Wednesday 7th September 2016

Nigeria’s Exports Grow By 63% to N1.873trn in Q2 Crude oil contributes N1.5trn, non-oil, N380bn Negative trade balance widens Obinna Chima, Emma Okonji in Lagos and Dele Ogbodo in Abuja The total value of Nigeria’s export trade increased to N1.873 trillion in the second quarter (Q2) of 2016, representing an increase of N725.6 billion or

63.3 per cent, over the value recorded in the preceding quarter.

The National Bureau of Statistics (NBS) disclosed this

in its foreign trade statistics for Q2 2016 that was released yesterday.

According to the NBS, the improvement in export

value was largely due to the depreciation in the value of the naira.

It, however, pointed out that the structure of the export trade

is still dominated by crude oil exports, which contributed N1.493 trillion or 79.7 per cent to the value of total domestic export trade in 2016.

Iran Seeks $50-$60 Oil Price as Barkindo Visits Tehran… Page 10

Exports by section revealed that Nigeria exported mainly mineral products, which accounted for N1.735 trillion or 92.7 per cent of the total export value. Other products Continued on page 8

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Michael, Patriarch of Ibru Dynasty, Passes On at 85 Okowa, Ibori, others mourn Chiemelie Ezeobi in Lagos and Sylvester Idowu in Warri The patriarch of the Ibru dynasty, Olorogun Michael Ibru, yesterday finally

succumbed to the cold hands of death after years of battle with an undisclosed ailment.

Continued on page 8

Buhari Relives 33-year-old Coup Statement, Tells Nigerians to Salvage the Country

Raises hope on economy, says recession over soon APC, PDP governors rally support for Obaseki, Ize-Iyamu Iyobosa Uwugiaren and Dele Ogbodo Dele Ogbodo in Abuja, Adibe Emenyonu in Benin City, Olakiitan Victor in Ado Ekiti President Muhammadu Buhari was nostalgic yesterday in Benin, reliving his 33-year-old coup statement in which he

asked Nigerians not to despair in the face of prevailing economic adversities, but urged them to rather remain resolute in the belief that only their collective will could salvage the country.

Continued on page 8

BBOG Defies Police, Marches on Aso Rock Villa… Page 9

Ibru (See tribute on page 10)

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PAGE EIGHT NIGERIA’S EXPORTS GROW BY 63% TO N1.873TRN IN Q2 exported by the country included “animal and vegetable fats and oils and other cleavage products” at N55.7 billion or three per cent.

“Base metals and articles of base metals” at N28.4 billion or 1.5 per cent, and “prepared foodstuffs; beverages, spirits and vinegar; and tobacco” was at N16.2 billion or 0.9 per cent.

The export by direction showed that the country exported goods mainly to India, United States, Spain, Netherlands and South Africa whose values stood at N402.7 billion or 21.5 per cent, N235 billion or 12.5 per cent, N215.2 billion or 11.5 per cent, N133.3 billion or 7.1 per cent, and N119.9 billion or 6.4 per cent respectively.

In addition, the natural liquefied gas recorded N198.0 billion of the total export value during the period under review.

Export by continent showed that Nigeria mainly exported goods to Europe and Asia, which accounted for N611.7 billion or 32.7 per cent and N606.4 billion or 32.4 per cent respectively of the total export value during the period under review.

Furthermore, Nigeria exported goods valued at N265.9 billion or 14.2 per cent to other countries in Africa, while export to the ECOWAS region totalled N86.9 billion.

Meanwhile, the total value of Nigeria’s merchandise trade in Q2, 2016 was N3.942 trillion. This was 49 per cent more than the N2.645 trillion recorded in the preceding quarter.

This development arose from a rise of N725.6 billion or 63.3

per cent in the value of exports (largely due to exchange rate gains) combined with a rise of N570.8 billion or 38.1 per cent in the value of imports against the levels recorded in the preceding quarter.

The current trade position brought the country’s negative trade balance to N196.5 billion during the period under review.

This showed a N154.8 billion reduction in the country’s trade deficit over the previous quarter.

Furthermore, it showed that Nigeria’s import trade stood at N2.069 trillion at the end of Q2, 2016, showing an increase of 38.1 per cent from the N1.498 trillion recorded in the preceding quarter. As with exports, the increase in import value was also traced to a decline in the value of the naira. The structure of Nigeria’s import trade by section was dominated by the imports of “Boilers, machinery and appliances; parts thereof” which accounted for 34.9 per cent of the total value of import trade in Q2, 2016.

Other commodities, which contributed noticeably to the value of import trade during the review period, were mineral products (15.8%), vehicles, aircraft and parts thereof; vessels etc.

(14.7%), products of the chemical and allied industries (7.6%) and base metals and articles of base metals (5.1%).

“The import trade classified by broad economic category revealed that capital goods and parts ranked first with N663.6billion or 32.1 per cent. This was followed by industrial supplies with the

value of N421.2billion or 20.4 per cent and transport equipment and parts standing at N356.1billion or 17.2 per cent.

“The value of motor spirit stood at N296.1 billion. Nigeria’s import trade by direction showed that the country imported goods mostly from China, Netherlands, United States, India and the United Kingdom, which respectively accounted for N493.5 billion or 23.9 per cent, N285.7 billion or 13.8 per cent, N199.0 billion or 9.6 per cent, N124.9 billion or six per cent, and N119.3 billion or 5.8 per cent of the total value of goods imported during the quarter,” it added.

Further analysis of Nigeria’s imports by continent revealed that the country consumed goods largely from Asia with import value of N886.1 billion or 42.8 per cent. The country also imported goods valued at N813.9 billion or 39.3 per cent from Europe and N255.3 billion or 12.3 per cent from America.

Import trade from Africa stood at N89.1 billion or 4.3 per cent, while imports from the region of ECOWAS amounted to N20.8 billion.

Telecoms Contribution Hits N1.58bn Telecommunications activities in the country have continued to create positive impact in the Nigerian economy, adding N1,580 billion to the Gross Domestic Product (GDP) in the second quarter of 2016, or 9.8 per cent growth, which represents an increase of 1.0 per cent points

relative to the previous quarter.

According to the statistics from NBS, this is the largest contribution to GDP made from this sector in the rebased period, which emphasises that growth in telecommunications has remained robust when compared to total GDP. The last time that telecoms contribution to GDP rose as high as 9 per cent was in the second quarter of 2015, when it recorded 9.46 per cent growth.

Although growth in the telecommunications sector remained positive in contrast with the economy as a whole, year-on-year growth nevertheless dropped in real terms from 5.0 per cent in the previous quarter to 1.5 per cent, the lowest rate since 2011 Q3.

According to the statistics from NBS, the share of telecommunications in total real GDP had declined throughout 2010 to 2014, but for the last five quarters, growth in telecommunications has been higher, meaning the trend has reversed.

The NBS also released telecoms subscribers' growth figure as at June 2016, which indicated that the total number of subscribers has increased rapidly over the past decade.

At the end of 2005, there were 19.5 million subscribers, but by the end of 2015, there were 151.02 million which is equivalent to an increase of 13.15 million every year.

However, growth has been declining more recently, possibly as a result of high market

MICHAEL, PATRIARCH OF IBRU DYNASTY, PASSES ON AT 85 The first child of a missionary who also worked at the Igbobi Orthopaedic Hospital, Yaba, Lagos, Chief Peter Epete Ibru and his wife, Janet Omotogor.

The deceased, who celebrated his 85th birthday in January, attended Igbobi College, obtaining his secondary school certificate in 1951.

The consummate businessman, frontline politician and entrepreneur died barely two months after his brother, Senator Felix Ovuodoroye Ibru, passed on and was buried in their hometown, Agbarha-Otor, Ughelli North Local Government Area of Delta State.

Indigenes of Agbarha–Otor mourned him yesterday, eulogising him as a kind-hearted man who touched many lives.

His children described him as a pillar of strength, a visionary guiding hand, character moulder and patriot without equal.

Born in December 25, 1930, the deceased was one of the most successful businessmen in Africa.

As co-founder of the Michael and Cecilia Ibru University based at Agbarha-Otor, he was highly respected both at home and abroad.

At Agbarha-Otor village and Ughelli metropolis, scores of sympathisers thronged the home of the Ibrus even as some of them were also at Oviri-Olomu his mother’s home state.

The family’s bosom friend, Chief Edwin Clark, could not be reached for comments on the demise of the late icon as he was said to be holding an urgent meeting in Abuja.

It was gathered that his wife, Cecilia, travelled to the United Kingdom where her husband might have given up the ghost.

The late business mogul

pioneered 29 organisations, which culminated into the Ibru business conglomerate in Nigeria, Africa and the rest of the world.

Some of the businesses under his supervision were the defunct Skol Larger Beer, Ibru Motors and Ibru Fisheries.

The President General of Urhobo Progress Union (UPU), Chief Joe Omene, yesterday described Michael as the greatest man in the entire Urhobo nation.

He said: “Michael Ibru is the foremost person that gave the Urhobo nation its identity both nationally and internationally. His presence is felt and noticed in every Urhobo kingdom you go to today making him Urhobo’s greatest man ever. The Urhobo nation would miss him dearly and the UPU would give him a befitting funeral.”

Although he is best known for his successes in business, the deceased had also tried his hands on politics, when in 1983, he was a gubernatorial candidate but lost to Brig-Gen Samuel Ogbemudia.

During his foray into politics, he was a member of the Liberal Convention and the New Movement, which metamorphosed into the National Republican Convention (NRC).

Michael had an interesting working life. After his secondary school, he joined the United African Company as a management trainee in 1952, dropping out of the company in 1956 to start a partnership with an expatriate, Jimmy Large.

He called his company Laibru.

By 1957, Michael branched out to the lucrative but difficult fish business, which at the time was dominated by many expatriate firms. Although not many Nigerian traders were into the business, the young Michael

ventured into it believing that it offered him better opportunities for higher returns on his investments.

According to Wikipedia, "He felt he could put extra effort communicating with general traders, who played key roles in products acceptance.

"To trade in seafood, he established an importing company, he also rented and built cold storage facilities across the country. By the mid-1960s trading in fish had become the traditional money maker for the Ibru Organisation.

"Though he had other profitable interests such as transportation and construction, fish trading helped him secure financing and other forms of capital to engage in large scale trading.

"He established a partnership with a Taiwanese company, Osadjere Fishing Company, which provided Trawlers and other accessories for trading. By the end of the 1960s he branched out fully into other areas of the economy.

"Like a lot of his contemporaries, he established a transportation company, called Rutam. He also invested in palm oil production. Over the years, the Ibru Organisation has expanded into other areas such as Tourism, Brewery, Timber and Poultry."

Okowa, Ibori, others mourn Tributes started pouring in yesterday as leading lights of Delta his home state mourned his demise.

The state Governor, Dr. Ifeanyi Okowa, said he received with sadness and an immense feeling of great national loss, news of

the death of Michael.

A statement in Asaba on Tuesday, by his Chief Press Secretary, Charles Ehiedu Aniagwu, said the governor expressed sadness over the news of the demise Michael whom he described as one of Nigeria's foremost industrialists.

Okowa said Michael was an epitome of integrity in business who founded the famous Ibru Organization in 1956. “On behalf of my family, the government and people of Delta State, I extend my sincere condolences to the entire Ibru dynasty of AgbarhaOtor, the Urhobo nation and Nigerians on the passage of the beloved, urbane, cerebral and quintessential businessman and industrialist whose contributions to the growth of commerce and industry in Nigeria remains indelible,” he said.

Former governor of Delta State, Chief James Ibori, in his tribute described the death of Michael as a great shook because he was one of the few that actually defined the veritable Nigerian entrepreneurial spirit. “Olorogun Michael Ibru was a trail-blazer, who streaked through Nigeria like a meteor, lighting up the way for others to follow,” he said in a statement by his media aide, Tony Eluemunor.

The Speaker, Delta State House of Assembly, Hon Monday Igbuya, described Michael as a modest and strong businessman.

According to a statement in Lagos by his Chief Press Secretary, Mr. Henry Ebireri, Igbuya consoled the deceased’s family and friends, saying they should be glad because he had lived a worthy and fulfilled life.

“Olorogun Michael Ibru was a shrewd businessman with a good heart” he said.

penetration leaving less room for large expansion.

In June 2016, the end of the second quarter, there were 149.8 million subscribers compared with 148.8 million in June 2015, which represents an increase of 0.69 per cent.

The yearly increase in total subscriber numbers has been decreasing steadily for the past year. In June 2015, the year-onyear increase was 12.05 per cent, however, after the decline in subscriber numbers between January and April 2016, the number of subscribers began to increase again, and in June 2016, the number was 0.71 per cent higher than at the end of the first quarter in March.

The increase is despite the sharp drop in Code Division Multiple Access (CDMA) subscribers. From June 2015 and June 2016, the number of CDMA subscribers fell from 2.1 million to 454,092, a decrease of 78.44 per cent.

Although CDMA remains the second most popular technology type, this decrease has meant that the GSM technology type has entrenched its position as the dominant provider of mobile subscribers.

The second quarter of 2016 saw a partial reversal of trends that had been recorded since August 2015. After declining between then and March 2016, the number of MTN and Etisalat subscribers began to increase again. The number of MTN subscribers

rose from 57,045,721 to 58,409,767 between March and June 2016, and Etisalat subscriber numbers rose from 21,877,542 to 22,469,896 over the same period. These changes represent quarter on quarter growth rates of 2.39 per cent and 2.71 per cent respectively, although year-on-year growth rates were still negative, at -7.01 per cent for MTN and -1.67 per cent for Etisalat.

Airtel also witnessed a reverse in trend. In the second quarter of 2016, the provider recorded growth of -5.57 per cent, following consistent positive growth since August 2014. Nevertheless, the year on year growth was positive at 8.17 per cent and there was a slight increase between May and June of 0.44 per cent. Airtel ended the quarter with 31,978,848 subscribers.

By contrast, Globacom continued its uninterrupted growth in subscriber numbers.

With the highest quarter on quarter growth and year-on-year growth rates of 4.95 per cent and 16.20 per cent respectively, At the end of the second quarter, Globacom had 36,320,572 subscribers.

In the area of internet subscriptions, the figure from NBS revealed that of all GSM users, a total of 92.2 million had an internet subscription with one of the four carriers of Airtel, Etisalat, Globacom and MTN in June 2016. This means that of all the active GSM lines, 61.79 per cent had internet subscription.

BUHARI RELIVES 33 YEAR-OLD COUP STATEMENT, TELLS NIGERIANS TO SALVAGE THE COUNTRY “We are a nation of great human and material resources especially the youth. Please sit down, reflect and remember what I said 30 years ago. We have no other nation like Nigeria, no matter where you go. We may as well remain here and salvage it together,” he told the mammoth crowd that gathered at the Samuel Ogbemudia Stadium, Benin City during the closing rally of the All Progressives Congress (APC) to canvass support for the APC candidate, Mr. Godwin Obaseki, ahead of the Edo State governorship election holding on Saturday.

The president, who also raised hopes that the current economic downturn in the country would not last for long, said Nigerians must be aware that they were the only ones who could salvage the country, warning them there was nothing for them elsewhere.

“No matter where you go, you may defy the Sahara Desert or the Mediterranean, if you are lucky and not killed by drought.

But what you get there, the mere colour of your skin will be a problem for you,” he said.

Buhari in his coup day speech on ascension of office as Head of State and Commander-inChief in December 1983, had said that in spite of the rot that the President Shehu Shagari democratic government had created, Nigerians had no option other than to stay in the country and rescue it.

“This generation and indeed future generations of Nigerians have no other country they can call their own. We must stay here and salvage it together,” he had said.

The president took the opportunity of the rally to reassure Nigerians on the

country’s failing economy, saying that the federal government under his watch was doing all it could to pull the nation out of the recession its economy had entered.

“I assure you we are going to get out of these our economic doldrums soonest,” he said, adding: “We are almost out of our insecurity problems and we are going to make Nigeria great again. We are going to be very proud of our country and our size and our resources will not be for nothing,” He congratulated his party’s candidate, Obaseki, on his nomination as the standard-bearer of the APC, telling the people of the state to elect him as their next helmsman.

The National Chairman of the APC, Chief John Oyegun, complemented Buhari’s hope raiser on the economy and said the country would definitely Continued on page 9

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PAGE NINE

BBOG Defies Police, Marches on Aso Rock Villa Dele Ogbdo, Kasim Sumaina, Nosa Enobhayisobo and Oluwatosin Komolafe in Abuja The Bring Back Our Girls (BBOG) group yesterday broke through a police cordon and marched on the Presidential Villa, Abuja to register its demand for more concrete efforts by the federal government to rescue the secondary school girls who were abducted by the terrorist group, Boko Haram, from Government Secondary School, Chibok, Borno State on April 14, 2014.

The Nigeria Police Force had on Monday issued an order restricting the BBOG’s daily protests to their Unity Fountain, Maitama base. The order came against the background of two protest marches on the Presidential Villa in the last one month that were aborted by the police.

The group led by their joint conveners, Mrs. Oby Ezekwesili and Aisha Yesufu, were however surprised to meet at the gate of the Presidential Villa, another group, “With Buhari I Stand,” that had gone to pay a solidarity visit to President Muhammadu Buhari.

“The demand for the rescue of the Chibok girls is not a privilege,” Yesufu told the police personnel that had attempted to prevent them from accessing

the seat of power.

The march yesterday was the first defiant one by the group that had had a running battle with the police and other security agencies over their insistence on conveying their demands for a quicker and more coordinated efforts at rescuing the girls to the president personally.

For two years, the BBOG had been on the Chibok girls’ case, charging the federal government to act more decisively to rescue 217 of them that are still in the custody of Boko Haram.

However, there was a twist yesterday as the new group, #With Buhari I Stand, emerged to oppose the activities of the BBOG and the situation would have degenerated into fisticuffs if not for the presence and intervention of security operatives.

As the BBOG set out from its Unity Fountain base, Assistant Commissioner of Police (ACP) Abiodun Alamutu had met with the leaders of the group to inform them of a directive restricting their activities to their base. He however refused to disclose the source of the directive.

Ezekwesili, who refused to be dissuaded, presented a letter signed by an assistant inspector general of police (AIG) that gave permission to the group to embark on the peaceful protest.

Following the presentation of

Ezekwesili the letter, the ACP allowed the group to proceed, but its march was however short lived as Deputy Commissioner of Police M. D. Garba stopped the group and directed the BBOG to return to its base.

Ezekwesili immediately addressed the press, explaining their frustration with the lackadaisical attitude of the federal government to the rescue of the girls.

She said: “When the ‘proof of life’ video showing Dorcas Yakubu was released by the Boko Haram sect which has been holding them captive for 876 days, the BBOG decided to give the federal government one week within which to show evidence of decisive action to rescue our Chibok girls.”

She explained that the group made that decision guided by the fact that on 14th April 2016, the

Boko Haram sect had released a video to CNN, suggesting that the girls were still alive, adding that weeks after, one of the persons abducted, Amina Ali, was found wandering in the Sambisa forest, where she was picked up by the civilian JTF and handed over to the Nigerian military authorities that brought her back home.

Ezekwesili said: “The president said the return of Amina Ali was an important turning point in the efforts to get our Chibok girls back to their families, stating that she was going to provide vital information that will make the government bring back her peers. But nothing was done to that effect. There was no action taken, and no communication made to us from the federal government.”

She said the group was more pained by the offhanded response to the second "proof of life" video released on 14 August, 2016 showing Dorcas Yakubu, who was identified by her mother, Esther Yakubu, making a plea for rescue. Dorcas was shown against the background of about 50 of her colleagues in captivity.

Ezekwesili, who said the group had marched unhindered to the Villa on three different occasions, wondered why the police suddenly chose to prevent this one, adding that it was unfortunate that this was

happening under a president who had pledged in his inaugural speech that he would not consider Nigeria to be free until the girls were brought back home and alive.

Meanwhile, the Commissioner of Police of the Federal Capital Territory (FCT) Command, Mr. Mustafa Mohammed, has said anyone or group intending to engage in public procession should obtain a permit from his command.

He spoke in a statement by the command’s Public Relations Officer, Anjuguri Manzah, and said he viewed with serious concern the flagrant disregard for the law by some individuals and group of persons who laid siege to the FCT in the form of protests and demonstrations.

Mohammed said: “These indiscriminate actions which are carried out in disorderly and sometimes riotous manner create unwarranted tension and apprehension among law abiding citizens and in the process obstruct legitimate business activities.

“It is on this note that the command is making it clear that it will continue to be professional in discharging its constitutionally assigned roles in accordance with international best practices especially as it relates to the fundamental rights of citizens.”

Ibrahim Idris, yesterday said he would meet Obaseki, IzeIyamu, Independent National Electoral Commission (INEC) officials, election observers and candidates of the other political parties in the election before Saturday to adopt strategic measures aimed at ensuring free and fair polls.

A statement by the Force Public Relations Officer (FPRO), DCP Donald Awunah, said Idris was committed to ensuring that the election was conducted in accordance with the electoral law in the atmosphere of peace and security.

He said the IG had deployed a Deputy Inspector General (DIG) of Police, an Assistant Inspector General of Police (AIG) and three Commissioners of Police (CPs) to coordinate the security operations, supervise the deployment of security personnel and facilitate the electoral process throughout the state.

He said: "In order to ensure safety of life and property before, during and after the election, we are deploying additional 25,000 police personnel, comprising the Police Mobile Force (PMF) the Counter Terrorism Units (CTU), the Anti-bomb Squad, the Marine Police, conventional policemen, the Armament Units, personnel from Force Criminal Intelligence and Investigation Department (FCIID), Force Intelligence Bureau (FIB) and the Sniffer Dog Section.

"In addition, the Police Aerial Surveillance Helicopters and Gun Boats, 10 additional

armoured personnel carriers and 5,000 patrol vehicles will be deployed to cover all the polling units across the state."

He assured Nigerians that in order to ensure a credible election in the state, he would meet with actors and stakeholders of the political parties, INEC officials, election observers and other stakeholders before Saturday in Benin City.

According to him, the meeting will focus on the overall desirability of peace during the election and adherence to the rules of the game.

He said: "All police personnel and other complementing sister security agencies are under strict instructions to be professionally polite and civil but firm in the discharge of their statutory duties.

"They are to provide adequate security for the electorate, INEC officials, electoral materials, election observers and all stakeholders throughout the period of the election.

"For the avoidance of doubt, political parties and their leaders, traditional rulers and parents are advised to warn and prevail on their members, supporters, subjects, wards to be law abiding and not allow themselves to be used as canon fodders to cause disturbance of the peace or the electoral process."

He warned that the spirit and letters of the law would be fully applied on any person or group of persons found violating the Electoral Act.

BUHARI RELIVES 33 YEAR-OLD COUP STATEMENT, TELLS NIGERIANS TO SALVAGE THE COUNTRY recover more quickly than the people expected.

He blamed the opposition Peoples Democratic Party (PDP) for the economic crisis, saying its 16-year-rule at the national level, and 10 years in Edo State were remote causes of the recession.

“The PDP squandered trillions of naira when the party held sway for 10 years in the state,” Oyegun said, calling on people not to make the mistake of voting the PDP in the Saturday election.

Present at the rally were governors of Sokoto, Kogi, Kebbi, Niger, Kaduna, Plateau, Benue, Ogun, Kano and Katsina States; Minister of State Petroleum, Dr. Ibe Kachikwu; Minister of State Health, Dr. Osagie Ehanire; Minister of Power, Works and Housing, Mr Babatunde Fashola (SAN); and Minister of Science and Technology, Dr. Ogbonnaya Onu. Past and serving senators, House of Representatives members, party leaders and members of the National Working Committee (NWC) also graced the rally.

The Chairman of the National Campaign Council for Obaseki and Governor of Lagos State, Mr. Akinwumi Ambode, who joined other supporters to welcome Buhari to Edo State, urged the people to vote for Obaseki because he has been tested and could be trusted.

He said: "The presence of the president is a pointer to the level of importance we attach to the political economy of the people of Edo State. The state is the heartbeat of the South-south region of Nigeria. Currently, Edo State without any controversy has

witnessed the best developmental projects in the last seven and a half years more than any other period in the last 17 years.”

He praised the state Governor Adams Oshiomhole for laying the right foundation for governance, saying he had been responsive, progressive and totally committed to the needs of the people.

He therefore asked the people to return the APC for continuity by voting Obaseki.

While welcoming dignitaries at the rally, Oshiomhole lashed out at the PDP candidate, Pastor Osagie Ize-Iyamu, for talking about projects that were rendered koboless by the government he served as secretary, saying that “between 1999 and 2008 a period of 10 years, these people together with their godfathers, cannot point at any project they have done for the people".

According to him, “Under PDP, they introduced discriminative school fees, but we abolished it because our party is a progressive party that believes in one Nigeria. There was never investment on roads, water, and education."

He therefore urged the people to come out in large numbers to vote for the APC as a way of punishing the PDP for their sins against the people and the state.

Elsewhere in the city, the PDP held a town hall meeting attended by some of its governors who came to canvass for votes for the party’s candidate, Ize-Iyamu.

The Ekiti State Governor, Mr Ayodele Fayose, urged the people to vote massively for Ize-Iyamu on Saturday, urging them to also defend their votes.

He said: “Edo people should not make the same mistake Nigerians made last year by enthroning the APC government of President Muhammadu Buhari.”

He advised them to be extra vigilant before, during and after the election. “The people should not just vote and go to sleep, they must make sure that their votes count and victory is ensured for Pastor Ize-Iyamu who is unarguably the best among the contenders,” he said.

He said the PDP candidate deserved victory because he had worked hard, campaigning through the nooks and crannies of the state to sell his vision to the people.

Referring to the governorship candidates’ debate aired on Channels TV, Fayose said the performance of Ize-Iyamu left no one in doubt about his sterling qualities, which towered above all other candidates.

On its part, the Pastor Osagie Ize-Iyamu Campaign Organisation said the rally attended by Buhari and other APC leaders in Benin City was a send forth party for the APC in the state.

The campaign organisation in a statement issued by its Media Unit said that there is no way Edo people would reward a party that had decimated every institutions in the state in almost eight years of its administration and subjected the people to untold hardship.

"We are not bothered about the obliviousness which some pseudo political analysts have consistently exhibited in the last few days and a rally organised

by All Promises Cancelled (APC) on Tuesday. Perhaps they are not aware about the untelevised political revolution that is about to take place in Edo State.

"The September 10 election is about failed promises and bleeding of our state’s resources

by APC-led government; it is about decimation of the state civil service by the present government in the past seven and a half years.

"It is about the total collapse of socio-economic institutions in Edo State; it is about the abject poverty in the state, caused by the unjust Oshiomhole-led government. Indeed, it is about the collapse of our educational institutions,’’ it enumerated.

While advising the electorate not to waste their votes on Godwin Obaseki, the PDP said he is not qualified to contest the election over his alleged forging of his certificates, adding that the election would be decided by Edo people who have registered to vote, including 500,000 students, who have been denied the enabling environment to advance their educational career in the past seven and a half years by the APC-led government.

"The people are not fools — not to remember the failed promises by APC government — nearly eight years ago, to provide jobs for them. And never again will they be persuaded by the deceitfulness and fraudulent promises,’’ the PDP added.

IG to Meet Obaseki, Ize-Iyamu, INEC, Others The acting Inspector General of Police (IG), Mr.

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WEDNESDAY SEptEmbEr 7, 2016 • T H I S D AY

TRIBUTE TO MICHAEL IBRU…

TRIBUTE TO MICHAEL IBRU…

Michael Ibru, Business Colossus, Takes Final Bow Joseph Ushigiale Barely few months after the cold hands of death snatched away Felix Ibru, another prominent member of the Ibru dynasty has taken the final bow. The man in the long black coat, the late Reggae act, Lucky Dube, talked about in his evergreen Crazy World song, has again knocked on the doors of the Ibru family, recalling Olorogun Michael Christopher Ibru home as his next victim. He was 85 years old.

In death, Michael would be remembered for his trailblazing footprints mainly in business, where he was a colossus bestriding America’s equivalence of Fortune 500 blue chip companies.

His business empire had tentacles spreading from general merchandising, construction, transportation, fisheries, publishing, brewery etc.

He was a man of many firsts, an outstanding entrepreneur and philanthropist with the propensity to give without hesitation.

Michael was to the Ibru family what Alhaji Aliko is to the Dangote dynasty. Extracts from family records narrate a peculiar childhood experience as captured by his late brother, Felix.

Michael’s wealthy maternal uncle, Ovedje Osadjere, had in the presence of his mother asked what his young nephew wanted him to do for them. Michael, disclosed Felix, rushed forward, and rather than ask for material gifts that would be of immediate help to the struggling family then, he simply took permission from his uncle to pluck some cocoa pods from his farm. The purpose of the request, according to Felix, was for Michael to carry out an experiment with the liquid from the pods to see if he could brew some drink from them.

Ovedje was stunned by the request and granted his nephew’s request but Michael’s mother who stood transfixed was not amused at all by her first child’s request.

He attended the famous Igbobi College, Lagos between 1948 and 1951. His brilliance manifested itself for the first time at the college in 1948 when he moved up meteorically to secondary class II straight from the Elementary School without the usual preamble. In 1951, his fourth year, on a study that normally lasted six years, he passed the Cambridge School Certificate Examination with resounding distinction in Division One. On graduation from Igbobi College, he secured a job with the United African Company (now UACN), as a manager- in training. Between 1951 and 1956 when he worked with the United Africa Company, formerly the Royal Niger Company, Ibru had an intense internship that effectively prepared him for the bigger world of entrepreneurship.

In 1956, already armed with the necessary business acumen from the UAC, he resigned from the company and at 24, formed Laibru, in partnership with an expatriate, Jimmy Large, a former colleague at UAC. Just a year later, he discovered that frozen fish market was a fertile market with the potential to deliver returns above the market rate. Notwithstanding the toughness of that market that very few Nigerians in the business, he ventured into it.

His knack for sniffing business opportunities from a million miles away once again led him to discover a niche in frozen fish (once unsuccessfully pushed by the foreign-owned West African Fisheries and Cold Stores) which at that time had a poor reputation in Nigeria.

When Michael first introduced frozen fish in 1957, its detractors, including meat sellers, labelled it “mortuary” fish. He waged a vigorous campaign that successfully persuaded the whole nation that frozen fish was good, establishing over 350 distribution depots throughout Nigeria and turned around the business as a huge money spinner in the Ibru business chain.

He formed the IBRU Sea Foods, an importing company solely owned by himself. He rented cold-storage facilities at the Ijora Wharf in Lagos from the UAC, using the facility at night and traded from the back of a Land Rover. Later, he built his cold storage facilities first at 33 Creek Road, Apapa.

By the mid-1960s, fish trading had become the traditional money maker for the IBRU Organization. Though he had other profitable

Ibru interests such as transportation and construction, fish trading helped him secure financing and other forms of capital to engage in large scale trading.

In an interview detailing his success story published in Vanguard Newspaper some years ago, Michael who admitted that the journey was tough and the obstacles were almost insurmountable, narrated how he overcame these challenges by turning them to opportunities.

According to him, “We countered the ugly comments. We demonstrated. We held processions. We advertised with such catchy slogans as “Soko yo koto, Eja Ibru.” We taught people how to smoke fish. We went up at four O'clock in the morning distributing fish among market women who smoked them and we put on a bit of salt and oil. There was beginning to be a slight positive reaction.

“Meanwhile, we had to review carefully all the forces available to us for mounting a successful crusade; for a crusade it had to become. We found a vital and formidable rallying force in Nigerian market women.

We mobilized that group.

“Gradually we succeeded not only in dismantling the ugly and detrimental propaganda, but in popularizing frozen fish which has helped in no small measure in reducing animal protein deficiency which the vast majority of Nigerians were suffering from,” he concluded.

He was also an apostle of diversification, in 1969, a transportation company, called Rutam was acquired as another major arm of his business as it engaged in marketing and distribution of Mazda, Saviem, Tata and Jeep brands of automobiles.

At some point, Rutam was appointed by the Federal Government, as the major distributor of Peugeot brand of vehicles in the country. In 1965, Michael started a large palm-oil plantation, Aden Farm, in the old Bendel State as well as a citrus and pineapple farm on 800-hectares site, which for some time, supplied the Lafia Cannery in Ibadan, Oyo State.

He acquired the Mitchell Farm in 1973 and at the time, the farm was the largest producer of day 1-1 old chicks and processed poultry in West Africa. The company was acquired from the American owners, Alizar, who had established the farm in 1963.

By 1974, he extended his business footprints

with the acquisition of Nigerian Hardwoods, a logging and sawmilling and wood processing company at Ubiaroku, at a low price from the Lathem Group, UK. The firm was originally established in 1919 and exported hard wood logs.

Having recognized the benefits of education, Michael donated a college – Abraham College which was later re-named IBRU College, to his people. Additionally, he donated classroom blocks, vehicles and money to various educational institutions and charity organisations; awarded several scholarships to deserving Nigerian students in seccondary schools; distinguished entrepreneurial schools and institutions of higher learning both in Nigeria and abroad; and sponsored various sporting activities in order to ensure an even development of the mind, soul and body.

Besides education, Michael is touted among his people to be a major pillar in the economic empowerment of the Urhobo nation especially in the area of human capital development.

He would sure be missed by many whose lives he had touched while he traversed the world. For many, including Governor Ifeanyi Okowa of Delta State, Michael’s death would be a personal loss that would be difficult to bear.

Governor Ifeanyi Okowa of Delta State has said he received with sadness and an immense feeling of great national loss, news of the death of the patriarch of Ibru dynasty, and Nigeria's foremost entrepreneur, Olorogun Michael Christopher Onajirhevbe Ibru, (OFR) who died at 86 years.

A statement issued in Asaba on Tuesday, by his Chief Press Secretary, Charles Ehiedu Aniagwu, said the Governor expressed sadness over the news of the demise of Olorogun Michael Ibru whom he described as one of Nigeria's foremost industrialists.

According to Aniagwu, Governor Okowa said the late Ibru was an epitome of integrity in business who founded the famous Ibru Organization in 1956. The Governor recalled how the Ibru Organization has grown into a multi billion-dollar conglomerate with interests in shipping, agriculture, aviation, banking, brewery as well as oil and gas.

“On behalf of my family, the Government and people of Delta State, I extend my sincere condolences to the entire Ibru dynasty of Agbarha-

Otor, the Urhobo nation and Nigerians on the passage of the beloved, urbane, cerebral and quintessential businessman and industrialist whose contributions to the growth of commerce and industry in Nigeria remains indelible.

“Olorogun Michael Ibru was an accomplished businessman, entrepreneur, philanthropist and community leader who built the Ibru dynasty to command the respect, trust and love of the entire country.

"Because of the successes recorded by the Ibru Organisation in many areas, many Nigerians were encouraged to delve into several business interests which no doubt has contributed immensely to the growth of commerce in industry in Nigeria.

In yet another condolence message, Chief James Onanefe Ibori has described the death of Olorogun Michael Ibru as a great shock, not because the man who was born in 1930 and so was 86 died young, but because he was one of the few that actually defined the veritable Nigerian entrepreneurial spirit.

In a press statement signed by Tony Eluemunor, Ibori said “Olorogun Michael Ibru was a trailblazer, who streaked through Nigeria like a meteor, lighting up the way for others to follow.

In 1956, Ibru was just a 26-year-old young man, yet he had the vision and the boldness to leave the UAC, and started a partnership with an expatriate, Jimmy Large, which he called Laibru. Laibru successfully engaged in general trading, yet, a year later, Michael Ibru discovered some loopholes he could plug in the frozen fish market.

Although this business was cornered by expatriate firms, Ibru plunged into it, establishing an importing company, rented and built cold storage facilities across the country, and by the mid-1960s fish business had become the traditional money maker for the Ibru organization.

From there, Ibru ventured into other profitable interests. He had such a Midas touch that he founded booming businesses in the fields of transportation, construction, etc”.

To Ibori, the greatest lesson that Michael Ibru has left for Nigerians is that fact that he saw it as a point of duty to help his siblings develop their business empires, yet, they remained as one close knit family.

The second lesson is that a business should not necessarily be a one-man concern. Thus, Ibru went into several partnerships with different people. The result is that today, the Ibru Organisation is an important segment of the Nigerian economy. In fact, it is an empire.

That runs from fishing to air transportation, Guardian newspapers, the hospitality business.

In fact, the Ibru family-owned houses must have been one of the first private Real Estate firms in Nigeria.

The Speaker, Delta State House of Assembly, Rt. Hon Monday Igbuya Tuesday paid tribute to late Olorogun Michael Onajirevbe Ibru, describing him as a modest and strong businessman.

In a statement issued in Lagos by his chief press secretary, Mr. Henry Ebireri, Igbuya consoled family and friends of the late Ibru, saying they should be glad because he had lived a worthy and fulfilled life.

He also urged members of his family to stand strong and united as they mourn Olorogun Ibru.

“Olorogun Micheal Ibru was a shrewd businessman with a good heart” he said.

Igbuya lauded Ibru’s great concern for the unity of Urhobo.

“Olorogun Michael Ibru as an international businessman, philanthropist, educator, a lover of children, grassroots organizer and community leader gained the respect, trust and love of the entire country and he will be greatly missed”, the statement said.

Michael held the traditional Urhobo title of the Otota of Agbarha-Otor Kingdom and received the national honour of an Officer of the Federal Republic (OFR).

His outstanding business exploits saw him being a member of the Business Advisory Council of the International Finance Corporation (IFC) and served as Council Member of the several business bodies including the Lagos Chamber of Commerce and Industry and the Nigeria-United States Business Council.

T H I S D AY WEDNESDAY SEPTEMBER 7, 2016

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WEDNESDAY, SEPTEMBER 7, 2016 • T H I S D AY

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NEWS

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

Eid-el-Kabir: 22 Christian Groups Confront FG, Say Sultan Can’t Declare Public Holiday Northern bishops ask govt to seek experts’ advice to lift economy out of recession

Tobi Soniyi and Paul Obi in Abuja A coalition of 22 Christian groups in Nigeria led by National Christian Elders Forum (NCEF) yesterday condemned the federal government over the declaration of September 12 as public holiday in commemoration of Eid-el-Kabir celebration by the Sultan of Sokoto and President-General of Supreme Council for Islamic Affairs, Alhaji Sa’ad Abubakar III, stating that it smacks of usurpation of government functions.

The condemnation came barely two months after a similar incident in which they criticised the action of the Sultan, accusing President Muhammadu Buhari of taking instructions from the him.

THISDAY had reported that in July 2016, Christian organisations lampooned government over the extension of public holiday by the presidency over the non-sighting of the moon by the Sultan.

In a statement issued by the chairman of NCEF Mr. Solomon Asemota (SAN), on behalf of the coalition, he stated that it was “very improper for the head of the Islamic faith in Nigeria to announce, declare or extend public holidays.

“We call on the federal government to rise to its task and cease abdicating its responsibilities to the head of a religion. We do not want what happened during the time of Abacha, when Sultan Dasuki was dethroned by Abacha to repeat itself. It should not be forgotten that apart from Christianity and Islam, there exist in Nigeria various traditional religions that are the foundation of our culture as Africans.

“The federal government

should continue to play its anomalous development has society to an Islamic theocratic the brink of the precipice,” Muslim assailants, like the Fulani herdsmen, derive from neutral, non-aligned role in not been taken place in Nigeria state.”

Asemota stated. the best interest of the nation. until the advent of the Buhari’s The organisation “reminded He added that the full this unilateral and improper Meanwhile, we await the administration which has gone to the government that religion is membership of Nigeria decision of the Babangida declaration of the Eid el-Kabir great length to deepen religious a very sensitive and emotional in Organisation of Islamic administration.

“Even the sponsors and public holiday by the Federal divide and tension in Nigeria. aspect of Nigerians, sayingthe Countries (IOC). in 1986, by Republic of Nigeria,” the “Again, we have no objection wisdom of the founding fathers the Ibrahim Babangida military actors of the membership of coalition stated. whatsoever to the Muslim public of Nigeria to adopt liberal administration was tantamount Nigeria in OIC in 1986 were Other members of the coalition holiday but our concern is that democracy as national ideology to making Nigeria an Islamic aware of the illegality of their action and as such, kept it out include Nigerian Christian in a secular society as enshrined to accommodate all the divergent state.

Graduate Fellowship; Think in Section 10 of the constitution, groups in the nation cannot be He held that “the nation is of public knowledge for 10 Tank For The Body Of Christ; the responsibility of declaring faulted. yet to resolve this unilateral years until 1996 when Sultan Christian Lawyers Fellowship of or announcing a religious “Any attempt to distort that imposition of one religion over Dasuki confirmed to the Pope Nigeria; Association of Christian public holiday is vested in the delicate balance in the Nigerian the nation by an individual. We that Nigeria was a full member Schools in Nigeria; Students federal government and such society shall produce nothing also conclude that the present of the OIC. “We also wish to appeal to Christian Movement; Christian responsibility is sacrosanct.” but destruction and devastation distress in the nation, occasioned Professionals Forum; Ministers The coalition said it was not as the nation is currently by religious intolerance the international community Prayer Network; International unaware of various intrigues and witnessing. There is still time and insurgency, from the to remain circumspect before Christian Embassy Jerusalem; acts of impunity to “transform for religious extremists to desist development of Boko Haram Cont’d on Pg 50 Nigeria Evangelical Missions Nigeria from a liberal democratic before they push Nigeria off to the evolving of fanatical Association and International Prophetic Ministerial Association (Inc. Worldwide College of Bishops and Ministers, Africa, UK and USA).

Others are Intercessors Without Walls; Wailing Women International; Full Gospel Businessmen Fellowship; Nigerian Fellowship of Christian Students; University Joint Campus Christian Fellowship; Nigerian Christian Corpers Fellowship (NCCF); Nigerian Supreme Council For Ecclesiastical Affairs; African Association for Ecclesiastical Affairs; The Preacher; The Messenger and Womb of Intercession International Fellowship.

The coalition said notwithstanding its earlier warning in July, “there has been an escalation of the impropriety.”

Asemota said: “We unequivocally wish to state that it is very improper for the head of the Islamic faith in Nigeria to announce, declare, L-R: Edo State All Progressives Congress (APC) governorship candidate, Mr. Godwin Obaseki; President Muhammadu Buhari; Lagos or extend public holidays. This State Governor, Mr. Akinwunmi Ambode; APC deputy governorship candidate,, Mr. Phillip Shuaibu; Governor Adams Oshiomhole; and is the function of the federal his wife, Iara, during the state APC grand finale campaign at the Samuel Ogbemudia Stadium in Benin-City...yesterday government and need not be abdicated. This kind of

LAST DAY OF CAMPAIGN

Assembly Approves N500bn Bond for Infrastructure in Lagos Oladipupo Awojobi The Lagos State House of Assembly has approved the sum of N500 billion worth of bond for the state government spanning between 2016 and 2019.

Presenting a report during plenary yesterday, the Chairman of the ad hoc committee set-up by the assembly on the matter, Hon. Oluyinka Ogundimu, informed the assembly that the bond was necessary for the development of the state and would be repaid through a 23 per cent of the state Internally Generated Revenue (IGR).

He added that all necessary plans are being made to ensure that the money is judiciously spent for the purpose meant for.

In his contribution, the Chairman of the House Committee on Budget and Economic Planning, Hon. Rotimi Olowo, stated that Lagos is the future of Nigeria and that the bond would assist in the infrastructural development of the state.

According to him, “If the bond is geared towards development, it will open the state to other parts of the world and generate more employments for the people.

“We have enough to take care of the bond. By 2019, Nigeria would be out of recession and Lagos would be better for it.”

Also speaking, Hon. Gbolahan Yishawu said Lagos had always been at the forefront of development and that the bond is meant to increase spending and develop the state.

The request was also supported by other lawmakers including Hon. Jude Idimogu, Hon. Olanrewaju Ogunyemi, the Deputy Speaker of the House, Hon. Wasiu Sanni Eshinlokun amongst others.

The Speaker of the assembly, Hon. Mudashiru Obasa, in coordinating a voice vote for the request, reiterated the fact that the bond would help develop the state and ensure adequate infrastructural development of the state.

Iran Seeks $50-$60 Oil Price as Barkindo Visits Tehran PIB on hold over Niger Delta crisis

Ejiofor Alike with agency reports Iranian Oil Minister, Bijan Zanganeh, has stated that his country supports an oil price of $50-60 per barrel and any measure that would help stabilise the market, following a meeting held yesterday with the Secretary General of the Organisation of Petroleum Exporting Countries (OPCE), Mr. Mohammed Barkindo in Tehran.

This is coming as the Chairman of the Senate Committee on Petroleum (Upstream) Resources, Senator Omotayo Alasoadura, said the Petroleum Industry Bill (PIB) was put on hold due to the Niger Delta crisis.

Barkindo visited the country as part of the efforts to mobilise OPEC members to support common measures to stabilise the oil market.

“Iran wants a stable market and therefore any measure that helps the stabilisation of the oil

market is supported by Iran,” Reuters quoted Zanganeh as saying after meeting with Barkindo.

OPEC’s third-largest producer, Iran has signalled willingness to support the possible revival of a global deal on freezing production levels only if fellow exporters recognise its right to regain market share lost as a result of sanctions.

Under a deal reached with six major powers in 2015, international sanctions imposed on Iran ended in January in exchange for Tehran curbing its nuclear programme.

Efforts by OPEC and nonOPEC oil exporters to reach an agreement on freezing output earlier this year foundered because Iran declined to participate.

Members of OPEC will meet on the sidelines of the International Energy Forum (IEF), with groups producers and consumers, in Algeria on September 26 to 28, during which they are expected to

discuss a possible output freeze.

Non-OPEC member Russia is also expected to attend the IEF. OPEC kingpin Saudi Arabia and Russia agreed on Monday to set up a task force to review oil market fundamentals and recommend measures and actions that would secure market stability.

In a related development, the long-awaited bill reforming Nigeria’s petroleum industry has been effectively put on hold until tensions ease in the Niger Delta region.

While the Senate had commenced debate on its own version of the bill, the Ministry of Petroleum is yet to finish the preparation of the executive version of the bill.

It is expected that the National Assembly will harmonise the executive version and the bills sponsored by members of the legislature.

The previous version of the bill was stuck in the National Assembly for a decade, but the President Muhammadu Buhari

administration has unveiled plans to split the bill into three to separate and isolate controversial areas to ease the passage into different laws.

Reuters quoted Alasodura as saying that as soon as normalcy returns in the Niger Delta, the National Assembly will resume debate on the bill.

“We have to hold it because of all the problems in the Niger Delta. As soon as things improve, then it will come to the front of the line again,” he added.

Alasoadura said there were no plans to change the bill, which had a first reading in the senate, but the unrest in the region forced the lawmakers to suspend the debate.

“There is a deliberate effort to keep things waiting so we don’t accentuate what is happening there,” he said.

Alasoadura however said the debate could resume within three to five months.

T H I S D AY WEDNESDAY SEPTEMBER 7, 2016

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T H I S D AY • WEDNESDAY, SEPTEMBER 7, 2016

COMMENT

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

SAINT MOTHER TERESA OF CALCUTTA

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The canonisation of Agnes Gonxha Bojaxhiu holds lessons for Nigeria, writes Sonnie Ekwowusi

lthough Rome has witnessed many significant events but the enthralling event of last Sunday shook it to foundations. In fact, last Sunday was a day to remember. It was the day Pope Francis declared Agnes Gonxha Bojaxhiu, (popularly known and called by the name Mother Teresa of Calcutta), the strong-willed Albanian-Indian Catholic nun, lover of the poorest of the poor and 1979 Nobel Peace Prize Winner, a saint at St. Peter’s Basilica, Rome.

The ceremony was witnessed by a mammoth crowd of pilgrims, about a dozen and half heads of state, the poorest of the poor, Hinduists, Buddhists, non-believers, atheists, agonistics and so forth who defied all odds and thronged St. Peter Square to witness the canonisation of the nun who is also known as “saint of the gutters.”

Following her death at the age of 87 on September 5, 1997, Agnes was beatified on October 19, 2003. St. Pope John Paul 11 had waved the normal five-year waiting period before a cause of canonisation thus paving the way for Agnes’ canonisation process to commence in 1999 and eventually ended last Sunday after she Teresa was declared a saint.

Mother Teresa was the voice of the poor. She was the Mother of mercy. She was merciful to the poor.

Last Sunday Agnes was canonised by Pope Francis, the Pope of mercy in the year of mercy. The canonisation of Mother Teresa, for short of better words, is a salute to altruism, selfless service, solidarity and large-heatedness.

In an age of unbridled individualism, egocentrism and man’s inhumanity to man, it is remarkable that a little Albanian girl should forgo her Albanian root to forge a new humanitarianism that has today become a barometer for measuring the quality of assistance rendered to the sick, the abandoned and the socially-displaced.

Mother Teresa challenges the world to get up from its stupor and attend to the needs of the poor. Diminutive (in fact, not more than four feet tall) and with an unmistakable wrinkled face, Mother Teresa stormed a world that was reluctant to provide for the poor and the needy and forced it to recognise that a world unfit for the poor is a disfigured world. This was not an easy task for Agnes who was so moved by the sprawling poverty around her that she left the Sisters of Loreto to found the Order of Missionaries of Charity that would specifically attend to the socially-displaced and poorest of the poor, the blind, aged, and disabled and the lepers.

In the face calumnies, insults, misunderstandings and severe criticisms, Mother Teresa was undeterred in carrying out the mission she believed God had entrusted to her. By entering the gutters of Calcutta and consoling the poorest of the poor, Agnes taught us that we cannot live in our little cocoons unmindful of the plight of our neigbours. If man is said to be a social animal he should

BY ENTERING THE GUTTERS OF CALCUTTA AND CONSOLING THE POOREST OF THE POOR, AGNES TAUGHT US THAT WE CANNOT LIVE IN OUR LITTLE COCOONS UNMINDFUL OF THE PLIGHT OF OUR NEIGBOURS

always socialise with his neigbours to hearken to their assistance in times of need. The poor and the suffering around us should move us to pity to team up with others to alleviate their suffering.

Mother Teresa was fearless. She spoke truth to power no matter whose ox was gored. She built bridges across troubled waters. She is called the mother of civilisation.

Why? Because neither caste, race, gender, ethnic, religious nor cultural differences constituted an obstacle to her great social concern. With her smiling face, Mother Teresa won the hearts of Hinduists, Buddhists, Muslims, non-religious and of course Christians. Implicit in Mother Teresa’s love for the poor was her love for life. Agnes cherished human life as a precious gift from God. She defended human life and human dignity especially defenceless babies. For example, during her acceptance speech after she was declared the 1979 Nobel Peace Prize Winner, an elated Mother Teresa told the eminent personalities who had gathered to listen to her: “The greatest destroyer of peace today is the cry of the innocent unborn child.” Her listeners were speechless. After the silence, Mother Teresa continued: “For if a mother can murder her own child, in her own womb, what is left for you and for me? To kill each other. Today millions of unborn children are being killed, but we say nothing. To me the nations that have legalised abortion, they are the poorest nations. They are afraid of the little one! They are afraid of the unborn child! And the child must die. Because they don’t want to feed one more child! Because they don’t want to educate one more child! The child must die.”

For us in Nigeria, the canonisation of Mother Teresa is particularly significant, significant because Nigeria, as you are well aware, now tops the countries with internally displaced persons (IDPs) wallowing in abject misery in so many displacement camps. But why the Nigerian IDPs tragedy really elicits sympathy is that food and material reliefs meant for them are routinely diverted or stolen by agents of the state. Just two weeks ago, some IDPs in Maiduguri trooped out to protest against this wickedness. Therefore the canonisation of Mother Teresa, first of all, reminds us in Nigeria that the food meant for the poor must not, for any reason, be stolen. More importantly, Mother Teresa’s canonisation demonstrates that every human being, whether he/ she is in the IDPs Camp or not, a cripple, an unborn child, physically challenged child, rich or poor, tall or short has a right to live. This is the statement the Buhari government and all Nigerians should reflect on.

Therefore, in the critical months ahead, we look forward to seeing an array of improved social work being carried out in the IDPs camps and other places housing the poor. Any development unaccompanied by adequate social concerns for the weak, poor, helpless, sick and socially-uprooted is not a true development.

SEIZING THE MOMENT TO END GLOBAL HUNGER

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Kofi Annan challenges leaders of developing countries, private sector companies and donors to sentence hunger to history

or the first time in human history, the end of hunger is well within our reach. While courageous and passionate individuals have been working to end this scourge for decades, a recent confluence of political will, public-private partnerships and funding has made this ambition possible.

We have, of course, a long way to go.

Almost 800 million men, women and children will not have enough food to eat today. But the achievement of halving the proportion of malnourished people since 1990 has shown us just what can be achieved.

Look, for example, at Africa. Already 12 years ago, when I was UN Secretary-General, I called for a “uniquely African Green Revolution” to transform agriculture and the life chances of hundreds of millions of people on the continent. Progress has been remarkable.

For over a decade, African countries have put a much greater emphasis on investment in agriculture and supporting the continent’s farmers. The Comprehensive Africa Agriculture Development Programme (CAADP), launched by African leaders in 2003 and reiterated in the Malabo Declaration of June 2014, provides a clear framework to accelerate investment

and coordinate countries’ efforts.

International donors have thrown their weight behind these national efforts.

From a surge in donor investment stemming from the 2009 G-8 Summit in L’Aquila, Italy, to the agreement by the global community to prioritise hunger and malnutrition in last year’s Sustainable Development Goals, the tide is turning.

With the help of the Bill & Melinda Gates Foundation and Rockefeller Foundation, the Alliance for a Green Revolution in Africa (AGRA) was created in 2006. In just a short period of time, it has become a preeminent leader in transforming Africa’s agriculture and food systems. Thanks to the partnerships it has formed, the research and development it has supported and the initiatives on the ground it has launched, smallholder farmers have obtained access to better seeds, sustainable agricultural techniques and financing, while thousands of agri-businesses have been created and expanded.

The last few weeks have given more reason to celebrate. In a rare show of bipartisan cooperation, the United States Congress in July passed the Global Food Security Act. This significant legislation reaffirms the United States’ commitment to ending global hunger, poverty and child malnutrition through President Obama’s

Feed the Future Initiative by supporting developing countries to improve their agriculture and broader food systems. It is hoped that the passing of the act encourages other traditional donor countries to take similar actions.

This latest good news comes as African heads of state, international donors and hunger fighters from around the world gather in Nairobi, Kenya, for the African Green Revolution Forum. It is an opportunity not only to celebrate collective progress but also to commit ourselves to step up the battle against hunger and malnutrition.

We must seize on this critical moment and build on the incredible progress that’s been made in recent years. We all gain if we get this right. Increasing food security not only lifts the shadow of hunger from hundreds of millions of our fellow human beings. It also builds up economies and trade and minimises the risk of political instability.

I believe there are four main keys to tipping the scales and sentencing global hunger to history. The first is the continued political will to place and keep this issue high on domestic and international agendas, for no country can be strong when its people are weakened by hunger.

The role of civil society in constantly

encouraging governments to make agriculture a priority is vital here as well.

Second is partnerships, for no one individual, group or government can take on this monumental challenge alone. We have seen over the last few years just how quick and significant progress can be when we have the vision to work together.

Thirdly, we must retain and strengthen country ownership. Developing countries – who suffer disproportionately from food insecurity – must take the lead in defining their own path to prosperity.

Finally is the recognition of the critical importance of financing. The impressive progress so far will not be sustained and accelerated without new investment from both the private sector and developing countries themselves, in addition to traditional donors.

Developing country leaders, private sector companies, donors, NGOs and others now have the chance to achieve something incredible within our lifetimes. This week and into the future, I challenge my colleagues working in global development, especially heads of state and private sector leaders, to prioritise this issue. Working together – across sectors and disciplines – we can make hunger history.

Annan is the Chair of the Kofi Annan Foundation

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T H I S D AY • WEDNESDAY, SEPTEMBER 7, 2016

EDITORIAL IS JONATHAN BEING PROBED?

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Government should focus on addressing the militancy in the Niger Delta

he current crisis bedevilling the nation is bad enough to make any government nervous. For almost two years, the country’s economy has been contracting due to the global slump in the price of oil, Nigeria’s main foreign exchange earner. The situation has been worsened by the activities of a new militant group named Niger Delta Avengers (NDA). In the past few months, members of this group were engaged in the singular preoccupation of sabotaging oil infrastructure in the Niger Delta. These waves of attacks have profound implications for our national wellbeing. Indeed, available reports indicated that at one point, the country was losing about 800,000 barrels per day which slashed the nation’s crude oil output to 1.4 million bpd.

Unfortunately, instead of addressing the challenges associated with the problem, some people within the government seem to be looking for a scapegoat. In the past few months, media reports, quoting anonymous sources, but obviously from government of the day, were pointing fingers at former President Goodluck Jonathan as the man behind the Avengers. A shadowy militant group named the Reformed Niger Delta Avengers and some members of the Movement for the Emancipation of the Niger Delta (MEND) had also lent weight to these allegations. One of the media reports (yet to be denied) THE ACCUSATION LOOKS said the presidency MORE LIKE A THROWBACK has ordered a probe into the alleged links TO THE JONATHAN ERA between Jonathan, his WHEN THE ACTIVITIES wife, Patience, and the OF BOKO HARAM WERE LINKED TO MUHAMMADU militant group.

Even though a few BUHARI AND THE other names were usuALL PROGRESSIVES ally mentioned along CONGRESS (APC) with him, Jonathan WITHOUT ANY has repeatedly denied SUPPORTING EVIDENCE the allegation. In a BEYOND POLITICS

Letters to the Editor

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T H I S DAY

EDITOR IJEOMA NWOGWUGWU DEPUTY EDITORS BOlAJI ADEBIYI, JOSEPh UShIGIAlE MANAGING DIRECTOR ENIOlA BEllO DEPUTY MANAGING DIRECTOR KAYODE KOMOlAfE CHAIRMAN EDITORIAL BOARD OlUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN

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

EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOlA BEllO, KAYODE KOMOlAfE, ISRAEl IWEGBU, EMMANUEl EfENI, IJEOMA NWOGWUGWU GROUP FINANCE DIRECTOR OlUfEMI ABOROWA DIVISIONAL DIRECTORS PETER IWEGBU, fIDElIS ElEMA, MBAYIlAN ANDOAKA, ANThONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEh ASSOCIATE DIRECTORS hENRY NWAChOKOR, SAhEED ADEYEMO CONTROLLERS ABIMBOlA TAIWO, UChENNA DIBIAGWU, NDUKA MOSERI GENERAL MANAGER PATRICK EIMIUhI GROUP HEAD fEMI TOlUfAShE ART DIRECTOR OChI OGBUAKU II DIRECTOR, PRINTING PRODUCTION ChUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com

statement issued by his spokesman, the former president dismissed his link to the militants as the handiwork of people who hold long-standing grievances against him.

“There is no doubt that there exist such people who may have scores to settle with the former president,” said a statement by Jonathan’s spokesman. Indeed, last June, during an interview on Bloomberg Television, Jonathan himself said he was aware that the current administration was after him. “I am being investigated, yes, investigations are going on,” he said.

While we have no problem with agencies of state doing their work against any citizen, the allegation against the former president should be taken with circumspection. If anything, the accusation looks more like a throwback to the Jonathan era when the activities of Boko Haram were linked to Muhammadu Buhari and the All Progressives Congress (APC) without any supporting evidence beyond politics. But this is a dangerous gambit that we cannot afford, especially at such a delicate period as this.

In a recent editorial, we had canvassed the need for the federal government to apply both the stick and the carrot as a way of addressing the haemorrhaging energy sector and dousing the tension in the air. We urged the government to persuade the militant groups in the Niger Delta to seek more peaceful alternative ventilation for whatever may be their grievances and to deploy force only to deter further infrastructure damage without alienating the unarmed populace. We also harped on the need to enter into dialogue with any reasonable group ready for peace.

Evidently, the government is listening. In the past few weeks, the government has been tightening its grip on the militants in the Niger Delta, particularly with its “Operation Crocodile Smile” while also opening flanks for negotiations. Indeed, last Monday, the Avengers openly declared their cessation of hostilities for dialogue.

We consider this a remarkable milestone towards ending the violence in the Niger Delta just as we implore genuine militants, as against criminals, who have issues to come out and put them on the table.

But we also hasten to warn that attempts to rubbish President Jonathan with allegations that cannot be substantiated will only worsen an already bad situation.

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.

BETWEEN ASUU AND OLABISI ONABANJO UNIVERSITY

recall reading about members of the Academic Staff Union of Universities, Olabisi Onabanjo University chapter, when they declared an industrial action, claiming that the Ogun State Government owed them salaries for 16 months. One of their colleagues, one Dr Collins, pilloried the union for deceiving the public with the wild allegation of salary arrears. By the time the dust settled, it turned out that the Ogun State Government did not actually owe the workers one month salary let alone 16 months as claimed by the union.

I waited in vain to read an apology in the press by the union for such a deliberate misinformation.

As was later discovered, the union went on strike because of Earned Academic Allowances, an agreement it negotiated with the federal government, which gets 54% of the monthly Federal Allocation. I have no evidence that the state government was in a position to pay such, or that it actually paid. But everyone was happy that the strike was called off. That was in December, 2015.

It seems we are back to where we were in 2015. ASUU-OOU is once more on strike, but this time around it seems the issues are more confusing. In one breath we hear the union is accusing the government of not paying subventions to the institution. In another, there is a claim that government owes them salaries for three months. But reports in the media indicate that the union went on strike in the first week of August, alleging non payment of July salary by the management of the institution. This last point has been confirmed.

It therefore follows that the current strike, just like others in recent years, is hasty and insensitive, especially at a time when governments across Nigeria are confronted with financial crisis.

This is not an attempt to speak for the state government. As a matter of fact, one should emphasise that labourers deserve their wages. And so when you pay salaries, you are simply fulfilling your obligations. But given the current situation in the land, any government that is able to pay its workers necessarily deserves to be praised, because there are thousands and

one reasons why it is difficult to pay these days. There are pressures everywhere.

Workers constitute less than 2% of the population of every state in the country, but the governors will have to cater for the balance of 98% as well. This point should not be lost on any union.

Since delay or non-payment of salary has never been an issue in the last five years of the Governor Ibikunle Amosun’s administration, the most considerate action expected from ASUU over the one-week delay in payment of July salary should have been some engagement with the management of the institution and the state government through the OOU Governing Council. Going on strike at the drop of a hat is certainly not the way to go. How can a union, given the current realities in the country, declare an industrial dispute because of one week delay in payment of (July) salary? It certainly beats one’s imagination. And will management pay you while you are on strike?

It is equally surprising that the union should go outside its mandate, as a trade union, on the issue of subvention when

it is easily recalled that prior to 2011, the OOU’s Internally Generated Revenue, despite high school fees paid by students, could not fuel its vehicles let alone cater for any major expenditure, most of it having ended in private pockets. If the Amosun government has installed a new management with good corporate governance that has been able to meet the financial obligations to its workers, including clearing convocation arrears of eight solid years inherited, despite reduction in the school fees by the same Amosun government, I think the state government deserves plaudits, not pillory.

At any rate, can an administration that coughed up a whopping N2.5 billion to offset the arrears of salaries of members of ASUU-OOU it inherited from the previous government suddenly renege on its commitment to education, which is its first cardinal programme? All these facts have been in the public domain and the union has never disputed them.

ASUU-OOU should call off its present strike because it is clearly unwarranted.

Pade Oladayo, Ijebu Ode, Ogun State

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MIDWEEKPOLITICS

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

THE NEWSMAKER

Battle of the SANs

Finally, the stage is set for a battle of all times between Rotimi Akeredolu, a Senior Advocate of Nigeria and candidate of the All Progressives Congress and Eyitayo Jegede, also a Senior Advocate of Nigeria and candidate of the Peoples Democratic Party as they both slug it out on November 26 for Ondo State’s number seat. Shola Oyeyipo writes

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ne thing and only one thing is certain in Ondo State come November 26, when its governorship election would hold – its next governor is a member of the revered Senior Advocates of Nigeria (SAN). But who, between Mr. Rotimi Akeredolu of the All Progressives Congress (APC) and Mr. Eyitayo Jegede of the Peoples Democratic Party (PDP) is what presently eludes everyone, even the clairvoyant is unable to tell.

The Ondo election is clearly a two-horse race between the PDP and the APC as the two parties are the most formidable and well-known across the state. Although there are the fringe parties that would help populate the space, these two presently dominate the horizon. But what promises to be particularly intriguing in the election is that the candidates of both parties are legal icons of note with the title of Senior Advocates of Nigeria, parading requisite experience to govern the state.

On August 22, 2016, a dynamic and seasoned lawyer, Jegede, who qualified as a lawyer and was appointed a Notary Public by the Chief Justice of Nigeria in 1992, and rose to the rank of Senior Advocate of Nigeria (SAN) in less than 10 years, had picked the PDP governorship ticket.

He was considered the anointed candidate of the outgoing governor, Dr. Olusegun Mimiko.

He is the immediate past Attorney-General of the state. He resigned to participate in the governorship election.

Jegede polled 760 out of the 782 total votes cast by the PDP delegates, which represents 97.2 per cent of the total votes cast. The first runner up, Saka Lawal only polled 22 votes, which was 2.8 per cent of the votes, an indication that Jegede is widely accepted in his party.

On the other side of the divide, the All Progressives Congress no doubt paraded some high caliber politicians, who vied for the governorship ticket of the party. They include the governorship candidate of the PDP in 2012, Oke Olusola, Olabimtan Victor, Boye Oyewunmi, Robert Ajayi Borrofice, Olusegun Abraham (believed to be Bola Tinubu’s preferred candidate); Tayo Alasoadura, Bode Ayorinde, Jumoke Anifowoshe-Ajasin, Jamiu Ekungba and Moyosore Niran-Oladunnni, Others are Tunji Abayomi, Ademola Adegoroye, Akinyinka Akinola, Patrick Akinyelure, Omotayo Alasoadura, Derin Adesida Akinwale Akingbade, Akinrinsola Odunayo, Foluso Adefemi, Akinola Olayinka, Tunji Ariyo, Bukola Adetula; Niyi Adegbonmire (SAN) and Akeredolu, who eventually picked the ticket.

Aketi, as Akeredolu is otherwise known by supporters and loyal fans, graduated from the Obafemi Awolowo University, Ile Ife, Osun State, where he obtained his LLB degree in 1977 and the B.L from the Nigerian Law School in 1978.

He began his political career with his election as the vice-president, Students’ Union Government of the University of Ife during the 1975/1976 academic sessions and took it further to the NBA, where he served in various capacities at both the branch and national levels before becoming the president.

Apart from the contentious acrimonies that initially greeted the conduct of the election with some party members and aspirants alleging that the APC national leader, Tinubu had endorsed the Ikare-Akoko-born business mogul, Olusegun Abraham and some other allegations that the delegates’ list was being skewed to favour a particular aspirant, attention had focused on Akeredolu, as one of those favoured to pick the party’s ticket.

Akeredolu and Jegede at a function...who is the next governor

Hence, it was not surprising that at the end of the keenly contested primaries held last Saturday, September 3, at the prestigious Dome built by Mimiko and released to the APC, Akeredolu eventually won. He polled 669 out of 2,754 total votes cast which is 24.3 per cent of the total votes. Abraham scored 635 votes, which was 23.1 per cent to come second, Oke polled 576 votes, which was 20.9 per cent, Borofice polled 471 votes, which was 17.1 per cent and Alasoadura polled 206 votes, which was 7.5 per cent while the 19 other aspirants polled a total of 190 votes, which amounted to 6.9 per cent of the total votes cast.

Though Akeredolu, who was once an AttorneyGeneral in Ondo State during the military era, would relish his victory while he and his party return to the drawing board to scheme on how

The Ondo election is clearly a two-horse race between the PDP and the APC as the two parties are the most formidable and well-known across the state. Although there are the fringe parties that would help populate the space, these two presently dominate the horizon.

But what promises to be particularly intriguing in the election is that the candidates of both parties are legal icons of note with the title of Senior Advocates of Nigeria, parading requisite experience to govern the state

to defeat the PDP, which currently holds sway in the state, the APC standard bearer would definitely agree that the contest was stiff.

He only defeated Abraham with 34 votes and other aspirants such as Oke, Borofice and Alasoadura, made significant impacts, which is an indication that the primaries might have been free and fair. It also indicates that each of the aspirants was essential to his overall success at the polls.

But nothing could have better sealed Akeredolu’s victory than when Abraham, the first runner-up conceded defeat and at the same time, admitting that the Governor Abubakar-led committee, the APC leadership and members displayed transparency during the exercise.

His words: “I congratulate Rotimi Akeredolu, who emerged with 669 votes at the primary election of our great party, the APC, in Ondo State; my special regards and admiration for Alhaji Baderu Abubakar, the Governor of Jigawa State, and his team for their sterling quality and integrity in conducting the APC governorship primary in Ondo State.

“I also thank my teeming supporters for showing maximum solidarity throughout the campaign till now. I am not unaware of the pain you feel right now; with so much fervor, you all took our message of industrialising Ondo State to every nook and cranny. Thank you. I pray that our God will bring the much-needed prosperity we seek to Ondo state in earnest. I will not turn my back on my loving people of Ondo. I will continue to contribute my quota to the development of our state in any way God directs”.

Some observers have noted that since the addition of the percentages of the top five aspirants in the APC primaries totaled just 93.2 per cent which is still four per cent less than the 97.2 per cent polled by Jegede SAN, it is an indication of wider acceptability, but truth is that beyond the primaries, each of the candidates and their parties must sell their products – though of the same stock, to the public for consideration at the polls.

Both men would bring to the table, their records and credentials as well as contribution to the growth of the state and humanity in general. For instance, both of them had served as Attorneys-General in the state and both of them attained the pinnacle of their legal career.

Born to the family of the late Chief Johnson

Bosede, the Odopetu of Isinkan, Akure, and Mrs. C.O Jegede (née Asokeji) from Ipele town, near Owo in Ondo State, Jegede, has been involved in political cases and election petition matters, an area of law, where he has practised widely and is noted and respected.

In the quest for a more robust legal system in the state, Governor Mimiko engaged him as the Attorney-General and Commissioner for Justice. With his appointment as the number one law officer of the state, the Ministry of Justice is said to have witnessed positive changes in all ramifications. He would not be a hard-sell candidate for his party, many reckon, more so because he is a grassroots personality with a long standing relationship with those that matter.

Amiable and very polished Akeredolu was also born to Reverend Ola Akeredolu of Akeredolu family in Owo and Lady Evangelist Grace Akeredolu of Aderoyiju family of Igbotu, Ese Odo. He became the Attorney-General and Commissioner for Justice in Ondo State between 1997 and 1999 and has the track record of his far-reaching reforms, some of which are still visible in the state’s judiciary today.

He would come into the race as a brand for which he is known: principled and indisposed to all manners of obnoxious practices, including brazen thievery in the polity. He is also known for his unyielding opposition to bad governance.

It is perhaps for this reason that he scored his highest point of achievement at the NBA with his unopposed election as the president of the association, which comprises of learned and highly qualified persons.

As the November date of the election draws nearer, as expected in governorship races, the two candidates will present to the Ondo people, why they think they are the best for the state while the operators of their campaign machineries will be engaged in all the necessary legworks to enable their candidates have an edge. But what is almost certain is that the next governor of Ondo State is going to be an SAN, just in the case of the immediate past Lagos State governor and Minister of Power, Works and Housing, Mr. Babatunde Fashola (SAN).

Then whoever becomes the governor would be subjected to scrutiny to ascertain whether or not they could match the success record of Fashola while at the helm of affairs in Lagos, which would also tend to confirm that the SANs could be trusted with power at all times.

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PERSPECTIVE

MIDWEEKPOLITICS

Where are Orji’s Attack Dogs?

There should be limit to media hatchet jobs, writes Ebere Wabara

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n order to shield them from public opprobrium, I crave the indulgence of my avid readers to declare that no name will appear in this reflective article. The attack dogs used by the former governor of Abia State, Mr. Theodore Ahamefule Orji, know themselves and are also known by discerning followers of Abia politics between 2007 and 2015. So, their anonymity here does not really matter.

Of course, their butt of attacks, demonisation, criminalisation, futile demystification and blatancy of spuriousness was Dr. Orji Uzor Kalu, who could not be caged by an erstwhile president of this country let alone some spineless blokes, whose master and benefactor Dr. Kalu unilaterally enthroned despite unprecedented oppositional forces!

Now that the music is over, it will be interesting to know where the imbecilic fellows have moved on to or have stagnated, awaiting another Kalu for vituperative enterprise that throws up money in recompense for impolitic brazenness. We shall anchor this trip down memory lane with just an episode out of the multitudinous case of the rape of Abia by T. A. Orji. The incident under focus is the damning thesis on the state by billionaire Arthur Eze. One of the attack dogs, a journalistic rolling stone that has never gathered any moss right from his fleeting days in the old Daily Times up to his crashed misadventure in fledgling Hallmark Newspapers (recollect no nomenclatures), sought to elucidate on Arthur Eze’s unassailable declarations on the systemic rot in Abia State. In the fiasco, the asinine bloke displayed hollowness that confirmed his uncanny instability in the media.

The idiotic futility to reconstruct what was said by Eze of the Niger was sheer demonstration of illogicality of the worst order. In the first place, there is no ‘puzzle’ whatsoever with Eze’s re-affirmative avowals on issues already known by one and all in and outside the country. The subject is very clear to enlightened members of the society.

Perhaps, the only exceptions would be the rascally attack dogs, whose desire for stomach infrastructure could make them twist just about anything as long as the economics is right!

Writing in The Nation on Sunday of September 14, 2014, one of the traitorous attack dogs said only Daily Sun carried the dispassionate summation of Eze simply because the newspaper belongs to Dr. Orji Kalu, the former governor of Abia State, who is at loggerheads with his successor, Theodore Orji, for reasons that bother on the latter’s legendary incompetency, ingratitude and witchhunt. Can some of the treacherous attack dogs that I have known for the past 20 years afford to buy a newspaper as to know that only Kalu’s medium carried the damning report?

For the bohemians’ civilisation and benefit, The Moment, People’s Daily, Daily Champion and copious online portals disseminated the developmental information. In any case, I also read elsewhere that a lot of money was expended by the Abia State government on the day of the incident to ensure that the report did not come out the next day.

And to a large extent, there was near-blackout of the critical event! This is confirmatory of the level of media corruption in the country. It is unfortunate that the hangers-on-for-life symbolised by these attack dogs cannot know some of these exclusive details.

The irresponsible attack dogs also talked about Eze’s “Anambra State nativity

Orji...moving against the tide

and sowing the seed of discord among the good people of Abia State.” If the garrulous attack dogs were comfortable

Of course, their butt of attacks, demonisation, criminalisation, futile demystification and blatancy of spuriousness was Dr. Orji Uzor Kalu, who could not be caged by an erstwhile president of this country let alone some spineless blokes, whose master and benefactor Dr. Kalu unilaterally enthroned despite unprecedented oppositional forces...Now that the music is over, it will be interesting to know where the imbecilic fellows have moved on to or have stagnated, awaiting another Kalu for vituperative enterprise that throws up money in recompense for impolitic brazenness

with the graveyard accord/silence in Abia State, most Abians were not fooled and would gladly welcome seeds of discord from sympathetic Nigerians irrespective of their states of origin, which is immaterial in the circumstance.

Such anaemic distractions in the name of analyses by illogical attack dogs of this world can only appeal to those, who cannot see beyond their nasal cavities. So, because someone is from another state, he should not intervene in another state?

What kind of brainlessness is this?

Do we have to sacrifice our dignity because of a pot of porridge from Government House, Umuahia? The attack dogs said equally that the only reactions to Eze’s “diatribe and outburst” they found after monitoring were from persons and groups known to be critical of the immediate-past administration in the state. Did the loquacious attack dogs expect reactions from praise-singers and worshipers like themselves, ‘Abia elders’ as defined by Government House and members of Abia Patriots all of whom were undergoing a rehabilitative regime of the generous T. A. Orji locust leadership?

Let there be some modicum of rationale in public discourse, handouts should not make attack dogs unthinking animals!

And to speciously cap the bovine ignorance, the attack dogs round off this aspect of their weird interjection by saying only the same newspaper (veiled and cowardly reference to Daily Sun) reported the reactions. I advise the stupid attack dogs to join the free readers’ club present at major newsstands to pay N20 and hurriedly scan as many publications

as possible.

The former governor’s Chief Press Secretary’s office, where the attack dogs hung on in the absence of gainful employment confided in me that they buy mostly “friendly newspapers” and the Sun titles for obvious reasons. Therefore, how can the vicious attack dogs have access to leading publications or other unfriendly media?

At this point that the party is gladly over, I advise the clownish attack dogs, some of them my good friends, to face pastoral work, which seems to be their last port of employment call.

Having failed abysmally in journalism on account of their mercantilism and holistic professional irresponsibility as certified hacks, the deviant attack dogs should, as a matter of last resort, concentrate on winning souls for the Lord and this is hoping that they have the ability and anointing to discharge this onerous evangelical task they may compellingly choose as a last survivalist option.

Communication generally and journalism particularly are not their forte. It is possible the depraved minds did not know until May 29, 2015!

The harebrained attack dogs also made allusions to their emptiness and foolishness by saying that drums were not rolled out in celebration of Eze’s comments. When people are shocked to the marrow, there is usually little or nothing to add. What was anyone going to say that had not been said before Eze’s contribution?

It was not a revelation. The matter had been in the public domain since May 29, 2007. Why it was generally rehashed at all in the media was because of the personality of the eminent business mogul and billionaire philanthropist. Otherwise, not even Sun would have given it a mention! Who, apart from beneficiaries of the stench, does not know that T. A. Orji was a colossal failure and that Abia was under arrested development from 2007 to 2015?

Because of what the moronic attack dogs used to get from T. A. Orji for sustenance, they used gutter language in describing Eze’s comments and rounded off by saying that the prince made those utterances because of his filial relationship with Dr. Kalu and went ahead to make betrothal linkages which must have informed Eze’s position! It is only in Igbo land that this kind of blatant disrespect is possible. If the venomous attack dogs were from the South-west or the North and made this kind of importunate, absurd and stupidly disrespectful vitriolic, they would have been in hot soup by now.

The lesson for the attack dogs, henceforth, is that they should not be indecorous in their choice of words especially when addressing a man of Eze’s standing.

There is life after Ochendoism. May God help us so that what we shall eat will not kill us. And so shall it be! The face-off between Dr. Orji Uzor Kalu and T. A. Orji cannot be resolved by irritants like the attack tomfools, who specialise in buffoonery!

Is it not an irony that one of the attack dogs, who were inherited by Dr. Okezie Ikpeazu was recently dismissed on the grounds of incompetency, incapacity and notoriety among journalists in the state and rudeness to commissioners! Food for thought: with politicians in power, you need to be tactful as a media aide. Relentlessly attacking the governor’s opponents foolishly does not guarantee employment when crises set in!

-Wabara is the media adviser to Dr. Orji Kalu

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FEATURES

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

Peace Agreement Between Fathers and Daughters

While most Nigerian fathers do not consider their role in the upbringing of their adolescent girl-child to include constant communication and attention, a conversation between fathers and teenage girls have set the tone for reconsideration, writes Martins Ifijeh

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hile the three years intense war between North and South Korea of 1950 ended with a peaceful Korean armistice agreement in Panmunjom, a location within the Korean territory, the ‘war’ between Nigerian fathers and their daughters didn’t end with a signed agreement within the family territory. It, in fact, ended at a neutral location comfortable to both ‘armies’. It was at the United States Consulate in Lagos where a ceasefire agreement was signed with a commitment from both parties to maintain ceasefire.

Prior to the agreement, all sides had the opportunity to share their concerns and fears, an opportunity the daughters jumped at to throw the first salvo. They wondered why they were the most misunderstood in the family, especially by their fathers who oftentimes consider them not as good as the boys. They wondered why fathers would take the boys out for sports or for a long personal discussion, while they, on the other hand were confined to reading their books or asked to find a space in the kitchen or laundry room to exude their talents and boredom.

They wondered why they were being asked to do all the cookings when they can share the job with their brothers, as well as why they were asked to dress in a certain way when their friends dresses ‘cool’ and ‘sexy’. In fact, one unanimous judgement by the girls was that they were not friends with their fathers because fathers were masters at raising their voices at any provocation, plus fathers never create time for father-child conversation in the home.

For the fathers, who through genuine love and concern for their girls’ future, shared their own concerns, accepted that truly they are not as close to their daughters as they should, but they were quick to say they believed they were being strict with their girl-child in order to instill the right values in them such as knowing the place of a woman in a home and how best they should carry themselves.

They believed their girl-child was the ‘weakest’ in the house, hence they must stand as

Prepare and plan what it is you want your child to emulate and learn.

Whatever it is you do not want them to copy from you, eliminate it out of your life. With children, it is not about what you say but what you do. Use yourself as an example, motivate and inspire your children to be all that they were created to be.

Let them see you excel and live right and aspire to do just like you and even greater

Some of the girls and fathers at the forum

Onyenokwe (standing), discussing with the girls

a protector for them, an approach they said could be misunderstood by the daughters, who because of their budding period (teenage years), would prefer absolute freedom to the ‘gagging’ they currently have.

With fathers and daughters explaining their sides of the story, it was time for the mediators to attempt at bridging the relationship gaps and mending the fences between fathers and their daughters, and then proffer sustainable

coexistence plan between a typical Nigerian father and his daughters.

The chief mediator was the GirlsAid Initiative, a non-governmental organisation majoring on the girl-child development. Other mediators included a behavioural psychologist and a life coach, Mr. Lanre Olusola, popularly known as the catalyst, and the Publisher of Today’s Woman Magazine, Adesuwa Onyenokwe, who through their experience as youth advocates helped in

amicably providing answers to pertinent questions.

Olusola, who started by apologising on behalf of fathers for not paying quality attention to their girl-child, said the best upbringing fathers can give to their children was the one that should come through friendship, adding that, it was only in such atmosphere that communication and father-daughter relationship can be strengthened.

He said before the wide gap between a father and the daughter can be closed, it was important

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FEATURES

Fathers brainstorming on how best to communicate with their adolescent daughters

fathers know the factors contributing to the issue, which he said if not checked could add to the nuisance value found in some today’s children because of the inability of the parents to communicate the right values to them as they should.

According to him, the issue with a typical Nigerian father was absenteeism, distraction, lack of communication, inability to recognise the changing times, among others, adding that, one or more of these attitudes play a major role in the gap experienced between fathers and their daughters, adding that this must be curbed so that fathers can optimally nurture their daughters to what they really want them to be.

“One major challenge with today’s parents, especially fathers, is absenteeism. Work, social and other life challenges make fathers not there for their children as much as they should. While they would have loved to be home all the times, the quest for meeting the family’s financial needs and other demands have made this more challenging, but for a father that recognises that family is priority, it is very much important that at least a quality one hour is set aside daily to interact with their children.

“As the girl-child begins to grow into a teenager, her social circle begins to change, same with the urge to get answers to salient questions, especially the ones that have to do with boys and emotional relationships. If the father is too busy to discuss, who then should she turn to? A father knows the tricks of these boys, because he was at one time a boy, and he knows all the tricks there is to catch a young girl. Without communication, the father will not be able to provide that basic guide needed for his daughter to manage situations like this when they present themselves. So fathers must not be too busy to attend to their daughters,” he said.

He frowned at parents living the upbringing of their children to house helps, adding that such children often end up picking the habits and values of their house helps, nannies and even drivers because they spend the most time with them rather than with their parents.

He also stated that no matter how busy parents were, the little time they had should be spent qualitatively with their children, as this would give them a sense of belonging and opportunity to know what has been happening in their lives, beyond the family circle.

“Understand that when you let go of your right as a parent, there are implications, and you have no choice than to deal with the implications that come with it. Note that like everything else, it is not only about how long you spend with your kids but the quality of

L-R: Olusola the Catalyst, Lewu and Onyenokwe

time you spend. Many parents are physically with their children but are absent because they are on the phone or doing something else,” he added.

He said: “Prepare and plan what it is you want your child to emulate and learn. Whatever it is you do not want them to copy from you, eliminate it out of your life. With children, it is not about what you say but what you do. Use yourself as an example, motivate and inspire

The way we speak to them is important, don’t raise your voice at them.

You can make them see things your way better if you are calmer about it. Don’t let them see you as a bully-figure.

Our girls are smart and willing to stand up for a conversation, but parents, especially fathers must create the enabling environment and set the tone

your children to be all that they were created to be. Let them see you excel and live right and aspire to do just like you and even greater.

“The greatest challenge facing the 21st Century father is the fear of what becomes of their daughters in a fast changing world. Many parents have regarded internet and social media as bad tools from which their children must be prevented. But, we must ask ourselves the right questions. What are the values that are relevant in this century?” The Catalyst said.

Western influence on African culture, he said, do not pose problems to the upbringing of a girl-child, noting that the Western culture came with some good influence that could help African fathers nurture children, adding that parents should drop impracticable old values in training children. “We will create a major disadvantage if we choose to bring children up with old values that cannot work in the 21st Century. What was relevant to us in the 19th Century may not be relevant in the 21st Century, which our children belongs. So understanding the times would go a long way in managing a 21st Century child,” he said.

Olusola noted that it was crucial for parents to maintain a balance between African culture and the western one. Adding that, parents should be bothered with the fact that some Western cultures were good, while there were some parts of the African culture that needs to be done with. “Filter the bad or old ones from these cultures, whether western or African, and then retain the relevant ones in this 21st Century for your child,” he explained.

On the internet being a tool for negative exposure for children, Olusola said parents should have internet security plans in place in order to filter the negative information away from the

reach of their children’s phones, laptops, and other smart devices. He recommended K9 and Net Nanny applications, which he said when installed in the smart devices could help in reducing the negative contents these children were exposed to.

Advising the girls, Olusola said, “for the girls, we want you to trust us as your fathers, we may have been too overbearing in the past, but we will try henceforth not to raise our voices at you when talking, we will try and create an atmosphere for conversation. We also want you to trust our judgement because we will not infringe on your space or rights no matter what.”

He concluded by stressing that a father who is unable to communicate the right values to his girl-child would most likely not be a role model to the child. “What better crown does a father want other than his girl-child referring to him as her mentor or praying that her future husband behaves like her own father. Achieving this is a lot of work and sacrifice from the father, but it is realisable,” he stressed.

For Onyenokwe, who is also a mother of four daughters, said with her separate conversations with the over 30 young girls at the parley, who were between ages nine and 10, the girls have overtime, due to the tones and body languages of their fathers, concluded that not everything about them would be shared with their fathers.

She was, however, quick to explain to them that fathers deserved to know the tiniest of details in their lives as that was the best way to guide them through their reformative years and on the path of destiny.

“I asked the girls if they would be willing to discuss sanitary pad, emotional relationships and other things girls do with their fathers, and majority of them said no,” adding that this was a source of concern. “When young boys disturb our young girls for relationship, these girls, ideally should be able to run to your daddy because he was once a boy, and he knows all the tricks there is to woo a woman to bed. He can advise them on how best to tackle it,” she said.

She noted that fathers can get their girl-child’s attention back and they will become close if they show appreciation to their girls, take them shopping, create quality time for interaction, as well as stop raising voices at them. She also advises the girls to get their parent’s attention by being well behaved and focused in life.

On her part, the coordinator of GirlsAid Initiative, Dr. Abosede Lewu, who is a Mandela Washington Fellow, said adolescence was a challenging period, especially for the girl-child because that represents their period of rapid transformation mentally, psychologically and physically, adding that, how best their parents manage this period of their lives often goes a long way in determining the kind of mother or wife they would be in the future.

She said really, girls want to talk to their fathers, but the posture and tone of fathers have never helped in this regard. “The way we speak to them is important, don’t raise your voice at them. You can make them see things your way better if you are calmer about it. Don’t let them see you as a bully-figure. Our girls are smart and willing to stand up for a conversation, but parents, especially fathers must create the enabling environment and set the tone,” she said.

She called on parents to stop celebrating only the most intelligent in the house, adding that every child can’t all be at the same intelligent quotient, but could be celebrated as well. “In the past one month we have been seeing parents on social media celebrating their children that win awards or that came out first in school, but what bothers me is that what are we doing to the children who are not getting the first positions in class or are not winning awards.

Do you celebrate them, do you sit them down to discuss it. Why celebrate only first, what of second, what of third?”

Lewu said where parents miss it sometimes was that often times they believed when they castigate their children who were not getting the firsts or awards. It would make them better.

“What such children need is your encouragement. Have you ever sat them down to discuss why they took third and not second or first?

When this is done, you will know the best way to aid them in future,” the Obstetrician and Gynaecologist stated.

Also lending his voice, the Deputy Press Officer, US Consulate in Lagos, Frank Selin, said the best way to empower women was to begin with girls, adding that fathers can raise decent girls by being more involved in their lives.

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IMAGES

WEDNESDAY,SEPTEMBER 7, 2016, • T H I S D AY

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

Abia State Governor, Dr. Okezie Ikpeazu (left), receiving an award as “NEHEMIAH OF ABIA’’ by the Men’s Ministry, Aba North District of the Assemblies of God Church from Rev. P.C. Emeaba, District Superintendent of the church, Ukegbu Road in Aba...recently

Winner of a Samsung Galaxy Tab, Idiaghe Osariemen (left), receiving his prize from the Head, Technical Customer Support, Etisalat Nigeria, Valentine Amadi, during the Etisalat Customer Forum in Benin...recently

L-R: Chief Inspector Officer, National Youth Service Corps (NYSC), Mrs. Stella Owan; Inspector Officer, NYSC, Mr. Michael Yohana; Coordinator, National Energy Efficiency Seminal, Miss Deborah Braide; and NYSC Inspector, Mrs Lilian Wellington, at the National Energy Efficiency Exhibition in Abuja...recently enock reuben

L-R: GOtv Operations Support Supervisor, Bisi Olayinka; GOtv Marketing Manager, Johnson Ivase; and the Public Relations Manager, GOtv, Efe Obiomah, during the GOtv Customer Forum at the National Stadium, Surulere, Lagos...recently

L-R: Chief Financial Officer, MainOne, Babatunde Dada; Chief Executive Officer, MainOne, Funke Opeke; Deputy Managing Director, Huawe Nigeria, Jimmy Lee; and Account Manager, Huawei Nigeria, Daniel Ding, during a Data Centre agreement between Huawei and MainOne in Lagos...recently

L-R: Executive Director, Finance & Administration, Red Star Express Plc, Babaura Auwalu; Chief Executive Officer, Nigerian Stock Exchange, Oscar N. Onyema; CEO/Managing Director, Red Star Express Plc, Olusola Obabori; and Executive Director, Sales & Marketing, Red Star Express Plc, Victor Ukwat, during the NSE closing gong ceremony by Red Star Express Plc, in Lagos...recently

L-R; Newly Installed President, Rotary Club of Maryland, Ikeja, Rotarian Babatunde Ojo, his predecessor, Rotarian Dr. Femi Akodu, and Past District 9110 Governor, Rotary Internationa, Rotarian Adeniji Raji, at the Installation of Ojo in Ikeja, Lagos....recently

Chief Executive Officer, Weco Systems International, Mr. Obinna Ekwonwa (left), and Regional Sales Manager, East and West Africa, NetApp, Joel Ryser, during the official presentation of Platinum Partner Certification Status to Weco Systems in Lagos..recently

23

WEDNESDAY, SEPTEMBER 7, 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 18.5083% 16.6507%

A S

NIBOR

3-MONTH 6-MONTH

A T

17.7268% 20.3556%

S E P T E M B E R ,

NITTY 1-MONTH 2-MONTH 3-MONTH

15.4261% 15.7513% 16.1576%

6-MONTH 9-MONTH 12-MONTH

19.2703% 20.6120% 22.3006%

1 ,

2 0 1 6

EXCHANGE RATE N314.77//1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes WAPIC Insurance Sponsors Movie

BUSINESS EXPANSION

L-R: The Zonal Head, FCT3 of First City Monument Bank (FCMB) Limited, Mr. Akinwumi Kolapo; Group Head, Branch Management and Trade Services, Mr. Oluwakayode Adigun; a Director of Dantata & Sawoe Construction Limited, Mr. Joerg Adelt and the Manager, Asokoro branch of the Bank, Mrs. Rita Aghware, during the opening ceremony of the FCMB branch at Asokoro in Abuja …recently

Agusto & Co Highlights Key Reforms to Save Nigeria’s Economy Obinna Chima Nigeria’s credit rating agency, Agusto & Co, has stressed that the country will require a chutzpah of economic reforms to get its economy out of the present state of economic recession and remain above waters.

The economy had traditionally posted strong Gross Domestic Product (GDP) growth numbers of between five and seven per cent in the last decade but struggled with job creation over the years, which led to the “jobless growth” description of the country’s GDP numbers.

But the latest figures by the National Bureau of Statistics (NBS) released last week, showed that the economy contracted by 2.06 per cent year-on-year in the second quarter of 2016, as against the 2.4 per cent recorded in the cor-

ECONOMY responding quarter of 2015, thus confirming the nation to be in a recession. The deepening of Nigeria’s economic decline was largely due to the troubled oil and gas sector, which contracted by eight per cent year-on-year in the second quarter of 2016, as against the 6.8 per cent in the comparable period in 2015.

Nevertheless, Agusto & Co, a Pan-African firm pointed out that this time around, Nigeria must grow its economy and create jobs as well, just as it highlighted reforms required for the country. Furthermore, they stated the reforms required would entail a clear ideological understanding of government’s role in the economy.

The firm reiterated that it had long argued that the core function of government in the

Nigerian economy should be the generation of revenue through taxes and the prioritisation of government spending.

“We believe that taxation remains by far the largest and most sustainable source of government revenues. The change in mind set to taxation will require three major principal objectives. The first is that businesses will be encouraged to thrive because the more profitable the businesses, the higher the tax revenue generated thereon.

“The second is that revenues generated by the government will be used to finance its spending and thirdly, the tax revenue will be used to redistribute income from the rich to the poor. It is these time tested principles that have worked successfully for the rich global economies and

it is on this premise that the diversification of the Nigerian economy will need to be built,” it added.

According to Agusto & Co, by adopting progressive tax rates for individuals, competitive tax rates on profits of businesses and discriminatory rates of taxes on spending the economy can begin to evolve into a more competitive one even while consolidating on the social contract between government and the citizens.

Furthermore they noted that through the diversification of government equity holding in state owned enterprises (SOEs) especially in key sectors like energy and transportation, the economy can be gradually weaned off its statist leanings that have long stymied output, Continued on page 24

Stocks Beat Inflation, Deliver Positive Returns to Investors Goddy Egene

CAPITAL MARKET

As investors bemoan the impact of the rising inflation on their investments, some stocks have given investors positive returns at the stock market. The National Bureau of Statistics (NBS) last week released macroeconomic data for the month of July, showing an inflation rate of 17.1 per cent.

This implies that for investors to record positive returns on their investments, such returns must be above the inflation rate.

And considering the state of

economy, most investments would give negative returns.

However, THISDAY checks on Monday showed despite the high inflation rate, some investors in stock market have recorded positive returns that are above the inflation level.

For instance, investors in Dangote Flour Mills Plc are enjoying a return of over 218 per cent as the stock has recorded a capital appreciation of about 236 per cent between January and last Monday. E-Tranzact Plc

fetched investors over 80 per cent after discounting inflation, while United Capital Plc boasts of 58 per cent. Total Nigeria Plc recorded a return of 47 per cent, just as Seplat Petroleum Development Company Plc and Guaranty Trust Bank Plc posted 38 percent and 37 per cent respectively.

Other stocks that have put smiles on the faces of investors are: A.G Leventis Plc (45 per cent); Union Dicon Salt Plc (39 per cent); Presco Plc (37 per cent); Eterna Plc (34 per cent); Neimeth International

Pharmaceuticals Plc (33 per cent); DN Meyer Plc (30 per cent); United Bank for Africa Plc (28 per cent) and International Breweries Plc (24 per cent).

Apart from capital appreciation, investors in equities also receive cash dividends and bonus shares when companies record profitability. Although the market has been volatile in the past two years, stakeholders are bullish on the market.

According to the stakeholders, the low level of prices of Continued on page 24

In line with its corporate social responsibility (CSR) focus on health, Wapic Insurance Plc said it sponsored the production of the movie -93 Days - a media based initiative centered on the true-life story of the outbreak of the highly dreaded Ebola Virus and its eradication in Nigeria.

The Company is set to hold a private screening of the movie on September 9th, 2016 at the Genesis Deluxe Cinemas, Lekki.

A statement explained that the event, which is already generating interest, is expected to witness a high turnout of the cast of the movie, top celebrities, customers and staff of the company.

According to co-producer of the movie, Steve Gukas, “93 Days is a movie that celebrates the act of doing what is right, selfless service and making a difference in the world.”

“By associating with the movie production and screening, Wapic Insurance is making a bold statement about its values and virtues as well as its commitment to partnerships that promote social well-being and sustainability in health care. The event would also offer an opportunity for Wapic to appreciate its customers for their support towards the growth of the company,” it added.

The movie -93days -is said to be based on true events in relation to the sacrifices made by men and women who risked their lives to save Nigeria from the spread of the Ebola Virus and in honour of a hero Dr. Amayo Stella Adadevoh, who played a significant role to eradicate the virus. It is a story of how ordinary citizens through resilience and sacrifices gave their all to promote the common good.

FICAN Holds Forum on e-Payment

The Central Bank of Nigeria (CBN) will be hosting the September EditionoftheFinanceCorrespondentsAssociationofNigeria(FICAN) Bi-Monthly forum in Lagos. The event, with theme: ‘Development in the Electronic Payment Industry in 2016’ will hold on Saturday, September 10 at the FICAN Centre, Lagos.

Accordingtoastatement,theguestspeaker,whoistheCBNDirector, Banking & Payment System Department, Mr. ‘Dipo Fatokun, will ex-ray the key issues that have defined the electronic payment industry within this year.

Fatokun will be speaking on the implementation of the cash-less banking policy, its impact on the payment system, Bank Verification Number(BVN),mobilebanking,internetbankingandbankingsecurity.

The CBN director will also address issues around electronic payment frauds, and the need for bank customers to protect their account details. “We enjoin all members of the association to take part in this forum to enhance their capacity to deliver on their work. Through this training, there would be information exchange and knowledge sharing on electronic banking, that would restore public confidence on electronic payments,” it said.

Firm Introduces Android Platforms

Sophos has announced Sophos SafeGuard Encryption 8, a new synchronised encryption solution that protects data against theft from malware, attackers or accidental leaks.

With this, the firm stated that all organisations can now choose to adopt the best practice of “always-on” file-level encryption to protect data accessed from mobile devices, laptops, desktops, on-prem networks and cloud-based file sharing applications.

Sophos is the first vendor to provide persistent, transparent and proactive encryption that protects files across Windows, Mac, iOS or Android platforms by default.

“Full disk encryption alone only protects data in the event of the theft or loss of a laptop or mobile device. But data travels everywhere - it’s vulnerable and extremely difficult to protect consistently when shared and opened from multiple devices and cloud-based collaboration applications,” the senior vice president and general manager, Enduser Security Group, Sophos, Dan Schiappa said.

“We’ve completely re-imagined SafeGuard Encryption 8 to encrypt each individual file by default and continuously validate users, applications and devices for secure collaboration. We also provide passwordprotectedfiles,allowinguserstoshareencryptedfileswith external recipients. When data security is simple and transparent, end users are more likely to accept it, making your whole business more secure and more likely to stay compliant.”

“Deposit is our raw material.

Certainly, if the sector lost over N2trillion, it would impact.

You will see the impact on the liquidity of every institution.”

MD/CEO, Wema Bank Plc

Mr. Segun Oloketuyi

24

WEDNESDAY, SEPTEMBER 7, 2016, • T H I S D AY

BUSINESSWORLD AGUSTO & CO HIGHLIGHTS KEY REFORMS TO SAVE NIGERIA’S ECONOMY productivity and tax revenues from these sectors.

“We believe the private sector is best equipped to create jobs and the government should seek to transform more SOEs into private sector firms. Similar reforms in the telecommunications and pensions industry and seaports, have worked in this Fourth Republic and will also work in other high impact sectors like energy and transportation.

With bold reforms, Nigeria can attract capital, generate revenues for social investments and stimulate job creation,” the report added. The NBS latest data showed that the country entered recession, the first in the lives of over 60 per cent of the country’s population. Nigeria last experienced a recession in 1991 when the country was still in the throes of military rule.

STOCKS BEAT INFLATION, DELIVER POSITIVE RETURNS TO INVESTORS stock offers a very good entry opportunity for investors to reap good returns in the very near future, saying that many of the companies are adopting strategies that have started impacting positively on their performance.

Dangote Flour Mills Plc, which has recorded a significant capital appreciation this year, returned to profitability recently.

The company posted a profit before tax (PBT) of N2.64 billion for the nine months ended June 30, 2016, compared to a loss of N9.55 billion posted in the corresponding period of 2015.

Chairman of Dangote Flour Mills, Mr. Asue Ighodalo, said: “Since the take -over, we have taken a lot steps to reposition the company through expansion to drive growth. We are also using this medium to restate our commitment to increasing our shareholders value and our dear customers. Our processes and management have been strengthened in order to stabilise the business and place it on a sustainable path aimed at creating value for its stakeholders.”

Group Business Editor

NEWS

NAIC Rules Out Compensation for Victims of Tomato Virus Ebere Nwoji The Nigerian Agricultural Insurance Corporation (NAIC) has said that tomato farmers will get no compensation for losses incurred during the outbreak of ‘tomato Ebola Virus’ in different parts of the country.

The Corporation explained that its role is different from that of the National Emergency Management Authority (NEMA), adding it cannot provide succour to the farmers in the loss since there was no insurance cover for their farms.

The Deputy General Manager Business Development of NAIC, Mr. Bashir Martins, who stated this while fielding questions from journalists during a media retreat organised by the Insurance Industry Consultative Council in Abeokuta, Ogun State, said before the outbreak of the tomato Ebola Virus, no tomato farmer insured his farm against such risk.

Against this backdrop, he said there will be no compensation for them from NAIC’s end.

He described the tomato virus as a fundamental risk that cannot be estimated or calculated adding that it was one of the worst risks farmers could be exposed to.

According to him, if the farmers had considered the uncertainty nature of agric risk

and insured their farms, NAIC would have immediately come to their aid.

In May, there was outbreak of tomato moth in the northern part of the country, which destroyed over 80 percent of tomatoes planted by farmers in the region.

Nigerian farmers described the outbreak as ‘tomato Ebola’, the deadly disease that devastated West Africa in 2014.

The moth with botanical name Tuta absoluta, destroyed over 80 percent of the tomato planted in the country, resulting in skyrocketing price of tomato in different parts of the country.

For instance, during the epidemic, a wholesale basket containing hundreds of tomatoes sold for N42,000 ($212), up from N300 price before the outbreak.

Reports said that over 200

tomato farmers in kaduna, the state worst hit suffered over N1billion loss on account of the virus. It was also reported that government sent agric experts to Kenya to develop a strategy to combat the brown moth, which lays eggs on tomato plants and develops into a hungry caterpillar that feeds on the leaves, stems and fruit.

Martins said insurance is a financial tool used to transfer

ENHANCING E-COMMERCE

L-R: Head, SME Banking Unity Bank Plc, Opeyemi Ojesina; Gen. Alexander Ogomudia (rtd); CEO, Aniwura.com, Princess Iwayemi Ogomudia and BM, Sanusi Fafunwa Branch of Unity Bank, Fola Ologun at the unveiling of Aniwura.com, an e-commerce platform, in Lagos …recently

Lalong Moves to Boost Revenue Sources, Revives Moribund PIPC Seriki Adinoyi in Jos Forty years after its establishment, the moribund Plateau Investment and Property Company (PIPC) has been resuscitated and engaged by Governor Simon Lalong to assist his government in revenue drive to compensate for the dwindling economic fortune of the nation.

Briefing journalists on its many engagements in the past nine months, Chairman, Technical Board of PIPC, Nde Ezekiel Gomos lamented that the hitherto vibrant investment and property company was literally killed by the Jonah Jang administration in the name of restructuring. He said all staff of the company

were sacked, and the new staff that took over knew nothing about the company. “That was what informed our coming in as a technical board to inject some experience into reviving the company.

“We recalled the sacked staff and realised even before their so-called sack, they’ve not been paid for one year. So we began by clearing all their salary arears.

The company was also recording serious financial losses during the so-called restructuring which reached about N29million; in about nine months we’ve been able to clear that also, and the company is now profitable. We also inherited an overdraft balance of N19million taken from a Commercial bank, which we

have also paid.”

Outlining some of the activities of the company to help the state in generating revenue, Gomos said works are on-going at reviving the Bokkos Fertilizer Company that was abandoned since 2003, and at Highland Bottling Company, Barkin Ladi to resuscitate them and make them good sources of revenue generation for the state.

Gomos said PIPC partnered wife of the Governor, Mrs. Regina Lalong to train over 100 women in entrepreneurship and skill acquisition as part of the International Women Day celebration in Plateau State.

He added that aside from reviving Business Foundation radio magazine programme,

PIPC recently sponsored the first ever dinner hosted by Governor Lalong with the business community in Jos in July.

In its nine months of operation, the technical board said that it has put a robust machinery in place towards the rebuilding of Jos Main Market through Public-Private Partnership (PPP) by driving the process that led to the signing contact of N232million with a UK company for due Technical Advisory Services. He also stated that within the period they have renovated six–storey corporate headquarters -Murtala House.

Commending the laudable job in a space of nine months,

AgriBusiness/Industry Editor

NBMA DG: Unsafe GMOs Barred from Nigerian Market

Comms/e-Business Editor

Adedayo Akinwale in Abuja

Chika Amanze-Nwachuku 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)

risks inherent in an activity, via the payment of premium adding that it involves the exchange of a relative small payment (premium) for protection from uncertain but potentially larger losses.

According to him, insurance combines the loss faced by a large number of individuals who contribute equitably to a common (fund) pool, which is used to pay losses due to any individual in the pool.

The Director General, National Biosafety Management Agency (NBMA), Dr. Rufus Ebegba, has said that no Genetically Modified Organism (GMOs) that are not safe would be allowed into the Nigerian market either for planting, consumption or for any purpose.

The DG gave the assurance in Abuja at a recent workshop organised by the Open Forum on Agricultural and Biotechnology in Africa (OFAB) in collaboration with Journalists for Social Development Initiative (JSDI) and Program for Biosafety

System (PBS) for Journalists and Communicators on GMOs. He noted that any company, individual or group coming to do business in the country must be ready to comply with the national biosafety law.

According to him, “The issue of the safety of GMOs has always been in question by so many people particularly by activists; one thing is that it is clear globally that there is nothing in this world without one adverse impact depending on how you apply it.”

Ebegba stated: “The issue of GMOs, what I can assure is that with the establishment

of NBMA and a law for it to implement, no GMOs that are not safe will be allowed in the Nigerian market either for planting, for consumption or for any purpose.”

Reacting to a question on the rejection of MONSANTO by some countries and which had been recently given approval by the agency, he said; “Nigeria as a country has laws and will also have a national biosafety law, any company either individual or group coming to do business in Nigeria must comply with the Nigerian law.

“The standards in other countries may not necessar-

ily apply in Nigeria case; we will ensure that the Nigerian standards apply and we ensure that nobody brings anything that is not useful to Nigeria, anything that will be harmful to the Nigerian environment, that’s what I can assure you that anybody coming to do business in Nigeria must be ready to comply by Nigeria national laws, particularly the GMOs.” Ebegbaemphasised that as a regulator, he has a responsibility to ensure that all concerns are properly addressed so that those concerns will not manifest; adding that the major

the technical board said, “Six of our houses in Gwarimpa Estate, Abuja have been renovated and rented out to tenants; and we have invested N75 million in a property in Rayfield, Jos; we have also designed and sold 90 plots from the Racecourse Turf Club along Bauchi road; and we have been able to track and recovered all the investments of the company valued at about N155 million that were lost during the so-called restructuring exercise.” He said that Plateau State government can now hope that with all that PIPC has put in place to generate revenue for the state, in the medium and long term, the economic crunch biting hard on the nation would be cushioned.

concern he has presently was the misinformation flying all over the place, while urging journalists to source their information from the right sources and avoid sensationalism.

Also, the Coordinator JSDI, Mr. Michael Bissong noted that the aim of the workshop was to educate journalists as carrier of information in order for them to feed the public the right information about GMOs thereby correcting the misconception in the public domain. He stressed that presently there is hunger and poverty which has now become a global problem.

WEDNESDAY, SEPTEMBER 7, 2016, • T H I S D AY

25

BUSINESSWORLD

EQUITIES WATCH

UBA Declares 20 kobo Interim Dividend After Marginal Growth Despite the marginal rise in its half-year profits, the United Bank for Africa Plc has declared an interim dividend of 20 kobo per share for the period ended June 30, 2016, writes Goddy Egene As expected, the challenging operating environment impacted performances of most companies for the half year (H1) ended June 30, 2016.

The banks were not left out as some of them recorded lower profits while some ended the period with lower bottom-line. Those that recorded decline in their profits included First Bank, Zenith, Fidelity and Sterling.

However, Guaranty Trust Bank and Access Bank were among the few banks that posted impressive results in spite of the headwinds in the operating environment.

Specifically, Access Bank’s profit before tax (PBT) stood at N50billion, showing 28 per cent increase above the N39billion in 2015. The bank also grew profit after tax (PAT) to N39.5billion, from N31.3billion in 2015.

Guaranty Trust Bank also reported N91.38 billion half-year pre-tax profit, up N63.11billion declared in 2015.

Accordingly, the two banks recommended interim dividend of 25 kobo per share for shareholders.

United Bank for Africa (UBA) Plc was the last bank to make its H1 financials available, having announced a delay in releasing the results.

According to its audited accounts, UBA posted a PBT of N40.270 billion, up fromN39.621 billion in 2015 and PAT of N32.621 billion, compared with N31.999 billion in 2015.

Half year results A closer look at the results showed impressive growth in several key financial indicators. This perhaps explains why the bank’s share price has outperformed the stock market so far this year.

UBA’s share price is already up by 31 per cent this year and consensus forecasts are that the share price is still under priced at its current price of N4.32 as at 30 August, 2016.

Though earnings were flat but the bank recorded a significant growth in total assets, rising 20 per cent to N3.3 trillion, crossing the three trillion mark. The bank’s net loan position rose 29 per cent to N1.29 trillion partially boosted by the depreciation in the value of the Naira. UBA also recorded a significant 16 per cent growth in deposits to N2.41 trillion already surpassing the 15 per cent target growth in deposits set at the beginning of the year. Another positive for UBA was a drop in cost to income ratio to 63 per cent in 2016, compared to 64 per cent in same period of 2015. This implies that the bank leveraged economics of scale to moderate operating expenses, as it achieved a 90 basis point decline in cost-to-income ratio in an inflationary environment. Notwithstanding the external pressure of a 42 per cent depreciation of the Naira and headline inflation rate of 16.5 per cent in the period, the bank kept operating cost in check, declining 1.0 per cent year-on-year during the period.

Also, the bank maintained its strong asset quality, with non-performing loans ratio at 2.4 per cent, well below the CBN set limit of 5.0 per cent for the banking industry.

For one of largest lenders in the country, this impressive performance is an evidence of the bank’s diversified business model as well as resilience, particularly when put in the perspective of the challenging macroeconomic environment.

Assessing the impact of Naira devaluation of UBA’s earnings, it is noteworthy that in addition to the N40 billion profit, the bank recorded N56.1 billion in other comprehensive income, made up of N32.4 billion foreign currency translation difference from foreign operations and N23.7 billion fair value change on available for sale investments.

These other comprehensive income are unrealised profits and thus do not form a part of the N40 billion profit reported in the bank’s income statement, in line with the International Financial Reporting Standards (IFRS).

This interim dividend is sustenance of the interim dividend payment initiated last year, when the Bank also paid N0.20 interim dividend, before a final dividend declaration of N0.40 per share, following the audit of the 2015 full

Uzoka

year results. The interim dividend translates to a 4.5 per cent dividend yield, based on the

closing price of N4.45 as at the close of market on Monday, 29 August, 2016.

UBA PLC FINANCIAL SUMMARY 300 250 200

JUNE JUNE 2015 2016 N165.6bn N165.7bn

150 100 95 90 85 80 75

JUNE JUNE 2015 2016 N64.1bn N64.4bn

70 65 60 55 50 45

JUNE 2016 N36.9bn JUNE 2015 N30.3bn

40 35

JUNE 2016 N40.3bn

JUNE 2015 N39bn

JUNE JUNE 2016 2015 N32.6bn N319bn

30 25 20 15 10

GROSS EARNINGS

NET INTEREST INCOME

FEE & COMMISSION INCOME

PROFIT BEFORE TAX

PROFIT AFTER TAX

Management’s comments Commenting on the results, the Group Managing Director/CEO, UBA Plc, Kennedy Uzoka said they were achieved amidst waning economic fundamentals which makes it even more impressive.

“We delivered profit in excess of N40 billion and grew balance sheet by 20 per cent, with our on-balance sheet total assets crossing the N3 trillion mark. Even as Naira depreciation and inflationary pressure increased the cost of doing business in Nigeria, we leveraged our economies of scale, enhanced operational efficiency and Group shared service structure to moderate our cost-to-income ratio by 90bps.”

According to him, UBA’s performance reflects its increased share of the market, even as broad economic activities slowed down in the period, as evident in the GDP contraction in the first quarter and general consensus that the economy may have further contracted in the second quarter of the year. Uzoka assured that “UBA will sustain its culture of keeping a healthy balance sheet, with strong liquidity and capitalisation, as reflected in the liquidity and BASEL II capital adequacy ratios of 45 per cent and 18 per cent respectively.”

He also promised that “notwithstanding the current slowdown in economic activities, we see bright spots ahead, especially as we see strong prospect to grow market share across all chosen economies, through our enhanced dedication to customer service.”

Explaining the major drivers behind UBA’s performance, the Group Chief Financial Officer (GCFO), Mr. Ugo Nwaghodoh said: “This impressive performance was driven by increased transaction volume, balance sheet growth and efficiency as well as a disciplined management of operating cost. We achieved a 60bps moderation in funding cost, despite the tighter interest rate environment, as we continue to improve our deposit mix, towards low cost savings and current accounts.”

Nwaghodoh said that UBA’s performance in the period endorses the bank’s resilient ability to profitably grow its business from sustainable core banking offerings.

“Notwithstanding the challenging macro and regulatory environment, we achieved a 17.3 per cent return on average equity in the period even as the total equity of the bank grew 23 per cent to N407 billion.

He explained that the bank’s African subsidiaries continue to record significant milestones in their performance, as two erstwhile loss making subsidiaries are now profitable and having positive contribution to the bank’s bottom line.

“Overall, African subsidiaries, contributed a quarter of the Group’s profit, with an even stronger outlook, as we deepen our penetration of the respective markets,” he added.”

Some milestones UBA also achieved some significant milestones in the period that further underline its strong performance in the period. For instance, foremost Nigeria rating agency, Agusto & Co. upgraded the credit rating of the bank, from “A+” to Aa-“, reflecting the banks improved capitalisation, strong liquidity and asset quality as well as enhanced profitability of the Group.

On the business front, the African Development Bank (AfDB) approved $150 million line of credit for UBA, strengthening the bank’s commitment to infrastructure and SME finance, including women-owned enterprises in Nigeria and the broader African continent. The U.S. Export-Import Bank also signed a $100 million MoU with the bank to expand trade between U.S. and Africa.

UBA Plc is one of Africa’s leading banking groups with operations in 19 African countries and offices in three global financial centers: London, Paris and New York.

From a single country operation in Nigeria, Africa’s largest economy, UBA has evolved into a pan-African provider of banking and related financial services, to more than 11 million customers, through over 1000 business offices and diverse channels globally.

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ANALYSIS

Daunting Times for Quoted Oil Firms

Goddy Egene writes that low oil prices, security risks, huge receivables from government and rising inflation have combined to make it difficult for Nigeria’s quoted oil companies to deliver the usual mouthwatering results

Oil rig

The current economic challenges is biting hard on all operators in the economy. However, one sector that is suffering seriously is the oil and gas. Before now, the sector was the darling of all, the government, investors and other stakeholders. For many years, the sector has been the mainstay of the Nigerian economy, providing the over 80 per cent federal government’s revenue.

But the situation is changing very fast following the decline in oil prices at the international market. Against this development, the government has intensified efforts to diversify the economy and look beyond oil as the major source of revenue. Oil companies have also been hit hard.

Their revenues are not only falling but the situation is worsened by the foreign exchange crisis that has made importation of products by marketing firms, a tough business.

Recently, PricewaterhouseCoopers (PwC), a global professional services provider, in a report highlighted some of the challenges facing oil and gas industry in Africa.

PwC’s Africa Oil and Gas Advisory Leader, Chris Bredenhann, said: “The complexities and challenges facing Africa’s oil and gas industry have become daunting. As uncertain regulatory frameworks, taxation requirements and corruption continue to rank at the top of industry’s challenges in Africa, it is also high time that governments made significant changes.”

According to him, oil companies identified the price of oil and natural gas as the most significant factor that would affect their businesses over the next three years. Respondents to the PwC survey expect oil prices to reach $52 by the end of 2016, $60 by the end of 2017, and $69 by the end of 2018.

“As a result of these developments, investor confidence remains low, although there has been some recovery in oil prices in the international market. PwC said oil market fundamentals are still down and a significant recovery does not seem to be on the horizon. This has led operators to defer FIDs (final investment decisions) on

over $300 billion of projects. Globally, mergers & acquisitions (M&A) activity has also dipped and it is expected that this trend will continue,” PWC said.

Expectedly, oil and gas companies listed on the Nigerian Stock Exchange (NSE) have been impacted negatively by these challenges. Forte Oil Plc, Mobil Oil Nigeria Plc, MRS Oil Nigeria Plc, Oando Plc, Seplat Petroleum Development Company Plc and Total Nigeria Plc are the major oil firms listed on the NSE. A review of their financial performances showed a volatile trend, reflecting the economic headwinds. However, the two firms that have major stakes in the upstream sector of the industry, Oando Plc and Seplat are worst hit.

Oando Plc Oando Plc is regarded as the leading indigenous integrated energy company and having its shares listed on the NSE and Johannesburg Securities Exchange (JSE).

The company, which recorded a revenue of N650 billion in 2012, experienced a decline in 2013 to N449 billion, and further down to N92.9 billion in 2014. However, revenue improved to N161 billion in 2015. Bottom-line followed similar trend, with profit of N10.7 billion in 2012. It fell to N1.0 billion in 2013 before slipping into loss of N145 billion in 2014. The loss was reduced to N49.6 billion in 2015. One of the major factors that affected Oando Plc’s performance was its huge borrowings used to finance its expansion drive and importation of petroleum products.

While the expansion was well intended, the challenging economic situation domestically and internationally affected its plans. As result, the cost of those funds maintained an upward trend. For instance, finance cost that stood at N10.2 billion in 2012, rose to N15 billion in 2013, N36.5 billion in 2014 and N47.5 billion in 2015.

Although the company is making efforts to reverse the negative bottom-line, that efforts are expected to yield the desired results at the end of the current financial year.

The company had ended the period to June 30, 2015 with a loss. But the Group Chief Executive of Oando Plc, Mr. Wale Tinubu assured stakeholders that the resolve to return to profitability at the end of 2016 remains intact.

Oando Plc reported a revenue of N212 billion for the H1 2016, showing an increase of 18 per cent above N180 billion recorded in the corresponding period of 2015. Gross profit decreased by 49 per cent from N37.1 billion in 2015 to N19 billion in 2016. However, the company recorded one-off unrealised foreign exchange loss of N28.6 billion from dollar denominated liabilities as a result of currency devaluation. Consequently, it ended the H1 with a loss after tax of N27 billion in 2016, as against a loss of N35 billion in H1 of 2015.

Commenting H1 results, Group Chief Executive, Oando Plc, Mr. Wale Tinubu, said: “The first half of the year has revealed how challenging the oil & gas environment is in Nigeria, having experienced a 25 per cent decline in production volumes arising from the increased disruptions from militant activities, we however benefit from the implementation of the oil price hedge, which has helped to calm the effects of the disruption of production activities.” According to him, now that the dollar liquidity position in the country has improved, “we have converted 60 per cent of our dollar denominated obligations to naira, while restructuring our debt through the N108 Billion medium term note, thus managing any future currency volatility. We reiterate our forward looking business model of a focused upstream and export trading businesses, which will drive profitability through consistent dollar earnings.”

He noted that as part of plans to return the company to profitability by year-end 2016, Oando is in the concluding phase of its five-pronged strategic group initiatives, 67 per cent of its non-producing asset disposals and 50 per cent of refinancing target have been concluded.

The company successfully restructured its debt through a N108 billion Medium Term Note with lower capital costs circa 15 per cent and

a renewed five year tenor in the first quarter of 2016 as well as the full divestment of its upstream services business, reducing the group’s debt profile by 32 per cent.

Seplat Petroleum Development Company Just like Oando Plc, Seplat, which is an independent indigenous Nigerian upstream exploration and production firm, suffered a loss at the end H1 of 2016. The company was listed on the NSE and London Stock Exchange (LSE) in 2014. The first year of its listing, Seplat posted a revenue of $775 million, which fell to $570 million in 2015. Profit before tax (PBT) fell from $252 million in 2014 to $87 million in 2015, while profit after tax fell from $52 million to $65 million. The company recorded huge finance costs, which rose from $49 million in 2014 to $83 million in 2015.

In H1 2016, Seplat recorded a revenue of $143 million, which is lower than $243 million in the corresponding period of 2015. The company ended the period with a colossal loss of $63 million, as against a profit of $34 million in 2015.

Speaking on the H1 results, the Chief Executive Officer of Seplat, Mr. Austin Avuru said: “The shut-in and suspension of oil exports at the Forcados terminal since mid-February means we have faced significant challenges in the first half of the year. However, our underlying fundamentals remain strong and we continue to invest to grow our gas business at a rapid rate.”

He explained that the first half results have been heavily impacted by events outside of the company’s control at third party operated infrastructure.

“We expect the second half to see a resumption of exports via the Forcados terminal and concurrently a regular offtake schedule established via the Warri refinery jetty, which in turn will also help ensure gas sales into the domestic market are deconstrained. Meanwhile, Phase II expansion of the Oben gas processing plant remains on track and is set to increase

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our gross processing capacity from the current 300MMscfd to a minimum of 525MMscfd by year end. Although 2016 to date has proven challenging, we remain committed to our long-term strategy of maximising production and cash flows from our operated blocks,” he added.

Forte Oil Plc Forte Oil Plc has performed relatively better over the years due to its less exposure to the upstream sector, and recent diversification into power generation.

Revenue that was N90.1 billion in 2012, improved to N128 billion in 2013. It rose further to N170 billion in 2014 but fell to N124 billion in 2015. The company attributed the 27 per cent decline in 2015 to reduction in pump price for most petroleum products largely driven by the incessant decline in crude oil prices. In addition, the company also decided to manage its foreign exchange and subsidy exposure by reducing the importation of petroleum products for the year 2015.

PBT that was N1.2 billion in 2012 jumped to N6.5 billion in 2013, stabled at N6 billion in 2014 before improving to N7.0 billion in 2015.

In same trend, PAT rose from N1 billion in 2012 to N5 billion in 2013, declined to N4.4 billion in 2014 before rising to N5.7 billion in 2015.

Finance cost took significant toll on the bottom-line of Forte Oil Plc during the review period. It paid N1.721 billion as finance cost in 2012, which fell to N254 million. However, it jumped to N2.1 billion in 2014 and N1.67 billion in 2015.

Speaking on the performance of the company for 2015, Group Chief Executive Officer, Mr. Akin Akinfemiwa, said; “This result in a testing economic climate which we operate, is the reward from the investments made by the company in its core business and its people.

It also clearly demonstrates the resilience of our business. Furthermore, our vision to diversify into power generation has proven to be very successful not just in the near term but in the long term and we see tremendous growth opportunities in that space.”

The company started 2016 on positive note, posting a revenue of N84 billion for the H1 of 2016, up from N79 billion in the corresponding period of 2015. However, PAT fell from N2.5 billion to N2.2 billion, driven by higher income tax payment.

Akinfemiwa said gross margins increased by 48 per cent to N12.3 billion, from N8.32 billion largely due to aggressive drive and focus on higher margin products, efficient product sourcing and sales through profitable channels.

He explained that the power business contributed five per cent to revenue of the group and 15 per cent to PBT as a result of low generation due to on-going overhaul project and gas supply constraints due to the security challenges in the Niger delta region.

Looking ahead, the Forte Oil boss said the company would focus on high margin products,

ANALYSIS

fully exploit LPG business particularly, LPG retailing, bottle refilling, optimize and expand Geregu Power Plant Asset, diversify into upstream space through profitable acquisition of upstream assets and uptmising working capital structure.

MRS Oil Nigeria Plc A look at MRS Oil Nigeria Plc showed that revenue was N79.7 billion in 2012. It improved to N87.7 billion in 2013 and N92 billion in 2014.

The revenue fell to N87 billion in 2015. PBT was N378 million in 2012, jumped to N1.407 billion in 2013, fell to N1.28 billion in 2014 before rising to N1.46 billion in 2015. Like the trend in the industry, MRS Oil Nigeria Plc expended significant amount on finance cost as the companies have to source for funds to import products.

It spent N1.35 billion as finance cost in 2012, N785 million in 2013, N1.428 billion in 2014 and N1.88 billion in 2015. Despite the challenging operating environment, the company has raised investors’ hope for a better performance in the current year having begun the year with improved results in H1. Its revenue stood at N53.8 billion 2016, up from N36.9 billion in the corresponding period in 2015. PBT rose from N64 million to N1.53 billion, while PAT jumped to N909 million, from N37.5 million in 2015.

Indications for the improved H1 performance first came in the first quarter (Q1) ended March 31, 2016 when it posted a profit of N363 million, compared with loss of N919 million in 2015.

Assessing the Q1 results, analysts at ARM Research, said the Q1 16 PBT and PAT beat their expectations of N163 million and N101 million, respectively, with deviation primarily due to higher than expected product sales, strong other operating income and benign finance charges.

“Q1 16 sales rose 17.5 per cent to N25 billion—9 per cent ahead of our estimate—on the back of strong premium motor spirit (PMS) sales of N21 billion (+25 per cent) which offset decline in Automotive Gas Oil Lubricants (AGO)-6 per cent) and Aviation Turbine Kerosene ATK (-38 per cent ). The upswing in PMS receipts reflects solid volume growth of 242 million litres (+26 per cent) and, perhaps, affirms our view that major marketers were less impacted by petroleum products shortage experienced in the latter part of period. In particular, despite forex shortage, MRS’ import finance facilities remained elevated at N15 billion (FY 15: N16 billion) suggesting the company utilised most of its 30,000 metric tonnes Q1 16 PMS allocation,” they said.

However, they said MRS Oil’s operational efficiency remained below industry average, noting that core operating profit of N240 million (-4 per cent YoY) which is in line with our estimates, implies related margin of 1.0 per cent, 250bps below industry average.

The analysts noted that despite the stronger than expected Q1 16, they remained cautious on MRS Oil’s outlook.

“Our cautious stance is hinged on somewhat blurred industry outlook, but more pertinently, MRS Oil’s volatile and below peer operational efficiency. On the industry, the abolition of fixed retail pricing for PMS for price modulation—which allows quarterly adjustment of PMS prices in line with changes in input costs—has not gone as planned as petrol prices remain fixed despite the rebound in oil prices,” they said.

Mobil Oil Nigeria Plc Mobil Oil Nigeria, which plays majorly in the downstream sector of the industry, posted a revenue of N81 billion in 2012. However, it has witnessed a decline in revenue in 2013, falling to N78 billion. It ended 2014 with a revenue of N79 billion in 2014 and N64 billion in 2015.

PBT that was N4.1 billion in 2012, improved to N5.1 billion in 2013, N8.4 billion in 2014 and fell to N6.9 billion in 2015, while PAT rose from N2.9 billion in 2012 to N3.5 billion in 2013, N6.3 billion in 2014 but declined to N4.8 billion in 2015.

Although the company recorded a decline in 2015, its performance for H1 2016 has shown some improvement, beating analysts’ estimates.

For instance, analysts at ARM Research said the Q2 16 result where earnings of N2.6bn (+81.1 per cent) came in ahead of their estimates of N1.6bn. According to them, strong earnings reflect sharp recovery (+80 per cent) in revenue to N27 billion which beat their estimate by 31.8 per cent and knocked-off the negative surprise in input cost and the opex line (31 per cent and six per cent ahead of their estimate).

“We believe strong sales reflect the May 2016 hike in PMS prices (+67.6 per cent to N145) as well as robust volumes growth. On the latter, Mobil benefited from the inability of the smaller independent marketers to keep outlets wet due to forex shortage. Unlike the smaller marketers, Mobil, like other majors marketers, is able to access forex via a special window at (N285/$1) and thus enjoyed ample product supply over the period,” they said.

The analysts said the going forward, despite performance exceeding they expectation, they remain conservative on Mobil profitability in FY 16E relative to its strong H1 16. “Consequently, we retain our earnings expectation of N18.75 per share (+38.1 per cent). Gross, EBIT and PBT margin are forecast to expand to 17.8 per cent (+70bps), 12.3 per cent (+140bps) and 12.3 per cent (+154bps ),” they said.

Total Nigeria Plc The performance of Total Nigeria Plc has followed industry trend in the review years.

Revenue was N217 billion in 2012, improved to N238 billion in 2013, and N241 billion. But fell to N208 billion in 2015. PBT that stood at N7.1 billion in 2012, improved to N8.1 billion in 2013. Fell to N6.8 billion in 2014 and further down to N6.5 billion in 2015. PAT trended in a similar pattern, beginning with N4.7 billion in 2012, rose to N5.3 billion in 2013 but fell to N4.0 billion in 2015. Finance cost was N1.57

billion in 2012, N1.98 billion in 2013, N2.6 billion in 2014 and N1.79 billion in 2015.

For H1 2016, Total Nigeria posted revenue of N145 billion, up from N112 billon in 2015.

PAT jumped to N8.9 billion, from N2.4 billion in the corresponding period of 2015.

Commenting on the Q2 performance, FBN Quest said access to forex for imports and an inventory load-up of relatively cheap stock were the primary drivers.

According to them, in Q2, while sales grew 65 per cent y/y, PBT and PAT were both up 169 per cent and 211 per cent.

“Sales from service stations (retail), which accounted for around 70 per cent of the group’s topline, were up by 69 per cent to N60.3 billion.

Additionally, sales for the Aviation and General Trade segments were also up 90 per cent and 36 per cent respectively to N11.7 billion and N13.6 billion respectively. A gross margin expansion of 445bp to 16.3 per cent and a 75 per cent y/y reduction in net finance charges led to the PBT growth of 302 per cent. Sequentially, sales, PBT and PAT were all up 44 per cent, 137 per cent and 116 per cent respectively. Compared with our estimates, while sales beat by 69 per cent, PBT was ahead significantly,” FBN Quest said.

Conoil Plc Unlike other oil firms, Conoil Plc is yet to report its 2015 financial performance. However, a look at the financial results of the company showed that it recorded a revenue of N149 billion in 2012, which fell to N159billion in 2013. The revenue fell further to N128 billion in 2012.

Profit before tax rose from N1.148 billion in 2012 to N4.575 billion in 2013 but dipped to N1.532 billion in 2014. Profit after tax followed same trend. It improved from N715 million in 2012 to N3.1 billion in 2013 but fell to N834 million in 2014.

The last results filed by Conoil Plc was for the nine months ended September 30, 2015. The results showed a decline of 42 per cent revenue to N60 billion, from N104 billion in the corresponding period of 2014.

PBT and PAT declined by 16 per cent from N2.098 billion to N1.76 billion and N1.427 billion to N1.196 billion in 2014 to 2015 respectively.

The company explained that its performance was impacted by unprecedented challenges arising from unpaid government debts, tight credit conditions and weak naira among several other issues.

“We returned a good performance notwithstanding the difficult operating environment due primarily to the efficient product procurement process put in place in the second half of the year. This efficiency translated to high profit margin on product sales. The profit for the period would have been much better save for the high finance cost, consequent upon the long outstanding large receivable from the Petroleum Support Fund,” Conoil said

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ANALYSIS

Unhealthy Competition and Financial System Stability Regulators must take steps to halt the unethical practice of de-marketing which is detrimental to the growth of the banking sector, writes Obinna Chima

The situation in the economy and the desire for a larger share of the market is making some operators in the banking sector to take steps to lure customers into institutions through any means.

The move has in recent times resulted in demarketing of competitors in the industry, all in the quest to woo customers.

Indeed, competition is a critical driver of performance and innovation in the banking industry. It benefits everyone by enabling customers to choose from an array of excellent products at affordable prices. Competition also encourages the adoption of innovation as companies evolve and new ideas flourish in the marketplace.

But de-marketing, which is a term used to describe competitors trying to pull down one another is not good for any industry. Unfortunately, this strategy is gradually resurfacing in the banking sector as damaging text messages and e-mails were recently sent round alleging that some banks were distressed. In fact, the text message had warned customers to withdraw their deposits from certain banks, saying the financial institutions were having liquidity problems. The same situation was experienced at the height of the fierce competition that took place towards the banking consolidation exercise between 2005 and 2006. The practice of de-marketing then was so widespread and threatening that it became a subject of a hot exchange in one of the Bankers Committee meeting in 2006. Realising the danger of the practice to the health of the industry and the need to decisively combat it, the CBN had issued a circular dated April 2012, 2006. The circular was signed by the Director of Banking Supervision, CBN, Mr. Ignatius Imala.

Then, the banking sector regulator had stated: “When the banking industry had 89 banks, some of the weak institutions made efforts to de-market others by circulating false distress lists and negative information all in the name of competition. They were then warned at the Bankers Committee followed by CBN clarification to the public.

“With the emergence of 25 strong banks, post consolidation and the existing large terrain for all to professionally and profitably do normal banking business for the growth of the economy, such

practice is not only unacceptable but condemnable.

“Information reaching the CBN indicates that the unethical and unprofessional practice of spreading false stories to de-market other banks has again started to emerge in the system. This shows that that the industry still harbours some operators/officers who still conduct themselves unprofessionally.”

Thus, the CBN hereby warned the staff of all banks to desist forthwith from this condemnable and unethical practice, while bank CEOs were advised to also address all their staffs to heed the warning.

However, in 2008 when the banking sector regulator noticed that unethical practice had resurfaced in the industry again, it issued another circular on the subject, saying that the“this development, which constitutes a threat to the safety and soundness of the banking system, is unprofessional, unethical and unacceptable.”

“Banks and their staff are by this circular reminded that the responsibility for ensuring the safety and soundness of the banking system is a collective one for all stakeholders. Banks are therefore advised to caution their staff on this practice as henceforth, any staff of a bank found to be involved in such an act will be summarily dismissed and blacklisted.

“Also, if another staff of the same bank is involved in such a practice, the institution will face severe sanctions including but not limited to a monetary fine of N10 million. Appropriate channel will be opened by the CBN for the report of such unwholesome practice by banks’ customers and the general public,” it had added.

This warning succeeded in purging the industry of cases of de-marketing however only for another six years.

Return of De-marketing Recent developments show a re-emergence of de-marketing tactics in the banking industry since July 2016 when the CBN announced the resignation of the board of Skye Bank, and the appointment of a new one.

But prior to the announcement, the social media was awash with rumours that the bank was distressed, and that the CBN had taken over the bank.

Even though the CBN Governor, Mr. Godwin Emefiele while announcing the board changes at Skye Bank emphatically stated that the bank and no

other commercial bank in the country was distressed, to some, the announcement by the regulator was a confirmation of the rumours making the rounds.

Unfortunately, the de-marketing assault was not limited to Skye Bank as some operators and members of the public decided to exploit the situation to spread concocted false and damaging information against other banks in their bid destroy competition in the industry and kill firms perceived as threat. Some of these assaults were also directed at Heritage Bank, also, a fast-rising bank. According to the 2015 financial statement of Heritage Bank released April this year; the bank recorded gross earnings of N24.2 billion and posted a profit after tax of N1.1 billion. This was made possible via customers of deposit of N312 billion while the banks also gave out N175 billion loans during the year. Also, in March the CBN appointed Heritage Bank as partner for the pilot phase for its N3billion Youth Entrepreneurship Development Programme.

Yet there were also barrage of de-marketing assaults against the bank to convey wrong impression about its financial status. The de-marketers of Heritage Bank have sought to undermine it with two set of maliciously false information.

First, they sought to undermine the image of the bank with a political colouration, by labelling it a bank owned by the embattled Senate President, Dr. Bukola Saraki. “Heritage Bank is a Saraki bank”, they claimed. Yet, even at inception in 2013, Saraki’s family had less than 10 per cent in Heritage Bank.

But now the ownership is more diluted due to additional capital from new investors.

In addition, some of the de-marketers sought to tie the bank to the former chairman of Skye Bank, Mr. Tunde Ayeni. They claimed that Ayeni is a majority shareholder, that he borrowed so much money from the bank, as a result of which the CBN will soon ‘take over’ the bank as it did Skye Bank. The main cause of this wave of demarketing on Heritage Bank could be the threat it poses since its entrance into the league of tier 2 banks in the country. While the industry was still grappling with the fact of its emergence in the industry, Heritage Bank made a daring bid for the former Enterprise Bank. In addition to wining the bid, the bank made the payment for the

acquisition in record time, while the management successfully integrated the two banks without any crisis or rancour.

Health of Banks The CBN has also reiterated that no bank in the country is in distress, just as it reassured bank customers that their deposits are safe.

The acting Director, Corporate Communications, CBN, Mr. Isaac Okorafor, said the attention of the central bank was drawn to the malicious rumours and unfounded speculations that some banks in the country might have gone or be going into distress.

To this end, the CBN restated: “In the strongest terms that these rumours and speculations are untrue and do not reflect the actual health of the individual banks and, indeed, the entire banking industry.”

It, however, pointed out that no bank in the industry is in distress.

“Therefore, the CBN would like to request the public to ignore speculations or rumours to the contrary as they could only be the handiwork of mischief makers who do not mean well for the Nigerian banking system and its economy. As the regulator of the industry, the CBN hereby reassures the banking and general public that their deposits remain safe in any Nigerian bank. There is therefore no need for panic withdrawals from any bank. “Going by both the CBN’s Examination Reports as well as analysis from market watchers, International Credit Rating Agencies, and Development Finance Institutions, the Nigerian banking industry remains strong in spite of the global economic challenges emanating from the collapse of global commodity prices. We therefore urge the banking public to remain calm and go about their normal businesses without panic. It is important that we do not create problems when none exists,” it added. Therefore, there is need for the central bank to take urgent step to arrest harmful marketing strategy because of its likely negative consequence on the industry.

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ANALYSIS

Opening the International Money Transfer Space Obinna Chima reckons that opening the international money transfer business space with the registration of more operators, will lead to increase in foreign exchange inflows and enhance service delivery in the forex market

CBN Governor, Godwin Emefiele

The foreign exchange market has in recent times been facing challenges. The naira has lost so much of its value on the parallel market. Also, the gap between the official exchange rate and the parallel market has continued to widen.

The situation was a result of decline of the price of Nigeria’s major source of foreign exchange earner, crude oil, at the international market.

In trying to stem the tide, the Central Bank of Nigeria (CBN) had adopted measures to reduce the rate of foreign exchange outflow from the external reserves.

From the exemption of 41 items from the list of eligible items for foreign exchange, the reduction of the withdrawal limits on payment cards outside the country, among others, the central bank has shown its determination to stabilise the exchange rate.

Experts have however suggested that the solution to the perennial crisis in the foreign exchange market is to enhance inflows through increased export earnings, foreign direct investments and diaspora inflows.

Of all these three sources, diaspora inflows appear the most readily available source the country can harness to solve the macro-economic challenges posed by foreign exchange shortfall.

This is because remittances are the second largest source of foreign exchange in Nigeria after the oil sector.

In 2015, an estimated $21billion flowed into the country, including $5.7billion sent from the United States and about $3.7billion from the United Kingdom.

For 2016, the World Bank estimates that nearly $34billion in remittances will flow into sub-Saharan Africa from the more than 30 million Africans living outside their countries of origin. Nearly two-thirds of this expected inflow in 2016, according to World Bank data, will come into Nigeria.

Perhaps it is this huge significance of the money transfer sector to the nation’s economic life that informed the recent efforts by CBN to ostensibly clean the sector. In a recent policy pronouncement, CBN advised citizens to “beware of the unwholesome activities of some unlicensed International Money Transfer Operators (IMTOs)”

plying their trade in the country.

Citing “the greater economic good of Nigeria,” the Central Bank stated that it would“not condone any attempt aimed at undermining the country’s foreign exchange regime.”

Consequently, the regulator first revoked the licences of all but three money transfer companies that had been doing money transfer business in the country, before later approving a second batch of eleven other new international money transfer operators to bring the total number of approved operators for now to fourteen.

The three IMTOs that first passed the CBN litmus test were Western Union, MoneyGram and RIA. The second batch of newly registered eleven operators included Trans-East Remittance LLC; WorldRemit Limited; UAE Exchange Centre LLC; Home Send S.C.R.L; Cashpoint Limited; Weblink International Limited; DT&T Corporation Limited; Wari Limited; Small World Financial Services Group Limited; Fiem Group LLC and CP Express Limited.

According to the Director of Corporate Communications, Mr Isaac Okorafor, the move was part of “efforts to liberalise the foreign exchange market, ensure liquidity and make foreign exchange more readily available to low end users.”

He added: “The CBN also wishes to reiterate its commitment to providing an enabling environment for international money transfer services in Nigeria.”

Taming Fraudsters In what looks like a mission to protect Nigerians against fraud and other negative antics of many money transfer organisations in the country undermining the CBN’s bid to ensure liquidity and increase the availability of dollars in the system, central bank is insisting that the newly licenced operators physically set up offices in the country.

Of the first three approved IMTOs in the country, MoneyGram, for example has Lagos as its operational hub for Anglophone West Africa while both Western Union and MoneyGram have strong partnership with almost all deposit banks in addition to a large pool of agents across

the country. It is also a fact that operationally, the first three IMTOs control over 70 per cent of the market.

Given the fraud-prone nature of the money transfer business, the need for operators to have traceable presence in the country cannot be over-emphasised.

Pricing of Money Transfer Services Of significance are also the issues relating to pricing of transactions. Pricing can vary from market to market as fees reflect the many benefits offered by the service sought.

There are many factors that go into pricing transactions. These include how the transactions are processed (e.g. telephone or internet), the particular MTO’s banking relationships worldwide, fees of other competing products, compliance and required time to transfer (convenience).

The bottom-line however is the need to offer customers value for money in their transactions.

A study of rates and fees across several markets had shown that Nigeria is well within range.

For example, as indicated on the company’s website, the MoneyGram global average fee including foreign exchange, of less than five per cent of the face value of the money transferred is substantially lower than the average fee for an international bank transfer and is very competitive in the fund transfer industry.

This fee is lower than the World Bank and G8 goals to provide affordable remittance services to underdeveloped parts of the world. Of additional benefit to the country however is the fact that local agents retain approximately half of the fee paid by the consumer, which in turn is re-invested in local businesses.

Anti-money Laundering Fight The need to curb fraud and terrorism financing appear to be the most pressing justification for the effective regulation and control of the fund transfer business. This is perhaps more so as countries continue to grapple with growing influence of terrorism and other global crimes.

Experts opined that with adequate Anti-Money Laundering and Counter-Terrorism Act (AML/ CFT) policies that serve as a compliance guide,

it is possible to reduce fraud risk along with money laundering and terrorism financing.

Stronger AML/CFT systems have been identified as being able to help improve the ability to trace and monitor transactions, improve financial inclusion, reduce remittance costs and reduce the use of cash transactions that are inherently risky in nature. This provides strong evidence that there is an overlap between AML/CFT and consumer protection.

In its ‘Guidelines on International Money Transfer Services in Nigeria’, CBN states that “All money transfer operators in Nigeria shall comply with the provisions of the Central Bank of Nigeria’s ‘Anti-Money Laundering and Combating the Financing of Terrorism in Banks and Other Financial Institutions Regulations 2013’ and all other applicable laws and regulations”.

The major IMTOs in the country have committed enormous resources to fraud prevention. For instance, Ria Money Transfer, with a worldwide agent network of more than 280,000 locations in more than 145 countries, prides itself in taking costumer protection seriously through its investments in the highest level of security and protection against fraud.

As a company incorporated in the United States, MoneyGram, the world’s second largest IMTOs recently restated its commitment to continue to comply with requirements set

by OFAC of the Dept of Treasury, U.S.A. OFAC maintains a list called the Specially Designated Nationals and Blocked Entities List (“SDN List”).

Therefore, it is a rule that MoneyGram’s software should review and check all names listed on money transfer transactions against the SDN List and any transaction with a name that matches to a prohibited person or entity must be blocked and reported to OFAC to alert agents of transactions from known criminals or suspicious customers.

For customer protection, the network also has in place a number of security checks to protect customers as each transaction has a unique reference number, which is communicated to the sender. Agents are required to authenticate both senders and receivers, and locally recognized identification documents must be produced when sending or receiving a transaction. As an added security measure, each transaction carries a “test” question – the sender has the opportunity to ask a question only the receiver will know the answer to and should MoneyGram become suspicious regarding a transaction, it is suspended immediately.

And specifically for Nigeria, MoneyGram has deployed a solution that allows transactions to be locked into specific locations thereby cutting teller fraud significantly Success in money transfer services relies on convenience, safety, reliability and all of these at an affordable price. While it is true that the money transfer opportunity in Nigeria and with Nigerians in Diaspora is immense, it is imperative for the CBN and the licenced IMTOs to continue to fine-tune transaction processes to help consumers find more value in the sector.

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WEDNESDAY, SEPTEMBER 7, 2016, • T H I S D AY

BUSINESSWORLD SA Insurance Posts N268m Profit in Q2 2016 Standard Alliance Insurance Plc, one of the general underwriting companies, has announced a profit before tax of N268million from a gross premium of N1.296billion written in its operations in the second quarter ended June 30, 2016.

According to the unaudited results recently released to the Nigerian Stock Exchange, by the company, the figure represented a 55 percent decline over the N606million realised from a gross premium of N1.228billion written during the corresponding period in 2015.

The chief executive officer of the company, Mr. Bode Akinboye, said the development was as a result of the impact of the new foreign exchange regime, adding that the new regime accounted for the significant change of the profit before tax, not only from the first quarter performance but also in comparison with the same period of last year.

He explained that the unrealised foreign exchange loss of N443million arose from the need to revalue the company’s dollar obligation in line with the material devaluation of the naira against the US dollar, noting that without this, the company would have been looking at a profit before tax of well over N700million.”

He also said that the unaudited results of the company’s account showed that the group’s gross revenues amounted to N2.671billion as of June 30,2016, indicating a rise by 6 percent compared to N2.52billion during the corresponding period in 2015.

Total assets of the company stood at N12.317billion, indicating an increase of 5 percent over the N11.787billion position as at December 2015 while shareholders’ fund rose by 3 percent to N4.93billion as at June 30, 2016 solely on the back of internal capital generation.

According to Akinboye, these results showed some remarkable recovery from the prior period accounts where the company posted a positive underwriting profit but reported loss as a result of exceptional charges for diminution of investments.”

He attributed the performance to the fundamentals of the company which he said remained strong in its area of core business, noting that because of the positive feat being achieved under the new management and board, the company has continued to win more clients.

The SA insurance boss explained further that the company, like others in the financial services sector, has been operating under a debilitating investment climate, noting however that the results showed its resilience and ability to ride the prevailing economic storm in the country.

He disclosed that the company was currently undergoing expansion in its retail, e-business and digital transformation activities, assuring its public that the company was quite hopeful of posting a much enviable result during the remaining period of the year as the economy begins to show visible signs of positive recovery.

INSURANCE

NAIC Urges FG to Boost its Capital Base Ebere Nwoji The Nigerian Agricultural Insurance Corporation (NAIC), has urged the federal government to boost its operations by enhancing its capital base and making Agric insurance compulsory for Nigerian farmers. The Corporation also wants the government to make its agric Insurance subsidy effective through regular subsidy payments.

Deputy General Manager, Business Development at the NAIC, Bashiru Martins, who stated this at the media retreat organised by the Insurance Industry Consultative Council for Insurance correspondents, in

Abeokuta, Ogun State, said the demands have become necessary because of the importance of agriculture in national economic development of Nigeria and the fact that agric business by its nature is a very risky business.

He said insurance itself is a risk management tool while risk by its nature has to do with uncertainties arguing therefore that insurance is needed most by farmers to preserve their produce and remain in business.

According to him, the government can do better to encourage Nigerians to take insurance when they face risk than giving them intervention funds as it is currently doing.

He warned that disaster does not discriminate; therefore Nigerians of all classes should embrace insurance especially agric insurance irrespective of size of their farms.

Martins said, on its part, the corporation has been carrying out sensitisation programmes among farmers in different parts of the country , in zones, sates and farm settlements and has been spending a lot of resources on that as well as on development of suitable products for farmers.

On the number of policies so far issued by the corporation, Martins, said there is no data on number of policies

issued. He however said the corporation gives insurance cover on almost all crops and livestock items starting from initial two crop and two livestock items. Martins also said NAIC is working assiduously towards rolling out other salient products such as yield Insurance, weather index insurance among others.

He said the corporation is currently working on some strategic business initiatives such as new insurance software to facilitate its operational processes (improve turnaround time),fund committed to research and development of new products as well as distribution models.

Africa Re Plans Insurance Awareness Campaign in Nigeria EbereNwoji Against the backdrop of poor insurance penetration in Nigeria, and negative perception of Nigerians towards insurance, the Africa Reinsurance Corporation (Africa Re) has said it is committed to fostering the development of the insurance and reinsurance industry in Nigeria through an all inclusive multimillion naira public awareness campaign: “Tagged 360 degree awareness campaign and communication plan”.

The corporation’s resolve in this regard is coming on the heels of a similar decision and determination by the present Commissioner for Insurance, Alhaji Mohammed Kari, who recently said his tenure as the chief executive officer of the industry’s regulator, the National Insurance Commission( NAICOM) would witness awareness campaign activities to educate Nigerians on the benefits of insurance in their day to day living, enhance their patronage of the industry and improve the industry’s contribution to the Gross Domestic Product of the economy. The Africa Re’s campaign, which will kick off nationwide this month, is aimed at improving on the existing 0.3 percent low level of insurance penetration in Nigeria by making Nigerians see the benefits of insurance, embrace

it and prevent the prevailing incessant losses in major markets and streets in Nigeria without the least compensation due to lack of insurance cover.

Addressing the press on the take-off of the campaign, Africa Re’s Deputy Managing Director Mr. Ken Aghoghovbia, said Africa Re, after 40 years of existence, with Nigeria as its host country is now well positioned to guarantee that insurers will fulfill their roles in African insurance markets including Nigeria.

He expressed dissatisfaction with quantum of losses suffered by market men and women in Nigeria due to sudden fire outbreaks in different markets in the country, saying it reduces business operators in such markets to nothing due to lack of new capital to re start their businesses again.

“Yet, we keep witnessing fire outbreaks, putting an end to the dreams of uninsured traders, we have also witnessed many children unable to complete their education following the death of their uninsured breadwinners.

The Nigeria Insurers Association (NIA), reports that only 4.3 million vehicles in Nigeria have genuine motor insurance out of about 12 million vehicles on the roads of Nigeria and this is validated by the number of fights between drivers in events of vehicle accidents .

BRAND EXTENSION

L-R: Chairman, Sosaco Nigeria Limited, Mr. Francis Ogboro; Managing Director, Mr. Shailesh Kumar and Special Guest, Mr. Mathew Ogboro, at the launch of the new Jago Gold in Lagos...recently

Leadway Assurance, Total Collaborate on Insurance Product Distribution Leadway Assurance Company Ltd has signed partnership agreement with Total Nigeria Plc, a major marketer of refined petroleum products and services in Nigeria to deepen insurance penetration in the country.

The Memorandum of Understanding to that effect was signed by their Chief Executive officers namely- Mr. Oye Hassan-Odukale (Leadway) and Mr. Jean-Philippe Torres (Total).

Under the agreement, insurance policy products of Leadway Assurance would be made available in some designated Total’s service stations across the country.

Speaking during the signing, Leadway Assurance Executive Director General Business, Adetola Adegbayi, who represented the company’s managing director, said in the first phase of the initiative, Leadway’s easyto-use 3rd Party Motor Vehicle insurance recharge cards will go on sale at the designated outlets of Total filling stations nationwide.

She said subsequently, these filling stations will not only be used as pick up centers for Leadway Assurance products, they will thereafter serve as collation centers for all insurance related issues such as claims processing.

She said as an innovationdriven market leader in the Nigeria’s insurance market, Leadway is constantly seeking ways to make insurance products and services nearer, easily accessible and more convenient for its customers. She said the company has developed an online infrastructure to provide real-time, online access and interaction for its clients.

The partnership with Total, reinforces the company’s quest to further take insurance closer to Nigerians, whilst affirming its commitment to superior service delivery.

She said with the partnership, Leadway customers, who are also consumers of Total’s array of products and services would reduce their commuting time and cost to procure high value

insurance products such as the motor insurance, at a single location.

She noted that the Nigerian insurance industry has been characterised by low market penetration and adoption resulting in the industry contributing less than 1 percent to the nation’s Gross Domestic Product (GDP).

She said the Total/Leadway partnership encourages better accessibility, proximity and ease of business, adding that it consequently reinforces standards and fosters more trust in the Nigerian insurance industry as a whole and positions Leadway Assurance as a reliable insurer.

According to her, Leadway Assurance is leveraging on Total’s wide retail network to reach out to motorists in particular and many more customers in remote areas where Total service stations are located, thereby bringing insurance closer to customers no matter their location.

Also speaking at the event, Torres said: “We are proud of

the partnership with Leadway Assurance, a dynamic organisation, who shares our values of integrity, innovation, and superior service delivery. This is an association of caring brands.”

He said with the partnership, Total’s outlets will become the first in oil industry to have insurance products and services offered at the convenience of its customers from its service stations.

Torres said Total has continued to expand its service operations beyond selling petroleum products by diversifying activities to include other value offerings for customers such as bonjour for groceries shopping , Total Wash for car cleaning as well as Total service for car repairs and maintenance.

He said the partnership with Leadway Assurance further illustrates Total service stations as Nigeria’s leading one-stop service stations for everything that enriches the lives of its dear customers.

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WEDNESDAY, SEPTEMBER 7, 2016, • T H I S D AY

BUSINESSWORLD

PERSPECTIVE

How Healthy Are Nigerian Banks?

Bisi Daniels critically examines the 2015 Annual Report of the Nigeria Deposit Insurance Corporation

CBN building

The Nigeria Deposit Insurance Corporation (NDIC) should look back at the condition of the insured institutions in 2015 with a sense of fulfillment, and a challenge to sustain its achievements. The 2015 Annual Report of the Corporation shows that: “Overall, the banking industry remained stable and sound during the period under review; and the performance of the Microfinance Bank subsector improved compared to the previous year as they had strong capital base and liquidity.

“For Primary Mortgage Banks their performance improved in almost all indices in comparison with 2014 due mainly to the recapitalisation of the sector, enhanced compliance by the operators and improved supervisory oversight.”

In addition to the above achievements, NDIC complied with the provisions of the Fiscal Responsibility Act and remitted the sum of 24,185, billion to the Consolidated Revenue Fund of the Federation in 2015 as against N15.38 billion in the previous year.

The Corporation’s operating surplus for 2015 stood at N30.23 billion as against N15.52 billion in 2014.

The achievements crown the Umar Ibrahim-led management’s continuous efforts to deliver its mandates which are geared towards contributing to the soundness, safety and stability of the nation’s financial system as its 2015 Annual Report shows. It clearly shows that Nigerian banks are safe.

According to the management of the Corporation, the achievements are to further promote the overall intent of the President Muhammadu Buhari administration in attaining economic growth and stability for the country, just as an analysis of the annual report is a pointer to the fact that the Corporation is in tune with the change philosophy which is geared towards curbing excessive waste and enforcement of strong control measures aimed at safeguarding the country’s citizen’s deposits.

The report is also a manifestation of the Corporation’s commitment to its overall role as a Risk Minimiser in the guarantee of payment of deposits up to the maximum limit in accordance with its statue in the event of a failure of an insured financial institution.

Payments This could be inferred from the cumulative payment of 6.796billion to 426,324 insured depositors of the closed DMBs as at

MD, NDIC, Umaru Ibrahim

31st December, 2015 as against 6.795billion to 426,320 insured depositors that was paid in 2014.

Also, the NDIC made a cumulative payment of 2.86 billion to 81,328 depositors of the closed MFBs as at 31st December, 2015 as against N2.77 billion paid to 80,178 depositors in 2014. In the PMBs, the NDIC made a cumulative payment of N45.05 million to 595 depositors of closed PMBs as at 31st December, 2015 as against N2.02 million paid to 30 depositors in 2014.

Furthermore, the sum of N95.77 billion was paid as liquidation dividend to depositors of DMBs in 2015 compared to N94.74 billion as at December 31, 2014. That amount included the uninsured portion of private sector depositors of 11 out of the 13 banks closed post-bank consolidation which was funded by the CBN. Similarly, the NDIC declared a total of N1,728.40 million as liquidation dividends to 1,308 creditors of ten DMBs-in-liquidation in 2015. Out of that amount, the Corporation paid the sum of N1,261.73million to the 965 creditors who filed their claims as at 31st December, 2015 as against N1,247.77 million paid to the 889 creditorsas at 31st December, 2014.

During the year under review, the NDIC also paid 2.41 billion as total liquidation dividends to 550 shareholders of 6 DMBs-in-liquidation as at 31st December, 2015 as against N2.03 billion paid to 453

The wellbeing of Deposit Money Banks were regularly ascertained during the period under review to gauge their capital adequacy; asset quality; earnings and profitability; liquidity management etc. Overall, it was discovered that the banking industry remained stable and sound during the year

shareholders of DMBs-in-liquidation as at 31st December, 2014.

The creative ingenuity of the Corporation leadership was also brought to bear in the extension of deposit insurance coverage to subscribers of mobile money operators (MMOs) through the concept of passthrough deposit insurance up to a maximum of 500,000.

Routine examination In line with its expected role in banking supervision in order to protect depositors; foster monetary stability and promote effective and efficient payment system and others, the Corporation carried out extensive and routine examination to assess the financial condition of Deposit Money Banks where it was discovered that the Banking industry total assets grew marginally by 1.36%, total loans and advances rose by 5.56%, shareholders’ funds unimpaired by losses increased by 14.02% while capital adequacy ratio stood at 17.66%. However, total deposit liabilities declined by 2.83%, unaudited profits decreased by 2.02% while non-performing loans increased by 82.87% in 2015.

The wellbeing of Deposit Money Banks were regularly ascertained during the period under review to gauge their capital adequacy; asset quality; earnings and profitability; liquidity management etc. Overall, it was discovered that the banking industry remained stable and sound during the year.

Microfinance Banks The financial conditions of Microfinance Banks (MFBs) were routinely scrutinized during the period under review, and indeed, their paid-up capital increased by 54.40% from 54.52 billion in 2014 to 84.18 billion in 2015. The MFBs also averaged CAR of 43.75% as at 31st December, 2015. Other parameters used in assessing the financial conditions of Micro Finance Banks apart from Capital Adequacy are Asset Quality were Earnings and Profitability and Liquidity Management.

Overall, the performance of the MFBs subsector improved compared to the previous year as they had strong capital base and liquidity.

Primary Mortgage Banks In the course of assessing the financial conditions of Primary Mortgage Banks (PMBs), it was established that out of 42 PMBs in operation, a total of 14 failed to

render returns to the NDIC and unpaid premium from nine (9) PMBs amounted to N238.30 million in 2015.

Overall, the performance of the PMB subsector improved in almost all indices in comparison with 2014. The improvement in the operations of the PMBs was due to the recapitalisation of the sector, enhanced compliance by PMB operators and improved supervisory oversight.

In the period under review atotal of 12,279 fraud cases were reported, representing an increase of 15.71% over the 10,612 fraud cases reported in 2014. However, the amount involved decreased significantly

by N7.59 billion or 29.63% from N25.608 billion in 2014 to N18.021 billion in 2015.

Similarly, the actual loss suffered by the insured banks decreased by N3.02 billion or 48.79% from N6.19 billion in 2014 to N3.17 billion in 2015.

Fraud cases Out of the 12,279 fraud cases reported by the Deposit Money Banks (DMBs), 425 cases were attributed to staff. The number of fraud cases perpetrated by staff had decreased from 465 in 2014 to 425 in 2015.

Similarly, losses arising therefrom substantially decreased by 70% from N3.165 billion in 2014 to 0.979 billion in 2015. The highest percentage of frauds and forgeries cases of 38.59% was perpetrated by temporary staff.

The Corporation is reported elsewhere to have noticed from bank examination reports, a strong correlation between the high incidence of frauds and forgeries in the banking system with the use of contract and outsourced staff. It continues to discourage the practice.

Sustainability Principles The NDIC also showed strong commitment to the implementation of the Sustainability Principles. To this end, a Sustainable Banking Desk was set up in the Managing Director’s Office and an Implementation Committee was established to work with Sustainable Banking Champions to ensure continuous sensitization and awareness.

The Corporation has also embarked on sustained and continuous capacity building programmes for staff on environmental and social risks issues. It also collaborates with other stakeholders to promote and expand the Sustainable banking space.

-Daniels is an author and a journalist

T H I S D AY • WEDNESDAY, SEPTEMBER 7, 2016

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EDUCATION Bridging Quality Gap between Private, Public Schools The need to acquire knowledge and develop the power of reasoning has made parents to believe that sending their children to private schools will translate to quality learning. Experts however think the school system should challenge students to achieve lifelong learning and that public schools should be better funded to enable them compete favourably with private schools. Funmi Ogundare and Esther Akintade report The proliferation of high-fees private schools in the country has continued to generate concerns among some parents considering the harsh economic condition of the country. However, some of the parents who send their children to such schools don’t consider the cost because of the benefits they hope to get.

The falling standard of the public school system as a result of poor funding some experts say warranted the call for private participation and the deplorable nature of public schools led to the mass movement to private schools that charge high tuition fees.

It is believed that the expensive private schools offer enriched academic opportunities through the provision of exceptional and challenging educational experiences through extracurricular activities; advanced placement courses, and the international baccalaureate programme, as well as dedicated teachers and small class sizes to oversee the children’s weak areas and advance their strengths, among others.

However, with these benefits offered by these private schools, some stakeholders are of the view that parents need to identify the factors that would make a great school for the child towards achieving lifelong learning, and that public schools should be better funded so that the students can compete favourably with their counterparts in private schools.

The Executive Secretary of Lagos State Technical and Vocational Education Board (LASTVEB), Mr. Olawumi Gasper, argued that some expensive schools have one teacher delivering lessons in three or more subjects and obviously stretched.He said though the learning environment of private schools and their ambience are satisfactory, they do not produce quality students that can work independently and face the real challenges of the world.

“We all grew up in rugged environments with the reality staring us in the face and with that, we were able to weather the vagaries of life. The essence of education is to develop the minds of the youths, it is not how expensive, but a system that will offer challenges to you early enough so that the best is distilled out of you.”

The Proprietress of the Coming King Academy, Ago, Lagos, Mrs. Helen Akintade, explained that parents don’t realise that education has changed drastically compared to when they were in school.

“Schools and class sizes used to be smaller, dropout rates lower, in-school violence almost unheard of, even then schools were far from perfect, but at least teachers and principals knew every student by name, something that is increasingly rare today. However the need to create private schools in today’s globalised society has increased.”

She said private schools expose students to certain things in the society socially, emotionally and physically which is what makes a child stand out. “Before deciding to have children in the first place, parents need to decide which school to enroll them in; make the right decision and you can put them on a path towards lifelong learning for a prestigious college education and a successful career.”

The Head, Department of Patrol Unit, Lagos State Ministry of Education, Mrs. Kikelomo Olawunni, a mother of four and a product of public school, said she enrolled two of her children in a public school, adding that private schools are no better than the public schools because “there are good, bad, indifferent and awful public schools as there are private schools

Nigerian students

too. What may be good for one child might be bad for another.”

She confessed that taking two of her children to public school was the best thing that happened to her, saying, “I got to know how good they are because there will be great competition among the students, even in a class of over 100 students.”

Olawunni said most people send their children to expensive schools not only because of quality education but also because of their social status, stressing that the Nigerian president, for instance cannot send his son or daughter to a public school because to some people, it is a place filled with unserious people and bad influence and to some, a place of discipline and quality education. She said children vary in many ways and possess many qualities; wherefore their bodies, minds, emotions and spirits combine to make them unique individuals. “This mix affects the kind of environment in which each child learns best, but many of us feel at a loss to understand and respond to our children’s capabilities, needs and personalities.

“There are four major questions to answer as a parent before choosing a school for your children; firstly, what a child learns which include; basic learning capability, other capabilities and interest. These are aspects of the child that affect what subject and at what level of difficulty a child should be taught at school.

“Secondly, how your child learns which include his learning style, motivation, physical and mental health challenges, behavioral challenges, learning disabilities and disorders, as well as self-understanding.”

She said these aspects of the child affect how the school should teach and interact with each child inside and outside the classroom.

Social issues which the head of department said is the third factor include the need for social contact with particular friends from the child’s perspective, as well as practical matters which include essential extracurricular activities that may be compelling choice factors for some children.

“However, not every factor characteristics is

important for matching every child to the right school, as a parent you will need to identify and decide which ones are really important for your child and after identifying these, you can focus on finding a truly great school for your child’s top needs.

Miss Blessing Okolie, a single mother and a teacher said schools differ, adding, “as a teacher for years, I have realised that it is not all about taking your child(ren) to a school but knowing the activities that take place there. She stressed that the best school to take children to is the less expensive private school.

According to her, parents enroll their children in expensive schools to show off, adding that all they are concerned about is the fun aspect “that is how they can travel to Ghana today and Canada tomorrow for excursion, but they are less concerned about the knowledge which is the main reason they are in school.”

She said she cannot advise parents to take their children to a public school based on her experience while she was still in school where teachers do whatever they liked, and taught whenever they wanted.

On his part, the Head, North Central Zone of the National Institute for Cultural Orientation (NICO), Mr. Ohi Ojo, said the issue of funding of schools is fundamental in evaluating the quality of education in general from primary through secondary to the tertiary level.

He observed that institutions ultimately desire profit, but the same cannot be said for public schools.

“One begins to notice the difference in recruitment of quality staff and equipment in both sectors. Whereas in the private sector, there is reasonable investment in the purchase of equipment that people can see, the same cannot be said of public schools. However, public schools have more qualified teachers because private school proprietors are not able to afford high quality staff.

“The irony of it is whereas in private schools, parents pay for books and other equipment necessary for imparting knowledge, many parents who send their children to public

schools do not have the resources to pay.

The result therefore is that students whose parents can afford to pay for books and other equipment perform better than students who have better qualified teachers but cannot afford to buy books and other equipment.

“That is why entrance into federal and state universities is more competitive than private universities. This is a fact. It is a natural consequence of what has been going on from primary school i.e. public/ private sector funding which affects quality.

If the public schools are better funded, their students will compete favourably with the private schools.”

A parent, Mr. Dayo Jagun stressed that expensive private schools do not mean quality education to students in those schools, saying that most teachers in private schools are not well trained and as such do not have the basic requirements in education to provide quality education to pupils.

He added that some teachers in private schools are not well paid and so are not committed to their jobs. “Some are paid as little as N10,000 per month in Nigeria where the cost of living is high. This affects their output in terms of teaching hence the morale of the teachers will be low and the pupils will be at the receiving end. Another factor is the environment where some of the so called private schools are located.

“Some are not well ventilated, while the location of some is not conducive for learning.

I was shocked when some time ago I saw a private primary school inside the market.

What manner of learning environment will that be? The environment will eventually affect the quality of education.”

Jagun added that most of the private schools are not approved by education authorities, saying, “it is unbelievable that most of them are always advertising their schools with ‘government approved’ tag in order to deceive unsuspecting parents. Even, some parents are not disposed to check whether the school has government approval to operate.”

T H I S D AY • WEDNESDAY, SEPTEMBER 7, 2016

33

EDUCATION

‘Research Will Enhance Town, Gown Relationship’ Funmi Ogundare The Provost, Lagos State University College of Medicine (LASUCOM), Prof. Babatunde Solagberu, has appealed to academics to do more research that would make the relationship between the town and gown worthwhile.

Solagberu, who made this known recently while delivering the 53rd inaugural lecture of LASU titled ‘Of Broken Bones and Broken Dreams: a Bone Carpenter to the Rescue’, expressed concern over the paucity of ideas being experienced, saying that it is a reflection of the poverty in the system.

“Everything we are doing in the university will be of no value if we can’t make the

society better. For instance, I treat bone and tendon diseases and I must have done research in that area.”

The Professor of Orthopaedics and Trauma Surgery also called on the government to be focused and increase the funding of the health and education sectors.

“There is a role for everybody including the non-governmental organisations; government is in a position to do a lot more and funding is administrative.

Just recently, the governor commissioned a heliport and will still do a lot more. The state institutions producing and training students, 99 per cent of funding is coming from the government, I think more funding should be devoted to the system, we need to expand

the facilities because they are overstretched.”

Asked what inspired the lecture topic, the don told journalists that it is to ensure that surgeons come together to help people avoid deformities and paralysis that could affect their dreams negatively, adding that plans are underway to establish a trauma society that can help others to reduce injuries and promote safety.

“The things that threaten the bones are basically things that will damage them and the highest is road traffic injury, broken bones may affect the person’s dreams but a lot of times, we can actually repair injuries. The fact that the bone is broken does not mean the person’s dream is broken, we the Orthopaedics surgeons can

come to the rescue and that is what necessitated the title.”

The Vice-Chancellor of LASU, Prof. Olarenwaju Fagbohun described Solagberu as an astute academician, who displayed erudition in the way he delivered the lecture, saying that he used his research to proffer solution to societal problems.

“He focused on his research which he has done over the years and he believes that solutions must be proffered by all stakeholders including the academia, private sector and government particularly in the area of policy formulation to promoting safety.”

Fagbohun announced that the university will organise a two-day leadership programme for all student union leaders,

aimed at ensuring that they know their responsibilities as leaders. “It is not about fighting and confrontation, what the world is saying is that you must engage and dialogue to discuss the issues and proffer solutions. They will understand that they are now leaders, they can’t afford to be pedestrian in nature.”

In another development, the provost has reacted to the recent protest by its students against the non-accreditation of one of the programmes; Dentistry, saying that the government has already approved the budget for the accreditation since August 12, but due process has to be followed before the college can access the fund.

The protesters, led by the Chairman, LASU Association

of Dental Students, Mr. Sydon Agbor to the office of Governor, Akinwunmi Ambode, lamented that the students had spent eight years as against the stipulated six years due to the non-accreditation of the programme by the Medical and Dental Council of Nigeria (MDCN).Agbor said the programme is paramount and that without its accreditation by the regulatory body, the final year students would not graduate.

Solagberu noted that the university is the only state-owned that runs dentistry programme in Nigeria because it is capital intensive. “There are processes based on law that has to be followed but the students want the process to be faster. We have assured them that we have their interest at heart.”

Four Chibok Schoolgirls among Matriculated Students at AUN Four of the 24 Chibok girls that escaped from Boko Haram in 2014 and came to the American University of Nigeria (AUN) for their education, were among the new students formally accepted into the university during the convocation and pledge ceremony on August 29. The matriculation ceremony witnessed a large turnout of parents and students.

Since their lucky escape, all the 24 have been on the university’s scholarship studying under a special preparatory programme. Also among the new students were those accepted from various applications for the maiden class of AUN’s new School of Law that kicked off this semester. The AUN law programme uniquely offers concentrations in Humanitarian, Gender and Environmental Laws. Others who participated in the ceremony were university graduates pursuing various post-

graduate programmes, among who were 18 winners of the 67 competitive AUN scholarships on offer, while several intakes were transferring from other universities in Ghana, Lebanon, Egypt, the United States and some European countries.

Apart from the novelty of admitting its first class of law students, the university admitted the largest number of undergraduates in a semester in the past three years, signaling a return to pre-insurgency admission figures, even as commercial and other activities peak in Yola and other parts of Adamawa State.

Addressing the convocation which held at the Commencement Hall, the AUN President, Margee Ensign announced that the type of education the new students will receive at the university will ensure that students become leaders in their chosen fields.

Senator Awards N50m Scholarship, Warns against Social Vices George Okoh in Makurdi A former Senate President, Senator David Mark has disbursed N50 million worth of scholarship to indigent students in tertiary institutions across the country.

Those who benefitted from the gesture included the physically challenged, orphans and vulnerable children, children of accident victims, calisthenics dancers and other professionals.

Mark, who was represented by the former Minister of Interior, Abba Moro during the disbursement at Otukpo, Benue State, urged the recipients to rededicate themselves in order to excel in their academics as that will put them in a better position to extend more scholarship to others.

He advised them against drug addiction which he said could hamper their mental capacity, as well as other social vices like malpractice, armed robbery and

challenged them to justify the scholarships by working hard to acquire knowledge.

While soliciting prayers for Mark, the former minister urged the recipients to emulate their benefactor who he said has become an anchor for the Idoma people.

On her part, Mark’s daughter, Oowoh, who said her father is passionate about contributing to education especially that of the girl-child, urged the recipients not to indulge in social vices as that could sabotage their education which is the foundation of their future.

In his remarks, the Chairman of David Mark Scholarship Foundation (DMSF), Professor James Alachi, disclosed that about 2,100 students of tertiary institutions drawn from universities, polytechnics, colleges of education and nursing schools will be awarded N20,000 each.

L-R:The acting Matron, Red Cross Society, Mrs. IdowuTaiwo; member, Planning Committee, Class of 2015, Business Administration, Distance Learning Institute, UNILAG, Mr. Cookey Godpower; Chairman, Planning Committee, Mr. Christian Okpalifo; Admin Officer, Red Cross Society, Mrs. Gloria Chiekwe; and members, planning committee, Mrs. Aminu Elizabeth and Festus Oboma during the group’s visit to the orphanage home in Lagos… recently

UNILAG Students Donate Materials to Orphanage Peace Obi With a thought on the plight of the less privileged children and the need to extend love and care to them, the Business Administration Department, Class of 2015 of the Distance Learning Institute, University of Lagos (UNILAG) during a recent visit to the orphanage wing of the Red Cross Society in Makoko, Lagos donated some materials to the home.

The team, led by the Chairman, Organising Committee for the ceremony that marked the completion of their five-year programme, Mr. Christian Okpalifo, said the class decided to channel the leftover funds generated by the students for the event to charity as a way of thanking God for the successful completion of their studies.

Stressing that it is no longer

easy for families to meet the needs of their children, Okpalifo wondered how charity homes will be faring in a time like this given the harsh economic situation of the country.

A member of the planning committee, Mr. Cookey Godpower, said while the class has a lot of things and reasons to be grateful to God for, the successful completion of their studies at UNILAG in spite of all the challenges encountered on the way remains one major reason.

“We see ourselves privileged, having gone through life and decided to go back to school to have our university education. And having gone through the university system and scaled through different challenges and hurdles that

we faced in the course of our studies, we feel obliged to appreciate God by extending our hands of fellowship to the children in this home.”

Appreciating the group’s gesture, the Administrative Officer of the home, Mrs. Gloria Chiekwe, said the fund that may be referred to as a leftover is never a leftover for the home, adding that every donation goes a long way in helping the home meet its needs and those of the children.

She said the home welcomes every visit and kind donations made by any individual or corporate organisations, adding that such acts of kindness put smiles on the faces of the children. She said the expression of joy in the hearts of the children could be felt through their willingness to play with the visitors and

their reluctance to let them to go.

“Our children depend on people like you, corporate organisations and other publicspirited individuals who come around to put smiles on the faces of these children just as you have done today. If other members of the society can imitate your act of love for the less privileged, I think these children will continue to have a good and blessed time here.”

Stressing that the home accommodates children with varying needs and challenges, Chiekwe said support can come either in cash or kind.

“We are able to cope when we have people like you come around to play with them and give them whatever you have.

Feel free to identify with the home anytime you wish to.”

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EDUCATION

Firm Launches Educational Toys to Promote History, Culture Sunday Okobi and Chinazor Megbolu Ethan & Harriet, a Nigerian educational toy manufacturing company championing the promotion and preservation of African culture through fun and games, has unveiled its products ‘Lift n Learn Magnetic Puzzle’ and ‘Family Floor Nigeria Puzzle’ to sustain Africa’s cultural heritage.

At the event which took place in Lagos recently, the company stated that its educational toys are designed to teach about Nigerian and African history. It said the product is an interactive educational toy with a Nigerian theme for children and adults “and in the process of utilising these products, the users get to learn more about the country’s history, heritage, geography and many more.

In his remarks, former President Olusegun Obasanjo, who was the special guest of honour, commended the company for developing learning tools which would expose Nigerians across social status and background to the country’s cultural values and heritage.

He applauded the founder/CEO, Mrs. Bunmi Williams for rejigging cultural transmission to the younger generation in a creative manner, adding that even adults will benefit from the new products. He also regretted the poor level of awareness of the Nigerian history and cultural heritage,

likening it to suffering a memory loss.

“Not knowing your history is like losing your memory. How can you be inspired when you don’t know your history; when you don’t know your sense of identity?”

Obasanjo expressed delight that the company came up with a solution through the puzzles, which can help children and adults learn about all the states in the country, their capitals and their locations on the map. “I came from the Mambila Plateau few days ago and when people called me and I told them I was there, they asked what country it is in. Mambila Plateau is in Taraba State.”

While calling on Nigerians to imbibe cultural values and norms so as to promote the country’s heritage, he regretted that the current upbringing pattern among parents is disappointing, as many children do not know enough about their states of origin let alone the country.

“I understand that history is no longer taught in schools, which is unfortunate.

Not knowing the history of your country, family or locality is to lose memory and if you lose your memory, you won’t remember even what you ate last night. You can see that it is a disaster.”

The former president also stressed that the products would be useful for non-Nigerians who might be interested in knowing about Nigeria. “It is a knowledge product. It is

disappointing that our children do not know about states, the capitals and what they are noted for.”

Addressing the guests, Williams said she was inspired to create the puzzles to preserve Nigeria’s heritage. “Our national and cultural heritage is our responsibility to preserve and promote. Only those that truly care can change Nigeria, but you can’t change what you don’t know about. We created this to bridge the gap- as a fun way to teach our values.”

The product reviewer, Donald Duke, a former Governor of Cross River State, who also regretted the relegation of history in schools, said the product is a good one, adding that the company’s vision would reignite the cultural acumens of most Nigerian and Africans.

He said the “corruption” of Nigeria’s traditional heritage by penchant for foreign culture does not augur well for the development of the country. “How come people who stayed and studied abroad all their lives without any knowledge about Nigeria are usually interested in coming back to lead the people? You do not know anything about the people, culture and values. Now, we have an intervention in the products the company is launching today; let us make use of them, even adults are not left behind, because only few can identify the states in the map and their capitals,” Duke stated.

Are You Having ‘A Bad Hair Day’?

Having ‘a bad hair day’ is about a day when things are just not going right. Everyone has these frustrating episodes now and again. Everyone might have coping strategies they use to overcome such days. On second thought actually, having a bad hair day might literarily be a day when your ‘locks’ or indeed looks aren’t ‘falling in pleasant places’. It could well be a convalescing spell of days or indeed you’ve settled into middle-age cum older adulthood and the journey downhill has in fact begun. One way to be on top of these types of days is to investigate your natural supply of biotin (Vitamin B7).

‘Small but mighty’ Vitamin B7 is also known by the following names: Vitamin H, Coenzyme R, Biotina, BiotinD, D-Biotin and Biotin. Vitamin B7 is a water soluble vitamin that is found in brief quantities, in food sources.

In the same vein, our body needs a very small amount of this nutrient to break down fats, carbohydrates and proteins. If you’re ensuring that your diet is varied and balanced, you might already be getting enough biotin into your body. Good food sources of biotin are said to include: kidney, whole grains, black-eyed beans, peanuts, brewer’s yeast, egg yolk, avocado, cheddar cheese, liver, pork, peas, whole grain products such as whole wheat bread, salmon, almonds, walnuts, cauliflower, sardines and beans. Interestingly, our bodies also manufacture their own supply, as the natural bacteria in our intestines manufacture their own biotin.

People have found good benefits in taking biotin orally (as supplements) to manage: brittle nail conditions, thinning hair, scaly red rash around the eyes, nose and mouth, serborrheic dermatitis in infants, as well as mild depression. Other uses for biotin include to remedy: fatigue, exhaustion, hallucination, depression, to prevent biotin deficiency linked with long-term enteral feeding, pregnancy, malnutrition as well as weight loss. (Webmd online) Biotin is available in supplement formulations. As with all other medications, consult your doctor or health care professional for the appropriate dose you might require.

Are you eating enough biotin rich foods?

Omoru writes from the UK

SOFUNIX School Lauds Students’ Performance at WASSCE

L-R: The Managing Director, MDS Logistics, Mr. Solomon Aigbavboa; Executive Director, Corporate Services, UAC of Nigeria PLC, Mr. Joseph Dada; the Tutor General, Lagos State Education District I, Mrs. Olufolayimika Ayandele; and the Director Schools, Administration, Education District I, Mrs. Anna Ako, during the closing ceremony of the 2016 UAC Goodness League free weekend classes for SS3 students at Government Senior College, Agege... recently

UAC Restates Commitment to Quality Education in Public Schools Uchechukwu Nnaike The Executive Director, Corporate Services, UAC of Nigeria PLC, Mr. Joe Dada, has reiterated the company’s continued resolve to tackle the declining quality of education in the country.

Dada, who made this known at the closing ceremony of the 2016 free weekend classes organised as part of UAC Goodness League initiative for students in Lagos State, said “since 2008, our company has been “doing good”- in line with UAC’s corporate tagline- and leading from the front in the grand march to stem the tide of increasing deterioration of educational infrastructure and programmes in our country.”

He called on other Nigerians, “especially with the right

structures and institutions, to join the march towards lifting the country out of the mire of backwardness and underdevelopment, which the deterioration in the education sector portends especially among our youths.”

Also speaking, the TutorGeneral/Permanent Secretary, Lagos State Education District I, Dr. Olufolayimika Ayandele, commended the company for bringing the free weekend classes to the district this year.

She said 300 students were coached under the scheme, adding that the impact of the knowledge that the students received would make them better and productive citizens in future.

She pointed out that as the largest education district in the state, having a student population of 130,000 and workforce of

5,000, UAC through the scheme made contact with about 7,500 students.

Ayandele urged the company to continue its focus on the district so that the number of students that would benefit from the scheme would rise to 1,000.

She promised that the district would continue to partner corporate organisations like UAC to introduce new schemes that would appeal to the intrinsic values of the students so as to make learning more interesting.

She said because the free weekend classes took place in the district this year, 90 teachers who had been tasked with the responsibility of coaching students during the holidays had the opportunity to rest.

The UAC Goodness League

free weekend classes for senior secondary three (SS3) students in Lagos, which was extended to Government Senior College, Agege and ran for six weekends, recorded an impressive turnout of students as over 30 schools in the district registered for the scheme.

The programme has been successfully executed for nine consecutive years by UAC with classes holding at various times in both Gbagada and Ajegunle Centres of Lagos State.

UAC in realising the goals of the Goodness League adopted both the hard and soft issues.

While the hard issues focus on the provision of equipment and infrastructural development, the soft issues involve active engagement in the teaching and instruction of students through a volunteer scheme.

The management of SOFUNIX International College, Ota, Ogun State has commended the graduands of the school for their impressive performance at the recently released result of this year’s West African Senior School Certificate Examination (WASSCE) in which they recorded 98 per cent pass.

Also, the parents have pledged to continue supporting the management as a collective effort to execute all developmental projects aimed at moving the school forward.

Analysis of the WASSCE results showed that all the candidates passed English Language and Mathematics, while no candidate made less than seven credits.

In his reaction, the Chairman, Parent Teacher Association (PTA), Mr. Gbenga Badejo, said the result was consistent with the high standard associated with the school.

He said the school has always given priority to high academic standard without losing focus on the essence of co-curricular activities to have an all-embracing educational foundation.

The Proprietor, Mr. Sola Oni, who expressed satisfaction with the results, commended the students and urged them to be good ambassadors of the school at their respective tertiary institutions in the country and abroad.

“Our goal is to produce well-rounded students who can compete effectively at any level. There are three domains of education: affective, cognitive and psychomotor. Our curriculum has effectively addressed this and we operate a combination of Nigerian and British Curriculum to expose our students to the global world.

“Our management, staff and parents are pleased with the performance of our students at the recently released WASSCE. We shall continue to leverage on our quality human capital and conducive learning environment to sustain outstanding performance in all our examinations.

A trend analysis of our results since inception is a consistent heartwarming performance.

Oni stressed that academics should also be backed by moral upbringing, saying, “hence we also place premium on character development as captured in our vision, mission and core values.

Our determination is to ensure a strong educational foundation entrenched on sound academic standard and moral probity.”

He congratulated the students for the successful completion of their courses and commended the parents for their confidence in the school. During the school’s graduation ceremony recently, many outstanding students won prizes ranging from cash to books and plaques.

T H I S D AY • WEDNESDAY, SEPTE,BER 7, 2016

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EDUCATION

Ready Set Work Programme Produces Entrepreneurs, Interns Funmi Ogundare The Ready Set Work (RSW) programme of the Lagos State Government for final year students of its institutions, which commenced 13 weeks ago has ended with the selection of the best 25 entrepreneurial teams pitching their business ideas before a panel of judges comprising the Commissioners for Energy and Mineral Resources, Mr. Olawale Oluwo; Information and Strategy, Mr. Steve Ayorinde; the Special Adviser on Education, Mr. Obafela Bank-Olemoh, among others.

The initiative is an entrepreneurship and employability

training, designed to prepare them for economic productivity as value-creating employees or employers of labour.

Students in the employability module of the programme were also interviewed by Human Resources (HR) representatives of partner organisations such as PwC, SystemSpecs, GTBank, Access Bank, FCMB, Total and Jobberman for a six-month paid internship slot in their respective organisations.

In his remarks, Bank-Olemoh expressed excitement about the programme, saying, “we have 100 people that we are going to place on internship aside the apprenticeship so it is very exciting to see organisations come

to our school and interview our students for internships.”

He also expressed delight about the response received from the organisations about the students, saying that the feedback will allow the state to know what to improve on next year.

“We are going to have more tracks, to be specific, agriculture, tourism, entertainment, teacher training in addition to what we are doing now. For us it has been exciting to see corporate Nigerians speak positively about our students, we are very happy.”

Asked what the state hopes to achieve from the programme, Bank-Olemoh

said he is optimistic about its graduates who can create jobs, adding that government cannot create all the jobs, but through empowering the students.

He advised the youths to grab every opportunity that comes to them saying, “this is an opportunity that the state government has given for those that have internship placements and apprenticeship and those that couldn’t get it, the knowledge we have imparted in them in the last 13 weeks will also work for them. We are excited and committed to ensure that it happens.”

The Deputy General Manager, Total E and P Nigeria Limited, Dr. Nkoyo Attah, said her

organisation is interested in the development of the youths in the country, despite the declining standard of education and the fact that government alone cannot do everything.

“As part of our CSR, we would also like to contribute our little quota, the managing director has committed himself to supporting the state government because most of the development can be done in partnership. One person cannot take full responsibility of the development of a nation.”

On the output of the students from interactions with them, she said, “though a lot of work have been done on the students before they came here, there

are still areas for improvement, those are the areas we will highlight and encourage the students after the interview with them so that there will be an all-round improvement.

The Vice-Chancellor of LASU, Prof. Olarenwaju Fagbohun, described the programme as that which has changed to a great length the orientation of its students, saying that it has given them the understanding of the reality outside and has made them to understand the fact that they are protected in the university environment.

He said the programme has succeeded in inculcating and deepening the element of discipline in the students.

Redeemers Varsity to Honour Danjuma, Samson, Produces 25 First Class Funmi Ogundare The Redeemers University, Ede, Osun State will tomorrow, September 8, install General Theophilus Danjuma (Rtd) as the second Chancellor of the institution, as well as confer him with honorary degree in Business Administration during its 8th graduation ceremony which will hold at its auditorium.

The institution will also confer honorary doctoral degree on the President of World Medical Relief, Dr. George Samson for his healthcare delivery to humanity at the global level, just as it will graduate a total of 619 students, out of which 25 made first class representing four per cent; 207 had second class upper division representing 33.4 per cent; while 290 will graduate with second class lower division representing 46.8 per cent.

Briefing journalists on the ceremony which kicked-off on September 4, with a thanksgiv-

ing service, the Vice-Chancellor, Prof. Debo Adeyewa, said 97 others fall into the third class and pass categories, adding that the convocation will start with a lecture, ‘Nation Building and Nigeria’s Economic Challenge’, to be delivered by the Chairman, African Capital Alliance, Mr. Dick Kramer, who will provide local and international perspectives of the country’s current economic challenges and also proffer the way forward.

“With Redeemers University, the possibilities of excellence are endless just as over a decade of the university’s existence has demonstrated. Our desire is to make greatness common by raising next generation of leaders, professionals, scholars, boardroom gurus and spiritual commandoes.”

Adeyewa appealed to the government to support private universities by providing incentives, single digit interest loans and access to funds that would accelerate research and development.

Westerfield Students Gain Multiple Varsity Scholarships Rebecca Ejifoma Westerfield College, Lagos has demonstrated its quest for excellence in academics after three universities from the UK, US and Canada awarded scholarships to most of its graduating students to study various degree courses.

The students were awarded the scholarships during the sixth graduation ceremony of the college in Lagos recently.

Among the beneficiaries is Chinazamekpere Aranonu, the overall best graduating student. She is set to leave for the University of Hertfordshire, UK, as she intends to become a Paediatrician because of her love for children.

“It is like a dream come true.

Westerfield College has been a blessing to us all; the teachers are very encouraging. While we learnt from our teachers,

we learnt from fellow students.

But I remain grateful to God. I tried my best to stand out and God rewarded me.”

According to a lecturer from Hertfordshire UK, Dr. Edna Stan-Maduka, the students were awarded the scholarships as way of encouraging them to come to the UK to study.

Addressing the students on ‘Dare to Dream’, she said dream is the only thing they have to do for themselves. “Nothing should stop you from dreaming.

The road is not that smooth but I tell you, keep dreaming.”

Stan-Maduka also stressed that schools should stop graduating children, as university environment is meant for adults not children.

“Let them get to age 18 first.

Let them be matured first.

You may be brilliant but not matured enough to handle the university level.”

L-R:The Vice-Chancellor, Lagos State University (LASU), Prof. Olurenwaju Fagbohum; Special Adviser to the Lagos State Governor on Education, Mr. Obafela Bank-Olemoh; and Senior Special Adviser on Education, Mrs. Sheriki Ayem, during the entrepreneurship and employability programme held at the university… recently

British High Commission Winners of Mike Okonkwo Hosts Chevening Scholars Essay Contest Get Prizes A total of 53 Nigerians have been awarded Chevening Scholarships and Fellowships for the 2016-17 academic session, and will leave for the UK this month.

The Chevening award is the UK government’s international global scholarship programme, offered by the UK’s Foreign and Commonwealth Office and partner organisations for fully-funded master’s study in the UK. In his welcome address at the reception, the High Commissioner, Paul Arkwright said: “This is my second Chevening event since I arrived at post a year ago. On my many travels around the country, I am constantly meeting individuals who are at the very top of their careers and it is always pleasant to hear them introduce themselves as Chevening scholars.

“This further demonstrates the fact that the mission of Chevening is being met- a scholarship programme which aims to train exceptional individuals and provide a prestigious platform to further

activate the potential of future leaders for greater impact in the development of Nigeria.”

He said since the first Chevening award in Nigeria in 1984, more than a thousand Nigerian professionals have benefited from the prestigious scholarship.

Arkwright added that the British High Commission has entered into a first ever local partnership arrangement with LADOL, a Nigerian company, and continues to pursue more local partnership opportunities to enable a greater number of Nigerians benefit from the scholarship which boasts a global alumni network of 43,000 members.

“For the 2016/2017 Chevening cycle, Nigeria recorded the highest number of applications globally, with about 4,000 eligible applications. Following this, a total of 53 Chevening scholarship and fellowship awards were made available to Nigerians this year.

This is a massive upgrade from the 12 scholars who were selected in 2014, further demonstrating the UK’s com-

Peace Obi Winners of the 13th Mike Okonkwo National Essay Competition for secondary school students in the country recently received their prizes at the 17th Mike Okonkwo Annual Lecture, which held in Lagos.

Clenching the first position out of the 846 students that entered for the competition was 17-year old Miss Fadilah SaliuAhmed, a student of Zamani College, Kaduna. She got a cheque of N100,000, a laptop and plague, while her school got three sets of computer and a printer.

The first runner-up, Miss.

Barakat Adebayo got N75,000 cheque and a plague, while her school, Roshallom International School, Egbeda, Lagos received two sets of computer and a printer. The second runner-up, Miss Wuraola Adeoye got N50,000 cheque and a plague, while her school, Fountain Height Secondary Secondary School, Lagos received a computer set while four other finalists got consolation prizes`

of N20,000 each.

Delivering the lecture titled ‘The State of the Nigerian Nation: Redefining Our Values’, a former Minister of Information, Mr. Frank Nweke II, said the way to build a lasting value system in the country is for Nigerian parents to go back to their fundamental roles of proper parenting to their children. He said parents must nurture their children in every sense of the word and pay attention to their welfare, as well as their physical, mental and spiritual wellbeing.

The guest lecturer said the rising act of rebellion from different parts of the country; some unconventional attitudes and lawlessness being witnessed in the country in recent times are obvious signs of failure on the part of parents in raising their children.

“The role of parents in the upbringing of children and for the orderly conduct of society is accentuated by the difficulty that the state has had in reigning of renegades, militants and insurgents who threaten our sovereignty.”

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CITYSTRINGS

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

Hawking on the Deathtrap

Precisely two months ago, Lagos State Governor, Mr. Akinwunmi Ambode directed all law enforcement agencies to start full-scale enforcement of the State Street Trading and Illegal Market Prohibition Law 2003 after floating the N25 billion Employment Trust Fund, Gboyega Akinsanmi writes

Hawkers meandering through a busy road in Lagos

R

ecently, Mrs.Tosin OlowoyeyeTaiwo, Founder of Street to School Initiative, shared an unpleasant account of a street trader on a social media platform.

She boarded a public vehicle, heading home. Just before the Third Mainland Bridge, she said two commuters inside the vehicle she boarded beaconed to a street trader and ordered for bottles of water.

Dogged to meet his target, Taiwo said the street trader, perhaps in his teen, “ran after the vehicle, though in a moving traffic.

Initially, I was not bothered until I saw much effort the boy put in to catch up with fastmoving vehicle. He ran so hard, but could not catch up with the vehicle. Yet, he did not give up on the highway just before the Third Mainland Bridge.

“When I could not hold it any longer, I had to wave him to stop running, almost screaming. Next day, I was passing through Oshodi expressway. I saw the remains of a street trader by roadside. His bowl of commodities: bottled water, la camera, coke e.t.c. were placed by his side. It is sad. Now, the question is when are we putting an end to street trading in traffic?”

Conservatively, hundreds of such cases occur annually on Lagos roads. For successive governments, ending hawking, trading in the traffic and street trading was challenging. The danger it portends for the country spurred the administration of former Governor Bola Tinubu to seek enactment of Lagos State Street Trading and Illegal Market Prohibition Law 2003.

Even though his effort to end hawking and trading in the traffic was widely disputed as anti-people, Tinubu’s successor, Mr. Babatunde

Fashola fought the trend all through his tenure.

At different fora, Fashola had explained his anti-street trading stance, noting that no country that desired real growth would allow its youths engage in unprofitable venture.

Fashola, truly, acknowledged the drive of these young Nigerians, citing the way they were meandering through gridlocks diligently and marketing their products to motorists with passion. But he asked: what does their effort contribute to our GDP? He said the traffic traders, largely in their teenage, were just misdirecting their youthful energies and risking their lives in the traffic.

Aside the rate at which the street traders lost their lives, rising incidents of pilfering, robbery and even armed attacks became an issue of public discourse when the state governor, Mr. Akinwunmi Ambode resumed office. Then, intelligence from the State Police Command revealed the complicity of the youngsters who were hawking and trading in the traffic.

For Ambode, street trading does not project Nigeria as a serious country considering the large army of its youths that hawk and trade in the traffic. Aside, he believed these youths should not be left alone because hawking

For Ambode, street trading does not project Nigeria as a serious country considering the large army of its youths that hawk and trade in the traffic

Ambode...wants hawkers to leave Lagos roads

and trading in the traffic was not a viable occupation, which no government – national or sub-national – should encourage for any reason.

But the death of Nnamdi John, a 22-year-old

indigene of Ebonyi State, really radicalised Ambode’s anti-street trading stance. Nnamdi, who was selling eye-glasses in the traffic between Maryland and Ojota, picked his wares and started running after he received

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WEDNESDAY, SEPTEMBER 7, 2016, • T H I S D AY

CITYSTRINGS a message that operatives of the Kick against Indiscipline (KAI) had arrived at Maryland for an operation.

But unknown to him, Nnamdi ran into an on-coming truck and died right there.

His death sparked anger among the street traders, which eventually culminated in mob action. The mob, largely street traders and miscreants from motor parks around Ojota, started attacking high-occupancy vehicles operating on the CMS-Ikorodu Bus Rapid Transit (BRT).

At least, consequently, 25 commuters sustained varying degrees of wound – some fatal and other mild. Also, 48 of such high-occupancy vehicles operating on the CMS-Ikorodu BRT corridor suffered varying degrees of damage.

Likewise, Primero Transport Service Limited, the Ikorodu-CMS BRT operator, put financial cost incurred due to the outrage at N139 million.

Contingent on diverse concern arising from hawking and trading in the traffic, Ambode made a rare pronouncement, which proscribed the trend in all parts of the state in line with the State Street Trading and Illegal Market Prohibition Law, 2003. And the reason for this pronouncement, he said, is to save our youths from untimely death like what happened to Nnamdi.

Also, according to him, the pronouncement is to rescue our youths from street trading and bring them into dignified labour. He pointed out the odds about traffic trading and hawking. First of all, Ambode said such venture would not give desired future and fulfilment, which he said, explained the reasons some of these traffic traders “go into all sorts of criminal activities.”

If what the traffic trading cannot guarantee their future, also, he said continuing in the same business “is a real threat to our country.

What does their input add to the national economy? What does their energy contribute to our GDP? So, hawking and trading in the traffic should not be encouraged. It is not good for our youths. It is not good for country.”

Aside the needless loss of some traffic traders to road accident, Ambode objected to traffic trading due to what he ascribed to a grim image of Nigeria such misdirected effort painted. With this ugly trend, he said foreign investors “will not take us seriously; neither can we earn the respect of international community. With threats associated to the trend, we will lose foreign investments.”

Citing the huge implication of traffic trading, therefore, Ambode said it “is not in our DNA to allow someone to just die by road accident or the way it happened in respect of violence that erupted in Ojota due to the death of a traffic trader. So, the State Executive Council has resolved to enforce the law, which makes both the hawker and the buyer liable of the offence.”

By implication, the Attorney-General and Commissioner for Justice, Mr. Adeniji Kazeem emphasised the need “to enforce our laws. Already, we have a law that proscribes hawking and trading in the traffic. Under Lagos State Street Trading and Illegal Market Prohibition Law, traffic trading is proscribed.

It is not a new law. The law has been in place since 2003.”

Section 1 of the law, according to Kazeem, restricts street trading and hawking in the metropolis. So, he said, the regime empowers the KAI operatives to get rid of traffic hawkers and traders in Lagos metropolis. Kazeem, also, cited section 8 of the law, which he

Already, we have a law that proscribes hawking and trading in the traffic.

Under Lagos State Street Trading and Illegal Market Prohibition Law, traffic trading is proscribed. It is not a new law. The law has been in place since 2003

Typical Lagos hawkers

Underage children trading on a busy traffic in Lagos

said, empowered Special Offences (Mobile) Court “to seize and auction items from these hawkers.

Aside, section 10 of the law lists different punitive measures against any suspect found guilty hawking and trading in the traffic and other related offices. Under the regime, the attorney-general said the clause specifically “prescribes that both traffic traders and their customers are liable. If found guilty, they can be fined up to N90, 000 or face a six-month jail term.

“What we are doing on traffic is that we are introducing new strategies to eliminate traffic but Lagos being a cosmopolitan city, you cannot totally eliminate it but now this is the case, in the next few days, you will see on the street of Lagos signs that will be warning you that buyers and hawkers should be aware that there are consequences,” Kazeem explained.

“A whole lot of people, who are hawkers, are real criminals and their activities are not acceptable. From intelligence, I understand that there is a cartel using these young Nigerians.

Some people would buy fake products and then bring the products in. They would give the products to boys to sell on the street and come back to make returns in the night.”

But Ambode said his administration did not proscribe hawking and trading in the traffic without creating alternative means for them.

For those who have developed their skill, the

governor said the establishment of a N25 billion Employment Trust Fund (ETF) would serve their interest. He said the fund could provide up “to N1 million for any applicant, whose proposal sails through.”

He said N6.25 billion “is annually available for young Nigerians with distinguished business proposals irrespective of their ethno-religious backgrounds. The Board of the Fund has been constituted. It is under the leadership of a former Chairman of the Federal Inland Revenue Service, Mrs. Ifueko Omoigui-Okauru. It has commenced operations.”

For the teenagers, Ambode said the state’s public schools “are free for all residents irrespective of where they come. Governor Bola Tinubu started it in 1999. Under my immediate predecessor, our public schools are free. Till date, the state is still running free education. The parents and guardians should take advantage of our free education policy.”

Apart from free public education, Ambode said the state government had five Technical Colleges and 21 Vocational Training and Skills Acquisition Centres, which the Executive Secretary of Lagos State Technical and Vocational Board (LASTVEB), Mr. Olawumi Gasper said, were strategically established “to develop required manpower for the country at large.”

Citing the report of Odu'a Educational Trust Fund, Gasper puts the value of jobs lost by artisans and technicians from West

African states at N960 million annually. He said foreign nationals “are taking up the jobs that Nigerians should have done. But we do not have required manpower in such areas as plumbing, bricklaying, carpentry, tiling, painting and electricals.”

Under different administrations, therefore, Gasper said the state had been working to reverse the trend. But the Ambode administration, according to him, has specially focused on technical studies, vocational training and skill acquisition to create wealth; pull out thousands of youths from poverty and make them contribute meaningfully to the national economy.

Olowoyeye-Taiwo, who has been developing the manpower of the youths at the grassroots, truly acknowledged what the state government had been doing to end street trading in the state. But she canvassed a review of the state interventions, which he said, was key to realising Ambode’s vision of creating wealth, ensuring security and developing strategic infrastructure.

She canvassed strategic partnership with community-based organisations (CBOs) and non-governmental organisations (NGOs), which she said, would signal a new beginning in Ambode’s quest “to redefine the future of the youth, especially those risking their lives in the traffic. There must be a paradigm shift for these young people for us to achieve more result.”

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WEDNESDAY SEPTEMBER 7, 2016 T H I S D AY

WEDNESDAY SEPTEMBER 7, 2016 • T H I S D AY

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INTERNATIONAL

email:foreigndesk@thisdaylive.com

African Union to Mediate in Gabon Election Crisis The African Union said yesterday that it would send a delegation to help resolve a standoff over presidential election

results in Gabon that triggered days of deadly riots.

Official results showed President Ali Bongo narrowly held on to power

Clinton Rejects Mexico Invitation after Trump’s Diplomatic Ruckus The United States Democratic presidential candidate, Hillary Clinton, said on Monday she will not accept an invitation from Mexican President Enrique Pena Nieto for a visit after rival Donald Trump created what she called a“diplomatic incident”in his foray there.

In a written excerpt from an interview with ABC News that will air Tuesday morning, Clinton simply said “no” when asked if she would travel to Mexico before the election on Nov. 8, without elaborating further.

Her campaign later confirmed her decision.“We understand and respect her decision to propose the time to hold a meeting,” said Mexican Foreign Minister Claudia Ruiz Massieu in a tweet, adding that contact with Clinton’s campaign was ongoing.

Pena Nieto extended invitations to both candidates last month, and Trump flew to Mexico City last Wednesday for a meeting that appeared to be friendly but later revealed deep tensions.

Trump, the Republican presidential nominee, has been highly critical of Mexico, saying the country sends rapists and drug dealers to the United States.

He has called for a wall to be built on the border that would be paid for by Mexico.

Trump said at a joint news conference with Pena Nieto that they did not discuss who would pay for the wall. Pena Nieto remained silent on the issue at the event, but said later on Twitter that he made it clear Mexico would not pay for the wall.

“He came out saying one thing and the Mexican president contradicted him almost immediately,”Clinton, a former U.S. secretary of state, said in the ABC interview.

“He didn’t raise it, so he did choke. He didn’t know how to even communicate effectively with a head of state. And I think that’s a pretty clear outcome from that trip,” she added.

in the central African oil producer last week - but opposition challenger Jean Ping cried foul, claimed he had won the poll and called for a general strike.

“It is an urgent matter and I expect the high-level delegation to be dispatched very soon,” African Union spokesman Jacob Enoh Eben said.

onto the runway as the wheels were retracting into the aircraft.

Seconds later the plane caught fire as it slid hundreds of meters on its fuselage.

All 300 passengers and crew were evacuated from the plane, which was arriving from Thiruvananthapuram, India. Fourteen people were admitted to hospital.

One firefighter was killed in the intense blaze.

The Dubai carrier’s first significant accident happened shortly after UAE authorities issued a warning about windshear for all aircraft using the airport, the world’s busiest international

Russian President Vladimir Putin has pledged his support to the man emerging as the likely next leader of Uzbekistan, during a visit that put a stamp on Moscow’s claim to be the ex-Soviet republic’s closest ally.

Putin flew into the Central Asian state to pay his respects to President Islam Karimov, who died from a stroke on Sept. 2 aged 78. Putin was shown on state television embracing Prime Minister Shavkat Mirziyoyev, 59, the favorite to succeed the authoritarian leader.

In contrast, the United States, which vies with Russia for influence in Uzbekistan, has pressed its new leaders to improve the country’s record on human rights and sent a mid-level diplomat after Karimov’s death.

“Of course, we hope that everything Islam Abduganiyevich (Karimov) had started will be continued,”Russia’s Rossiya-24 channel showed Putin telling

hub, the report said.

During the incident the plane, flight EK521, was subjected to changing wind direction, as a headwind swung to a tailwind and then began shifting back to a headwind, it said.

In a passage headlined“Safety Concerns and Actions”, the report said no such concerns had been issued at this stage.

A final report will issued later.

The report said the sole objective of the investigation was to prevent aircraft accidents and incidents. It would not apportion blame or liability, it said.

France Deploys Artillery, Readies Carrier ahead of Mosul Offensive France said yesterday that it was deploying artillery to Iraq and readying its aircraft carrier for deployment to reinforce foreign military support for the Iraqi army’s expected push to recapture Mosul, the de facto capital of Islamic State in Iraq.

The Iraqi army and its elite units have gradually taken up positions around the city 400 km (248 miles) north of Baghdad, with international coalition

forces keen to capitalize on the militant group’s loss of territory in both Iraq and Syria.

“We decided to bolster our support of the Iraqi forces this Autumn with the aim of recapturing Mosul,” French Defence Minister Jean-Yves Le Drian told a gathering of defense and military officials in Paris.

“At this very moment, artillery is arriving close to the front line,” Le Drian

at least six lives.

The government dismissed calls from the opposition and Western powers including former colonial ruler France to publish more detailed results, prompting the justice minister to resign on Monday.

Authorities appeared to have restored order in

Libreville on Tuesday and shopkeepers and government workers returned to work despite Ping’s call for a mass walk-out. Parliament was due to resume on Tuesday, with lawmakers set to gather in the Senate building.

The National Assembly was set alight and badly damaged during last week’s protests.

Putin Offers Support to New Uzbekistan Leadership

‘’Emirates Jet Hit by Shifting Winds before Hard Landing, Fire An Emirates jet that skidded along the runway on its fuselage at Dubai airport and caught fire last month was subjected to shifting winds as it made a failed attempt to abort a landing, United Arab Emirates (UAE) investigators said yesterday.

In a preliminary report on the Aug. 3 incident, the UAE federal aviation authority said the pilot had tried to abandon the landing after the main wheels of the Boeing 777-300 had already touched down.

A few seconds later the plane became airborne again, only to descend and sink back

Chad’s President Idriss Deby, who currently holds the chair of the pan-African body, would likely to lead the talks, he added.

News of the re-election of Bongo, whose family has ruled the OPEC member for 50 years, triggering cries of fraud and riots in the capital that claimed

said, adding that the Charles de Gaulle aircraft carrier would soon leave for the Middle East.

French defense officials declined to give details on the nature of the artillery.

Mirziyoyev, after laying flowers on Karimov’s grave in the city of Samarkand.

“For our part, we will do everything to support this path of mutual development and the people and leadership of Uzbekistan. You can fully count on us as your most reliable friends.”

His words appeared to be a call to Karimov’s successors to continue the tough line that he pursued against internal dissent during his more than 25 years at the helm. Karimov died without publicly designating an heir.

But the way Putin’s visit was stage-managed pointed strongly to Mirziyoyev having already taken on the mantle of his successor. Mirziyoyev carried out the role of Putin’s principal host.

The two were shown chatting at the graveside, and embracing warmly at Samarkand airport.

Putin also met Karimov’s widow, Tatiana, and his younger daughter, Lola Karimova-Tillyaeva.

Mirziyoyev, in turn, told

Putin his visit “says a lot”.“We will continue to develop that bridge which you had been building together with Islam Abduganiyevich for so many years in order not to break it, but to further solidify it,” he said.

The visit by Putin highlighted the competition among world powers for influence in resource-rich and strategically-located Central Asia, the region in which Uzbekistan is located.

Hours before Putin’s arrival, Daniel Rosenblum, Deputy Assistant Secretary for Central Asia at the U.S. Department of State, told reporters in Tashkent he had met Uzbek Foreign Minister Abdulaziz Komilov the previous evening.

Karimov had for years presented himself as a bulwark against a possible surge of Islamist militancy in Uzbekistan, which borders Afghanistan.

He successfully maneuvered between Russia and the United

States to win backing for his sometimes harsh policies at home despite criticism from human rights groups and misgivings among Western governments.

Under his rule, Uzbekistan managed to forge close relations with Washington, which used Uzbek air bases to resupply its forces in Afghanistan. There were also periods of estrangement when the United States accused him of crushing dissent.

Karimov distanced Uzbekistan from Moscow in 2012 when Tashkent suspended its membership in the Russialed Collective Security Treaty Organisation, which groups several ex-Soviet nations and is seen by some analysts as a regional counterbalance to NATO. But Uzbekistan, Central Asia’s most populous nation, remains heavily dependent on Russia economically. At least 2 million Uzbeks are estimated to work abroad, mostly in Russia, to provide for their families.

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T H I S D AY • WEDNESDAY, SEPTEMBER 7, 2016

BUSINESS/MONEYGUIDE

‘How Nigeria Can Deal with Recession’ Nigeria will have to turn to industries other than oil to help pull itself out of recession, experts have said as the latest sobering government figures revealed that the economy fell by just over two per cent in the second quarter of 2016.

The overall decline of Nigeria’s economy is - gross domestic product (GDP) fell 2.06 percent in the second quarter - largely attributed to the global drop in the price of oil, which saw growth of -17.48 per cent in real terms in the same period.

IMF data projects a -1.8 per cent change in real GDP for 2016. This would be the first annual decline in over twenty years, and the worst annual recession to have hit the country since 1987, when GDP growth dropped to -10.8 per cent.

Nigeria plans to borrow as much as $10billion from debt markets, with about half

of that coming from foreign sources. Funds from this Eurobond would be spent on power transmission projects, solid mineral development and agriculture.

The medium-term borrowing plan, which covers 2016-2019, will now be sent to parliament for approval, Reuters reported.

Nigeria’s Minister of Finance, Kemi Adeosun stressed the importance of diversifying the economy. “We have to grow our non-oil economy,” she said, according to Reuters.

According to a note by Renaissance Capital, agriculture and telecoms are two of the bigger economic sectors which saw growth in the second quarter of this year, though this was slower than previously.

Agriculture, which accounts for one fifth of Nigeria’s GDP, saw growth of 2.5 percent in the second quarter of this year, said Renaissance Capital’s note.

But, while this was down 0.7 percent year on year, Yvonne Mhango, a Sub-Saharan Africa economist behind Renaissance Capital’s note, told CNBC via telephone that the organisation was “not expecting negative territory for crop production.”

As for the promise of telecoms, Mhango explained that the sector was “still growing.”

Nigeria’s services sector, which is worth 50 percent of GDP, shrank by 1.3 percent year on year in the second quarter of 2016, according to Renaissance Capital’s note. The sector’s decline can partly be attributed to zero percent yearon-year growth of its largest subsector, wholesale and retail trade, explained the note. But, Mhango was positive, and said that the second quarter “was the first time services saw a contraction,” and because “its decline is not as deep [as elsewhere] – it has the best prospect of recovering.”

African Economies Gain from Agriculture Investment African countries that took early action in the past decade to invest in agriculture have reaped the rewards, enjoying higher economic growth and a bigger drop in malnutrition, a major farming development organisation said yesterday.

The report by the Alliance for Green Revolution in Africa (AGRA), according to Reuters, showed that after decades of stagnation, much of Africa has enjoyed sustained agricultural productivity growth since 2005.

That has helped push down poverty rates in places like Ghana, Rwanda, Ethiopia and Burkina Faso, it added.

Countries that adopted the policies promoted by the Comprehensive Africa Agriculture Development Programme (CAADP) not long after it was created by African Union governments in 2003 saw productivity on existing farmlands rise by 5.9 to 6.7 per cent per year, the report said.

That helped spur a 4.3 per cent average annual increase in

gross domestic product (GDP).

By contrast, states that sat on the sidelines saw farm productivity rise by less than three per cent a year and GDP by only 2.2 per cent, said the Africa Agriculture Status Report 2016. “The last ten years have made a strong case for agriculture as the surest path to producing sustainable economic growth that is felt in all sectors of society - and particularly among poor Africans,” AGRA President Agnes Kalibata said in a statement.

Growth in agriculture is more effective at cutting poverty than growth in other sectors in subSaharan Africa because farming is a main source of income for more than 60 per cent of the labour force, and will continue to be a major employer in most countries for a decade or more, the report noted.

On malnutrition, countries that were quick to put the CAADP into practice experienced an annual average decline of 3.1 per cent, while those that did not

sign up saw a drop of only 1.2 per cent. The countries adopting the programme early - between 2007 and 2009 - were Benin, Burundi, Cape Verde, Ethiopia, Gambia, Ghana, Liberia, Mali, Niger, Nigeria, Rwanda, Sierra Leone and Togo, according to the report.

“Africa is no longer in the dark. It has done a lot towards agricultural transformation in the past decade,” AGRA’s head of monitoring and evaluation and a lead author of the report, David Ameyaw said.

“But there is a need to double the effort by 2030 for a meaningful agricultural transformation,” he told the Thomson Reuters Foundation.

The report, released to inform discussions at the African Green Revolution Forum in Nairobi this week, noted that gains were made in early-moving African countries even if their governments did not hit a target set by the CAADP to allocate 10 percent of national budgets to agriculture.

First Bank Appoints Alebiosu Chief Risk Officer FirstBank of Nigeria Limited has announced the appointment of Mr. Olusegun Alebiosu as its new Chief Risk Officer (CRO).

Prior to this appointment, he was the CRO of Coronation Merchant Bank.

A statement from the bank showed that Alebiosu’s appointment, which is still subject to approval by the Central Bank of Nigeria (CBN), is consistent with FirstBank’s focus on corporate governance and best practice, and ensuring a balance of knowledge, judgment and experience at the highest decision making level in the bank.

Before joining Coronation Merchant bank in 2015, Olusegun at various times, worked with African Development Bank group and United Bank for Africa Plc as an experienced Chief Credit Risk Officer and Deputy CRO respectively.

Alebiosu has over 24years

of extensive experience across various sectors of banking and has garnered diverse hands-on experience covering financial planning and control, Corporate, Commercial and Investment Banking, relationship management and risk management which will be immensely beneficial to the Bank in his new role as Chief Risk Officer.

He is a qualified accountant with over 24years post qualification experience. He holds a Bachelor’s degree in Industrial Relations & Personnel Management and a Master of International Law & Diplomacy both from the University of Lagos.

In addition, he obtained a Master of Science degree (MSc) in Development Studies from the prestigious London School of Economics and Political Science (LSE) and he is an alumni of Harvard Kennedy School of Government.

He is a member of various professional bodies, including Institute of Chartered Accountants of Nigeria, Nigerian Institute of Management (ANIM) and Nigerian Institute of International Affairs.

According to the Managing Director/Chief Executive Officer of First Bank of Nigeria Limited and Subsidiaries, Dr. Adesola Adeduntan, the choice of the new CRO is in line with the Bank’s commitment to attracting the best resources in the industry, sustaining best practice in its operations, as part of the bank’s overarching risk management framework initiative, by deepening specialisation and strengthening the corporate governance culture of the 122 year old Bank. ”I am confident that Segun’s appointment will help promote strong risk culture, governance, sustainable growth, and value creation in FirstBank,” the MD said.

Broad street

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

MARCH 2016 Broad Money (M2)

21,684,965.22

-- Narrow Money (M1)

9,125,933.16

---- Currency Outside Banks

1,379,187.93

---- Demand Deposits

7,746,745.22

-- Quasi Money

12,559,032.07

Net Foreign Assets (NFA)

7,105,663.47

Net Domestic Assets(NDA)

14,579,301.76

-- Net Domestic Credit (NDC)

24,318,143.03

---- Credit to Government (Net)

2,893,190.01

---- Memo: Credit to Govt. (Net) less FMA

5,004,677.26

---- Memo: Fed. and Mirror Accounts (FMA)

-2,111,487.25

---- Credit to Private Sector (CPS)

21,424,953.01

--Other Assets Net

-9,738,841.27

Reserve Money (Base Money)

5,370,199.87

--Currency in Circulation

1,684,725.89

--Banks Reserves

3,685,473.98 • 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 5, SEPT 2016 The price of OPEC basket of fourteen crudes stood at $43.57 a barrel on Monday, compared with $41.51 the previous Friday, according to OPEC Secretariat calculations. The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), 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

45

T H I S D AY • WEDNESDAY, SEPTEMBER 7, 2016

Nigeria’s top 50 stocks based on market fundamentals

6-Sep-16

5-Sep-16

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

01 Dangote Cement Plc

173.00

175.00

-1.14%

2,948,007,781,065.00

9.56

18.35

5.52

4.56%

4.40

02 Nigerian Breweries Plc

140.01

140.00

0.01%

1,110,153,415,328.88

4.50

31.14

3.71

2.57%

6.82

03 Guaranty Trust Bank Plc

27.00

27.01

-0.04%

794,641,839,048.00

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

14.60

14.95

-2.34%

458,388,809,275.60

3.10

4.82

1.12

12.04%

0.76

06 Lafarge Africa Plc

56.30

56.40

-0.18%

256,440,971,903.00

-6.71

-8.64

1.19

5.17%

1.89

172.00

177.00

-2.82%

224,026,749,716.00

4.22

41.47

1.54

1.97%

5.32

08 Ecobank Transnational Incorporated

11.66

11.70

-0.34%

213,955,767,166.90

0.23

50.05

0.39

5.39%

0.35

09 Presco Plc

45.30

45.30

0.00%

179,862,610,138.50

0.54

77.37

2.37

3.13%

4.03

318.33

318.33

0.00%

176,135,271,937.29 -14.43

-19.06

1.63

5.79%

0.40

11 United Bank for Africa Plc

4.52

4.50

0.44%

163,983,458,975.44

1.66

2.61

0.50

13.82%

0.39

12 Access Bank Plc

5.66

5.70

-0.70%

163,732,319,431.46

2.56

2.18

0.47

9.86%

0.38

13 Unilever Nigeria Plc

39.03

39.03

0.00%

147,662,052,637.50

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

95.97

95.50

0.49%

144,520,089,402.36

3.70

25.29

1.25

0.00%

3.17

16 FBN Holdings Plc

3.06

3.15

-2.86%

109,839,595,943.52

0.30

9.84

0.21

5.00%

0.18

17 7-Up Bottling Comp. Plc

144.90

144.90

0.00%

92,821,543,598.70

3.75

34.14

0.92

1.72%

3.18

18 Total Nigeria Plc

241.00

241.90

-0.37%

81,824,762,717.00

31.13

7.77

0.34

5.79%

3.89

19 Dangote Sugar Refinery Plc

6.56

6.50

0.92%

78,720,000,000.00

1.05

6.19

0.65

7.69%

1.31

20 International Breweries Plc

19.00

19.00

0.00%

62,590,736,320.00

0.17

113.27

2.61

1.27%

5.28

170.78

170.78

0.00%

61,582,458,844.36

17.69

9.65

0.75

4.22%

3.58

4.84

4.86

-0.41%

58,247,555,446.96

-3.46

-1.41

0.31

15.34%

0.43

23 Julius Berger Nig. Plc

43.69

43.69

0.00%

57,670,800,000.00

0.24

199.88

0.62

3.10%

2.85

24 Flour Mills Nig. Plc

19.75

19.75

0.00%

51,828,684,443.25

6.81

2.94

0.14

10.00%

0.52

1.10

1.11

-0.90%

42,593,097,167.50

-0.37

-2.98

0.95

0.00%

0.57

26 U A C N Plc

21.50

20.50

4.88%

41,298,584,320.50

2.44

8.40

0.55

4.88%

0.53

27 Okomu Oil Palm Plc

36.06

36.06

0.00%

34,397,994,600.00

4.60

7.83

2.79

0.28%

2.21

28 Sterling Bank Plc

1.01

1.03

-1.94%

29,078,322,307.26

0.31

3.11

0.26

9.38%

0.33

29 Wema Bank Plc

0.75

0.75

0.00%

28,930,849,560.75

0.06

10.94

0.54

0.00%

0.56

30 Fidelity Bank Plc

0.93

0.93

0.00%

26,935,204,693.56

0.39

2.39

0.19

17.20%

0.15

31 Diamond Bank Plc

1.15

1.17

-1.71%

26,634,447,313.20

0.11

9.52

0.12

0.00%

0.11

32 Cadbury Nigeria Plc

14.00

14.60

-4.11%

26,294,828,560.00

0.83

16.95

0.95

9.29%

2.12

33 Custodian And Allied Insurance Plc

4.00

4.00

0.00%

23,527,456,780.00

0.76

5.20

0.70

3.54%

0.83

34 Glaxo Smithkline Consumer Nig. Plc

19.00

19.00

0.00%

22,721,653,272.00

-2.54

-7.29

0.76

1.62%

2.42

1.14

1.15

-0.87%

22,575,090,290.34

0.61

1.70

0.13

9.62%

0.12

32.00

32.00

0.00%

22,400,000,000.00

2.36

12.76

3.03

3.82%

14.43

37 Mansard Insurance Plc

2.08

2.08

0.00%

21,840,000,000.00

0.27

7.36

1.09

2.50%

0.99

38 National Salt Co. Nig. Plc

8.10

8.01

1.12%

21,460,450,861.80

0.89

9.03

1.17

6.88%

3.07

39 PZ Cussons Nigeria Plc

17.60

17.77

-0.96%

17,600,000,000.00

4.14

4.39

1.37

0.55%

0.54

40 Honeywell Flour Mill Plc

1.30

1.31

-0.76%

10,309,256,955.40

-0.40

-3.46

0.23

11.43%

0.67

41 Continental Reinsurance Plc

0.99

0.99

0.00%

10,269,016,868.88

0.33

2.92

0.48

12.50%

0.51

42 Skye Bank Plc

0.65

0.64

1.56%

9,022,195,916.50

-2.93

-0.21

0.05

47.62%

0.08

43 Unity Bank Plc

0.70

0.72

-2.78%

8,182,536,559.40

0.54

1.44

0.14

0.00%

0.11

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

3.50

3.50

0.00%

6,015,624,982.50

-0.05

-67.70

1.80

19.83%

0.17

47 Nigerian Aviation Handling Company Plc

3.50

3.50

0.00%

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

0.63

0.63

0.00%

4,366,028,822.40

0.26

2.45

0.14

7.81%

0.47

50 Fidson Healthcare Plc

1.77

1.77

0.00%

2,655,000,000.00

0.31

5.55

0.38

2.94%

0.40

04 Nestle Nigeria Plc

07 Forte Oil Plc.

10 Seplat Petroleum Dev. Co. Ltd

21 Mobil Oil Nig Plc 22 Oando Plc

25 Transnational Corporation Of Nigeria Plc

35 FCMB Group Plc 36 Cap Plc

TOTAL

8,920,267,388,620.71

TOTAL MARKET CAP

9,447,713,874,902.29

% OF MARKET CAP Annotation - MA* = Simple Moving Average

94.42%

Table 1 Market Statistics Mkt Indicators

Open 5-Sep-16

NSE All Share Index NSE Market Cap (N'Trillion)

27,707.12 9.52

27,503.81 9.45

-0.73% -0.73%

115.29 8.98

114.56 8.92

-0.63% -0.63%

Close 6-Sep-16

Change %

Thisday BGL 50 Index Thisday BGL 50 Market Cap (N'Trillion)

Close 6-Sep-16

Change %

Table 3 Top 5 Gainers Stock

Open 5-Sep-16

U A C N Plc Skye Bank Plc National Salt Co. Nig. Plc Dangote Sugar Refinery Plc Guinness Nig Plc

20.50 0.64 8.01 6.50 95.50

21.50 0.65 8.10 6.56 95.97

4.88% 1.56% 1.12% 0.92% 0.49%

Table 4 Top 5 Losers Stock

Open 5-Sep-16

Cadbury Nigeria Plc FBN Holdings Plc Forte Oil Plc. Unity Bank Plc Zenith Bank Plc

14.60 3.15 177.00 0.72 14.95

Close Change 6-Sep-16 % 14.00 3.06 172.00 0.70 14.60

-4.11% -2.86% -2.82% -2.78% -2.34%

Downward trend persists as ASI drops 0.73% Market pulse on the Nigerian Stock Exchange (NSE) today – Tuesday, September 6th, 2016 was bearish as the market closed red today. This was further highlighted by negative performances from the NSE Sub sectors: Banking, Oil & Gas and Consumer Goods (Save Insurance). Trading activities decreased in volume as 176.77 million shares worth N1.89 billion in 3,682 deals exchanged hands today. This is a decrease from the 195.02 million shares worth N1.57 billion in 3,221 deals exchanged on Thursday. Topping in volume terms was GTB Plc, Diamond Bank Plc and FBNH Plc while Seplat Petroleum Development company and GTB Plc ended trading as the most active stocks in value terms.

The All Share Index (NSEASI) closed negative with a 0.73% (-203.31) decrease to close at 27,503.81 from 27,707.12 the previous trading day. Market Capitalization depreciated in tandem to N9.45 trillion from N9.52 trillion of prior trading day. Similarly, the Thisday BGL 50 Index also followed suit with a decrease of 0.63% to close at 114.56 from 115.29 recorded at the end of the previous trading day, while its market capitalization stood at N8.92 trillion from N8.98 trillion of the previous trading day.

A total number of 10 stocks gained on the bourse today while 25 stocks declined, 56 leaving stocks unchanged. U A C N Plc emerged the toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 4.88% to close at N21.50 per share. It was followed by Skye Bank Plc with a gain of 1.56% to close at N0.65 per share. Others on the gainers list include: National Salt Co. Nig. Plc, Dangote Sugar Refinery Plc and Guinness Nigeria Plc while on the decliners’ list; Cadbury Nigeria Plc led with a loss of 4.11% to close at N14.00 per share. It was followed by FBN Holdings Plc with a loss of 2.86% to close at N3.06 per share. Others on the losers list include: Forte Oil Plc, Unity Bank Plc and Zenith Bank Plc.

REQUIRED DISCLOSURE This report has been prepared by BGL Plc. BGL Plc does and seeks to do business with companies covered in its research reports. As a result, the firm may have a conflict of interest that could affect the objectivity of this report. Investors should use this report as one of many other factors in making their investment decisions.

For more details go to www.thisdaylive.com

46

T H I S D AY • WEDNESDAY, SEPTEMBER 7, 2016

MARKET NEWS

UBA Subsidiaries Accounts for 30% Total Deposits, 25% Profit Nosa Alekhuogie The Group Managing Director/ CEO of United Bank for Africa (UBA) Plc, Mr. Kennedy Uzoka has said the bank’s African subsidiaries now account for over a quarter of its overall total deposit base, which is largely made up of low-cost savings and current account deposits.

Uzoka made this disclosure during an investor conference

call held in Lagos on the bank’s 2016 half year results.

According to him, “I am particularly impressed by the performance of our business in Congo Brazzaville, where we doubled bottom-line, largely through transaction-based offerings. Overall, the African business (excluding Nigeria) contributed a quarter of profit in the period, with a stronger outlook.

T H E MAIN BOARD

DEALS

MARKET PRICE

“We will continue to consolidate our position across chosen markets, as we penetrate the market through innovative, simple and convenient offerings.

We will maintain our diligent focus on profitable quality asset creation, as we situate our growth appetite within our prudent risk management culture.”

He further explained that the bank’s strategy is hinged on

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

a one-point agenda, tagged “Customer1st, this follows that as banking increasingly gets commoditised, the customer will be the sole determinant of banks’ growth and profitability.

According to him, to win in this evolving landscape, the bank has devoted its strategic initiatives to customers as every decision and action are being taken within the context of customer satisfaction and value

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

addition.

“To this end, we are devoting reasonable resources at the same time leveraging our technologydriven customer relationship management towards increasing the depth of our understanding of customer preferences and changing needs. We want to be in the best position to predict the customers on their utility curve, so as to ensure we proactively offer forward-looking products

and services that will create unique customer experience as well as beat expectations,” the GMD said.

On the bank’s half year results, Uzoka noted that, despite the volatilities in the macroeconomic environment, which the bank is not completely immune to, he is happy to report that UBA delivered 18 per cent annualised return on average equity in the half year.

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

WEDNESDAY, SEPTEMBER 7, 2016 • T H I S D AY

47

NEWSXTRA

FG Unveils Residence Permit Trackers for Expatriates, Foreigners Considers issuing visas to investors on arrival

Dele Ogbodo and Kasim Sumaina in Abuja The federal government yesterday unveiled 28 residence permit card tracking centres for expatriates and foreigners in the country, with the view to seamlessly monitoring their movements within the country.

This came as it disclosed that plans were underway to introduce visa at entry points as part of efforts to eradicate bureaucracy hindering the influx of foreign investors into the country.

The over-riding objective of the unveiling of 28 residence permit card tracking centres for expatriates and foreigners, government said, is to use the centres to monitor and track the effectiveness of inflow of Foreign Direct Investment (FDIs) into the country.

The biometric security card device would be installed across

airports and border control posts which would keep track, monitor and detect wanted international criminals.

Unveiling the facilities in Abuja, the Minister of Interior, Lt. Gen Abdulrahman Dambazzau (rtd), said the 28 new CERPAC production centre and 28 operational vehicles will enhance the capacity of the Nigerian Immigration Service (NIS) to discharge its statutory duty of internal monitoring and control of foreigners within the country.

According to him, with the total trackers of 36 centres across the country, the NIS is expected to deliver improved services to deserving expatriates.

The minister said the technology, if fully operational, would generate a database of travelers that will be linked to the Interpol database to track the movement of wanted persons in the country for easy arrest

of such suspects.

“It is therefore heartwarming to note that all the states of the federation, except Yobe and Borno, now have CERPAC production centre each,” Dambazzau said.

The minister stressed that it is part of the government’s resolve to enhance efficient service delivery with a view to creating the enabling environment for attracting FDIs into the country He said the ministry approved the establishment of 28 additional CERPAC production centres spread across the state capitals to actualise the dream of making CERPAC facilities more accessible to stakeholders whose interests government needs to protect.

In his remarks, the Comptroller-General of NIS, Mohammed Babandede, said the service personnel in charge of the CERPAC production centres would be given timelines within

Insecurity: FG Set to Overhaul, Restructure Nigerian Armed Forces Prioritises training of civilian component Senator Iroegbu in Abuja The federal government in a major policy decision is set to overhaul and restructure the Nigerian Armed Forces to better able tackle the emerging security challenges in the country.

The Minister of Defence, BrigGen. Muhammad Mansur Dan-Ali (rtd), disclosed this yesterday while receiving the White Paper Committee’s report on the Draft on the Nigeria National Defence Policy 2015.

Dan-Ali noted that despite the myriads of security challenges, especially the emerging threats and increasing sophistication of non-state actors, Nigeria is yet to review the 2006 National Defence Policy, 2006.

According to him, the asymmetric nature of conflicts and global terrorism threatening the sovereignty of nation-states calls for periodic review of the country’s defence policy.

He sad: “The dynamic nature of our global environment and emerging threats to defence and sovereignty of nations require this

important document to be reviewed periodically to address these new developments and challenges.

“The NNDP 2006 has not been reviewed even though the nation has undergone transformation in terms of development as well as security challenges. These new developments and challenges in the domestic and global environment have direct impact on national defence and security.”

Speaking further, the minister disclosed that the planned restructuring would involve extensive and sustainable capacity building of civilian staff of the armed forces and security sector in general.

According to him, federal government has prioritised capacity building courses for the defence sector civilian personnel to better equip them to handle responsibilities being demanded by the evolving security challenges.

“In line with the foregoing, my ministry is also undergoing restructuring of our armed forces to reflect the current security challenges confronting our nation.

“The restructuring will be based on building the capacities of senior

civilian staff especially those of directorship cadre,”he said.

Dan-Ali explained that the major aim for reviewing the National Defence Policy was to “have a strong defence policy that would enhance people’s participation and the utilisation of all necessary resources for the defence of the country.”

He assured Nigerians of government’s support for the multiple and ongoing military operations across the country, urging the troops to“act responsibly in accordance with the law and to avoid human rights violation.”

Earlier, the Chairman of the Committee, Lt-Gen. Isaac Obiakor, advised the federal government on the urgent implementation of the reviewed NNDP report.

Obiakor said the report was reviewed with a view“to dealing with the contemporary security challenges, production of national defence needs and development.”

He also advised that“a body of experienced technocrats be put in place to drive the implementation of the NNDP.”

Former Senate President Urges FG to Ignore US Congressman John Shiklam in Kaduna Former Senate President, Ameh Ebute has condemned the recent letter by US Congressman, Tom Marino, urging the Nigerian government to lay a formal complaint to the US government using appropriate diplomatic channels.

Marino in a recent letter to US Secretary of State, John Kerry, which was widely circulated, said President Muhammadu Buhari is running an autocratic government and should not be offered assistance in fighting

insurgency until he runs an inclusive government.

But Ebute in a letter to the Minister of Foreign Affairs, urged the Nigerian government explore ways of telling Marino to limit himself to what he is knowledgeable about instead of dabbling into the politics of Nigeria.

Ebute in a the letter dated September 6, 2016, said from all indications, Marino knows nothing about Nigeria.

The former Senate President stressed that though Marino has the right to express his

concerns, but said: “To the extent that his letter contained so many inaccuracies and even outright lies,” he would have done better whispering those thoughts to the US Secretary of State as opposed to documenting them in a letter.

According to him, Marino’s letter was driven by the belief that his country remains an imperial lord over Nigeria and other nations, stressing that that Nigeria must not allow such sentiments if it hopes to move ahead as a nation.

which to deliver the cards, stressing that the objective of the new centres is to bring the service closer to the people.

Also, the acting Managing Director of CONTEC, Farida Ali Ahmed, who presented the vehicles to the minister, remarked that the centres are equipped with all necessary machines to make them deliver services to the public.

Meanwhile, Vice President Yemi Osinbajo yesterday hinted were underway to introduce visa at entry points in the country.

Speaking at a public presentation and first annual lecture of The Interview Magazine, with the theme: ‘Why Start-Ups Fail and Strategies to Save Them’ in Abuja, Osinbajo in his special address at the event disclosed that government’s mandate is to provide enabling environment for start-up businesses.

According to him, “The question of an enabling business environment is solely the business of government. The business of government is to create the right environment for start-ups and the right environment for doing business.”

He noted that the problem experienced in Nigeria is “that

our normal processes are needlessly difficult,” adding that bureaucrats are generally get caught in seeing the process as an ending itself, not as a means to an end.

Osibanjo stressed that one of the chief aims of the current government is to create an enabling environment for doing business, saying about a month ago, President Muhammadu Buhari inaugurated the enabling business environment committee and that the mandate of the committee which was given to the Minister of Industry, Trade and Investment is that “Nigeria must go up on World Bank doing business list. The mandate is to go 50 spaces up before the end of 2017.”

Speaking further, the vicepresident stated that the current administration had concluded plans to introduce visa at entry points to the country.

“One of the critical issues especially for foreign businesses is even coming to Nigeria, being able to get visas to come to Nigeria for foreign business in particular.

“I remember speaking with the ambassador of one the western countries and my complaints was that it was

taking too long for Nigerians to get their visa to go abroad; businessmen were finding it difficult to obtain their visa; there were so many difficulties, and the gentleman politely reminded me that it takes possibly double the time to get a Nigeria visa to come into Nigeria, fir any businessman coming from his own country.”

He added that: “The truth of the matter is that our processes are far too difficult, too flooded with all manner of bottlenecks and there is a need for us to free up those processes. Most countries that have succeeded in attracting foreign investment have had to take a look at their processes for letting people into their country.”

Osibanjo disclosed that one of the important innovations that will be introduced is that of visa on arrival-getting visa on arrival. “Now visa on arrival process is one that is already in the regulations which usually involves applying ahead and then just picking up the visa.

“But the actual visa on arrival process that we think will free up the process is one where you are enabled to get your visa on arrival, making your applications here and getting visa on arrival,” he stated.

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WEDNESDAY, SEPTEMBER 7, 2016 • T H I S D AY

NEWSXTRA

Military Recovers Corpses of Drowned Soldiers, One still Missing Maritime union: Why boat accident happened

Emmanuel Addeh in Yenagoa The bodies of three of the four soldiers who drowned after a

boat conveying them and some military ammunition capsized along the waterways of Brass in Brass Local Government

American Dies in Lagos Hotel in Mysterious Circumstance Chiemelie Ezeobi A 57-year-old American, Charles Carlson, was yesterday found lifeless in his room at the hotel he had lodged at the Lekki Phase 1 area of Lagos.

According to the Lagos Sate Police Command, his death can best be described as‘Sudden and Unnatural Death’ (SUD), given that his body was found beside a rope.

It was gathered that the American had checked into Ellyx Ville Hotel located at No 8 African Line, Lekki Phase 1, but later died mysteriously.

His body was discovered at about 5.35p.m. and the hotel alerted police detectives from Maroko Police Division and the Divisional Police Officer, Abdulmajid, raced to the scene before the body of the dead was removed.

Already, the Commissioner of

Police, Lagos State Command, Fatai Owoseni, has ordered a full-scale investigation into the death.

Confirming the incident, the state Police Public Relations Officer, Dolapo Badmos, said: “We received a situation report of a sudden and unnatural death of a foreign national today at about 5.35p.m.

“One Vincent Owunke, a manager with Ellyx Vile Hotel at No 8 African line Lekki Phase I reported that one of the guest Charles Carlson, an American aged 57 years died in the hotel.

“He told detectives that they noticed that he did not come out for breakfast. Telephone calls to his mobile and hotel intercom was not picked, which prompted them to call his business partner.

“The door was forced open and he was found motionless as he had allegedly hung himself with a rope close to door.”

Area of Bayelsa State, last Monday have been recovered.

THISDAY gathered that a combined team of the marine component of the Nigerian military operating in the Niger Delta region and local divers have been battling to find the missing troops since the incident happened.

Specifically, the military authorities were said to have sought the assistance of Okpoama community youths in Brass, who knew the terrain well, who also in collaboration with professionals in the force, found the corpses of the deceased soldiers.

The recoveries started late yesterday evening when two corpses of the drowned troops were first seen, while the

third corpse was discovered early yesterday morning after floating far away from the scene of the incident.

However, eight of the soldiers attached to the Joint Task Force (JTF), Operation Delta Safe (ODS), in the boat earlier survived the accident, as they were able to swim to safety when the heavily loaded boat capsized, worsened by the high tides at the time.

The affected military officers, who were carrying out a security exercise, codenamed: ‘Operation Crocodile Smile,’ meant to halt criminalities in the Niger Delta, also had their service rifles missing.

Meanwhile, the Bayelsa State Chairman of the National Maritime Union, Mr. Lloyd

Sese, yesterday attributed the tragic boat accident that claimed the lives of the four soldiers to poor equipment used by the troops.

He argued that a lowpowered engine boat was conveying the military personnel through the creeks when the incident happened.

Speaking in Yenagoa, Sese said preliminary investigation conducted by the Brass Unit of the Maritime Union showed that the accident could have been avoided if adequate logistics were arranged with high capacity engine boats used.

“They made use of small boats with low capacity engines,” he said.

While commiserating with the military authorities, he called on them to consult the union for logistics and transport during such movements.

He said: “While we commiserate with the Nigerian military on the loss of their men, we call on the military to consult those involved in the day to day commercial activities along the creeks and the waterways.”

The operation which is being coordinated by the 2 Brigade, Port Harcourt, Rivers State, was designed by the military to equip the amphibious and internal security operations in the riverine areas of the Delta against militants.

Stampede: Pilgrims Urged to Comply with Jamarat Procedure Jameelah Sanda in Makkah Saudi Arabia

consequence while their state officials will also be held responsible.

The Nigerian Hajj Commission In the same vein, the civil (NAHCON) has advised society group called for pilgrims to comply with the urgent alliance among hajj new modalities adopted by information dissemination Saudi Hajj Ministry for the machinery in Saudi Arabia to stoning ritual in Jamarat. take the message to pilgrims’ This is just as the Chief accommodations.”

Executive Officer of NAHCON, The group in the statement Abdullahi Mukhtar, arrived called for concerted efforts Madina, Saudi Arabia, to work among state pilgrims’ hand-in-hand with the Saudi welfare boards’ officials; the authorities to avoid last year’s enlightments unit of NAHCON, tragedy. preachers, pilgrims’ guides and A statement released in the national media team to Makkah, Saudi Arabia, by its urgently embark on sensitisation national coordinator Ibrahim campaign on the issue before the Muhammed said: “Nigerian commencement of movement pilgrims should comply with of pilgrims to Mina. the new guidelines issued by “Pilgrims should be made to Saudi Hajj Ministry for the understand that the measure stoning of Jamarat.” being adopted is geared towards Also, during a meeting with their safety and comfort. The Nigerian officials and other penalty that will be meted out African countries in Mina on for violators should also be spelt Monday, the Saudi Arabia out clearly to them, so that Hajj Ministry official, Sheikh those who wish to toe the line Mohammed, said arrangements of disobedience will understand have been concluded to assign the likely consequence of their guides who will lead a cluster actions,” the civil society group of 250 pilgrims at a time to the said.

Jamarat and back.

“While we commend the He said two guides from the enlightment unit of NAHCON state pilgrims’ boards and Saudi for its timely information Hajj Ministry would lead the dissemination strategy, we group to perform the stoning urge them to fuse their rituals and also lead them back machinery with those of to their tent. states pilgrims’ welfare He threatened that pilgrims boards especially on this who violate the arrangement issue of Jamarat timing,” will be made to face the the statement said.

GLOBAL INVESTMENT SUMMIT

L-R: Chief Executive Officer, Micro and Small Enterprises Authority, Kenya, Mr. Patrick Mwangi; Director General, National Pension Commission (PENCOM), Mrs. Chinelo Anohu-Amazu; and former Minister of Finance, Egypt/Chairman of the International Monetary Committee of IMF, Dr. Youseff Boutros-Ghali; at the Global Investment Summit in Kigali, Rwanda....yesterday

Man Allegedly Impregnates, Kills Daughter to Cover up Olakiitan Victor in Ado Ekiti

After the victim’s mother had left, the young girls was said to have insisted that she In what sent cold shiver would stay with his father, down the spine of many, a so that she can be running man identified as Williams in errands for him and also Emure Ekiti in Emure Local carrying out home chores.

Government Area of Ekiti Williams, according State has allegedly killed her to multiple sources, had 14-year old daughter after some months ago allegedly impregnating her. impregnated his daughter Williams, from Ile Onisa by secretly having carnal quarters in Emure, according knowledge of her. to the residents of the town, The development was committed the nefarious act said to have sparked violent to cover up his tracks and protest in the town some days wipe off the stigma the illicit ago, where youths were said affair has brought to him. to have demanded punitive It was gathered that the measures against the man. mother of the victim, had They added that recently, since left Williams over the girl began to develop allegation that he was a protruding belly and no planning to use her for one was seen with her except money rituals. her father, which fuelled

suspicion that the father must have been responsible for it.

The sources said neigbhours who had been suspicious of the unholy rapport between father and daughter began to peddle rumours about the source of the girl’s pregnancy.

Shortly after, the news was making the rounds among the villagers and gossips began to rife that Williams had impregnated his own daughter.

A resident of the community, Anike, revealed that Williams allegedly took her daughter to the farm on Sunday (September 4) , where he was said to have allegedly killed her to cover his crime.

She said: “We are sure Williams killed his pregnant girl so as to cover up his

crime because the girl’s pregnancy was already becoming very conspicuous and everyone knew that it was her father who slept with her.

“It took us a while before we were able to apprehend Williams and drag him to the traditional chiefs.

The chiefs, according to one Omodele, had since handed him over to security agency for further investigations.

When contacted, the Police Public Relations Officer, Ekiti Command, Mr Alberto Adeyemi , said the matter has not been reported officially to the police.

But information has it that the culprit has been handed over to the police in Emure division.

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NEWSXTRA

Herdsmen Attacks: Retired General, Royal Father, Fulani Leaders Lead Ugwuanyi’s Security Committee Christopher Isiguzo in Enugu Following the incessant disputes among communities and Fulani herdsmen in

Enugu State, culminating in the gruesome murder of hapless residents of Nimbo community in Uzo-Uwani and Atakwu Akegbeugwu

Alleged $4.6m Theft: Bayelsa Writes Online Publishers, Heads for Court Emmanuel Addeh in Yenagoa The Bayelsa State Government yesterday wrote some online publishers, demanding a retraction of a report that the Government House Chief Accountant, Ritchie Etonye, absconded with $4.6 million belonging to Governor Henry Seriake Dickson.

In a letter dated September 6, with Ref. MOJ/SG/ PS/111/2016, obtained by journalists in Yenagoa, the Solicitor-General of Bayelsa State, Preye Agedah, warned that the state would explore all legal means to ensure that the stories were retracted.

“Any failure, neglect or refusal to comply with this demand will leave us with no option than to take out criminal and civil process to seek appropriate redress,” the letter noted.

The government, through the Solicitor-General, noted that as the public and the publishers of the news items are now aware, “there is and there was never any truth whatsoever in the said publication.”

Agedah maintained that the Government of Bayelsa

State never lost the sum of $4.6 million or any such sum as alleged “as no such money is missing from the coffers of the state.”

He added that there was therefore no reason for any report to the police and none was made either by the governor or the Government of Bayelsa State for the alleged sum of $4.6 million or any other sum.

At the time the publication was made, the letter noted, Etonye was with the governor in Ondo State and subsequently in Port Harcourt where the governor had gone on a condolence visit to Mr. Ritchie Etonye’s father whose son Tamarakuro Etonye (Ritchie’s elder brother) had passed away a few days earlier.

“The police search of Etonye’s private residence in Yenagoa was orchestrated by mischief makers on a false tip that arms were stockpiled therein. The purpose of this false tip was to implicate not only Etonye but the governor who was the ultimate target of the false and malicious information to the police.

in Nkanu West councils, Governor Ifeanyi Ugwuanyi, yesterday inaugurated the state security committee to tackle the challenge.

The committee which is headed by Brigadier General Fred Eze (rtd) who is also the governor’s Security Adviser, has representation cutting across different groups including the Fulani community.

The governor however quickly noted that the committee was entirely different from the state security council.

The committee also comprises members of the Enugu State executive council, members of the Enugu State house of assembly, the security

agencies including the police, army, SSS and civil defence, 17 local government council chairmen, representatives of the Fulani, Shuwa Arab and Hausa communities in Enugu State, representatives of cattle market traders, traditional rulers, president generals of town unions, neighbourhood watch associations, representatives of the Christian Association of Nigeria (CAN) and student leaders in the state.

In his remarks during the inauguration ceremony at the Government House, Enugu, the governor said similar committees would be constituted in each of the 17 local government councils and in each of the 260 political

ward in the state.

He said the constitution of the committee was necessitated by the desire of his administration to consolidate the enviable status of the state through the continued maintenance of a high level of security and the elimination and prevention of circumstances or incidents that threaten peace and security of lives and properties in the state.

He saddled the committee with the responsibility of taking all necessary and lawful measures to ensure security and lasting peace and harmony among various communities and in all corners of the state, asking the members to approach this all important

task with requisite zeal, sincerity and commitment, in the interest of all citizens and the entire society.

Responding on behalf of the committee, the chairman, Gen. Eze said the committee would work tirelessly to ensure that the state regains its enviable status as the safest in the country, noting that “we will carry out in depth study with a view to finding lasting solutions to ensure that there is absolute peace and tranquillity in the state.”

Eze who was earlier inaugurated as the governor’s Security Adviser held many important and strategic positions while in service.

ANNUAL LECTURE

L-R:Former Edo State Commissioner for Information, Mr. Louis Odion; Katsina State Governor and Chairman of the occasion, Alhaji Aminu Bello Masari; Vice President Yemi Osinbajo; Chief Medical Director, Ayodele Medical Centre Lagos, Dr. Niyi Adeosun; Managing Director/Editor-in-Chief, The Interview, Mr. Azubuike Ishiekwene; and Managing Director/Chief Executive, Clennserve Energy Limitedd. Mr. Lekan Abdul, during the first public presentation and annual lecture of The Intervew magazine in Abuja...yesterday

Government Confirms Outbreak of Rocks Lagos, Kills Woman Lassa Fever in Plateau Mudslide Lagos issues quit notice to occupants Seriki Adinoyi in Jos

The Plateau State Government has confirmed that it has recorded 10 cases of suspected Lassa fever, noting that out of the 10, two have been confirmed by laboratory screening.

This was revealed at a joint ministerial press briefing in Jos yesterday by the state Commissioner for Health, Dr. Kunden Deyin, who said: “We have screened seven persons previously; among them were a Fulani lady, who is now responding to treatment at the Jos University Teaching Hospital (JUTH), and a student of the University of Jos. And this morning again, we have three other suspected cases.”

The commissioner stressed the need to control the outbreak of the disease through preventive measures of adhering to basic hygiene and ensuring that people consume only clean food and water free from rat contamination.

He reassured that there were trained personnel on ground to handle the cases from primary healthcare to tertiary level.

He added that the state government has risen to the challenge by deploying health

workers across the state to sensitise citizens on symptoms and preventive measures of the fever.

“We have commenced aggressive sensitisation and awareness campaign across the state.

“Lassa fever is transmitted through the urine and excreta of rats that serve as a reservoir for the Lassa virus and these rodents are usually attracted to dirty and filthy environments.

“The campaigns are aimed to enlighten the people on how to prevent the disease and ensure that the menace is nipped in the bud.”

Deyin, who noted that the last time Plateau recorded a case of polio was in 2009 stressed that government was doing everything possible to keep it at bay.

Also speaking at the press conference, the Commissioner for Information, Alhaji Mohammed Nazif, used the occasion to highlight some of the activities of government, disclosing that the Governor Simon Lalong-led administration has given approval of the sum of N26.2million for an audit plan of the Jos International Breweries (JIB).

Gboyega Akinsanmi An 18-year-old woman, Mrs. Faisa Muritala, who got married 11 days ago in Borno State, was yesterday killed in a mudslide incident that occurred in Agidingbi area of Lagos.

Also, two other persons sustained varying degrees of injury in the incident, which eyewitness said, occurred at about 9:30 am, due to torrential rainfall experienced across the state.

At the scene yesterday, an eyewitness account told journalist that the deceased and her husband, both of Borno State indigene, “had their wedding ceremony 11 days ago. She is just 18 years old.

“Her husband relocated from Gwoza, Borno State to Lagos due to the Boko Haram insurgency that had ravaged their communities. The couple were relaxing in their structure when the tragedy occurred.

While the husband escaped, the wife was trapped under the mud.”

Also speaking at the scene, one of the residents in the affected structure, Mr. Ibrahim

Abu, explained how the incident occurred, saying all he heard “was a loud bang at about 9:30a.m. Before rescuers arrived, she had died.”

One of the two victims, Mr. Muhammed Abba, told journalists that the deceased, Faisa and him “were both trapped under the mud. I could remember she was behind me.”

Narrating how he escaped, Abba said: “Immediately I discovered I was trapped, I started shouting for help. It was my voice that attracted the rescue officials to the location where we were trapped.”

Another resident, Hassan Muhammed, 37-year-old, lamented that they were forced to relocate to Lagos in 2013 after Boko Haram terrorists stormed their community and killed residents.

Hassan, who relocated from Gwoza to Lagos, said: “I am not happy that I live here but you need to understand that the Boko Haram insurgency forced us relocate to Lagos. We do not have the huge income to rent house in Lagos. That was why we decided to settle here.

“I cannot go back home at

this time. We need the federal and state governments to help provide accommodation for us.

For instance, I have two wives and kids; where do I take them to.”

After the incident, however, the Commissioner for Environment, Dr. Babatunde Adejare, ordered squatters living in the shanties around Amara-Olu community “to vacate the area immediately.

It is not habitable to live here.”

After rescue operation, the General Manager of Lagos State Emergency Management Agency (LASEMA), Mr. Michael Akindele, said three persons were discovered trapped under the mud on their arrival at the

scene.

He said the agency’s Emergency Response Team (ERT) were able “to rescue two people (a male and a female) while one adult female lost her life and the dead was recovered by the agency’s emergency response team.

“The agency’s ERT and men of the Nigerian police from Alausa Division, RRS and the Nigerian security and civil defense LASAMBUS, NEMA, were on ground for the recovery operation,” he added.

Akindele said the area “is a wet land and a buffer zone, which is not habitable for human settlement.”

Lagos Commissioner Hosts Bikers Members of the Bikers in Nigeria, (Ace of Spades Bikers Association of Nigeria) have visited the Lagos Commissioners for Tourism, Folorunsho Folarin-Coker, as apart of efforts to host the one

Lagos initiative on October 1.

The body is responsible for the various motorcycle clubs in Nigeria. It was setup to promote unity, discipline and responsibility among its members.

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NEWSXTRA

Agbakoba: How Nigeria Can Get out of Economic Recession Senator expresses concern over FG, states’ complacency

Omololu Ogunmade in Abuja and Sunday Okobi in Lagos As Nigeria economy hits recession, a former President of the Nigerian Bar Association (NBA), Mr. Olisa Agbakoba (SAN), has suggested that the only way to get out of the bitting economic crises is by hard work and strong leadership.

While analysing the economic problems at a conference in Lagos yesterday, Agbakoba emphasised that “malignant metabolic economic syndrome; complicated by inflation, high interest rates, unemployment, weak infrastructure, oil price shock and no growth economy” are responsible for the crises.

He noted that some of the economic problems arose from unclear economic policy direction; tight liquidity-Central Bank of Nigeria (CBN) MPR at 14 per cent basis point, which he said is ridiculous; high interest on debt instruments – Treasury Bill, money deposits, among others which are disincentive to real production, as “paper profit is lucrative. High yield Treasury bills have made banks unproductive. So the government needs to develop coherent fiscal, trade and monetary policy.

“CBN focus on Forex

management is encouraging round tripping and creating asymmetry, therefore, the apex bank should focus on productive value of the economy and not numerical value of the naira.

“It should fully deregulate forex market to allow level playing field and remove distortions such as round tripping. At least 20 billion dollars inflow will instantly occur.”

Agbakoba suggested that for the Nigerian economy to receive a boost for speedy growth, the federal government should implement Presidential Proclamation (like FDR), adoption of supply side and not demand side policy, but that he is “not sure about economic emergency powers.

Alhaji Shehu Shagari had it and failed. Venezuala also is not working.”

According to him, the President Muhammadu Buhari government should “Reverse anti-austerity and tight money, as the G-20 nations all now agree, use all policy tools and embrace fiscal stimulus. Adopt Keynesian economic model of massive government spending on public works, reducing raging inflation at 17 percent

in medium term.”

He noted that the government should also reduce MPR to single digit – five per cent - Quantitative Easing, implement 2016 budget and reflate the economy in order to “spend our way out of recession, embrace National Treatment Policy – Fiscal and trade Protection Policy as well as establish urgently a development bank.

“Prepare public sector borrowing requirement, PSBR and borrow as our debt ratio can sustain this.

Develop assets securitisation and pay off domestic debt to inject liquidity in the system.

“Give Treasury Single Account (TSA) money back to the banks at single digit rates and supervise banks; recommended lending base rate five per cent.”

The senior advocate added that for the economy to be reenergises, massive legal regulatory and institutional reform in financial services sector must be accepted “as money is oxygen to economy but it’s not flowing as a result of bottlenecks.”

Meanwhile, the senator representing Lagos West senatorial district, Senator Solomon Adeola, yesterday expressed grave concern over perceived complacency on the path of both the federal and state governments towards Nigeria’s slide into recession, describing it as worrisome.

According to Adeola, if the respective governments fail to treat the issue of recession with required urgency, the situation will be prolonged and the consequence will be untoward suffering and

protracted deaths for majority of Nigerians.

Noting that recession this period is not peculiar to Nigeria, Adeola said the only difference is that Nigerian leaders are nonchallant and fail to provide hopes for the generality of the bewildered Nigerians that their governments are on top of the situation by rolling out implementable policies to address the plight of different groups that are hardest hit by the recession.

“I must say that one is yet to see any urgency in providing palliatives for the poor and collapsing industries and other corporate bodies leading to serious job losses and a growing sense of despair among the general population. Experience in the past shows that one of the

most reliable ways to tackle recession is to spend money on productive sectors as well as welfarist spending to put money in thepockets of the poor,” he said.

The senator also regretted that so far the economic team and notably the Ministers of Finance, Budget and Planning, the Director-General of Budget Office and the Central Bank of Nigeria (CBN) Governor have demonstrated “lackadaisical approach to what is ordinarily an economic emergency.”

He said Nigerians would have ordinarily expected the team to be rolling out policy options and direction in forms of palliatives for the poor; bail out/loans for distressed organisations such as Innosson Motors and airlines which have been hit by the economic crisis.

NUC Approves New Courses for Salem University Commences PG school The National Universities Commission (NUC) has approved a Post Graduate School for Salem University (SU), Lokoja.

With the approval, the university, which started operations in 2009, will commence its MSc, MBA, PGD and PhD programmes in September.

Its vice chancellor Prof.

Joseph Fuwape, in a statement, said the institution has also secured approval for four additional courses.

The newly approved programmes commencing

in September, according to him, are Mass Communication with specialisation in Communication Arts, Media Studies; Sociology; English Language & History and Diplomatic Studies.

The new courses will run with the fully accredited programmes in the university.

In the same vein, the fifth convocation ceremony of the varsity is slated for October 8.

The graduating students, dubbed change agents, will be awarded classes of degrees including First Class degree.

Ogbemudia Group Endorses Obaseki

Edo Mass Movement (EMM) led by the two time former Governor of old Bendel State, Samuel Ogbemudia, has adopted the governorship candidate of the All Progressives Congress (APC), Mr. Godwin Obaseki, as its candidate for the September 10 governorship election.

Addressing journalists yesterday, Ogbemudia said “the EMM announces that from the preponderance of opinion expressed from the three senatorial districts in Edo state, the EMM declares support for Obaseki of the APC. We are additionally persuaded that Obaseki being relatively unencumbered by controversies of the past, represents the best

foot forward for us in this election.

“Accordingly, the EMM recommends Obaseki to the good people of Edo State come September 10, 2016 election. This was decided after our sincere believe that Obaseki has what it takes to take Edo State to the next level after Governor Adams Oshiomhole” he stated.

It would be recalled that the elder statesman had since 2015, embarked on the search for Oshiomhole’s successor, after he declared that the achievements made so far by the Oshiomhole-led administration must be sustained.”

HEALTH FOR ALL

L-R: Cross River State Governor, Professor Ben Ayade; Chief of Protocol to the Governor, Mr. Emmanuel Asikpo Okon; Speaker, Cross River House of Assembly, Hon. John Gaul Lebo, during the signing ceremony of the Health Insurance Bill (aka Ayadecare), into law in Calabar...yesterday.

EID-EL-KABIR: 22 CHRISTIAN GROUPS CONFRONT FG, SAYS SULTAN CAN’T DECLARE PUBLIC HOLIDAY interfering in religious issues in Nigeria. Even when the Pope visited Nigeria, he ensured that he visited both Christian and Muslim leaders. We condemn, in all totality, the recent visit of the United States Secretary of State, Mr. John Kerry, in August. His visit was divisive, sectional and capable of misrepresentation.

“Foreign nations should be careful not to send the wrong signal that Nigeria is an Islamic Sultanate with the Sultan as the Supreme Sovereign. Nigeria is not an Islamic theocratic state.

It is a democratic nation and authority is vested in the democratically elected federal government.

“It is necessary to reiterate the call to the 386 indigenous ethnic nationalities in Nigeria to urgently convene a conference to examine the emerging trend and threats in the nation and propose solutions that will sustain peace, progress and development in Nigeria. The ethnic nationalities are the “owners’ of Nigeria and it is their responsibility to ensure

that justice, equality and fairness prevail in this nation,” Asemota maintained.

Meanwhile, the Forum of Northern States Pentecostal Bishops has called on President Buhari to seek experts’ advice on how to lift the nation’s economy out of recession.

Chairman of the 19 Northern States Pentecostal Bishop Forum, Archbishop John Praise Daniel, who spoke with State House Correspondents after a closeddoors meeting with the Vice President, Yemi Osinbajo, at the State House, said there was sufferig in the land.

He called on those leading the country not to “Be afraid to look for economic experts, they should not stop to get who can help to help in our economic recovery to ensure everything goes on well so that this country can bounce back as a great nation that we have always been, to ensure this country becomes that great nation we have always dreamt

of and talked about.”

He said members of the forum came to pay a courtesy call on the vice president.

He said: “We came to congratulate him and thank the government for the efforts so far since they came in about a year ago especially in stamping out the Boko Haram menace and in ensuring security all over the nation.”

Daniel said they also discussed with Osinbajo the need for the nation to work together in unity, to move on in peace.

He said the threat posed by the Fulani herdsmen was also discussed with the vice president.

He said the forum also offered advice and called on government to make sure that everything was done to foster unity, peace and progress.

He said: “We are a united nation and nobody should be thinking individually but collectively of making Nigeria great. And also let

the government know that yes we have agreed we are in recession, the people down there whom we led are suffering, there are cries all over the place and let the government know that whatever they can do to alleviate the sufferings.

“We thank God that the president promised he would look at the hunger Nigerians are going through and we do believe that because the president is a man of integrity, he will follow up with his words to ensure that the suffering of Nigerian masses is reduced and make sure that there is enough in the country if we have all the infrastructure working, things working.

“Agreed, we are suffering from the effect of past misrule of past leadership. All the same we believe Nigeria is a great nation, and we can work together with our genuineness, our commitment and our intellectual intelligence to move this nation forward.”

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CRIME&PUNISHMENT Rights Violation: Ambode Demands Redeployment of 104 Police Officers

Gboyega Akinsanmi The Lagos State Governor, Mr. Akinwunmi Ambode, yesterday asked the Nigeria Police to redeploy one superintendent of police, assistant superintendent of police and 102 police officers over alleged high-handedness and violation of residents’ rights.

Also, the governor noted that the request became imperative to check the reoccurrence of unauthorised raid and indiscriminate arrest of residents, who he said, were raided Friday night without just cause.

Ambode’s request was contained in a statement the Commissioner for Information and Strategy, Mr. Steve Ayorinde issued after a formal request was sent to the state police command, demanding the redeployment

of 104 police officers.

The statement said the governor requested the Nigeria Police to redeploy the police officers attached to the Lagos State Task Force on Environmental and Special Offences Unit from the state.

It added that the request came in the wake of last Friday’s authorised raids in different parts of Lagos by officers of the taskforce, leading to a rough treatment and arrests of innocent residents.

It explained that the governor “has sought an immediate redeployment of several of the taskforce officers from the unit and possibly from the state over what the governor called unacceptable conduct.

“Preliminary investigation showed that the unauthorised raid was carried out with the knowledge of the second in

command to the Chairman of the taskforce, Taiwo Adeoluwa, without the approval of the Chairman, Saheed Olayinka Egbeyemi.

“The conduct of the affected officers is not in tandem with the vision of Lagos State Government and is therefore condemnable.

Their conduct is also unbecoming of police officers who are expected to protect the citizenry and ensure that citizens and visitors find every part of the state safe and conducive enough not only on Friday nights, but everyday.”

The statement said Ambode’s massive investments in security and Light-up Lagos Project was meant “to create a 24-7 economy that encourages businesses to thrive. The government will not fold its arms and watch any

overzealous officers derail the vision that has earned the government applause.”

As indicated in the statement, the state government tendered heartfelt apology to the affected person, noting that the state government “will not condone any act of highhandedness, extortion and disregard for human rights on the side of any of its law enforcement agencies and any public official as the state has sworn to protect and guarantee the rights of its citizens.”

The government assured all residents of its commitment “to providing a safe, secure and friendly environment where every law-abiding citizen can go about his or her businesses and activities without fear of being molested, harassed or intimidated by anyone.”

In Brief

Pirates Kill Four Marine Policemen in Rivers Gunmen suspected to be pirates have killed four marine policemen and made away with a gunboat, off Abonnema community in Akuku-Toru Local Government Area of Rivers State. It was gathered that the suspected sea pirates hijacked the gunboat belonging to the Marine Police Division, with four policemen on board, who where on routine patrol of the Abonnema waterways. However, the lifeless bodies of one of the slain police personnel was recovered on Monday night while the remaining three were recovered yesterday. It was gathered that the marine police gunboat was attacked shortly after departing Abonnema jetty, in company of another gunboat, which had since returned from the patrol. A security source told THISDAY that preliminary investigation indicated that the gunboat possibly were attacked by unknown armed militants. The source further said a corpse was found on Monday, September 5, adding that it was discovered that the victim had gunshot wounds, which further confirmed the involvement of armed militants.

The State Police Public Relations Officer (PPRO), Omoni Nnamdi, a Deputy Superintendent of Police (DSP), could not reply the text messages sent to him for confirmation, at the time of filing the report

Police Arrest Herbalist, Alfa for Killing 16-year-old Girl The Ogun State Police Command yesterday disclosed that

it has arrested one herbalist, Mr. Tunde Banjo, and an Alfa, Mr. Nurudeen Adeniyi, for allegedly killing a 16 years old identified as Olayinka in Ijebu North Local Government Area of the state. The state’s Acting Police Public Relations Officer, Mr. Abimbola Oyeyemi, who confirmed the story said one Serifat Adebanjo reported to the police in Ago-Iwoye about the abduction of Olayinka, saying Tobi Ogunkoya was a suspect in the abduction. Oyeyemi added that the immediately acted on the information, noting the Police stormed a house behind Baale house in Imosan community to apprehend Tobi Ogunkoya who confessed that Olayinka is in the custody of Tunde Banjo in Ijebu-Igbo. According to Oyeyemi, Tobi, took the police to the home of Tunde Banjo in Ijebu-Igbo, met him and Nurudeen Adeniyi(an Alfa), arrested the two and also recovered two fresh human hearts and a life tortoise from them. Oyeyemi said Tunde has also confessed to the Police that the girl had since been killed, her breasts and other vital organs harvested while her remains were thrown into Ogbere river, Ogun State. “The police have arrested Tunde Banjo, a herberlist, and Nurudeen Adeniyi, an Alfa in Ijebu-Igbo. Banjo said they have killed the girl and body dumped inside Ogbere river. The police is working to retrieve the corpse. Two human hearts and one life tortoise were also recovered from the suspects,” Oyeyemi said. He added that the trio were arrested by Police from Ago-Iwoye and Ijebu-Igbo Divisions respectively on yesterday following frantic search for the whereabouts of Olayinka.

Gunmen Abduct Catholic Priest in Edo

A DAY OF RECKONING

Suspected armed robbery syndicate being paraded by the Oyo State Police Command in Ibadan ...yesterday

FELIX ADEMOLA

Court Remands Suspected Kidnappers of Oba Iba in Prison Akinwale Akintunde Four suspects involved in the kidnapped of a Lagos monarch, Oba Yushau Goriola Oseni, the Oniba of Iba, were yesterday, remanded in prison custody.

Magistrate B. O. Osunsanmi of an Ikeja Magistrate Court remanded the suspects in Kirikiri Prison pending their arraignment at the High Court on the advice of the state Director of Public Prosecution (DPP).

The four suspects identified as Ododomo Isouah, 52, Reuben Anthony, 43, Yerins Fresh, 45, and Duba Furefo, 49 were brought to the Magistrate Court by the

prosecutor, Eno-Edobor Aidenogia.

Oba Oseni was kidnapped from his palace on July 16 at about 8p.m. In the process, two persons were shot dead by the kidnappers.

The kidnappers had asked the Oba’s family members to pay them a N500 million ransom after almost a week of their kidnapping him.

Aidenogia had sought that the suspects be kept in police custody pending their arraignment.

He submitted the remand application in respect to section 264 (1) (2) of the Administration of Criminal Justice of Lagos State 2011; attached to the request is a

13 paragraph affidavit by Sgt. Dele Ojo Okunlayo.

He also tendered as exhibit A-D, the Legal advise from the office of the DPP with reference No: LJK/2016/140 dated August 20, 2016.

He stated that the request was made on offences bordering on conspiracy, murder, armed robbery and kidnapping of the victim at Iba Area.

According to Aidenogia, the suspects also admitted to have committed the crime and copies of their statements were attached to this application.

Meanwhile, one of the suspects from Ijaw, Duba Furefo (aka General Akuba),

who gave his confessional statement in his native language and was translated by a translator, while being docked, said the armed robbery and kidnapping was a nine-man operation in which each of them received the sum of N1.2 million.

While in denial, Yerins stated that he knew nothing about the kidnapping but admitted to have received a sum of N100,000 from his friend, Isuoah, in order to pay his children’s school fees.

Magistrate Osunsanmi, however, remanded the four suspects and adjourned the matter till November 10, 2016.

Suspected gunmen on Monday abducted a Catholic priest, Rev. Fr. Paul Irikefe, and whisked him away to unknown destination. Fr. Irikefe, a lecturer with Saints Peter and Paul Catholic Major Seminary in Bodija, Ibadan, Oyo State, was said to have been kidnapped at the Benin bye-pass in Edo State. But another information revealed that the victim might have been picked up by the kidnappers around Effurun, near Warri in Delta State. THISDAY checks revealed that the priest left Ibadan and was on his way to Warri, Delta State to attend the burial rites of his friend and colleague, Rev. Fr. Benet Chike Amaefule. Rev. Fr. Amaefule died on August 16, 2016 at the age of 31 after a brief illness.

A night vigil of prayers and mass was put in place for the late priest at S S Peters and Pauls Catholic church at Emode in Isoko Local Government area of the state on Monday at 4p.m. THISDAY learnt that an early morning prayer and funeral mass was organised for the late priest yesterday at Sacred Heart Catholic church, Warri. The kidnapped priest was on his way for the Monday vigil prayers for the deceased when he was abducted along Benin bye pass by the suspected gunmen. THISDAY learnt that the incident affected the morale of the other priests that had gathered for the burial of their late colleague.

One of the priests at the diocese, who pleaded anonymity, described the kidnap as a shock to the catholic family in the state. He pleaded with the kidnappers to release the priest unconditionally and in safe condition. The Delta State Police Public Relations Officer, Celestina Kalu, said the incident did not take place in the state but assured that her command was prepared to assist its Edo State counterpart in apprehending the suspects should they come into Delta State.

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T H I S D AY • WEDNESDAY, SEPTEMBER 7, 2016

WEDNESDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com

2 0 1 8 W O R L D C U P Q UA L I F I E R S

Rohr Picks Kalaba, Sunzu as Chipolopolo’s Danger Men NFF clears air on AKS Gov’s donation to Eagles Super Eagles Coach, Gernot Rohr, has picked skipper Rainford Kalaba and France-based Stoppila Sunzu as the players to watch when Nigeria visits Zambia for a World Cup qualifier next month.

Nigeria is to open her 2018 World Cup qualifying campaign on October 3 at the Ndola Stadium in Zambia.

Rohr said he has a good idea of the 2012 AFCON champions.

“They have some really good players – Kalaba is the best, he scores goals always for them and I also know Sunzu very well because he plays in France,” disclosed Rohr, when he paid a courtesy visit to the General Secretary of the Nigeria Football Federation (NFF) yesterday.

He assured all that Eagles will be at their best for the World Cup qualifiers because “we have to be in Russia”.

“We will need all our best players to be at their very best,” he said.

“We had a good list for the Tanzania match but a couple of players were injured and we will like to look at those ones as well.

“The focus is to strengthen the spine of the team and ensure they can beat any team.

“The confidence has not been there because the team failed to qualify for the Africa Cup of Nations, but when results start to come, the confidence will return,” stressed Rohr who coached the national teams of Gabon, Burkina Faso and Niger, and also had a stint with Tunisian club Etoile du Sahel.

In response, Sanusi pledged full support for the coach and

his backroom staff.

“We have immense confidence in you and your staff; we will not dabble into your technical area,” Sanusi said.

“Our responsibility is to provide the right atmosphere to make you succeed. We see that you are a gentleman but will not take your simplicity for granted.

“If you can work in a place like Niger Republic, I believe you would be able to work even better in Nigeria.”

Rohr was accompanied to the NFF secretariat by Salisu Yusuf (chief coach), Jean-Luc Royer (assistant) and Tunde Adelakun.

Meanwhile, the NFF has cleared air on the N10million donated to the Super Eagles by the Governor of Akwa Ibom State, Udom Emmanuel.

In an e-mail to THISDAY yesterday, NFF’s Director of Communications, Ademola Olajire, said that there was no controversy over the donation made to the team as the governor made it clear what the money was meant for while presenting the cash to the federation.

“Please be informed that the N10m given to the NFF by Akwa Ibom State government was not for the Super Eagles to share.

“The governor made it clear it was to assist the NFF with organisation of the match, and it was from there that the NFF paid the players their daily allowances.

“The team captain was there when the governor made the presentation and stated clearly what the money was for,” stressed Olajire last night.

Golf: IBB Ladies, Runsewe Raise Caddies Profile Olawale Ajimotokan inAbuja The Ladies Section of IBB International Golf and Country Club, Abuja turned a new leaf by staging the first of its kind golf tournament for caddies in Abuja.

The tournament was facilitated in conjunction with the Chairman of Golf Garden Waterfront, Otunba Olusegun Runsewe, as the major sponsor.

The 18-hole tournament, which inspired hope for the teeming caddies, was at the instance of the IBB Club ladies led by their Captain, Mrs Lami Ahmed.

About 123 caddies defied the heavy downpour and displayed their raw talent in the 18-hole qualifying tournament played on IBB golf course on Monday.

At the end of the qualifying event, the field was trimmed to 50 players that will regroup for the final tournament on September 12.

Runsewe, a former Director General of the Nigeria Tourism Development Corporation (NTDC) said he was influenced in his gesture because the caddies add swagger to the game of golf.

The caddies were presented with goody bags stuffed with tee shirts, hand gloves and other sourvenirs.

The Chairman Caddies Tournament Committee, Mrs Sandra Haruna, said the ladies organised the tournament to encourage the caddies and make them realise they are vital to the game of golf.

Haruna said that since the caddies were on the bags most of the time, the ladies felt inclined about the tournament so that caddies can also experience what regular golfers feel on the golf course. ‘’They (caddies) are highly valued individuals who can be what they want to be in life. Some of them will either become professional golfers or further their education. We are always encouraging them in their career pursuits. There are cases where after school, members assist caddies in job placement,’’ Haruna said.

She thanked Otunba Runsewe for always supportive of the ladies section with the sponsorship, saying the caddies were motivated to compete in a tournament of such profile.

Super Eagles Technical Adviser, Gernot Rohr and his assistant, surrounded by management staff of the Nigeria Football Federation (NFF) during the visit of the coaches to the Glass House… yesterday

ITTF WORLD RANKINGS

Aruna Quadri Leaps to 25th Spot to Set African Record Keno Edhowo Nigeria’s Aruna Quadri has inscribed his name in history as the first table tennis player in the continent to attain the 25th spot in the September ranking released by the International Table Tennis Federation (ITTF) yesterday.

Quadri was one of the stars at the Rio Olympic Games in Brazil after stunning the world to become the first African to play in the last eight of the Games.

From the 2,305 points he had

in the pre-Olympic ranking in August, Quadri added 152 points from his performance in Brazil reach 2,457 point mark to achieve his new status as Africa’s best player ever in the September ranking.

Apart from rising to 25, Quadri in the latest ranking was also listed among the most active players in the world based on his rise from 40th in August to 25th in September.

Other active players in the recent rating include; Brazil’s Hugo Calderano and England’s

Paul Drinkhall. Calderano who like Quadri, became the first player from South America to play in the quarterfinal of the Olympic Games.

The Brazilian who was rated 54 in August is now ranked 31 in the world, while Drinkhall moved from 58 to 32 in the globe grading.

Also, a member of the ITTF ‘7’ Club, Nigeria’s Segun Toriola was rewarded for his effort in Rio as the seventh time Olympian moved from 120 to 106 in the latest ranking, while Egypt’s

Omar Assar remains the continent number two.

Nigeria’s duo of Edem Offiong and Olufunke Oshonaike were not lucky as well with Offiong dropping from 120 to 129 while Oshonaike dropped from 241 to 251.

Olympic and World Champion, China’s Ma Long held on to the summit of the ranking again as the Asian star and his compatriot - Shiwen Liu remain number one ranked male and female players in the world.

US Open: Serena Sets Grand Slam Record Serena Williams defeated Yaroslav Shvedova of Kazakhstan in the US Open to set a new Grand Slam record of 308 victories.

Williams defeated Shvedova 6-2 6-3 making history with the most Grand Slam match victories for any man or woman in the Open era.

The historic milestone moves Williams past Switzerland’s Roger Federer , who previously held the title with 307 major match victories

and Martina Navratilova for the women with 306 match victories.

The 34-year old American will play fifth seed Simona Halep of Romania in the quarter-finals,who beat Spain’s Carla Suarez Navarro 6-2 7-5.

If she wins the New York tournament, the tennis star will surpass Chris Evert for the most U.S. Open titles and Steffi Graf for the most championships since

the introduction of the Open era in 1968, when the Grand Slam tournaments agreed to permit professional players to compete with amateurs.

For the men, Andy Murray seemed determined to go one better last night as he blitzed Grigor Dimitrov with a near flawless display, winning 6-1, 6-2, 6-2 in just 2hr 1m.

The defeat was so emphatic

that one will wonder if this was the same Grigor Dimitrov that had beaten Murray in Miami as recently as March as well the close Wimbledon quarter-final of 2014, which remains the only time he has failed to reach the last four in SW19 since he was 21.

Murray will face Japanese sixth seed Kei Nishikori in the last eight who had beaten Croatia’s Ivo Karlovic 6-3 6-4 7-6 (7-4).

Ikoyi Club Tennis Championship Kicks off The second edition of the Ikoyi Club Tennis Championship kicked off on Monday with 75 players jostling for honours in both individual and team events of the AIICO Insurance sponsored tennis fiesta.

The championship which is strictly for members of the Ikoyi Club 1938 tennis section have players divided into Red and Blue groups with each group made up of four teams of seven players each.

The teams are named after AIICO products. There are also the individual events which include men’s singles, ladies singles, men’s doubles and veteran’s doubles for players aged 60 years and below, 70 years and the super veterans’ category for players from 70 years and above.

Speaking at the press briefing to herald the competition, the Managing Director and CEO

of AIICO Insurance, Mr. Edwin Igbiti, said the insurance company is happy to collaborate with the tennis section of Ikoyi Club for the second time running, stressing that the sponsorship aligns with AIICO’s vision to encourage healthy lifestyle and wellness through sports.

On his part, the Vice President of the section, Collins Onuegbu, craved the indulgence of the

sponsors to continue to make the championship bigger, just as he said the championship promotes inclusiveness among members.

According to the Games Captain of the club, Akeem Mustafa, the championship will run for a week, with the major objective being to enhance members’ fitness through healthy competition.

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WEDNESDAYSPORTS WEDNESDAY A SPORTS AY

MOURINHO

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GUARDIOLA

The Story of the Rivalry GUARDIOLA V MOURINHO (HEAD-TO-HEAD) UEFA Spanish La Champions Copa del Super Super Total Liga League Rey Cup Cup

Guardiola 2 3 1 0 1 wins 1 (PG won Draws 1 2 1 on pens) 1 Mourinho 1 1 1 0 0 wins Guardiola’s Barcelona v Mourinho’s Inter Milan Four meetings: Guardiola: 2 wins, Draws: 1, Mourinho: 1 win

Manchester is now home to two of the most successful managers in the world and United’s Jose Mourinho will go head-to-head with City’s Pep Guardiola on Saturday. Mourinho and Guardiola worked together at Barcelona between 1996-2000, when Mourinho was a coach and Guardiola was a player.

The pair have clashed many times before and have a fierce rivalry.

As they prepare for this weekend’s hotly-anticipated derby. Sky Sports takes a look back at their records against each other and the times they’ve clashed…

The first meeting between Guardiola and Mourinho as managers produced a typically intriguing tactical battle, as Barcelona and Inter Milan played out a 0-0 draw in a Champions’ League group game at the San Siro in 2009.

The reverse fixture, though, saw the Spanish side win a one-sided contest 2-0 at the Nou Camp. The hosts were without Lionel Messi or Zlatan Ibrahimovic but Xavi picked Mourinho’s men apart.

After the game, Mourinho conceded his team had been outplayed - but welcomed the chance of another crack at Guardiola’s team: “We’re far from being Barca in terms of individual qualities and profile.

As a team, Barcelona are better than us. But if I had to play against Barca again tomorrow, I would already be ready. If you told me that Inter will face Barca in the semi-final, I will accept it already.”

Mourinho got his wish. Inter did come up against Barcelona in the semi-finals - and this time they emerged victorious.

However, in a glimpse of how Mourinho and Guardiola’s rivalry would develop, the tie was not without its controversy or outspoken remarks.

After a first-leg 3-1 win at the San Siro for the Italian side, Mourinho slammed Barca’s claims they should have had a penalty for a foul on Dani Alves.

“A year ago Chelsea were crying and Barca were laughing with the referee,” Mourinho said, referring to the controversial Champions League semi-final at Stamford Bridge, which saw referee Tom Henning Ovrebo reject a number of penalty claims from the Blues. “They laughed because he denied my Chelsea boys their rightful place.”

Mourinho was even more impassioned after his side reduced to 10 men midway through the first-half - booked their final berth with a 1-0 defeat in Barcelona.

“It is the most beautiful defeat of my life,” he said. “It is a style of blood not skill. We were a team of heroes. It’s a pity I could not play because I have got the same blood.

I have already won a Champions League but today was even better.

We made huge sacrifices.”

Mourinho’s Inter would go on to win the Champions League and match Barcelona’s 2008/09 achievement of winning a treble.

The rivalry between Guardiola and Mourinho hit a whole new level in 2010, when Mourinho was appointed Real Madrid boss.

During the next two seasons, as the pair vied for domestic and European honours, their relationship turned ugly.

A thumping 5-0 win for Guardiola in Mourinho’s first El Clasico handed the Spaniard a head-start. “I’m proud the whole world has seen how we play football,” he said.

But it would be a run of four meetings in a little over two weeks from mid-April, as Barcelona and Real Madrid clashed in La Liga, the Copa del Rey and Champions League, which saw the pressure get to both men.

There was a penalty for each team as a 1-1 draw at the Bernabeu all-but assured Barcelona of the league title. But Cristiano Ronaldo clinched the Copa del Rey in extra-time four days later, ending Real’s 18-year wait to lift the Spanish cup.

Guardiola may have secured the league but he lost the Copa del Rey final to Mourinho’s Real After the game Guardiola sparked a war of words by suggesting the linesman must have had great eyesight to spot Barcelona’s Pedro was in an offside position before scoring what would have been the opening goal.

“Up until now there was a very small group of coaches who didn’t talk about referees and a larger group who did,” said Mourinho ahead of the teams’ Champions League semi-final first-leg. “Now, with Pep’s comments, we have started a new era with a third group, featuring only one person, a man who criticises (the referee) when he makes good decisions.

This is completely new to me.”

Guardiola was incensed - and hit back. “As senor Mourinho has

GUARDIOLA V MOURINHO (TROPHIES) Guardiola Mourinho 2 Champions 2 Champions Leagues Leagues 3 Club World 1 UEFA Cup Cups 3 La Ligas 3 Premier Leagues 3 Spanish 1 FA Cup Super Cups 3 UEFA Super 3 League Cups Cups 2 Copa del Reys 1 Community Shield 3 Bundesligas 2 Serie As 2 German Cups 1 Coppa Italia 1 Italian Super Cup 1 La Liga 1 Copa del Rey 1 Spanish Super Cup 2 Portuguese Leagues 1 Portuguese Cup 1 Portuguese Super Cup Total: 21 Total: 22 • Guardiola’s Barcelona v Mourinho’s Real Madrid Eleven meetings: Guardiola wins: 5, Draws: 4, Mourinho wins: 2 called me Pep, I’m going to call him Jose,” he said in his pre-match press conference. “Tomorrow at 8.45pm we will face each other on the pitch. Off the pitch he’s won. He’s been winning off the pitch all season. Let them give him a Champions League for it so he can enjoy it and take it home. In the press room he is ‘el p*** jefe’ (the ******* boss) and the one who knows more than everyone else.”

The Barcelona manager reportedly returned to the team hotel to a standing ovation from his players, who went on to win the first leg of the Champions League semi-final 2-0 at the Bernabeu with two late goals from Messi.

For the fifth game in a row (including Inter Milan) Mourinho had a player sent off against a Guardiola side. Pepe was shown a red on 61 minutes and Mourinho himself was dismissed for protesting.

After the match, he launched a shocking attack on Barcelona and the integrity of UEFA officials.

“One day, I would like Josep Guardiola to win this competition properly,” he said.

“If I tell UEFA what I really think and feel, my career would end now. Instead I will just ask a question to which I hope one day to get a response: Why? Why Ovrebo? Why Busacca? Why De Bleeckere? Why Stark?” he continued, naming the referee

7 6 3

who officiated Chelsea’s exit the previous season and the three referees to have taken charge of Mourinho’s most recent matches with Guardiola.

“Why? Because every semi-final the same things happen. We are talking about an absolutely fantastic football team, so why do they need that? Why? Why does a team as good as they are need something (extra) that is so obvious that everyone sees it?

“I don’t know if it is the UNICEF sponsorship or if it is because they are nice guys.

I don’t understand. They have power and we have no chance. All I can do is leave that question here in the air and hope that one day I will get the response. They have to get to the final, and they’ll get there, full stop.

“Josep Guardiola is a fantastic coach. But I have won two Champions Leagues and he has won (only) one Champions League - and that is one that would embarrass me. I would be ashamed to have won it with the scandal of Stamford Bridge. If he wins it this year, it will be with the scandal of the Bernabeu. Deep down, if they are good people, it cannot taste right for them. I hope one day Guardiola has the chance of winning a brilliant, clean championship with no scandal.”

With Mourinho serving a touchline ban the sides drew 1-1 at the Nou Camp, sealing Barcelona’s passage to the final. “This has been one of the most beautiful nights I have ever lived,” said Guardiola, whose team would go on to beat Manchester United at Wembley.

Any hopes the off-season would allow Mourinho and Guardiola’s rivalry to cool off vanished in the midst of a fierce Spanish Super Cup second-leg the following August.

After drawing the first match 2-2 ugly scenes marred the return in Barcelona, with Mourinho poking Tito Vilanova, Guardiola’s assistant, in the eye during a melee which followed a ferocious tackle from Marcelo on Cesc Fabregas. The Real Madrid manager was also seen making gestures towards Messi and Alves and, after the 3-2 defeat, criticised the hosts’ ball boys. “Someone has to take action on the matter. Mourinho is destroying Spanish football,”

said a furious Gerard Pique, the Barcelona defender.

Mourinho, though, was ready for war. “I’m not going to say we’re happy because we didn’t win the Spanish Super Cup, that would be hypocritical of me. But we intended to play like men and not fall on the ground at the slightest touch.

I have been taught to play like a man and not to fall first.”

However, Guardiola would once again get the better of Mourinho in the first league clash of the season, pulling level with their rivals at the top of La Liga after bouncing back from the quickest-ever Clasico goal from Karim Benzema to win 3-1.

A little over a month later Barcelona were victorious again at the Bernabeu, taking a 2-1 Copa del Rey first-leg lead back to the Nou Camp, where they booked a semi-final spot in the competition they’d go on to win.

However, despite defeat to Barcelona in December, Real Madrid were proving an unstoppable force for all other comers in La Liga, winning 11 in a row after that Clasico loss.

By the time they went to the Nou Camp in April, the title was in their hands - and Ronaldo hit the decisive strike in a 2-1 success to put Real seven points clear with four games remaining.

Barcelona’s defeat to Real Madrid all but sealed the capital club’s La Liga title win It was Barcelona’s first home defeat in 55 games, Real’s first Clasico win since 2008 and their first at the Nou Camp for five years. “We can’t expect to always be up to the standard but it’s a pity we faltered in the decisive moment,” rued Guardiola.

Mourinho declined to speak to the press.

Real went on to win all four remaining games to take the title for the first time in four years, finishing with a record 121 goals to their name and a nine-point advantage over Barcelona. As an illustration of how far clear Mourinho and Guardiola’s men were of the rest, third-placed Valencia were 39 points off the summit.

At the end of the season Guardiola announced he was leaving Barcelona for a sabbatical. “It’s his life, but for me it’s unthinkable to take a sabbatical. He is younger than me, but I’m not tired,” was Mourinho’s farewell.

Guardiola and Mourinho resumed their rivalry in August

2013, when Bayern Munich and Chelsea met in the UEFA Super Cup. Neither man had won the Champions League or Europa League with those respective clubs the previous season but Guardiola, fresh from his yearlong sabbatical, and Mourinho, back at the Bridge after leaving Real Madrid, were eager to kick-off their new jobs in style.

Guardiola had taken charge of Jupp Heynckes treble-winning Bayern but needed a last-gasp Javi Martinez equaliser in extratime against 10-man Chelsea to take the game to penalties.

The Spaniard then delivered an inspiring team talk to his players, according to Pep Confidential, Marti Perarnau’s book on Guardiola’s first season at Bayern.

“Firstly, make up your mind immediately as to where you’re going to put the ball and stick with that decision,” Guardiola said. “I’ll say it again. Decide now, and don’t change your mind no matter what happens.

Secondly, keep telling yourselves that you’re going to score. Repeat it a thousand times and don’t stop until after you’ve taken the penalty. Don’t worry and don’t change your minds.”

Guardiola enjoys the moment with Franck Ribery and the UEFA Super Cup The instructions worked.

Bayern won the Super Cup, and Guardiola scored victory over his long-time rival. “The best team clearly lost,” retorted Mourinho. “They just scored one more penalty.”

After the game, Mourinho was quizzed by the press on his poor record against Guardiola - he had only won three of their 16 meetings.

“Your statistics are wrong and very wrong,” Mourinho said. “Go there and see what happened with Inter in the Champions League semi-final.

I won the Spanish Cup final in Valencia, I won the Super Cup in Spain. I was champion in Spain. I won the match for the title in Barcelona with Real Madrid.”

Pushed on whether Mourinho had more accurate statistics, he said: “I don’t know. Maybe you are right and I am wrong. But I don’t care. It’s not important.”

Expect both managers to show just how important their rivalry is to them when United and City and meet on Saturday.

T H I S D AY WEDNESDAY SEPTEMBER 7, 2016

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Price: N250

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MISSILE

Senator to Baru, Former NNPC GMDs “Let me make it very clear that all of them that are speaking do not have the moral standpoint to even advise us on what to do because they had a hand in the problem; and I cannot see how you can solve a problem under the same condition that created it. They are more or less acting as enemies of the people and even the government they are advising.”

– Chairman, Senate Committee on Information, Senator Aliyu Abdullahi, berating the Group Managing Director (GMD), Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, and his predecessors for their demand for petrol price increase.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

Starving Children in the Northeast

F

ollowing seven years of the Boko Haram war in the northeast, development experts have observed that it would take years to rebuild the zone. But the response to the humanitarian consequences of the war cannot wait for long if further disaster is to be averted. The reported suffering in the camps of internally displaced persons should trigger some emergency responses in many respects. The lack of access of the displaced to clean water, nourishing food, basic medical care, schools for children etc. is an immediate issue to tackle while the long-term plan of rehabilitation and reconstruction is afoot.

The starving children have to be saved today so that they can live to be beneficiaries of plans for the future development of their villages.

At the heart of the problem is the seeming lack of appreciation of the magnitude of the problem. If anything at all, there appears to be a better appreciation by the outside world of the danger and hardship that people especially to which children are exposed in those parts of Nigeria. Governments at all levels should shift their focus to a better coordination of the responses to the crisis to the benefits of the victims.

With the opening up of territories formerly under the control of Boko Haram, aid workers are discovering that the poor conditions of those trapped might have been largely underreported. The picture would be clearer now that more towns and villages have been opened up due to the gallant efforts of the armed forces and other security agencies. For instance, it is seriously projected that by the time aid workers have access to other towns and villages it would be seen that hundreds of thousands are indeed facing famine. The experience in Bama where aid workers are actively providing relief to the victims has lent credence to this grim projection.

Hence, development organisations are warning loudly that famine may further plague a zone of Nigeria already devastate by the bestial war of Boko Haram. Similarly, the charity organisation, Medicins Sans Frontieres (Doctors Without Borders) has warned against the deterioration in the health conditions of the victims due to inadequate medical care. In one of the most credible estimates, the United Nations has put the number of children facing starvation in Borno alone at 240, 000, warning that 130 of those poor children may die daily if relief does not come their way promptly. This piece of news should raise an alarm to all humanitarian organisations and individuals. The UN’s budget of $300m is expected to be funded by international donors as organisations and individuals. In this regard, greater attention has to be drawn to the problem in order to attract help from outside the country. Demonstration of solidarity as exemplified by the recent visit of the Irish Rock Star, Bono, will go a long way in attracting the attention of donors. The heroic efforts of aid workers taking risks to provide relief to the victims should be better appreciated. They are indeed making all the difference. Their operational relationship with agencies of government and other bodies should be smoothened. The campaign for external help should be conducted methodically so as to achieve the desired results. The donors, of course, would consider the sense of purpose here among other things. Doubtless, Nigeria is in dire need of external help to tackle the humanitarian crisis in the northeast.

The need even becomes greater in the light of the prevailing financial crunch. The magnitude of the

L-R: Governor Kashim Shettima of Borno State, Senator Mohammed Ali Ndume, Alhaji Aliko Dangote and Irish rock star, Bono at a camp of IDPs in Borno State problem suggests nothing less in the circumstance.

Ultimately, the responsibility of saving the lives of persons in desperate need of succour in the northeast is that of federal, state and local governments. In fact, what is at stake is squarely the responsibility of governance. Come to think of it, even when Boko Haram overran some parts of the Nigerian federation, there was never a proclaimed abdication of governance. So governments should muster the capacity to tackle the problem.

First, in this phase of emergency response there should be competent and honest coordination of efforts. It is the demonstrable seriousness here that would engender the confidence of external donors.

In this respect, the presidential committee on the northeast is a welcome development. It is not enough for the President to “order” the release of grains for those dying of starvation. There should be an organising principle underlying the distribution. The committee should critically examine the mechanism in place for the distribution of the materials. The federal government should ensure that its relevant agencies discharge their statutory responsibilities in the situation of the northeast. After all, that is the purpose of establishing those agencies in the first place. In proportionate terms, the state and local governments should also deploy the public resources

at their disposal for the care of the people who are in this life-threatening situation.

Secondly, it is also immensely helpful that the military is also giving a helping hand in providing humanitarian relief especially in the area of medical care. The defence and security authorities should to more ensure that liberated towns and villages are

secure for relief efforts to spread to more people.

It is no salutary news (as reported) that months after the defence authorities announced that Boko Haram had been pushed back, relief workers cannot still take food to starving children in some villages.

Thirdly, the corruption in the administration of the relief efforts for the victims should be categorically tackled. Those who elect to divert the food meant for starving children should be punished according to the law. The resources available to provide succour for the victims should be judiciously managed. It is the responsibility of the government to ensure transparency in the process.

Finally, the humanitarian conscience of Nigeria’s well-endowed organisations and individuals ought to be pricked by the grim situation in the northeast. It is significant that Bono visited the camp of IDPs in the company of Aliko Dangote. The Dangote Foundation has put over $2 billion in the relief efforts going in the northeast. The Foundation has sent trucks for food and of here materials to the northeast. Outside donors would be enthused by the action of Nigerian organisations and individuals to solve the problem. The political and socio-economic elite in the northeast should be visible in providing food for their kinsmen who are starving and thirsty. When they seek positions and contracts at the federal levels they invoke the name of the northeast as representatives of its people. The elite in the zone should lead in the efforts to restore normalcy in their area. In particular, the provenance of Boko Haram war is traceable to Borno State at a time Alhaji Ali Modu Sheriff was governor of the state. Why is this politician missing in action when it comes to feeding the starving children of Borno?

Nigeria is in dire need of external help to tackle the humanitarian crisis in the northeast.

The need even becomes greater in the light of the prevailing financial crunch

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