on FGN Treasury Bills – risk free instruments – was 21% on 15/08/16!) and general downturn in other economic and social indices. Expectedly, being a mono-cultural economy, the collapse in oil prices has had disastrous impact on governance at all levels, as the Nigerian economy is not insulated from the global economic crises. Some state governments find it extremely difficult to pay staff salaries and associated pension contributions, with no immediate solution in sight. The nation’s woes is further compounded by growing restiveness and ethnic agitations, among which is the Boko Haram insurgency (which is now abating), the Indigenous People of Biafra (IPoB) agitation for the actualisation of Biafra, and the endless conflict between herdsmen and farmers in various parts of the country, with the attendant implications for agricultural output reduction. Further delay in arresting the present trend could lead to serious political and social instability.

A New Thinking and Approach is Required Our problems are multi-faceted, covering economic, political and social, and the solution must be multidimensional in approach. Clearly, it cannot be business as usual anymore as concerted efforts must now be made to appropriately diagnose the problems and proffer workable solutions in order to avoid plunging our economy into full depression. Pertinent questions must be asked...

Where did we go wrong? How did we arrive here? How did we move from one of the fastest growing economy to an economy on the brink of recession? How can we navigate our way out of the present quagmire? And more importantly, how do we comprehensively restructure Nigeria in a way that will support our aspiration for a productive and egalitarian economy, a stable polity, and a fairer society. There is a need for reality check by all tiers of government in Nigeria (Particularly the

business concerns; and the reforms of 2002 to 2015 that restructured some of the commanding heights of the economy - banking, insurance, telecommunications, power among others. It is therefore clear that the solution to solving our structural economic problems must commence with the dismantling of the structural rigidities that have held the country down economically for decades.

Over centralisation is stifling

President Muhammadu Buhari Federal Government of Nigeria). Perhaps, in the process of conducting a reality check, we might just be able to retrace our steps by embarking on a far reaching and comprehensive restructuring beyond the cosmetic approach that the nation has been accustomed to over the decades.

The reality check by the federal government must start with asking the following questions: 1. Is it realistic to increase the size of the projected federal budget from N4.49 trillion in 2015 to N6.1 trillion in 2016 in the face of dwindling oil price and production cuts from militants’ bombing campaign?

2. Is it realistic to increase budgeted non-oil receipts from N800 billion in 2015 to N1.5 trillion in 2016 without a corresponding structure to drive the increase? Are non-oil earnings capable of 88% elasticity in the face of limited investments and government incentives?

3. Is it realistic to project external sources of financing a N2.3 trillion deficit in the 2016 budget when there is global recession and a downgrade of the country’s rating?

4. Is it realistic to project N1.5 trillion for debt servicing when capital expenditure is a meagre N1.6 trillion.

5. Is it sustainable for the federal government to continue to hold on to over 50% of the revenue of the nation, only to spend it on debt servicing, recurrent expenditure and subsidising the foreign exchange market, the natural gas market, the electricity transmission sector and downstream petroleum sector?

The Problem is Structural!

The direction of the on-going debate on the restructuring of Nigeria has been skewed towards yet another political restructuring. Nigeria, since independence, has undergone series of political restructuring programmes from creation of states at different times, to the complete change in the political system from parliamentary to presidential, to revenue mobilisation and allocation restructuring, and other forms of adjustments that are political in nature. It is as if every government at the federal level wants to conduct its own political/constitutional conference to restructure Nigeria. The fact that all the political restructuring initiatives to date have not addressed Nigeria’s problems is evidence that the problems are structural (and substantially economic). While the nation has carried out different political reforms, the only period that Nigeria can be said to have had serious economic reforms that had significant effects on the structure of the Nigerian economy were the reforms of 1985 to 1992 that divested government interests in various

The advent of the military in governance created a highly centralised political and economic system, with enormous power and resources concentrated at the centre. Instead of using the resources to build a solid economic base for Nigeria, a regime of over-bloated federal recurrent expenditure (almost 80% of budget year-on-year, subsidised government owned monopolies (Nitel; Nepa; Nigerian Railway; Nigerian Airways; NNPC; Nigerian Gas Company etc) with huge unfunded pension funds were foisted on the nation. Now that reality has dawned and the federal government’s revenue profile has reduced, the federal government cannot carry on with the existing administrative structure. The time to take the bitter pill is now. Accordingly, the federal government should carry out the following reforms: 1. Prune the existing structure and divest itself of some unwarranted administrative responsibilities.

2. Reduce ministries, merge functions and devolve more responsibilities to states.

3. Hand over intra-state roads to states while

keeping only inter-state highways to itself to connect the vast and scattered communities in Nigeria.

4. Give more autonomy to states with respect to control of inland water ways.

5. Hands off control of lottery business in states.

6. Limit the responsibilities of the Ministry of Solid Minerals at the federal level to regulation and cede control of solid minerals to states.

7. Divest itself from involvement in distribution of VAT (sales taxes).

8. Abolish the law that vests all mineral resources under the soil of Nigeria in the federal government.

This will allow states to partner with the private sector to exploit mineral resources and pay agreed derivation to the federal government.

9. Review mechanism for administration of PAYEE, to give the states more control.

10. Reduce taxes for companies and entrepreneur.

11. Allow more private sector involvement in the economy.

12. Divest from the natural gas infrastructure of Nigeria (including removal of subsidies) in order to create a competitive gas sector that will attract private investments and support the economy.

13. Divest from the Transmission Company of Nigeria and break the national grid to regional grids. This will allow private sector investments and eliminate the subsidy distortions.

14. Fully deregulate the downstream oil sector.

• Oluwo is Lagos State Commissioner for Energy and Mineral Resources NOTE: The rest of this article continues in the online edition of THISDAY: www.thisdaylive.com

A SHOT IN THE DARK SO, NIGERIA WILL BE IN THE TOP 100 BUSINESS-FRIENDLY NATIONS IN 2019, SAYS OUR PRESIDENT!

YES, BUT NOT BEFORE THE NEW COUNCIL HAS HAD ITS FAIR SHARE OF THE PAINS OF DOING BUSINESS IN NIGERIA AND THAT IS CERTAIN!

TO CARRY OUT THEIR ASSIGNMENT, THEY WILL FIRST HAVE TO GET THE GOVERNMENT AND ITS AGENCIES TO PROVIDE THEM WITH AN ENABLING ENVIRONMENT, DON’T THEY?

WHY NOT SOONER? AFTER ALL, THE PRESIDENTIAL ENABLING ENVIRONMENT COUNCIL HAS ALREADY BEEN SET UP FOR THIS PURPOSE!

HOW CAN YOU BE SO SURE?

HMM… SO THE 2019 MIGHT NOT EVEN BE REALISTIC!

31-08-16

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